<\/p>\n\n\n\n
Hello,\nSatoshi clubbers! Another AMA took place in Satoshi Club and we would like to\nintroduce to you the AMA session with our friends from Phuture and our guests\nwere @Charles and @OliverMehr! The AMA took place on 5 July.<\/p>\n\n\n\n
The\nAMA session was divided into 3 parts with a total crypto reward pool of 500$ <\/p>\n\n\n\n
In\nthis AMA Recap, we will try to summarise the most interesting points for you.<\/p>\n\n\n\n
Gold\nRocket | Satoshi Club:<\/strong> Hello again, dear Satoshi Club\ncommunity! We are pleased to announce AMA with Phuture.<\/p>\n\n\n\n Today our guests are\n@Charles and @OliverMehr!<\/p>\n\n\n\n Charles\n| Phuture:<\/strong> Great to be here!<\/p>\n\n\n\n Oliver\nMehr:<\/strong> Thanks for having us.<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> How are you doing?<\/p>\n\n\n\n Oliver\nMehr:<\/strong> Doing well, thank you.<\/p>\n\n\n\n Charles\n| Phuture:<\/strong> Doing great. Things are getting exciting here at Phuture!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>We are delighted to have you here\ntoday.❤️ @Charles and\n@OliverMehr!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Thanks for joining guys!<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> You’re welcome😃<\/p>\n\n\n\n That sounds great🥳<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Let’s start!<\/p>\n\n\n\n Introduce yourself\nplease. How did you get to be involved in crypto & Phuture?<\/p>\n\n\n\n Tell us please about\nyour position in Phuture?<\/p>\n\n\n\n Charles\n| Phuture:<\/strong> Both Oliver and I have worked together for the past\n4.5 years. Prior to Phuture we worked in a partnership capacity at a London VC,\ndeploying capital into crypto-enabled businesses since early 2016. We also made\nsome ICO investments, QuantStamp, Havven (Now Synthetix) are some examples. <\/p>\n\n\n\n We have co-invested\nwith the likes of Alibaba, Google Ventures, Kleiner Perkins etc.<\/p>\n\n\n\n Been focused on Phuture\nfor the past 18 months. As I said before, things are getting exciting!<\/p>\n\n\n\n Oliver\nMehr: <\/strong>My role is head of product at Phuture, working\nclosely with all facets of the development and design team to refine Phuture\nwith the aim of providing the best web3 indexing experience.<\/p>\n\n\n\n Charles\n| Phuture:<\/strong> My role is Head of Growth, I spend my time looking\nat our socials, thinking of growth hacking techniques we can use and everything\nin between.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Great background, guys👍<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Great, so in a nutshell what is\nPhuture?<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> What is the essence of Phuture?<\/p>\n\n\n\n Oliver\nMehr:<\/strong> Phuture is a decentralised platform for the\ncreation and investment of passive index strategies.<\/p>\n\n\n\n In a nut shell, Phuture\nallows anyone to create their own, or invest into an existing passive\ninvestment strategy.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Tell us about the benefits of your\nplatform. How is it different from others?<\/p>\n\n\n\n Oliver\nMehr:<\/strong> We make it simple for investors to obtain exposure\ninto a sector or an entire asset class.<\/p>\n\n\n\n Phuture has been\nredesigned from its foundations to scale and as a result this design allows us\nto turn index creation into an entirely permission-less activity.<\/p>\n\n\n\n Thus, anyone can come\nto the platform and deploy a passive strategy.<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Like staking and farming services?<\/p>\n\n\n\n Oliver\nMehr:<\/strong> All indices, where applicable, are optimised by\npushing assets to yield optimisers such as yearn. Meaning that index investors\nbenefit from the additional yield, improving index performance.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> It’s really important segment of\nthe crypto market!<\/p>\n\n\n\n Also we would like to\nknow about your team. Who is on the project team core?<\/p>\n\n\n\n Oliver\nMehr:<\/strong> Further, Phuture leverages a unique rebalancing\narchitecture that aims to improve index performance by rebalancing assets at\nmore advantageous times.<\/p>\n\n\n\n Therefore, we fully\nexpect like for like indices created on Phuture to perform better than our\ncomps<\/p>\n\n\n\n Charles\n| Phuture:<\/strong> Phuture is redefining the role of an index in a Web\n3.0 environment. The idea that anyone or DAO can come to create an index that\nautomatically rebalances and follows a set of rules e.g. top 10 by market cap,\nis really exciting. <\/p>\n\n\n\n Off-platform yield, as\nOliver mentioned, is a game changer. Phuture is one of the first to be doing\nthis in the crypto index sector. <\/p>\n\n\n\n Unlike other projects\n(not mentioning any names), we are completely product focused. We have spent\nthe time to build something new and not yet seen before<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Thanks for the introduction, we\nwill have a question selected for the Part 1. Ready to start?🚀<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Well, it sounds so interesting, we have\ncollected some community questions to learn more about your project.<\/p>\n\n\n\n Oliver\nMehr:<\/strong> The Phuture protocol manages all rebalancing and\nreweighting actions.<\/p>\n\n\n\n It is literally set and\nforget for the user.<\/p>\n\n\n\n Which is perfect for\nnot just a crypto native audience but also a non crypto native one too.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> I think this has obvious benefits!\n👍<\/p>\n\n\n\n Charles\n| Phuture:<\/strong> This is key. Crypto needs to take away the\ncomplexities. This is what Phuture does for its users.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Mass adoption in action👏👏👏<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> It’s a great advance for the crypto\ntechnology.<\/p>\n\n\n\n Oliver\nMehr:<\/strong> We will saturate the existing investors in crypto\nwho are looking for index exposure fairly quickly.<\/p>\n\n\n\n This means that in\norder to achieve massive growth and scale we need to attract the huge cohort of\nexisting index investors that are looking to attain even a small % of\ndiversified crypto exposure.<\/p>\n\n\n\n Charles\n| Phuture:<\/strong> The Phuture protocol is built for crypto indices.\nThis focus gives us a huge advantage, having designed and built the protocol\nfrom scratch.<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Thanks for the clear introduction about\nthe project guys, would you like to add something before the community\nquestions?<\/p>\n\n\n\n Charles\n| Phuture:<\/strong> We would love to invite everyone to the Phuture\nTestnet Launch Event – https:\/\/phuture-finance.medium.com\/phuture-testnet-launch-event-31bd2dd9c4f1?source=———0—————————-<\/a>\n<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Let’s join Satoshiclubbers.<\/p>\n\n\n\n Charles\n| Phuture:<\/strong> We are also running a PHTR giveaway – https:\/\/gleam.io\/c9PRa\/phuture-testnet-event-giveaway<\/a>\n<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> A lot of rewards🥳<\/p>\n\n\n\n Charles\n| Phuture:<\/strong> It’s all about token distribution 🙂<\/p>\n\n\n\n Into the right hands!<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Thanks for share it with our community,\nSatoshiclubbers don’t loose this big opportunity🥳<\/p>\n\n\n\n Oliver\nMehr: <\/strong>If those rewards weren’t enough, we are also running\na staking program… here -><\/p>\n\n\n\n https:\/\/app.phuture.finance\/staking<\/a><\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> We will have questions from the\ncommunity on this topic and you will have more to tell about😊<\/p>\n\n\n\n Charles\n| Phuture:<\/strong> More incentives will be announced on the 12th of\nJuly! Make sure to tune in to the testnet launch event 🙂<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Let’s proceed<\/p>\n\n\n\n Q1 from Telegram User\n@Shaa93<\/em><\/strong><\/p>\n\n\n\n I\nread in Twitter: \u201cOne of the main risks to the Phuture protocol is onboarding\nassets that present a systemic risk to the platform\u201d, so I think each asset is\nchecked carefully before being whitelisted on the Phuture platform when there\nare so many projects scams and fakes! What solutions does Phuture have to\nfilter high quality, legitimate projects to minimize risk before being\nwhitelisted?<\/strong><\/p>\n\n\n\n Charles\n| Phuture:<\/strong> Yeah, whitelisting of assets is key and something\nthe protocol does. On top of this, the community will be able to pre-select\nindices or newly listed assets that can be incentivised with PHTR<\/p>\n\n\n\n Oliver\nMehr:<\/strong> Phuture’s first line of defence is its token\nwhitelist. We leverage tokenlists, an initiative started by Uniswap which\nallows projects to utilise existing asset lists used by blue chip defi projects\nsuch as compound, aave etc. We take these lists and refine them even further\nfor Phuture’s use.<\/p>\n\n\n\n Assets must have\nsufficient on-chain liquidity<\/p>\n\n\n\n Preferably, they must\nhave a DAO structure with core platform functionality controlled by multi-sig<\/p>\n\n\n\n Reputable teams<\/p>\n\n\n\n Battle tested projects\nthat have stood the test of time.<\/p>\n\n\n\n Appealing to the lindy\neffect.<\/p>\n\n\n\n The Lindy effect\nproposes the longer something has survived the longer its remaining life\nexpectancy is.<\/p>\n\n\n\n This is at the core of\nour asset selection. New assets will be added via community vote<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> First time hearing about “Lindy\neffect” concept.<\/p>\n\n\n\n Charles\n| Phuture:<\/strong> You should join the Phuture Telegram and Discord,\nwe share new concepts and ideas 🙂<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Do you have any token on plans?<\/p>\n\n\n\n It seems that is an\ninnovative community, of course we will join 😁<\/p>\n\n\n\n Oliver\nMehr:<\/strong> We will be launching with 40 assets initially. We\nwill share these assets in due course.<\/p>\n\n\n\n The PHTR is already\navailable to the public and can be found on Uniswap as well as Gate.io<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Thanks for the info. Let’s proceed with\nthe next question😃<\/p>\n\n\n\n Q2 from Telegram User\n@shambulance<\/em><\/strong><\/p>\n\n\n\n Can\nyou tell us a bit about use case of ePHTR? Will it be on circulation? Are you\nplanning a fixed ePHTR to PHTR swap ratio or it will be dynamic in the future?<\/strong><\/p>\n\n\n\n Oliver\nMehr:<\/strong> Firstly, users can only obtain ePHTR by staking\nPHTR<\/p>\n\n\n\n Only ePHTR holders can\nvote via our Snapshot portal.<\/p>\n\n\n\n So ePHTR provides you\nwith voting power<\/p>\n\n\n\n Moreover, ePHTR holders\nare constantly receiving rewards<\/p>\n\n\n\n in the form of PHTR<\/p>\n\n\n\n So the ePHTR\/PHTR\nexchange rate is always increasing in value.<\/p>\n\n\n\n It will remain dynamic\nforever<\/p>\n\n\n\n At the moment rewards\nare coming from the DAO treasury<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> What are the usecases of each token?\nePHTR and PHTR.<\/p>\n\n\n\n Oliver\nMehr:<\/strong> In the future, protocol fees will also be distributed\nto ePHTR holders as well.<\/p>\n\n\n\n ePHTR = governance\ntoken and yield bearing variant of PHTR. <\/p>\n\n\n\n PHTR = access to\ngovernance token, must be bonded by off-chain solvers to perform core platform\nfunctions and will provide access to additional features of the platform in the\nfuture.<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> What is the APR and what is the minimum\namount of tokens needed to stake?<\/p>\n\n\n\n Oliver\nMehr:<\/strong> Currently ePHTR holders are earning an APY of 30%<\/p>\n\n\n\n no minimum<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Wow, a big percentage.<\/p>\n\n\n\n Charles\n| Phuture:<\/strong> In the upcoming launch event we will be introducing\na new liquidity mining program for the PHTR token. Another incentive to buy and\nhold PHTR \ud83d\ude42<\/p>\n\n\n\n PHTR plays a critical\nrole within the Phuture protocol<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> agree! the benefit is obvious👍<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club: <\/strong>Yes, another great reason to Hodl😁<\/p>\n\n\n\n Thanks for the\nexplanation guys, ready for the next question?<\/p>\n\n\n\n Let’s go😃<\/p>\n\n\n\n Q3 from Telegram User\n@Asela1112<\/em><\/strong><\/p>\n\n\n\n Focusing\non tokenomics, you have incurred three types of fees calles Redemption fee,\nYield fee & AUM fee. Please explain what\u2019s the purpose of fees mentioned\nabove & why did you integrate 3 types of fees? Where does this fee goes? Is\nit for the users or marketing purposes?<\/strong><\/p>\n\n\n\n I\ndidn\u2019t see about burning mechanism of $PHTR except burning of the redemption\nfee. And also you have said about perpetual inflation up to a maximum rate of\n3% per annum. So how will you control inflation rate of $PHTR without a proper\nburning mechanism? Also $PHTR involve as a governance right of the stakers\n& holders. How will franchise vote system work in Phuture platform? Will\nyou renounce the ownership of Phuture platform to make a DAO System?<\/strong><\/p>\n\n\n\n Oliver\nMehr:<\/strong> Great question<\/p>\n\n\n\n Firstly, once we take\nthe fee it is transferred to a fee contract.<\/p>\n\n\n\n Next the funds are used\nto buy back PHTR tokens<\/p>\n\n\n\n We then burn 20% of\nthose tokens.<\/p>\n\n\n\n The remaining 80% is\nredistributed into ongoing Phuture initiatives such as liquidity mining,\nmarketing, user acquisition, staking, community programs etc<\/p>\n\n\n\n Redemption fee is taken\nin PHTR for redeeming an index<\/p>\n\n\n\n Yield fee is taken from\nthe yield we generate in off platform locations like yearn.<\/p>\n\n\n\n AUM fee is an ongoing\nfee we take on the total assets held in the system.<\/p>\n\n\n\n All fees are reinvested\nback into the ecosystem or distributed back to token holders.<\/p>\n\n\n\n The PHTR token contract\nhas the ability mint additional tokens. Before any new tokens are minted a\nthorough governance proposal and vote would need to be conducted.<\/p>\n\n\n\n A max of 20mm PHTR can\nbe minted at once. Although we are not expecting to have to mint more tokens.<\/p>\n\n\n\n The reason we included\nthe option to mint more is to ensure that should we need to continue incentivising\nthe ecosystem, we have the ability to do so.<\/p>\n\n\n\n I think other projects\ncan run into issues with a hard cap where their ecosystem is not at the stage\nwhere it is self sustainable and they dont have the ability to mint additional\ntokens to incentivise growth.<\/p>\n\n\n\n We wanted to avoid that\nsituation happening to us.\/<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Clear explanation, thank you<\/p>\n\n\n\n Btw, how can you assure\nthat user’s funds will be safe? Have you done audits?<\/p>\n\n\n\n Oliver\nMehr:<\/strong> We are having our contract code audited by\nQuantstamp.<\/p>\n\n\n\n Charles\n| Phuture:<\/strong> The CEO of QuantStamp is an investor in Phuture.\nWho knows, maybe there will be a QuantStamp index soon?<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Congratulations, that’s a recognized brand<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Who knows? 😊 But this is\ndefinitely a good sign! 👍<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Of course will be a great deal 😁<\/p>\n\n\n\n Let’s proceed with the\n4th question, time to know about the great event coming😁<\/p>\n\n\n\n Q4 from Telegram User\n@yellowchamp<\/em><\/strong><\/p>\n\n\n\n Phuture\nwill have a \u201cPhuture Testnet Launch Event\u201d this coming 12th of July in which\nthis event will be showcasing the Phuture testnet and the upcoming liquidity\nmining program. So as a hint for everybody,can you share some advance idea for\nyour upcoming Liquidity program? What would be its mechanism and structure?\nAside from Liquidity mining program,can you share what else we can expect with\nPhuture Testnet? Are there any airdropping and giveaways upon launching of\nPhuture Testnet? After this Testnet,what is the next steps to be looking\nforward in Phuture? Thank you<\/strong><\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Partially covered😃<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> But I’m sure the guests have\nsomething to add or clarify on this issue.😊<\/p>\n\n\n\n Charles\n| Phuture:<\/strong> Great question. We want to keep the event special\nand save the announcements. What I can say is, expect something exciting not\nonly from the testnet but the liquidity mining program. <\/p>\n\n\n\n We are really excited\nto see how the community reacts to the simplicity and elegance of the Phuture\nprotocol. <\/p>\n\n\n\n