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 Tower Finance and our guest was . The AMA took place on the 8th of February<\/p>\n\n\n\n
The AMA session was divided into 3 parts with a total crypto reward pool of $500<\/p>\n\n\n\n
In this AMA Recap, we will try to summarise the most interesting points for you.<\/p>\n\n\n\n
Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Hello Satoshi Club!\nWe are happy to announce our AMA session with Tower Finance! Welcome to Satoshi Club<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n our guest today – @tokyo48 ! <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Welcome to the Club<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Hi everyone! thank you for having me.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n How are you today? <\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n good to have you here! <\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n I’m doing great! Didn’t expect this much people Satoshi CluB<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Ahaha, yes, we have a big, but friendly community <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n So, let’s start our AMA <\/p>\n\n\n\n @tokyo48 could you please introduce yourself and tell us more about Tower Finance <\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Hi, my name is <\/strong>Tokyo and I’m the Director of Tower Finance. I’m in charge of designing the overall structure of Tower Finance.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n What is Tower Finance and it’s main goals?<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Tower Finance is an algorithmic stablecoin project that\nintegrates DeFi 2.0, built on Polygon network. It aims to solve the problem of\nwhat is known as the stablecoin trilemma<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Could you please explain us what is stablecoin trilemma? Our\nusers can be not familiar with it<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Sure, the stablecoin trilemma refers to <\/p>\n\n\n\n – decentralizion<\/p>\n\n\n\n – capital efficiency<\/p>\n\n\n\n – stability<\/p>\n\n\n\n There are many stablecoins out there but they all have pros and cons.Stablecoins such as USDT or USDC has centralization issues<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n True<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Stablecoins like DAI has to be overcollateralized, therefore\nit’s less capital efficient, especially for those of you who are seeking better\nyield generating opportunities.<\/p>\n\n\n\n Others that are purely algorithmic, such as Basis Cash,\nEmpty Set Dollar has failed to stabilize its peg (to the dollar).<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n 100% agree<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n It’s a real headache<\/p>\n\n\n\n Who are helping Tower Finance to solve all problems? Can you\ntell us more about your team?<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Definitely Mary. So three big problems… and solutions with\npros and cons.<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Yes! I’d love to. And thanks for asking <\/p>\n\n\n\n Our team consists of crypto native people, defi degens with many years of experience in the crypto field. I’ve personally been around since 2015 and was lucky to watch the astronomic growth of the crypto industry.<\/p>\n\n\n\n Also, a few from the largest gaming companies and traditional\nfinance.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Me as well, magic years<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Light years too !<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Are you all public or anonymous?<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Our team is pseudonymous because we are strong believers of\nprivacy and digital identities as a defense of individual freedom.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n I see, true crypto believers <\/p>\n\n\n\n @tokyo48\nthank you for your intro! We choose 6 questions from our community for the\nfirst part of our AMA and i want to ask if you’re ready to answer them?<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n absolutely. Happy to answer those questions.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Let’s go <\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Q1 from Telegram user @Jodasf1<\/em><\/p>\n\n\n\n I read that Tower Finance has designed a stablecoin called TWR, which is a fractional algorithm to solve the capital efficiency problem that existing stablecoins suffer from. But, could you explain to us here in a quick and simple way why you are so sure that with the design of TWR you will be able to improve the capital efficiency of existing stablecoins, share with us how the system you have designed will work and how it solves the above mentioned problem?<\/em><\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Partially answered <\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n That’s right.<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n We’re offereing another option\/solution for users who want\nbetter capital efficiency, that is backed by partial collateral, and reinforced\nwith a sound business model that generates protocol revenue.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Is it possible to block TWR? As it can be done with USDT or\nUSDC?<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Seems there are many people who are interested in stablecoin\nproject <\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n As i know there is many stablecoins on the market, except\ndai, usdt, usdc, busd we can say ust is the also a popular one, what your\nthoughts on this stable? ust is kinda different of those four<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Ahaha, bull market gave us some profits<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Great question Mary. We’re not a centralized 100%\ncollateralized stablecoin like USDT or USDC. So we don’t have those issues.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n There were a lot if rumours about it lately, but i hope it\nwill be ok)<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Tower will be censorship resistant so long as the Ethereum\nnetwork lives on.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Awesome! Happy to hear!<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n A lot of people don’t see this as a problem<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n UST is similar to our model with a 0% TCR. There are risks\nthat are difficult to evaluate at this stage.<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n But we need to be aware that if there is a case where there\nis a high demand for Redeem…. it can put enormous pressure on the stability\nof the system<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n got it! appreciate for answer <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your answers! Ready to proceed?<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n sure! pls do<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Q2 from Telegram User @sunny_steel<\/em><\/p>\n\n\n\n Opposite to TWR token, the CUBE Token (CUBE) is a non-stable, utility token in the protocol. While meant to be volatile, it holds rights to governance and all utility of the system. You also say that you take a highly governance-minimized approach to designing trustless money. Please specify the usecases of Cube token. If it serves to be a governance token, please share some details about Tower Finance Governance model. What are the features making your DAO special? Thanks!<\/em><\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n First of all, CUBE is required to mint TWR<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n btw, thanks so much for diving into our docs<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n As the Tower ecosystem\/demand expands, CUBE is designed to\ncapture the value of its grwoth via….<\/p>\n\n\n\n More use cases, voting rights, distribution of rewards from\nprotocol revenue by staking (xCUBE)<\/p>\n\n\n\n More use cases will be made available via governance<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n When your governance will go live?<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Prior to activating governance, CUBE should be sufficiently\ndistributed<\/p>\n\n\n\n We estimate that to be at least 1 or 2 months<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n so total supply of CUBE will be reduce by time? because CUBE\nessential for minting TWR? do you stick to some burning mechanism?<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Yes its deflationary(likely)<\/p>\n\n\n\n when TWR is minted it requires some CUBE depending on the\nTCR (Target Collateralized Ratio)<\/p>\n\n\n\n Also, CUBE can be burned via Profit Manager<\/p>\n\n\n\n So there’s some good upside pressure<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Nice model! How CUBE will be distributed?<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n 70% will be allocated to farming, 30% team + treasury<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Gotcha .Thank you for your answers! Ready to jump to the next question?<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n sure thing!<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Q3 from Telegram user @Ecmq10<\/em><\/p>\n\n\n\n Hello Tower Finance team. You on your website emphasized in your FAQ section that you haven\u2019t received any official investment yet. You mentioned that you only have strategic partners who will provide small liquidity of CUBE at the early stage. Currently, is there any new update regarding this? Haven\u2019t you received any official investor yet? Do you consider that a disadvantage for Tower Finance? How many strategic partners do you currently have? Thank you!<\/em><\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n We have no official investments and we never planned on\nraising VC money for an algorithmic stablecoin that is governed by the\ncommunity<\/p>\n\n\n\n However, there is a strategic partner who will provide small\nliquidity of CUBE<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Very honest position <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Can you name this partner?<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n We do not consider it as a disadvantage … there are some\ndownsides but if you believe in decentralized finance, this is the way to go.\nWe will consider however, raising at a later stage for ecosystem expansion.<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n I can’t disclose names for confidentiality reasons but\nthey’re partners that add value to the protocol<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Understand <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your answers! Ready for the next question?<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Yup yup<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n let’s go!<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Q4 from Telegram user\u00a0\u00a0 @Antoni_azx<\/em><\/p>\n\n\n\n I read that liquidity farming starts on Feb 14 this year and will last for about 6 years, so could you tell us the benefits of users from the beginning to the end of these 6 years? Is it really worth staying that long? How will you protect user assets so that they increase in value over time? Also, could you tell us if anyone can participate from day one?<\/em><\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Economics is a tough issue in crypto…<\/p>\n\n\n\n Like any project we cannot guarantee price action in the\nfuture<\/p>\n\n\n\n But we designed it so that revenue is sustainably generated\nby Profit Manager<\/p>\n\n\n\n Anybody can participate from day one<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Where we will be able to farm?<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n yes, which platforms (maybe DEXs) you have choose for the\nstart of farming? can you share that info?<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n users will be able to farm from our website. Its not open\nyet but will be announced via DIscord, Twitter and Medium.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n We will follow your updates <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Btw, you can share your social media links here<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n We’ll be using Firebird<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n That’s because they are offering favorable fee rate. (means that we are gonna use the LP from Firebird)<\/p>\n\n\n\n Tokyo<\/strong><\/p>\n\n\n\n Website: https:\/\/towerfinance.io<\/a><\/p>\n\n\n\n Twitter: https:\/\/twitter.com\/tower_finance<\/a><\/p>\n\n\n\n Medium: https:\/\/medium.com\/@tower_finance<\/a><\/p>\n\n\n\n