{"id":7843,"date":"2021-04-06T10:51:09","date_gmt":"2021-04-06T07:51:09","guid":{"rendered":"https:\/\/esatoshi.club\/?p=7843"},"modified":"2021-04-06T10:51:11","modified_gmt":"2021-04-06T07:51:11","slug":"cue-protocol-x-satoshi-club-ama-recap-from-2nd-of-april","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2021\/04\/06\/cue-protocol-x-satoshi-club-ama-recap-from-2nd-of-april\/","title":{"rendered":"CUE Protocol x Satoshi Club AMA Recap from 2nd of April"},"content":{"rendered":"\n

Welcome to another episode of our AMA\nseries. Today we are glad to tell you about the AMA session with our friends\nfrom CUE Protocol<\/a>. <\/p>\n\n\n\n

The aim of CUE Protocol is to build an ecosystem of useful\ndapps which serve crypto projects and also investors.\nThe AMA took place on April 2 and our guest was @cuepio<\/a><\/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\nQUESTIONS<\/strong><\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub:<\/strong> Hello, dear community! We conclude our today’s AMA marathon series\nwith Cue Protocol. We are very glad to conducting AMA with Cue Protocol! Hello\nand welcome to Satoshi Club, @cuepio!<\/p>\n\n\n\n

Cue Protocol: <\/strong>Hi\nthank you for having us. Very busy, the last 2.5 weeks have been a whirlwind,\nbut it’s been great and we are excited.<\/p>\n\n\n\n

Andr\u00e9s M | Satoshi\nClub: <\/strong>Important events coming for cue protocol, right?<\/p>\n\n\n\n

Cue Protocol: <\/strong>Indeed.\nLot’s happening right now, we are currently executing our marketing phase which\nis going very well. We are also deep into building our second dapp, so it’s all\nsystem go right now.<\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub: <\/strong>Please introduce yourself. How did you get to be involved in crypto\n& Cue Protocol?<\/p>\n\n\n\n

Cue Protocol:<\/strong> As\na team we have been around for a while outside of crypto building enterprise\nsolutions for desktop and web as well as iOS and Android. We have been in\ncrypto for a few years but only just had the freedom to execute our ideas which\nwe feel are needed now more than ever. There are two devs and one other who\ndoes all the other stuff, management etc. and we are based in the UK.<\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub: <\/strong>So what is the essence of your project?<\/p>\n\n\n\n

Cue Protocol: <\/strong>CUE\nProtocol is not just another deflationary token.<\/p>\n\n\n\n

The aim is to build an ecosystem of useful dapps which serve\ncrypto projects and also investors. Using these dapps will utilize the token\nthrough holding and payment for using the services. This creates a thriving\ndeflationary system via the 2.5% transaction fee but also with the dapps using\nthe token too. This will generate revenue and add extra funds into the\ngovernance wallet as these service fees are split between governance and\ndevelopment funding. The deflation side comes from burn voting in the\ngovernance wallet. Our second dapp will be a prime example of this kind of\nutility.<\/p>\n\n\n\n

Q1 from Telegram User\n@meml97<\/strong><\/p>\n\n\n\n

One thing that I read\non your website is, I quote: \u201cWe are also giving the full governance wallet to\nour community to decide its fate, not just 50%, 100% of it will be in the users\u2019\nhands\u201d. Can you tell us more about this decision of giving users the will of\ndeciding 100% of Cue Protocol\u2019s fate, how will they be able to do so? Also, how\nwill you avoid this taking a bad turn? I mean, how will you avoid certain\ngroups of bad actors using this to their favor for take advantage of the\nplatform to receive more benefits than others or to make Cue Protocol a\nplatform for bad actions?<\/em><\/p>\n\n\n\n

Cue Protocol: <\/strong>This\nis true, 100% of the governance funds usage are voted on by the holders. We\ncontrol the fate by setting the voting options. We believe there are no options\nwhich can damage the project.<\/p>\n\n\n\n

The options available benefit the project in different ways\nand take the project down a different route depending on the outcome of the\nvote. Also our votes are NOT weighted, meaning if you have 1 CUE or 100 CUE,\nyour vote counts the same. It’s a level playing field democracy.<\/p>\n\n\n\n

Andr\u00e9s M | Satoshi\nClub: <\/strong>Btw, which are the main benefits for holders apart of that one\nmentioned?<\/p>\n\n\n\n

Cue Protocol: <\/strong>Holders\nbenefit from this but also the bi-products of the voting. <\/p>\n\n\n\n

Voting options vary from burn, marketing, development or\neven other ideas such as staking and investing in other cryptos. If they vote\nburn holders would benefit from the price increase over time, the same with\nmarketing and investing in other cryptos if prices increased. Staking benefits\nwould mean interest on holdings. The main benefit is you need CUE to use our\ndapps.<\/p>\n\n\n\n

Q2 from Telegram User\n@johana0012<\/strong><\/p>\n\n\n\n

Projects will be able\nto record information and answer any questions related to their projects, such\nas frequently asked questions, and so on. This will allow all the important\ninformation to be in one place. It will be a one-stop shop for analyzing a\nproject and will make due diligence a breeze. Similarly, will projects be able\nto buy \/ request audits and KYC from this platform?<\/em><\/p>\n\n\n\n

Cue Protocol: <\/strong>Yes,\nthis is about our second dapp which has excited many people. We aim to partner\nwith many other projects including launch pads, RUG investigators, Auditors and\nKYC firms as well as venture capitalists.<\/p>\n\n\n\n

So yes, projects can list and purchase audits and KYC from\nthe platform. This gives projects easy access but also allows us to verify them\nbetter.<\/p>\n\n\n\n

Andr\u00e9s M | Satoshi\nClub: <\/strong>Could you tell us more about your current partnerships?<\/p>\n\n\n\n

Cue Protocol: <\/strong>At\nthe moment we can\u2019t discuss partnerships as talks are ongoing for our second\ndapp which is due in Q2. Many partnerships will be announced as we get the BETA\nready for release.<\/p>\n\n\n\n

The only Easter egg I can give you now, is that our second\nvote starts Monday\/Tuesday and we have a new voting option coming. Holders will\nbe able to vote for staking from the second vote onwards. If this option wins,\nthen holders can stake and earn CUE as rewards from the governance wallet. We\nare also releasing some UI previews of our second dapp very soon.<\/p>\n\n\n\n

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

You say that CUE will\nonly have a circulating supply of 10,000 tokens. In that case will there be a\npublic pre-sale of CUE and how will tokens be distributed?<\/em><\/p>\n\n\n\n

Cue Protocol: <\/strong>So\nCUE can only ever have 10,000 tokens and we cannot mint anymore as proven by\nour audit. Our pre-sale has already ended so the only way to get CUE now is via\nPancakeSwap. Over time as votes happen, holders may vote for burn which will\ndecrease the supply, the supply can never increase.<\/p>\n\n\n\n

Even if staking is voted for, no new tokens are minted like\ntraditional farms, etc. The tokens come from the governance wallet (the 2.5%\ntransaction fees). So we are able to stake and still avoid inflation.<\/p>\n\n\n\n

Andr\u00e9s M | Satoshi\nClub: <\/strong>What are the APR for staking? And can you explain the process to\nstake the tokens? Is it necessary to use the wallet?<\/p>\n\n\n\n

Cue Protocol: <\/strong>We\nare unable to work out the APR until we know the final balance of the governance\nwallet after voting is concluded. We also have to decide on a fixed APR or a\ndynamic one based on number of holders taking part. <\/p>\n\n\n\n

Yes, like many other tokens, you would use your wallet with\nour staking dapp. Staking will have a minimum period.<\/p>\n\n\n\n

Andr\u00e9s M | Satoshi\nClub: <\/strong>So, talking about that amount of tokens, could you tell us about your\ntokenomics? How is the amount of tokens distribution?<\/p>\n\n\n\n

Cue Protocol: <\/strong>Okay\nso our presale was 8,000 tokens and we locked 2,000 into pancakeswap for\nliquidity for 1 year. All tokens have been released and therefore no more token\nreleases can happen. The team did not have any presale tokens.<\/p>\n\n\n\n

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

I read that the second\ndapp is going to help crypto investors avoid potential rug projects and the\ndapp will help investors to make better investment decisions. Do you think is a\ngood idea let to an app make investment decisions? Which is the mechanism it\u2019s\nbased to help? and, what is the guarantee this app will help and not will scam\nusers?<\/em><\/p>\n\n\n\n

Cue Protocol: <\/strong>The\ndapp itself is not making the decision to invest in a project for an investor,\nit is helping the investor make their decision based on the data available. For\ninstance, RUG projects are likely going to avoid listing or if they do, the\ninfo will have holes in it based on what we have collected and our partners\ntoo.<\/p>\n\n\n\n

In the opposite scenario, a legit project is going to list\nand provide much more information willingly, and they are also subject to the\nsame scrutiny from our partners and ourselves. Most people get rugged without\nresearching projects and the term “aping in” has become very\nfashionable to risk money. A simply visit to our dapp will give them a much\nbetter overall picture and allow the investor make a sound decision without\nhaving to trawl the internet, twitter, telegram etc. <\/p>\n\n\n\n

All announcements will be made here: https:\/\/t.me\/cueprotocol<\/a> <\/p>\n\n\n\n

Q5 from Telegram User\n@Beterror203<\/strong><\/p>\n\n\n\n

What type of Pool\nfavors deflation to produce good profits in the short \/ medium and long term on\nyour system, what financing mechanism through deflation can support the market\nso as not to fail in the attempt and offer the investor security of a\nprofitable return on your investment?<\/em><\/p>\n\n\n\n

Cue Protocol: <\/strong>I\nthink this question may be talking about staking on a deflationary platform,\nbut correct me if I’m wrong. Staking can’t happen usually on a deflationary\nplatform, as the tokens can’t come from fresh air. But on CUE it’s different,\n2.5% of each transaction is sent to a treasury wallet, last week for example we\nhad 958 CUE accumulated which was worth $63,000, today that would be $228,000.<\/p>\n\n\n\n

So if voters decided to use the balance of this wallet for\nstaking we can, and it means we are not minting tokens to do it which is\ninflation. The token contract can no longer mint new tokens, 10,000 is the max\nsupply ever. So this is quite unique in terms of a staking mechanism.<\/p>\n\n\n\n

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

Do you have a clear\nprojected financial plan that calculates how many Dapps and tokens of those\nDapps should use on average so that the price of the token has constant growth\nwithout pressure on the price of tokens sold at a profit?<\/em><\/p>\n\n\n\n

Cue Protocol: <\/strong>So\nthe tokenomics for the dapp so far is:<\/p>\n\n\n\n

Voting dapp, this is very simple. In order to make sure only\nholders are voting, you need a minimum amount of USD in CUE to participate. We\ndo not charge CUE to vote, only gas for the network fee but you must hold a\nminimum amount in your wallet. The second and more complex dapp will charge\nservice fees for using the dapp from a project point of view.<\/p>\n\n\n\n

These service fees will be split into two parts:<\/p>\n\n\n\n

1) Extra funds for the governance wallet for voting on top\nof the 2.5% transaction fees.<\/p>\n\n\n\n

2) Revenue for the CUE Protocol developers.<\/p>\n\n\n\n

It’s also worth noting that projects will need to hold CUE\ntoo. We will also accept payment in other cryptos such as BNB to speed up\nadoption of the platform. These will also go to governance and the holders can\nvote to use these tokens like that can CUE. Imagine accumulating 10+ different\ncurrencies in the governance wallet and rewarding the holders via staking with\nthem all. It’s an exciting earning prospect.<\/p>\n\n\n\n

Andr\u00e9s M | Satoshi\nClub: <\/strong>What is that minimum amount?<\/p>\n\n\n\n

Cue Protocol: <\/strong>The\nminimum amount of CUE to vote in the first vote was 2 CUE, but CUE was $25 each\nthen. At the moment the next vote will be around 0.1 – 0.3 CUE. We can also\nchange the minimum amount mid-vote if we need to due to price increases etc.<\/p>\n\n\n\n