Mary | Satoshi Club: <\/strong>Good afternoon, Satoshi Club! Today\nour guest is Multiplier 😀 \n@multipliermarketing<\/a>\nwelcome to Satoshi Club.<\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>Hello Everyone! Glad to be here.<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Can you give us short intro about yourself\nand Multiplier project?<\/p>\n\n\n\n Serg | Satoshi Club: <\/strong>And about TakoSwap.<\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>Hello! My name is Dudley and I\u2019m the\nMarketing Director of Multiplier Finance.<\/p>\n\n\n\n Multiplier\nwas established in early 2019 as a licensed crypto lender, we transitioned into\nDeFi and officially launched our first DeFi MainNet protocol on 9th September\n2020. We will be launching our next DeFi product on 30th September 2020,\nTakoSwap. That’s today! we launched 7 hours ago.<\/p>\n\n\n\n You can\nstart farming TAKO on https:\/\/takoswap.org<\/a> <\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> So, i think we have a lot of\nquestions from our community) are you ready to talk about takos?<\/p>\n\n\n\n D.R.Dudley | Multiplier.finance:<\/strong> TAKO u mean. Yes I am.<\/p>\n\n\n\n Q1 from bitcointalk user Cryptosats<\/strong><\/p>\n\n\n\n The Farm pool of MultiTako Deposit\nMXX-TAKO TLP Earn TAKO offers a whopping 129,846.04% APY. How long will this\nlast and how secure is it to deposit assets into TakoSwap and participate in\nthese high yield pool?<\/em><\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>That’s alright. Basically, the\nemission rate gradually drops over time. It is 2000 rewards per block (15\nseconds) for these 3 days, before it drops to 1000 and 500 etc. <\/p>\n\n\n\n Here is the\nemission table for reference:<\/p>\n\n\n\n To answer\nyour second question regarding security, TakoSwap is audited by Bramah Systems.\nThey’ve previously audited dYdX and mStable. You can find the audit report\nhere: https:\/\/bramah.systems\/audits\/Multiplier_Finance_Audit_Bramah.pdf<\/a>\n<\/p>\n\n\n\n Luis Merino | Satoshi Club: <\/strong>So block rewards will be divided by 2\neach time. Why starting by 2000? Too high.<\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>It only lasts for a few days, so for\nthe yield farmers out there, start farming TAKO as soon as you can! Again, we\njust launched 7 hours ago, so there’s still lots of time.<\/p>\n\n\n\n Q2 from bitcointalk user elissa<\/strong><\/p>\n\n\n\n You claim that Tako tokens are 100%\ndistributed to the community, with no team allocation, no pre-mine, and no\ninitial public sale. Wow, but how do you survive? Cheesy Where do you take\nfunds to pay salaries and for other expenses?<\/em><\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>As per the whitepaper, the core team\nis allocated 30% of the MXX tokens, that will be escrowed for 3 years. Our\nsuccess, is solely dependent on the success of MXX and the whole Multiplier\necosystem. <\/p>\n\n\n\n We began as\nearly CeFi lenders, our funds came from the early success from back then. Just\nto touch on that: Multiplier began as a CeFi lender in 2019, and had obtained\nthe relevant licensing from Hong Kong and Switzerland. We had also formed\nnotable collaborations such as that with Coinbase Custody and JUMIO.<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Do you have a big team?<\/p>\n\n\n\n D.R.Dudley | Multiplier.finance:<\/strong> Well, we have a core team of 8, but\nour whole team consists of developers, marketing, business development,\ncompliance, which would make us just under 20. https:\/\/cefi.multiplier.finance\/about-us<\/a>\n<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>On which place in your ecosystem TAKO\nis? Were you developing it from the beginning or added later?<\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>Multiplier Finance\u2019s vision is to\ncreate a suite of high-value financial products. We view the DEX as a critical\ncomponent of our ecosystem. <\/p>\n\n\n\n The\nMultiplier Ecosystem currently consists of 3 products each with its own unique\nfunction and purpose \u2013 Simplified Stable Bonds (SSB), TakoSwap and Multi-Chain\nMining (going live soon.) <\/p>\n\n\n\n We started\nwith SSB (audited by CertiK), which mimics a tokenized bonds market. Users have\nthe flexibility to create their own SSB contracts where they can determine the\ntenure and interest rate they want to earn on their underlying assets (up to\n1000% yield).<\/p>\n\n\n\n And we just\nlaunched TakoSwap earlier today. And soon, we will launch Multi-Chain Mining.\nMultiplier will operate numerous POS (Proof-Of-Stake) validator nodes to secure\nthose networks. By doing so, we will accept and allow token owners to stake\ntheir token in our mining pool.<\/p>\n\n\n\n Maybe this\nwill help:<\/p>\n\n\n\n Luis Merino | Satoshi\nClub: <\/strong>Looking forward\nto the mining launch! Do you have any approximate dates for its launch?<\/p>\n\n\n\n D.R.Dudley |\nMultiplier.finance: <\/strong>We\ndon’t have confirmed dates to announce in regards to the Multi-Chain Mining\nlaunch. <\/p>\n\n\n\n However, we’ve launched SSB on 9th of September. We’ve\nlaunched TakoSwap today, 30th September. It won’t be long before we launch\nMulti-Chain Mining. Also, we’ve always delivered way ahead of our roadmap. Stay\ntuned in our discord and telegram for our progress.<\/p>\n\n\n\n Q3 from Telegram user\n@nerddutch<\/strong><\/p>\n\n\n\n I have read that you were audited by\nBramah Systems. Where can we see the result of the audit? Also, where there any\nthird parties who did another audit?<\/em><\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>TakoSwap is a fork of UniSwap and\nSushiSwap, so it’s actually already pretty safe and secure. <\/p>\n\n\n\n We made some\nmodifications which decreased the overall complexity by removing non-core\nelements of the protocol and thereby reducing the overall attack surface. To\nensure fairness, TakoSwap has also removed the \u2018reward multiplier\u2019 and the \u201810%\ndeveloper incentive feature\u2019 seen on SushiSwap. So, we did an extra round of\nauditing by Bramah Systems.<\/p>\n\n\n\n You can view\nthe full audit report here: https:\/\/bramah.systems\/audits\/Multiplier_Finance_Audit_Bramah.pdf<\/a> <\/p>\n\n\n\n By the way,\nBramah Systems previously audited dYdX and mStable.<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>But if something happened, do you\ntake any responsibility on users funds? (Of course, i hope this won’t happen).<\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>Multiplier only launches DeFi\nproducts that have been audited. Our first product SSB was audited by leading\ncybersecurity auditors CertiK, and as mentioned TakoSwap is audited as well. <\/p>\n\n\n\n When we\nbegan as a CeFi lender, we also made sure to form collaborations with reputable\nindustry leaders, such as Coinbase Custody. Safety and security of users’ funds\nare of utmost importance.<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Can you tell me what this means?<\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>Hmm. Does anyone else see this? I\nactually see it as secured on my end. Maybe I can troubleshoot this issue with\nyou more in detail after this AMA. Use https:\/\/takoswap.org<\/a><\/p>\n\n\n\n Q4 from Telegram Username @tungvodoi206<\/strong><\/p>\n\n\n\n Uniswap became popular and strongly\ndeveloped, in addition, Justswap MoonSwap, Shushiswap\u2026 are also emerging. So\nwhat do you think TakoSwap stands out and stands out to compete with those\ncompetitors? Is Multiplier\u2019s goal to put Takoswap above them?<\/em><\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>As mentioned earlier, TakoSwap is a fork\nof Sushiswap and Uniswap. <\/p>\n\n\n\n Multiplier\nFinance made modifications which decreased the overall complexity by removing\nnon-core elements of the protocol and thereby reducing the overall attack\nsurface. To ensure fairness, TakoSwap has also removed the \u2018reward multiplier\u2019\nand the \u201810% developer incentive feature\u2019 seen on SushiSwap. I guess you can\nalso see these as improvements.<\/p>\n\n\n\n Also, we\nactually prepared a little comparison chart, as this question is regularly asked.<\/p>\n\n\n\n Luis Merino | Satoshi Club:<\/strong> Really useful chart! Thank you \ud83d\ude42<\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>By the way, if anybody would like to\nhave a deeper understanding of some of the answers, you’re welcome to join our\ntelegram and discord. Our admins are always happy to help\nour community.<\/p>\n\n\n\n Q5 from Telegram Username @yzmoney<\/strong><\/p>\n\n\n\n How do you prevent users from leaving\nthe liqiudity pool after the initial high APY period? Do you have a guide on\nhow to stake LP for Tako token?<\/em><\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>For some projects out there, users\ntend to dump tokens due to the lack of utilisation. <\/p>\n\n\n\n The best solution\nis to give users more reasons and motivation to hold onto the token. We have\nstructured a Multiplier Ecosystem, so that users can have more usage on TAKO\nand to even mint other coins from different blockchains. In fact thru TakoSwap,\nUni And sushi token holders have an alternative way to utilise their tokens now<\/p>\n\n\n\n They get to\nmint, Uni or Sushi ->Tako \u2014> MXX -> bags of coins.<\/p>\n\n\n\n Q6 from Telegram Username @ireneLSL<\/strong><\/p>\n\n\n\n There were rumors circulating in\ndiscord group saying Tako uses code from another scam token called POT and\nthere are no timelock on the smart contract? can you comment on this.<\/em><\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>Yes, I heard about that. https:\/\/medium.com\/@multiplierfinance\/takoswap-delay-report-37d528288e88<\/a> <\/p>\n\n\n\n Maybe this\nwill explain a little bit about that. In summary: We uploaded our Smart\nContract Addresses to our Github for final QA at 6:55 pm UTC+8 29\/9\/20 (the day\nbefore).<\/p>\n\n\n\n At 11 am\nUTC+8 30\/9\/20, the team realized that there was one wallet address\n(0x80E209Bdb5109bd05288409302a5cb01642C5Ec1) that interacted with our Smart\nContract directly before the launch.<\/p>\n\n\n\n This wallet\naddress was able to farm TAKO tokens prior to our launch. The team decided to\nredeploy a new set of Smart Contracts, including new TAKO tokens. This decision\nwas made to ensure a fair play for all users. Due to this, there was a slight\ndelay and TakoSwap was launched at 12:07 pm UTC+8 30\/9\/20.<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Rumors not the best way to get info.<\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>We got quite a few users coming in\nbecause of these rumours, and they ended up joining our Multiplier community. So\nI guess there’s kind of a silver lining. In regards to the timelock question,\nonce the governance platform is ready, users may make proposals in regards to\nthe timelock. <\/p>\n\n\n\n Our team has\nbeen around since 2019, and this isn’t our first DeFi product. As mentioned\nearlier, we’ve collaborated with industry leaders such as Coinbase Custody. Also\nwe made sure to audit all our protocols by leading cybersecurity experts.<\/p>\n\n\n\n PART 2, TELEGRAM COMMUNITY LIVE\nQUESTIONS<\/strong><\/p>\n\n\n\n The\nchat was open for 80 seconds; a lot of questions were posted by Satoshi Club\ncommunity. Our guest chose some of them. <\/p>\n\n\n\n Q1 from Telegram User @AmirJosh<\/strong><\/p>\n\n\n\n What is special about Defi platforms\nthat you transitioned into it? Is it because of the popularity of Defi today\nthat force Multiplier team to do so or the previous model of your platform\nfailed?<\/em><\/p>\n\n\n\n Kimxx | Mulitplier.finance: <\/strong>Like all businesses, we started of as\nCEFI lenders which are regulated in Switzerland and Hong Kong. I could simply\ntell you it is a treacherous experience waiting relevant government for\napproval paperwork. Like all businesses, to stay competitive, we got to adopt\nchanges and evolve.<\/p>\n\n\n\n Q2 from Telegram User @huyvo87<\/strong><\/p>\n\n\n\n After John early redeems his\ncontract, the contract will be automatically available on the Open Market for\nother users to re-acquire. So what the contract has remaining?<\/em><\/p>\n\n\n\n Yewnan | Multiplier.Finance:<\/strong>\nAfter a user early-Redeem a SSB\ncontract, the same contract will be available in the Open-Market for other\nusers to acquire. The remaining MXX in that SSB contract will remain intact for\nthe new user. Do take note that when acquiring a contract from the Open Market,\nthe user does not have to burn Mxx. This will result in a much higher APY for\nthe user.<\/p>\n\n\n\n Q3 from Telegram User @nyo_cant<\/strong><\/p>\n\n\n\n You mentioned a collaboration with\nCoinbase Custody, which sounds really intriguing. Can you explain a little what\nare the main goals of that collaboration? Could it open some doors for MXX, for\ninstance?<\/em><\/p>\n\n\n\n Kimxx | Mulitplier.finance: <\/strong>What I can share is, we have close\nrelationship with Coinbase Custody, we constantly have discussion on\ncollaborating. Stay tuned!<\/p>\n\n\n\n Q4 from Telegram User @melanintrish<\/strong><\/p>\n\n\n\n How can I earn passive income on TakoSwap?<\/em><\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>If you know Swaps, then you know it’s\nimportant to start farming early as the reward rate (emission rate) drops\ngradually. <\/p>\n\n\n\n Here are\nsome of the pools and reward ratio that we have on https:\/\/takoswap.org<\/a>.<\/p>\n\n\n\n Q5 from Telegram User @konditer_rolex<\/strong><\/p>\n\n\n\n Are there penalties for early\nredemption of market collateral?<\/em><\/p>\n\n\n\n Yewnan | Multiplier.Finance: <\/strong>For a SSB contract, when a user\nperform an early-redemption, he has to burn some Mxx. <\/p>\n\n\n\n This\ninformation is documented in our whitepaper: https:\/\/multiplier.finance\/docs\/multipler-protocol-31082020.pdf<\/a>\n<\/p>\n\n\n\n Q6 from Telegram User @Mohitku1<\/strong><\/p>\n\n\n\n There is ongoing tokoswap giveaway of\n88 winners to get 88$ each. Can you tell us more about this Air drop? And when\nthis campaign will end.<\/em><\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>Our next AMA starts in about 1 hour.\nHere are some details of the promotion. <\/p>\n\n\n\n TakoSwap\n$10,000 USDT Giveaway<\/p>\n\n\n\n 🐙Participate in TakoSwap AMA Sessions on Telegram and stand a\nchance to win! Over $10,000 USDT in prizes! 🐙<\/p>\n\n\n\n Website:\nhttps:\/\/takoswap.org <\/p>\n\n\n\n Takoswap\nGrand Launch AMA: 30th September 2020, 9pm UTC+8 <\/p>\n\n\n\n 88 lucky winners\nshall win $88 USDT each! <\/p>\n\n\n\n Instructions:\n<\/p>\n\n\n\n 1. Follow\nhttps:\/\/twitter.com\/multipliermxx <\/p>\n\n\n\n 2. Tweet [1\ngood advice on what Multiplier should do next] @MultiplierMXX and\nhttps:\/\/t.me\/themultiplierio\u201d <\/p>\n\n\n\n Example:\n“Multiplier should do a DeFi product on BinanceChain @MultiplierMXX https:\/\/t.me\/themultiplierio<\/a>” (Users\nmay give multiple advice in one tweet.) <\/p>\n\n\n\n 3. Post the\nlink of your tweet in the telegram group https:\/\/t.me\/themultiplierio. <\/p>\n\n\n\n (Please note\nyou can only post once, and you may only post within 60 minutes after the AMA\nends.) <\/p>\n\n\n\n How we pick\nthe winners: <\/p>\n\n\n\n Format of our AMA <\/p>\n\n\n\n Thanks and I\nhope you all support the spirit of the AMA – to really get to know the projects\nwe highlight and curate for you. <\/p>\n\n\n\n (We reserve\nthe right to change these terms without prior notice at any time.)<\/p>\n\n\n\n We will have\nmore giveaways so do join our community.<\/p>\n\n\n\n Q7 from Telegram User @Nickkiii<\/strong><\/p>\n\n\n\n Kindly explain how the MultiChain\nMining works?<\/em><\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>Multi-chain Mining is one of our\nupcoming products due to be launched very soon. Multiplier will operate\nnumerous POS (Proof-Of-Stake) validator nodes to secure those networks. By\ndoing so, we will accept and allow token owners to stake their token in our\nmining pool.<\/p>\n\n\n\n An example\nwill be the Cardano stake pool which accepts ADA tokens. Based on each epoch,\nour pool will generate a certain ROI. This ROI (ADA rewards) will be used as an\nincentive for the MXX holders who have pledged their MXX token to govern the\nMultiplier platform. In a way, we are incentivising MXX holders to govern our\nplatform.<\/p>\n\n\n\n Once you\npledge your MXX to govern, you will automatically be enrolled into the Earn\nprogram, where the Multi-Chain Mining rewards will be fully distributed.<\/p>\n\n\n\n DEFI is\nabout bringing traditional financial products in a decentralized fashion to the\nmasses. An emerging trend we foresee is the integration of different\nblockchains to create a “Universal Tokenomic”; to be able to use an\nERC20 token to mint bags of coins from other blockchains. <\/p>\n\n\n\n The up-coming\nMulti-Chain Mining product is the first protocol which we will design, that\nallows our community to govern and earn rewards from our POS staking pool\noperation. Our pool will cover promising and prominent projects such as\nCardano, Polkadot, Cosmos, Kava, Kusama, Tezos and many others.<\/p>\n\n\n\n Q8 from Telegram User @finball<\/strong><\/p>\n\n\n\n Any more efficient ways, small\ndolphin player can join the pool? (Without hurting their weekly salaries to gas\nfees) I mean budget, under $100.<\/em><\/p>\n\n\n\n Yewnan | Multiplier.Finance: <\/strong>Do consider our SSB (Simple Stable\nBonds). It offers a high and stable APY. If you choose 9 months tenure, you get\n1000% APY. The beauty of this system is that you do not have to withdraw reguarly.\nIN this way, the gas fee is reduced drastically.<\/p>\n\n\n\n Q9 from Telegram User @Trust_Yourself22<\/strong><\/p>\n\n\n\n How can UNI & SUSHI token holders\nhave an alternative way of using their coins from Takoswap?<\/em><\/p>\n\n\n\n Kimxx | Mulitplier.finance: <\/strong>Simply just need to provide liquidity\nin TakoSwap Exchange UNI – SUSHI and will receive UNI – SUSHI TLP token. With\nthat you can stake in our UNI – SUSHI Pool to mint TAKO! 🐙<\/p>\n\n\n\n Q10 from Telegram User @Ravi2139<\/strong><\/p>\n\n\n\n You have very interesting project\nname #TAKOSWAP, AND I found Tako means Octopus in Japanese, so can you tell us\nwhat inspired team to name project as #TAKOSWAP any interesting story you want\nto share with us?<\/em><\/p>\n\n\n\n D.R.Dudley | Multiplier.finance: <\/strong>TAKO means Octopus in Japanese. The\noctopus has 9 brains, 8 legs with lots of suckers, 3 hearts, blue blood, camouflages\nand produces toxic ink. The genius of the ocean!<\/p>\n\n\n\n PART 3, QUIZ AND INFO<\/strong><\/p>\n\n\n\n As usual, for the third part, Satoshi\nClub Team asked the chat 4 questions about TakoSwap. A link to\na Quiz form were sent into the chat. Participants had 10 minutes to answer.\n300$ were distributed between the winners.<\/p>\n\n\n\n For more information and future AMAs, join our Social Media\nchannels: <\/strong><\/p>\n\n\n\n English Telegram\ngroup: https:\/\/t.me\/Satoshi_club<\/a>\n<\/p>\n\n\n\n Russian Telegram\ngroup: https:\/\/t.me\/satoshi_club_ru<\/a>\n<\/p>\n\n\n\n Spanish Telegram\ngroup: https:\/\/t.me\/satoshi_club_spanish<\/a>\n<\/p>\n\n\n\n Telegram Channel:\nhttps:\/\/t.me\/satoshi_club_channel<\/a>\n<\/p>\n\n\n\n Website: https:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n Twitter:\nhttps:\/\/twitter.com\/esatoshiclub<\/a> <\/p>\n\n\n\n![\"\"](\"https:\/\/esatoshi.club\/wp-content\/uploads\/TK2.jpg\")
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