{"id":3504,"date":"2020-11-24T21:23:53","date_gmt":"2020-11-24T19:23:53","guid":{"rendered":"https:\/\/esatoshi.club\/?p=3504"},"modified":"2020-11-24T21:23:56","modified_gmt":"2020-11-24T19:23:56","slug":"defiance-x-satoshi-club-ama-from-21-november","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2020\/11\/24\/defiance-x-satoshi-club-ama-from-21-november\/","title":{"rendered":"DEFIANCE x Satoshi Club AMA from 21 November"},"content":{"rendered":"\n

Hello,\nSatoshi clubbers another\nAMA took place at Satoshi Club and we would like to introduce to you\nthe AMA session with our friends from DeFiance. The AMA took place on\n21 November 4 PM UTC.<\/p>\n\n\n\n

The\nAMA session was divided into 3 parts with a total crypto reward pool\nof 600$ .<\/p>\n\n\n\n

In\nthis AMA Recap we will try to summarise the most interesting points\nfor you.<\/p>\n\n\n\n

Part\n1 \u2014 introduction and questions from the Telegram&Bitcointalk\ncommunity<\/strong><\/h2>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Hello\nSatoshiClubbers! Welcome to another AMA session with Satoshi Club. \n<\/p>\n\n\n\n

Today\nwe have our guests from Defiance.<\/p>\n\n\n\n

@defiqueen\n@def_erik @wearedefiance @Def_Giorgio <\/strong>welcome!!<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Hello\nto everyone! How are you, how is your day going?<\/p>\n\n\n\n

I\nam Charlie from Defiance!<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Good evening Satoshi clubbers! We are starting our today’s AMA with Defiance. Our guests today are @defiqueen, @def_erik, @wearedefiance, @Def_Giorgio.<\/p>\n\n\n\n

Giorgio<\/strong><\/p>\n\n\n\n

Hi\neveryone<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Yes\ndear community, I’m back moderating. Don’t worry :wink:🥰<\/p>\n\n\n\n

Erik (Defiance Developer)<\/strong><\/p>\n\n\n\n

Hello!\nI am Erik from Defiance, nice to be here. :blush:<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Welcome to Satoshi Club, <\/strong>@defiqueen, @def_erik, @wearedefiance, @Def_Giorgio!<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Thank\nyou!<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Welcome\nguys! How are you all today?<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

We\nare pretty good, thank you very much. On the other hand, we are of\ncourse quite tired. 🙂<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Thanks\n for joining us.<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Thank\nyou all for setting this AMA session.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

It\nis a real pleasure!!<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Tell\nus more about yourself and Defiance project<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

It\ncertainly a real pleasure for us too.<\/p>\n\n\n\n

Defiance\n(DEF) is a deflationary ERC20 token for now with a reward system for\nholders.<\/p>\n\n\n\n

Soon\nit will be implemented on Polkadot network, too.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Sounds\ngreat!!<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Thanks\n:blush:<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

it’s\nreally very interesting!<\/p>\n\n\n\n

please\ntell us a few words about yourselves and how did you get to be\ninvolved in Defiance.<\/p>\n\n\n\n

This\nis a very young project<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

I\nhave invested\/participated in various projects for many years. I know\nthe entire Defiance team for many years.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Do\nyou have a big team?<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Personally,\nmy profession is directly related to technology. I can say the same\nfor the whole team.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

And\nwhat’s your role now in Defiance?<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

I.E.\nEric is an engineer, Chloe is a computer scientist, Giorgio is a\nmarketeer.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

:clap:<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

I\nam responsible for service design. I also have research and\ndevelopment responsibilities for the future of Defiance, too.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

This\nis impressive. Real professionals.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Got\nit. Thank you<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Do\nyou wish to remain anonymous?<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Thanks.\n:blush:<\/p>\n\n\n\n

We\nprefer to stay that way right now. For Defiance.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

:+1:<\/p>\n\n\n\n

Thanks\nfor the introduction, we will have a question selected for the Part\n1. ready to start?<\/p>\n\n\n\n

Or\nyou want to add something?<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Yes,\ntyping write now. 🙂<\/p>\n\n\n\n

Being\nanonymous is critical for us. Here is why.<\/p>\n\n\n\n

We\nare aware of the difficulties of giving a new impulse to the\nblockchain world. If we publicly publish our credentials, we think it\nwill prevent us at some point from doing what we want to do.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

I\nunderstand you. it’s your right.<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

When\nwe say what we want to do, it is not grabbing the cash and running\naway of course. We are trying to build a decentralized project that\nhas a governance model and that will function as a successful DAO. In\nthe long run, it won\u2019t matter who the team members are but the\nproject will be run by the DAO that will be built as a part of this\nproject. Our identities do not matter in this context. We are a\nleaderless structure, consisting of people who are fed up with the\ninfinite number of scams, rugs, incompetent projects that raise\nmillions of dollars and do nothing. Hence, our name: \u201cDefiance\u201d.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

:clap::clap::clap:<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

You\nmust have been following the latest events in the crypto world for\nthe past 10 days. What happened to the public team projects? It\ndidn\u2019t prevent them from scamming thousands of people and running\naway with their funds. There are also so-called public teams with\nfake Linked-In profiles. PAMP, BLV, WALT to name a few.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Thank\nyou for such an emotional speech!:blush:<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

I\nam not saying that being public is not a good thing, but it is\nsomething one shouldn\u2019t only focus on so blindly to evaluate the\nlegitimacy of a project.<\/p>\n\n\n\n

You\nknow better than us that this year there has been a paradigm shift in\ndoing due diligence for choosing the projects to invest in. In 2017,\nthe first things one would look at were the whitepaper, then the team\nmembers and their LinkedIn profiles, and so on.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

You\nare right<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

It’s\nok!:+1:<\/p>\n\n\n\n

Everything\nis clear to me. Can we proceed?<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

We\nare not a quick cash grab project. If we were, we wouldn\u2019t have a\nprivate sale that lasted for a little more than 1 month, we wouldn\u2019t\nhave a Github for our own code, but rather an automatically generated\nERC20 token. We wouldn\u2019t have bothered to design a beautiful\nwebsite, which also has a dedicated sales platform working with\nMetamask. We wouldn\u2019t have developed a staking platform for it. We\nwould have gone with a less ambitious ETH raise, we wouldn\u2019t have\nbothered to do a private sale. But we are here for the long run. We\nare here to stay. We wanted to make this raise in order to pass this\nphase and get it over with so that we can focus on our long-term\nplans and focus on developing and delivering our vision. We don\u2019t\nwant our project to be a still-born that loses its hype on Day #1.<\/p>\n\n\n\n

I\nunderstand that you also wouldn’t want to jeopardize your reputation\nfor endorsing an anon team’s project. But we are not 100% anon. We\nhave just recently sealed a deal with a reputable blockchain\ninstitution. You can check them out here: https:\/\/www.bitbrain.ch\nand https:\/\/www.bitbrainacademy.com\/en\/about-us\/<\/a>\n\n<\/p>\n\n\n\n

Erik (Defiance Developer)<\/strong><\/p>\n\n\n\n

@wearedefiance\nAllways speaks a lot and writing long sentences… :joy:<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

\ud83d\ude42<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

:sweat_smile:<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

They\nare going to be advising the project for the long term objectives\nahead in terms of network, marketing, and auditing needs as well as\nthe recruitment processes of developers for the future integration\nneeds. They also run an education institute and our team members are\ngetting trained and they will get certified by this institute as\nwell.<\/p>\n\n\n\n

Chloe @ Defiance<\/strong><\/p>\n\n\n\n

Charlie\nlikes to talk about this issue, he is very passionate about it \ud83d\ude00 he\ncan go on and on about this<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

The\nend. 🙂<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Part\n1 now? \ud83d\ude42<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Yes,\nplease. 🙂<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Q1 from Telegram Username @brodzonl<\/em><\/p>\n\n\n\n

In\ncase the hard cap is not reached, ~48% of the ETH collected from the\nsale will be added as liquidity to the Uniswap Pool. In any case, the\nfunds in the pool will be locked.<\/p>\n\n\n\n

What\nhappens if Hard cap is reached, how much precents is going to be\nadded as liquidity on Uniswap? In case of not reaching Hard cap what\nwill happen to unsold tokens? What is your progress with presale for\nnow?<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

@defiqueen\nyour turn. 🙂<\/p>\n\n\n\n

Chloe @ Defiance<\/strong><\/p>\n\n\n\n

Charlie,\nI would like to answer this one so that your fingers can get a little\nrest<\/p>\n\n\n\n

Right!<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Haha,\nyou know me well. 🙂<\/strong><\/p>\n\n\n\n

Chloe @ Defiance<\/strong><\/p>\n\n\n\n

Thank\nyou @brodzonl for this question :relaxed: \n<\/p>\n\n\n\n

The\npercent of liquidity to be added will remain the same. In case the\nhard cap is reached, we will be ready to provide a fat Uniswap\nliquidity of 1,500,000 DEF tokens + ~2,205 ETH for liquidity. In case\nthe hard cap is not reached, we are going to provide the 48% of\nraised ETH during our Private Sale + Public Sale round(s). This\nliquidity will be immediately locked upon listing and liquidity lock\nproof will be shared with our community.<\/p>\n\n\n\n

If\nthe hard cap is not reached until the 24th of November, then we are\ngoing to burn all the unsold tokens before listing. The presale is\ngoing well at the moment. Crypto Twitter has started to talk about us\nand we are welcoming more and more people in our Telegram community.\nUntil now, more than 300 ETH have been raised during the public sale,\nalong with the private sale round, we are close to more than 750 ETH\nraised as of now. We are anticipating people to contribute as the end\nperiod of the sale approaches.<\/p>\n\n\n\n

You\ncan actually observe the transaction yourself by looking at the\nEtherscan of our token tracker.<\/p>\n\n\n\n

This\nis the beauty of blockchain. Even though we explain things and\nconvince you about your potential concerns about the project, it is\nthe best practice which I am applying in my personal life: “Don’t\ntrust, verify!”<\/p>\n\n\n\n

Can\nyou guys pass the Etherscan link for the community to track it\nthemselves?<\/p>\n\n\n\n

Giorgioadmin<\/strong><\/p>\n\n\n\n

https:\/\/etherscan.io\/address\/0x69079912350b1eaaf1cd5e69b40a4858d47a5ebc\/<\/a><\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Thank\nyou!<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Thanks\nfor sharing:+1:<\/p>\n\n\n\n

Chloe @ Defiance<\/strong><\/p>\n\n\n\n

I\nhope this answers your question 🙂,<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Thanks\nChloe!:+1:<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

I\nthink it is clarified. No questions for me<\/p>\n\n\n\n

Thanks\n:))<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Good\nanswer!<\/p>\n\n\n\n

Chloe @ Defiance<\/strong><\/p>\n\n\n\n

You\nare very welcome! Thank you for the opportunity to address this<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Ready\nfor Q2? Or do you want to add something?<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Yes,\nplease.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Q2 from Telegram user @b_dima <\/em> <\/p>\n\n\n\n

Every\ntransaction will burn 5% of tokens. It is quite high, don’t you\nthink? You incetivize people holding the token in one wallet instead\nof sending it because the transaction fee is too high<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

I\nlove this question<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

As\nwe have answered in the first question, the token is designed to burn\n2.5% of each tx for good. And the remaining tokens are going to be\nrewarded to the participants of the staking pool.<\/p>\n\n\n\n

Erik (Defiance Developer)<\/strong><\/p>\n\n\n\n

Let\nme give you some details about the staking portal. You need to stake\nat least 1,000 DEF in order to participate in the staking program.\nYou will be able to see your staked amount and accrued rewards on the\nstaking interface once it goes live with the Uniswap listing. There\nis no penalty for withdrawing the reward DEF that you have earned but\nthere is a penalty of 5% if you would like to withdraw your staked\namount of DEF tokens if you decide to leave the pool.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Any\nreasons of this token burn? Is it to make the token more exclusive?<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Since\nwe are planning to have a governance feature in the next quarters,\nwhich can also be seen on our roadmap, the question of this\ndeflationary feature, the burned amount, is it going to be like this\nforever or will it stop being deflationary when a certain block is\nreached can be decided by the stakeholders and the proposals they are\ngoing to give in the governance platform. A more detailed staking\nguide will be published on our website and social media channels once\nour staking program is live.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Thank\nyou. Everything clear<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Definitely!<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Great\nidea then :))<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Q3 from Telegram Username @yzmoney<\/em><\/p>\n\n\n\n

Defiance\nwants to archive a deflationary token by having a 5% burning\nmechanism with address-to-address transaction. Will this burn rate\nstops when it drops to a certain amount of token ? can you describe\nabout your staking program as this is not explained in the website.<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

And\n@LuisMe7 this is a first for the Polkadot Network. This is also very\nimportant.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Love\nit<\/p>\n\n\n\n

Chloe @ Defiance<\/strong><\/p>\n\n\n\n

actually\nthis question is somewhat similar that has been addressed here.<\/p>\n\n\n\n

as\nfar as the last part of this question is concerned since we are\nplanning to have a governance feature in the next quarters, which can\nalso be seen on our roadmap, the question of this deflationary\nfeature, the burned amount, is it going to be like this forever or\nwill it stop being deflationary when a certain block is reached can\nbe decided by the stakeholders and the proposals they are going to\ngive in the governance platform. A more detailed staking guide will\nbe published on our website and social media channels once our\nstaking program is live.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Yep,\nanything else to clarify It?<\/p>\n\n\n\n

Chloe @ Defiance<\/strong><\/p>\n\n\n\n

Sorry,\nI am not typing as fast as Charlie :see_no_evil:<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

When\nwill your staking program be launched?<\/p>\n\n\n\n

Giorgio<\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Thank\nyou Giorgio!!! :relaxed:<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

don’t\nworry Chloe! :blush:<\/p>\n\n\n\n

Thanks!<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Q4?\n\ud83d\ude09<\/p>\n\n\n\n

Erik (Defiance Developer)<\/strong><\/p>\n\n\n\n

the\nstaking program will start within a few days, we are aiming for it go\nlive before the uniswap listing so that the stakers will benefit from\nthe initial tx.s during the first listing period.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Looking\nforward to it<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Yes!\ntell Satoshi Clubbers about it!<\/p>\n\n\n\n

Chloe @ Defiance<\/strong><\/p>\n\n\n\n

Very\nexciting times ahead indeed!<\/p>\n\n\n\n

Charlieadmin<\/strong><\/p>\n\n\n\n

Shoot\n🙂<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

No\ndoubt!:rocket:<\/p>\n\n\n\n

Q4 from Telegram Username @cengizhantekin<\/em><\/p>\n\n\n\n

During\nor after the private sale, you have reserved about 118.000 DEF tokens\nfor a special reason, why? Which part of the token allocation is it\ntaken from? When will you release them? Who will be able to purchase\nthem in what ways?<\/p>\n\n\n\n

Chloe @ Defiance<\/strong><\/p>\n\n\n\n

Charlie\ncan you get this one please?<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Okay\n🙂<\/p>\n\n\n\n

Thank\nyou @cengizhantekin for this question. 🙂<\/p>\n\n\n\n

Nowadays,\ncoming up with a new project is a tough challenge for both the\nproject team and the potential investors of the project. This\nchallenge intensifies enormously especially when the team is\nanonymous. We have some solutions to overcome this trust issue,\nstep-by-step.<\/p>\n\n\n\n

As\na result of numerous rug pulls and soft exit scams of many other\nprojects, potential participants are hesitant to attend a presale as\none might expect. Questions such as \u201cAre they ever going to get\nlisted?\u201d, \u201cAre they going to pull the rug even if they get\nlisted?\u201d, \u201cWhen are they going to lock the liquidity?\u201d, \u201cWhat\nif some whale has purchased the majority of the tokens at the private\nsale price and he\/she dumps on us?\u201d\u2026These are all legit and\nappropriate questions and concerns.<\/p>\n\n\n\n

During\nour private sale process, we tried our best to mitigate these\npotential threats that would damage the project and harm our early\nbelievers. The participants of the private sale have been\ncherry-picked and a personal cap of sold tokens to each individual\nhas been applied. Apart from a very few exceptions, private sale\nparticipation was capped at 10 ETH per person.<\/p>\n\n\n\n

Chloe @ Defiance<\/strong><\/p>\n\n\n\n

Let\nme also contribute to this question with some more context:<\/p>\n\n\n\n

During\nour private sale process, we tried our best to mitigate these\npotential threats that would damage the project and harm our early\nbelievers. The participants of the private sale have been\ncherry-picked and a personal cap of sold tokens to each individual\nhas been applied. Apart from a very few exceptions, private sale\nparticipation was capped at 10 ETH per person.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

@wearedefiance\nBtw what is the min\/max to buy on Sale?<\/p>\n\n\n\n

Chloe @ Defiance<\/strong><\/p>\n\n\n\n

As\nfor clarifying the second part of the question: some parties wanted\nto participate in the private sale but had the above-mentioned\nconcerns in their minds. We have offered them an allocation\nreservation and an option to buy after they are 100% sure that DEF\ngets listed. For this purpose, an allocation of ~118,000 DEF is being\nkept as reserved tokens and if the potential participants decide to\nbuy them upon our partnership and listing announcements, they have\nthe right to do so. But in order to protect the early believers of\nthe project and the public sale and Uniswap participants, their\ntokens won\u2019t be directly available to trade on the first day of\nlisting.<\/p>\n\n\n\n

Erik (Defiance Developer)<\/strong><\/p>\n\n\n\n

Charlie\nis writing and writing again… Let me answer this \ud83d\ude42<\/p>\n\n\n\n

There\nisn’t any min or max limit for public sale.<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Some\nparties wanted to participate in the private sale but had the\nabove-mentioned concerns in their minds. We have offered them an\nallocation reservation and an option to buy after they are 100% sure\nthat DEF gets listed. For this purpose, an allocation of ~118,000 DEF\nis being kept as reserved tokens and if the potential participants\ndecide to buy them upon our partnership and listing announcements,\nthey have the right to do so. But in order to protect the early\nbelievers of the project and the public sale and Uniswap\nparticipants, their tokens won\u2019t be directly available to trade on\nthe first day of listing. These tokens will be released once the\ntoken reaches its just price appreciation and they will not be moved\nfor at least 1 month. If they decide to buy those tokens after DEF is\nlisted on Uniswap, they need to send the corresponding ETH to our\nprivate sale address. But as a penalty for being a little skeptical\nabout participating in the private sale round before it gets listed\non Uniswap, they won’t be able to have control over their tokens for\nat least 1 month and they won’t be able to utilize their tokens for\nthe staking program to receive staking rewards. This is only fair and\nit protects our early investors and public sale buyers. A\ntransparency report, containing all the wallets will be provided on\nour website and medium, you will be able to observe and track the\nmovements of those wallets yourself.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

I\nlove AMAs that have many guests, info is raining every sec :))<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Haha,\nthanks Erik!<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Thanks:+1:<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

:clap:<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Team\nspirit:grin::+1:<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

No\nquestions at all for this one. Very complete answer. Thank you guys!!<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Can\nwe proceed?<\/p>\n\n\n\n

To\nthe next question?<\/p>\n\n\n\n

Erik (Defiance Developer)<\/strong><\/p>\n\n\n\n

Yes\nplease!<\/p>\n\n\n\n

Gold Rocket | Satoshi Clubn<\/strong><\/p>\n\n\n\n

Q5 from Telegram Username @magic2crypto<\/em><\/p>\n\n\n\n

Your\nPolkaBridge GitHub is empty so far and i don\u2019t see erc20 tokens\nallocated to support work of ERC20 Polkadot Bridge, to provide it\u2019s\nliquidity, etc. Could you disclosure this step of your roadmap more\ndetailed? Will you migrate completely to Polkadot with 1:1 swap? Or,\nwill you create additional assets in Polkadot ecosystem to provide\nthe liquidity for the bridge? Or, will you reallocate some qty of\nerc20, by reducing Uniswap pool for instance? Or,which other way?<\/p>\n\n\n\n

Erik (Defiance Developer)<\/strong><\/p>\n\n\n\n

Thank\nyou for your question @magic2crypto \n<\/p>\n\n\n\n

Yes\nour repo about the Polkadot side of the project is not open to public\nright now. We are not talking about fully swapping into another\nnetwork completely and leaving Ethereum behind. What we\u2019re are\ninterested about is the interoperability between the Polkadot and\nEthereum Networks. We are planning to have a bridge on Ethereum <>\nPolkadot Networks in order to reduce costs of each transaction and\nbalance the load on the Ethereum side of things while doing so.<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Quoting\nfrom the previous question that have been asked here recently, our\nplan about adding liquidity is as follows:<\/p>\n\n\n\n

In\ncase the hard cap is reached, we will be ready to provide a fat\nUniswap liquidity of 1,500,000 DEF tokens + ~2,205 ETH for liquidity.<\/p>\n\n\n\n

In case the hard cap is not reached, we are going to provide the 48% of raised ETH during our Private Sale + Public Sale round(s). This liquidity will be immediately locked upon listing and liquidity lock proof will be shared with our community.<\/p>\n\n\n\n

Giorgio<\/strong><\/p>\n\n\n\n

This\ninformation about how the remaining raised ETH will be utilized\naccording to the following parts. I’m pasting this bullet points from\nour telegram group pinned message for your convenience:<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Liquidity\nwill be on fire :fire:<\/p>\n\n\n\n

Giorgio<\/strong><\/p>\n\n\n\n

The\nremaining ETH raised will be used for the following purposes:<\/p>\n\n\n\n

:sun_with_face:\nTo provide liquidity for the other DEXes apart from Uniswap,<\/p>\n\n\n\n

:sun_with_face:\nTo be used for the integrations with the Polkadot and other possible\nchains,<\/p>\n\n\n\n

:sun_with_face:\nFor the collaborations and partnerships to be established in the\ncrypto ecosystem for providing an added value to the project,<\/p>\n\n\n\n

:sun_with_face:\nFor the advantages and perks that will be provided to DEF holders\nthroughout this long journey,<\/p>\n\n\n\n

:sun_with_face:\nTo reward community efforts and compensate the hard work given behind\nthe scenes by the people with different roles.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

I\nlove that you have clear ideas on where to invest the money! :))<\/p>\n\n\n\n

Ready\nfor the last question for part 1?<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

thanks\nfor the extensive answer<\/p>\n\n\n\n

Charlieadmin<\/strong><\/p>\n\n\n\n

Thank\nyou. 🙂<\/p>\n\n\n\n

Our\ninvestors have believed in this project and trusted us with their\nhard earned ETH.<\/p>\n\n\n\n

It\nis only fair that we don’t spend these funds relentlessly.<\/p>\n\n\n\n

Chloe @ Defiance<\/strong><\/p>\n\n\n\n

Bring\nit oooon :+1:🏻:+1:🏻:+1:🏻<\/p>\n\n\n\n

Gold\nRocket | Satoshi Clubadmin<\/strong><\/p>\n\n\n\n

Q6 from Telegram Username @JimJammers<\/em><\/p>\n\n\n\n

According\nto the literature, Defiance rewards holders for holding. Is there a\npenalty (expressed or not) if one decides to liquidate besides the\ntax described in the same literature?<\/p>\n\n\n\n

Chloe @ Defiance<\/strong><\/p>\n\n\n\n

let\nme get this one<\/p>\n\n\n\n

Thank\nyou @JimJammers for this question. As we previously answered the\nquestion about the staking program, the rewards the stakers will\nreceive will not be penalized if they decide to withdraw the\ncollected rewards.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n

Feel\nfree<\/p>\n\n\n\n

Chloe @ Defiance<\/strong><\/p>\n\n\n\n

This\nis done automatically in the code with the whitelisting feature. The\nonly penalty you have here is for withdrawing the staked DEF and it\nis the same tax as if making a tx of buying\/selling\/transferring your\nDEF tokens.<\/p>\n\n\n\n

Again,\nthe 2.5% of these unstaked tokens will be burned for good and the\nremaining 2.5% of these tokens will be redistributed to the reward\npool for the stake program participants. So you are being rewarded by\nstaking your tokens and keeping them out of circulation. If you\ndecide to become a whale, this penalty is needed in order for it to\nbe fair for the other stakers with any amount of tokens >= 1,000\nDEF.<\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

Thanks,\nChloe. 🙂<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong><\/p>\n\n\n\n

Anything\nto add? :))<\/p>\n\n\n\n

Chloe\n@ Defianceadmin<\/strong><\/p>\n\n\n\n

I\nthink we are ready for the part 2, looking forward to a flood of\nquestions :blush:<\/p>\n\n\n\n

Part\n2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n

Q1 from Telegram Username @KeymerS<\/em><\/p>\n\n\n\n

Currently\nthey only maintain a partnership with BitBrain, that would be the\nonly company in which they could trust that if the project is real,\nbut why not put more personal information about the team or more\ndetails of the company? or where can i get it?<\/strong><\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

This\nquestion has already been addressed comprehensively here. Please\nrefer: https:\/\/t.me\/Satoshi_club\/411462\/<\/a>\n\n<\/p>\n\n\n\n

Q2 from Telegram Username @DiegoRME<\/em><\/p>\n\n\n\n

When\nI send the desired amount of ETH to buy from your DEF tokens, would\nit be immediate that we would receive our corresponding tokens or do\nwe have to wait for a period of time?<\/strong><\/p>\n\n\n\n

Giorgio<\/strong><\/p>\n\n\n\n

This\nis all tied to our smart contract. You will be immediately and\nautomatically receiving your tokens in your wallet once the ETH tx\nclears. So you don’t have to wait for your beloved DEF tokens. You\nneed to add them to your wallet as custom token using this address:\n0x90e6E082B0aa4bf6AFBA0d11163d920A534EBae4.<\/p>\n\n\n\n

Q3 from Telegram Username @BERTA2020<\/em><\/p>\n\n\n\n

The\npercentage of your staking system varies depending on the amount\nentered in it or is it fixed for any amount?<\/strong><\/p>\n\n\n\n

Erik<\/strong><\/p>\n\n\n\n

As\nwe have addressed this question about the staking mechanism, the\npercentage remains the same. 2.5% of every tx goes to the reward pool\nand it will be sent to the stakers proportional to their stake\namount. As an example scenario: Let’s say there is a TX involving the\ntransfer of 10,000 DEF. 2.5% of this amount which is 250 DEF tokens\nwill be burned for good. The other 2.5% will be rewarded to stakers,\nwhich is also 250 DEF. \n<\/p>\n\n\n\n

Let\nsay what Alice has staked makes the 10% of the total staking pool.\nAlice will receive 10% of this 250 DEF which is 25 DEF. I hope this\nmakes it clear.<\/p>\n\n\n\n

Q4 from Telegram Username @Thiexzoro<\/em><\/p>\n\n\n\n

Can\nyou give me the current price of $DEF and the pre-sale price? So I\ncan compare and compare and decide to buy more or less? Can $DEF be\nused to hold or burn<\/strong><\/p>\n\n\n\n

Giorgio<\/strong><\/p>\n\n\n\n

Private\nSale Price: 1.350 DEF\/1 ETH (Closed)<\/p>\n\n\n\n

Public\nSale (Round1) Price: 1.150 DEF\/1 ETH (Live)<\/p>\n\n\n\n

Public\nSale (Round2) Price: 1.000 DEF\/1 ETH (Not started)<\/p>\n\n\n\n

Uniswap\nListing Price: 680 DEF\/1 ETH<\/p>\n\n\n\n

Q5 from Telegram Username @JuanSB07<\/em><\/p>\n\n\n\n

Lately,\nmany projects and (most of all) DeFi protocols start under ETH’s\nERC20 network, but they always clarify that in a later time they will\nchange to another chain, in Defiance it will be polkadot for the\ninterconnection of chains, but why start with ETH? why not start\ndirect with the desired chain?<\/strong><\/p>\n\n\n\n

Erik<\/strong><\/p>\n\n\n\n

Polkadot\nwill not be the only chain that this project will be on. It will\nco-exist between different chains actually. That’s why we would like\nto utilize the nice interoperability features of the Polkadot\nNetwork. We are also not blockchain biased at any point and we are\nalso considering other blockchains that might be beneficial to\nDefiance, we are taking a closer look at the Avalanche protocol\n(AVAX) for example. We have started developing this platform on the\nEThereum Network to utilize the popularity and volume that the DEXes\nhave at the moment. Hopefully, in the near future, other blockchains\nwill also have nice and high volume DEXes.<\/p>\n\n\n\n

Q6 from Telegram Username @BJosefina61<\/em><\/p>\n\n\n\n

In\naddition to the Uniswap listing, is there a clear path to the\nDefiance listing on CEX?<\/strong><\/p>\n\n\n\n

Giorgio<\/strong><\/p>\n\n\n\n

Our\ninitial plan and focus is getting listed on Uniswap. Then we are\ngoing to use the raised amount of ETH, apart from the Uniswap to\nprovide liquidity for the other DEXes apart from Uniswap. When it\ncomes to listing on CEXes, it needs to benefit both the vision of the\nproject and its investors. So it needs to be integrated with the\ndeflationary feature. However, this is just the beginning plan for\nQ4, 2020. As you might have already checked, the project aims to\nbecome a DAO in the next quarters, which will be led by the token\nholders. Then they will have a say on the future plans of the\nproject.<\/p>\n\n\n\n

\u2014\u2014\u2014\u2014\u2014\u2014\u2014-<\/p>\n\n\n\n

To\nsummarize it, we do not close the doors tightly shut for CEX listing\nopportunities, but we are not going to do it until it really has a\nmeaning and benefit for our community.<\/p>\n\n\n\n

Q7 from Telegram Username @Ayh406<\/em><\/p>\n\n\n\n

How will Polkadot contribute to your project in the future? Which features of Polkadot do you like?<\/strong><\/p>\n\n\n\n

Chloe @ Defiance<\/strong><\/p>\n\n\n\n

Polkadot\nNetwork is one of the most robust platforms in the cryptosphere due\nto its security, speed, flexibility, and working capacity between\ndifferent networks. In this context, Polkadot Network will provide\ngreat potential for the project.<\/p>\n\n\n\n

We\nare not talking about fully swapping into another network completely\nand leaving Ethereum behind. What we\u2019re are interested about is the\ninteroperability between the Polkadot and Ethereum Networks. Polkadot\nprovides transactional scalability by spreading transactions across\nmultiple parallel blockchains. Some of us have witnessed the\nCryptoKitties craze that clogged up the entire Network back in the\nback.<\/p>\n\n\n\n

Today we are running into similar issues with Ethereum Network due to the popularity of DEXes, mainly started with Uniswap mania. When the network is busy, you get a lot of failed transactions, incredibly high gas fees, these are the costs that the buyer side needs to bear. We are planning to have a bridge on Ethereum <> Polkadot Networks in order to reduce costs of each transaction and balance the load on the Ethereum side of things while doing so. Polkadot doesn\u2019t need hardforks to upgrade itself for integrating new features or fixing bugs.<\/p>\n\n\n\n

The Substrate framework development is hassle free and convenient. Also the Polkadot Network has its own governance system which is in line with the vision of our project, which will have governance features where all stakeholders have a say in the very near future. We are also a member of Crypto Valley Swiss and our partner Bitbrain is located at the heart of Zug, neighbors and are in close connections with the web3 foundation. As the phrase goes we are in the position to rub shoulders with them, although we do not rub shoulders due to Covid-19 restrictions at the moment :blush:<\/p>\n\n\n\n

Q8 from Telegram Username @konditer_rolex<\/em><\/p>\n\n\n\n

I\nread about the steps you took to convince investors to boldly invest\nin Defiance. Of course, you will now voice them for all of us. But I\nwould like you to add some information about who had pre-sale\nprivileges.Who was allowed to buy more than 10 ETH of your tokens in\nOctober?Are there currently blocked accounts or have investors of all\ncategories already received their tokens?<\/strong><\/p>\n\n\n\n

Giorgio<\/strong><\/p>\n\n\n\n

It\nhappened like 1.5 months ago and we have recently closed the private\nsale.<\/p>\n\n\n\n

The\nprivate sale allocations mostly consisted of people\/communities who\nhave contacted us and have proven that they have the potential to\nmake a positive contribution for the long term success of the\nproject. These allocations are capped, so we didn’t allow any whales\nto take hold of the majority of the tokens and kill the project\nbefore it even starts.<\/p>\n\n\n\n

Q9 from Telegram Username @cryptonatorswiss<\/em><\/p>\n\n\n\n

Your\npartnerships and collaborators are based in Switzerland. What is the\nreason for this or do you live in Switzerland?<\/strong><\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

I\nand a few other teammates live in Switzerland, and Switzerland is the\nbest place to start a cryptocurrency venture! \n<\/p>\n\n\n\n

Btw,\ndidn\u2019t you see the photo I took in front of my web3 foundation?<\/p>\n\n\n\n

Q10 from Telegram Username @Pratze<\/em><\/p>\n\n\n\n

Yesterday\nI try to access Defiance website but there is an error in there. What\nhappen to Defiance website? It is still safe to do invest with\nDefiance ?<\/strong><\/p>\n\n\n\n

Erik<\/strong><\/p>\n\n\n\n

Our\nsystems have undergone an intense DDOS attack yesterday, during the\nfirst day of the public sale and the network where our website was\nbeing hosted become clogged and unable to respond. As we were trying\nto tackle with this challange, we have received some private messages\nand offers from some parties, offering their services to stop this\nDDOS attack. We have not given in to these extortions. They wanted us\nto pay them some ETH to stop this attack. We do not want to endorse\nthis kind of threats in the crypto community. For this reason, we\nhave built a system that consists of several different servers with\ncluster and load balancing systems under a new server infrastructure.\nIf a similar attack happens, they need to overcome several security\nmeasures. In addition to that we have 2 more backup servers with the\nsame precautions taken and they are ready to be used as a back up\nsystem.<\/p>\n\n\n\n

It\nis also possible to contribute to our Public Sale directly using the\npublic sale token contracts, which is described in our Buying guide\nhere: \n<\/p>\n\n\n\n

https:\/\/sale.def.finance\/doc\/DEF-BUYING-GUIDE.pdf\/<\/a><\/p>\n\n\n\n

Charlie<\/strong><\/p>\n\n\n\n

We\nwould like to thank you for giving us this opportunity and the\ncommunity for asking these amazing questions.<\/p>\n\n\n\n

Since\nwe had limited time here, we didn’t have the chance to answer all of\nyour questions.<\/p>\n\n\n\n

However,\nwe are always here for your questions and we will be more than happy\nto answer those in our Telegram group after this AMA.<\/p>\n\n\n\n

Last\nbut not least our public sale is still alive until the 24th of of\nNovember 17:00 UTC :relaxed:<\/p>\n\n\n\n

Part\n3 \u2013 Quiz Results<\/strong><\/h2>\n\n\n\n

As\nusual, for the third part, Satoshi Club Team asked the chat 4\nquestions about the crypto project. A link to a Quiz form was sent\ninto the chat.<\/p>\n\n\n\n

For\nmore information and future AMAs, join our Social Media channels:<\/strong><\/p>\n\n\n\n

English\nTelegram group: https:\/\/t.me\/Satoshi_club\/<\/a>\n\n<\/p>\n\n\n\n

Russian\nTelegram group: https:\/\/t.me\/satoshi_club_ru\/<\/a>\n\n<\/p>\n\n\n\n

Spanish\nTelegram group: https:\/\/t.me\/satoshi_club_spanish\/<\/a>\n\n<\/p>\n\n\n\n

Telegram\nChannel: https:\/\/t.me\/satoshi_club_channel\/<\/a>\n\n<\/p>\n\n\n\n

Twitter:\nhttps:\/\/twitter.com\/realsatoshiclub\/<\/a>\n\n<\/p>\n\n\n\n

Website:\nhttps:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n

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

Telegram:\nhttps:\/\/t.me\/def_finance\/<\/a>\n\n<\/p>\n\n\n\n

Twitter:\nhttps:\/\/twitter.com\/DefianceFinance\/<\/a>\n\n<\/p>\n\n\n\n

Website:\nhttps:\/\/def.finance\/<\/a>\n\n<\/p>\n\n\n\n

Medium:\nhttps:\/\/medium.com\/@defiance\/<\/a>\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"

Hello, Satoshi clubbers another AMA took place at Satoshi Club and we would like to introduce to you the AMA session with our friends from DeFiance. The AMA took place on 21 November 4 PM UTC. The AMA session was divided into 3 parts with a total crypto reward pool of 600$ . In this […]<\/p>\n","protected":false},"author":5,"featured_media":3508,"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\/3504"}],"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\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=3504"}],"version-history":[{"count":2,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/3504\/revisions"}],"predecessor-version":[{"id":3510,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/3504\/revisions\/3510"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media\/3508"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=3504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=3504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=3504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}