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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 enVoyDeFi and our guest was . The AMA took place on the 3rd 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
Jonah 🏅🎹
| Satoshi Club
Hello Dear Satoshiclubbers Welcome to our AMA with enVoyDefi
Hi everyone, and thank you for hosting here today!
Robocop | Satoshi Club
Welcome to Satoshi Club
Chris Gorman
Hey everyone
Jonah 🏅🎹
| Satoshi Club
We are glad to have you all here today
Jonah 🏅🎹
| Satoshi Club
How are you doing?
Robocop | Satoshi Club
Hello guys ! glad to have you all here
Chris Gorman
Can i first join the Satoshi Club in honoring the brave
Ukranian people
Cedric Antonio 🔺
We are looking forward answering all the questions you guys
have for us
Robocop | Satoshi Club
by the way, do all of your partner already here ?
Andrew
Hi everybody!
Jonah 🏅🎹
| Satoshi Club
🇺🇦🇺🇦
Jonah 🏅🎹
| Satoshi Club
Let’s start our AMA
Cedric Antonio 🔺
everyone is here, we can start
thank you!
Robocop | Satoshi Club
ok, lets start our AMA
Jonah 🏅🎹
| Satoshi Club
So can you please introduce yourselves to us how you got
into crypto and your involvement with enVoyDefi?
Cedric Antonio
My name is Cedric, CMO and I joined the project to follow
the vision of the existing team, that is Democratising Supply chain and Trade
finance.
Chris Gorman
Hi all, I am an Adviser (very active) to the team. I was on
the board of electroneum for 3 years (during its good period) I have an OBE
from the Queen and a professorship in Entrepreneurship
I am very focussed on Social Entrepreneurship and
passionately believe enVoy Defi will be part of the solution to many global
challenges
Andrew
Hi, I’m Andrew – CFO. I began in crypto back in around 2015 when I first heard about Bitcoin. However, I was skeptical at first so wanted to do my research. After a few years, I was finally convinced and bought my first bitcoin in 2017. Since then I’ve been heavily involved in the space through my crypto consulting firm where my team and I bridged the gap between traditional finance and crypto startups. This brought me to eventually meet Lee (our CEO) and begin working on this amazing enVoy project!
Jonah 🏅🎹
| Satoshi Club
Great Background Guys
Jonah 🏅🎹
| Satoshi Club
Can you now tell us what enVoyDefi Is all about?
Cedric Antonio 🔺
In a nutshell, enVoy DeFi is a platform where people can
invest in the financing of international trade in goods and commodities,
instantly and securely.
By enabling real-time, peer to peer payments to accelerate
the supply chain.
Lee tarone
Hey. I’m lee. CEO of envoy defi, ex head trader of Fx at
Harlow butler Ueda and prebon tullets. And major investor of hedge funds via
Bloomberg and sustainable projects with various NGOs
Jonah 🏅🎹
| Satoshi Club
Hello Lee welcome to Satoshi club
How many team members do you currently have working on this
project?
Lee tarone
Here at envoy we aim to support a new era of trade finance
digitising and a great reset in sustainable financing only for a better
tomorrow.
Lee tarone
Democratising this to the people where once was only
available to banks. Thanks blockchain tech.
Gold Rocket | Satoshi Club
@arzutoren
@dianakine00 welcome to Satoshi club
Chris Gorman
Trade Finance Gap (TFG) in traded goods is approx $1.7
trillion, this is the situation where you have a buyer and seller wanting to do
business together. This is $4.6BN of orders everyday unfulfilled as it is too
complex for the major banks. Blockchain resolves this and enVoy Defi deliver
it. Just 1% of TFG is almost $50m per day. enVoy is perfectly positioned.
Lee tarone
Tel time payment is huge for supply chain. Imaging real
payments that’s normally take days or weeks for banks at millions of dollars
and how this speeds up trade especially after covid.
Democratising finance and payments is a game changer
Diana Kine
Hi everyone, I am truly excited to meet you all here!
My name is Diana, and I am managing daily tasks related to
design and branding on Envoy’s team side. I am displaying passion of our team
trough project management and branding design you see out there. Hope you enjoy
this brand experience and will follow for more
Robocop | Satoshi Club
Thank you for the great intro, enVoyDeFi really great and
innovative
Lee tarone
Let’s help the world better, sustainable and move faster
offering finance to only low carbon vessels and suppliers.
Andrew
Our team members and advisors have decades of relevant
experience in each of their respective fields (logistics, shipping, crypto,
finance etc). We have built an amazing team with best-in-class real world
experience
Jonah 🏅🎹
| Satoshi Club
You are all welcome Guys, we have a full team here
Robocop | Satoshi Club
Welcome Diana Kine
Can you explain how big are your team and which
region/country already provide your service?
Andrew
Our core team is roughly 14 team members and daily active
advisors
Chris Gorman
enVoy’s vision and motivation: Harness the full power of
Blockchain innovation to fix global trade. Enable more of the world to share in
economic progress and shift to truly Green choices.
Cedric Antonio 🔺
We are based in NY, Geneva, Glasgow, Tokyo, Latvia, Spain,
London
also have reps in Shanghai, Vietnam
Lee tarone
Our focus unlike most is latam and emerging markets and those who have the vision to focus on
sustainability.
Andrew
We are a truly international team!
Lee tarone
Thanks to our partners enabling data from carbon monitors we
can change the way
Cedric Antonio 🔺
the main Supply Chain Finance Platform will be ready by Q1
2023, which will operate globally. For trading of commodities
Jonah 🏅🎹
| Satoshi Club
Thank you for the introduction guys, we will now like to
proceed to our community questions are you ready?
Lee tarone
Enabling payments and trade means the more trade finance we
do the less tokens in circulation and leads to huge increase in Crypto value.
Chris Gorman
The scale of real world current demand, combined with the
lack of people who are capable of solving this ensures that there is huge
appetite for staked tokens for defi usage which enables us to guarantee some of
the best yields in the market
Lee tarone
Finance more huge gains
Robocop | Satoshi Club
Thank you for the detail introduction
Cedric Antonio 🔺
sure thing, let’s start
Andrew
Our initial focus will be on LATAM trade but we are
regionally agnostic because we aim for our process to be globally compliant
from the start
Lee tarone
Most projects don’t have a business to finance. We finance a
real world problem in the trillions. This means huge gains of VOY
Chris Gorman
We have spent 3 years immersed in development and
partnership building
Lee tarone
The bigger the market cap to defi the more community farming
rockets
Robocop | Satoshi Club
Thank you for the great intro
Robocop | Satoshi Club
Q1 from Telegram user @jameslekan664
International/Cross-border transactions requires a high level of security coupled to the fact that attimes, buyers and sellers may not know each other physically. enVoy DeFi had mentioned that one of it’s objectives is to discourage the idea of paper documents as paper documents are prone to frauds and errors. Can you give us an highlight on the security measures/policies/innovations which enVoy has in place to replace the paper document and ensure secure and flexible transactions? What registration and KYC process will buyers/sellers go through and how will enVoy address a case of missing or lost asset which is quite possible? For international/cross-border transactions, do you currently hold any partnership with any airlines/shipping ports? If yes, Give details
Thanks!
Cedric Antonio 🔺
The most common paper document required by all shipping
contracts is the Bill of Lading (BL). This is being digitised and replaced by
our tBL (tokenized Bill of Lading). The tBL contains all the same information a
normal paper BL would contain, but it is digitised and stored on the blockchain
and will be wrapped in our NFTs once that is deployed.
The team, who has decades of combined experience in this
field, has gone through the various processes required, and extracted the
“goal” of each of the paper documents and placed them on the website
in digital form. As a couple examples, we have implemented KYC/KYS/AML checks
and will have this data on Corda blockchain.
We have implemented sanctions tracking for vessels and
ports. Any blacklists or red flags immediately get recorded so it forces ships
to stay compliant. With all these innovations we can ensure the same required
international shipping processes stay intact, but are now digitised and secured
by blockchain.
All users of the SCF platform will go through a full suite
of KYC, AML, and KYS (for suppliers). This process has been put in place that
mirrors the same or better requirements than most global banks.
In the case of missing assets, there is a standard
arbitration process in place. In terms of funds, these are controlled by the
smart contracts which determines the exact requirements for release. If those
requirements aren’t met (such as satisfactory delivery of goods) then funds
will remain locked unless reverted back to buyer’s account through arbitration
or other remediation. In the case of missing or lost assets, this depends on
the contract between buyer and seller. They will usually have a clause in their
documentation which sets out the process in these instances.
For international transactions, we do not hold partnerships
with airlines (typically a logistics provider maintains these) but we do have a
close relationship with many advocacy groups and communities major shipping
such as at port of Miami. The majority of international trade happens overseas
which is our initial focus.
Andrew
Ultimately, we analyzed all the paper based processes,
distilled them down to their core essential functions, and digitized that
process
Cedric Antonio 🔺
All of this using the $VOY token as a strong part of this
ecosystem.
Andrew
Not just a strong part, an essential part!
Cedric Antonio 🔺
totally
Robocop | Satoshi Club
Thank you for the answer, i can see security is your main
priority but speak of security, do you already do audit for Smart contract ? if
yes can you share the result with us?
Lee tarone
This is our CTO mikes domain
Andrew
I think he is muted! But that said, we do have a smart
contract audit completed – we are pulling up the link to it now. Hold please!
Andrew
From Mike: We’re really careful about our contracts and make
sure that they’re checked by separate experts and go through a full independent
audit.
Lee tarone
Ans given most of our tech on corda is corporate we have
super high security around corporate transactions and data given the huge
amount of document fraud in trade finance
Andrew
from the SCF side of things, Corda does a great job in
protecting business assets as they are a private permissioned blockchain.
This is very clear and detail answer, do you want to add
something or we can go to 2nd question ?
Cedric Antonio 🔺
Yes, sure
Michael
We’re really strong on security – one of our main
priorities. We want enVoy to be a key part of world trade, along with the $VOY
token, so we take a lot of care.
Chris Gorman
Happy to go to next question
Robocop | Satoshi Club
Q2 from Telegram user @meml97
While reading about EnVoyDeFi, I learned that $VOY holders can benefit from the use of their tokens in the supply chain finance ecosystem. So, having that in mind, can you explain to us more about this privilege holders will have? How will they be able to benefit from the use of their token in the supply chain finance ecosystem? Alongside that, do you mind telling us more about what other benefits will holders have on EnVoyDeFi? Why is it necessary to hold $VOY? What kind of advantages can we receive from it when it comes to your innovative products such as Tokenised Letter of Credit and Tokenised Bills of Lading ahd your overall paperwork digitisation services?
Lee tarone
This secures that our communities purchases are secure and
we engage with regulates exchanges like liquid and a focus on driving liquidity
and safeguard from manipulation and dumps in token pricing
Cedric Antonio 🔺
thank you for the question, we will break it down
Lee tarone
The LCs are a super cool feature that bring to life real use
of NFTs that actually have value and a sellable resale market.
Cedric Antonio 🔺
The innovations created by enVoy DeFi (such as tLC and tBL)
create value and functionality within the supply industry that was never there
before. This helps to close the Trade Finance Gap.
What that means is there are trillions of dollars of
potential trade that cannot happen due to deficiencies in current traditional
processes.
DeFi users can gain by helping provide liquidity. That
liquidity combined with the power of enVoy’s innovations will creating access
to that gap. Think of it like picking up money off the floor! Even just a
sliver of that trillion dollar gap, we can all greatly succeed!
Jonah 🏅🎹
| Satoshi Club
So true
Chris Gorman
I thought the Satoshi Club team may appreciate the following
in our current world objectives -In addition to the risk based approach , enVoy
applies sanctions screening to individuals and legal entities for breaches in
international sanctions on countries, businesses, individuals . Further
screening is done to check for Poltically Exposed Persons either as individuals
or as directors of a legal entity. The RBA will then assess for acceptance /
rejection. All transactions are reviewed for suspicious activity.
Cedric Antonio 🔺
Holding the $VOY token will enable you to participate in
this whole ecosystem.
Jonah 🏅🎹
| Satoshi Club
Do you have a separate team dedicated to do the screening?
Andrew
VOY is the functional utility token and only means to
transact value within the enVoy ecosystem. When a contract is created between a
buyer and seller, a buyer and financier must lock up VOY on the platform. This
locked VOY acts as a guarantee for the seller that the buyer has funds
available for the trade. This lockup process is akin to current Letter of
Credit (LC) process.
Cedric Antonio 🔺
Yes we do, we partnered with KYC-Chain to make this happen.
Andrew
For DeFi users, holding the token (and more specifically,
staking the token) helps rpovide liquidity to the DeFi fund. A third party manager
uses funds from this pool and funds contracts exclusively on the enVoy SCF
platform
Andrew
In the same way, a bank or other large traditional
institution would
Cedric Antonio 🔺
Robocop | Satoshi Club
Can you share the tokenomics for $VOY token ?
Andrew
Interest and profits from funding these contracts goes back
into the DeFi fund. As a reward for providing liquidity, DeFi stakers will get
yield rewards based on the plan they choose (higher yield for higher lock-up
periods). Rewards/yield are not affected by the losses of the DeFi fund on the
SCF because a separate DeFi reserve pool is maintained to help minimize the
affects of volatility.
Cedric Antonio 🔺
sure, as it is on the website, here is an overview of the
tokenomics.
Jonah 🏅🎹
| Satoshi Club
Thank you all for your detailed answers, are you ready for
the next question now?
Robocop | Satoshi Club
Thank you for the clear answer, lets move to 3rd question?
Chris Gorman
Yes please
Robocop | Satoshi Club
Q3 from Telegram user @Cheriemike
Shipping is one factor that contributes to air pollution and GHG (Green House Gases)and I notice that in monitoring and reporting carbon enVoy SCF will be supporting the “Blue Carbon -Blue Ocean” concept.So can tell us more about this concept and what you have achieve so far?What is the current benchmark levels you have set for vessel CO2 and other pollutant footprint and how many are they? Currently we know the situation between the peaceful country Ukraine and Russian,Russian Warship are currently on the Black Sea and the smokestack emissions from this ship are not healthy to the lungs and blood which can likely lead to heart and lung failure.So what will enVoy’s Ecosphere do in this regard for the safety of our friends in Ukraine alike?Can you tell us little about your auditable ESG(Environment Social and Governance)?Please explain Thanks
Cedric Antonio 🔺
enVoy’s core guiding principles of Sustainability and ESG ensure Green and Blue Carbon monitoring
as well as ESG certification and compliance to
internationally accepted standards.
enVoy Green monitors the carbon footprint of industries and
supply chains,
enVoy Blue monitors the carbon footprint of individual
vessels as well as any other pollution incidents.
By measuring and comparing these criteria, importers,
exporters and financiers are able to develop informed, sustainable supply chain
options.
ESG certification of sellers and supply chain members, allows
buyers to choose to use ethical, well-governed suppliers with high corporate
standards.
A Toren
Hi everyone
Andrew
Hi Arzu!
Jonah 🏅🎹
| Satoshi Club
Hello welcome to Satoshi Club
Robocop | Satoshi Club
Welcome A Toren
Cedric Antonio 🔺
Financiers are able to offer Green financing to favour
clients with good sustainablility and environmental records and practices.
Jonah 🏅🎹
| Satoshi Club
Thank you for your answers btw our next question talks about
your green program ready for it now?
Cedric Antonio 🔺
please go ahead
Robocop | Satoshi Club
Q4 From Telegram User @GracieEne
I read in your whitepaper that enVoy is well aware of the need to reduce pollution and to preserve our world for future generations, with regards to this, enVoy plans to roll out the enVoy Green program in which vessel carbon emissions are tracked and recorded. Discounts will also offered to financiers who back contracts that choose to ship their goods via low-emission vessels. Can you tell us how enVoy intends to track and record a vessel’s carbon emission? What are the instruments used in the tracking process?What other measures have you put in place in order to achieve a reduction in pollution? What other solutions are obtainable in this Green program asides tracking and recording of carbon emissions and what percentage discount do you intend to give to financiers who back contracts that choose to ship their goods via low-emission vessels?
Chris Gorman
As we are primarily fulfilling SME’s in developing countries
that are currently unable to access trade finance it becomes far easier to
implement sustainable policies as tthis is opening new markets not trying to
change current cost focussed markets
Andrew
We have partnered with Carbon Chain to record and provide
ship carbon emission tracking and analysis
Jonah 🏅🎹
| Satoshi Club
What developing countries are you focussed on?
Cedric Antonio 🔺
TL shipment and container progress reporting is based on the
trade and…have live satellite tracking or a service on vessels and Shipping
companies.
Chris Gorman
Also by enabling suppliers in the least developing countries
we not only help their economies but also introduce further competition into
the global supply chain
Andrew
we achieve to reduce pollution by rewarding good actors.
Those who fund contracts related to green ships will get better funding rates
and discounted commissions.
Cedric Antonio 🔺
We will start with LATAM strong focus with Brazil and
following through with Asia (China)
Chris Gorman
We are currently in discussions with multiple NGO’s to work
in partnerships in specific areas
Jonah 🏅🎹
| Satoshi Club
Are the details of the discount percentage and funding rate
they will get ready?
Andrew
Our platform is globally agnostic so we can really go
anywhere we need to!
In terms of discounts, that will depend on the ships used
and the green score achieved by those individual ships/route. We will
incentivise based on what we see as effective as we move forward. It is always
important for a company to stay flexible and change based on the
existing/changing financial landscape
Jonah 🏅🎹
| Satoshi Club
Great
Thank you for your answers
Ready for the next question now?
Andrew
let’s goooooooo!
Andrew
haha
Robocop | Satoshi Club
Thank you for the answer, lets go to next question
Chris Gorman
you can tell who the marketing guy is
Robocop | Satoshi Club
Q5 From Telegram User @thisistoyin
Following up on your latest Developments, i saw that $VOY has been listed on Uniswap, & after Log-in in my profile on your site, i encountered a A Future Called the COMMIT & EARN, which after clicking on it, displayed a notification that read “VOY staking will be available following the launch of trading” please i would like to know how these COMMIT & EARN FUTURE works, and could you please Give clear information on when you plan to Launch your Trading platform? Further more, I am Curious to know, What is the Significance of the Name ENVOY to your project? does it represent anything In your Platform? Thank you.
Cedric Antonio 🔺
So let me anwer the enVoy one first
Voy means to send, and envoy is the action of sending. which
resumes our whole name, we are supporting buyers and sellers to connect in a
seamless and digitized manner.
That’s where the name enVoy came in, chosen by our CEO,
@coolnerd100
Andrew
SCF launch is currently slated for Q1 2023. However,
purchasers will immediately be able to stake and earn yield even before the
launch. We have a significantly sized DeFi Reserve Pool for this purpose.
Jonah 🏅🎹
| Satoshi Club
Can you share your roadmap with us Please or better still a
link to it
Cedric Antonio 🔺
sure, it is on our website, and being constantly updated
with the latest innovations of what we are doing right now
Andrew
Chris Gorman
Our payment rail will launch earlier andf the VOY token is
an integral part of the value transfer (making payments) to suppliers, shippers
and agents
Jonah 🏅🎹
| Satoshi Club
Great activities lined up thank you for sharing
Andrew
Updates can be found on our website – scroll down to just
after our whitepaper/two pager/token deck
Cedric Antonio 🔺
we are currently separting the corporate and the crypto
roadmap so that it clears off the confusion on what we do
Robocop | Satoshi Club
Thank you for sharing the roadmap
Jonah 🏅🎹
| Satoshi Club
Great
Do you want to add anything to your answers?
Or can we proceed?
Cedric Antonio 🔺
I think we covered most of it, let’s move on sure
Robocop | Satoshi Club
lets move to last question from part 1
Andrew
nooooo, last question? too soon!
Robocop | Satoshi Club
Q6 From Telegram User @Asela1112
At the end of 2022, You are going to make the enVoy DeFi to be live Which means the launching of Mainnet. Can you elaborate more details regarding the enVoy DeFi mainnet event? Will there be some incentive events along with the mainnet release? What will be the advantages for the early users of enVoy DeFi mainnet? However, enVoy DeFi platform begins from 2018 & Hope to live on 2022. What things do you have to tell to your community before go for live on this year?
Robocop | Satoshi Club
still have part 2 for live section
Jonah 🏅🎹
| Satoshi Club
There will be more in the second part Start getting yours
hands ready
Andrew
hahaha
So i think there’s a little bit of confusion so to clear
that part up first – VOY on Ethereum mainnet is already live, but the SCF
platform will be launched later
For early purchasers of VOY, the big advantage is that they
will be able to earn staking rewards even before the SCF platform is launched
Chris Gorman
For the community We are a fully transparent and
accomplished team. we intend to be actively engaged across multiple channels
and keep the community updated and motivated through many initiatives.
I would suggest following us on social and please engage
Jonah 🏅🎹
| Satoshi Club
Thank you for clarifying this
Awesome
Andrew
the envoy ecosystem has three distinct sections
1) SCF Platform for business case (buyers/sellers/financiers of global goods & trade)
2) DeFi (all of you!!!)
3) cross border payments
Cedric Antonio 🔺
The SCF is built on a platform called Corda owned by R3,
it’s purely corporate
Andrew
but we enable and democratize this process by allowing the
community and everyday ppl to join in on
the DeFi
Chris Gorman
We are in perfect position to make a real difference, one
that is needed by so many. I hope we have illustrated today just how advanced
we a re and how passiionate and commited we are to this cause.
But the truth is we will achieve this so much more quickly
if we embrace, listen to and empower our community
Robocop | Satoshi Club
can you please share the important link or social media from
enVoyDeFi? so Satoshi Clubber can follow your new update
Andrew
the DeFi fund that’s created acts as a financier on the SCF
– in the same way banks or high wealth individuals would
Jonah 🏅🎹
| Satoshi Club
Thank you all for your detailed answers
Andrew
this industry has so much opportunity – the downside is it’s
such a big project to undertake. but we have been working hard for a very long
time to build the foundation and bring all of it together in the enVoy
ecosystem
we are now at the point where we need you all, the
community, to help us move things forward!
Jonah 🏅🎹
| Satoshi Club
Great to know that you have a Hard working team behind this
project
Andrew
we the people are an unstoppable force. together we are just
as powerful as the big banks and oligarchs out there controlling the industry
we’ve created an opportunity for the everyday person to get
involved and make a difference!
it’s all good – this is a great ama so far – thanks to
satoshi club!
Jonah 🏅🎹
| Satoshi Club
We will now like to proceed to the most anticipated part of
our AMA the second part.
Robocop | Satoshi Club
Thank you guys ! it has been an amazing time in this first
part of the AMA
Robocop | Satoshi Club
Now is time to proceed with the second part, the live
segment part 2, are you ready?
Cedric Antonio 🔺
sure! let’s do this
Jonah 🏅🎹
| Satoshi Club
Chat will be opened for only 120 secs
Robocop | Satoshi Club
we will open chat for 2 minutes and then chat will be closed
– you can start select 10 best questions
!
Jonah 🏅🎹
| Satoshi Club
Opening Chat now
Part 2 — live questions from the Telegram community
Q1 from Telegram user
As we see that Global supply chains are very complex, As you have brought your technology to solve this issue, how will an average users be able to understand your technology & project?
Cedric Antonio 🔺
The average user does not need to know! that’s the beauty of it. all you need to do is stake and earn.
Now that said,we highly encourage everyone to understand what and where they are putting their money,we are available to educate and answer questions you may have
Q2 from Telegram user
While looking at your Whitepaper, I noticed that enVoyDeFi created something called The Tokenised Letter of Credit (TLC), which you stated is your first major innovation. Q3 With that in mind, could you please share more details about this innovation that enVoyDeFi is bringing to the table? How will it exactly work and what do users need to do to take advantage of it? What benefits will TLC bring to people? How do you plan to change the blockchain industry and economic industry as we currently know it with the Tokenised Letter of Credit? Thanks.
Cedric Antonio 🔺 The tLC is a digitised version of credit. What happens is when a contract is created, it will have terms attached to it (how much is the contract, when will money be disbursed, etc). You can think of the tLC as an NFT version of a loan document. Since VOY is staked, there is collateral. This collateral ensures that value is ready and available to pay for goods. The innovation here is that these staked collateral is available to be seen on the blockchain and protected by blockchain. The funds are visible to the seller and locked until it is eligible to be released. Smart contracts then control when/if funds should be released and this process is transparent for all parties involved.
Q3 from Telegram user
Have you considered attracting non-crypto investors to the EnVoy Defi?What strategies do you have to bring your project’s name to the attention of non-crypto users?
Cedric Antonio 🔺
Absolutely – this has been part of what we were building in the background for the last several years. We have use-case partners on the SCF platform, buyers, sellers, and financiers. The DeFi fund will be active on the SCF platform alongside other traditional financiers.
Q4 from Telegram user
With regards to your staking, what will be the requirements to be able to stake VOY tokens? What is the minimum and maximum number of VOY tokens that a user can stake on your platform? Will this be the only stakeable token on your platform, and asides the rewards that is distributed to stakers based on their stakes, will those who stake VOY tokens get any other benefits or incentives? And will users be allowed to remove their stakes anytime they want?
Cedric Antonio 🔺
To stake VOY tokens, the current minimum is USD 1,000 worth of $VOY tokens. This is put in place due to the administrative costs associated per staking contract. This is where it is set for now but it may move in the future as we assess and reassess and increase over time.
Q5 from Telegram user
Investors of any project only invest in that particular project if they have the same vision ,Who are Your Partners that have same Vision?
Cedric Antonio 🔺
We have many partners across various aspects of the business.We have use-case partners (private businesses) who are committed to utilizing our platform. We have partners in ESG and ship tracking (Carbon Chain, Polestar). We have partners in KYC and security (KYC Chain, IBM Tradelense).We have blockchain partners such as R3 Corda. And we have many other partners who are helping us white-label and build portions of our platform.By leveraging existing technologies alongside our innovations and vision, we are piecing together this incredible ecosystem.We also have trading partners in place for the pilots and many others ready to use the service once fully operational
Q6 from Telegram user
What role does ENVOY play in meeting the growing demand for supply chain transparency, resource efficiency, security, and long-term sustainability? They also claimed that trust issues have resulted in a $1.7 trillion trade finance shortfall, which enVoy can close. How will ENVOY close the chronic gap? What role will ENVOY play in addressing the issue of trust?
Cedric Antonio 🔺
enVoy facilitates the transparency , efficiency, security and long term stability.Using blockchain allows for transparency in funding,smart contracts and thorough corproate KYC/AML help in efficiency and security, and the VOY token and our amazing community will ensure long term stability.
Q7 from Telegram user
In Your Roadmap, I Read About the R3 PILOT TRIAL , Which Will be Launched in Q2 2022 , May U Please Tell me More More about R3 PILOT TRIAL ?
Cedric Antonio 🔺
So we have the R3 pilot trial based on the latest version of Corda however this is under launch right now and we cannot write out too much about it yet until it is fully published. More to come on this soon!to add to this : The pilot trial with R3 will be a live, dry run of the actual SCF platform. in action! This will be attended by major banks, suppliers, shipping companies, and other global players in the supply chain industry.unfortunately due to NDAs we cannot disclose the exact names of these companies but many are already lined up and waiting. we are leveraging R3’s massive international reach and partnerships. R3 is heavily focused in supply chain innovations so they were a natural partner for us on the SCF platform
Q8 from Telegram user
I Would Like to Know about the STAKING and FARMING Feature of the Gemuni Platforms, Has It been Launched Or In Coming Times You will launch Your Staking ?
Cedric Antonio 🔺
We will be turning on staking very soon in early Q2 ahead of the launch of SCF platform. It is ready to go, we are just triple checking and doing our quality assurance
Q9 from Telegram user
What will be the role of NFTs in your ecosystem? What will be their field of use and what benefits will they bring? What is the value of NFT, s in the ecosystem? Thank you
Cedric Antonio 🔺
NFTs are amazing. In its current form, people are just buying and selling JPEGs on blockchain essentially. However, we believe that is only making use of a small bit of their real potential.In essence, an NFT is a wrapper or container which is immutable and each one is unique. This lends itself perfectly to contain a trade contract
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 Ninja Fantasy Trader and our guest was . The AMA took place on the 1st 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
Pavel P
Hello Satoshi Club! Welcome to our first AMA session in
March with Ninja Fantasy Trader!!!
Jonah 🏅🎹
| Satoshi Club
Our guest for today is @aemorales
Hello Welcome to Satoshi club
Pavel P
@aemorales, welcome!
A few minutes of patience
Jonah 🏅🎹
| Satoshi Club
Welcome @aemorales
Ariel Morales
hello and really sorry for the daly
thank you for having me
Jonah 🏅🎹
| Satoshi Club
Glad to have you here
How are you doing today?
Pavel P
Glad you’re here!
Ariel Morales
doing great and excited about this AMA, but very busy as we
always are launching an NFT project
Pavel P
And we’re excited to know your project today
Jonah 🏅🎹
| Satoshi Club
Great.. Let’s start our AMA
Pavel P
Let’s start!
Jonah 🏅🎹
| Satoshi Club
Can you please introduce yourself to us how you got into
crypto and how the project started?
Ariel Morales
Thank you for the question. My background comes from a Cloud
Computing and Blockchain technology. Usually working on Fintech companies and
solutions. This project started more than 8 months ago. It’s basically a family
project and business. My wife is also computer specialist and her brothers. The
idea came from a paper Trading day I was doing and also some research about
Axie Infinity Play To Earn Model
Pavel P
Family business should be exciting ! You know team members from
A to Z
Jonah 🏅🎹
| Satoshi Club
Interesting.
So can you tell us what Ninja Fantasy Trader is all about?
Ariel Morales
It is a Trading P2E game where you can make some real
profits doing paper trading. Some others game modes also are included such as
tournaments and battles.
Jonah 🏅🎹
| Satoshi Club
Alongside your Family, how many people do you have working
on this project?
Pavel P
Great mix!
Ariel Morales
Some other members are offshore. The total team right are 8,
including designer, illustrator, developers. Also we hire of course PR Agency,
Community Team is also hired. So we got the core team and some services are
hired on demand
Ariel Morales
Thanks!
Jonah 🏅🎹
| Satoshi Club
Thank you for the introduction
We will now like to proceed to our community questions are
you ready?
Ariel Morales
sure let’s move on
Pavel P
Q1 from Telegram user @Danniblaiz
About your NFT marketplace, 10,144 NFT Samurais will be on sale for the upcoming round of the pre-sales and will last for 1 month, or until NFTraders are sold out (whichever earlier). And also These NFT Samurais are exclusively for those whose wallets are whitelisted. Each wallet will be able to get a maximum of 10 Samurais. Is the whitelist process ongoing? What are the requirements and steps needed to enrol and take part in the whitelisting process? If I get this Samurais token, can I trade it on your NFT market or other platform? Is it listed already? Do you plan on conducting a public sale as well after this? Thanks
Jonah 🏅🎹
| Satoshi Club
Sorry about that
Ariel Morales
sorry for the links
Jonah 🏅🎹
| Satoshi Club
Ariel Morales:
Good question. Today we are announcing the whilelist requirements. To be part of, you need to be part of our Discord Server (https://discord.com/invite/A4aCehasYp) and meet the requirements which are basically be engaged on the community. The Samurais Collection will be available in OpenSea. The official collection is: https://opensea.io/collection/ninjafantasytrader-samurais-presale There some fake collection already! Be aware of this! After the public sale is done. You can trade also in our marketplace as well with lower gas fee.
Jonah 🏅🎹
| Satoshi Club
You can send Links now
Pavel P
Great hint to our community members – do not waste time,
guys!
Jonah 🏅🎹
| Satoshi Club
Will there be any future sale asides this?
Ariel Morales
Yes. After the presale(3 stages and 30 days aprox) will be
public sale. The price will be the double of the presale
Jonah 🏅🎹
| Satoshi Club
Thank you for your Answers
Ready for the next question now?
Ariel Morales
Yes
Pavel P
Q2 from Telegram user @Jmagsss
After reading the your token’s information on your whitepaper, I noticed that one way to earn $NTC tokens is through organizing and holding tournaments for the players and traders of Ninja Fantasy Trader. With this being said, it is clear that the users themselves can create tournaments for their fellow users. Are there certain requirements to be able to organize and conduct a user-created tournament on your game platform? Will all users be eligible to do this or are there certain conditions? Can you please discus more about this feature?
Ariel Morales
Ninja Fantasy Trader will have tournaments created by the platform. Limit of participants and some other requirements like market where you can trade will be set by default. But also users will be able to create and organize their own tournaments as a way to make some extra profit. The will be defining rules, prizes, percentages for first positions, including a fee for the organizers. You can get more details in our whitepaper: https://whitepaper.ninjafantasytrader.com/gameplay/nft-companies
Jonah 🏅🎹
| Satoshi Club
Can you share with us the tokenomics of $NTC?
Ariel Morales
just to confirm. are you asking for the link with all the
info?
What was surprising to get to know is that your Ninja Fantasy Traders have a unique feature to take financial decisions for the owner making him/her richer. The most important NFTs of Ninja Fantasy Trader are NFTraders. They have unique characteristics and skills to be used in their operations. Could you explain how exactly NFTraders manage their operations? What are features impacting the efficiency of trading process? Is that the IQ level that is the driving power for these processes? Thanks!
Ariel Morales
NFTrader is the main NFT player you require to do trading in the game. A real and human player is who open and close trading operations in the game but is based on the NFTrader as a character in the game, how well or how many real profit you can make. There is a big formula to calculate the amount of $NTC tokens you can make for every succesfull trade. But in general it is affected for characteristics such as: IQ, Experience, Bull and Bear Factor, dominant assets, and some others. This is the full spec of what I just mentioned: https://whitepaper.ninjafantasytrader.com/gameplay/nftraders
Jonah 🏅🎹
| Satoshi Club
Thank you for clear answers
Is there a limit to how many $NTC a user can make?
Pavel P
Could you show us one of your NFT heroes?
Ariel Morales
One of the characteristics of a NFTrader are called
shurikens: It is basically how many opportunities you have a day for make
profits on a succesfull trade. This as some other characteristics can be
upgraded over time either purchasing virtual courses within the game or doing
trading. so you can have at some points a double of your initial shurikens so
you can make a double of profitable trades
I’m sharing an aspect of some in this moment
Pavel P
Nice!
Jonah 🏅🎹
| Satoshi Club
Awesome
Thank you for your Answers
Ariel Morales
all of them have a version as a Trader and also a Ninja
version when they enter in a Battle
Jonah 🏅🎹
| Satoshi Club
Let’s proceed to the next question now
Pavel P
Q4 From Telegram User @GracieEne
Unlike most Metaverse projects I’ve seen, I see that you have a VIP Membership Plan on your platform where users can get access to trading courses, daily market analysis, signals, access to a VIP Trading Group, and a community of thousands of real traders. How much does this VIP membership plan cost, and will this be a Lifetime VIP membership plan, who are the ones responsible for carrying out the daily market analysis and signals for these VIP members. At the moment how big is this VIP group of yours, why should users pay for your VIP membership considering the fact that there are thousands of other VIP groups out there where they can get market analysis and signals and at the end of the day some of them don’t give their users real value for their money. And asides this VIP membership plan what other membership plans do you have that will give other category of users access to some of these benefits?
Ariel Morales
Owning a Samurai the cost of the VIP membership is zero. We
are landing some deals and partnerships with trading courses providers who are
already handling this part. Signals and alerts, and some others features will
be included. All of these will available for not only our online web but also
within our discord server where you can get alerts, and also open and close
operations from there.
Jonah 🏅🎹
| Satoshi Club
Great.. what other benefits are attached to this membership?
Pavel P
What is the price for Samurai?
Ariel Morales
Yes of course. Thanks for asking. Community events and
Competitions with big rewards are attached to this exclusive membership.
0.2 ETH for public sale. Presale is starts from 0.1ETH
Jonah 🏅🎹
| Satoshi Club
Thank you for your Answers
Pavel P
Thank you for your answers!
Jonah 🏅🎹
| Satoshi Club
Ready for the next question now?
Ariel Morales
Presale starts*
yes
Pavel P
Q5 From Telegram User @Rozielyna
I understand that Ninja Fantasy Trader is a Play-To-Earn trading game. Ninja Fantasy Trader trading game has 3 gamemode which includes the Individual Game Play, Battle Mode and Tournament Play. Can you please explain and highlight the features of the 3 game modes? Do you have specific requirements for players to be part of the different modes and is its open to everyone? What are the trading limits for these Modes? What are the rewards system for each other these modes? Can Players modify the Game mode to create new Gameplay Mechanics, items and assets?
Ariel Morales
In the three gameplay you have to choose what market you
want to operate (Stocks, Crypto, Forex and Commodities). It is important to
know this price data is coming from a real market! You just need to have a
NFTrader, pick what market you desire and start open trades. The very basic
mode is trading in solo mode. This mode is playing alone against the market.
Then you have tournaments where you are participating in a ranking for a pool
prize. And the most exciting mode is Battles! In this mode you are putting in
risk all your gains of probably a week of trading. You have to put 3!NTC in a
pot and the winner is who take the whole prize! If you win you are taking a
week of trading in advance as a profit but if you lose you have lost a whole
week of profit. It is up to you what path to take
Pavel P
That’s indeed a great implementation of trading directly in
gaming.
Jonah 🏅🎹
| Satoshi Club
So for battles It’s either A week of Loss or A week of
profit
Ariel Morales
Thank! we believe that too!
Ariel Morales
that’s correct!
Jonah 🏅🎹
| Satoshi Club
Thank you for your Great answers so far
Pavel P
How does the solo trading works? Owners just put their NFT
on trading and what happens next?
Ariel Morales
Let’s say you have 10 shurikens (10 opportunities to make
profits and earn NTC tokens). You open a trade, if is successful you get x
amount of NTC based on a formula that is based on your NFTrader
characteristics. Let’s say probably an experienced NFTrader could be making
more NTC than a NFTrader with only 20 years old in the game
Ariel Morales
some others characteristics are included in that formula as
well
Jonah 🏅🎹
| Satoshi Club
Thank you for clarifying this
Ready for the last question of our first part?
Ariel Morales
yes I am
Pavel P
Q6 From Telegram User @iceVermithraxx
Users with at least 3 NFTraders can become CEO by obtaining their own NFT-Company in the metaverse. Can you elaborate on NFT-companies in Ninja Fantasy trader? What are the requirements for users to start their own NFT-companies in Ninja Fantasy Trader? Can users purchase already built NFT-companies from Marketplace? What are the incentives, benefits of users who own their own NFT-companies? lastly, Can you share on different ways in which CEO of NFT-companies can generate passive income by owning these NFT-companies?
Ariel Morales
To Have an NFT-Company you need to have at least 3
NFTraders. Having a company gives you the option to create tournaments. Users will pick the three NFTraders to mint
that NFT-Company and once created you can buy and sell in our marketplace as
any other NFT. One of the main features and benefits of owning a NFT-Company is
that increase your NFTraders levels under the NFT-Company umbrella. So you can
make the same trade but having better profits and also the our staking program
is based on NFT-Companies. So investors who want to stake the token have to
“invest” in any of the NFT-Companies in the marketplace. It is a fun
way to stake our token. So this way, NFT-Company owners can take a percentage
of that staking.
Pavel P
Will these companies have their personal ratings?
That could be smth to help users better choose where to
stake
Ariel Morales
Yes, they will have a performance based on the trading
operations (profits and lost) they are having and based on this is how much the
staking will be. So you as investor will be making more or less based on that
company performance, as happen in the real stock market. So you decide when to
put or take out your investment from company to other. As the same time the
owner of that company has to the his best in order to keep that investor happy
Pavel P
Amazing! Thank you for these great answers during the first
part of our AMA!
Part 2 — live questions from the Telegram community
Q1 from Telegram user @Ayuba Peter
Is there anything I can do to increase my chance of being whitelisted for Ninja Fantasy presale?
Ariel Morales
Be one of the first in our Discord Server and meeting the basic requirements listed. Be engaged and active is the best way. Also having the minimum amount of 0.1 ETH which is the cost of one NFTrader in presale
Q2 from Telegram user @Rakshhit
How much Samurais we should have to access the Game?
Ariel Morales
Just one is enough! owning more than one in presale comes with some incentives! For instance: if you purchase 10 you will get an extra NFTrader!
Q3 from Telegram user @Arnav
While exploring the project I got to know that there is a “GENETIC LAB”
Can you tell us purpose and functions of this lab?
Ariel Morales
Interesting question! This is where new NFTraders come to “live”! having two NFTrader you can breed them after 5 real days you get a new NFTrader with some genes from parents
Q4 from Telegram user@Lio
Security is important for Trust and safety . Are there any Audit plan of your project? Can you please share your roadmap ahead of your project?What are your security priorities?
Ariel Morales
Ninja Fantast Trader team takes very seriously this aspect. After this very first stage of the roadmap which is presale and public sale of the Samurais Collection. Next step on the roadmap is having audited all our smart contract for a certified authority and also audited our system for potential security breaches. You can see more details in our roadmap details: https://whitepaper.ninjafantasytrader.com/ninja-fantasy-trader-platform/roadmap
Q5 from Telegram user @Solana
Can you share what are the unique/special feature that Ninja Fantasy Trader game have than other blockchain game competitor ? thanks in advance
Ariel Morales
Yes. This question is one of my favorite. We believe Ninja Fantasy Trader is very unique as a Play To Earn Game because the real market can affect the internal ecosystem of the game but also the internal ecosystem can affect the real market! and This! is something that you can think of how many Play To Earn game or Games in general can be proud of!
Q6 from Telegram user @Ravan 👿
What is the main difference between Iconic NFT building & NORMAL NFT building ?Could you please provide more information on this?
Ariel Morales
These are Unique NFT Buildings located in the main Traderland City called Traderland Downtown. This is the city with the major investment capacity for companies. So basically, having a company located in this City you going to have access to a greater limit of investment (staking) in your company, as a result you will get more passive income for your trade operations
Q7 from Telegram user @aemorales
Hi! I am new to your project . Can you please tell me what is the blockchain your project will be launching? will there be support of multiple chain in the future??Also do you have staking features??
Ariel Morales
The presale and public sale Samurais Collection will be live in OpenSea, so the initial blockchain for getting any of the NFTs is Ethereum. The game very soon will be live and it will be based on Binance Smart Chain (BSC). So all the Samurais Holders will be able to have bridged their NFT to our Marketplace and take advantage of lower gas fees. Down the road we are planning to support more blockchain networks
Q8 from Telegram user @aemorales
Do you have any ambassadar programme whoever wants to contribute in your project? How do you see as a community importance and project awareness in the global level where english is not spoken?
Ariel Morales
Yes we are defining the structure of this program yet and will be announced and spread out in our community. But in the mean time all the ideas and volunteers interested in starting and developing a community are always welcome. You all can contact us in our discord sever: https://discord.com/invite/A4aCehasYp and you will get always an answer
Q9 from Telegram user Vish 2021
How can we trust your project & we believe you are not a SCAM project? Nowadays so many Rug-Pulls and exit SCAM are happening now? Thanks
Ariel Morales
You always have to do your own due diligence in the crypto space. Sometime for me something that make a difference is if the project is just an idea or have some effort and time dedicated to build something a offer a touchable value proposition to the community. In our case we have developed already a demo for the marketplace and a demo for the play game where users very soon will be able to confirm how serious and committed we are on what we do. Having these AMA sessions and having a face behind you can track and confirm is another excellent way to have also a postive check. Having said this. I’d like to share two small videos of our demos so the community can confirm all these (if the admins allowed me)
Q10 from Telegram user @Alicia Correa
How can we have access to the VIP Membership and the VIP Trading Group?
Ariel Morales
Owning a Samurai. You can get a Samurai minting in the Presale and Public Sale. There is also a way to owning one, which is participating actively in our Community in Discord. We are announcing giveaways frequently. https://discord.com/invite/A4aCehasYp
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: 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. Plato Farm Team will select 5 questions and answer them.
For more details: Plato Farm – @platofarm 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$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Ninja Fantasy Trader Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Ninja Fantasy Trader
For more details: Ninja Fantasy Trader Website – ninjafantasytrader.com Ninja Fantasy Trader Discord – @NinjaFantasyTrader 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 MegaFans and our guest was . The AMA took place on the 25th of February
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 MegaFans! Welcome to Satoshi Club
Gold Rocket | Satoshi Club
Greetings, dear Satoshi Club community!
Zha Ke
Thank you for having us! We actually have 4 team members
with us here today!
Mary | Satoshi Club
Hello and welcome to Satoshi Club
Matteo Martinez
Hey everyone! Thanks for having us!
Gold Rocket | Satoshi Club
Today our guests are @Jdca8 @MegaCTO @matteomartinezz @Zha_Ke
Mary | Satoshi Club
How are you, guys?
Gold Rocket | Satoshi Club
Welcome guys
Jdca8
Great! Excited to join this AMA with the world famous
Satoshi Club!
Gold Rocket | Satoshi Club
We are honoured to have you here today
Mary | Satoshi Club
We are excited about todays AMA as well!
And now we can start it
Gold Rocket | Satoshi Club
Let’s start! Introduce yourself please. How did you get to
be involved in crypto & MegaFans
Tell us please about your position in MegaFans
Col B
Hi guys, it’s nice to be here. I’m Colin the CTO of Megafans
Gold Rocket | Satoshi Club
Nice to e-meet you
Zha Ke
Hello! I am the Operations Manager here at MegaFans, I actually joined the company after interviewing @Jdca8 for a news article at my old job. In that Interview we just connected and I wanted to join MegaFans, I started as a small time community manager and have grown ever since!
Jdca8
I was actually introduced while marketing for another gaming
company. Back in 2016 they offered to
pay me in BTC so I quickly dove in and studied the market before committing,
and I am glad I did!
Mary | Satoshi Club
Wow, great story
Col B
I’ve been involved in crypto for several years now, and have
built previous crypto based gaming systems.
I met Jeff back in 2017 working on a previous project and we
got together in 2019 in Megafans
Gold Rocket | Satoshi Club
Wow! you made a good career in the project
Gold Rocket | Satoshi Club
Great adoption
Jdca8
This space is an amazing opportunity to explore, advance
technology, work, play and help other people around this big blue marble of ours.
Gold Rocket | Satoshi Club
Great background
Mary | Satoshi Club
Could you tell us about MegaFans project what is it about?
Gold Rocket | Satoshi Club
yes you are on the right track
Jdca8
Thanks Mary – The Megafans is about multiple things. Our primary function is to build the world’s
first mobile esports community using blockchain technology and products such as
crypto and NFTS in a play-to-earn environment for gamers, collectors and
developers, where we combine wbe2+web3 for the greater benefit of our global
user base.
Mary | Satoshi Club
Wow, this must be something special
Gold Rocket | Satoshi Club
Esports is a very popular destination
Mary | Satoshi Club
How young is your project?
Gold Rocket | Satoshi Club
I’m sure you have a lot of followers
Jdca8
Yeah its hot right now, but I have been marketing for gaming
companies since 1998, so this feels like a culmination of my career. And I love what I do!
Mary | Satoshi Club
Ahaha, i believe it will be huge culmination
Zha Ke
We have actually just crossed 18,000 followers across all
social media channels this morning! Thanks in part to the Satoshi Club
Community that has already moved over and began to support our project!
Mary | Satoshi Club
Congratulations
Gold Rocket | Satoshi Club
Thanks for great introduction, we will have several
questions selected for the Part 1. Ready to start?
Jdca8
Let’s do this!
Gold Rocket | Satoshi Club
Q1 from Telegram User @UniqueVicky
I saw that Megafans has partnered with well meaningful organizations such as infinity pad one of the most dominant launchpad on BSC with built-in compliances, fiat support and many liquidity supporting tools, and also CRYPOSLATE, GATE,and DAO MAKER. Can you drive us through the basis of your relationship with this firms and the extent of your collaboration? Do you plan of adopting the ethos and their working structures into Megafans? In what way do you think your protocols can be optimized from the service deliverables these companies offer?
Zha Ke
These partnerships are a blend of investment and marketing
partnerships. There are several others joining the group that we have recently
made agreements with that we have not yet announced, and even more in the works
at this time! These partnerships give us dynamic support in multiple areas
including KOLs, Strategic Support.
Mary | Satoshi Club
You have awesome partners! And we will wait for more
announcements
Zha Ke
We are building our tech stack on ERC-20 using Polygon to
eliminate gas fees. Our NFTs are currently being distributed through
OpenSea.io, with more information coming in the future. This is the perfect use
case for our partnership with Polygon as they are expanding the metaverse and
gaming markets through projects such as Bloktopia. We intend to operate some of
the portfolio of our games on other blockchains.
Mary | Satoshi Club
You answered my question before i wanted to ask
Zha Ke
Just being thorough!
Gold Rocket | Satoshi Club
Thanks for your great answers
Are you ready for the next question?
Zha Ke
Absolutely!
Mary | Satoshi Club
Q2 from Telegram User @victorogb
MegaFans has principally summarised the ethos to its operational structure as; Unifying the two worlds of Web 2 and Web 3. Considering that there a loads of elements, assets and resources connected with these applications (Web 2 & 3), one might consider such statement of purpose as being a little bit ambiguous. For better understanding of products, services and expertise offered by MegaFans, can you kindly elaborate in details on the unifying approach offered, how does it ensure that everyone connected to MegaFans (including projects and individuals) enjoy rewards which are both sustaining and enriching? Can you briefly guide us through some of your most exciting products either released or in development?
Col B
You are absolutely correct in that it is a daunting task to
“Unify the two worlds of Web2 and Web3”, although it is actually quite simple.
Our users will be able to have a single account login across our entire
ecosystem of games, metaverse arcades, esports arenas. This is meaning they can
log in to this account on Web2 (app store games) while also accessing your
Crypto wallet all in one place that you can use to access any relevant
cryptocurrency to our games whether it is our own token or NFTs.
Mary | Satoshi Club
Cool! When this all be live?
Could you share your Roadmap with our community
Col B
We are currently live in the Apple App Store and Google Play
store with our mobile games. We will be moving into Web3 games in the very near
future
NFTs games have a limited player base,due to high cost for a new player to join the game.. If MEGAFANS were to attract a large number of player what aspect sets it apart from other communities? We all know that high cost for new players to join the game might be a discouraging, how do you intend to cube this issue Please?
Zha Ke
First of all, we can have everything from free-to-play
tournaments that are sponsored all the way up to an unlimited number of
entries. One of our strategies is to collaborate with other game devs that have
existing communities where we can combine our community with nearly 300,000
existing users with other communities and their existing users.
In addition…
We designed our system to lower the barrier to entry of
Esports so that anyone anywhere can play in a friendly and cost-effective way.
We call this “Esports for all”.
Mary | Satoshi Club
How expensive is to start playing?
Jdca8
Hey let me answer this…
Mary | Satoshi Club
Sure
Jdca8
We designed our system so that anyone can play. So we offer a vast variety of different level
and costs to enter tournaments. As our
community grows so will our tournament offerings and sponsorships. As of today we have tournaments ranging from
free to $5 USD. But again our system is designed to localize and offer
reasonable entry fees depending on those markets and availability of the
players Web2 and Web3 assets…
Mary | Satoshi Club
It’s acceptable price
Gold Rocket | Satoshi Club
Thanks for great answer
Mary | Satoshi Club
Thank you, guys!
Ready to jump to the next question?
Jdca8
One more point…
Mary | Satoshi Club
Sure!
Gold Rocket | Satoshi Club
Np
Jdca8
What I mean by ‘as our community grows so will our
offerings,’ we plan to expand our ecosytem into a massive metaverse offering
where there will be no limit to the tournaments, prize pools, participants and
games!
Jdca8
It’s coming so it is not a matter of ‘if’ but actually ‘when
and how’ we do this.
Mary | Satoshi Club
I like ‘no limits’
Mary | Satoshi Club
Thanks!
And let’s move to the next question!
Mary | Satoshi Club
Q4 from Telegram User @Porkerlight
The slogan of Megafans it says that ” Mobile e-sports gaming Fanatics”, for that reason you have an Android and iOS applications, but There exist the possibility to have access to the ecosystem directly from a desktop version? Do you have plans to create a Google extension or Web support to PC users?
Zha Ke
The Megafans team has a great deal of experience in the
e-sports/PTE space. Many of us have built prior systems, so have learned the
right way to do things and what to avoid. With this in mind, the server-side
code was written with the anticipation of creating a flexible system that we
could port to different platforms, not tying us to mobile-only. Moving into
HTML/PC games is definitely on the roadmap for us moving forward as we grow.
Mary | Satoshi Club
How many users do you currently have?
Matteo Martinez
We currently have 289,890 players.
Mary | Satoshi Club
And you are planning to have 2mln thus year
Mary | Satoshi Club
Which marketing strategies you prepared for this?
Jdca8
There are multiple ways we are growing our community
including but not limited to adding several new games on multiple platforms (We
have three in our current pipeline), opening new markets and regions, offering
a vast variety of tournaments, prize pools and of course introducing our
governance token and new NFTs collections.
Also…
As previously mentioned, we are working on strategic
partnerships with existing games, developers and and studios who can bring
significant other communities into our ecosystem.
Gold Rocket | Satoshi Club
share your links with us
Jdca8
Our Linktree has multiple links to games, community channels
for announcements and participation. https://linktr.ee/megafans_esports
Mary | Satoshi Club
Thank you! Ready to proceed?
Jdca8
Yep!
Gold Rocket | Satoshi Club
thanks for sharing, it’s very convenient
Mary | Satoshi Club
Q5 from Telegram User @jameslekan664
The MegaFans platform has a multiverse approach for earning
revenue and these includes;
1. Advertising
2. In-App purchase
3. Blockchain, cryptocurrencies, utility coins and NFT’s
4. White label esport system.
Can you brief us on each of these revenue generating
mechanisms? For a third party system to apply for advertisements on the
MegaFans platform, what criteria must they meet and how will MegaFans ensure
that only beneficial games will be advertised to it users? As a user, what
rewards will I get for clicking/watching an Ad on the MegaFans platform? Tell
us on the various tokens/Assets that will be supported on the MegaFans platform
alongside it own tokens.
Thanks!
Jdca8
LOL
Mary | Satoshi Club
We love your stickers
Zha Ke
We have developed a proprietary advertising server that
allows us to place media for affiliates and partners. In-app purchases happen
in our games where Web2 users purchase tokens to participate in tournaments for
prizes such as additional tokens, cash, cryptocurrency, and NFTS. One of the
unique Web3 offerings is that you will be able to stake our governance tokens
to earn our in-game currency tokens and NFTs. The NFTs can also be used as
in-game currency or an NFT owner can stake their NFT as a prize for other
players to participate in that the NFT owner owns a percentage of, meaning they
can share in the in-app purchases for that tournament. Lastly, the in-game
tokens can be traded up for NFTs or our Governance token.
Mary | Satoshi Club
How and where users will be able to get your governance
token? Which ticker it will have?
Zha Ke
Our white label system is quite robust. It is our most
significant offering to the market. Currently, we are looking for strategic
partners to help us mutually grow our businesses together. Specifically other
game studios and developers, other projects offering cryptocurrency, other
Apps/Dapps that otherwise would not be able to advertise their offerings to a
Web2 audience (our users). As far as user rewards go, our program is just now
in its infancy and we will expand to offer all digital and real-world assets to
our players and users. Our system is cryptocurrency agnostic. FOr example, if a
project wanted to come to us for a strategic partnership, we would offer them
tournament naming rights, advertise their offerings and products across all of
our games, and access to our user base which is closing in on 300,000
registered users
Mary | Satoshi Club
Perfect
Jdca8
We’re currently planning to launch on Gate.io and there will
be other announcements coming soon. Our
governance token will be announced soon as well.
Mary | Satoshi Club
We will follow your updates!
Gold Rocket | Satoshi Club
Thanks for your great answers
Are you ready for the last question of this part?
Jdca8
Thanks!
Jdca8
yes please
Mary | Satoshi Club
Q6 from Telegram User @joanlz21
What are the reasons why we should trust your work team, tell us a little about them, their experience in cryptography and their abilities to face threats, competition, market volatility and strengths so as not to be blinded by individual ambition for On top of the benefit of the MegaFans ecosystem, who are your main liquidity providers and DEX collaborators?
Col B
You only have to take a look at our team experience to realize they’ve been around a long time Colin, our CTO has worked as an Snr Developer and CTO for over 30 years at some of the largest multi-national companies in the world. European Lead Developer for Motorola and TRW to name a few. He has built crypto-based gaming platforms on Waves, Stella, and the Tron blockchains.
Jeff our CEO has equally as much experience in the gaming
industry, including working for the likes of Bet Online, Bet US, Draft Kings,
Ubisoft, WarGaming, and Jam City.
Mary | Satoshi Club
I am impressed
Col B
Our smart contracts will all be audited and attention to
detail on security is always at the forefront of what we build. Being apart of
LaunchPool Labs has introduced us to some great partnerships, bringing in even
more experience in the gaming/crypto space.
Cheating is obviously always on our minds, so we are
constantly working on improving our anti cheat system. With the help of White
Hat Hackers we will be making our security as robust as possible.
Mary | Satoshi Club
Fantastic
Gold Rocket | Satoshi Club
Sounds great
Mary | Satoshi Club
What about your liquidity providers?
Jdca8
Yes we will have liquidity providers. We have already had successful pre-seed and
seed rounds that were both over subscribed and we are currently in the middle
of a very healthy private, pre-IDO round…We do not believe liquidity will be
a major issue for us. Plus we already
have a live product and experienced team growing our business. So, I believe
MegaFans future is super bright!
Mary | Satoshi Club
Thank you, guys for this excellent first part!
Now storm of questions is coming, can you feel it?
Zha Ke
We are ready!
Mary | Satoshi Club
Let’s go
Part 2 — live questions from the Telegram community
Q1 from Telegram user @hihohiho140699
You Have Said that MEGAFANS is also a great place to publish the games for fame and fortune , May I know How Can I Publish My Game , What is The Process ?
Col B
Hi Hibo, Great question. The MegaFans SDK will be available for download to embed into your game. We provide support with installation and marketing to make sure your game gets put in front of our user base. The game will of course have to be tested for quality because the game will ultimately represent MegaFans, so will need to be not only fun, but of a high standard that we’d expect. But we’re open to partner with as many game studios as possible
Q2 from Telegram user @chinyere2020
What types of games will users be able to play on the MEGAFANS platform (Hyper-casual, casual, mid-core or hard-core)?
Matteo Martinez
Right now in the app-stores we currently have hyper-casual and casual games up and running with tournaments, however, we are always looking for more strategic partners and game developers to work with. Our mantra is “Esports for all” so we are looking to include and bring in gamers from all genres and levels of difficulty.
Q3 from Telegram user @Fatima6734
In recent times there has been in many NFT games but the main issues with them are that they are boring and not that rewarding, how will you try to solve this issue?
Matteo Martinez
The great aspect of our project is that we aren’t limited to just one game or even just a handful of games. Our software can integrate with essentially any mobile game on the app stores and create a competitive environment within them. That means that there is an unlimited amount of potential when it comes to fun and rewards. We offer free-to-play and play-to-earn gaming experiences with an emphasis on skill and fun as the foundation of reward receiving.
Q4 from Telegram user Alien
Can you list 1-3 killer features of your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Jdca8
Hi Alien, there are multiple killer features that differentiate MegaFans from our competitors. Some of these include: 1) We will offer Web2+Web3 features for our users, so they can have one account on MegaFans that utilizes off chain and blockchain assets. 2) We offer a turn-key white label product that is a killer solution for game developers to solve for user acquisition, retention and monetization. 3) We already offering and distributing cash, crypto and NFTs to our players. 4) We have a mission initiative to support women and minorities around the world and are currently executing by running tournaments that raise money and awareness for Kiva.org and CodetoInspore.org which is an all-women coding school operating in Afghanistan!
Q5 from Telegram user @hansoyeon
What are the advantages and benefits of being “VIP Status” on MegaFans? Also, what are the criteria for being appointed as a VIP? Can a new user become a VIP?
Col B
VIP status will be given to our stakers. If you stake your tokens you will be granted entrance into some very high paying tournaments. Other rewards are interest paid depending on staking amount with length of staking, air drops with our partners and various perks such as NFT sweepstakes each month and advert free game play
Q6 from Telegram user @alicandogan9
As a player I want to practice playing Candy Boo games without making an investment or purchasing any NFT, do you have a practice mode or demo on your platform? Does MegaFANS give players a free experience?
Col B
Hi Alican, there is always a free practice tournament with each game we have. They last for 5 minutes and will count towards your win stats, and occasionally we drop in some large prizes into our free tournaments, so keep an eye out for that
Q7 from Telegram user @sophiejohnson1
It says that every game on the MegaFans platform is standalone and downloaded from Playstore. How can I sync the game with MegaFans in this case? Or if I connect to your platform and play without connecting to it, what will change?
Matteo Martinez
Great question! Once you’ve downloaded one of our apps from the app stores all you have to do is create a MegaFans account within that game. From there you can sync that MegaFans account across all of our games where all the tokens you’ve earned or bought can be found as well as how you’ve placed in the tournaments you’ve entered
Q8 from Telegram user@EdgarCNova
The MegaFans project will be available in any country in the world without restrictions of any kind or verifications? Or is it necessary to verify in your project how secure the data is on your platform?
Col B
Great point! Skilled gaming rules are different in each country, sometimes even in each state/province, so we do need to be on top of this. Our platform can identify which country you are in and sometimes our tournaments will be different depending on this.
Q9 from Telegram user @faxplay
Which age of people are you targeting on this project?
Col B
MegaFans will be attractive to all age ranges and groups. It could be someone playing to earn a free Latte, or the more serious crypto investor looking to invest in their portfolio
Q10 from Telegram user @yasindkz
I think this is the first time I’ve seen MegaFans create a movement to involve women and invite them to play. This is a very creative goal. So what is the purpose of this idea and how did it come about? How do you think women will positively impact the GameFi industry?
Jdca8
Thanks Yaskin, I have actually been supporting women entrepreneurs as a personal mission since 2012. It stemmed from my own life experience, growing up in the international mining and minerals business with my mother and father, before I started my own career. I lived in remote areas around the world and saw how women were treated, which was not favorable. However, my mother was a nurse and always went out of her way to support women in their communities. That inspired me! When I discovered there is a huge deficit of women represented in gaming and technology, I realized we can help to support them and minorities in a positive way that can reach nearly every corner of the world. We just want to do our part and we are doing just that.
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: 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. Miracle Game Team will select 5 questions and answer them.
For more details: Miracle Game – @MiracleGame Satoshi Club – @satoshi_club Russian – @satoshi_club_ru Spanish – @satoshi_club_spanish Indonezia – @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 Cyclos and our guest was . The AMA took place on the 25th of February
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 Satoshiclubbers welcome to our ANA session with
CYCLOS
Robocop | Satoshi Club
Hello Satoshi Club community ! We are pleased to announce
today AMA with Cyclos
Jonah 🏅🎹
| Satoshi Club
Our guest today is @oxhantu
Hello welcome to satoshi club
Robocop | Satoshi Club
Glad to have you here, how are you today ? @oxhantu
Daniel
Doing well thanks
Jonah 🏅🎹
| Satoshi Club
Great.. Let’s proceed to our AMA
Can you please introduce yourself to us how you got into
crypto, and how CYCLOS started?
Robocop | Satoshi Club
Welcome back to Satoshi Club , i remember Cyclos already do
AMA on september 2021, but can you introduce again yourself to our new member ?
Daniel
Sure. I entered crypto in 2017 as head of research with a
large crypto media company and moved over to Binance in 2019 to work with
listings and investment. I’ve always
been interested in how crypto can revolutionize money so when DeFi came to the
forefront, I became very interested in launching a project that would
contribute to innovation on this front. That’s where Cyclos came in.
Myself and Shardul (co-founder) took what we felt were all
cutting edge ideas in DeFi and combined them together- concentrated liquidity
(letting liquidity providers choose the price range where their assets make
orders) + solana blockchain.
The first version of Cyclos was meant to concentrate
liquidity on Serum’s order books. However, when we launched the v1 mainnet, we
weren’t satisfied with the Serum integration. So we decided to go back to he
drawing board and build a concentrated liquidity market maker that stands on
its own.
Jonah 🏅🎹
| Satoshi Club
Impressive Background
Can you give us a brief intro of what Cyclos is all about?
Robocop | Satoshi Club
Thats really great ! you have a great background and
experience
Daniel
Sure. We are an AMM (automated market maker) built on
Solana. However, we use a new function for fulfilling swap orders called
concentrated liquidity. The basic idea is that if you want to put your idle
assets to work to earn a yield on Solana, you can come to Cyclos and choose the
price range where those assets are active.
For example, I might choose to provide liquidity on a
SOL-USDC pair with a price range of $80 USDC per SOL to $100 USDC per SOL. This
means that 100% of my assets are being used to fulfil traders’ orders in this
price range. This results in higher yields for me as a liquidity provider, and
much less slippage and price impact for traders. It’s a win win all around.
Jonah 🏅🎹
| Satoshi Club
At the moment how many Team members do you have working on
this project?
Daniel
The cool thing is, as we open up new pools, the opportunity
to earn from traders’ fees is huge in the beginning even without liquidity
mining incentives because your rewards are distributed according to the portion
of the pool you provide.
We have 4 devs an 2 on operations
Robocop | Satoshi Club
Thank you for the great intro , shall we go to part 1 with 6
question from community?
Daniel
sure let’s go ahead
Robocop | Satoshi Club
Q1 from Telegram user @Ecmq10
Hello Cyclos team. You mention that Cyclos is an AMM that solves the problem of capital inefficiency and maximizes returns for liquidity providers. Please tell us, how does Cyclos achieve this? What are the tools that Cyclos uses to solve this problem? How does being built on top of Solana help Cylos in dealing with the problem of capital inefficiency? For what reasons did you decide to choose Solana instead of another blockchain? Thank you!
Daniel
So I guess I already answered the first part of this in the
introduction regarding capital efficiency, as that is the core value offering
of the product.
Let’s move onto the Solana part. The biggest way building on
Solana benefits us is that there is very little in the way of fees to stop 1.
holders of any size providing liquidity on Cyclos 2. liquidity providers moving
their positions around as prices change. These are two massive barriers on
Ethereum for example which make it extremely expensive to use concentrated
liquidity.
So part of our reasoning for launching on Solana in that
regard was technical. The other was business oriented. We saw an opening to
build something that hadn’t been built yet on Solana, so we jumped at it.
Jonah 🏅🎹
| Satoshi Club
This gives you a first mover advantage on Solana
But Along the line do you plan on integrating other chains
as well?
Daniel
Yes. we are actively working on that front at the moment.
Robocop | Satoshi Club
yes, high gas fee from ETH really expensive and this is
something new for Solana Blockchain
Jonah 🏅🎹
| Satoshi Club
Awesome what chains are you working on?
Daniel
In our case it is particularly important, because liquidity
providers pay a gas fee every time they add liquidity and change their position
So in our case, since solana is low cost, capital should be
able to move much more quickly around to different price ranges where it is
needed
We will announce the chain when the time is right
Jonah 🏅🎹
| Satoshi Club
We will be on the lookout for this
Thank you for your answers
Robocop | Satoshi Club
Please don’t forget to share with Satoshi Club
Robocop | Satoshi Club
Let us continue to next question ?
Robocop | Satoshi Club
Q2 from Telegram user @chinyere2020
I learnt that the $CYS staking feature is now live on your V2 UI. Can you give more information about the $CYS staking feature? What is the minimum amount of $CYS tokens that users are eligible to stake? How long must users lock their tokens before they can withdraw their earnings? Will the APR% your staking pool be fixed or will it depend on certain market factors? Apart from the staking yield, are there other benefits that users who stake their $CYS tokens will enjoy?
Daniel
There is no minimum amount that can be staked. Users have a
choice- lock with no time and earn 25%. Or, they can lock their holdings for 4
months and earn 75-100% APR.
Once we deploy more pools, we will begin distributing a
share of the revenue from Cyclos directly to CYS stakers
Daniel
we will also implement governance
Robocop | Satoshi Club
Can you please share the tokenomics $CYS token ?
Jonah 🏅🎹
| Satoshi Club
Btw How many pools are available at the moment?
Daniel
You can check it out on our site: https://cyclos.io/
We have USDT-USDC and CYS-USDC pools live
Daniel
we’ll be launching more shortly
Jonah 🏅🎹
| Satoshi Club
Great
Jonah 🏅🎹
| Satoshi Club
Thank you for your answers
Robocop | Satoshi Club
Thank you for the answer
Jonah 🏅🎹
| Satoshi Club
Are you Ready for the next question now?
Daniel
yep
Robocop | Satoshi Club
Q3 from Telegram user @QuianaV
Cyclos proudly officially introduced CycloSwap, the most advanced swap interface on solana. Can you explain more on CycloSwap and its unique advanced features that makes it different from traditional Swapping applications/Dapps? Are users required to hold the any tokens in order to use CycloSwap? How many swapping Pairs does Cyclos Swap currently supports? Can you share on how cost effective is CycloSwap in terms of gas fees consumed during swapping?
Daniel
Our new swap CycloSwap is live on our concentrated pools. I
don’t know the exact amount of gas it consumes, but it is around a few cents.
Right now as just mentioned, we have USDC-USDT and our native token CYS-USDC.
We will be adding more pairs soon with the release of our audit report. What
makes CycloSwap different is that it uses concentrated liquidity pools to
conduct swaps, rather than the old style pools which are much less efficient
Jonah 🏅🎹
| Satoshi Club
How many audits have you done?
Daniel
We’re doing 1. We’ve conducted extensive testing on the
product as well.
Robocop | Satoshi Club
beside Cycloswap, what other feature that you will have in the near future ? how about
NFT ?
Daniel
Our liquidity positions are actually NFTs.
In the future, we will implement staking for these NFT
positions
Jonah 🏅🎹
| Satoshi Club
Awesome
Jonah 🏅🎹
| Satoshi Club
Thank you for your answers
Ready to proceed to the next question?
Robocop | Satoshi Club
Thank you for the detail answer, do you want to add
something or we can go to next question?
Daniel
next question works
Robocop | Satoshi Club
Q4 From Telegram User @Modrumz120
From Cyclos website, i learnt that Liquidity providers place their assets at price intervals of their choice i.e. “concentrating” their liquidity. Concentrated Liquidity gives liquidity providers total freedom in how they distribute their liquidity and rewards them for meeting market demand. I’m curious to know,who are these liquidity providers and can a user be able to be a liquidity provider too?What are the requirements needed for users to be able to become liquidity providers in the Cyclos platform? What are other benefits which liquidity providers can benefit from in the Cyclos eco-system? Thank you.
Daniel
Great question. Liquidity providers are anyone- you, me, any
crypto holder can provide liquidity. All that means is if you have some assets
in your wallet that aren’t earning, and you want to put them to work, you can
“provide liquidity”. Other traders come to Cyclos and want to
exchange, for example, USDT to USDC. If there is no liquidity there inside the
Cyclos program, we can’t offer them a trade. That’s where liquidity providers
come in. Anyone with USDC and USDT can open up Cyclos, (https://app.cyclos.io),
click on “pool”, and add their assets in a specific price range. In
the case of USDT-USDC it’s easy to select the price, because these two assets
tend to remain around $0.98 and $1.01. Your assets will sit in the protocol and
as traders come, they will be used to meet swap demand. As your assets are
traded back and forth, you will earn a fee as a reward for providing liquidity.
In addition to the fees, we will also be launching liquidity
mining. This will allow LPs (liquidity providers) to earn an extra incentive in
CYS on top of the fees they collect as a reward for providing liquidity.
Jonah 🏅🎹
| Satoshi Club
Well detailed
What percentage of the fees do you distribute to liquidity
providers?
Daniel
60% of all fees go to them
Robocop | Satoshi Club
if we provide liquidity, does it have penalty if we want
take it back or we can take anytime we want? i mean do we need time contract
(for example 1 year) to provide liquidity?
Daniel
There is no penalty. That’s why the low gas fees of Solana
are so important. Let’s say you provide liquidity on SOL-USDC between $80-$90
USDC/SOL, and the price suddenly drops. You can change your position so that
now your liquidity is in the right price range.
Of course, you could also spread the liquidity out more
thinly from the beginning in a wider range, but if the price of SOL remains
fairly stable, you won’t earn as much because you will have some idle assets.
Jonah 🏅🎹
| Satoshi Club
Thank you for clarifying this
Daniel
for sure
Jonah 🏅🎹
| Satoshi Club
Ready for the 5th question now?
Daniel
yessir
Robocop | Satoshi Club
Thank you for the detail answer
Robocop | Satoshi Club
Q5 From Telegram User @Ritshimwa
Cyclos recently introduced the Cyclos evangelist program to attract newcomers and Promote Cyclos. Can you explain on Cyclos Evangelist Program and functions of users who apply and are selected as Cyclos Evangelist? What are the benefits, incentives which Cyclos Evangelist are entitled to as they promote the Cyclos Platform? What are other future strategies by the Cyclos Platform in order to create more awareness about the Cyclos Platform?
Daniel
Yes sure. So anyone from the community can apply to be an
evangelist. We recently opened up a form for expressions of interest to gauge
how much enthusiasm there is from the community. There is a lot of enthusiasm
luckily
The whole idea behind the evangelist program is that we want
to draw on our community to help explain to others in their own languages how
to take advantage of the Cyclos product- i.e. how to conduct trades and
importantly, provide liquidity. As you have probably noticed from this AMA,
liquidity provision is a concept not many people are familiar with (even though
it’s a great way to earn on your assets) so we want to spread that message out
as much as possible.
The content with the best quality and highest social media
reach each month will be rewarded with CYS tokens.
Daniel
We will be releasing the details of that as soon as new
pools are live
Jonah 🏅🎹
| Satoshi Club
Great.. do you have a targeted number of evengelists in
mind?
Robocop | Satoshi Club
why its name Evangelist ? its take from evangelion ?
Daniel
Evangelist is an English word for person that spreads a
message
Robocop | Satoshi Club
oh haha ok thank you for the explanation
Robocop | Satoshi Club
@oxHantu how about this ? do you have target for Evangelist
? how many Evangelist do Cyclos want to have?
Daniel
We don’t have a target. As many as possible
Jonah 🏅🎹
| Satoshi Club
Great..
Robocop | Satoshi Club
Thank you for the answer
Jonah 🏅🎹
| Satoshi Club
Let’s proceed to the last question for this part
Robocop | Satoshi Club
Q6 From Telegram User @jameslekan664
Hello!
Security is of Paramount importance for every DeFi project because this tends to give users a high level of trust in the project. Going through your road map, one of the objectives listed for last month being January is to begin the bug bounty program and that caught my attention. Can you elaborate on your bug bounty program? As a hacker that wants to participate, what criteria must be met? Is the program currently ongoing and how can I participate? What rewards will the bug hunters get?
Daniel
There are no specific criteria. We will be open sourcing the code, and will release the details of rewards for different types of bugs. There will be a range of rewards depending on the type. If you are interested in participating, please follow us on Twitter: https://twitter.com/cyclosfi and Telegram https://t.me/cyclosofficial
Jonah 🏅🎹
| Satoshi Club
Has the date for this been announced?
Daniel
not yet
Robocop | Satoshi Club
Thank you Daniel ! it has been an amazing time in this first part of the AMA
Jonah 🏅🎹
| Satoshi Club
Thank you for your answers so far
We will now proceed to the second part of our AMA
Our users are eager to ask you their questions directly
Jonah 🏅🎹
| Satoshi Club
Are you ready for them?
Robocop | Satoshi Club
Before we open the chat, can you please share the important
link or social media
Part 2 — live questions from the Telegram community
Q1 from Telegram user @Murthy_Rajpaksha
I read that You are introducing veCYS feature on platform, What is it for?
Daniel
The idea behind this is to follow a similar governance and rewards structure as set out by Curve Finance on Ethereum. Users will lock their CYS and obtain veCYS. Depending on how long they lock they will receive a higher degree of say in governance decisions.
Q2 from Telegram user @BrayantGonzalez
Regarding the problems that we have seen in the Solana network in recent months, such as congestion and more, could you tell us what measures Cyclos plans to take in this regard? Will they consider migrating to other networks if these problems continue?
Daniel
Well the main thing is we will go multi-chain. That way we are not 100% tied to the ups and downs of any 1 chain. That said, we are not worried about network outages on Solana. The more ambitious your goals are, the more problems you will run into initially, but they will be overcome with time. We believe Solana will be good in the long term
Q3 from Telegram user @kokonutella
How many of your tokens do I need to buy in order to join the governance of the project?
Daniel
Any amount. There is no limit.
Q4 from Telegram user @Nonerlike
Do you have any guide or article for help how to provide liquidity? Also what is the APR if I do staking in your platform?
Do you have any plan to add more pairs in the future apart from USDT-USDC? What are your upcoming priorities?
Daniel
We do. We will be adding more starting around end of next week if all goes according to plan.
Q6 from Telegram user @ghok4386
Currently, NFT is really hot topic now, Do you think you will apply NFT technology to your products in the achieved future??
Daniel
Our LP positions are actually NFTs. We were the 2nd project ever to implement this after Uniswap V3.
Q7 from Telegram user @Marcos2002
As I Was Reading, I Found that You are Planning to Introduce the CYCLOS DEVNET , May I know More about the CYCLOS DEVNET , Please tell me Some Unique Features ?
Daniel
We are already on Mainnet
Q8 from Telegram user @Clint_25
Cyclos, is fantastic and has a great potentiality to succeed in the future. Could you please explain how I can invest with Cyclos? Do you have any IDOs or are you in the midst of a presale?
You mentioned that Cyclos will also implement governance. Is this mean Cyclos will be 100% driven community? Or does the team still have a role in making decisions
Daniel
Yes that’s correct. The team will have a say in the governance because there are team tokens, but the project will be progressively decentralized.
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.
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