https:\/\/docs.google.com\/forms\/d\/e\/1FAIpQLSfJUG9rkc-yFOg03CxiD4hmwIA0Y8rlv6o5qy2aaDn3OJvVsA\/viewform<\/a>\n<\/p>\n\n\n\nMary | Satoshi Club:<\/strong> Thank you, \nwe still have chances can try our luck😉<\/p>\n\n\n\nOliver Mehr:<\/strong>\nYes whitelist closes at 5pm UTC Friday.<\/p>\n\n\n\nMary | Satoshi Club:<\/strong> And of course we wish you successful IDO🥳<\/p>\n\n\n\nMihai Pisica:<\/strong>\nI’m totally unlucky at whitelisting 😂<\/p>\n\n\n\nOliver Mehr:<\/strong>\nthank you!<\/p>\n\n\n\nMary | Satoshi Club:<\/strong> Me as well 😂<\/p>\n\n\n\nOliver Mehr: <\/strong>haha<\/p>\n\n\n\nMary | Satoshi Club:<\/strong> Thank you for your answers, guys! Ready to proceed?<\/p>\n\n\n\nCharles | Phuture:<\/strong>\nSounds good<\/p>\n\n\n\nOliver Mehr:<\/strong>\nReady<\/p>\n\n\n\nQ2 from Telegram user @michelth <\/em><\/strong><\/p>\n\n\n\nThe Phuture protocol features a unique, scalable\naggregated index architecture that allows you to rebalance multiple indexes\nsimultaneously. Its intelligent\nrebalancing engine dynamically determines optimal rebalancing triggers,\nminimizing value lost through trades and improving index performance. As we well know, once Phuture goes live,\nPhuture will introduce an open design philosophy to create passive investment\nstrategies. Designed from the ground up\nto be intuitive for both native crypto and non-crypto users. In case, does Phuture provide the tools to\ncreate new indexes? For what purpose is\nIndex Creator used?<\/strong><\/p>\n\n\n\nCharles | Phuture:<\/strong>\nThe index creator tool is the gateway into creating new indices on Phuture. It\nsegregates assets into sectors to make it easier to choose assets. It provides\ndifferent weighting methodology such as fixed weights and market cap weighting.\nThis allows your indices to be weighted based on dynamic datasets, ensuring the\nweights of your assets evolve over time. Lastly, the creator tool allows you to\ncreate indices that track a given sector. Therefore, a user can create an index\nthat tracks the top X assets within a sector.<\/p>\n\n\n\nOliver Mehr: <\/strong>We\nthink that this will be the most powerful tool for creating automated indices.\nIn less than four screens a user can create an index that actively tracks a\nsector without requiring any additional input from the user.<\/p>\n\n\n\nMary | Satoshi Club:<\/strong> can you give us an example😉<\/p>\n\n\n\nOliver Mehr:<\/strong>\nOf course, so if a user selects the decentralised exchange sector, they may not\nknow which assets to choose<\/p>\n\n\n\nWe solve this issue by\nallowing them to track a top ranking of assets<\/p>\n\n\n\n
So we can say do you\nwant to buy the top 3 tokens in this sector.<\/p>\n\n\n\n
Once they select this\ntype of index it will always represent the top 3<\/p>\n\n\n\n
Mary | Satoshi Club:<\/strong> Only top? If someone likes risk😂?<\/p>\n\n\n\nOliver Mehr:<\/strong>\nso two years from now when they redeem their index. They will receive the\ntokens that are the top 3 at that time. We make all the adjustments in the back\nend.<\/p>\n\n\n\nMihai Pisica:<\/strong>\nHow much percentages from the profit does a index creator gain?<\/p>\n\n\n\nOliver Mehr:<\/strong>\nFor now, we do top 3, top 5, top 10.<\/p>\n\n\n\nCharles | Phuture:<\/strong>\nNone.<\/p>\n\n\n\nOliver Mehr:<\/strong>\nSince the indices are so easy to create and there is no active management on\nthe creators part. We did not feel that a reward was necessary.<\/p>\n\n\n\nWe have the ability to\ndistribute fees earned from the indices to other parties excluding our fee\ncontract. Although, this is primarly for partnerships we engage with.<\/p>\n\n\n\n
We are excited to bring\nsome branded index products.<\/p>\n\n\n\n
Mihai Pisica:<\/strong>\nGot you, everything clear to me )<\/p>\n\n\n\nMary | Satoshi Club:<\/strong> Which DEXs will you support?<\/p>\n\n\n\nAlso top?😀<\/p>\n\n\n\n
Oliver Mehr:<\/strong>\nWe will support all major dex\u2019s on Ethereum. We use 0x API to allow us to tap\ninto all the major exchages on Ethereum. 0x also enables us to get the best\nexchange rate for our users.<\/p>\n\n\n\nWhat this means is that\nfrom day 1 users will have access to a wide variety of assets to include in\ntheir index.<\/p>\n\n\n\n
Mary | Satoshi Club:<\/strong> Awesome!<\/p>\n\n\n\nOliver Mehr:<\/strong>\nIn addition, 0x is extensible to other chains we will be launching on including\nBSC and Solana.<\/p>\n\n\n\nMary | Satoshi Club:<\/strong> Oh, that’s nice! 👏<\/p>\n\n\n\nWill you use L2 for\nEthereum chain, as fees are a pain for everyone now?<\/p>\n\n\n\n
Mihai Pisica:<\/strong>\nWaiting for that guys, it is really a cool staff you are presenting here )<\/p>\n\n\n\nOliver Mehr:<\/strong>\nWe plan to roll out the Phuture ecosystem onto L2 but there a few\nconsiderations to take into account. First, we leverage external liqudiity and\nthus we need to join an L2 that will have incumbent exchanges with good volume\nand liquidity. Second, we want to make sure we commit to an L2 that is\nattracting the lions share of users.<\/p>\n\n\n\nSo we will wait to see\nwhich L2 gets the most traction and deploy there<\/p>\n\n\n\n
Many people are excited\nabout Arbitrum and Optimism. These are both based on fraud proofs<\/p>\n\n\n\n
we are also excited\nabout ZK Sync and using validity proofs for much shorter withdrawal times.<\/p>\n\n\n\n
But reducing user fees\nis a priority for us.<\/p>\n\n\n\n
Mary | Satoshi Club:<\/strong> Polygon is also gain a lot of attention now, as i\nknow😀 but let’s see! You doing great, guys! Can’t wait to see how\neverything will work!<\/p>\n\n\n\nOliver Mehr:<\/strong>\nIndeed!<\/p>\n\n\n\nMary | Satoshi Club:<\/strong> Thank you for your answers! Ready to go to the next\nquestion?<\/p>\n\n\n\nOliver Mehr:<\/strong>\nYep<\/p>\n\n\n\nQ3 from Telegram user @mctrho <\/em><\/strong><\/p>\n\n\n\nLet\u2019s talk about the security and trust that users\ncan give to PhutureDAO, according to the project documents PhutureDAO adopts\ndifferent protocols that provide different functionalities to the ecosystem,\nsuch as the Optimized Rebalancing protocol, Rebalancing Surfaces, Rebalancing\nBands, and more. But are all these protocols backed by smart contracts? Are\nthey vulnerable to bugs or hacker attacks? Can users safely place their trust\nin PhutureDAO protocols?<\/strong><\/p>\n\n\n\nOliver Mehr:<\/strong>\nOkay lets get into it.<\/p>\n\n\n\nFirstly, all contracts\nwill be audited by Quanstamp, we believe they are the best audit firm in the\nindustry with an excellent track record of working with major projects.<\/p>\n\n\n\n
In addition, Richard Ma\nthe CEO of Quanstamp is an investor.<\/p>\n\n\n\n
So when we go live on\nmainnet we will be fully audited.<\/p>\n\n\n\n
We can group\nrebalancing bands and rebalancing surfaces into a category called rebalancing\nengine.<\/p>\n\n\n\n
Mary | Satoshi Club:<\/strong> Ahaha, he is interested 😂<\/p>\n\n\n\nMihai Pisica:<\/strong>\nDo you plan more audits from 3rd parties? Or you will get limited just at the\nQuanstamp?<\/p>\n\n\n\nOliver Mehr:<\/strong>\nThe rebalancing engine cannot be run on-chain (we tried to) but the\napproximations you must do onchain for the computation to be feasible meant\nthat the errors we were getting were too great<\/p>\n\n\n\nMary | Satoshi Club:<\/strong> Btw, did you already tested your platform?<\/p>\n\n\n\nOliver Mehr:<\/strong>\nSo that code will also be audited but it is run by our validator nodes\noff-chain.<\/p>\n\n\n\nWe will just do the one\nwith Quanstamp.<\/p>\n\n\n\n
test net is not yet\nlive<\/p>\n\n\n\n
we expect it end of\nJUne<\/p>\n\n\n\n
Anyone can be a\nvalidator, they must stake PHTR to do so.<\/p>\n\n\n\n
and they will be\nrewarded for executing core protocol functions<\/p>\n\n\n\n
Mary | Satoshi Club:<\/strong> Everyone will be able to test? Also, do you plan\nany bug bounties?<\/p>\n\n\n\nOliver Mehr:<\/strong>\nyes we will open testnet up to the public.<\/p>\n\n\n\nBug bounty will be in\nplace. It is TBC on the amount at the moment.<\/p>\n\n\n\n
Mary | Satoshi Club:<\/strong> Super!<\/p>\n\n\n\nThank you for your\nanswers! Ready to jump to the next question?😀<\/p>\n\n\n\n
Mihai Pisica:<\/strong>\nMore than clear )<\/p>\n\n\n\nOliver Mehr:<\/strong>\nYes<\/p>\n\n\n\nQ4 from telegram user @Highpee<\/em><\/strong><\/p>\n\n\n\nYour token distribution is unique by design. Out of\nthe total supply of 100,000,000 $PHTR that you will have, the team (both\npresent and future) will be controlling 28% while investors will be given 19%.\nWhy did you allocate 5% of your tokens for future team members that are yet to\nbe employed and what will happen to these tokens if these individuals were not\nemployed or if the numbers eventually employed cannot take up the whole 5% of\ntokens reserved for them? Why is the team controlling almost one-third of the\nentire token and how are these tokens meant to be released or distributed among\nthe team? And for the 25% allocated to ecosystem, what activities are these\nmeant for and how will their distribution be governed?<\/strong><\/p>\n\n\n\nOliver Mehr:<\/strong>\nWe believe it will be important to attract and retain the best talent in order\nfor Phuture to grow into the largest onchain index platform. Thus, we decided\nit would be prudent to set aside 5% to make sure we could entice the best\npeople<\/p>\n\n\n\nMary | Satoshi Club:<\/strong> Will you lock team tokens?😀<\/p>\n\n\n\nOliver Mehr: <\/strong>The\n5% is owned by Phuture Labs and thus we would have the ability to control how\nit is spent.<\/p>\n\n\n\nIt worth noting that\nthe DAO will hold just under 53mm tokens<\/p>\n\n\n\n
this is controlled by\nthe community and we expect it to be used for growth and retetion programs.<\/p>\n\n\n\n
Decided in unison with\nthe community<\/p>\n\n\n\n
The team is locked up\nfor 27 months<\/p>\n\n\n\n
3 months cliff<\/p>\n\n\n\n
24 month vesting<\/p>\n\n\n\n
Mary | Satoshi Club:<\/strong> Seed round tokens also locked?😀<\/p>\n\n\n\nOliver Mehr:<\/strong>\nThe DAO tokens which are made up of ecosystem and liquidity tokens are vested\nover 5 years<\/p>\n\n\n\nMary | Satoshi Club:<\/strong> Btw, can you share your tokenomics with us?<\/p>\n\n\n\nOliver Mehr:<\/strong>\nThe seed tokens are vesting over 2 years<\/p>\n\n\n\nwith 10% distributed at\nTGE<\/p>\n\n\n\n
Mihai Pisica:<\/strong>\nWhat is the reason of vesting for so long time?<\/p>\n\n\n\nOliver Mehr:<\/strong>\nThe current team tokens amounts to 20% which we feel is commensurate to the\nvalue we plan to put into Phuture over the next 10-20 years<\/p>\n\n\n\nIn terms of how the\ntoken will be used?<\/p>\n\n\n\n
We did not want to have\nall the tokens available at once. To ensure that we can spread the incentives\nover a longer period of time. If all tokens are available there is a concern\nthat a large part of them will be used early on and we will not leave enough to\nstimulate growth in the latter years<\/p>\n\n\n\n
Mary | Satoshi Club:<\/strong> Yes<\/p>\n\n\n\nMihai Pisica:<\/strong>\nMake sense, a logical point of view ) Good explanation for the newbies from our\ncommunity )<\/p>\n\n\n\nOliver Mehr:<\/strong>\nToken can be used in the following ways ( this is from a medium post being\nreleased soon):<\/p>\n\n\n\nStaking<\/p>\n\n\n\n
Staking<\/p>\n\n\n\n
PHTR can be staked into\nthe protocol. When PHTR is staked the user receives enhanced PHTR (ePHTR).\nePHTR gives the holder access to governance capabilities. In addition, ePHTR is\ncontinuously earning and compounding PHTR denominated rewards. An ePHTR holder\ncan redeem their accrued rewards by unstaking. <\/p>\n\n\n\n
Initially, rewards\ndistributed to the staking contract will stem from the treasury but over time\nthey will be replaced\/augmented by the fees generated on the platform. Fees\ngenerated on Phuture are used to buy back PHTR on the open market and\nredistributed into new and\/or existing operating\/growth\/retention initiatives.<\/p>\n\n\n\n
Staking naturally\ndilutes non-participatory token holders relative to staked holders over time.\nThis results in more influence being held by the active and engaged portion of\nthe Phuture community.<\/p>\n\n\n\n
Oliver Mehr:<\/strong>\nGovernance<\/p>\n\n\n\nePHTR is the medium\nthrough which governance is enforced. Holders can propose changes to the\nplatform and vote on existing proposals.<\/p>\n\n\n\n
Index Incentives<\/p>\n\n\n\n
PHTR is distributed to\nholders of whitelisted indices. Indices can be whitelisted via the governance\nprocess.<\/p>\n\n\n\n
Validators<\/p>\n\n\n\n
Validators are required\nto bond PHTR in order to become eligible for executing core platform functions.\nIn addition, on non-ethereum chains PHTR is used to reward validators for the\nwork they perform. During the initial phases of a new chain deployment, PHTR\nfrom the treasury will be used to reward validators. This is due to the fact\nthat index fees will be insufficient to cover these operating costs. However,\nas the deployment matures, fees will replace treasury funded rewards.<\/p>\n\n\n\n
Phuture generates fees\nis three ways : <\/p>\n\n\n\n
AUM Fee <\/p>\n\n\n\n
Yield Fee<\/p>\n\n\n\n
Redemption Fee<\/p>\n\n\n\n
Oliver Mehr:<\/strong>\nthe yield and AUM fee are used to buy back PHTR and redistribute to our ongoing\nintiatives whether that is staking or operating activities etc.<\/p>\n\n\n\nMary | Satoshi Club:<\/strong> A lot of usecases!<\/p>\n\n\n\nOliver Mehr:<\/strong>\nThis put an ongoing buy pressure on the price and users who stake can receieve\na portion of protocol fees over time.<\/p>\n\n\n\nMary | Satoshi Club:<\/strong> Your members will have a lot of incentives!<\/p>\n\n\n\nOliver Mehr:<\/strong>\nWhen an index is redeemed 1% of the index value is required to be burnt<\/p>\n\n\n\nThis offsets the\nemission from other incentives<\/p>\n\n\n\n
it is important to note\nthat our max supply is 100mm but we have built in a feature to turn on\nperpetual inflation of up to 3% per year. This is off by default but can be\nvoted in by governance.<\/p>\n\n\n\n
Mary | Satoshi Club:<\/strong> Thank you for your detailed answers! i see\nPhutureDAO as a good source of passive income!<\/p>\n\n\n\nOliver Mehr:<\/strong>\nIt really depends on the maturity of the Phuture ecosystem. If we are\ngenerating enough fees to cover incentives and validator costs, we will likely\nnot need perpetual inflation. Otherwise we may need it.<\/p>\n\n\n\nMary | Satoshi Club:<\/strong> You leave a space for choice for the future 😉<\/p>\n\n\n\nThank you for your\nanswers! Ready to go to the next one?<\/p>\n\n\n\n
Oliver Mehr:<\/strong>\nYes<\/p>\n\n\n\nQ5 from telegram user @NataliyaKil<\/em><\/strong><\/p>\n\n\n\nPhuture uses keepers to ensure the proper operation\nof the platform. Keepers execute three core protocol functions: Rebalancing,\nRecapitalization and Reweighting. Can you tell us who the custodians are and\ntheir functions, and what is the significance of the functions they perform for\nthe platform? Is there some kind of reward for the keeper?<\/strong><\/p>\n\n\n\nOliver Mehr:<\/strong>\nSo anyone can become a validator. Of course, when we launch Phuture will have\nits own validator but over time we expect third parties to join as well.<\/p>\n\n\n\nYou must bond PHTR\nbecome a validator<\/p>\n\n\n\n
Reweighting == Indices\nthat are based on dynamic data like market cap need to be updated. Validators\nupdate these market cap indices on the platform making sure they have the\ncorrect claim over the protocols assets.<\/p>\n\n\n\n
Mary | Satoshi Club:<\/strong> What does it mean ‘bond PHTR’?<\/p>\n\n\n\nOliver Mehr:<\/strong>\nRebalancing == Phuture rebalances multiple indices at once, that is how we are\nable to massively scale. Unfortunately, this computation is too complex for on\nchain use. So validators run these computations off chain to decipher which\nasset is the best to rebalance and what quantity. This info is then fed into\nthe 0x order router and the rebalance is made.<\/p>\n\n\n\nWe can check validators\nare not sending the wrong info by asking each of them to send us the order they\nthink should be used and comapring the results.<\/p>\n\n\n\n
The honest majority\nwill win and it can be double checked against our own validator node, which\nwill always be correct.<\/p>\n\n\n\n
Essentially, stake PHTR\nwhich can be slashed in the event that a validator misbehaves<\/p>\n\n\n\n
Mary | Satoshi Club:<\/strong> Gotcha!<\/p>\n\n\n\nOliver Mehr:<\/strong>\nOn ethereum validators are rewarded through keep3r network<\/p>\n\n\n\non non eth chains they\nare rewarded through PHTR<\/p>\n\n\n\n
initially the PHTR will\ncome from the treasury but once fees are sufficient to cover costs we will use\nthe fees from the platform.<\/p>\n\n\n\n
making the ecosystem\nself sufficient<\/p>\n\n\n\n
Mary | Satoshi Club:<\/strong> Nice system!<\/p>\n\n\n\nMihai Pisica:<\/strong>\nTbh, I’m in love with it! 😁<\/p>\n\n\n\nOliver Mehr:<\/strong>\nRecapitalisation involves moving assets from yield optimisers to Phuture and\nback<\/p>\n\n\n\nSince we do not keep\nassets idle<\/p>\n\n\n\n
we lend them out or\nstake them in yield optimisers<\/p>\n\n\n\n
but we must always\nmaintain enough assets on Phuture<\/p>\n\n\n\n
and validators ensure\nthat is the case<\/p>\n\n\n\n
Mary | Satoshi Club:<\/strong> And everything works automatically, right?<\/p>\n\n\n\nI mean there won’t be\nany human factors involved?<\/p>\n\n\n\n
Oliver Mehr:<\/strong>\nSo all actions are incentivised to happen automatically.<\/p>\n\n\n\nOf course, we rely on\nother actors to do these actions<\/p>\n\n\n\n
but much like other\ndefi platforms there are incentives in place to ensure proper operation]<\/p>\n\n\n\n
when you look at\nliquidators on lending projects. They are simply incentivised to do their job.<\/p>\n\n\n\n
Mary | Satoshi Club:<\/strong> Everything is clear for me! Thank you for your\nanswers!<\/p>\n\n\n\nQ6 from telegram user @Josewen<\/em><\/strong><\/p>\n\n\n\nPhuture brings more logic to the rebalancing process\nthrough two initiatives; rebalance belts\nand rebalance surfaces. In unison, these\ntwo concepts minimize value leakage through the rebalancing process. Why are there so many changes in Phuture just\ndays before the private sale? Why have\nthey reduced the name, I understand that they were previously DAO, have they\nalready disabled this function? What\ndoes the rebrand symbolize? Ultimately,\nhave you decided to make these changes because of low initial liquidity levels?<\/strong><\/p>\n\n\n\nCharles | Phuture:<\/strong>\nPhutureDAO was the first name we went with, after time we decided Phuture has a\ncleaner ring to it and would be an easier name for non-crypto individuals to\nunderstand\/remember.<\/p>\n\n\n\n