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
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PART 1, INTRODUCTION AND COMMUNITY QUESTIONS<\/strong><\/p>\n\n\n\n Gold Rocket | Satoshi\nClub: <\/strong>Hello, dear Satoshi Clubbers! We are pleased to announce our AMA with\nSavix. Today our guests are @mcopper<\/a> and @Anatol93<\/a>.<\/p>\n\n\n\n Anatol Galkina:<\/strong> Hi\nsatoshi club!<\/p>\n\n\n\n Michael Copper |\nSavix.Org: <\/strong>Hey there! thanks for having us.<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>Let’s\nbegin with intro! please introduce yourselves and Savix. 😇<\/p>\n\n\n\n Anatol Galkina: <\/strong>My\nname is Anatol. I have been in crypto since 2012. I have a Master in\nMathematics and Physics. Since 2001 i am working in my own software company.\nWithin Savix i am a solidity coder, mainly responsible for the development of\nthe staking algorithm.<\/p>\n\n\n\n Savix is a self-staking mechanism embedded into the ERC20\nprotocol. One of the main features is a gas-free reward distribution. We were\nwondering if it could be possible to stake and invest a token at the same time,\nthat\u2019s why we created Savix. The gas-free feature is kind of a side effect\nreally.<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>So\nit’s an experimental project?<\/p>\n\n\n\n Anatol Galkina: <\/strong>In\na way that nobody did it before yes. But we took a lot of effort into developing\nthe perfect algorithm and we did simulations extensively. You can find our\nsimulation code in github, also our test code for basic contract audit. Shall i\nexplain some fundamentals about protocol embedded staking now?<\/p>\n\n\n\n The magic: token balances are kept as a percentage of the\ntotal supply internally, not as absolute numbers. This way we can adjust the\ntotal supply following a mathematical algorithm without the need of transfers.<\/p>\n\n\n\n Once we output for example “getBalance” function,\nwe turn this percentage into a absolute number all this can be seen again on\ngithub in our savix.sol source code, a separate contract is responsible for the\ncalculations separate library to be exact.<\/p>\n\n\n\n Q1 from Telegram\nUsername @ovkneze_big<\/strong><\/p>\n\n\n\n You decided to do\npre-sale on Savix platform. How safe it is? I am usually very careful when\nconnecting my Metamask to different sites. If i am afraid to connect it can i\nchoose another way to purchase $SVX tokens?<\/em><\/p>\n\n\n\n Anatol Galkina: <\/strong>You\ncan purchase directly with any wallet by sending ETH directly to our presale\ncontract. you can find instruction on our dapp page:\nhttps:\/\/savix.org\/presale\/dapp. Our DApp is only for user convenience.<\/p>\n\n\n\n Our presale contract is also on github, and on etherscan\ncode is visible and verified https:\/\/etherscan.io\/address\/0xb6b3b7af0a504b746c68ec1016563aa72aff5bf9#code<\/a>\n<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>And\nwhen i can get Savix tokens? right after presale will be finished?<\/p>\n\n\n\n Anatol Galkina: <\/strong>No\nyou get them immediately. but they are transfer locked until the presale ends.\nyou can\u2019t move them.<\/p>\n\n\n\n Gold Rocket | Satoshi\nClub: <\/strong>What goals and objectives do you set for yourself during the\npre-sale?<\/p>\n\n\n\n Anatol Galkina: <\/strong>To\nhave a fair distribution and collect enough funds to further develop our\necosystem and create a healthy uniswap pool.<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>Wow,\nmore than enough time. usually project trying to finish sale asap.<\/p>\n\n\n\n Anatol Galkina: <\/strong>Yeah\nwe are developers focusing on the product. actually we have a lack of marketing\nknowledge. we discussed a lot internally if we should have aimed for a shorter\none to create more fomo. Our goal was mainly to create a good product and that\nwe deliver.<\/p>\n\n\n\n Q2 from Telegram\nUsername @Highpee<\/strong><\/p>\n\n\n\n One of the attribute\nof Savix is that scarce, fair, Trustworthy and transparent. However, I\ndiscovered that the team is anonymous. Can we trust an anonymous team to be\noperate Savix in a transparent manner? Also, from your FAQ, you answered the\nquestion of audit by assuring that the Savix contract has passed an \u201cinternal\naudit\u201d and you can guarantee investors safety from any form of contract\nmisbehaviour. Don\u2019t you think it will be more transparent to employ an external\naudit to ascertain the risk level of your contract in order to be fair,\ntransparent and boost investors confidence and trust in your project?<\/em><\/p>\n\n\n\n Anatol Galkina: <\/strong>We\nare thinking about an external audit if we collect enough funds. About the\nanonymity.<\/p>\n\n\n\n For now our team stays anonymous, because we cannot\nsufficiently assess the legal situation concerning token sales at the moment.\nRules about token sales differ for different countries and are changing\nsteadily. Recently British authorities have forbidden any business related to\ncryptocurrencies, for example. And even though we sought legal advice and\ndefined our sales terms accordingly we cannot be sure to have met all\nrequirements for all participants and that everybody is correctly respecting\nthe local laws he or she has to follow.<\/p>\n\n\n\n Currently especially the assessment whether a token is\nconsidered to be a so-called security or not can make a huge difference for the\nissuer of a token with significant personal consequences, as soon as we receive\nthe green light from our legal advisers we will decide about revealing our\nidentities to the public again. This is not a situation we are happy with. And\nwe try to compensate for our anonymity by putting a special focus on\ntransparency and trust building.<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>Why\ndid you decide to conduct token sale before external contract audit? maybe your\ncontract has some critical issues?<\/p>\n\n\n\n Anatol Galkina: <\/strong>funds!\nwe developed the project in our free time. Our internal audit follows the same\nrules as external audits do you can find details in our audit paper (link\nfollows in a sec).<\/p>\n\n\n\n Gold Rocket | Satoshi\nClub: <\/strong>By the way, how big is your team? How many people? Do you have an\noffice or do you work remotely, as many do during COVID?<\/p>\n\n\n\n Anatol Galkina: <\/strong>A\ngood external audit is expensive. we can get a cheap one, but we think thats\nlike cheating the community. https:\/\/savix.org\/wp-content\/uploads\/2020\/11\/SAVIX-Security-Audit.pdf<\/a>\n<\/p>\n\n\n\n We have 4 people working on the project, part remotely, but\nwe also meet up because 3 of us are real life friends.<\/p>\n\n\n\n Q3 from Telegram\nUsername @apocan99<\/strong><\/p>\n\n\n\n You are introducing a\nnew staking model called Protocol Embedded Staking (PES). How does \u201cembedded staking\u201d\nwork? What are the advantages compared to regular staking? Your token is ERC-20\na known and widely used one, then what is different in your system that helped\nyou create this PES model?<\/em><\/p>\n\n\n\n Anatol Galkina: <\/strong>We\ncan paste a picture for this one, hold a sec.<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>As\na completely new crypto user, which unfamiliar with things like Uniswap, what\nkind of benefits i can get from your project? will it be easy for me to use all\nfeatures? or your project more for mature crypto users?<\/p>\n\n\n\n Anatol Galkina: <\/strong>You\njust buy and hold it, each time you open your wallet your balance will increase.\nDoes it get any easier?<\/p>\n\n\n\n More experienced users can then take the token and put it\ninto other defi projects simultaneously, like uniswap, or our upcoming\n“trinary” DApp.<\/p>\n\n\n\n Q4 from Telegram\nUsername @meml97<\/strong><\/p>\n\n\n\n Could you explain a\nlittle better how Savix can produce 3 passive income streams with Trinary? Will\nthis Trinary Service be some sort of exclusive service for investors or like a\nmembership, or can anyone have access to it? When will it go live?<\/em><\/p>\n\n\n\n Anatol Galkina: <\/strong>Anyone\nwith savix can access it, we have a quick infograph to explain the bit more\ncomplex usage, sec.<\/p>\n\n\n\n 🔹 Uniswap Rewards<\/p>\n\n\n\n There is a 0.3% fee for swapping tokens on Uniswap. This fee\nis split by liquidity providers proportional to their contribution to liquidity\nreserves. It is functioning as a payout to all liquidity providers proportional\nto their share of the pool.<\/p>\n\n\n\n 🔹Staking rewards<\/p>\n\n\n\n In addition, you will earn Savix staking rewards from the\nembedded staking protocol while your tokens get used as liquidity.<\/p>\n\n\n\n 🔹 Trinary rewards<\/p>\n\n\n\n Whenever liquidity is deposited into a uniswap pool, special\ntokens known as liquidity tokens are minted to the provider\u2019s address, in\nproportion to how much liquidity they contributed to the pool. These tokens are\na representation of a liquidity provider\u2019s contribution to a pool. With Savix\n“Trinary” it is possible to deposit savix liquidity tokens for up to\n6 months to receive yet another reward layer: ETH from our ecosystem pool. We\nexpect a return of 7% to 15% of your initial investment directly paid in ETH\nover the first 6 months.<\/p>\n\n\n\n Q5 from Telegram\nUsername @borysfireball<\/strong><\/p>\n\n\n\n \u2018Savix features\ngas-free staking embedded into the ERC-20 protocol. Very easy to use, holders\nreceive staking rewards directly to their wallet without the need of any\ninteraction. \u2018It sounds very attractive, but, as far as I know, there is no way\nto move tokens on the ETH network for free today. So, at whose expense is this\nbanquet? Please explain how this function works in details, because very often\nit turns out that free cheese is just in a mousetrap.<\/em><\/p>\n\n\n\n Anatol Galkina: <\/strong>We\nanswered this in the introduction. we simply do not move the tokens but adjust\nthe fragments (percentage) a user holds of the total supply, we can adjust the\nholdings of all holders at once. But to be fair, the transfer fee of moving svx\ntokens within the network will be higher than for ordinary tokens because those\ntransfers trigger our calculations. but this could also be the incentive not to\nmove the tokens without absolute need, the principle of fragmented\n(percentages) of user balances gets also used in projects like ampleforth.<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>In\nrebase projects?<\/p>\n\n\n\n Anatol Galkina: <\/strong>Yes\nlike in rebase project. but instead of a rebase, we calculate a staking\nalgorithm.<\/p>\n\n\n\n Gold Rocket | Satoshi\nClub: <\/strong>Please tell me, is it true that your protocol is compatible with any\ndefi project? How it works?<\/p>\n\n\n\n Anatol Galkina: <\/strong>Because\nwe 100% follow the erc-20 standard protocol, we do not mint\/burn\/tax on\ntransfers, so we also dont introduce artificial slippage in projects like\nuniswap.<\/p>\n\n\n\n Q6 from Telegram\nUsername @konditer_rolex<\/strong><\/p>\n\n\n\n The project team\ndecided to remain anonymous in order to avoid possible problems with the\nregulatory authorities. This can be understood, now the SEC, having tasted\nRipple\u2019s blood, will look for any reason for legal action. For this reason, I\ndo not understand why you are abandoning the DAO. When project management is in\nthe hands of the community, it\u2019s harder to find to whose address the bailiffs\nshould be sent. To summarize the question: Why did you abandon the DAO\nmanagement form, thereby questioning one of the pillars on which the cryptocurrency\nrests \u2013 decentralization.<\/em><\/p>\n\n\n\n Anatol Galkina: <\/strong>No\nwe do not plan any governance to avoid that Savix will be classified a security\ntoken. At least in the USA the feature of governance alone most likely leads to\nthe SEC classifying a token as security. And this has many consequences a small\nteam like our simply could neither handle nor financially afford. We want to\nclassify our token as a pure currency what makes it decentralized is a pure\ncontract. We do not have any oracles any contract using oracles, is not truly\ndecentralized, because oracles are a key point of possible manipulation or\nfailure.<\/p>\n\n\n\n PART 2, TELEGRAM COMMUNITY LIVE\nQUESTIONS<\/strong><\/p>\n\n\n\n The\nchat was open for 120 seconds; a lot of questions were posted by Satoshi Club\ncommunity. Our guests chose some of them. <\/p>\n\n\n\n Q1 from Telegram User @KASG95<\/strong><\/p>\n\n\n\n I have really been\nscammed in many projects that claimed to be profitable and that generated more\nthan 2% of daily rewards, being so, how to know that Savix will not be a scam?\nOr will it really not keep my capital locked in stakeout? And can I withdraw it\nwhenever I want?<\/em><\/p>\n\n\n\n Anatol Galkina: <\/strong>We\nonly reward 2% in the early phase, our staking algorithm flattens out over time\nto keep it sustainable. to get the perfect balance of rewards and the\ncapability of the market to compensate for the has been one of the biggest\nchallenges while developing our algorithm, that\u2019s why we did so many\nsimulations. You do not need to cash out, rewards automatically appear in your\nwallet. \ud83d\ude09<\/p>\n\n\n\n Q2 from Telegram User @curiosoAMA<\/strong><\/p>\n\n\n\n You comment that all Savix balances\nwill grow up to 3 times the initial investment for the first 5 years,\nWonderful!!!, but after those 5 years what will happen?<\/em><\/p>\n\n\n\n Anatol Galkina: <\/strong>After\n5 years the interest rate per year will be a stable 3-4%.<\/p>\n\n\n\n Q3 from Telegram User @A5loveZ3<\/strong><\/p>\n\n\n\n Tell me where i can buy and hold\nSAVIX?<\/em><\/p>\n\n\n\n Anatol Galkina: <\/strong>https:\/\/savix.org\/presale\/dapp<\/a><\/p>\n\n\n\n Q4 from Telegram User @PyaraLarka<\/strong><\/p>\n\n\n\n What is $Savix limits to participate\nin pre-sale?<\/em><\/p>\n\n\n\n Anatol Galkina: <\/strong>0.1\nETH minimum, 15 ETH maximum.<\/p>\n\n\n\n Q5 from Telegram User @smelekin<\/strong><\/p>\n\n\n\n Do you have any private sale or\nwhitelist for us to sign in?<\/em><\/p>\n\n\n\n Anatol Galkina: <\/strong>No\nprivate sale, no whitelisting.<\/p>\n\n\n\n Q6 from Telegram User @highpee<\/strong><\/p>\n\n\n\n I like the third reward which is\ntrinary reward which reward users who provide liquidity by minting a special\nliquidity token to them based on their liquidity proportion. However, you also\nsaid Trinary reward can give investors a return of 7% to 15% of initial\nliquidity investment directly paid in ETH over the first 6 months. Is the ETH\nthe Liquidity token rewarded to users or this another separate reward?<\/em><\/p>\n\n\n\n Anatol Galkina: <\/strong>The\ninitial 7% we take from the presale. After the first 6 months we will\n“re-fill” trinary with the fees generated from our uniswap liquidity\npool.<\/p>\n\n\n\n Q7 from Telegram User @thoreasy<\/strong><\/p>\n\n\n\n Why should investors trust your\nproject not to do the same While many projects rug pulled and exit scam\nrecently?<\/em><\/p>\n\n\n\n Anatol Galkina: <\/strong>You\ncan never be 100% safe from a rug-pull. they come in many different forms. even\na huge project with tens of millions can “rug-pull” by just not\ndelivering in time or at all. you always have to do your own research and trust\nyour instincts.<\/em><\/p>\n\n\n\n Q8 from Telegram User @KhaleesiTheCryptoLady<\/strong><\/p>\n\n\n\n What are the assurance that you will not get rug pulled? Can you list 3 major reasons why should we invest and participate in Savix presale?<\/em><\/p>\n\n\n\n Q9 from Telegram User @KevSalom<\/strong><\/p>\n\n\n\n This is really the first time I’ve\nheard of a token with this embedded staking mechanics. Was this all designed by\nyou? If so, have you tested it enough to say for sure it is the perfect DeFi\nguarantee?<\/em><\/p>\n\n\n\n Anatol Galkina: <\/strong>We\ntook some basic principles from rebase systems, but the predictable embedded\nstaking mechanic is fully developed by us. we are the first token of that type.<\/strong><\/p>\n\n\n\n Q10 from Telegram User @BlancaSdF<\/strong><\/p>\n\n\n\n Why have you decided to incentivize\nUniswap poolers and how does this benefit the project, how to start?<\/em><\/p>\n\n\n\n Anatol Galkina: <\/strong>Locked\nsavix liquidity tokens will take those SVX from the market for a period of\ntime. this creates a price stabilizing effect which we reward…<\/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 Savix. A link to a Quiz\nform was sent into the chat. Participants had 10 minutes to answer. 300$ were\ndistributed 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 Homepage: https:\/\/savix.org\/<\/a> <\/p>\n\n\n\n Whitepaper: https:\/\/savix.org\/wp-content\/uploads\/2020\/11\/SAVIX_Whitepaper.pdf<\/a>\n<\/p>\n\n\n\n Twitter: https:\/\/twitter.com\/savix_org<\/a> <\/p>\n\n\n\n![\"\"](\"https:\/\/esatoshi.club\/wp-content\/uploads\/sv1-1024x587.jpg\")
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