{"id":2841,"date":"2020-11-06T09:38:49","date_gmt":"2020-11-06T07:38:49","guid":{"rendered":"https:\/\/esatoshi.club\/?p=2841"},"modified":"2020-11-06T09:38:54","modified_gmt":"2020-11-06T07:38:54","slug":"xplosive-ethereum-x-satoshi-club-ama-recap-from-1st-of-november","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2020\/11\/06\/xplosive-ethereum-x-satoshi-club-ama-recap-from-1st-of-november\/","title":{"rendered":"Xplosive Ethereum x Satoshi Club AMA Recap from 1st of November"},"content":{"rendered":"\n

The month of November has begun and\nthat means that the year 2020 is about to come to an end, at Satoshi Club we\nwill continue to bring exciting projects. Today we would like to tell you about\nthe AMA session with our friends from Xplosive\nEthereum<\/a> and the guest was xETH Trent, the Marketing Manager for xETH. <\/p>\n\n\n\n

The total reward pool was 500$ and was\ndivided into three parts. In this AMA Recap we will try to summarize some of\nthe most interesting points for you.<\/p>\n\n\n\n

\n\n\n\n

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS<\/strong><\/p>\n\n\n\n

Luis Merino | Satoshi\nClub: <\/strong>Hello\nSatoshiClubbers! Welcome to another AMA session with us. Today we have Xplosive\nEthereum with us.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club: <\/strong>@xETHTrent<\/a>,\nwelcome to Satoshi club!<\/p>\n\n\n\n

xETH Trent:<\/strong> Hey guys, pleasure to be here with\nyou all.<\/p>\n\n\n\n

Luis Merino | Satoshi Club: <\/strong>Could you please introduce yourself\nand tell us how you started with xETH?<\/p>\n\n\n\n

xETH Trent: <\/strong>I am the Marketing Manager for xETH;\nI have been a holder of xETH before I joined the team.<\/p>\n\n\n\n

My pleasure, xETH (Xplosive Ethereum) is the first of its’\nkind in the rebase space of cryptocurrency. Xplosive Ethereum is a price\nreactive deflationary token that has eradicated negative rebases. xETH has a\ntarget price of 0.01 ethereum daily, meaning if the price of xETH is above 0.01\nETH we get a positive rebase. If it\u2019s below that amount nothing happens! The\nsales tax also burns an amount of each transaction reducing overall supply,\nhalf of this tax is sent to the staking rewards pool and half is sent to a burn\naddress.<\/p>\n\n\n\n

Q1 from Telegram user\n@sajay999 <\/strong><\/p>\n\n\n\n

If you xETH is pegged\nto 0.01 ETH, does it mean that its price can’t go lower or higher than the\nprice of 0.01 eth? Like usdt to usd?<\/em><\/p>\n\n\n\n

xETH Trent: <\/strong>No not at all, the price being pegged\nis the reference of the standard value of the token. The price is still able to\nbecome higher or lower based on buy and sell pressure. When the price goes\nabove the peg price that is when a rebase occurs, what happens is your holdings\nincrease relative to the increase of value above the peg price. So if the value\nof the token is 10% above the peg price then you are awarded additional tokens\nto the value of the 10%, effectively increasing inflation to bring your\nholdings back in line with the peg price, while it doesn’t devalue your current\ntokens it increases the circulating supply to align the number of tokens with\nthe value of the market cap.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club: <\/strong>Does this mean that you are always in\nposition win-win?<\/p>\n\n\n\n

xETH Trent: <\/strong>It is a win-win for xETH but not in\nthe traditional sense that the tokens value never drops. The mechanisms behind\nxETH that make it a win-win is that our taxes are increased the further below\npeg we go. This incentivizes hodling and alleviates sell pressure. With all\nother rebase tokens they have a mechanism called a debase, where your token\nholdings are reduced. So as an example, you could go to bed with 100 tokens and\nwake up to 80 tokens after a negative rebase. Our token is designed with no\nnegative rebases, so you will never have less tokens. You can only ever gain\nmore tokens.<\/p>\n\n\n\n

Further to this one huge point is Xeth discludes the uniswap\npool so when a rebase occurs your tokens are worth the same as they were beforehand.\nSo if Xeth is $5 and you have 100 Xeth and then get a 20% rebase you then have\n120 Xeth at $5. Price doesn\u2019t change.<\/p>\n\n\n\n

Q2 from Telegram user\n@ozmnhkn<\/strong><\/p>\n\n\n\n

Although ETH 2.0 is\ndelayed to next year, it will solve all current ETH issues and dApps will be\ntrending in the future, do you think this is a threat to your project?<\/em><\/p>\n\n\n\n

xETH Trent: <\/strong>No not at all, as our token directly\ncorrelates to ETH, as the value of ETH increases so does our tokens peg price.\nAgain the further below peg that we are the higher the tax rate is. This deters\nsell offs and increases the buy presser exponentially. Once we have hit peg,\nyou get a rebase and the tax is reduced to stop the hyperinflation of the value\nof the token. It is designed to always be worth 0.01 ETH and our mechanisms were\ndesigned by mathematics and economics engineers to ensure that it not only\nworks as it is designed to but also that it is sustainable for years to come.<\/p>\n\n\n\n

The better ETH performs and the greater adoption of dAPPs\nwill only strengthen xETH into the future.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club: <\/strong>By the way, do you have a big team?\nHow many people are working on a project?<\/p>\n\n\n\n

xETH Trent: <\/strong>Our team has over 10 members as well\nas a partnership with the Community Token (com) which gives us a greater talent\npool to be able to utilize.<\/p>\n\n\n\n

Luis Merino | Satoshi Club: <\/strong>Got it! So the improvements done to\nETH will directly affect xETH. Sounds good. Looking forward to ETH 2.0 launch\nto see how your project reacts. \ud83d\ude42<\/p>\n\n\n\n

xETH Trent: <\/strong>They are a mixture of many different\nbackgrounds and experts in their chosen fields and professions. We have\ndevelopers, engineers, business professionals to name a few.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club: <\/strong>For the success of the project, in\naddition to technology, you really need proper marketing. And that’s a good way\nto go.<\/p>\n\n\n\n

xETH Trent: <\/strong>Correct, I own a digital media agency\nand was the reason I joined the team as the Marketing Manager. I have also run\nseveral multi-million dollar sites for various national and international\ncompanies. I started my career working for a Fortune 500 company called CSC\n(Computer Sciences Corporation).<\/p>\n\n\n\n

Q3 from Telegram user\n@Jobel4<\/strong><\/p>\n\n\n\n

How can you assure\nthat Xplosive Ethereum has no negative Rebases? Can you discuss how rebasing\nrun in your platform? What are the drawbacks and benefits of Rebasing?<\/em><\/p>\n\n\n\n

xETH Trent: <\/strong>We are a fork of the project AMPL\n(Amplforth) and looked at what made that project good and what were some of the\nchallenges associated with it and others competing for market share in the\nspace. We noticed they all had the same design principles of negative rebases,\nwhich while in theory is a sound principle the psychological effects of that is\ndetrimental for the sustainability of not only the token but also your own\nportfolio. We knew that if we could come up with a solution to that problem it\nwould not only be a groundbreaking game changer but also have positive\nfinancial impacts for our communities\u2019 portfolio.<\/p>\n\n\n\n

The rebase lag factor ensures that the rebases are\nsustainable for the long term. We had mathematicians come up with the perfect\nformula for a sustainable rebase.  Let\u2019s\nsay the peg price determined is 0.01 ETH which is 3.75 usd in example. Imagine\nthat we are at 7.5 usd per xETH, then we are 100% above the peg. With the\nrebase lag of 1\/2 (divided by 2) we would get a rebase of 50%. Our rebase is\nable to be dynamic based on how long the price has remained below peg. If the\nprice stays below peg for too long then the rebase lag rate is reduced, adding\nmore incentive to buy the token and drive the price back above peg. If the\nprice is above peg for too long, then the lag rate is increased. This prevents\nhyper-inflation. If the price goes too high the lag is further increased to\nkeep the rebases sustainable and allowing the project to continue on\nindefinitely.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club: <\/strong>It’s good that you thought about it.\nWhat about smart contact audit? Did you have or plan it?<\/p>\n\n\n\n

xETH Trent: <\/strong>The greatest benefit to rebasing with\nno negative rebases is you are able to have a passive income for as long as you\nown the token and we are above the peg price.<\/p>\n\n\n\n

Our smart token is actually a fork of AMPL but with all the\nenhancements to create something better. AMPL was previously audited so we knew\nthe contract was safe. As we are partnered with the Community Token (com) some\nof their developers went over the contract as well. However we do not consider\nthat to be an audit as they are closely partnered with us. In regards to a\nthird party reputable auditor we will be having one done with the release of\nxETH 2.0.<\/p>\n\n\n\n

Once that audit is completed we will be posting it on our\nwebsite \/ medium \/ github etc for full transparency and disclosure.<\/p>\n\n\n\n

Q4 from Telegram\nUsername @konditer_rolex<\/strong><\/p>\n\n\n\n

Did I happen to hear\nabout the xeth Millionaire cruise? What is it guys?<\/em><\/p>\n\n\n\n

xETH Trent: <\/strong>Haha, Yes that is true, we have quite\na few large investors backing the project. It was an idea floated by one of our\nlargest investors who wants to take everyone who owns a substantial amount of\nxETH on a Caribbean cruise. Full disclosure, I can’t wait lol.<\/p>\n\n\n\n

Q5 from Telegram\nUsername @yzmoney<\/strong><\/p>\n\n\n\n

There are several\nrebase token in the market, with ampl with largest market cap with a onetime\nmarketcap from 1 billion market cap that drops until 100 million now. What\u2019s\nyour unique selling point compare to them? the target of your coin is to reach\nbaseline of 0.01Eth, why did you choose this value? Is there a maximum % of\nrebase daily?<\/em><\/p>\n\n\n\n

xETH Trent: <\/strong>Our unique selling point is no\nnegative rebases. You will never lose any of your tokens. With the uniswap\npools not taken into consideration the value of your tokens doesn’t decrease as\nyour token holdings increase. This allows you to earn a sustainable passive\nincome. In the current climate with COVID and economic uncertainty this adds a\nlevel of stability in an already uncertain time. That value was chosen as it is\na sustainable price point that anyone can buy into, we could have gone 1 BTC as\nthe peg, but it will price regular investors out of the market from owning more\nthan one token. We aren’t trying to be the most expensive token, but we do want\nto become one of the most widely adopted. There is not a maximum, however the\nfurther away from peg we go the more the lag rate increases, this is to ensure\nthere is not a 100% rebase where people just get twice as many tokens and we end\nup with a hyperinflation scenario.<\/p>\n\n\n\n

There are smarter people than me with economics, financial\nand mathematics degrees who have worked out the perfect formula for keeping\neverything synced in perfect harmony. I will say an analysis of xETH v AMPL was\nconducted, Over the last 30 days, average rebase for xETH 6.1% \/ 0.006% for\nAMPL.<\/p>\n\n\n\n

Q6 from Telegram\nUsername @Xusuo<\/strong><\/p>\n\n\n\n

I read that roadmap\nfor 2021 you have planned the issuance of XplosiveETH Stablecoin. My question\nis What role will it play on the platform? How will it differ from XplosiveETH?<\/em><\/p>\n\n\n\n

xETH Trent: <\/strong>That is not on our roadmap. We do not\nhave plans for a stablecoin. Our roadmap ends at the end of 2020 with xETH 2.0.\nThat is once the audits are finalized and everything is 100%. At which point\nthe dev keys will be burned, and the project will be completely decentralized.\nIt will then be handed over to the community as it was always intended to be.<\/p>\n\n\n\n

\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 Unknown Telegram\nUser <\/strong><\/p>\n\n\n\n

\u2026<\/em><\/p>\n\n\n\n

xETH Trent: <\/strong>Yes! Our staking pools are currently\nin beta testing, once everything has been proven to work accordingly this will\nbe opened for people to provide LP tokens as liquidity.  This will further stabilize the price\nallowing for a slower and more even price change. You will get tokens from\nproviding LP tokens relative to your contribution.<\/p>\n\n\n\n

Q2 from Telegram User @KeymerS<\/strong><\/p>\n\n\n\n

In the last 24 hours xETH has fallen\nby 39.87%, how did this happen if XPLOSIVE ETHEREUM has deflationary mechanisms\nthat make the price rise again? or have not finished developing them?<\/em><\/p>\n\n\n\n

xETH Trent:<\/strong> After every rebase there is a natural\nsell wall, every rebase token encounters it, as that is by nature the design of\na rebase token. If there were no sells after a rebase then the price would\nnever go down and the reduction of lag will continue until the buy pressure is\nreleased. If you look through the data we had that happen with the token at the\nstart of its life cycle. As with all tokens there are ebbs and flows. We have\nnow been live for a little over 6 weeks, and the mechanisms we have in place\nare working as they should be. Once you have a rebase, you sell your rebase (if\nyou choose, you could hold it and compound the additional tokens next rebase if\nthat is what you choose to do and gain more tokens from subsequent rebases) and\nthe price goes below peg. The tax increases to alleviate the sell pressure and\nprevent the token going into a deal spiral. Now that we have gone past the\ninitial phase, you will see a steady flow of buys after each rebase sell wall.\nThis is the only way a passive income is sustainable.<\/p>\n\n\n\n

Q3 from Telegram User @AmirJosh<\/strong><\/p>\n\n\n\n

Can you please explain the 33% tax\nwhen someone adds liquidity? What is the reason why you set this high percentage?<\/em><\/p>\n\n\n\n

xETH Trent: <\/strong>The tax is variable and will always\nchange depending on the market demands. However with staking as you are\nguaranteed to earn tokens even when the price is below peg, this was done to\nprevent daily dumping of tokens suppressing those whom do not stake from\nreaching peg and earning rebase rewards. You will always end up in a profitable\nposition, it will just take a little while initially.<\/p>\n\n\n\n

Q4 from Telegram User @Johana0012<\/strong><\/p>\n\n\n\n

Do the delegates with more Xplosive\ntokens have more voting power? have a greater capacity to direct the project?<\/em><\/p>\n\n\n\n

xETH Trent: <\/strong>No, it does not matter if you own 1\nxETH of 1 million. Every vote that is put forward has an equal voice. This is\ntruly designed with the community in mind and not a few people who are able to\npurchase more.<\/p>\n\n\n\n

Q5 from Telegram User @Don289<\/strong><\/p>\n\n\n\n

If anybody think that your project\nreally likes a scam project, and they can’t trust your project. How do you make\nthem believe in your project?<\/em><\/p>\n\n\n\n

xETH Trent: <\/strong>With so many dubious projects in the\ncrypto space it is easy for people to be skeptical about projects. Currently\nthe development funds are locked until after xETH 2.0 is available. We have\nalso burnt 70% of the developer tokens to the tune of $3.2 million USD. xETH\n2.0 will be completely audited by reputable external auditors and those results\nwill be published on all of our socials and on the website, medium, github.\nFinally we will burn the developers keys.<\/p>\n\n\n\n

Q6 from Telegram User @Triwidodo99<\/strong><\/p>\n\n\n\n

What is the main use case of xplosive\nETH?<\/em><\/p>\n\n\n\n

xETH Trent: <\/strong>Our economics and financial\nspecialists took the federal reserve and the banking sector in mind and wanted\nto offer better interest rates that you can receive from them. Think of xETH as\na long term savings account. You can withdraw your interest or some of your\ncapital if you need or leave it there to earn more money over time. This is one\nof the major factors that will help to garner mass adoption.<\/p>\n\n\n\n

Q7 from Telegram User @ruhel00786<\/strong><\/p>\n\n\n\n

I am strong hodler so Can you please\ntell me why i go for $xeth instead of $AMPL?<\/em><\/p>\n\n\n\n

xETH Trent: <\/strong>No negative rebases, higher ROI and\nmechanics in place to stop the price staying below peg.<\/p>\n\n\n\n

Q8 from Telegram User @Rosane1a8<\/strong><\/p>\n\n\n\n

What backs up the initial value of\nxETH? How was the crowdfunding for this, did the community take part of it?<\/em><\/p>\n\n\n\n

xETH Trent: <\/strong>The inital value of xETH was the com\ntoken. When the founders initially wanted to build the project they took all\nthe information along with the mechanics and formulas for the sustainability of\nthe token and presented it for the initial liquidity. It was vetted before the\nproject was nothing more than a concept. The COM team helped to establish the\nfoundation of the project and is the reason why we are so closely partnered\nwith them.<\/p>\n\n\n\n

Q9 from Unknown Telegram User <\/strong><\/p>\n\n\n\n

\u2026<\/em><\/p>\n\n\n\n

xETH Trent: <\/strong>Most rugs occur within the first few\ndays of a project. xETH is nearing 2 months old. The team behind the formulas\nhave spent countless hours going over the numbers and running future models\nwith various scenarios to ensure the sustainability of the project. Until xETH\n2.0 is completely handed over to the community these models can continually be\nfine-tuned and tested. Though they haven’t needed to be for a while.<\/p>\n\n\n\n

Q10 from Telegram User @Alika061<\/strong><\/p>\n\n\n\n

There are so many people who want to\ndrop or FUD on a project and I see now in the group there are so many\nvilification and FUD, what about the responses that are problematic like that\nin the #Explosive Ethereum community?<\/em><\/p>\n\n\n\n

xETH Trent: <\/strong>Fud is an inevitability of all\nprojects these days, a lot of people dive into the latest hyped project without\neven knowing what the project is or what it is designed for. You cannot stop\nfud if people want to be malicious. You can educate people who do not know and\nstart to panic. Knowledge is the best weapon in fighting fud. Don’t retaliate,\neducate. Our community has great members whom will help you and teach you if\nyou really want to know about the project. Of course you will always have\npeople who want to play psyops or enjoy seeing others get shaken, that is an\nunfortunate side effect of people being able to hide behind a screen.<\/p>\n\n\n\n

\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 Xplosive Ethereum. A\nlink to a Quiz form were sent into the chat. Participants had 10 minutes to\nanswer. 300$ 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

Our Partners: <\/strong><\/p>\n\n\n\n

Xplosive\nEthereum: https:\/\/t.me\/xplosive_ethereum<\/a>\n<\/p>\n","protected":false},"excerpt":{"rendered":"

The month of November has begun and that means that the year 2020 is about to come to an end, at Satoshi Club we will continue to bring exciting projects. Today we would like to tell you about the AMA session with our friends from Xplosive Ethereum and the guest was xETH Trent, the Marketing […]<\/p>\n","protected":false},"author":4,"featured_media":2842,"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\/2841"}],"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=2841"}],"version-history":[{"count":1,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/2841\/revisions"}],"predecessor-version":[{"id":2843,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/2841\/revisions\/2843"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media\/2842"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=2841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=2841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=2841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}