<\/p>\n\n\n\n
Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Standard Protocol and our guests were @derrenb00 @TonyLing and @marchzheng. The AMA took place on 12 April.<\/p>\n\n\n\n
The\nAMA session was divided into 3 parts with a total crypto reward pool of 500$ <\/p>\n\n\n\n
In\nthis AMA Recap we will try to summarise the most interesting points for you.<\/p>\n\n\n\n
Mary\n| Satoshi Club:<\/strong> Hello Satoshi Club! We are happy to\nannounce our AMA session with Standard Protocol! Welcome to Satoshi Club😀<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Hello, dear community!<\/p>\n\n\n\n Today our guests are\n@derrenb00 @TonyLing @marchzheng<\/p>\n\n\n\n march\nzheng:<\/strong> hey everyone great to e meet!<\/p>\n\n\n\n lets crush this AMA\ntoday<\/p>\n\n\n\n Dixon\n| Standard Protocol:<\/strong> hi everyone, dixon here. thx for having\nus~<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Hello and welcome to Satoshi Club,\nguys!😀<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Hello, guys! Happy to see you here 👍<\/p>\n\n\n\n march\nzheng:<\/strong> super pumped!<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Let’s go 🚀🚀🚀<\/p>\n\n\n\n And we will start with\nintro😄<\/p>\n\n\n\n Could you please\nintroduce yourself and tell us more about Standard Protocol 🎉<\/p>\n\n\n\n march\nzheng:<\/strong> march zheng here- head of global communications!<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Nice to e-meet you 😀<\/p>\n\n\n\n Dixon\n| Standard Protocol:<\/strong> dixon wong here – product owner<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> 👍<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> BTW How did you get to be involved\nin crypto & Standard Protocol?<\/p>\n\n\n\n Dixon\n| Standard Protocol:<\/strong> after you @marchzheng<\/p>\n\n\n\n march\nzheng:<\/strong> Standard Protocol <\/p>\n\n\n\n The first\nCollateralized Rebasable Stablecoin (CRS) protocol for synthetic assets, and\nwill operate within the Polkadot ecosystem. \n<\/p>\n\n\n\n The first and only\nPolkadot Web3 foundation granted project from Korea, with a global community\ngrowth approach. <\/p>\n\n\n\n We implement a hybrid\nmechanism for stablecoin minting and include a new paradigm for liquidity\naggregation. In contrast to previous generations of algorithmic stablecoins,\nStandard rebases its stablecoin supply in each era. It will act as the catalyst\nfor the financial activities of other parachains to enable leveraged trading\nand arbitrage via a built-in AMM. It will also include a protocol for synthetic\nasset markets by way of a decentralized oracle.<\/p>\n\n\n\n We have a DAO team\nstructure distributed across America, EU, China and Korea. While our KOLs and\ncommunities disperse all over the world: <\/p>\n\n\n\n Mr.Business, The most\nwell-known KOL in Polkadot Ecosystem<\/p>\n\n\n\n Joseph Young, the\nfamous crypto analyst owns 120+K subscribers in Twitter<\/p>\n\n\n\n Mr.Beast, a 56M+ fans\nYoutuber (the biggest KOL in the world)<\/p>\n\n\n\n Ivan on tech\uff0c\none of the biggest crypto influencers in the world<\/p>\n\n\n\n Crypto Banter, one of\nthe most active youtuber influencers <\/p>\n\n\n\n others such as Crypto\nof Secret, Carl the Moon, Crypto Rank, Crypto Differ, MoonWalker, <\/p>\n\n\n\n And 40 other KOLs in\nKorea\u3001China\u3001Amercia\u3001England\u3001Germany\u3001Spanish\u3001Dutch\u3001Turkey\u3001Russia\u3001Vietnam\u3001Thailand\u3001India\u3001Middle-East\u3001Brazil\u3001Portugal\u3001Nigeria\u3001Indonesia<\/p>\n\n\n\n Investor List <\/p>\n\n\n\n CMS, DFG, A195,\nRarestone, LinkPad, Spark Digital, , Moonwhale, PhonexVC, Signal Venture,\nMomemtum 6, Blocksync, Lotus Capital, AU21, D64 Ventures, CryptoDreamFund, Master Venrtures,<\/p>\n\n\n\n i got involved in\nsandard simply because i saw what the first generation of Algo stable rebase\nlooked like with ampleforth and esd etc, and thought that collateral solutions\nwith high liquidity solved the issue<\/p>\n\n\n\n so bascially, standard\nto me represented the prime for what gen 2 algo should be, with ample liquidity<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Guys, i was always afraid of rebase\nprojects 😂 but when i see your investors list i think that i am wrong 😂<\/p>\n\n\n\n march\nzheng:<\/strong> most importantly ^^ thank you<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Yes, i see that it has huge potential!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Thank you! the intro was great!\nready to move on to questions from the community?😉<\/p>\n\n\n\n march\nzheng:<\/strong> yepp, from a BD standpoint, we are going to\ncapitalize aggressively and efficiently on asian exchange volume and KOL LPs..\non the latter, we are fully engaged with over dozens of KOls, not to mention\nspecific business lines of inquiries with rhe former<\/p>\n\n\n\n but most importantly,\nits our tech advantage and advent of liqudiity that matters<\/p>\n\n\n\n ready golden rocket!\nthank you!<\/p>\n\n\n\n Q1 from Telegram User\n@Korryl<\/em><\/strong><\/p>\n\n\n\n I\nunderstand that standard protocol is a rebase stablecoin project, but do your\nproject also offer passive income like farm, stake and liquidity mining? Or\nmaybe do you have incentive and reward program for holder?<\/strong><\/p>\n\n\n\n march\nzheng:<\/strong> even though we are one of the fist korean native\nproject to get the polkadot web 3.0 grant, we have always prided ourselves on\nbeing chain agosnitc. though we have the\npolkadot community edge in both CHINA and KOREA, we not only want to engage parachains\nof the polkadot ecosystem but also utilize our community network and value from\nBSC. at the end of the day, the key to\nincentivizing farming, staking and lucidity programs is to tackle the strongest\nchains \ud83d\ude42<\/p>\n\n\n\n and we will build\nprograms for all, chain agnostic wise<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Well… thanks for the answer. Who\nelse wants to add something? 😊<\/p>\n\n\n\n march\nzheng:<\/strong> thanks \ud83d\ude42<\/p>\n\n\n\n @TonyLing plz welcome\nthe head of china, tony<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Do you have dates when your Protocol\nwill go live?<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> @TonyLing welcome to Satoshi Club!\n👋<\/p>\n\n\n\n Tony\nLing:<\/strong> We are not rebase stablecoin indeed\uff0cwe\nuse synthetic asset for collateral\uff0cand\nalso somealgorithm\uff0cand our Founder Kang\nbuild up a innovative hybrid mechanism for that<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> @TonyLing welcome here!<\/p>\n\n\n\n march\nzheng:<\/strong> we dont like to shill this, but kang is the former\nhead top tier devleoper of terra and full time plasm.. we have a korean genius\nhere<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> I see, it’s something different 👍<\/p>\n\n\n\n march\nzheng:<\/strong> gen 2 @madamlobster<\/p>\n\n\n\n Tony\nLing:<\/strong> Definitly. Yield farming, joining as protocol\nvalidators. These are passive income methods, and as other protocol, we have\ninterest rate for staking<\/p>\n\n\n\n march\nzheng:<\/strong> learn from mistakes from first<\/p>\n\n\n\n gen<\/p>\n\n\n\n that is the key<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Thanks for clarifying👍 it\nis very important!<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> It’s great! Users like incentives and\nalways looking for them!<\/p>\n\n\n\n march\nzheng:<\/strong> liquidity mining and incentive tokeneconomics are\nonly going to defvelop and build from here<\/p>\n\n\n\n thats the beauty of\ncrypto<\/p>\n\n\n\n and our chain agnostiic\nadvantage lets us engage all ecosystems<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> 👍<\/p>\n\n\n\n march\nzheng:<\/strong> thanks \ud83d\ude42<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Thank you for your answers, guys! Ready\nto proceed or you want to add something?😀<\/p>\n\n\n\n march\nzheng:<\/strong> plz proceed!<\/p>\n\n\n\n thanks mary<\/p>\n\n\n\n we are clearly excited\nas u can tell, haha<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> 😍<\/p>\n\n\n\n Q2 from Telegram User\n@AmirJosh<\/em><\/strong><\/p>\n\n\n\n Standard\nprotocol uses three token system: Meter($MTR), Liter($LTR), and Standard($STND).\nWhy do Standard Protocol created 3 tokens to use for their ecosystem? Is it\nhard for 1 token to shoulder the usecases of all the 3 mentioned above? Do\ntheir supply differ from each other?<\/strong><\/p>\n\n\n\n march\nzheng:<\/strong> as a ben 2 stablecoin, we are trying to tackle upon\nthe problems of collateralization and rebase that were present in gen1. to keep it simple, we are offering our\ngovernance token STND in the presale. It\nwill benefit from 1) our exchange relationship BD, 2) LP liquidity fr liter and\nmeter through our asian BD relationships which will flow back into value\naccrual (similar to EIP 1559 in terms of token burn relative to usage) for\nSTANDARD and 3) deflationary supply like ETH relative to usage.<\/p>\n\n\n\n above all, we want\nample collateral that mixes well with ample demand. the latter from defi and\nparachain communities is more important than anything<\/p>\n\n\n\n generation* 2<\/p>\n\n\n\n both meter and liter\nthrough collaterization and LP for yields will accrue to governance for\nstandard that beneifts from exchange listings, governance decisions, and\nbuybacks<\/p>\n\n\n\n thanks @GoldRocket27<\/p>\n\n\n\n Tony\nLing:<\/strong> To summarize, we have five modules, Oracle, token,\nfarming, vault, and exchange. For token part, we need stablecoin MTR as our\ncore concept”stablecoin”, and LP token for our inner AMM exchange,\nand also governance token STND for farming as well as trading in cex<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> this is a pretty smart decision! 👍<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> So, Meter and Liter will be governance\ntokens. If we can get STND from pre sale, how we can get MTR and LTR?<\/p>\n\n\n\n march\nzheng:<\/strong> similar to Maker and Dai.. u collaterize say ETH\ninto the maker protocol (say STANDARD in this instant) and mint our stablecoin\nmeter<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> by the way, please share your\ntokenomics<\/p>\n\n\n\n march\nzheng:<\/strong> apologies, only STANDARD IS THE GOVERNANCE TOKEN<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Np, now we got it!<\/p>\n\n\n\n march\nzheng:<\/strong> can we share this? @TonyLing<\/p>\n\n\n\n and then the value\naccrual to maker is similar to how it is for dai<\/p>\n\n\n\n Tony\nLing:<\/strong> Sorry it’s not public<\/p>\n\n\n\n march\nzheng:<\/strong> except as for standard, we are benfiting from DEFI\nlp from multitide fronts<\/p>\n\n\n\n standard, ofc, is the\nspecualtive end that beneifts from specualtin and real utility\/LP usage<\/p>\n\n\n\n Tony\nLing:<\/strong> Only our investors and business partners we can\noffer that. And for token distribution\uff0cthat\nis in our wp<\/p>\n\n\n\n march\nzheng:<\/strong> the minted \nmeter, and thus stable liter in all market conditions remain normal<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Gotcha<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> We will definitely read it!<\/p>\n\n\n\n Thank you for your\nanswers, guys!<\/p>\n\n\n\n Do you want to add\nsomething or we can go to the next question?<\/p>\n\n\n\n Tony Ling:<\/strong> Next pls<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> 🚀🚀🚀<\/p>\n\n\n\n Q3 from Telegram User\n@Indomiekuy<\/em><\/strong><\/p>\n\n\n\n As\na Rebase Stablecoin project and synthetic asset, I read that Standard Protocol\nalready make partnership with bank with name \u201cGingko Bank\u201d, can you share\ndetail what are the result from that agreement? Also where is the location of\n\u201cGingko Bank\u201d? Do you have plan to add another bank as partner in the future?<\/strong><\/p>\n\n\n\n march\nzheng:<\/strong> We cannot at this time indefinitely, any \u201cmacro\nevents\u201d outside of crypto hole can understand<\/p>\n\n\n\n What we can say is as\nwe near IDO on polkastarter.. more is going to be announced in further detail<\/p>\n\n\n\n As for partner ships\nwithout mentioning names… be on lookout \ud83d\ude09<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Whitelist is already open?😀<\/p>\n\n\n\n Tony\nLing:<\/strong> Haha firstly thanks for your close attention and\nthat is a super good news for not only us but the whole defi industry. This\nbank locates in Korea, and we are thrilled to have deep partnership even for\nsome fiat-crypto gateway using Standard application afterwards, But for other\ninfo, sorry we have to keep it as a secret, but stay tuned please!<\/p>\n\n\n\n march\nzheng:<\/strong> ^^^ as for\nginkgo bank.. Korean… that we can mention :))))))<\/p>\n\n\n\n Trust the Koreans\nhahaha<\/p>\n\n\n\n Tony\nLing:<\/strong> We arr strong all over the world and Korea too\uff01<\/p>\n\n\n\n march\nzheng:<\/strong> [ 💯 Sticker ]<\/p>\n\n\n\n Shhh<\/p>\n\n\n\n Haha<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> We won’t tell anyone, Satoshiclubbers\ncan keep secrets😂😂😂 but, yes! We will wait for updates!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> ready for the next question?😀<\/p>\n\n\n\n march\nzheng:<\/strong> Yepp!<\/p>\n\n\n\n Fire away!!<\/p>\n\n\n\n Q4 from Telegram User\n@Andrey_Seleznov<\/em><\/strong><\/p>\n\n\n\n Hi\nStandard<\/strong><\/p>\n\n\n\n Impressed\nby the fact that Standard Protocol was awarded a grant from the Web3\nFoundation! Was it a difficult process and what was required from you to pass\nall the milestones?<\/strong><\/p>\n\n\n\n march\nzheng:<\/strong> Will Let tony fire away<\/p>\n\n\n\n Tony\nLing:<\/strong> Well\uff0cthat’s\na long story\u2026<\/p>\n\n\n\n march\nzheng:<\/strong> But yes was difficult in very beginning it\u2019s our\ncomparative advantage relative to region<\/p>\n\n\n\n Tony\nLing:<\/strong> But not too difficult for us to go thru this for\nOur Founder Kang is really good at coding and he has a complete solution in\nOracle model<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Yes, i know that it’s not so easy to\nget this grant! Congratulations!<\/p>\n\n\n\n Tony\nLing:<\/strong> Also some other parts in our github strike the\nvoters a lot so we pass<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> You have the best Founder!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Congratulations! thanks for the\nanswer! Do you want to add something?<\/p>\n\n\n\n Tony\nLing:<\/strong> Just to remind, we have the best solution oracle\nprovider in substrate and thru that we will have a lot partnership in polka\necosystem with other defi projects, and even outside the blockchain world\uff01<\/p>\n\n\n\n That’s all<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> That’s simple – you’re the best😉<\/p>\n\n\n\n Q5\nfrom Telegram User @dudeiebitch <\/em><\/strong><\/p>\n\n\n\n We\nall know there is no rewards for oracle in a decentralized ecosystem but only\non the centralized ecosystem, you planned to rewards oracle providers in a\ndecentralized ecosystem but you proposes a reward mechanism in each era and\nslashes equivocation with the IQR rules. What are these IQR rules and how do\nyou plan to achieve this with the cons of decentralization<\/strong><\/p>\n\n\n\n march\nzheng:<\/strong> Tony ^<\/p>\n\n\n\n Sorry @GoldRocket27\ncould u batch down the iteration on IQR? We like to clarify meaning first<\/p>\n\n\n\n From a\nphilosophical standpoint if I can answer\nimmediately, it\u2019s relative to the macro meaning of decentralization. For us first. Prioritizing initial LPs and\nprovided is foremost<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Philosophy is also good!<\/p>\n\n\n\n march\nzheng:<\/strong> In time, we hope to build a global mindshare to the\nlevel that we see with eth, but we realize it\u2019s ambitious ness. Incentivizing\nliquidity and users first is foremost<\/p>\n\n\n\n Tony\nLing:<\/strong> Good question. Indeed we reserve a certain\npercentage of our token for oracle providers-the validator, it’s important. And\nwe choose from them ramdomly to promise the fairness and decentralization.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> this is a question from our member\nof our community.🤷♀ want to add something or share some important\ninformation<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> They will be rewarded randomly?<\/p>\n\n\n\n march\nzheng:<\/strong> From that end, decentralization is a framed\nquestion IMO<\/p>\n\n\n\n We want to reward ample\nliquidity providers and users<\/p>\n\n\n\n But also realize eth is\none of the kind<\/p>\n\n\n\n Perhaps bnb is one of\nits kind<\/p>\n\n\n\n Tony\nLing:<\/strong> The oracle providers are chosen in each era to\nshare the reward token in pool for certain percentage of all of our token, kind\nof consensus mechanism.<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Interesting system and for sure it will\nhelp decentralisation!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Many thanks for answers! Ready to\nproceed to last question of this part😊<\/p>\n\n\n\n march\nzheng:<\/strong> Let\u2019s go!! \ud83d\ude42<\/p>\n\n\n\n Q6 from Telegram User\n@victorogb<\/em><\/strong><\/p>\n\n\n\n With\nit\u2019s interoperable ecosystem feature, Standard Protocol can work across\ndifferent blockchains as a form of smart contract in each network, sharing\nprice information to other chains or fiat assets with charging fees. The lack\nof fees charged on this services, is it totally dependent on Standard\nProtocol\u2019s self-sustainig oracle reward ecosystem or a variety of other unique\nfeatures, and can you briefly describe how the self-sustaining oracle reward\nsystem works?<\/strong><\/p>\n\n\n\n march\nzheng:<\/strong> Fees is relative of usage.. and we hope to provide\nan ample balance in terms of usage relative to feees<\/p>\n\n\n\n All decentralized\noracles suffer from either fee accrual or lack of liquidity aggregation<\/p>\n\n\n\n We want to combine that\nin the best decentralized and centralized method… if possible!<\/p>\n\n\n\n By one, aggregating\nliquidity to LPs decnefdlizafoon fashions, and utilizing price oracles\ncentralized in correct fashion<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> That’s true!<\/p>\n\n\n\n Tony\nLing:<\/strong> First, it’s true we need to have a balance between\nthe fee input and the token output based on the oracle service, but that’s also\none part that if more frequently service used, we will involve more validators\nto feed the price, which will distribute our token bonus. Second, we believe we\nwill have a lot more usage in traditional world and become a killer app for\ntraditional financial asset!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> you have ambitious plans and goals! 👍<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Why you want to kill traditional\nassets?😂<\/p>\n\n\n\n Tony\nLing:<\/strong> Well\u2026they need to embrace Crypto haha<\/p>\n\n\n\n Take it or leave it<\/p>\n\n\n\n march\nzheng:<\/strong> Guys.. why are we all in cryptoVb<\/p>\n\n\n\n ??<\/p>\n\n\n\n Because it\u2019s the future\nof financial coordination<\/p>\n\n\n\n And we want to at least\nhelp it go ONE STEP in that direction<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Yes, if i will talk about this without\njokes – i understand the importance!<\/p>\n\n\n\n And we really\nappreciate what you’re doing! That’s a great job!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> thanks a lot for the answers! and\nnow there will be the most exciting part of AMA – live questions!<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Our users prepared a lot of questions 😉<\/p>\n\n\n\n Do you want to know\nwhat ‘a lot’ means?<\/p>\n\n\n\n march\nzheng:<\/strong> Oh geez<\/p>\n\n\n\n Love the enthusiasm!<\/p>\n\n\n\n Tony\nLing:<\/strong> Lol<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong>[12.04.21 14:18]<\/p>\n\n\n\n Let’s go 🚀<\/p>\n\n\n\n Q1 from telegram\nusername @rockmorti<\/em><\/strong><\/p>\n\n\n\n Is\nit possible in Standard protocol to do MARGIN operations? that is, some lend\nand borrow mechanism to use in the market?<\/strong><\/p>\n\n\n\n march\nzheng:<\/strong> Depends on our technical capabilities .. will\ninquire the team<\/p>\n\n\n\n Q2 from telegram\nusername @topind7<\/em><\/strong><\/p>\n\n\n\n How\ndo I get to know more about Standard protocol, any channels or communities of\nyours I can join?<\/strong><\/p>\n\n\n\n march\nzheng:<\/strong> Standard.tech<\/p>\n\n\n\n Q3 from telegram\nusername @KhaleesiTheCryptoLady<\/em><\/strong><\/p>\n\n\n\nPart\n2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n