{"id":1686,"date":"2020-09-07T09:24:00","date_gmt":"2020-09-07T06:24:00","guid":{"rendered":"https:\/\/esatoshi.club\/?p=1686"},"modified":"2020-09-07T09:28:30","modified_gmt":"2020-09-07T06:28:30","slug":"sperax-x-satoshi-club-ama-recap-from-04th-of-september","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2020\/09\/07\/sperax-x-satoshi-club-ama-recap-from-04th-of-september\/","title":{"rendered":"Sperax x Satoshi Club AMA Recap from 04th of September"},"content":{"rendered":"\n<p>Today we would like to tell you about the AMA session with our friends from&nbsp;<a href=\"https:\/\/t.me\/sperax\">Sperax<\/a>. The AMA took place on September 4 and our guests were Frida Cai and Zhou Yu.<\/p>\n\n\n\n<p>The total reward pool was $500 and it was splitted into three parts.<\/p>\n\n\n\n<p>In this AMA Recap we will try to summarize some of the most interesting points for you.<\/p>\n\n\n\n<hr class=\"wp-block-separator\" \/>\n\n\n\n<p><strong>PART 1, INTRODUCTION AND COMMUNITY QUESTIONS<\/strong><\/p>\n\n\n\n<p><strong>Serg | Satoshi Club: <\/strong>Our guests today are from <a href=\"https:\/\/t.me\/sperax\">@sperax<\/a> We are glad to see you again in Satoshi\nClub <a href=\"https:\/\/t.me\/FridaCai_Sperax\">@FridaCai_Sperax<\/a> , <a href=\"https:\/\/t.me\/yuzhou87\">@yuzhou87<\/a> , welcome!<\/p>\n\n\n\n<p><strong>Irina K. | @satoshi_club: <\/strong>Hi everyone, we see each other again. &#x1f60a;<\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>Glad\nto be here.<\/p>\n\n\n\n<p><strong>Zhou Yu: <\/strong>Hi guys!<\/p>\n\n\n\n<p><strong>Serg | Satoshi Club: <\/strong>I see you are in a good mood. everything went\nwell lately.<\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>I am. We\njust got invited to speak at Diffusion Digital at Sep 16 with Outlier Ventures.<\/p>\n\n\n\n<p><strong>Irina K. | @satoshi_club: <\/strong>Nice. Congrats, will this be an online or\noffline event?<\/p>\n\n\n\n<p><strong>Frida Cai_Sperax:<\/strong> &#x1f449;<strong> <\/strong><a href=\"https:\/\/diffusion.events\/\">https:\/\/diffusion.events\/<\/a>\nonline.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"1024\" height=\"637\" src=\"https:\/\/esatoshi.club\/wp-content\/uploads\/sperax2-1024x637.jpg\" alt=\"\" class=\"wp-image-1688\" srcset=\"https:\/\/satoshi-club.esipick.com\/wp-content\/uploads\/sperax2-1024x637.jpg 1024w, https:\/\/satoshi-club.esipick.com\/wp-content\/uploads\/sperax2-300x187.jpg 300w, https:\/\/satoshi-club.esipick.com\/wp-content\/uploads\/sperax2-768x478.jpg 768w, https:\/\/satoshi-club.esipick.com\/wp-content\/uploads\/sperax2.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>We are\nstoked to announce that Sperax Top Researcher Joe Yu will join Outlier\nVentures&#8217; Diffusion Digital on September 16th at 17:30 &#8211; 18:10 UK time. &nbsp;Joe will speak at &#8220;The drive for Web 3\nadoption&#8221; to give his opinions on the challenge to be solved for web3 to\nprogress.&nbsp; <\/p>\n\n\n\n<p>Mark your\ncalendar and see you there! #sperax #golem #diffusiondigital &#x1f449;&nbsp; <a href=\"https:\/\/diffusion.events\/\">https:\/\/diffusion.events\/<\/a>\n<\/p>\n\n\n\n<p><strong>Q1 from bitcointalk User elissa<\/strong><\/p>\n\n\n\n<p><em>Are you satisfied with sale you had\nin August? are you planning more in the future?<\/em><\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>It was a tough battle for us since\nSperax is still a very small team. We withstood two website crashes due to\ntraffic overflow. But eventually our public sale portal got through the crisis\nand eventually welcomed 3129 new SPA holders, who collectively purchased $4.7M\nworth of 235M tokens. All of these happened within an hour. So you can imagine\nthe thrill. <\/p>\n\n\n\n<p>As for\nself-evaluation, we are not completely satisfied. There are many agendas that\nwe could make them more perfect. But this is how startups work. You learn from\nyour mistakes so you can do better next time. There will definitely be more to\ncome. So stay tuned!<\/p>\n\n\n\n<p><strong>Serg | Satoshi Club: <\/strong>Did you get listed?<\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>Quite a few exchanges are now listing\nus without our permission. An official listing is scheduled at Q4 in 2020.\nUntil then, nothing is official. So we strongly advise investors to take extra\ncaution and be aware of the risks &amp; scams!<\/p>\n\n\n\n<hr class=\"wp-block-separator\" \/>\n\n\n\n<p><strong>Q2 from bitcointalk User Dragon_Super<\/strong><\/p>\n\n\n\n<p><em>Sperax builds trusted infrastructure\nfor decentralized economy, now I already build with ETH solidity and Cosmos\nSDK, Why should I switch to Sperax, what\u2019s your competitive advantage for\nDevelopers?<\/em><\/p>\n\n\n\n<p><strong>Zhou Yu: <\/strong>As a new\ngeneration BFT consensus protocol, BDLS has 2 major advantages.<\/p>\n\n\n\n<p><strong>1. Security. <\/strong><\/p>\n\n\n\n<p>Our Internet is an open network which is best modelled by\nwhat we call a<strong> partially synchronous\nnetwork model.<\/strong> <\/p>\n\n\n\n<p>Previous BFT consensus are designed based on a simpler\nmodel, synchronous network model. Although it is more intuitive and easier to\ndesign blockchain consensus protocols in the synchronous network model, designs\nunder this model can oversee some significant security vulnerabilities since\nthis simple model cannot reflect the reality of our internet. <\/p>\n\n\n\n<p><strong>In contrast, Sperax\nBDLS chooses the more complex and more realistic model when designing and takes\ninto account all potential security vulnerabilities.<\/strong><\/p>\n\n\n\n<p><strong>2. Efficiency. <\/strong><\/p>\n\n\n\n<p>The most common angle to measure efficiency is\n\u201cscalability.\u201d However, there is another important angle from which to evaluate\nthe efficiency of any blockchain system &#8212; <strong>communication\ncomplexity.<\/strong> <\/p>\n\n\n\n<p>Most current BFT consensus blockchains need O(n^2)\ncommunication complexity. Since it is a \u201csquare,\u201d it requires plenty of efforts\nto accomplish the communication task before reaching consensus. Even the\nfastest current BFT consensus needs O(7n) communication complexity, which means\nmultiplying 7 to the input task. <\/p>\n\n\n\n<p><strong>By comparison, BDLS\nconsensus only needs O(4n). This means that BDLS nearly has double the speed of\nthe current fastest BFT consensus in terms of communication complexity.<\/strong><strong><em><\/em><\/strong><\/p>\n\n\n\n<p><strong>Irina K. | @satoshi_club: <\/strong>Maybe you can share with us info about the\nincentives you&#8217;ve prepared to attract developers on Sperax?<\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>We\nnoticed that the current blockchain industry is not for the mass consumer\ngroups. <\/p>\n\n\n\n<p>More specifically, crypto is difficult to integrate with the\nreal economy: It is difficult to onboard users; the token price is chronically\nfluctuating; and a majority of these cryptocurrencies are currencies without\ncurrency features, let alone creating killer apps. Due to the lack of financial\ninfrastructure, the current design principle of public blockchains is to create\na prepaid SaaS model rather than an economy that runs on smart contracts.<\/p>\n\n\n\n<p>After seeing the severe lack of user friendliness, we want\nto overturn this pain point.<\/p>\n\n\n\n<p>At Sperax, we take a layered approach to solve the problem.\nAt the infrastructure layer, we developed BDLS protocol, which is an innovative\nconsensus module that is more secure and efficient than other Byzantine Fault\nTolerant (BFT) protocols. On top of it, we introduced Sperax stable coin system\nsCOIN. It is backed by fiat currency and is the first native stablecoin in\npublic blockchain ecosystem. Developers could build decentralised applications\nwithout worrying about educating users about cryptocurrency. <\/p>\n\n\n\n<p>So essentially: Sperax wants to provide a layer of financial\nservices within the public blockchain stack through a native stablecoin and\ndecentralized financial service providers.<\/p>\n\n\n\n<p><strong>Q3 from Telegram user\n@michaelaelf<\/strong><\/p>\n\n\n\n<p><em>I am very glad you\ncame back in Satoshi Club to present your updates. What new happened since the\nlast AMA here?<\/em><\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>Yes, let me share some major updates.\nAs for testnet, we have made great progress in the implementation of Sperax\nblockchain (testnet is part of the whole implementation plan). Since BDLS\nconsensus is THE MOST important part of Sperax blockchain, we first work on it.\nWe finished all the codes and comments three months ago. There are over 5000\nlines of codes. \ud83d\ude42<\/p>\n\n\n\n<p><strong>Serg | Satoshi Club: <\/strong>5000 lines of codes is complex. everything\nworks smoothly?<\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>Then we worked on the rest of the\nsystem. This was easy. And after this, we have been working on integrating BDLS\ninto the framework. So basically, first BDLS, then the rest of the framework,\nand we started integrating them together three months ago. <\/p>\n\n\n\n<p>We thought\nit might be as easy as the second implementation task. But it proves to be a\nbit more difficult. Fortunately, it is not too difficult that we have to give\nup the project. <\/p>\n\n\n\n<p>Yes. We made\nit. We already finished all integration codes right now.<\/p>\n\n\n\n<p>The current\ntask is many many many many local testings first and then again many many many\ntestings on our testnet. Also, this is the reason why we need a testnet btw. Lastly,\nI think many here are most interested in when testnet will be launched. <\/p>\n\n\n\n<p>We are now\nlocally testing for two economic parameters that cannot be easily changed after\nlaunch. So we built an econ model and are currently locally testing for them. After\nwe figure these two parameters out, we will launch our testnet. After the\ntestnet, we will launch SPA (our token) wallet and sCOIN (our stable coin).<\/p>\n\n\n\n<p><strong>Irina K. | @satoshi_club: <\/strong>Nice. What about other developments?\nSome non-technical insights?<\/p>\n\n\n\n<p>On the\nmarketing side, we will announce official partnerships with other projects\n&amp; universities, and developer grants program.<\/p>\n\n\n\n<p><strong>Q4 from Telegram user @nata_jakarta<\/strong><\/p>\n\n\n\n<p><em>Please explain the DLS\nand its partial synced networks. I am not really a tech guy and didn&#8217;t quite\nunderstand its function.<\/em><\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>During the early 80s, Lamport,\nShostak, and Pease initiated the study of reaching consensus in face of\nByzantine failures and designed the first Byzantine Fault Tolerance (BFT)\nprotocol for synchronous (sync) networks. <\/p>\n\n\n\n<p>But since practical open networks, such as the Internet, are\nnormally not sync, researchers started to look for BFT protocols for async\nnetworks. In 1985, Fischer, Lynch, and Paterson showed that there is no\ndeterministic protocol for the BFT problem in the face of a single failure in\nan async network.<\/p>\n\n\n\n<p><strong>Serg | Satoshi Club: <\/strong>Have you studied the history of IT? \ud83d\ude42<\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>After this setback, researchers sought\nto model our Internet as a partial sync network instead of complete async. With\nthis motivation, Dwork, Lynch, and Stockmeyer (DLS) introduced two types of\npartial sync networks (Type I and Type II) and proposed the first DLS BFT\nprotocol for Type II in 1985. DLS protocol has an authenticator complexity of\nO(n^4) and it is not practical.<\/p>\n\n\n\n<p>I did not until I joined Sperax.&nbsp; I am not tech-bright and learning slow but\nJoe has been helping me. Since then, researchers have been trying to propose\nmore efficient BFT protocols in Type II partial sync networks.<\/p>\n\n\n\n<p>DLS protocol leverages a star network, where participants\nonly exchange messages via round leaders. By adopting a meshed network (that\nis, allowing all participants to broadcast their messages to all other\nparticipants), Practical Byzantine Fault Tolerance (PBFT) protocol was able to\nachieve consensus with reduced round complexity. <\/p>\n\n\n\n<p>By leveraging the lock-mechanisms in PBFT\/Tendermint BFT\nprotocols and changing the mesh network back to star network, HotStuff\nBFT\/LibraBFT achieves consensus with reduced communication complexity but\nincreased round complexity.<\/p>\n\n\n\n<p>Until most recently, Wang carried a careful analysis of all\nthese BFT protocols for Type II networks and designed the BDLS BFT protocol (B\nstands for blockchain) with both reduced round complexity and reduced\ncommunication complexity. And that is the origins of DLS, BDLS and what partial\nsync network is.<\/p>\n\n\n\n<p><strong>Serg | Satoshi Club: <\/strong>Wow, a really nice presentation from the\nbeginning until present times.<\/p>\n\n\n\n<p><strong>Irina K. | @satoshi_club: <\/strong>A 101 intro for Satoshi Club members. Thank\nyou very much. &#x1f60a;<\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>I am a strategy girl who used to be a\ndata journalist and is learning tech now. I just opened a channel with Joe. The\nfirst series is about DeFi and the first review we did is uniswap. <a href=\"https:\/\/medium.com\/sperax\/fj-crypto-channel-defi-series-ep-1-uniswap-where-joe-lost-his-tokens-5aed5bfeea0e\">https:\/\/medium.com\/sperax\/fj-crypto-channel-defi-series-ep-1-uniswap-where-joe-lost-his-tokens-5aed5bfeea0e<\/a>\n<\/p>\n\n\n\n<p><strong>Serg | Satoshi Club: <\/strong>So, what&#8217;s the summary of this review?<\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>A grumpy researcher lost his tokens\non Uniswap. You can read the rest yourself. &#x1f609;<\/p>\n\n\n\n<p><strong>Q5 from Telegram User @Alika061<\/strong><\/p>\n\n\n\n<p><em>Sperax aims to make\ndecentralized financial services accessible to all global citizens. That\nincludes people who have no idea about crypto nor blockchain, how easy would be\nfor them to use Sperax?<\/em><\/p>\n\n\n\n<p><strong>Frida Cai_Sperax:<\/strong> It is impossible for me to give a\nnumeric rubric here about how easy it would be. But we aim to make a\nfrictionless financial service globally inclusive.<\/p>\n\n\n\n<p>Our ultimate goal is to integrate decentralized financial\nservices into the real world traditional financial world by issuing our\nstablecoin sCOIN and working with regulated financial service providers and\nOTC. It is very difficult to completely disrupt the traditional one, let\u2019s be\nhonest here.<\/p>\n\n\n\n<p>But a stable coin is indeed capable of solving many\nlong-existing problems in our world, like we all know how troublesome it is to\nmake a cross-border transaction.<\/p>\n\n\n\n<p><strong>Irina K. | @satoshi_club: <\/strong>Well at least the process can be started.<\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>It might sound insane that we aim to\nbuild a layer one infrastructure, but this is our vision. And it will take a\nstep-by-step approach to build it and our ecosystem. So we hope you, our\nfriends and investors, can grow together with us.<\/p>\n\n\n\n<p><strong>Q6 from Telegram User @stekbyte<\/strong><\/p>\n\n\n\n<p><em>How many developers are\ncurrently working on the project?<\/em><\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>the dev team is around 10. We are\naggressively recruiting right now with the fund we raised at the August public\nsale. So you think you would be a good fit.<\/p>\n\n\n\n<p><strong>Irina K. | @satoshi_club: <\/strong>What&#8217;s the requirements?<\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>I will post JDs for 5 positions in\nour announcement channel soon after this AMA ends. <a href=\"https:\/\/t.me\/sperax_Announcement\">https:\/\/t.me\/sperax_Announcement<\/a><\/p>\n\n\n\n<p><strong>PART 2, TELEGRAM COMMUNITY LIVE\nQUESTIONS<\/strong><\/p>\n\n\n\n<p>The\nchat was open for 80 seconds; a lot of questions were posted by Satoshi Club\ncommunity. Our guests chose some of them. <\/p>\n\n\n\n<p><strong>Q1 from Telegram User @adityaaryah<\/strong><\/p>\n\n\n\n<p><em>You had an AMA here, last month and\nnow you are here again, and I notice you had a lot of AMAs in different groups,\nhow has this helped Sperax positively?<\/em><\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>Sperax used to spend time only our\ntechnology development and overlooked our marketing. Now we realize the\nimportance of community engagement that would also be beneficial to our\ninvestors in a long run. So any sound is better than no sound, right? We simply\nhope more people could know about us, our technology, our vision, etc.<em><\/em><\/p>\n\n\n\n<p><strong>Q2 from Telegram User @Sazibur<\/strong><\/p>\n\n\n\n<p><em>DeFi is one of the\nhottest topics in the blockchain field. Can you share your opinion about DeFi\nwith us? Do you think DeFi will destroy the existing financial system? What&#8217;s\nyour project Approach towards DeFi?<\/em><\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>DeFi is definitely a very hot topic\nright now. I mean both capital-wise and project-wise. We saw the Total locked\nvalue in DeFi has skyrocketed from only 1B in June to 6.5B a few days ago.\nAlso, we saw many both innovative and exciting projects like Compound,\nBalancer, Syntentix and recently Aave.<\/p>\n\n\n\n<p>However, DeFi now has a big problem. It is generally just not\nready for mass adoption. Specifically, there are three reasons: high frictions,\nslow speed, and lack of regulation. These three pain points are what we try to\nsolve by our Sperax solution. <\/p>\n\n\n\n<p>Facing this problem, we bring our solution: Sperax public\nblockchain with BDLS consensus and a new financial design. By BDLS, we provide\na better infrastructure that can significantly reduce friction and enhance speed.\nBy the new financial design, we invite regulators to participate in our\necosystem.<\/p>\n\n\n\n<p><strong>Q3 from Telegram User @MsHuong206<\/strong><\/p>\n\n\n\n<p><em>Sir your project has\nany are direct competitors, what sort of trends or obstacles do you think need\nto be overcome in order for Sperax to capture more market share?<\/em><\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>The obstacle for us right now is to\nexpand the team lol. We are severely short-handed. But still we value quality\nover quantity. We only want the best in the industry.<\/p>\n\n\n\n<p><strong>Q4 from Telegram User @gunja11<\/strong><\/p>\n\n\n\n<p><em>In the bad situation of\nthe Covid-19 epidemic, every industry was heavily affectedDoes it affect on the\ngrowth of your project team and its? What are your plans to turn challenges\ninto opportunities for #project DEVELOPMENTS?<\/em><\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>Yes, we are supposed to open a lab in\nGermany this year, but then COVID happened. However, it not only poses a\nserious threat to CeFi but further creates a window for decentralized finance,\nwhich is the exciting boat we are on right now.<\/p>\n\n\n\n<p><strong>Q5 from Telegram User @chunhocxitrum<\/strong><\/p>\n\n\n\n<p><em>Your slogan is\n&#8220;Sperax builds TRUSTED infrastructure for decentralized economy&#8221;. But\nbuilding &#8220;Trust&#8221; in business is very difficult, so what will Sperax\ndo to attract more users while there are too much successful projects with same\nyour mission in crypto industry?<\/em><\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>I agree trust is difficult to build.\nAnd I also think if you have formed or are forming trust with someone or some\nentities, you would know that trust takes time. Now Sperax team has not done\nanything to scam anyone or rip off any investors. We focus way too much on\ntechnology that our marketing effort is even imbalanced as a result. So if you\nwill, please grow with us and realize our vision together.<\/p>\n\n\n\n<p><strong>Q6 from Telegram User @endtimeprophet<\/strong><\/p>\n\n\n\n<p><em>What critical problems\ndoes Sperax solve that existing solutions are not solving?<\/em><\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>Security and performance are hard to\nbalance: <\/p>\n\n\n\n<p>1 Proof of Work systems sacrifice performance for security.<\/p>\n\n\n\n<p>2. Proof of Stake consensus have security flaws in protocol\ndesign: Most BFT protocols are not secure under asynchronous networks.<\/p>\n\n\n\n<p><strong>Q7 from Telegram User @abowhasebe<\/strong><\/p>\n\n\n\n<p><em>Can you share your\nexperience and journey with the Sperax project? What is the biggest achievement\nyou are proudest of?<\/em><\/p>\n\n\n\n<p><strong>Frida Cai_Sperax:<\/strong><em> <\/em>I was a data\njournalism student at Columbia University Graduate School of Journalism when I\nfirst heard about the chance to join Sperax. Blockchain has always been a\nmysterious topic for me. Sensibly, I run away from learning new technology, But\nrationally, I know this is the future. So I took the offer and now I am so\nproud of myself still being here and learning new knowledge every single day.<\/p>\n\n\n\n<p><strong>Q8 from Telegram User @warny<\/strong><\/p>\n\n\n\n<p><em>Why did you choose to build\nBDLS consensus over TENDERMINT BFT despite being more popular and used by many\nprojects?<\/em><\/p>\n\n\n\n<p><strong>Frida Cai_Sperax:<\/strong><em> <\/em>Tendermint\nBFT is a BFT protocol developed by the Tendermint team: Tendermint BFT is\ncommonly used to achieve consensus in Proof-of-Stake (PoS) blockchains. <\/p>\n\n\n\n<p>Tendermint BFT has been used by many interesting projects\nsuch as Cosmos blockchain, Oasis Labs, and Binance DEX. According to recent\nstatistics, Tendermint BFT is used by around 40% of PoS blockchain systems.\nTendermint BFT works under a partially synchronous network as we have previously\nexplained the term. Tendermint\u2019s protocol consists of 3 steps at each block\nheight: propose, prevote and precommit, where the initiator of each round is\ndetermined by a public function. <\/p>\n\n\n\n<p>The problem is, if a malicious node becomes the initiator of\nthe round, it can successfully carry out an attack so that each node in the\nblockchain network will lock a different value before the GST is reached. <\/p>\n\n\n\n<p>And, these locked values cannot be removed even after GST.\nThus, the whole system goes into a deadlock. So in short, Tendermint BFT cannot\nguarantee the liveness property required for any secure blockchain system. That\nis, a malicious group can successfully launch an attack to Tendermint BFT network,\nlead the whole system into a deadlock, and no new block will be produced.<\/p>\n\n\n\n<p><strong>Q9 from Telegram User @gunja11<\/strong><\/p>\n\n\n\n<p><em>You guys are doing\nAma&#8217;s in all group &amp; almost answering same types of questions again n\nagain? How do You feel about it?<\/em><\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>If one AMA can get help us make only\nfive community members onboard, it is worth it. No effort is a waste.<\/p>\n\n\n\n<p><strong>Q10 from Telegram User @tv100029<\/strong><\/p>\n\n\n\n<p><em>How can I use $SPA as a\npayment Token? What are its usecases and main functions?<\/em><\/p>\n\n\n\n<p><strong>Frida Cai_Sperax: <\/strong>SPA is the utility token in the\nSperax blockchain just like ETH in the Ethereum blockchain. It ensures the\neconomic incentives for participants in the BDLS consensus. It also reflects\nthe network value for Sperax. <\/p>\n\n\n\n<p>As users join the Sperax network, they could earn SPA as they\nrun nodes and validate transactions. Similar to other public blockchain, gas\nfees are collected in SPA as transactions happen on the Sperax blockchain.\nMoreover, SPA is also the governance token for the protocol.<\/p>\n\n\n\n<p><em>Use cases:<\/em><\/p>\n\n\n\n<p>1. Xiaomi Financial Virtual Bank with full licenses\nauthorized by Hong Kong Monetary Authority Proposed Sperax stablecoin for the\nfollowing uses cases: Use the fiat gateway and accept cash equivalent; Support\ncross-border transactions based on the stable coin network and offer more competitive\nrates<\/p>\n\n\n\n<p>2. A Sand Hill Road based Venture Capital: Tokenize its\nemerging crypto-focus fund: Integrate its mobile gaming portfolio companies on\nSperax networks<\/p>\n\n\n\n<p>3. A costume martial-arts TV series, The Untamed, with 8\nbillion views on Netflix and WeTV: Tokenize its worldwide fan meet-ups and\nconcerts tickets; Tokenize celebrity merch\u2019s online marketing places.<\/p>\n\n\n\n<hr class=\"wp-block-separator\" \/>\n\n\n\n<p><strong>PART 3, QUIZ AND INFO<\/strong><\/p>\n\n\n\n<p>As usual, for the third part, Satoshi\nClub Team asked the chat 4 questions about Sperax. A link to a Quiz form were\nsent into the chat. Participants had 10 minutes to answer. 300$ were distributed\namong winners.<\/p>\n\n\n\n<p><strong>For more information and future AMAs, join our\nSocial Media channels: <\/strong><\/p>\n\n\n\n<p>English\nTelegram group: <a href=\"https:\/\/t.me\/Satoshi_club\">https:\/\/t.me\/Satoshi_club<\/a> <\/p>\n\n\n\n<p>Russian\nTelegram group: <a href=\"https:\/\/t.me\/satoshi_club_ru\">https:\/\/t.me\/satoshi_club_ru<\/a> <\/p>\n\n\n\n<p>Spanish\nTelegram group: <a href=\"https:\/\/t.me\/satoshi_club_spanish\">https:\/\/t.me\/satoshi_club_spanish<\/a> <\/p>\n\n\n\n<p>Telegram\nChannel: <a href=\"https:\/\/t.me\/satoshi_club_channel\">https:\/\/t.me\/satoshi_club_channel<\/a> <\/p>\n\n\n\n<p>Website: <a href=\"https:\/\/esatoshi.club\/\">https:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n<p>Twitter:\n<a href=\"https:\/\/twitter.com\/esatoshiclub\">https:\/\/twitter.com\/esatoshiclub<\/a>&nbsp; <\/p>\n\n\n\n<p><strong>Our Partners: <\/strong> <\/p>\n\n\n\n<p>Sperax: <a href=\"https:\/\/t.me\/sperax\">https:\/\/t.me\/sperax<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today we would like to tell you about the AMA session with our friends from&nbsp;Sperax. The AMA took place on September 4 and our guests were Frida Cai and Zhou Yu. The total reward pool was $500 and it was splitted into three parts. In this AMA Recap we will try to summarize some of [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/1686"}],"collection":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=1686"}],"version-history":[{"count":2,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/1686\/revisions"}],"predecessor-version":[{"id":1690,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/1686\/revisions\/1690"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=1686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=1686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=1686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}