We were delighted to welcome our guest from Etna. The AMA took place on June 24th, 2021 and our guest was @ETNAowner .<\/p>\n\n\n\n
The total reward pool was 500$ and\nwas divided into three parts. In this AMA Recap we will try to summarize some\nof the most interesting points for you.<\/p>\n\n\n\n
\u041c\u0430ry Satoshi CLUB: <\/strong>Hello Satoshi Club! We are happy to announce our\nAMA session with Etna! Welcome to Satoshi Club😀<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>@ETNAowner welcome to Satoshi Club!<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Hello ladies and gentlemen, I am\nglad to be here<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Hello, welcome here 👍<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Thanks for having me<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>How are you today?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Doing great, excited about the\nfuture :)How about you?<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>I am fine, looking forward today’s AMA 🚀<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>We are excited as well for this AMA\nsession😃<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Let’s start it🚀<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>I just wonder when platforms like\nyours will migrate to AMAs on voice chats<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>that will be an interesting approach\n\ud83d\ude42<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>sure<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>We are thinking about this, but let’s see😀<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Shola, could you please introduce yourself and\ntell us more about Etna?😀<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>will gladly… My name is Shola, I\nam the co-founders of ETNA Network.<\/p>\n\n\n\n My\nbackground is in applied sciences, I have master\u2019s degrees in both Mechatronics\nengineering and Mathematics. I live in the United States.<\/p>\n\n\n\n I got into\ncrypto full-time in late 2016, initially just as a trader. After about a year\nof trading, I decided to start working on some of my innovative ideas.<\/p>\n\n\n\n 3 plus\nyears later, here I am, building ETNA Network up from the ground.<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>So, you were working on Etna for three years?\nWere you alone or you had a team of like-minded people?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Simply put, ETNA Network is a\nBlockchain project focused on developing an ecosystem for interconnected crypto\nproducts, mainly in DeFi, gaming and NFT. Our mission is to develop a\nuser-centered, one stop ecosystem for all things crypto. A platform where even\nthe inexperienced can easily interact with blockchain\/crypto products\/techs\nsuch as lending and borrowing, NFT marketplace\/tools and a blockchain gaming\ninfrastructure.<\/p>\n\n\n\n Link to\nwebsite: https:\/\/www.etna.network\/<\/p>\n\n\n\n Link to\nwhitepaper: https:\/\/www.etna.network\/assets\/ETNA.pdf<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>No, the journey started in March\n2021,<\/p>\n\n\n\n ETNA\nNetwork launched on the Binance Smart Chain in March of 2021. The launch\ncombined the rebranding of a gaming\/NFT project and the expansion into DeFi\ntype features.<\/p>\n\n\n\n We were\nable to launch on BSC starting with a successful IDO on the 20th-21st of March\n2021.<\/p>\n\n\n\n Since then,\nthe project has attracted the support of numerous community members and we have\ndeployed two main products as will be described below.<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Before then, I was more of focused\non research and development of the ideas surrounding ETNA<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>You had rebrand? Did you rebrand your previous\nproject or how you did it? Can you explain, please?😀<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Sure, the parent project started in\nSep. 2020. It was a project that was\nfocused on just gaming and NFTs. When we came up with the idea of developing a\nplatform that integrates gaming and NFT to DeFi, we decided to give it a more\nbefitting name and one that encompasses all the features<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>It’s an honor to have you here\nShola, great background<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>It was a good decision 👍<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>Then how did you choose the name and\ncurrent logo?<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Why Etna?😀<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>As some of us here know, we are\nactually the first project that has been able to integrate the use of NFT as\ncollateral for loans, the motivation is the development of a lending and\nborrowing platform that accepts all types of digital assets<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>NFT with real usecases, that’s great👏<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>As our ideas were motivated from\nGreek mythology, it was a no brainer to keep that lineage<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Also, the game been developed is\nalso motivated by greek mythology as we will all see when it goes live<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>So, no one will stand on your way😀<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>exactly \ud83d\ude42<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>We will talk about this a bit later, when you\nwill answer the questions from our community 😉 btw, are you ready for them?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>sure<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>Let’s go<\/p>\n\n\n\n Q1\nfrom Telegram User @giovannialc<\/em><\/strong><\/p>\n\n\n\n I\nunderstand that when making a loan, interest will be charged using any token,\nbut using the ETNA token interest will not be charged, why does this happen,\nwhat kind of benefits will they have when making loans in ETNA token not to\nproceed to collect said interest? Will the $ ETNA token be acquired through\nloans or through some kind of sale? Will they have a white list and what should\nbe done to be inside?<\/em><\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>correct, users can use any of the\nsupported tokens\/coins as collateral for loans and interests are charged in\nwhat ever asset that the user borrows except when ETNA or ETNA’s NFTs are used\nas collateral. We value our supporters and holders of our assets hence it was\nlogical to make this exception for them<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>So as you can see, holders of ETNA\nand NFTs can take interest-free loans forever :). Again first of its kind in\nthe crypto space<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Which coins do you currently support?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>BNB, ETNA, BUSD, USDT, DAI, ETH and\nBTC. All on BSC<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Do you have any statistics how many loans were\nalready taken?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>we plan to integrate more soon\nthough<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>Which benefits will you provide for\nlong term holders?<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Cool👍<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>yes, you can see that on the\nplatform at http:\/\/debank.etna.network\/<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>But so far, we have had over $150k\nin loans and about $55k in loans that are still active<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>Why only BSC? Do you plan to include\nmore chains?<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Nice numbers 👍<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>As ETNA is a multi usecase token, holding\nETNA and our NFTs has much value. The more people use the features we have, the\nscarcer the tokens get hence growth in price<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>it was best to go with BSC first, we\nare currently working on deploying on other chains like Polygon. our NFT\nmarketplace will be deployed there soon<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>As a matter of fact, in the not so\ndistant future, ETNA will be a multi chain platform, it will be compatible with\nall the major chain.<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Awesome! I see you prepared a lot of news for\nyour supporters 😀<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>Nice job💪<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>thanks, this is actually just the\nbeginning \ud83d\ude42<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>Thanks for your answers, ready for\nthe next question?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>yes<\/p>\n\n\n\n Q2\nfrom Telegram User @DK177<\/em><\/strong><\/p>\n\n\n\n You have\nmentioned that ETNA is the first hybrid liquidity protocol with BBT trading\nfeature. Can you please explain how this model differs from traditional\nplatforms? Further, did you examine possible challenges associated with this\nconcept? For example, did you identify any risks unique to BBT trading? Since\nyou do not have a previous model to follow, are there any plans to face this\nkind of challenges? How can we rely on a new concept?<\/em><\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Yes, the hybrid liquidity protocol\nuses a Broker-Buyer type trading mechanism where the rewards paid out to such\ntrades is a function of the trade…. hence a proof of efficiency consensus\nmechanism<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>Btw, do you have some\nstaking\/farming programs?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>this is not entirely a new concept,\nbut our approach is new. As you have seen from other features that have been\nlaunched, ETNA is not a project that follow or copy other projects, we build\nfrom scratch and with the vast experience our developers have, we ensure that\nour features are optimally developed and secured<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>yes we do, DeBank which can be\naccessed at http:\/\/debank.etna.network\/ has both staking and farming. To stake,\nyou simply deposit your assets and you and done. To farm, you have to STAKE\nPancakeswap LP tokens in the LIQUIDITY-EARN feature within DeBank<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>Excellent info, another green reason\nto invest😃<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Do you plan to add more platforms for staking?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>exactly<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>yes, we are actually developing our\nMobile wallet as we speak. It will be a user-friendly mobile wallet like trust\nwallet but in addition, it will have DeBank and our NFT marketplace embedded<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Super! When do you plan to launch it?😀<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Also, users can actually login to DeBank\nright from trust wallet and can also access it from any mobile wallet that is\ncompatible with wallet connect<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>in couple of months, from the rate\nof development, I think beta version will be ready in Sep. this year<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>We will follow your updates 👍 and definitely will try it!<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Thank you for your answers! Ready to proceed?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>yes<\/p>\n\n\n\n Q3\nfrom Telegram User @Jonahapagu<\/em><\/strong><\/p>\n\n\n\n For the\nfirst quarter of 2022 ETNA plans to Integrate banking services and the issuance\nof Debit cards and inline with this, there is a planned Application for Crypto\nand Banking License in Q2 of 2021, so what kinds of banking services will ETN\nintegrate to its platform, in what regions or country will ETNA be applying for\nLicences, and what forms of services will this licenses cover for\u2026.<\/em><\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>User of ETNA in licensed region will\nbe able to open an actual bank account from ETNA platform, they will also be\nable to apply for a debit card with which one can spend crypto directly. Users\nwill also be able to do fiat to crypto type transactions<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>We are focused on EU for now, so we\nwill be starting with European countries<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>Please, share us your roadmap to\ncheck what else is coming😃<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Did you already apply for license?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>sure, here you go\nhttps:\/\/www.etna.network\/#milestones but there is actually more than is stated<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>yes, we have applied for the first\none. We are processing the second<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Wish you good luck! Sure everything will go as\nyou are planning!<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>Thanks for share it<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>‘Thank you<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Thank you for your answers! Ready to go to the\nnext question?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>sure<\/p>\n\n\n\n Q4\nfrom Telegram user @yusbe22<\/em><\/strong><\/p>\n\n\n\n Regarding the security of ETNA and the users\nwill use some type of KYC or verification for the users who want to be part of\nthe project in order to avoid losses in terms of finances or token, the smart\ncontracts will be audited in some way to make transactions somewhat cleaner?\nWhat do you plan to do so that users feel satisfied by participating in the\ninvestment of the token and DEX exchange?<\/em><\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>How many users actually understand\nthe report of an Audit? I will say only 1%. Auditing is not a way of validating\nthat the application is safe. Instead, we do our due diligence and follow best\npractices while building<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>So, you think that Uniswap, 1inch, which passed\nseveral audits are wrong?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Having said that, we are are not\ngoing to Audit at this time because we intend to protect our IP. but not at the\nexpense of users, we have been making\nsure that our features are secured<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>How can you assure that to users?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>nope, their model is different than\nour. Did Binance exchange do audits and are people using it and do people trust\nit?<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>Good point🤔<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Did Celsius Network present their\ncode and are people using this platforms?<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>So, you can give your users 100% guarantee or\nmay be you have any insurance cover if something will go wrong?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Integrity and trust gets built over\ntime with track record and we will surely get there<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Even a airline company or your\nconventional banks cannot give you 100% guaranty<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>instead I can give you 100% guaranty\nthat we will do 100% of what we can do to make it safe and secured<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>That’s we want to know, thanks😃<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>And so far, we have kept to this\npromise, no one has lost anything while using our features<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Look, let’s talk about Kucoin, they also don’t\ngive any audits. But they recovered users losses. Can you promise that you will\nrecover at least part of losses if force majeure will happen?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Yes we have security mechanisms in\nplace to ensure that funds can be recovered in any of such events<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>That’s great!😀<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>Thanks for the clarification Shola,\nwould you like to add something before the next question?<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Not at this time<\/p>\n\n\n\n Q5\nfrom Telegram user @Asela1112<\/em><\/strong><\/p>\n\n\n\n Focusing\non tokenomics, $ETNA allocated for various purposes such as staking, BBT market\nplace, presale etc. What are the utilized usecases of $ETNA? $ETNA was built on\nbinance smart chain. Most tokens integrate burning mechanism to secure their\ninvestors. But ETNA platform has not been deployed any burning process. Don\u2019t\nyou think, it is much better if you burnt some $ETNA after your presale or\n$ETNA would be a deflationary token? What about the governance of $ETNA? will\nthere be any ownership renouncement in future or do you expect to involve in\nsome critical stages on ETNA platform?<\/em><\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>To start, I will like to make this\nclear, there will be ZERO burning of tokens, Instead we have structured our\nplatform and the utility mechanism for ETNA in such a way that the supply\ndecreases over time. For example, just in 2 months of launching the NFT market,\nover 700k ETNA have been locked up. All the features leads to lockup of certain\namount of tokens. In addition, fees are collected which can easily be burned\nbut instead, they will be used as additional rewards for users in the future<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Also, periodically, we could do\nbuybacks if the need warrants<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>Those tokens will be unlocked? Btw,\ncurrently what are the ways to buy your tokens?<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>You were first 😂<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>No, only if NFTs are sold then a\ntiny fraction is unlocked but just imagine when the marketplace is fully\nfunctional with more features, there will be over 5m tokens locked up of which\nover 10% is charged as fees<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Yes, this would be awesome 👏<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Shola, thank you for your answers! Ready to go\nto the 6th and last question from this part?🚀<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Yes and it is underestimated right\nnow<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>sure<\/p>\n\n\n\n Q6\nfrom Telegram user @NataliyaKil<\/em><\/strong><\/p>\n\n\n\n Currently,\nthere are over 30 NFTs trading on the ETNA Network marketplace, these NFTs\ncomprises of game characters, weapons, secret passages, creatures. Can we see\nthese NFTs, what role they play in the upcoming game and how they will be used?\nAre there any levels for the characters, do they evolve, are there any\nimprovements for the weapons? And when are you planning to launch the game?\nWill it be possible to test the game before the main launch?<\/em><\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong><\/p>\n\n\n\n With all\nthe NFT game assets having their unique features and use in the game, they all\nhave valuable usecase on the game as we will see when we release more info\nabout the game<\/p>\n\n\n\n Shola || I Will Never PM You First: <\/strong>Just to add, we actually have an\nongoing auction that is already at 19,900 ETNA. you can find it at:\nhttps:\/\/nft.etna.network\/auction.html<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club: <\/strong>Great opportunity Satoshiclubbers,\nlet’s check it🥳<\/p>\n\n\n\n \u041c\u0430ry Satoshi CLUB: <\/strong>Btw, i liked your NFTs! They look incredible!<\/p>\n\n\n\n