Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Nirvana and our guest was . The AMA took place on the 4th of April.
The AMA session was divided into 3 parts with a total crypto reward pool of $500
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Jonah 🏅🎹
| Satoshi Club
Hello Dear Satoshi Clubbers welcome to our AMA session with
Nirvana
Our guest today is @Sid_Nirvana
Pavel P
Let’s meet and greet our guest!
Jonah 🏅🎹
| Satoshi Club
Hello welcome to Satoshi club
Sid Nirvana
Hello & namaste cryptomonks!
Very honored & happy to be here.
Pavel P
Welcome to Satoshi Club!
Jonah 🏅🎹
| Satoshi Club
Hello Glad to have you here
How are you doing?
Pavel P
So as we are!
Sid Nirvana
Couldn’t be better.
Beautiful day here. And days away
from shipping Nirvana – which has been a long dream
Pavel P
It is great when dreams come true!
Sid Nirvana
What’s good @Jonahapagu ?
Jonah 🏅🎹
| Satoshi Club
A dream is about to come true for you
Let’s start our AMA
Sid Nirvana
And hopefully for everyone else, too! This is really a community-first protocol,
and we couldn’t be happier to do an AMA like this.
Jonah 🏅🎹
| Satoshi Club
Let’s get started with an introduction Can you please
introduce yourself to us, how you got into crypto and how Nirvana started?
Sid Nirvana
Absolutely – hi everyone, I’m Sid, the Lama of Nirvana &
core dev.
I’ve been working in & around crypto projects for
years. It started with building tools
for friends & degens, and then evolved into building teams to create DeFi
protocols.
I found a home on Solana because of the rich developer
community & creative energy.
The team behind Nirvana is really a supergroup of other DeFi
founders & Solana engineers.
This is a passion project to make a truly durable,
sustainable, and decentralized store of value.
Jonah 🏅🎹
| Satoshi Club
This must be an impressive Team
Pavel P
How many team members are currently working on Nirvana?
Sid Nirvana
We’re up to 10 – but about to start hiring
Sid Nirvana
It takes a village, you know.
Pavel P
Nice! So what makes Nirvana special?
Jonah 🏅🎹
| Satoshi Club
Great opportunity for more people to join
Pavel P
Absolutely!
Sid Nirvana
So glad you asked
Let’s start with its values:
– sustainability
– universality
– fairness
Nirvana is really a response to the boom & busts, the
rugs & scams, and the fear around centralization.
What we are building is a durable & lasting place to
deposit money, watch it appreciate, and transfer value.
Sid Nirvana
Nirvana is an economic environment unto itself.
It has 2 tokens, representing the 2 forces needed to
generate wealth:
– NIRV: a stable token
– ANA: a volatile token
These two tokens are intimately connected with each other,
and play off each other.
ANA is a store of “wealth” — it is volatile, has
risk & has reward
NIRV is a store “value” — it is superstable,
ultra-low-risk. The same value today as
tomorrow.
Jonah 🏅🎹
| Satoshi Club
This is Exciting because
almost Everyone in this space has had concerns around rugs, scams,
centralisation and so on
Sid Nirvana
One thing that makes Nirvana special is that all of this is
grounded in actual value.
The protocol builds *on top* of stablecoins.
Rather than creating tokens that have no intrinsic value.
Totally.
So many people (everyone?) have been burned recently from
Ponzi house-of-cards.
Jonah 🏅🎹
| Satoshi Club
I agree with you..
Sid Nirvana
Nirvana is designed explicitly to avoid this kind of
*hyper-inflation* that leads to assets suddenly losing 98% of their value.
The faster something goes up, the faster it falls . . .
We can start with one key feature of Nirvana:
The rising floor price.
ANA (the volatile token) has a minimum price it can trade
down to. And this minimum price rises
with adoption of the protocol.
Jonah 🏅🎹
| Satoshi Club
Interesting
Sid Nirvana
Say, for example, ANA is trading at $9 ond the floor is
$6. That means, if you decide to buy
ANA, you *know* that your max loss is $3 (or 33%).
And your max upside is unbounded.
This introduces systemic risk-asymmetry. You always know your max loss with ANA
Moreover, if demand for ANA increases, the protocol is able
to raise the floor price.
Sid Nirvana
This sounds crazy and too good to be true — but it’s
actually very straight-forward
Pavel P
Sounds so thrilling!
Sid Nirvana
The protocol is built *on top* of stablecoins.
Jonah 🏅🎹
| Satoshi Club
Yeah sounds so good to be true
Sid Nirvana
And depends on the existence of stablecoins.
Jonah 🏅🎹
| Satoshi Club
This eliminates a lot of risks
Sid Nirvana
It’s this simple: as more people buy ANA, more stablecoins
go into the reserves.
These are permanently held in the protocol’s AMM.
The protocol always sets asid enough stablecoins to support
the floor for *every* ANA token.
With enough ANA purchases, more stablecoins can be saved per
ANA token, thereby raising the floor.
It’s all algorithmic & automatic.
The magic is in the fact that the protocol owns this
ilquidity in a trustless AMM.
Jonah 🏅🎹
| Satoshi Club
Thank you for the great introduction
We will like to proceed to our community questions now, are
you ready for them?
Sid Nirvana
Shoot!
Pavel P
Q1 From Telegram User @thisistoyin
On visiting your websites, I encountered a welcome note which displayed “Pre-commitment period now open!”
& Pre-commit your launch investment and earn up to 15% prANA rewards! And I understand that this pre-commit period will be open until 11:59p UTC on 5 April 2022. Well, As a beginner in cryptocurrency who doesn’t wanna miss out on any Available opportunity to Earn, but before going further into these commitment and receiving the prANA reward, I’m Curious to know, can you please enlighten us a little bit about the Use of these Commitment to your platform? And after your explanations, should incase we choose to commit, how do we go about it? Is there a minimum or maximum amount for these commitments? And could you also state the Benefits of these PrANA rewards token we are going to receive?
Sid Nirvana
Great question. And
true – there is a special reward period going on.
Let’s take this in phases: starting with the way the reward
tokens work.
Committing to the protocol means you promise to spend $
during the launch auction
when you commit, you put up 1% of your total commit as
“earnest money”
So, if you commit $1000, then $10 goes into escrow.
If you hit your commitment target — spending the money
during the launch auction — you get your escrow back.
And you also get hefty rewards.
Let’s talk about the *prANA* token.
Jonah 🏅🎹
| Satoshi Club
Awesome
Sid Nirvana
prANA or “pre-ANA” is best thought of as an option
to buy ANA at its current floor price.
Sid Nirvana
Back to our example, say ANA is trading at $9 but the floor
is $6. Then if I gave you a prANA token,
you could make a $3 profit!
Spend $6 to execute the option, and get a $9 token.
The rewards for commiting are paid out in these prANA
options, giving you access to ANA at its cheapest price.
Sid Nirvana
Continuing with your question: There are no min or maxes to
commit. It’s totally open.
Jonah 🏅🎹
| Satoshi Club
This gives room for all players
Sid Nirvana
Truth be told, this is our way making *you* the VC. We are self-bootstrapping with no outside
investment, and want to reward early adopters directly.
Jonah 🏅🎹
| Satoshi Club
This is Impressive
Pavel P
Really community oriented behaviour!
Sid Nirvana
If you like what you see, and want to hold ANA, doing the
committment is a way to lock in big kickback rewards
Jonah 🏅🎹
| Satoshi Club
Thank you for your clear answers on this one
Are you ready for the next question now?
Sid Nirvana
bring it!
Pavel P
Q2 From Telegram User @Neilselin
The Nirvana protocol sells time-released ANA in a money market. It accepts various difference tokens in exchange for time-released ANA contracts with various different maturity lengths.could you elaborate on the different maturity lengths of the time-release ANA? what are the requirements to acquire the time-release ANA?Are the token that can be used for the exchange for time-release ANA in limited number?What are the utilities of the time-released ANA contracts?
Sid Nirvana
Ah – this is Nirvana 201
So, the main way to acquire ANA is through buying it on the
protocol’s AMM. Spot price, instant
delivery. Simple enough.
The second way to get ANA is through executing those prANA
options. The ANA goes right into your
wallet.
Jonah 🏅🎹
| Satoshi Club
And no limits as well??
Sid Nirvana
That’s right. There
is price-impact from your order size, of course — but no hard limits.
But – for more exotic speculators – you can buy a
“bond” of ANA. Or what we like to call “time-released ANA”
These contracts can be 3-day, 5-day, or 10-day. And cover a wide variety of tokens. The relative discounts for each of these is
market driven.
For those who have seen these kinds of “bonds”
before, we have developed a different algorithm for pricing them, so that they
track the spot price accurately. But we
don’t need to get into the weeds here.
Jonah 🏅🎹
| Satoshi Club
What examples of Tokens does the contract cover?
Sid Nirvana
One important thing to point out: trANA is not
necessary. It is just there for
speculators who want to take on risk.
At launch, we are focusing on Solana: Hubble USDH, Synthetify
xUSD.
Also USDC.
Next up will be FRAX, UST, and Solana’s UXD.
Nirvana aims to be *universal*.
I think this would be a good time to discuss: what problem
does Nirvana solve?
Why are we doing this?
Stablecoins have 3 fundamental issues:
– Fragmentation. USDC
& USDT are different tokens — though with the same purpose.
– Fragility: If a token loses its peg, cataclysmic failures
follow. Stablecoins must be solid or
they are not worthwhile.
– Security: Stablecoins depend on programs, which can be
exploited or regulated.
Nirvana addresses all three of these, creating a
“superstable” token.
It collects up & de-frags stablecoin liquidity into a
single reserve.
Its own stablecoin NIRV is backed by a diverse basket, and
so holds its peg even when others fail.
Sid Nirvana
It is de-risking through diversification.
Pavel P
A reason for SatoshiClubbers to analyze Nirvana attentively.
it looks to become a treasure!
Jonah 🏅🎹
| Satoshi Club
Nirvana is indeed stacked with a lot of exciting stuffs
Thank you for your great responses so far
Ready now for the next question?
Sid Nirvana
bring it
Pavel P
Q3 From Telegram User @sunny_steel
As far as I understand, with the options of permanent rising floor that guarantees NIRV token will never sell below a certain price and simultaneous NIRV staking options the benefits for stakers look obvious – their investments will provide more value over tome with 100% guarantee. What are the staking options offered by Nirvana? Will you try to set a higher entrance level or users can stake even 1 NIRV? Does your staking foresee any Airdrops in future? Thanks!
Sid Nirvana
Great question about the tokenomics!
Let’s start with the basics:
NIRV is stable
ANA is volatile.
Yin & yang.
NIRV is not staked, but ANA is.
Since ANA is the volatile, risky asset.
Staking ANA rewards you with prANA (pre-ANA, options to buy
ANA at the floor)
Think of NIRV like DAI.
It is *borrowed*, using ANA as collateral.
NIRV is not staked, but it is yours to *spend*
You can even use NIRV to lever up your ANA, by buying more
The neat thing about NIRV loans is that they are
risk-free. No chance of liquidation.
The reason here is simple, and it comes back to the floor
price of ANA:
your NIRV loan is equivalent to the floor price of your ANA
collateral
Since ANA cannot go beneath the floor,
your NIRV debt can never exceed the value of your collateral
So you can never be liquidated!
Moreover, your ANA is accruing yield. So your loan has a “negative interest
rate”
And that’s staking!
Jonah 🏅🎹
| Satoshi Club
Insane
So In other words every holder is a staker?
Sid Nirvana
Not necessarily . . .
Staking is always a decision you make when deploying your
assets
You can, of course, send your ANA elsewhere.
You could lend it, farm it, deposit it in an AMM as a
liquidity provider.
Or you can stake it on Nirvana itself.
It’s up to the market to decide.
One key thing Nirvana offers natively is: NIRV loans
If you use your ANA as collateral on Nirvana, you can draft
out NIRV borrow.
Jonah 🏅🎹
| Satoshi Club
Awesome
Sid Nirvana
At the floor price
So, say ANA is trading at $20 and the floor is $10.
You buy an ANA, stake it, and take out a NIRV loan.
Now you have $20 in ANA, and $10 in NIRV. $30 in total value!
Pavel P
How can you keep such financial model work for Nirvana
itself?
You give back much more than you receive as liquidity
Sid Nirvana
It’s good to be skeptical
The economics work because you are *locking* away your ANA,
and your NIRV loan is *strictly less* than the collateral you post.
So your NIRV loan is backed by ANA, which is in turn backed
by stablecoins
Jonah 🏅🎹
| Satoshi Club
Thank you for your Answers
Ready for the next question now?
Sid Nirvana
yes indeed
Pavel P
Q4 From Telegram User @Rozielyna
Nirvana is set to launch on AcceleRaytor for $prANA, one of the 3 tokens in the Nirvana Protocol, along with $NIRV and $ANA. And the AcceleRaytor Raise will be $prANA AcceleRaytor Public Raise and $prANA IDO on Raydium. Can you tell us more about the $prANA public raise and IDO ? How does it work? What will be the total supply for each of them and the price for the token on Public raise and IDO ? What are the requirements/ how can users be eligible to participate in the public raise and IDO?
Sid Nirvana
The Raydium AcceleRaytor will release 125k prANA tokens at
$2 each.
This is a very small distribution – and its purpose is just
to get prANA to the people
This is not a “raise” or IDO in any traditional
sense
Nirvana has no protocol token! And no “team allocation”
It is just a protocol that produces a reserve and gives it
back in the form of NIRV & ANA
Jonah 🏅🎹
| Satoshi Club
When is the date for this?
Sid Nirvana
We are VC-less. Not
releasing a token with a special supply and vesting schedule.
Alright – I think we’re coming up on the hour – and I want
to respect all your time.
Do we have any other questions? This has been fun!
Jonah 🏅🎹
| Satoshi Club
Yes
Let’s proceed to the next one
Pavel P
Q5 From Telegram User @rotoxy
Since your protocol has no pre-allocation of token to team, marketing, development or any purpose, you said that fees will be essential to ensure your protocol can continue to run. I saw different types of fees such as trading fees, contract purchase fees, NIRV loan origination fees, NIRV stability fees, and ecosystem growth fees. Can you tell us at what point of protocol usage when these fees will be demanded from users and how they are going to be used to scale the health of your protocol? Don’t you think too many fees may have effect on users because I saw that you charge as high as 20% for NIRV stability fees? Where will the proceeds from these fees be kept and will there be a DAO to review fees or determine how and when fees-generated revenue will be used?
Sid Nirvana
Great point.
Typically, protocol’s will fund themselves by issuing a
token.
And then the insiders (VCs & founders) will sell the
token to the community.
Since there has to be some other side to the trade, the
community ends up paying for this.
Nirvana wants to go a different way.
It is “tokenless” — so it does not require funny
secondary markets.
Instead, this fee oriented approach means that the protocol
only funds itself if the market *uses* the protocol
This goes back to our principal of fairness
There should be no compensation if there is no demand for
the protocol.
We believe that an honest, transparent fee structure is
actually better for the users and the community.
And it means everything scales together.
Pavel P
100% agree!
Sid Nirvana
Less adoption = les fee revenue, and so there is no overly
dilutive “death spiral” that can make protocols collapse
Happy to answer questions about fees in more detail in our
Discord about the specifics
discord.gg/nirvanafi
Pavel P
This has been so detailed so far!
Jonah 🏅🎹
| Satoshi Club
You’ve provided impressive answers so far
Sid Nirvana
you’re too kind
Jonah 🏅🎹
| Satoshi Club
Right now we have one question left for this part
Pavel P
Q6 From Telegram User @Highpee
Although I am yet to see your full roadmap, I went through your protocol available resources and I am yet to see any NFT related application and Metaverse related features in your present protocol design. Can you share the roles NFT will be expected to play in Nirvana, considering that NFTs is a popular blockchain topic at the moment? Do you plans gamification and since you already have the MetaStablecoin, are there plans to enter the metaverse? Lastly, can you share your roadmap and some of the events you have lined up for the rest of the year?
Sid Nirvana
NFTs are on the roadmap.
As you can see, Nirvana loves to rethink things from the
ground up.
Super secret plans that I can’t share now
Jonah 🏅🎹
| Satoshi Club
Understood
Do you have any planned activity that you can share?
Sid Nirvana
Nothing yet. But
let’s just say they will have true, valuable utility with the protocol.
We are starting the enlightened cryptomonk revolution.
Pavel P
Before we proceed to LIVE part please share your official
links with our community
We have an active community ready to answer questions!
Pavel P
Thank you!
Jonah 🏅🎹
| Satoshi Club
Thank you for your answers in this first part of our AMA
Pavel P
So, we are ready to proceed to LIVE questions from our
community!
Pavel P
Get ready for some action now!
Jonah 🏅🎹
| Satoshi Club
Are you ready for the storm ?
Pavel P
We will open chat for 120 sec
Sid Nirvana
let’s do this!
Pavel P
Once we close it back please choose 10 questions to answer
Part 2 — live questions from the Telegram community
Q1 from Telegram user @Karoceh
You mentioned pre-ANA is best thought of as an option to buy ANA at its current floor price. But what is the plans to encourage pre-ANA holder to keep their ANA? Have you anticipated massive ANA sales if traders want to chase short profits??
Sid Nirvana ANA is not just for selling! You can also lock ANA to mint NIRV – which is more value. Especially if you bought ANA at the floor price. This 2-token system balances the sell-pressure for ANA, giving people another use case for it.
Q2 from Telegram user @Ravan_since_1996
Has Nirvana partnered with any other project yet? Or have thought of partnering with any project in the future?
Sid Nirvana
Yes! Raydium and Hubble are official. We are in talks with several lending and perpetual dexes. We are also going to work with Terra to bring massive UST into the solana ecosystem.
Q3 from Telegram user @Aiza32
Nirvana introduced a new concept that I never saw before in a Stablecoin, the “Metastable” coin, can you explain us exactly how works the collaterizaton mechanism of the ANA token? How is possible to this coin have a limited downside considering the current market situation?
Sid Nirvana ANA has a firm floor made of diversified stablecoins. These provide backing for the token. ANA is “partially collateralized” in this sense, that its price can go up, but can only go down so far. It is “metastable” because it is beyond stable
Q4 from Telegram user @Savitasapra3
What makes $NIRV token more stable in comparision to other stable coin or tokens such as USDC, USDT, DAI, etc which are currently having large market share in stable Coins or Tokens?
Sid Nirvana
NIRV is superstable through diversification If a single stablecoin loses its peg, NIRV’s diversified backing absorbs that shock Holding NIRV de-risks your exposure to individual stablecoins.
Q5 from Telegram user @Manugotsuka
I realized that Nirvana use a similar mechanics of a rebase token, but I’m not really sure, so can we consider you a rebase token? If not what are the elements that make you differ from a rebase token?
Sid Nirvana
It is actually not a “rebase” token. Rebase tokens emit more of the same token to depress the price, and reward early adopters. This is a form of price control through dilution. Nirvana rewards stakers with “options” (prANA). It does not emit ANA or NIRV. Staking ANA does not reward you with more ANA — that pattern leads to house-of-cards ponzi dynamics. Nirvana is built for long-term sustainability.
Q6 from Telegram user@MCBTrade
Could the concept of a “superstable” token be a revolution for the future of DeFi? Could you tell us about the adoption level of this model in crypto?
Sid Nirvana We think so! This is a 2nd-generation project. It could only come after the first wave of stablecoins appeared. So, many stablecoins are all competing with each other, and fragmenting liquidity. Nirvana’s mission is to unite them all. We are all one in Nirvana. Ommmmm. It makes for a token that is stronger through diversification.
Q7 from Telegram user @jameslekan664
It was stated that Nirvana provides limited DOWNSIDE but unlimited UPSIDE. I believe DOWNSIDE means negative consequences while UPSIDE means positive effects. I would like to know; what exact DOWNSIDES will the Nirvana platform put a limit to and what UPSIDES does the Nirvana platform hold for users?. What major edge does Nirvana have over other similar platforms to improve the overall user experience and ensure user retention?
Sid Nirvana That’s right. What this is about is risk. ANA can only fall to floor, but it can rise indefinitely. And the floor rises with adoption.
Q8 from Telegram user @Josegamboac
What type of Staking is developed in Nirvana? How does it work? What kind of rewards can be obtained through the Nirvana staking system? Who can participate in the Nirvana Staking system?
Sid Nirvana Staking is unique on Nirvana You stake ANA to be rewarded with prANA (pre-ANA) — an option to buy ANA at the floor price. This way of rewarding with options is a new approach to sustainable APYs
Q9 from Telegram user @Einsteinyl
Can you explain more detail about how to earn prANA reward from Nirvana? What are the requirement?
Sid Nirvana
Simply stake your ANA! prANA is emitted continuously to ANA stakers.
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
For more information and future AMAs, join our Social Media channels:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Nirvana Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Nirvana
For more details: Nirvana Website – nirvana.finance Nirvana Telegram – @nirvanafi Satoshi Club – @satoshi_club Russian – @satoshi_club_ru Spanish – @satoshi_club_spanish
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Chapter X Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Chapter X
For more details: Chapter X Website – chapterx.world Chapter X Discord – @ChapterX Satoshi Club – @satoshi_club Russian – @satoshi_club_ru Spanish – @satoshi_club_spanish
⚠️Requirements: 👉 Join Indonesia Satoshi Club Telegram group 👉 Join Libcoin Telegram chat
We will have the following structure:
Part 1: 50 /5 users – We’ll select 5 questions from the community. A user can post maximum 3 questions. 5 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 50/5 users – Open chat for 120 seconds. You can post Max 3 questions. Libcoin Team will select 5 questions and answer them.
For more details: Libcoin – @libcoin_official Satoshi Club – @satoshi_club Russian – @satoshi_club_ru Spanish – @satoshi_club_spanish Indonesia – @satoshi_club_indonesia
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from The Tiger Clan and our guest was . The AMA took place on the 1st of April.
The AMA session was divided into 3 parts with a total crypto reward pool of $500
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Mary | Satoshi Club
Hello Satoshi Club!
We are happy to announce our AMA session with The Tiger Clan! Welcome to Satoshi Club
Jonah 🏅🎹
| Satoshi Club
Our guests today are
@mt_ttc , @Usmanaly1,
@khizarnaeem, and @david_ttc
Hello welcome to Satoshi club
Mary | Satoshi Club
Ama is postponed on 15 minutes
@mt_ttc , @Usmanaly1, @khizarnaeem, and @david_ttc welcome here
Usman
Hello everyone
Mason – The Tiger Clan
Thank you! We’re excited to be here – Satoshi club
Mary | Satoshi Club
Hello! Happy to see you, guys here today
Jonah 🏅🎹
| Satoshi Club
Hello you are all welcome here
We are Glad to have you all here
David – The Tiger Clan
So excited to be here
KeysR – TTC
Excited about the AMA.
Mary | Satoshi Club
We are excited as well , let’s start our AMA party
Usman
lets do it
Mary | Satoshi Club
Could you please introduce yourselves and tell us more about
The Tiger Clan
Mason – The Tiger Clan
Sure!
This is Mason, CEO of The Tiger Clan.
Usman
Usman here I am the Co-Founder and COO of TTC, A computer scientist and a blockchain enthusiast determined to change the dynamics of NFTs, Crypto tokens, Digital Racing, Web 3.0, and Metaverse. I believes in living every moment to the fullest, and thus wants the members to enjoy being part of the TTC family!
David – The Tiger Clan
My name is David and I am the VP of Product at The Tiger
Clan and have almost 10 years experience in software engineering.
Mary | Satoshi Club
What are main goals for The Tiger Clan? What is your project
about?
KeysR – TTC
Hi, I’m Khizar “KeysR”, the Director of Marketing
at TTC. I’m leading the marketing and branding efforts at TTC.
Mason – The Tiger Clan
Our main goal is digital racing. Currently we’re focusing on
10K Tiger NFT generation and started building digital car racing &
metaverse integration.
Jonah 🏅🎹
| Satoshi Club
Interesting
Mary | Satoshi Club
Wow, it’s interesting! Someone of you have experience in car
racing?
KeysR – TTC
I do have experience with car racing and actually I have
experience with extreme sports competition as well. I have participated in
skydiving speed racing competitions around Europe in 2015 and 2016.
Jonah 🏅🎹
| Satoshi Club
This is awesome
KeysR – TTC
Besides that, I’m a huge fan of Formula 1 for the last 12
years. Go Max!!
Mary | Satoshi Club
Really cool! You are my hero
Jonah 🏅🎹
| Satoshi Club
It’s great to see how you’ve built on your passion all the
way here
Mary | Satoshi Club
What can you tell us about The Tiger Clan team? How big is
it?
Mason – The Tiger Clan
We have a team of 20 and we have in-house designers and team
of frontend, back-end, blockchain, and ui/ux designers. We are planning to hire
more technical persons.
Mary | Satoshi Club
Is your team anonymous ?
Mason – The Tiger Clan
yes
Mary | Satoshi Club
What is the reason?
Jonah 🏅🎹
| Satoshi Club
And do you plan on revealing them in the future?
KeysR – TTC
We chose to remain anonymous because we believe in Metaverse
and we believe that the world is moving to a place wehre metaverse identities
will matter more than our real life identities.
This is why some celeberities like Serena Williams, Jay-Z
have claimed their crypto punks so they can build their metaverse identities.
In the Phase 5 of the project, we integrate with metaverse
and we would like you to know us by our metaverse identity.
This is why I use “KeysR” next to me name. This is
my metaverse name.
Mary | Satoshi Club
Got it
Jonah 🏅🎹
| Satoshi Club
Great
Mary | Satoshi Club
Thank you for your intro guys! We choose 6 questions from
our community for the first part . Are you ready to start?
Usman
Yess
Jonah 🏅🎹
| Satoshi Club
Q1 from Telegram User @thisistoyin
The Success of every or Any Project whatsoever lies in the Hands of the Targeted community to which it was Built for. and i Quite noticed a couple of Community events being hosted by Your Platform “The Tiger Clan” On your Discord channel. i learnt that whitelisting spots would be awarded to Active members in the Community, and also for everyone that crosses Level 3 on the Server also get a whitelist spot.. Please i would like to know how many people do you plan to give these whitlist spot Too for the Active community members?, and how many people would also be selected for reaching these Level 3 on your sever? Might there also be any events hosted by your Platform that we could possibly participate in? to keep your Community engaged and growing?
Usman
We have 888 NFTs listed for the pre-sale and we are giving
away up to 1000 whitelist spots during the competitions. There are multiple
competitions planned in the coming weeks both on Discord and Twitter. You can
keep an eye on our Twitter and Discord to participate in these competitions.
We do not have a set
number on how many people the level 3 will be limited to. Our goal is to grow
the community so we can engage with you during all phases. While there is no
limit on the number of people in level 3, there are additional levels available
as well. You can reach up to level 60 in Discord and higher you go, more
exclusive access you get to our future plans.
Mary | Satoshi Club
In many WL projects, seats were distributed according to
this principle. But after the sale, people left and the activity of the project
decreased sharply, almost to zero. What will you do to prevent this from
happening to your project?
KeysR – TTC
We are aware of this happening to other projects. According
to our analysis what went wrong with most of the projects was a lack of vision
and plan to engage with the community. We are doing it differently.
Jonah 🏅🎹
| Satoshi Club
Yes indeed when there is good vision and plans investors are
always willing to stay
Mary | Satoshi Club
Also, as far as I know, whales often hire people to get them
a place in the WL, that is, in a chat, people communicate not for the sake of
communication, but for the sake of getting the WL for their master. What is your
attitude to this?
KeysR – TTC
We have a vision and plan to execute the future phases of
the project and this is why we plan to keep engagement with the community going
on. A small example is, as the marketing director, I am scaling up the
community team to ensure the engagement stays high even after the sale.
KeysR – TTC
@mary, great point. We are closely monitoring our Discord
community for these reasons exactly. Actually we might be the one of the few
projects that have purges WL spots because of these reasons.
Jonah 🏅🎹
| Satoshi Club
Impressive
Mary | Satoshi Club
Wow, that’s great! I am happy that you pay attention to this
Mary | Satoshi Club
Thank you for your answers! Ready to proceed?
KeysR – TTC
Our goal is to have an active and engaged community, not just
buyers. Our plans are ambitious and we believe in the power of community to
shape the future of the community and we are willing to make hard decisions to
stick to our values. Decisions like purging WL spots.
future of the tiger clan* (correction)
Mary | Satoshi Club
I love this vision
Jonah 🏅🎹
| Satoshi Club
This is great and it’s good to know that you are working on
this issue
Usman
yes we are ready
Jonah 🏅🎹
| Satoshi Club
Q2 from Telegram User @ghostofcharmeleon
Hello, Tiger Clan team.
First of all, I would like to express my admiration for the level of quality and elaboration of your art. They are amazing! As I understand from the description of your project, if I buy an NFT tiger, I will be able to claim a free car to participate in races in the future. Please tell me, and without owning a tiger, will I be able to, say, buy a car on the market? Will the car also be NFT? And will I be able to race with only a car and not a tiger?
Mason – The Tiger Clan
Tiger NFT owners can claim a digital car and participate in
racing. Once a car object(NFT) is generated, any user can see them on OpenSea
which means anyone can buy a car NFT in the secondary market. Car owners will
be able to race against to each other. You can participate in the races using a
car (or other assets in the future e.g. horses dogs) but you cannot use the
Tiger NFT to paricipate in the races.
Jonah 🏅🎹
| Satoshi Club]
So the claim will be one NFT per car?
Mary | Satoshi Club
It turns out the number of cars will be limited?
KeysR – TTC
Initially the claim will be one car per NFT indeed.
During the Phase 3. Once we get to the later Phases. NFT
owners will be able to claim $TTCC tokens as well
Jonah 🏅🎹
| Satoshi Club
We will talk a bit as well about $TTCC later, but when is
phase 3 starting?
KeysR – TTC
@mary, Yes during the Phase 3 the car numbers will be
limited as the racing will be in “beta” phase. Once the racing gets
to public release, NFT owners will be able to mint more assets or $TTCC holders
will be able to buy assets e.g. dogs, horses or their own avatar.
Mary | Satoshi Club
Gotcha
KeysR – TTC
Phase 3 will start right after the public sale, we are
already busy planning the roadmap in detail. We plan to have beta live in Q3.
Jonah 🏅🎹
| Satoshi Club
Great.. so much to look out for in the public release
Mary | Satoshi Club
Thank you for your answers guys! Ready to go to the next
question?
Mason – The Tiger Clan
Yes, we are ready to go
Jonah 🏅🎹
| Satoshi Club
Q3 from Telegram User @Blessingchum
The Tiger’s Clan will soon be launching it’s ERC-20 based token speaking of the $TTC token. I will like to know; what will be the various utilities of the TTC token on the platform, in the race game and in the metaverse?.. Will $TTC token have staking functions? What benefits will the TTC token holders have, will they probably have a voice in governance?.. Furthermore, why choose ethereum considering the high gas fees and scalabilty problems.. Is there plans of bridging other networks with low gas fees and high scalability?
Thanks in advance
David – The Tiger Clan
TTCC toekn used as a reward for winners who participate in
the races. in the future, TTC token owners will be able to participate in the
races by buying digital assets on our platform. At the moment, we are not
considering a governance model. However, this is open for discussion as we
progress through the future phases. We want out community to actively engage
with us so we can together shape the future of The Tiger Clan.
David – The Tiger Clan
There are few reason for us to choose Ethereum blockchain:
Mary | Satoshi Club
Do you have tokenomics that can be shared with our
community?
David – The Tiger Clan
1. Ethereum is one of the most powerful blockchain among
users, so more people are familiar with it.
2. The most popular NFT collections are launched on the
Ethereum blockchain.
3. Due to its high gas fees, Ethereum is more secure because
it mitigates users from spamming the network.
4. You can auction your NFTs instead of selling them for a
fixed price. This feature is only available on Ethereum.
David – The Tiger Clan
Lastly, we are using ERC-721A for minting NFTS. it has low
gas fees rather than ERC-721.
Mason – The Tiger Clan
Yes, we have tokenomics in our whitepaper. You can check it
in our website.
Thank you for your answers! Ready to jump to the next
question?
Jonah 🏅🎹
| Satoshi Club
Thanks for this
Mason – The Tiger Clan
Yes, we are
Jonah 🏅🎹
| Satoshi Club
Q4 From Telegram User @Modrumz120
I interestingly read from your website that You intend on building a 3D animation of cars with your investor’s NFT tigers on it. Only Tiger owners can join our exclusive online race. I’m curious to know, can you elaborate on how you intend on building the 3D animation of cars and what are going to be its main features? Are investors/users of the Tiger Clan platform also allowed to be involved in the building of the 3D animation of cars? What are requirements needed for users/investors to be involved in the building of the 3D animation of cars? Lastly,What are the benefits attached to winners of the race? Thanks.
David – The Tiger Clan
We intend to generate 3D animation of cars
with our investors’ NFT tigers on
it. Only Tiger NFT / $TTCC Token owners can join our exclusive online race.
We’re going to generate car images that will combine the Tiger NFT IDs and
their unique colors. We use AI to manage the races. Our software determines the
winners based on different factors such as properties of cars, previous racing
record and element of randomness!
In the later phases we are even going to the extent of 3D
animating all the vehicles and objects, including horses, tigers, boats, dogs,
and 100m men/women. The logic for all races is the same regardless of the
objects being used.
Initially the cars will be generated based on the NFTs but
in the future once we integrate with metaverse, there will be more options to
customize your racing assets. For example, you will be able to buy or win
add-ons (speed boost) to customize racing assets.
Winners will be rewarded with $TTCC token based on their
finishing position in the race.
Mary | Satoshi Club
How expensive will be to start playing?
David – The Tiger Clan
For example
David – The Tiger Clan
A typical race will have 10 participants and 5 winners.
Prizes will be distributed among these winners. 1st place will receive 25% of
the total prize, 2nd place: 14%, 3rd place: 7%, 4th place: 3% and 5th place:
1%.
Jonah 🏅🎹
| Satoshi Club
What is the prize is it fixed?
KeysR – TTC
There is no cost to play. If you own the NFT, you can mint a car and participate in the race . Or you can buy the cars on Opensea if someone lists then.
Mary | Satoshi Club
Oh, understand , what will be the price for
mint?
KeysR – TTC
Minting a Tiger NFT costs 0.18 in public sale. In pre-sale
they are available for 0.15 ETH. Once you own the NFT, minting a car will be
free.
The prize will be $TTCC tokens. The actual amount is
determined based on the supply of the token. I can’t provide a specific number
right now as we have not launched the token yet. This will become clear in coming
phases.
Jonah 🏅🎹
| Satoshi Club
Understood
Mary | Satoshi Club
Thank you for your answers! Ready for the next question?
Mason – The Tiger Clan
Yes
Jonah 🏅🎹
| Satoshi Club
Q5 From Telegram User @GracieEne
I read that you have an exciting new raffle, Airdrop, and NFT Token giveaway event where you’ll pick investors randomly and gift them unique prizes. How will you go about this random selection? When will this giveaway event take place and how many investors do you plan on picking for the event? What are the requirements for users to be able to take part in these giveaways? Asides giving winners a unique tiger NFT, are there other prizes winners get? You made mention that the NFTS of users will unlock their VIP access to Digital Racing, and several other benefits. What are the other benefits that users get to enjoy as members?
Usman – TTC Admin
The Tiger Clan will airdrop unique prizes to NFT owners in
the Phase 2.
These prizes include 5 x 1 ETH and 100 x 1 TTC NFT. To
participate in the giveaway, you will have to own a TTC NFT before the airdrop
date in Q2.
We will use a random number generator function in smart
contract to pick the winners and announce the winners on our website, social
media and Discord.
At the moment, we are giving away free whitelist spots to
users. Please join our Discord to know how to get on the whitelists.
Pssst! There will be free mints for WL members too.
As for the Tigers, there are 3 types of Tigers: Normal, Rare
and Legendary.
Jonah 🏅🎹
| Satoshi Club
Q2 is already here
Mary | Satoshi Club
Nice strategy! Giveaways always work!
Usman – TTC Admin
-Normal (9900 NFTs)
Allows you to mint cars to participate in races.
Mint a normal car for the race.
-Rare (90 NFTs)
All perks for normal tigers.
Mint a faster and reliable car to increase your chances to
be in the top 5 more often.
-Legendary (10 NFTs)
All perks for rare tigers.
Mint the very best car to increase chances to be in the top
3 more often.
Jonah 🏅🎹
| Satoshi Club
Wanted asking about the numbers
KeysR – TTC
So true haha. It started today. Our public release date is
on 29 April. So Airdrop will follow towards end of May.
Mary | Satoshi Club
Very soon
Jonah 🏅🎹
| Satoshi Club
Exciting, the community has a lot to look forward to
KeysR – TTC
Btw, so sus to have an AMA on April Fools day
Mary | Satoshi Club
Ahaha, hope everything you told us today isn’t a joke?
Jonah 🏅🎹
| Satoshi Club
it has to be real…
Mary | Satoshi Club
I am sure!
KeysR – TTC
Definitely real
Jonah 🏅🎹
| Satoshi Club
Thank you for your answers guys
Mary | Satoshi Club
Thank you for your answers guys! Ready for the 6th and last
question from this part?
Mason – The Tiger Clan
Yes
KeysR – TTC
We are ready!
Jonah 🏅🎹
| Satoshi Club
Q6 From Telegram User @iceVermithraxx
The Tiger Clan is producing a limited number of unique NFTs prepared by artists. A total of 10,000 NFTs will be launched, consisting of unique fine art pieces created by the artists. will there be more NFTs minted? I also noted presale of these NFTs coming up this month, can you share more information on upcoming Tiger NFT presale and how users can participate in it? How can users register to become Artists to Help Create Art pieces in Tiger Clan? What are going to be the usecases of these NFTs? I also noted that The Tiger NFT will have staking Feature, can elaborate more on this staking feature?
KeysR – TTC
Many questions in one haha, I’ll address all of these.
Please bear with me.
Mary | Satoshi Club
Take your time
KeysR – TTC
There will only be 10,000 Tiger NFTs ever. Besides that NFTs
owners will be able to mint 3D cars which are also NFTs. Owners of these cars
and holders of $TTCC token (after the token launch) will be able to join the
races.
Regarding the pre-sale, you can get on the Whitelist to
access the pre-sale on April 15th. We are making 888 NFTs available to mint in
the pre-sale @ 0.15ETH. Whitelist members will get reminders before and during
the pre-sale date to mind their NFTs. There is a 2 NFT per wallet limit to
ensure fairness. Please note that only whitelisted members will be able to
participate in the pre-sale.
By the way, we are also giving away very few free mints
spots for the pre-sale (don’t miss that).
Jonah 🏅🎹
| Satoshi Club
Will there be any roll over for those who fail to mint?
Mary | Satoshi Club
How many whitelisted members do you already have?
KeysR – TTC
Regarding staking, the goal of TTC is to bring digital
racing to the metaverse and we do have plans for NFT staking. At the moment
we’re focusing on digital racing so there will be no staking available until
Phase 5. In the Phase 5, our plan is to let NFT owners stake their NFT to
generate assets for example add-ons for the cars. To be completely transparent,
staking pools for users providing liquidity will definitely be available but we
haven’t fully decided in what form. When it comes to racing, there are many
possibilities to use staking mechanisms so we want to make sure we make
decisions that are rewarding for NFT owners and also help us with user
retention in our gaming platform.
Lastly, I love that you are asking how Artists can help
create art pieces. It is heartwarming to see people willing to collaborate with
us. As we did not anticipate this, we
don’t have any clear plan for it but we’d love to have open discussions with artists
who want to be part of our journey. If you want to collaborate with us, hit up
on Discord and we figure out something together.
KeysR – TTC
Absolutely!
Mary | Satoshi Club
Guys, thank you for this amazing first part! Live part of
our AMA is close! Ready for the storm of questions?
Mary | Satoshi Club
Let’s go
Part 2 — live questions from the Telegram community
Q1 from Telegram user @Tavasya23
What Wil be the Most Unique thing in Your Platform, I mean to Say that there are Many Existing NFT Platforms So How You Will Compete In this Highly Competitive NFT Market ?
KeysR – TTC
There are a few unique things. To start, it’s our vision, to bring a real-world like racing to metaverse and we have a committed team behind it. Besides this, our racing will have AI.
AI will be an integral part of our racing engine. Typically in online racing, the outcome is determined by algorithms that take into account strength properties of participants. A problem with such algorithms is that racing becomes predictable and boring.
We are making use of AI to make digital racing feel like a real-world nail biting experience. An experience that will present ‘David vs Goliath’ scenarios and where underdogs will have possibilities and snatch victories. This will be made possible by taking into account:
The properties of cars e.g. agility, speed etc.
Past performance factors such as hot streaks, cold streaks.
Randomness e.g. accidents, engine failure, injury etc.
NFT market is very saturated right now but we are more than just an NFT. We are a metaverse gaming company.
Q2 from Telegram user @NAZMP2
The Tiger Clan NFT is a group of 10,000 unique Tigers who band together on the Ethereum Blockchain to give you privileged access to #DigitalRacing in Metaverse. So, despite the high gas fees, can you tell us why you chose ETH Blockchain?
KeysR – TTC
Great question. There are few reason for us to choose Ethereum blockchain:
Ethereum is one of the most powerful blockchain among users, so more people are familiar with it.
The most popular NFT collections are launched on the Ethereum blockchain.
Due to its high gas fees, Ethereum is more secure because it mitigates users from spamming the network.
You can auction your NFTs instead of selling them for a fixed price. This feature is only available on Ethereum.
We are using ERC-721A for minting NFTS. it has low gas fees rather than ERC-721
Q3 from Telegram user@atmaca111
Marketing is the most important factor for you to reach your target audience with your products and services that you have created by working for months. Therefore, can you explain your strategy in the field of Marketing?
KeysR – TTC
Absolutely. We have user personas, defined for our target audience and we are targeting those users through different channels. These channels are social media and organic outlets in NFT and racing communities. Our goal is to bring people to Discord where we can engage with them to raise awareness about the project and work with the in the future phases to get direct feedback for our product.
Soon enough we will post in-depth content on our blog. Stay tuned to our social media, discord and website.
Q4 from Telegram user Anveshi Jain
Did you think of community feedback or requests to spread the right idea of your product while creating your project? Projects are almost dumped because the target audience and clients do not understand them properly. So I eagerly ask, who is your ideal customer for your product?
KeysR – TTC
It’s a great question. The reality is that getting feedback is easy but filter noise from sound is the most difficult part. This is why “community management” role is important in our company. It is the role of community managers to educate the community on our vision and product.
I agree that projects are dumped because of complication and too ambitious vision. This is why our minimum-viable-product is focused on digital racing, a concept easy to comprehend. We will expand to other areas from there on.
Our ideal customer is racing games enthusiasts who are wonder how can they become part of metaverse.
Q5 from Telegram user @Thisistoyin
For every Play to Earn Gamer in the World, the First thing that comes to mind is how that Specific Platforms earning mechanism is Structured.The Second being the Graphics of that Game. hence, i would like to know how your Earning mechanism is Structured in your Racing game, and what Gaming engine was used in the development of the game?
KeysR – TTC
We are going to use an Unreal Engine (The world’s most open and advanced real-time 3D creation tool). The reward earning is based on participation in the races. Winners get rewarded with $TTCC tokens. In a race 1st place will receive 25% of the total prize, 2nd place: 14%, 3rd place: 7%, 4th place: 3% and 5th place: 1%.
This is an example: So let’s assume total prize pool is 100 $TTCC per race, winner will get 25 $TTCC.
Q6 from Telegram user @coinerman
Can you tell me 1-3 important features of your project that you believe will allow it to compete with other similar projects? What makes your project unique?
KeysR – TTC
The key differentiator is our AI engine that will ensure these digital races are as nail-bitting as real races. This is why will be investing a lot in our AI engine to ensure a great playing experience. I can assure you, our AI engine will be miles ahead of our competitors due to our unique focus on it.
Besides that, two other unique features are betting and reward system. People will not only be able to compete with each other but they will earn reward for winning and those who do not wish to participate will be able to bet on ongoing races
Q7 from Telegram user @charlest1997
The rewards for winning the racing games is $TTCC. What’s the utility of $TTCC as currency inside and outside the ecosystem ? How do you increase the demand of the token for people to buy the tokens rather than winning from the games ?
KeysR – TTC
Exactly. You get $TTCC for winning races. You can use $TTCC inside the platform to buy more assets like cars, or you can buy add-ons like speed boost for the car. $TTCC holders who do not own a Tiger NFT will be able to participate in the races and those who want to bet on the ongoing races will be able to use $TTCC token to do so.
Eventually want to make $TTCC a household name in gaming. In the later stages, we do plan to hire “Head of Partnerships” who will help build partnerships with other platforms in crypto and NFT community to expand the utility of the token.
Q8 from Telegram user @uncrowned_king_007
Can we see THE TIGER CLAN collaborating with another project in the future? I think collaboration with any big gamer give a good boost to this project and attract more users.
KeysR – TTC
Absolutely!! We are actually working on collabs this as we speak. We have a very rigorous process when it comes to collaboration. It is important for us to collaborate with projects and people who share our core values.
We hope to give you good news as soon as we have penned something down. Stay tuned to our discord.
Q9 from Telegram user @musulusoy
New users’ engagement decreases over time due to UI/UX issues in some projects. Have you taken the necessary care during the development phase to avoid any problems in this regard?
KeysR – TTC
We have a team of expert UI/UX designers having years of industry experience in designing. Furthermore, we have expert in usability testing to ensure a great user experience.
This is why we want to keep an open feedback loop with our community (and users) to ensure we are not building in dark but rather building in collaboration with the community.
Q10 from Telegram user @roja169
Hackers tirelessly try to exploit most NFT related project by creating fake versions of NFT’s. Sadly, some investors tend to fall victim. What security measures does TTC have in place to protect it’s investors from being a victim of such scams?. What should I watch out for prior to purchasing the TTC NFT’s to be sure that I am purchasing an original Tiger NFT?. How about your platform’s security; Is the platform secured enough to make sure that users funds are protected?
KeysR – TTC
First of all, we are on mission to get verified on all social platforms and marketplaces as soon as possible. Next to that, we will constantly educate our community on the fake or scam copy-cats. This is to ensure, people are not buying fake Tiger NFTs or TTC assets (like cars).
When it comes to purchasing the authentic NFT by us, please only use our verified and original social media platform or our website. If in doubt, please get in touch with us (discord or website). Also know, we will NEVER ask you to send ETH or BTC to some random wallet address. So stay away from such scams.
Our platform is build on Ethereum blockchain and we are following all industry practices to ensure the security of out platform.
Lastly, we will use custody wallets to save the investments we receive in pre-sale and public sale so ensure the investment is in a safe place while we deploy it on the execution of our vision.
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
For more information and future AMAs, join our Social Media channels:
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from ? Nested Finance and our guest was . The AMA took place on the 31th of March.
The AMA session was divided into 3 parts with a total crypto reward pool of $500
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Gold Rocket | Satoshi Club
Greetings, dear Satoshi Club community! We are pleased to
announce AMA with Nested Finance
Robocop | Satoshi Club
Hello Satoshi Club community ! We are pleased to announce
today AMA with Nested Finance
Robocop | Satoshi Club
Today our special guests are @singk5, @lorexia and
@thongqtran
Gold Rocket | Satoshi Club
Hello and welcome to Satoshi Club, guys!
Thong Tran
Hello everyone, thank you for your warm welcome
Gold Rocket | Satoshi Club
Nice to e-meet you
How are you doing?
Robocop | Satoshi Club
Hello, nice to meet you , do you have partner to join here
also?
Thong Tran
Yes, Rudy, Nested Founder will join us today for the AMA
Gold Rocket | Satoshi Club
We are very glad to conducting AMA with Nested Finance!
Let’s start with the introduction to warm up.
Introduce yourself please. How did you get to be involved in
crypto & Nested Finance. Tell us please about your position in Nested
Finance.
Robocop | Satoshi Club
We are so excited to do AMA with Nested Finance, btw what is
his telegram id ? let us add him
Thong Tran
I think Rudy isn’t yet granted permission to write in the
group yet 🙂
Gold Rocket | Satoshi Club
what is his tg name? I can add him.
Thong Tran
@singk5
Gold Rocket | Satoshi Club
@singk5 Hello and welcome to Satoshi Club
Robocop | Satoshi Club
Welcome to Satoshi Club Rudy, nice to meet you
Rudy | Nested 🧩🇨🇭
Gm all!
Rudy | Nested 🧩🇨🇭
A pleasure to be there!
Gold Rocket | Satoshi Club
We are honoured to have you here today
Let’s start! Introduce yourself please. How did you get to
be involved in crypto & Nested Finance
Rudy | Nested 🧩🇨🇭
Everything started in late 2016 when I contracted a student
loan only to invest all of it in Ethereum. That was my gateway to web3 and I
never left the space since. It was in 2021 that I decided to stop my studies in
artificial intelligence and data science – in one of the most prestigious
French engineering schools – to launch Nested. The company grew from 3 wishful
founders to 15 full-time employees, raised USD 7.5M from some of most prominent
angels and institutional investors, and launched a decentralized social trading
platform to incarnate the idea of SocialFi – all that in barely a year. I also
have some profesionnal experience in market research at Ledger as well as in
Fusion – Anyswap is built on the top of Fusion.
Thong Tran
Hi everyone, my name is Thong, I am with Nested Growth team.
I have been in Crypto since 2018 and have worked with Rudy at Fusion Protocol
from the beginning of their ICO.
Then I have worked in many crypto projects including
Financial Layer 1 DCRM Fusion, Cross-chain Anyswap
Gold Rocket | Satoshi Club
Give us a brief introduction to the project. What is the
essence of Nested Finance
Robocop | Satoshi Club
Thats really impressive ! Both of you have a great background
and experience,
by the way how big are Nested Finance team ?
Rudy | Nested 🧩🇨🇭
We are 15 today!
Gold Rocket | Satoshi Club
@singk5 @thongqtran
great background
Gold Rocket | Satoshi Club
@singk5 @thongqtran
Robocop | Satoshi Club
Can you please introduce more to us about Nested Finance ?
Gold Rocket | Satoshi Club
How long does it take to develop a project? What plans do
you have for the future? And what can we expect from Nested Finance?
Rudy | Nested 🧩🇨🇭
On Nested, you can create and replicate portfolios. Each
portfolio will be tokenized in the form of an NFT that we refer as a NestedNFT.
The user only manages one unique token – The NestedNFT.
You can browse portfolios directly from the Nested dApp,
many filters are available to be sure you find what you’re looking for. It can
also be traders profiles.
When it comes to the perks, each time a friend or a
community member replicates your portfolio – a fully decentralized and easy two
steps projects – you earn a part of the platform’s fees.
The cherry on top is the UX, we are obsessed with it and
while DeFi suffers from over complication, Nested benefits from over
simplification
Thong Tran
Here you can see an example of the NestedNFT Portoflio:
Tell us please about the benefits of Nested Finance. How is
it different from others?
Rudy | Nested 🧩🇨🇭
We are also mobile friendly and multichain. Today, Nested is
available on the BNB chain, Polygon and Avalanche. It will be available on
Ethereum, Optimism, Arbitrum, Fantom, Celo and hopefully Solana before the end
of July.
Gold Rocket | Satoshi Club
Also we would like to know more about your team. Who is on
the project team core?
Rudy | Nested 🧩🇨🇭
Nested is a social trading platform that allows users to –
very simply put – copy or create portfolios from scratch. These portfolios are
what we call “Nested NFTs”. These NFTs have nothing to do with what you would
see on NFT platforms such as OpenSea. Rather, we have decided to use NFTs
because of technological reasons which are as follows:
Rudy | Nested 🧩🇨🇭
For the technology’s potential
– The opportunity to collateralize a portfolio;
– Integration and visualization in the metaverse – potential
to create NFT galleries in the metaverse;
– Have more flexibility by having the ability to showcase
and exchange portfolios ownership through secondary NFT marketplaces (OpenSea,
Rarible, etc);
For security purposes
All the users’ assets are stored inside a reserve which is a
self-custodian smart contract. Each NestedNFT represents a right on this
reserve. Imagine a big safe containing thousands of smaller safes. Each NFT
opens one of these smaller safes. We use to say: “not your key, not your crypto”, at Nested we say: “Your
NestedNFT, your assets.”
Robocop | Satoshi Club
That’s great! i can see that Nested Finance try to reach
other chain as much as possible
Thong Tran
Better fees management:
By creating/sending/gifting or just interacting with one
unique portfolio, instead of having to send all underlying tokens separately
for example, fees are much lower for users;
Strategic pertinence:
Strategies are unique – just as NFTs: it thus makes sense to
tokenize a strategy as an NFT given its non-fungibility;
Our goal being to democratize and socialize DeFi, using NFTs
as a tool – which are widely well known and understood even by neophytes – made
sense;
Gold Rocket | Satoshi Club
it looks quite democratic
Rudy | Nested 🧩🇨🇭
Yes, it’s important to target all available markets!
Rudy | Nested 🧩🇨🇭
Most of the team is there! It was at the Avalanche summit
last week. There are also a few members missing as Thong.
Rudy | Nested 🧩🇨🇭
You can see Alexia our head of growth, Adrien our CTO,
Aurelien our CPO, Gabriel our CCO and other team members.
We are not anon haha!
Robocop | Satoshi Club
Dream team member ! Thank you for sharing this
Rudy | Nested 🧩🇨🇭
I am the one wearing a t-shirt btw, just beside the
cosmonaut
The grey one
I don’t wear an Octopus in real life
Gold Rocket | Satoshi Club
You are wonderful guys! I understand that it is the best
pleasure to work in a dream team.
I just want to share some link if you want to see more
updates of our team in Avalanche Summit
Gold Rocket | Satoshi Club
Thanks for great introduction, we will have several
questions selected for the Part 1. Ready to start?
Rudy | Nested 🧩🇨🇭
Join us on social networks to be updated about our network
launches, the airdrop, the fixing we implement each week and every single other
news we can share.
Gold Rocket | Satoshi Club
Indeed
Robocop | Satoshi Club
Thank you for the great intro, are you ready for the part 1
with 6 question from our community?
Rudy | Nested 🧩🇨🇭
Let’s go!
Robocop | Satoshi Club
Q1 From Telegram User @jameslekan664
Nested offers the cleanest user experience and enables access to all that DeFi has to offer. Leveraging financial NFT’s, Nested brings social trading to DeFi. I understand that a user doesn’t have to know much about DeFi to start trading on Nested as it is possible for users/investors to copy expert traders portfolio..What fees will be charged for a user to copy these portfolios?..Will there be a form of ranking system to see users with the best portfolio?..You also mentioned that, Expert traders earn “Royalties” when their portfolio..What are these “Royalties” and what benefits/advantage does it come with on Nested platform? Lastly, how can traders improve their portfolios in order to increase their chances of earning “royalties”?
Rudy | Nested 🧩🇨🇭
What fees will be charged for a user to copy these
portfolios?
Fees: 1%. The fee is a fix percentage right now, but it will
evolve in the future. It will be one of the parameter controlled by the DAO,
once we will launch the token and the governance.
Will there be a form of ranking system to see users with the
best portfolio?
Yes, the explorer will have many more categories before the
end of June. Today, you can already see the most performing and replicated
portfolios.
Will there be a form of ranking system to see users with the
best portfolio?
Yes, we just designed the new explorer, and there will be a
ranking per user
Expert traders earn “Royalties” when their portfolio..What
are these “Royalties” and what benefits/advantage does it come with on Nested
platform?
First, everyone can create and replicate portfolios, so
absolutely everyone can earn royalties, not only expert traders. Royalties are
a part of the paltform’s fees. You basically earning money at each replication.
Lastly, how can traders improve their portfolios in order to
increase their chances of earning “royalties”?
My advice would be: build a community and make them earn
money through your portfolio. You have to be very carefull with them. Some
time, swapping all your assets in stable coins might be a good choice to avoid
losing money when the market dumps.
Robocop | Satoshi Club
Thank you for the detail answer, btw what are all
requirement if new user want to copy from expert ? is it only need to pay the
fees?
Thong Tran
Because we are a democratized DeFi Social platform ,
creating and copying a NestedNFT Portfolio is permissionless, any one can
choose to do it without limitation. The only things that will be required is
the network fee and the platform fees which is a usual requirements from other
DeFi tools
Thong Tran
Gold Rocket | Satoshi Club
Thanks for your great answers and clarification. Are you
ready for the next question?
Robocop | Satoshi Club
Got it, Thank you. Let’s go to next question ?
Robocop | Satoshi Club
Q2 From Telegram User @Blessingchum
$NST is the native token of Nested Finance platform. I read that it is designed to facilitate and incentivize the decentralized governance of the protocol. Speaking of “governance”, how does the Nested governance work? Will every user have a voting right to aid the platform’s development?. You also mentioned that $NST boosts users experience by unlocking some unique features. What are these features and how does it enhance the overall user’s experience?
Thong Tran
The NST will mainly be a governance token: as a token
holder, you will be able to monitor Nested protocol’s metrics (fees, royalties,
etc.) but also to submit proposals.
Also, as a token holder, you will benefit from a discount on
platform fees. We will encourage our users to lock them the longest as possible
and to lock as many tokens as possible to benefit from multiple advantages
within the platform.
We will also, with a part of the profit, either buy back the
NST tokens on the market and lock the purchased tokens for one year (the DAO
will decide) or distribute the profit to token stakers.
Finally, there will be mechanisms to bootstrap the liquidity
of the tokens on decentralized exchanges.
Thank you for share this, lets go to next question
Robocop | Satoshi Club
Q3 From Telegram User @Neilselin
I learnt that in Nested VIP Tiers Users who stake a specific amount of NST tokens are eligible for a discount on protocol fees. Can you elaborate more on the VIP Tiers ?what are the requirements an interested user needs to meet to be eligible to join the VIP Tiers?what other incentives does the VIP Tiers comes with other than just the discount on the protocol fees?when a user stakes more than the specified amount, does that mean he will get more discount? Network run efficiently?
Rudy | Nested 🧩🇨🇭
Everthing we can share about the token has been sent above,
sorry guys! You will have to wait for the TGE.
Robocop | Satoshi Club
Can’t wait, don’t forget to share the new update with us
How about audit for the smart contract?
Gotcha
Rudy | Nested 🧩🇨🇭
We take the matter of security very seriously: in this
regard, we have conducted security audits — by Code4rena, Peckshield, Certik
and Red4Sec — that demonstrated the impermeability of our solution.
Thank you for make safety and security as main priotity for
Nested Finance !
Gold Rocket | Satoshi Club
Thanks for sharing
Robocop | Satoshi Club
Do you want to add something or we can proceed to the next
question
Rudy | Nested 🧩🇨🇭
Yes, let’s work on the next question
Robocop | Satoshi Club
Q4 from Telegram User @Billz120
Hi Team Nested Finance- it caught my attention to know that You co- hosted a little event which you did said with GSR, Quantstamp and Republic Crypto this Tuesday 22nd, 2022 to meet and chat about the Avalanche summit, etc. What was the Avalanche summit about could you please explain to us? Was the summit a success? Could please tell us the full meaning of GSR? Of what benefit is Quantstamp and Republic Crypto to Nested Finance in regards to the supposed co-hosting the said little event? Finally, could explain to us enthusiasts the benefit of this summit to Nested Finance Community?
Gold Rocket | Satoshi Club
Most of the team is there! It was at the Avalanche summit
last week. There are also a few members missing as Thong.
Rudy | Nested 🧩🇨🇭
We were sponsoring the event! It was about meeting as many
Avalanche builders, frens and other projects as possible.
Republic invested in Nested. About Quantstamp, it was just
an opportunity to co-host an event with them but nothing more.
For enthusiasts, please read our article about the avalanche
summit!
Gold Rocket | Satoshi Club
Congratulations
It’s a big milestone
Thanks for your answer
Do you want to add something? Or can we proceed with the
next question?
Rudy | Nested 🧩🇨🇭
We can proceed with the next question
Robocop | Satoshi Club
Q5 from Telegram User @ghostofcharmeleon
Hello, the Nested team.
I looked at the Nested app, it’s very user friendly and pleasing to the eye, great job! I had an idea. I can create a portfolio separately in each network, but as I understand it, I cannot form a multi-network portfolio. Do you plan to provide such an opportunity in the future? Perhaps you can come up with a multi NFT, which will consist of different NFT capacities. How do you like this idea?
Rudy | Nested 🧩🇨🇭
Cross-chain technology aren’t mature enough yet but this is
something we explore and I hope we will implement in 2023!
I am very excited about this idea and want to do it since
day 1!
We just need to wait for the technology to be there! DeFi is
still a young market!
Robocop | Satoshi Club
Speak of 2023, im really excited with what new update that
Nested Finance will bring in the near future, can you please share with us your
Road Map ?
Gold Rocket | Satoshi Club
Satoshi Clubbers know how to be in trends and feel great
projects like yours.
Thong Tran
We have several phases of development: Puzzle, Lego, Tetrist,
Rubik and Matrioshka
Under Puzzle, we basically gave the ability to users to
create, edit, liquidate and replicate portfolios. Basically everything you have
so far in our platform.
Through Lego, we built a modular architecture enabling our
engineers to plug any other third parties to Nested. It’s the first layer to
build the one-stop DeFi app we are aiming at.
The next version is Tetris
For Tetris, the idea is to focus more on community and
social features – with the ability for users to comment on portfolios,
communicate through a chatbox, connect to and follow other profiles, tip
performing portfolios, etc. Basically the idea being that we socialize the use
of DeFi as much as possible.
Tetris will also be a technical and exciting challenge as we
will plug yield and lending platforms such as Aave, Curve, Convex, and Yearn –
more will come later. Then, our users will have the opportunity to stake their
assets from the Nested interface and directly to other platforms.
Under Tetris we will also be scaling and integrating other
chains, namely Celo, Optimism, Arbitrium, Ethereum and Fantom.
For Rubik, we will plug borrowing protocols, you will now be
able to borrow directly from the Nested interface and build complex trading
strategies.
At the end of Rubik, people will be able to build and copy
trading strategies but also saving and borrowing strategies.
Your Nested portfolios will react as a vault generating
interest
Finally Matrioshka! People will be able to set limit orders
directly from the Nested interface and import their NFTs to their Nested
portfolios. Your portfolio won’t only be a set of ERC20/BEP20/… anymore but
also a set of NFTs (BAYC, MAYC, etc.).
Robocop | Satoshi Club
Thank you for the detail and clear answer, are you ready for
the last question for part 1 ?
Gold Rocket | Satoshi Club
Sounds really no ordinary and smart
Thong Tran
Yes we are ready
Robocop | Satoshi Club
Q6 from Telegram User @thisistoyin
Hi Nested Team.
To be able to win your $50 NFT give away, I tried Connecting to your Portfolio via your website using BNB chain via Metamask, Coinwallet, walletconnect etc.. but it was unable to connect, is there a reason for this? Furthermore,
No matter how Great A Platform is, Having A Great User Experience gives it more taste and Sets them apart from their numerous Competitors. And it was Quite stated that Nested would Provide the Cleanest User Experience and access to everything DeFi has to offer. Hence, i would like to know if Your Platform is Suitable and accessible for Beginners to also participate and Learn about the Numerous Functions and Advantages Nested Have to offer. Could you also Help in Elaborating more on your fees Management in the Aspect of Creating a Portfolio? What does it cost in creating a portfolio? Can i have just a single portfolio for managing all my tokens or I’d have to create separate Portfolio’s?? Thank you
Rudy | Nested 🧩🇨🇭To be able
to win your $50 NFT give away, I tried Connecting to your Portfolio via your
website using BNB chain via Metamask, Coinwallet, walletconnect etc.. but it
was unable to connect, is there a reason for this?
Are you sure you unlocked the wallet first? No other user
had this issue. Our wallet connections work fine.
Please ping us on Discord, so we can help you!
Could you also Help in Elaborating more on your fees
Management in the Aspect of Creating a Portfolio?
Once you create your portfolio a 1% fee is charged. If you
crate a portfolio with 100 USD, our smart contracts will charge 1 USD of fees.
Half will go to the initial owner of the portfolio you replicated, in case
you’re replicating a portfolio.
What does it cost in
creating a portfolio?
Our platform’s fees + transaction fees (depending on the
network you are using, Polygon is the cheapest, creating a portfolio will cost
you about 10 cents of transaction fees).
Can i have just a single portfolio for managing all my
tokens or I’d have to create separate Portfolio’s??
You can build as many portfolios as you want, if you want to
add assets that aren’t on the same chain, you will have to create separate
portfolios (at least one per chain).
Robocop | Satoshi Club
Do Nested Finance NFT tradeable ? where we can trade it and
will you have your own NFT marketplace ?
Rudy | Nested 🧩🇨🇭
All NestedNFTs have a intrisic value, it’s tradable on
OpenSea, Rarible etc
Nevertheless!
Robocop | Satoshi Club
Thank you for the detail answer! it has been an amazing time
in this first part of the AMA
Rudy | Nested 🧩🇨🇭
It is not aim at being sold or exchanged over the counter
Robocop | Satoshi Club
Now is time to proceed with the second part, the live
segment part 2, are you ready for the storm of question?
Gold Rocket | Satoshi Club
Thank you so much for this amazing first part of the AMA
Rudy | Nested 🧩🇨🇭
You’re welcome!
I have to go, but Thong will still be there!
Rudy | Nested 🧩🇨🇭
It was really funny to be there! I had a great time with the
Satoshi Club community!
Thank you Rudy, It was a pleasure to have you here!
Thong Tran
Thank you Rudy for your sharing!
Robocop | Satoshi Club
so @thongqtran, are you ready for the storm of question ?
Thong Tran
I am all in for the storm haha
Part 2 — live questions from the Telegram community
Q1 from Telegram user @NAZMP2
Could you please elaborate on your referral program? What will the prize be for the more invites?
Thong Tran
We are currently running our first Invite Contest in Discord and anyone can participate, please sure to follow our Twitter too. Our contest is only opening for 2 weeks and we will definitely have more exciting events for the community:
Are you feeling the impact of Yeild Farming which is currently booming in the Crypto scene.
Then what will you develop in this field? Is there a chance that you will collaborate with other projects or do you decide to stand alone to stay ahead of your competitors? Are you very sure to support the “Staking” program? If you do support the Staking program, How do you run projects in today’s market system space? Will you meet the needs of investors when they want to hold your tokens?
Do you have plans to burn and then buy back?
Thong Tran
This is a very interesting question, Yield Farming is an important part of DeFi and Nested will be taking full advantage of the ecosystems. After you create a basket of coins/tokens in one NestedNFT , you can change allocations, sell it, send it as a gift or to have it on Opensea or Rarible.
But the real DeFi advantage is when you can use that NestedNFT as a backer to borrow other assets on Aave, or staking the entire portoflio and earn staking or pool reward all of of your coins! Please see our roadmap to see more exciting developments!
Q3 from Telegram user @King_Raja
What is the benefit of creating Nested NFT ? and why should anyone create it? Thank you
Thong Tran
The NestedNFT is a financial NFT. Imagine if the certificate of ownership of your house was tokenized in the form of an NFT, then this NFT would also be a financial NFT as it is backed by your home.
Similarly, NestedNFT is backed by financial assets like tokens (BNB, BTCB, SAND, etc.) and has an intrinsic value compared to JPEG NFTs.
Nested portfolio is a NFT gathering many assets (up to twelve).
Rather than managing several tokens separately, the users only manage one and unique token, called an NestedNFT.
Q4 from Telegram user @sukuna_x_itadori
How can we create a portfolio on your platform? And what are the requirements or formalities required to create a portfolio? And do you guys also charge anything for this?
Thong Tran
If you have a Metamask either on mobile or desktop, and your Metamask already have at the least $5, you can already create a NestedNFT within 1-2 minutes!
We will pick randomly those who copy this Portfolio and airdrop you $50 USD of a basket of coins!!
Q5 from Telegram user @devil_1807
This type of platform needs strong security because of users privacy matter, so please share about your security and audits .
Thong Tran
Security is our priority! We conducted three private audits and two public audits. The public audits happened on https://code4rena.com/. There were more than 20 white hacks whose job was to find vulnerabilities. The last public contest happened two weeks ago.
Some of the hackers complimented us about the code. We also set up a timelock function; there are seven days between the time the team decided to push smart contract updates and the time those changes are live.
Of course, all our smart contracts are managed through a multi-sig to strengthen security.
Q6 from Telegram user @Tony253210
NestedFi focuses on user interface and user experience (UI/UX). How do you intend to enhance contact with new users as well as people from other industries? Is it primarily accomplished through user-centered product development?
Thong Tran
As you may know, every technology has been democratized through the UX. Apple wasn’t the first brand to build computers, but they were the first one to democratize them thanks to a user-friendly UX. Same thing for Google, or even Coinbase which was the first platform to propose a proper experience to buy and sell digital currencies. DeFi and web3 are complex topics, the UX should help people navigate through it and understand it.
Q7 from Telegram user @jirencrypto
What kind of orders can we program or configure in our Nested portfolios? Will we have Limit and Stop orders or only basic options?
Thong Tran
in the upcoming development, Nested will have the ability to not just include 12 coins in 1 basket NFT, but you will also able to include other Jpeg NFT and another NestedNFT inside 1 NestedNFT. This is what we call Matrioshky phase.
Not only this groundbreaking feature of Nested, you will experience first hand the stop order limit of NFT Trading
Q8 from Telegram user @deku_x_midoria
Do you guys have any Coin Burn / BuyBack plans Or Token Burn plans to increase the value of your Token and attract more users to invest on your project ?
Thong Tran
You know that for every creation of Portfolio or Copy, Nested will have 1% Fee. This fee isnot entirely for Nested but it will be for the community too.
With a part of the profit, either buy back the NST tokens on the market and lock the purchased tokens for one year (the DAO will decide) or distribute the profit to token stakers.
Q9 from Telegram user @cryptorocks_12
Would You Please Tell me What makes You different from TokenSets , I Mean Can I Know Some Competitive Advantage of Your platform , How Are you Superior ?
Thong Tran
Thank you for this questions, many of our users ask this very often thus we create a deep analysis of the differences. These are some points:
Cost: creating a portfolio is 10 times cheaper on Nested than deploying a set on TokenSets. Meanwhile, issuing an NFT is way cheaper than creating a whole “Set” smart contract.
By using NFTs instead of ERC-20, the possibilities to innovate in DeFi are endless.
Multichain: much diversity with more assets
Customizable finance: On Nested, every user is the owner of their strategy. Even after replicating a portfolio, users can still customize it. On TokenSet, after buying a set, users can’t add an asset they love or remove one they don’t. A user has to sell their set in its original form. Otherwise, users have to create a set from scratch, something most cannot afford. That’s why there are only 11 sets available on TokenSets.
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Oasis Protocol and our guest was . The AMA took place on the 30th of March
The AMA session was divided into 3 parts with a total crypto reward pool of $500
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Gold Rocket | Satoshi Club
Greetings, dear Satoshi Club community! We are pleased to
announce AMA with Oasis Protocol
Jon Poole
Hello everyone!
Robocop | Satoshi Club
Today our special guests are @coincidencejon and @Exkki
Welcome to Satoshi Club!
Gold Rocket | Satoshi Club
Nice to e-meet you
Gold Rocket | Satoshi Club
How are you doing today
Ekin ｜ Oasis Protocol
Foundation
Hello everyone! Excited to be here
Gold Rocket | Satoshi Club
Welcome to Satoshi club
Robocop | Satoshi Club
Welcome to Satoshi Club !
Gold Rocket | Satoshi Club
We are really excited about upcoming AMA with you guys
Gold Rocket | Satoshi Club
Let’s start
Gold Rocket | Satoshi Club
Introduce yourself please. How did you get to be involved in
crypto & Oasis Protocol
Lovely stickers btw
Jon Poole
We’re back! I’ve missed this amazing community and we’re so
appreciative you’ve welcomed us back a second time.
Jon Poole
Yes, let’s dig in and get started.
Thank you! Our Ambassadors are incredibly creative!
Gold Rocket | Satoshi Club
we also missed you very much
Jon Poole
We hold Satoshi Club
very high in regard.
Are we having a sticker fight? lolol we’re loaded with
stickers!
Jon Poole
haha in all seriousness though, I’ll introduce myself.
Gold Rocket | Satoshi Club
win-win
Gold Rocket | Satoshi Club
so.. Let’s start with the introduction to warm up.
Ekin ｜ Oasis Protocol
Foundation
Thanks @GoldRocket27
I’m Ekin, the Business Development Lead at Oasis Protocol
Foundation. Passionate about data privacy and individual freedoms so naturally
Oasis is a wonderful place to bring in partnerships and integrations to the
ecosystem what I’m working on mostly.
Been in the crypto space for about 9 years, working on data
privacy and confidentiality projects. Solving this is one of the largest
problems in the world population in my opinion in today’s data exploitative
internet economy.
Some of the coolest things I’m working on are the
accelerator programs. We have many really cool projects and brilliant minds
that are building on the Oasis Network and it’s such a pleasure to work with
them so closely
Really encourage any developers here to apply to the
DappRadar x Oasis accelerator program that is currently looking for projects
building on Oasis
9 years, That’s really great background and experience !
Gold Rocket | Satoshi Club
Don’t miss great opportunity Satoshi clubbers
Ekin ｜ Oasis Protocol
Foundation
Yeah it’s been a while now Oasis is by far the most talented and amazing
project I’ve come across!
Gold Rocket | Satoshi Club
Give us a brief introduction to the project. What is the
essence of Oasis
Ekin ｜ Oasis Protocol
Foundation
I think Jon is just finishing his intro before the question
Jon Poole
Thank you again, for hosting us. I’m Jon Poole,
Community Lead and Business Development for the Oasis Protocol Foundation. I’ve
been part of Oasis since the early days in 2018. I founded our community and
have had the pleasure of working along side an incredible star studded team
leading the Blockchain Industry in respects to Privacy!
My blockchain background comes from the private investor
side, like most of us I came here because I heard it was the wild west of
finance and I wanted to get involved. I was introduced to Oasis, and the rest
is history. When I understood what Dawn Song’s vision had in store for
blockchain, like so many of our team, I felt I had to be a part of it!
Gold Rocket | Satoshi Club
Sounds good
Robocop | Satoshi Club
by the way can you please introduce again what is Oasis
protocol to our new member ? what new update that you bring this time ?
Gold Rocket | Satoshi Club
How long does it take to develop a project? What plans do
you have for the future? And what can we expect from Oasis
Jon Poole
Yes, I’d be happy to introduce the project!
Gold Rocket | Satoshi Club
Tell us please about the benefits of Oasis. How is it
different from others?
Jon Poole
Oasis is the leading decentralized, privacy-enabled, and
scalable layer-1 blockchain network.
Combined with its high throughput, low gas fees, and secure
architecture, the Oasis Network can power scalable DeFi, revolutionizing Open
Finance and expanding it beyond traders and early adopters to a mass market.
We have a unique blockchain architecture where we split
consensus and computation. Our distributed consensus-computation layer
architecture allows for better horizontal scalability while retaining vertical
scalability across computational environments compared to our layer-1
competitors.
We provide a new landscape for applications to be built in
blockchain by enabling privacy and we are the leading privacy-focused
blockchain with some of the most reputable investors and supporters in the
industry, including A16z, Pantera Capital, Polychain, Binance Labs and have
Fortune 500 enterprise partnerships with Meta (formerly Facebook) and The BMW
Group just to name a few.
Gold Rocket | Satoshi Club
this is an incredibly promising direction
Robocop | Satoshi Club
Cool! Oasis Protocol have famous and big partnership
Gold Rocket | Satoshi Club
Also we would like to know more about your team. Who is on
the project team core?
Jon Poole
Some of our most recent updates would be ParaTimes to build
on! We have Parcel, Emerald (our EVM compatible ParaTime) and we have CIPHER
(our WASM ParaTime) which will be adding privacy to the blockchain industry in
a way never before enabled.
We also have a few points to highlight.
Oasis Bloom Hackathon
– Building the next generation of DApps for web3 &
beyond
AWARD POOL: $200K in ROSE in prizes
– Topic: DeFi 2.0 and P2E gaming
Fountain Protocol
– First cross-chain lending platform powered by Oasis
Network
– The protocol enables users to experience high capital
efficiency and one-stop management of DeFi assets
YuzuSwap
– First Decentralized Exchange (DEX) built on Emerald,
Oasis’ EVM Compatible ParaTime
– Swapping between ETH-based and Oasis-based tokens
GemKeeper
– The second successfully audited DEX to the Oasis Network
– The GemKeeper DEX supports standard AMM features that will
allow users to swap tokens, enter liquidity pools, and create new liquidity
pools in 100% permissionless manner.
Robocop | Satoshi Club
Thank you for the great intro ! Do you want to add anything
before we go to part 1 with 6 question from our community ?
Jon Poole
Oasis is a great network for building applications that
allow users to retain ownership of their own data, and to monetize it. Some
great areas for this are things like browser cookie data and ultimately even
banking and transactions data.
Tokenized data is currently used in the Parcel environment
by a number of startups and enterprise companies looking to benefit from the
ease of integration through the Parcel API. These companies include everything
from fortune 100 companies to mid stage startups. We’ve seen the most use cases
revolve around user and medical data protection.
We have a number of companies already developing such
solutions on Parcel API and many upcoming in Cipher paratime. For example,
Nebula genomics stores the DNA sequence data from their user’s saliva swaps,
mints a token that gives access to the owner. Using the data token the user can
then monetize their data.
We are also seeing a lot of interest in Cipher for privacy
oriented DeFi apps, like MEV resistant DEXes and lending platforms that
whitelist users based on real world identity.
Robocop | Satoshi Club
im also curious, how big are your team right now? its anon
team?
Ekin ｜ Oasis Protocol
Foundation
Thank you for the great question @GoldRocket27
So the development cycle is essentially the same as usual
for Dapps as Oasis Emerald is EVM compliant. It’s possible to write in Solidity
and use standard ecosystem tooling as dependencies for the Dapps.
Just as a ballpark we see Dapp development ranging from a
couple of weeks to 3 months. Forking applications and just redoing the UIUX is
usually something that takes a couple of weeks. More unique and complicated
projects take normally a few months, but we have seen some that take up to 6
months too.
We are currently focusing heavily on building the Defi 2.0 ecosystem and applications, and the NFT + P2E gaming ecosystem. As we speak there are a lot of teams deploying their applications to the Network via the acceleration and hackathon programs. Aside of the ones being developed its already possible to use some of the many DEXes and lending protocols, and to collect some amazing NFT sets
In the future you can definitely expect to see a lot more
P2E, NFT and Defi 2.0 projects. Also if you want to see some of the latest,
please have a look at Rosart (https://rosart.io/), the first community built
and accelerator supported NFT marketplace in the Oasis Network
Jon Poole
It’s truly amazing and it’s not just advancing computer
science or Blockchain, it’s moving forward humanity in the direction of an open
and fair data economy. I recommend you
check out our documentation to learn more! You can find everything on our
website https://oasisprotocol.org/
Gold Rocket | Satoshi Club
you guys are ambitious
Gold Rocket | Satoshi Club
It’s still for the geeks, but will eventually become mass
adoption.
Jon Poole
We are backed by some of the world most reputable and
successful investors. Which should be a point worth noting for those of you
looking to build on a platform with strong mentorship potential and accelerator
programs.
Our strongest advantage is our team. We have an awesome
group of people all pulling together in bringing the next 1 billion people to
the blockchain space. Tech-wise we are also very strong when it comes to
performance, development experience and support.
At the core of the Oasis Foundation is an international team
of experts hailing from across Europe, Asia and North America. The foundation’s
technical team is led by a Technical Advisory Committee, whose core
responsibility is to advise the Oasis Foundation and the ecosystem participants
on the technical aspects of the Oasis Network.
The Oasis Network Founder Professor Dr. Dawn Song is the
world foremost lead in differential privacy and the use of AI. She is a
Professor at UC Berkeley and she implemented her life’s worth of research into
pairing her breakthroughs with the use of TEE’s and the Oasis Networks Layer-1
Blockchain solution.
Perfect ! its like having a network complete all-in-one,
Oasis Protocol amazing !
Jon Poole
I’m certainly doxxed
You have no idea! We’re incredibly ambitious and goal
orientated and we know what we have with our product and ecosystem. It’s truly
one-of-a-kind
Ekin ｜ Oasis Protocol
Foundation
We’re definitely not anonymous Our team is backed by the world’s foremost
computer scientists as Jon just mentioned.
There is a about 70 people working at Oasis across Labs and Foundation now. We are also growing strongly, so I highly recommend to apply to our open positions (https://boards.greenhouse.io/oasisnetwork)
Robocop | Satoshi Club
Thank you for your answer
Gold Rocket | Satoshi Club
Thanks for great introduction, we will have several
questions selected for the Part 1. Ready to start?
Jon Poole
There’s something for everyone. You can dig in deep and
learn about the cutting edge computer science methods for privacy such as MPC,
Differential Privacy, Confidential Computation and the use of TEE’s.
You can also focus on the high level overview of what
data-tokenization means and what data monetization can mean to the everyday
person! It’s truly an impacting breakthrough that will one day matter to
everyone.
Jon Poole
Thank you
Jon Poole
Have I mentioned we solved governance by splitting consensus
and computation? A revolutionary breakthrough in how you design a block itself
on a Blockchain network? No big deal…
Robocop | Satoshi Club
That’s great
Jon Poole
Professor Dr. Dawn Song! The world foremost lead in AI and
differential privacy! She teaches at UC Berkeley where they’re offering the
worlds first Computer Science courses focuses on Privacy within Blockchain
taught by Dawn herself!
Jon Poole
Yes, we’re ready!
Ekin ｜ Oasis Protocol
Foundation
Thanks for all the questions @GoldRocket27 .Let’s goooo
Robocop | Satoshi Club
Q1 From Telegram User @thisistoyin
Following up on your latest developments,
Another amazing thing to talk about is the fact that you had
your first lending protocol powered by OASIS NETWORK, which was the Fountain
Protocol launch this month march 2022, can you please explain to us about the
Vision behind these Launch? What problems does this Protocol Solves? And how
would it serve to benefit users in your ecosystem? Although it was just
recently launched, but could you please Rate its Performance so far? What are
the Various ways to which users could earn in these new Launched Protocol?
Jon Poole
Fountain Protocol is the first cross-chain lending platform
powered by Oasis Network. This protocol enables users to experience high
capital efficiency. We can say that Fountain Protocol is a one-stop management
of DeFi assets. They made the security their highest priority, and the team is
laser-focused on building a protocol that is reliable and safe. Fountain
Protocol smart contracts were audited by PeckShield and Verilog. In addition to
this, there are various ways to earn through Fountain Protocol, such as the
Liquidity Mining Program for suppliers and borrowers when participating in the
Lending Pool on Oasis network. A total of 4,000,000,000 FTP (40% of total
supply) tokens over the span of 4 years will be allocated across asset markets
as liquidity incentives. Fountain Protocol will establish a multi-revenue
protocol with a fund pool as the core and multiple application scenarios,
including the following: expansion to other chains, leverage trading,
cross-chain lending.
You can read more about it here: Fountain Protocol. You can also participate in Fountain and earn
rewards here: https://ftp.cash/home
Gold Rocket | Satoshi Club
Thanks for your great answers
Robocop | Satoshi Club
Don’t miss this chance Satoshi Clubber ! you can get reward by participate at https://ftp.cash/home
Robocop | Satoshi Club
Thank you for the detail answer, do you want to add
something before we go to question 2?
Ekin ｜ Oasis Protocol
Foundation
I think its all good
Robocop | Satoshi Club
Q2 From Telegram User @NKUDM
I learnt that Oasis have it’s own swapping services called the YUZUSWAP built by community developers that allows users to participate in liquidity pools, swap, trade and earn rewards with high APY. Can you elaborate more on this Oasis swapping services(YUZUSWAP) What exciting features does it provide compare to other swapping services we know? Does it allow users to exchange crypto while retaining total ownership of the user? What is the minimum exchange fee your YUZUSWAP charges it’s users? How can we trade and earn APY using yuzuswap?
Ekin ｜ Oasis Protocol
Foundation
Thanks for the great question @Pratze
YuzuSwap (https://yuzu-swap.com/) is the first Decentralized Exchange (DEX) built on Emerald, Oasis’ EVM Compatible ParaTime.
YuzuSwap works to actively support price health by taking a
0.3% transaction fee on all transactions. 80% of this fee will go to a Smart
Contract, which will support and buffer large price fluctuations by buying YUZU
if the price falls below the 72-hour average. This helps maintain a healthy and
stable token price that benefits traders, investors, and liquidity providers.
The final 20% of transaction fees will go to a DAO
governance vault governed by YUZU token holders. Decisions around what the
vault is used for will be made through an on-chain voting system and could
include things like incentivization of developers, new community programs, or
co-investing in other Oasis Network projects.
The Oasis Network is very excited to support the YuzuSwap
Launch and finally, bring DeFi features to the community.
Taking advantage of the low gas fees, high throughput, and
instant finality of Emerald, it includes all the features of a DEX that the
DeFi community have come to expect:
-Swapping between ETH-based and Oasis-based tokens
-Liquidity pools and pairs
-Earning YUZU for providing liquidity to pools
-A voting system for governance of the funds collected with
20% of the transactions fees
Gold Rocket | Satoshi Club
How safe is this all? Have you performed any audits or
checks?
Robocop | Satoshi Club
So you also mention about GemKeeper DEX from Oasis Network,
is this feature already online, can you please give link to access Gemkeeper?
Jon Poole
GemKeeper DEX supports standard AMM features that will allow
users to swap tokens, enter liquidity pools, and create new liquidity pools in
100% permissionless manner. GemKeeper will also enable users to farm
GemKeeper’s governance token, BLING, by staking their GemKeeper Liquidity Pool
(GLP) tokens in the Gem Mine.
By incentivizing a wide range of bridged tokens, GemKeeper
enables the most popular crypto-assets across all of the top Layer 1
blockchains to come to Oasis and start earning yield. As more DeFi primitives
such as lending, yield aggregators and others come to the Emerald ecosystem,
this interoperability will become vital to the continued growth and success of
Oasis’ Emerald Paratime. Participate and start earning with Gemkeeper here:
Oasis Network utilizes two components, the Consensus Layer and the ParaTime Layer. We all know that every network and blockchain requires a consensus layer/mechanism for it to run, however, this will be the first time I’ll be hearing a network using a ParaTime Layer. Would you be please familiarize us with your ParaTime Layer? Can you discuss with us how it works and how it made Oasis Network run efficiently? What makes your ParaTime Layer unique and different from other network’s technology layers?
Jon Poole
I absolutely love talking about this as it’s truly something
to take note of.
The ParaTime Layer hosts many parallel runtimes (ParaTimes),
each representing a replicated compute environment with shared state.
Separation of consensus and execution allows multiple ParaTimes to process
transactions in parallel, meaning complex workloads processed on one ParaTime
won’t slow down faster, simpler transactions on another. The ParaTime Layer is
entirely decentralized, allowing anyone to develop and build their own
ParaTime. Each ParaTime can be developed in isolation to meet the needs of a
specific application, such as confidential compute, open or closed committees,
and more. The network’s sophisticated discrepancy detection makes Oasis more
efficient than sharding and parachains — requiring a smaller replication factor
for the same level of security.
Designed to support the next generation of blockchain
applications, the Oasis Network is incredibly versatile, agile, and
customizable. Namely, each ParaTime can be developed in isolation to meet the
needs of a specific application. ParaTimes committees can be made large or
small, open or closed, allowing for faster or more secure execution depending
on the requirements of a particular use case. Nodes can be required to have
specific hardware, such as Secure Enclaves in a confidential ParaTime. Each
ParaTime can similarly run different Runtime VMs (ParaTime Engines) such as EVM
backwards compatible engine, Rust based smart contract language, or a Data
tokenization engine. Finally to support enterprise and developer use cases,
ParaTimes can be made Permissioned or Permissionless — allowing consortiums to
have their own closed ParaTime, or communities to have full decentralized open
ParaTimes.
The versatility of the ParaTime Layer allows the Oasis
Network to expand and grow to address a broad set of new and exciting use
cases, while still maintaining the same core ledger and consensus layer.
Robocop | Satoshi Club
Oasis Protocol really unique & innovative ! im really
excited what new update that
you will bring in the near future, can you please share the
roadmap from Orion Protocol?
Jon Poole
Spell check! Add Oasis Protocol Foundation to your added
words
Ekin ｜ Oasis Protocol
Foundation
What’s this Orion protocol I’m hearing about?
Jon Poole
hehe that’s too funny
Robocop | Satoshi Club
ah sorry about that’
Gold Rocket | Satoshi Club
thanks a lot for the explanations
So… What about Oasis Protocol Foundation roadmap
Jon Poole
A picture is worth a thousand words
Robocop | Satoshi Club
Thank you for sharing this
Jon Poole
Thank you, for asking.
Gold Rocket | Satoshi Club
Great infographic
Thanks for sharing
Robocop | Satoshi Club
Are you ready to proceed to question number 4?
Jon Poole
Yes, let’s proceed
Robocop | Satoshi Club
Q4 from Telegram User @UniqueVicky
Oasis emerald aims to solve the typical issues of DeFi 1.0 by developing DeFi 2.0 and also aim to introduce GameFi and P2E gaming DApp into Oasis and as such are looking for capable, brightest and boldest developers to build DeFi 2.0 and P2E gaming DApp. As many developers are waiting for this opportunity, can you please tell us the requirements they must meet or possibly credentials needed to apply for this position? Where and how can interested ones apply? How may developers are you looking for at the moment? Is there any geographical restrictions to who may apply? Also tell us what typical issues of DeFi 1.0 will your DeFi 2.0 solve? Also tell us the kinds of P2E games you aim to introduce into Oasis and how players earn while playing these games?
Ekin ｜ Oasis Protocol
Foundation
Thanks for the question @Pratze
There are many ways for developers to build on Oasis
Network, and bring fourth the wave of DeFi 2.0
Our current hackathon, The Oasis Bloom Hackathon, will raise brand awareness of Oasis within the
developer community and yield some great dApps for our ecosystem. This
hackathon facilitates the next generation of DApps for web3 & beyond in
areas such as DeFi and P2E Gaming. It wouldn’t have been possible without the
support of our sponsors, Jump, NGC, Newman, Hashed and Dragonfly. The winning
teams will also have access to potential investments and mentorship
opportunities provided by the sponsors, especially for the winning teams. You
can learn more about it here: https://oasis.devpost.com/ . If you are interested in applying, you can do
so here: https://bit.ly/3MDr3h3
Another great opportunity for developers is the $500,000 DappRadar x Oasis Accelerator. The program’s mission is to find ambitious teams and support them in building on the Oasis Network. Key areas of interest are DeFi, P2E gaming, and privacy solutions. During the program, the teams will be offered support to ensure successful integration, community engagement, and fundraising. The 10 selected teams will get a grant of up to $50K in ROSE each. Learn more about it here: https://oasisprotocol.org/accelerators.
We also have a grants program. The ROSE Bloom Grants Program
will help you kickstart the development of your projects in a range of key
focus areas and support DeFi, NFT, P2E Gaming, Metaverse, Data DAO, data
tokenization and privacy DApss. Each proposal is eligible to receive up to
$50,000 USD in ROSE tokens. Currently, the ROSE Bloom Grants program offers
grants for the following development environments: Oasis Emerald, the EVM
Compatible ParaTime and Oasis Labs’
Parcel SDK. Find out more about it here:
https://oasisprotocol.org/grant-programs.
As for games on DeFi, gambling will be for sure something
people put their attention towards… Imagine every time you went to the Casino,
every single bet you made was on a public ledger with no privacy. What’s the
solution right now without privacy? Centralized gambling is the solution and we
all know what’s been happening with Centralized entities, they always have a
“hack”. Oasis provides the solution with privacy and decentralization, we can
have the world’s first privacy preserving, fully decentralized Casino. Does
anyone remember the Full Tilt Poker cheating scandal where an employee built a
back door and could see the whole table’s cards in real time? I’ve always
wanted to build No-Limit Texas Holdem Poker on Oasis.
The DeFi system is going to get an overhaul when we unleash
privacy on it, plain and simple. How can you take advantage of DeFi when you
have no privacy. You’re not going to apply for a mortgage or even collateralize
an asset if there’s no privacy (your address is on it). Further to this, you’re
never going to get regulation from a Government if you can’t provide auditable
systems, again, where running data queries on privacy preserving data comes in!
Robocop | Satoshi Club
I love casino i hope
that Oasis Network will have Casino game project sometime in the future
Gold Rocket | Satoshi Club
incredible opportunities
Jon Poole
Gambling is something I’m definitely going to ensure happens
on our network.
Robocop | Satoshi Club
Thank you for the great answer, are you ready for the next
question?
Ekin ｜ Oasis Protocol
Foundation
Let’s goooooo
Jon Poole
Ready!
Robocop | Satoshi Club
Q5 from Telegram User @Billz120
Oasis Foundation I understand supports two (2) forst-party non-custodial wallets,a web wallet named Oasis Wallet-Web and a browser extension Wallet named Oasis Wallet- Browser Extension and both I learnt seamlessly connect to the Oasis Network and makes it easy to hold, send, and receive ROSE Tokens. Could you please tell us the distinction between the Oasis Wallet-Web- and Oasis Wallet-Brower Extension? Could you please explain to us the NEXUS, relationship between ROSE And Oasis Foundation?
Jon Poole
We have two officially supported Oasis wallets:
Oasis Wallet – Web can be found at https://wallet.oasisprotocol.org.
Oasis Wallet – Browser Extension is a Chrome browser
extension that implements a wallet for the Oasis network. Only the extension
can interact with DApps
Oasis Foundation maintains a reference implementation of the
software used in the network that manages the rose token.
The $ROSE name selection was actually thought in detail.
A large part of the inspiration behind our name comes from
what an Oasis represents. We are the Oasis of privacy in the privacy desert
that’s the current web. You could also take some James Halliday references to
Ready Player One with the metaverse they build and live in being called the
“Oasis”, but that’s more of a coincidence and might come up later on during
some puzzle campaigns I’m working on.
What’s even more exciting, is the $ROSE name selection which
was actually thought out in incredible detail.
ROSE: A Symbol of Privacy
We wanted the token to stand as a representation for the
network and Roses fit very well with this imagery. Historically they have often
represented “secrecy”. Dating back to Ancient Greece, the Rose was seen as a
symbol for secrets or privacy, used by Aphrodite as a gift in exchange for
keeping the secrets of Gods.
In Ancient Rome this symbolism continued and the phrase “sub
rosa” or “under the rose” was to mean “done in secret” or “under a pledge of
secrecy”. This phrase and the symbol of Roses as secrecy extended throughout
history with the British Tudors era where state secrets were decided in a room
with a large rose hanging from the ceiling.
This fits well with our vision for the Oasis Network, which
seeks to power the next generation of blockchain use cases through its unique
capacity to support confidential computing and private data on the ledger.
Thank you for the detail answer, so lets continue to last
question from part 1, are you ready ?
Jon Poole
We are ready!
Ekin ｜ Oasis Protocol
Foundation
Sounds great!
Robocop | Satoshi Club
Q6 from Telegram User @Cheriemike
The Oasis Network designed Cipher, the first-ever confidential ParaTime with support for confidential smart contracts. In a confidential ParaTime, nodes are required to use a type of secure computing technology called a TEE “Trusted Execution Environment”and this TEEs act as a hypothetical black box for smart contract execution in a confidential ParaTime.So can you tell us why is a “Trusted Execution Environment”more trustworthy?So if the TEE boot or service signature checks fails,what will the node do in such case?Recognizing the fact that not all devices host the same “Trusted Execution Environment” ,can you specify which technology a nodes can use that can give them the overall architecture expected of a TEE and the standard to help them if they wish to remotely manage a TEE?Aside from TEE,what other computer technology can a node use?Please explain Thanks
Ekin ｜ Oasis Protocol
Foundation
Currently we only support Intel SGX as the TEE. The node
must provide valid Remote Attestation evidence in order to be able to
participate in the confidential ParaTime committee. If any checks fail, the
node is not able to participate.
TEE’s are quite a lengthy topic to explain so I would
recommend everyone here to check out The Index’ recent podcast where Jon
explains this in detail. It’s a great one!
Part 2 — live questions from the Telegram community
Q1 from Telegram user @meml97
It caught my attention that Oasis Protocol has this incredible initiative called “Oasis Fundation University Program”, where users can get training, become University Ambassadors and more things. Can you tell us more about this amazing University Program? What do people have to do if they want to be part of this Program? Most importantly, what kind of benefits will you offer to those students who are part of it? Will this Oasis Fundation University Program help them with important things such as paying some student loans? Will this University Program be available worldwide or just on a few countries and Universities?
Jon Poole
Oasis has the largest University Program in all of Blockchain and is connected with more Universities than any other project around the world. We believe in the future of our ecosystem and back it by promoting some of the largest and most rewarding Grants in Blockchain. We offer mentorship programs and our team will be affiliated with University of California, Berkeley’s upcoming Computer Science program offering first of it’s kind courses to it’s students. Proving not only are we inline with the future of Blockchain but that we are pioneers in it.
The benefits include training options, such as educational sessions with all those in your group interested in emerging technologies such as secure computing, decentralized networks, and machine learning as well as speaking engagements or webinars for those interested in running a node at your institution, access to hackathons, as well as the opportunity to contribute to the network and get rewarded for it through the ambassador program.
We have an amazing ambassador program and a wonderful ambassador team. If you’d like to get involved and help us grow our ecosystem in any number of ways, please, check it out!
Looking at the “delegation & staking feature”, I understand that I can delegate my $ROSE tokens to a network Validator and start earning a slice of the Validator’s staking rewards. Here comes my question; What is the minimum and maximum number of rose tokens that can be delegated?. You mentioned that there are 110 active validators. So I am eager to know; what factors should I consider in deciding which Validator I should delegate my tokens to?. How can I get information about each of the network Validator?..What is the percentage of staking rewards that a user gets? Furthermore, talking about the ” Validators”; Will the consensus voting power of a validator be proportional to it’s stake?
Ekin ｜ Oasis Protocol Foundation
100 $ROSE is the minimum required to stake. The network is targeted to reward stakers with rewards of between 2.0% to 20.0% depending on the length of time staked to provide staking services on the network. In order to be eligible for staking rewards per epoch, a node would need to sign at least 75% of blocks in that epoch.
The current voting power mechanism is stake-weighted. This means that the consensus voting power of a validator is proportional to its stake. In this model, the network will require signatures by validators representing +2/3 of the total stake of the committee to sign a block. Note that in Tendermint, a validator’s opportunities to propose a block in the round-robin block proposer order are also proportional to its voting power.
Q3 from Telegram user @surendra040
Oasis Bloom Hackathon is of 200000$ prize pools. How did you raise the funds with such a large reward? what expectation do you have from this hackathon and what are the criteria to participate on it and we can grab more reward ??
Jon Poole
We have incredible sponsors who were willing to not only supply an industry leading $50,000 for our top Prizes equaling a total of $200,000, but, they’re also mentoring our winners to ensure the success of DApps built in our ecosystem (Jump, NGC, Newman, Hashed, Dragonfly)!
We’ve set realistic expectations and have focused on DeFi 2.0 and P2E gaming. We’re hoping to raise brand awareness for Oasis within the developer community, Grow the Oasis DApp ecosystem and Increase TVL.
OASIS FOUNDATION and METAMIND has Colloborated To provide an ACCLERATOR PROGRAM, Will You Please Tell me More About This Program and What Makes it better From Other Accelerator Program ?
Ekin ｜ Oasis Protocol Foundation
The Metaminds x Oasis Accelerator (https://oasisaccelerate.com/) program is one of the most comprehensive and exciting initiatives in the Oasis Network. The projects accepted to the program get a grant of $20k and have the opportunity to participate in a loosely structured program consisting of workshops and mentoring by some of the leading industry experts.
The teams in the cohort get direct access to our team and to our partners allowing them to access resources that only a few other projects have. This direct communication with the Oasis Foundation and our key partners is definitely one of the factors that makes the program stand out from any other accelerator program out there.
The other thing is the structured program that covers topics from technical development workshops, legal and marketing to business development gives the teams a real edge when they are building their actual business and technology aside from just the first minimum viable product. Serious and dedicated teams find this approach extremely helpful in our experience.
Finally, to highlight the investment opportunity that the accelerator program presents. In the demo day the projects get to present directly to our ecosystem fund and partners. Successfully closing the seed round is once in a lifetime opportunity and a real chance to stand out from other projects.
The applications to the Metaminds accelerator are already closed, but we have a similar structure in the Dappradar accelerator. We highly encourage any developers to apply and make your dream a true!
Do you have oasis# Whitepaper if yes, please share it with as secondly do you have plans for pre-sale? Now where can we Join it?
Jon Poole
We are well past any type of sale, we are live on mainnet since Nov 18, 2020 which you can see on coinmarketcap.com, however, I can’t resist a good whitepaper pump.
You’re going to have an amazing time reading ours, we have the worlds foremost lead on Privacy within Data, AI and differential Privacy, our Founder Professor Dr. Dawn Song.
Really the feature that matters most to Oasis Network is having great privacy? If so, could you tell us why you give so much importance to these features, when the vast majority of DeFi networks are completely transparent and against privacy?
Jon Poole
DeFi and privacy can co-exist and makes for a powerful ecosystem. For example, there are aspects of DeFi such as decentralized KYC, computing credit scores for lending, risk scores using highly sensitive personal data, for which privacy is key. Combining privacy-preserving technologies with the openness of DeFi ecosystems unlocks the full potential of DeFi.
Oasis was built for privacy from the ground up. The separation of consensus from execution and the ability to run either confidential (like our Cipher ParaTime) or non-confidential ParaTimes (like our Emerald Ethereum compatible ParaTime) is exceedingly powerful as we can bridge from confidential ParaTimes, that tackle aspects around privacy in DeFi, with the open aspects of DeFi on the Ethereum network. The verification step that interfaces runtimes with consensus ensures that the computing even in confidential runtimes can be verified before committing to consensus.
Q7 from Telegram user @JaviSuBs
The protocols and the cryptographic ecosystem suffer attacks by hackers every year who find vulnerable contracts and with security flaws? Can you explain how you handle security in Oasis Protocol? How secure will our data and assets be on your platform and how do you manage the security of your smart contract? is audited and certified, which team certified it? If you are audited, can you share with the community the audit documents and the official address of the contract so as not to fall for scams?
Jon Poole
To start, let’s first explore the overall architecture to highlight how confidentiality is being protected in the Oasis network architecture. On a high level, the Oasis network introduces a notion of ParaTimes which are their own blockchains sharing security with the consensus layer. The consensus layer itself is not confidential and does not support user-uploadable smart contracts. Its core function is to manage everything that is needed to support ParaTimes.
Each ParaTime can implement its own logic (e.g., can define how transactions look like, what is stored in storage, etc.), but we provide a common SDK that defines common formats and makes interoperability much easier. A ParaTime can support smart contracts (currently the SDK has modules for WASM and EVM smart contracts) and can be either non-confidential or confidential, when paired with a key management committee.
Getting confidentiality right is hard. Currently confidentiality guarantees are based on Intel SGX enclaves and remote attestation. Our architecture separates concerns by having separate minimal enclaves (the key management enclaves) in charge of the encryption keys and confidential ParaTime enclaves only query those key management enclaves when needed (secured through mutual remote attestation) to avoid keeping any keys for longer than needed.
Each confidential ParaTime built using our SDK runs in an Intel SGX enclave and communicates with the outside world (e.g. the Oasis Core node and the consensus layer) through a minimal protocol. The enclave will independently verify consensus (and by extension also ParaTime) state integrity by use of a light client and will then proceed to process transactions. Transactions may be end-to-end encrypted using an X25519-Deoxys-II-based scheme so only the ParaTime running inside an enclave can read them (the key manager enclave will only derive secrets when the ParaTime can pass mutual attestation). To ensure state integrity a Merkelized authenticated data structure is used where the enclave independently verifies storage proofs. State encryption uses Deoxys-II MRAE encryption scheme to ensure confidentiality.
The WASM-based smart contract module provides an ABI that enables developers to define what state should be kept confidential and what should be public. Of course writing confidential smart contracts is harder as one needs to be very mindful of various side channels. We may provide side-channel hardening mechanisms on top of encrypted storage (with various degrees of performance tradeoffs).
One thing to also note is that the Oasis network architecture is also built with extensibility in mind. In the future it can relatively easily support new trusted execution environments.
Q8 from Telegram user @kosku21
Regarding the Oasis ambassador program, can you explain to me what type of users this program is aimed at, the types of knowledge we must have and about the rewards, is there a DAO-style page for these tasks?
Jon Poole
We do have a global team of ambassadors who I’ve worked with personally for the past two+ years, which has grown to over 500+ members including our China team, making local outreach easier than ever. We recently broke the 500 global ambassador milestone with many of our members in regions poised to explode with community support. We are highly underrated when it comes to our global presence and we are looking to change this in the upcoming quarters in a dramatic way.
Our approach is that we attract high quality Ambassadors from communities just like this one. We grow and empower our Ambassadors to use the skills they have from their existing careers and interests. We have community content generation bounties, community engagement bounties, marketing bounties, BD bounties, and soon to launch our Ecosystem Ambassador Bounty Program.
Our Ambassador program is an onramp into the industry and we’ve proudly helped many of our Ambassadors secure jobs within the industry!
You said that your “distributed consensus-computation layer architecture allows for better HORIZONTAL SCALABILITY while retaining VERTICAL SCALABILITY”. Can you explain in less technical term what horizontal and vertical scalability involves? How does it make OASIS blockchain a destination of choice when it comes to privacy-oriented blockchain services?
Ekin ｜ Oasis Protocol Foundation
Let’s deep dive into how the Oasis Network is able to compute transactions in parallel. By checking if transactions conflict with each other, the Oasis network is able to group transactions into batches in such a way that changing the compute order of said batches won’t change the outcome. This allows each batch to be processed in parallel across multiple compute committees while preserving transactional semantics.
Oasis has come up with a new approach to scalability. Pending transactions are grouped and dispatched for execution to different groups of compute nodes. By having multiple groups of compute nodes executing different groups of transactions in parallel, horizontal scaling is achieved.
Regarding vertical scaling, our transaction throughput is high per paratime, approximately 1000 tx/s which is the result of our new and improved block and message propagation architectures, in addition to a short 6s block time. Practically, this means that even the most demanding applications will have all the bandwidth to process their transactions in each of the paratimes.
So just to summarize, horizontally we can have a number of different computational environments (which you can just think of as blockchains) running simultaneously, while each blockchain having a large throughput. Thus achieving horizontal and vertical scalability
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
For more information and future AMAs, join our Social Media channels:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. The Tiger Clan Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about The Tiger Clan
For more details: The Tiger Clan Website – thetigerclan.com The Tiger Clan Discord – @TheTigerClan Satoshi Club – @satoshi_club Russian – @satoshi_club_ru Spanish – @satoshi_club_spanish
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Libcoin and our guest was . The AMA took place on the 29th of March
The AMA session was divided into 3 parts with a total crypto reward pool of $500
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Mary | Satoshi Club
Hello Satoshi Club!
We are happy to announce our AMA session with Libcoin! Welcome to Satoshi Club
Jonah 🏅🎹
| Satoshi Club
Let’s welcome our guests @shuaigerr and @richieryan
Hello welcome to Satoshi club
Richard Ryan
Hello Everyone
Am Richard from Libcoin
Mary | Satoshi Club
Hello, Richard! Welcome to Satoshi Club
How are you today?
Richard Ryan
@shuaigerr will join us in a couple of Minutes
Am doing great and am glad to be here today
Jonah 🏅🎹
| Satoshi Club
We are Glad to have you here and looking forward to
@shuaigerr joining us as well
Mary | Satoshi Club
We are excited as well
and let’s start
Richard, could you please introduce yourself and tell us
more about Libcoin?
Richard Ryan
Vincent the the
project manager / COO at Libcoin.
I am Libcoins community Manager and I have been in the
blockchain space for 3 years now
Richard Ryan
Libcoin is supercharging crypto by plugging in the first
tokenized gigafactory. The coin democratizes access to a new class of investors
to participate in top-tier green energy investments.
Mary | Satoshi Club
Important position!
When did you start to develop your project? How young is it?
Richard Ryan
The Libcoin is a governance and reward token backed by a
portfolio of investments into world-class battery technology.
The mission of the Libcoin team is to both accelerate the
transition into clean energy while democratizing the community and financial
opportunity through a novel crypto asset.
Jonah 🏅🎹
| Satoshi Club
Impressive
Mary | Satoshi Club
Could you tell us about people who are working on the
project as well? How big is Libcoin team?
Richard Ryan
we have a senior team of energy and finance executives who
have fallen down the crypto rabbit hole
Jonah 🏅🎹
| Satoshi Club
Are they anonymous?
Richard Ryan
The Libcoin team is composed of high-level executives with
significant experience in the investment and manufacturing industry. It
includes members of the Duggal Family Trust (DFT), a private investment trust
that manages a wide range of investments, including battery storage
manufacturing.
Mary | Satoshi Club
Wow! You have really professional team!
Richard Ryan
DFT is partnered with Melbourne-based Avass. Avass brings to
the table their experience as world-leading lithium-ion battery producers and
EV manufacturers.
Richard Ryan
Our team are doxed
Jonah 🏅🎹
| Satoshi Club
Awesome
Mary | Satoshi Club
We will check for sure!
Richard Ryan
Check out their website, they hold the Guinness world record
for EV bus with the longest range so you know they’re first-class
Another one to call out is the Duggal Family Trust.
The DFT Group is a big group of Companies and is active in
Australia, Singapore, India, New Zealand, China and Indonesia but with
activities all over the world in other countries such as Hong Kong, Macau,
Mauritius, Peru, Turkey, Nigeria, Russia, South Africa, the UK and the US.
Mary | Satoshi Club
And thank you for your intro! It was great! We choose 6
questions for the first part of our AMA! Are you ready for them?
You can see the plans have been 2 years in the making so
it’s super exciting to finally have this project gearing up for launch.
This project will be funded easily by eager institutional
and corporate investors. In fact, 75% has already been funded. Work will start
in 2022 to actually build the factory. But part of the mission of Libcoin is to
use new innovative methods of financing that will allow Indian and world
citizens to be a direct stakeholders in the green energy transition.
Richard Ryan
before we proceed
Sorry was having some tech difficulties. But i manage to
upload a high lever version of the next few quarters.
The key milestones will be the token launch jointly with a
big media campaign. We want to do an exchange listing in Q1! We have already
sold $2+m in private sales those are ongoing. more details on the token launch
in the deck and white paper.
Richard Ryan
In phase 1 there will be a governance and reward component.
We will not be fully decentralized but our goal is to become more and more
decentralized over time.
This will mean that Libcoin holders who stake will get extra
benefits that include voting on the future of libcoin.. and even rewards from
our partners. They will be good as we have an amazing partner network, and as
said early movers will be rewarded!
Holding Libcoin means you own part of the Gigafactory and
the Libcoin ecosystem. As they represent real-world assets there will be a
return that is returned to Libcoin holders through a token burn.
Any future fundraising for additional projects will only be
done through a governance procedure.
Mary | Satoshi Club
Wow! Holders will be rich i can suppose
Richard Ryan
This is one strategy to keep Libcoin holders engaged, you
decide how the ecosystem is powered and plans future projects.
Imagine each Libcoin holder getting MORE libcoin for a new
raise (just by staking) — it’s all possible. And Libcoin has an ambitious
pipeline to meet the demands for renewable energy in the next 10 years… so this
Giga factory is likely only the beginning.
Mary | Satoshi Club
Richard Ryan:
our president is George Gregor, who used to be VP at a major
investment bank – but now is leading Libcoin. read more about him here.
@madamlobster Vincent
is currently travelling and having connection problem but he is in the group
now seeing the answers
Jonah 🏅🎹
| Satoshi Club
Awesome, Thank you for the introduction
Mary | Satoshi Club
Np, he can join when he will be available
Mary | Satoshi Club
Richard Ryan:
We have a long list of partners, please check out our
website! libcoin.net
But let’s call out a few.
Our battery technology partner is Avass
https://www.avass.com.au/
it’s an Australian company and they’re committed to
establishing world-class, mass manufacturing facilities with aims to be one of
the most powerful and respected Electric Vehicle Brands across the globe.
Avass has already proven its technology on the ground:
commercial buses are already running with more than 800km range on a single
charge and the car prototype R800 is already produced with a ground-breaking
technology of producing 1160km within a single charge.
Richard Ryan
Hi there @shuaigerr
Jonah 🏅🎹
| Satoshi Club
While we anticipate his settling down to join us, can we
proceed to community questions?
Richard Ryan
Before we proceed
So @shuaigerr has been busy attending conferences to promote Libcoin that is why he is with us right now watching the AMA. But for sure guys, we would love to see you on our telegram community https://t.me/libcoin_official
You know, it’s tough when you’re travelling to get a stable
connection!
Yeah it is.
Richard Ryan
@Jonahapagu I can’t seem to be able to paste links here
Gigafactory Nevada owned by Tesla and Panasonic is still only about 30% of the planned overall size and it recently produced it’s one millionth battery pack. They use the Lithium Ion packages. You aim to start a Gigafactory of Lithium-Ion batteries built in a consortium with relevant partners. Do you think your project can compete and replace Tesla’s batteries in the future? What are the unique features you plan to integrate to make this project the best? Would you consider partnering with other big battery companies in the future? Can you tell us more about your relevant partners?
You can try posting links now
Richard Ryan
The IEO will will start with a 24 hour ‘Launchpad’ period
10:00 AM EST 4/07/2022 where a group of privileged accounts will have the
opportunity to buy a limited amount of LIB at a discounted USDT rate
Richard Ryan
Yes and our team are industry veterans and our partners know
how to do this
We have a list of our official partnerships on our website
libcoin.net
Mary | Satoshi Club
That’s awesome! Lucky guys
Richard Ryan
Really lucky
Avass is official, we use several auditors (we also have worked with Deloitte for instance), but we are committed to using a top-tier auditing firm for this size of project. We will use the technology from our partner Avass https://www.avass.com.au/ They’re one of the most advanced battery manufacturers in the world they are our battery technology partner.
Competitor wise, we are not worried because this market is
moving so fast and Tesla has not entered India yet. We are building India’s
FIRST giga factory and this was heavily needed considering India’s ambitious
target to make the industry fully electric by 2030.
Remember over a billion people live there and they all want
cars! Tesla will not be the only player who can meet that demand.
Ready for Question 2
Jonah 🏅🎹
| Satoshi Club
This is true, you have a great competitive advantage in
India
Here comes the second question
Q2 from Telegram user @Cheriemike
I read that the green $LIB tokens will be accessed through Ethereum Blockchain technology and will later be converted to Ethereum w 0 in 2022.So can you tell us why it is decided that the $LIB tokens will be accessed through the Ethereum Blockchain considering the fact that the Ethereum gas fee is something that pissed off most investors?Will you later consider that the $LIB tokens be access through other Blockchains existing like a kind of cross-chain bridge?You also plan on adding an Initial Dex Offering (IDO) over Ethereum,so when will this plan be actualized?Please tell us the % cost of transaction fee with $LIB token.Thanks
Jonah 🏅🎹
| Satoshi Club
Vincent is typing
Vincent | Libcoin
Hey guys sorry I’m here to support! Sorry was attending a
conference to support libcoin
Richard Ryan
Thanks and we are early to the market
Mary | Satoshi Club
Welcome here
Jonah 🏅🎹
| Satoshi Club
Welcome to Satoshi Club
Vincent | Libcoin
If you’re at ethdubai or Binance blockchain week send me a
message and we can chat f2f
Mary | Satoshi Club
But may be you were thinking about some L2 solutions?
Richard Ryan
Hi Vincent! Yes definitely! Vincent has been working so hard
to support and promote Libcoin all over the world!
Vincent | Libcoin
Sorry Richard I stole your thunder
Sure we are but we are a HOdL token because elf the nature
of our investment so even thought he gas is high we don’t expect too much day
trading. Hodl!
Richard Ryan
it’s alright Vincent, Welcome to Satoshi club
Mary | Satoshi Club
Gotcha
Richard Ryan
I’ll let Vincent continue the discussion with the community!
Mary | Satoshi Club
Thank you for your answers, guys! Ready to proceed?
Richard Ryan
It’s seems like Vincent’s connection is still a bit choppy
Let’s proceed to the next question
Jonah 🏅🎹
| Satoshi Club
Here comes it
Jonah 🏅🎹
| Satoshi Club
Q3 from Telegram user @MudaraSilva
As 25% of any profits from the battery business are converted into $LIB annually, your circulating supply will gradually increase. Then how do you generate scarcity to maintain the value of the coin? What is the reason to add your profits to the token supply? What type of benefits does the project get from this decision? If the battery business faces any losses, do you cover them by converting $LIB to the funds allocated for the business?
Richard Ryan
25% of net profits from the initial giga factory will be
used to buy and burn $LIB from the market.
This will be guaranteed by a top auditing firm like KPMG.
These factories will have cash flows for years and years to
come so $LIB will consistently rise in price and it gets increasingly scarce.
Its depreciatory
Richard Ryan
It will obviously take some time before it can make revenue
and profit that’s why $LIB is at such a discount today compared to the expected
future cash flows.
You need to hedge against the inflation, the risk of a
meteor hitting the earth, you name it haha but timelines should by between
12–24 months when it sees initial operations.
So once you buy it at a huge discount when we go live in
April 7 on Bitmart…
Richard Ryan
Next question
Mary | Satoshi Club
Sure! @Jonahapagu
Jonah 🏅🎹
| Satoshi Club
Q4 From Telegram User @Modrumz120
I interestingly read from your website that libcoin will be the first crypto asset that offers potential holders exposure to investments and rewards in the booming battery technology industry. How can a person who’s new to the crypto space become a holder of the $libcoin token and also what are the requirements needed for such individuals to be a user/member of the libcoin platform? Lastly, what are other rewards to be given to the holders of the $LIBCOIN token in the Libcoin platform? Thanks.
Richard Ryan
We will build a strong community and have a great team in
place to make this a reality. Start by joining our telegram. Then ensure you
participate in our whitelist sale (go to our website to find out how).
We will build out our governance function in 2022 so we will
create token gated channels and that’s where we will provide exclusive updates
and governance votes. The jury is still out on the tooling, perhaps discord or
snapshot and we want your input so please be part of our telegram.
Other rewards next to ROI of the asset and governance power
will be announced soon! We have many big partner announcements to disclose
soon. And each partner we always ask’what can you offer libcoin holders?’ Think
energy, but also mobility, trading and sports!
Richard Ryan
Next Question
Mary | Satoshi Club
What kind of proposals will your community will be able to
make?
Jonah 🏅🎹
| Satoshi Club
Go join Satoshiclubbers and don’t forget the whitelist as
well
Richard Ryan
it’s for the community to find out this 2022
don’t forget to join our tg ann and community
Mary | Satoshi Club
Thank you!
Mary | Satoshi Club
Let’s go to the next question
Jonah 🏅🎹
| Satoshi Club
Q5 from Telegram User @Rozielyna
I read from an article of yours that Libcoin is officially an asset on Ethereum product chain with a fixed supply of 500 million tokens, is set for a 2-stage rollout Which is the Buyback stage and the Remaining tokens are for the second stage comprising of three variables ( Staking, cashback and governance) can you please share more details on these two stages and their variables ? What are the benefits/ Incentives attached with this stages? What are your reward systems for staking $Libcoin token?
Richard Ryan
Stage 1 — Buyback
After an initial exchange offering, where up to 15% of
available tokens are offered on one or more crypto exchanges, Libcoin plans to
invest funds raised in a lithium-ion battery Gigafactory in India. If and when
the venture becomes profitable, 25% of profits are to be set aside for the
repurchase of LIB tokens, and then burned (shelved indefinitely ) ). The model
seeks to tie investment in the tokens directly to green investment as the
buyback and burn program works in a similar way to corporate share buyback
plans, which drive up price by removing supply from the market.
Stage 2 — Staking, cashback and governance
Remaining tokens are to be put aside for the second stage in
the rollout comprised of three variables.
The first variable, staking, allows for the provision of
additional tokens to stakeholders who enter an agreement not to sell their
original tokens for a specified period of time. Next, Libcoin plans to partner
with other sustainable businesses, such as EV manufacturers and sellers. Tokens
may be offered to their customers as an extra sales incentive, which in turn
creates an incentive for companies to partner up with Libcoin.
Finally, much like company shares with voting rights
attached, token holders will receive veto and discount rights on new projects.
Holders who participate in governance may possibly earn new tokens for their
efforts.
Richard Ryan
LIB token’s function is designed to create a positive
feedback loop making way for holders to actively and in a meaningful way
contribute to the development and success of green energy.
This is accomplished when they are active in polling events
and by taking part in decisions put to a vote. Good governance leads to more
sales, leading to more profits, leading to the burning of tokens, leading to
the decrease in supply and consequently the more value represented by remaining
tokens.
Richard Ryan
The allocation of ongoing rewards continually feeds this
process. Developers expect that over time that rewarding active investors,
token owners that are most active will end up accumulating the greatest share
of tokens in comparison with inactive holders.
How cool is that?
Mary | Satoshi Club
Where users will be able to stake their tokens? On exchanges
or directly on your website?
Mary | Satoshi Club
It’s really cool
Richard Ryan
Next question
Jonah 🏅🎹
| Satoshi Club
by the way with regards to this for how long will users be
required to not sell?
Here come the last question for this part
Q6 from Telegram User @Ritshimwa
I saw little information on Libcoin Foundation. Can you explain more on the LIbcoin Foundation? What are the roles and function of this foundations? Can individuals register to become part of the Libcoin foundation? Can you share on some of the benefits users who belong to Libcoin foundation receive? You also mentioned customers receive LIB token when buyin from partners, can an individual become a partner to Libcoin? What are some of the rewards for Libcoin partners?
Vincent | Libcoin
We are discussing with some CEXs and defi protocols to allow
staking. Please join our community and provide input on what is best for you.
We want lib to be a long term hold so absolutely considering a staking solution
Vincent | Libcoin
(Apologies for the late reply)
Jonah 🏅🎹
| Satoshi Club
No p
Richard Ryan
This is a good question! Those who acquire Libcoin will contribute funds to Libcoin. The Libcoin foundation will earmarked $15m in 2022 to invest into projects being created by partners such as a battery giga factory. Libcoin will be entitled to 25% of these project profits and they will use these to burn LIB token.
Richard Ryan
This results in a depreciatory pressure on the token
increasing the price over time. That incentivizes the community, you guys, to
buy early and that will help Libcoin partners kick off the projects. Win-Win.
In phase 2, we will introduce a rewards ecosystem with our
partners. More details will be revealed in 2022. For instance, token holders
can stake and will be empowered by giving them voting decisions to mint new
tokens. Those being active in polls and governance decisions will be rewarded.
Key thing to remember though is that potentially millions
will be used to burn $LIB every year. So buy early before the price is too high
like other green depreciatory tokens like KLIMADAO which is already in the
thousands.
Richard Ryan
Let’s Proceed
Mary | Satoshi Club
Thank you, guys!
We came close to the live part now!
Mary | Satoshi Club
Ready to start?
Richard Ryan
Yeah
Mary | Satoshi Club
Let’s go
Part 2 — live questions from the Telegram community
Q1 from Telegram user @Karoceh
You mentioned Libcoin have already sold $2+m in private sales, which is excellent. But have you anticipated the possibility of a massive sale after the public sale? What is your plan to encourage $LIB buyers to keep their $LIB?
Vincent | Libcoin
We will build staking incentives and the price will appreciate with increased roi so buy early
Q2 from Telegram user @coinerman
Smart Contracts’ security is considered one of the biggest issues for every project. Can we be sure that your smart contract is completely secure? How do you ensure that user funds are protected so that users/investors feel 100% safe?
Vincent | Libcoin
We are audited by certik the best audit company
Q3 from Telegram user @NAZMP2
What are the benefits of long-term holding of the $LIB token?
Vincent | Libcoin
Increased ROI!! Profits are returned every year and they will increase
Q4 from Telegram user @uncrowned_king_007
Have you guys thought of launching your own app? Or do you already have an app?
Vincent | Libcoin
Not yet great idea an you suggest it in the community?
Q5 from Telegram user @BrayantGonzalez
Could you really explain to us what is the ultimate goal of Libcoin? Is it simply to create multiple Gigafactorys of lithium ion batteries in order to promote the consumption of first-class green energy and thus protect our environment much more?
Vincent | Libcoin
To support government renewable energy goals. Like Indias ambitious 2030 ambition
Q6 from Telegram user @Sitaw25
How does a newcomer to cryptocurrency be a libcoin token holder? Furthermore, what are the qualifications for such people to be libcoin users or members?
Vincent | Libcoin
Make an account on bitmart and participate in our whitelist event
Q7 from Telegram user @duvtdtiuu
Is your project is only for elite investors, how about others with small funds, is it open to everyone?
Vincent | Libcoin
The whole point of libcoin is to democratize investments previously reserved for institutional big shots
Q8 from Telegram user @KASG95
You point out that Libcoin will be Backed by battery technology, but could you really detail what you mean by this “battery technology”? Will it be different from blockchain technology? And what benefits does it offer?
Vincent | Libcoin
Real world assets. Real world investments back libcoins price
Q9 from Telegram user আজ হলো পবিত্র শবে বরাতের রাত
Do you have a whitepaper? If yes, please share it with us.
Secondly, Do you have plans for pre-sale? Now where can I join it???
