Gold Rocket | Satoshi Club:<\/strong> Hello, dear community! We conclude our today’s AMA\nmarathon series with Munch.<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> Today we are glad to have our guests<\/p>\n\n\n\n @MS3081<\/p>\n\n\n\n @rodresendesilva<\/p>\n\n\n\n Mike:<\/strong>\nHi everyone, pleasure to be here<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> Hi there how’s everyone feeling today? Thank you so\nmuch for having us ❤️<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> Hello and welcome to Satoshi Club @MS3081 and\n@rodresendesilva❤️<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> We are excited for this AMA session!<\/p>\n\n\n\n Mike:<\/strong>\nme too!<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> Let’s start!😁<\/p>\n\n\n\n Introduce yourself\nplease. How did you get to be involved in crypto & Munch?<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> I can start<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> Tell us please about your position in Munch.🧑💻<\/p>\n\n\n\n Go ahead😁🚀<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> Hi everyone, my name is Rodrigo and I’m the CEO of\n$MUNCH project. I got involved with crypto from an investors’ point of view, I\nstarted investing on the main cryptos and progressed onto DeFi, so I could find\nthe small market cap gems.<\/p>\n\n\n\n During this process, I\ninvested in a token that setup a wallet for donations and donated $70k to an\nanimal shelter… this made me feel really good and I started to think that\nwould be amazing if we were able to create a token that would include automatic\ndonations on its tokenomics, as a result, $MUNCH was born!<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> Don’t worry, we will fix it, let’s proceed with the\nintro<\/p>\n\n\n\n Great background, what\ndid you choose to progress into DeFi?<\/p>\n\n\n\n Mike:<\/strong>\nHi all, I’m Mike and I’m the COO of Munch Project. Similar to Rodrigo I’ve been\ninvesting in crypto since 2017, and in high-growth startups since 2013. My\nbackground is in leading product development and strategy for financial\nservices companies such as Amex, Barclays and a number of fintech\/Neobanks. I\nalso served as a startup advisor and investor for a number of notable UK tech\nstartups.<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> Great experience + great idea = successful business👍<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> I love the concept and the freedom provided to\naspiring entrepreneurs, as it’s fairly easy to kickstart a project. From an\ninvestment perspective, it’s also the place where you’re more likely to find\n100x-1000x gems… like $MUNCH \ud83d\ude42<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> Your achievements are impressive👏<\/p>\n\n\n\n Tell us about the\nbenefits of your project. How is it different from others?<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> I agree<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> What is the essence of Munch?<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> The main differentiator in our project is its\nunique tokenomics system. We developed our contract in a way that a % of each\ntransaction is automatically converted to ETH and sent to the charity wallet. <\/p>\n\n\n\n This has many\nadvantages, such as:<\/p>\n\n\n\n 1) The process is\ntrustless – All the transactions are performed by the contract and as a\nconsequence, they can be verified in the contract’s internal transactions tab. <\/p>\n\n\n\n 2) Our asset is stable\n– Since the swap is performed on each transaction, this doesn’t affect the\nprice of our coin, opposite to some other projects that cause a massive sell\nwhen donating or have to burn tokens to keep the price stable, which is not\nsustainable for years.<\/p>\n\n\n\n 3) No manipulation –\nOur donations happen on each transaction, so it’s a spontaneous process<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> Also we would like to know about your team. Who is\non the project team core?<\/p>\n\n\n\n Mike:<\/strong>\nMunch is a charitable DeFi project where our community ‘gives back’ and ‘gets\nback’. We’re leveraging cryptocurrency and blockchain technology to involve\neveryday crypto investors in supporting charitable causes, and this is done by\nusing an efficient and trustless donation system. Because of the enormous\nproblems we are solving, we strongly believe the value of our project will grow\nexponentially so our community members and investors will receive great returns\nin the process. For example, for all product development we do at Munch we\nfocus on enhancing our token utility so it can provide more value to our\ncommunity and investors in the long run.<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> This is a truly unique solution👍<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> Well done, we must help each other<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> What I like the most is the combination of crypto\nand charity. 👍❤️<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> 👏<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> It’s quite unique as it was developed after\nanalysing all the flaws existant in the current projects. It’s very common to\nsetup a wallet and ask your holders to donate, but in the long run, one person\ncan only donate so much. Our system is facilitating donations on each\ntransaction, so the process is flawless.<\/p>\n\n\n\n Another important\naspect that we need to mention is that we have a percentage that also reverts\nback to the holders, as an incentive to hold we are generating passive income…\nwhich makes this a win-win situation for both investors and charities!<\/p>\n\n\n\n Mike:<\/strong>\nIn our core project team we have Rodrigo and myself as CEO, and COO. We have\nrecently recruited Antony Gardez as CTO – Antony was an early Munch investor\nand has an impressive BG in co-founding a successful tech startup with offices\nin 4 countries. <\/p>\n\n\n\n We have our technical\nlead Rafa, Pedro our head of design, \nProject lead Roughan who looks after internal technical projects and\nexchange listings, Jon our comms lead, Pete and Matt who looks after business\ndevelopment, charity partnerships and Munch merch\/lifestyle. and we have an\nextended Munch team and our community that supports us a great deal across many\naspects \ud83d\ude42<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> Is so recognizable the job you are doing guys,\nlet’s learn more about your project through the community questions we have\ncollected😃<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> Btw.. How long does it take to develop a project?<\/p>\n\n\n\n Mike:<\/strong>\nFurther info on team members can be found on our website.<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> Where is based your project?<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> thanks for the answers👍<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> Took me 2 weeks to develop the contract, pitch it\nto my team and early investors, setup the site and the rest is being developed\nas we go… the main advantage of running a community project is to use the\ncommunity so we are actively taking suggestions and improving.<\/p>\n\n\n\n Mike:<\/strong>\nOur team members are predominantly UK based but have extended team members\nacross the globe \ud83d\ude42<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> Thank you for the clear and informative\nintroduction, time to proceed with the first question of this part of the AMA🥳<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> it is very important to be flexible in the crypto,\nthis is a very rapidly developing industry<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> Let’s do it!<\/p>\n\n\n\n Q1 from Telegram User @yellowchamp<\/em><\/strong><\/p>\n\n\n\n $MUNCH transaction fees are redistributed between<\/strong><\/p>\n\n\n\n your users and the causes they support.The Yellow\nBrick Project is the second charity supported by MUNCH, following GiveWell\nwhich received over 735 ETH from MUNCH transactions, sold for over $2.2M USD.\nSo can you tell us why did you decide to support some charity? How did your\nplatform choose which charity to support? Aside from transaction fees being redistributed\nto causes charity,can any users or investors in your platform can directly\ndonate to the choosen charity? Thank you<\/strong><\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> I will take this one<\/p>\n\n\n\n GiveWell was chosen in\nthe beginning due to its size and fantastic work, this was not a community\ndecision because we needed a charity to start with. Throughout our first month,\nwe had team members constantly reaching out to charities, scheduling meetings,\nhelping them throughout the process of becoming crypto ready. <\/p>\n\n\n\n As a result of the\neffort mentioned above, we were able to provide 3 charities for people to vote\nfor, we wrote 3 medium articles to explain the choice and why they were\nselected and people voted on our governance portal (snapshot), where they can\nconnect their wallet and vote (this was very important and we only wanted to\nallow holders to vote).<\/p>\n\n\n\n Aside from the\ndonations made via our tokenomics, the community is more than welcome to donate\ndirectly and this can be done via one of the following ways:<\/p>\n\n\n\n – Transfer ETH to our\ncontract. Every amount of ETH that is sent to our contract is automatically\nsent to the selected charity<\/p>\n\n\n\n – Transfer ETH directly\nto the charity’s address<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> To how many charities have you donated until now?<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> So far, GiveWell and Yellow Brick Road. The reason\nfor this was because when we started, we didn’t really imagined that we would\nbe able to donate over 2.2M in a month so in our site we had “charity of\nthe month: GiveWell”… we like to keep our promises so we donated the\nwhole month. Now we started to do the donations bi-weekly and the first chosen\ncharity was Yellow Brick Road.<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> What is the aim of Yellow Brick Road?<\/p>\n\n\n\n Mike:<\/strong>\nWith the bi-weekly donation cycles, Munch community will be able to efficiently\ndistribute funds to help a much wider selection of causes\/charities on a\nrotating basis.<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> That’s amazing, currently what our world needs👏<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> The Yellow Brick Road Project is a charitable\nfoundation with a mission to fund research to identify, understand, treat, and\nultimately cure those impacted by HNRNPH2 mutations.<\/p>\n\n\n\n Their work aims to\nidentify more individuals with HNRNPH2 mutations, connect families impacted by\nHNRNPH2 in order to contribute to the understanding of the disorder, raising\nawareness of HNRNPH2 mutations in the general public and scientific\ncommunities, and by funding research into HNRNPH2 mutations.<\/p>\n\n\n\n Quite often these\ncharities are overlooked, as donations tend to go towards more known causes. We\ndecided that it would be interesting to help this cause and at the same time to\nhave the opportunity to cause some local impact.<\/p>\n\n\n\n Mike:<\/strong>\nThank you, and we’re extremely proud of the rate of donations we’re able to\ngenerate from our growing community base. So even with relatively short 2 week\ncycles – we will be able to make a real impact.<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> Thanks for the answer, is amazing that you are\ndoing.<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> What other areas of charity do you plan to develop?<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> We don’t have a specific target and like to keep\nour options open. We created a group specifically to discuss the charities, so\nwe will listen to what our community has to say. As a personal preference, I\nwould like to target hunger next \ud83d\ude42<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> Thank you very much for your answers and for your\ngood deeds! ready for the next question?<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> Sure thing!<\/p>\n\n\n\n Q2 from Telegram User @victorogb<\/em><\/strong><\/p>\n\n\n\n The Munch economic model is such that, when a user\nbuys MUNCH tokens through an exchange, a 10% transaction fee is deducted from\nsuch transaction, consequently splitting the transaction fee between MUNCH\ntoken holders and the community recommended charity of choice (5% each). This\ncurrent model was modified from a previously adopted model, after a community\nagreed consensus. Therefore, what are the guarantees that this current economic\nmodel would be susbstainable as well as economical, how is the 5% fee\nconsequently sent and distributed to the deserving charity, and what other way\nis the community rewarded for trading and holding on to their MUNCH tokens?<\/strong><\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> Let me tackle this one by breaking it down a bit.<\/p>\n\n\n\n The community will use\nour governance portal to not only vote on the charities but also on important\ndecisions that will dictate our future. We are committed to build a sustainable\nmodel that preserves both the interest of the team and all the investors. As a\nconsequence, this fee can also be changed, both in size and allocation\n(reflected\/donated). This once again, demonstrates our flexibility and\ncapability to adapt.<\/p>\n\n\n\n As per the technical\nside of it, each time a transaction is made, 10% of tokens are retained in the\ncontract. 5% of those tokens are distributed by the holders according to their\npercentage of ownership. This is widely known model and first introduced by\nRFI.<\/p>\n\n\n\n The other 5% of the\ntokens are kept in the contract itself, as the contract is at the same time an\naddress, therefore capable of holding any ERC-20 token. When the amount of\ntokens in the contract reaches a certain treshold, we swap them for ethereum\nand send them to the charity wallet.. this is done at the contract level, since\nwe use the uniswap’s module to communicate with the Uniswap router.<\/p>\n\n\n\n Mike:<\/strong>\nThe transaction fee and ratio between charity donation versus holder\nredistribution can be adjusted. We’ve started with 5% donations based on\ncommunity consensus and that has enabled us to raise significant donation\namounts from the beginning. As our community grows, naturally it would make\nsense to explore a lower transaction fee which could encourage greater trading\nvolume, which we believe will create a net effect of higher donations.<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> We would like to know more about your tokenomics,\nhow are the tokens amount distribuited?<\/p>\n\n\n\n Mike:<\/strong>\nIn addition, our Munch product roadmap is strongly aligned with improving token\nutility and building a sustainable business model. We’re currently exploring\npartnerships in the near term that can introduce new revenue streams to Munch,\nand once our launchpad is ready, we would generate a small transaction revenue\nwith a percentage being redistributed back to our investors which will further\nincentivise holding. Some key future functionality\/utility of the platform will\nbe primarily accessible to the Munch holder. <\/p>\n\n\n\n Lastly, Munch token is currently used for voting and\ngovernance – you have to be a holder to vote on key proposals and new\ncharities.<\/p>\n\n\n\n Mike:<\/strong>\nWe had 100T token supply to start and it is distributed as the following:<\/p>\n\n\n\n 15% to burn during\nspecific burn events (15T – Time-locked\nfor specific burn events)<\/p>\n\n\n\n 10% team allocation\nwith a range of ownership between 0.5% and 2% per person<\/p>\n\n\n\n 5% presale with a max\nof 0.5% per person held across 10 accounts<\/p>\n\n\n\n 12% marketing budget<\/p>\n\n\n\n 5% development budget<\/p>\n\n\n\n 8% liquidity and\nexchange listings <\/p>\n\n\n\n 45% pooled<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> They are added to each user’s balance according to\nownership, i.e. if you own 2T which corresponds to 2% of the total supply,\nyou’d get 2% of the 5% distributed.<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong>Thank you, I think regarding the question is clear.\nLet’s proceed with the next question.<\/p>\n\n\n\n Q3 from Telegram User @Gutike95<\/em><\/strong><\/p>\n\n\n\n I read that in Q4 they will carry out charitable\nassociations NFT, but could you really explain to us how useful the NFT will\nhave to benefit these charity movements? only that a % of the capital of the\nNFT sold is destined for that work?<\/strong><\/p>\n\n\n\n Mike:<\/strong>\nI think NFT is popular and growing trend in the crypto space, and we’ve seen\nexamples of very successful charity and NFT collaborations so far. We have a\nhighly creative community at Munch so we’d love to explore the idea of\ninvolving our community in designing artwork that can be minted as NFTs, to the\nbe auctioned to support charitable causes. It’s a creative and fun way to\nleverage a growing trend to do provide more positive impact to the world.<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> Quite right!<\/p>\n\n\n\n Mike:<\/strong>\nIncidentally, we’ve been in conversations with some music artists about a\npotential NFT collaboration so we are intrigued to see how this can develop.<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> Do you have son NFT designs to share with us?<\/p>\n\n\n\n Mike:<\/strong>\nNothing in public yet \ud83d\ude09 once we do the Satoshi club will be first to know 😁<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> we will look forward to😊😉<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> Sure, we will be expecting for it 😁<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> Thank you very much for your answers! Ready for the\nnext question?<\/p>\n\n\n\n Mike:<\/strong>\nyes<\/p>\n\n\n\n Q4 from Telegram User @Jonahapagu<\/em><\/strong><\/p>\n\n\n\n On your road map I can see three different\nlaunchpads.. which are \u201cLaunchpad \u2013 for social causes\u201d, \u201cLaunchpad \u2013 for new\ncrypto projects\u201d, and \u201cLaunchpad \u2013 for individual causes\u201d most of the\nlaunchpads available today are for new crypto projects, so how will the\nlaunchpad for social causes and individual causes work, what will they be used\nto launch , how will users participate and benefit from this new launchpads and\nhow are they different from each other..<\/strong><\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> The idea behing the lunchpad is to build a portal\nthat is similar to the existing crowdfunding portals like GoFundMe, CrowdCube,\netc. In this portal, the charities will be able to submit their application and\nwe will carry out a vetting process… when approved, they will be displayed on\nour portal and the users will be able to:<\/p>\n\n\n\n 1) Choose the charity\nto be supported via our tokenomics<\/p>\n\n\n\n 2) Donate o to the\nselected charity individually by staking their own tokens<\/p>\n\n\n\n Further in the future,\nwe want to include, as part of the integration process, also the service to set\nthem up to receive crypto. This will then reduce our current limitation, as we\nneed to donate to charities that are crypto ready.<\/p>\n\n\n\n The other two\nlaunchpads, Mike can share some info about<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> Btw, could you share your whole roadmap? What is\nthe major event coming for Munch?<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong><\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> Please tell us about other launchpads too😊<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> Sure thing, Mike is typing \ud83d\ude42<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> Oh! You’ve done a lot already, but there is more\nwork ahead! 💪<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> Our next big event will be our launch on BSC\nnetwork! We are building a bridge and will be available on pancake swap on the\nfirst week of June.<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club:<\/strong> [ 🤗\nSticker ]<\/p>\n\n\n\n Gold Rocket | Satoshi Club:<\/strong> To be honest, we have a question on this topic.😉<\/p>\n\n\n\n Rodrigo Silva * Don\u2019t send me ETH *:<\/strong> <\/p>\n\n\n\n Here is a sneak peak<\/p>\n\n\n\n Sure, let’s save the\ndetails then!<\/p>\n\n\n\n Mike:<\/strong>\nThe same platform and technology and we altered to support individual causes\n(i.e. a crypto version of go-fund me) and to fundraise for promising, new\ncrypto projects. Usually early stage investing (where there is the highest\nrisk\/reward) is reserved for angels, VCs and institutional investors. At Munch\nwe want to decentralise fund raising and give our Munch holders the opportunity\nto support promising projects and in return have the chance to generate great\ninvestment returns.<\/p>\n\n\n\n I’ve personally been a\nfan of early stage investing where some of the key UK startups I invested in\nsuch as Monzo, Revolut, Freetrade etc have all returned more than 10x.<\/p>\n\n\n\n![\"\"](\"https:\/\/esatoshi.club\/wp-content\/uploads\/photo_2021-05-24_22-09-46-1024x702.jpg\")
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