{"id":9846,"date":"2021-06-04T09:50:48","date_gmt":"2021-06-04T06:50:48","guid":{"rendered":"https:\/\/esatoshi.club\/?p=9846"},"modified":"2021-06-04T09:50:51","modified_gmt":"2021-06-04T06:50:51","slug":"petro-swap-x-satoshi-club-ama-recap-from-1st-of-june","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2021\/06\/04\/petro-swap-x-satoshi-club-ama-recap-from-1st-of-june\/","title":{"rendered":"Petro Swap x Satoshi Club AMA Recap from 1st of June"},"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 Petro Swap<\/a>, a platform that allows the creation\nand trading of fuel derivatives, with an architecture managed over four stages:\nPetro.Pay b2b, Petro.Pay b2c, Petro.Swap, and Petro.Swap Defi. The AMA took place on June 1 and our guest was\nRobert Martin, CTO at Petro.<\/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

Mary | Satoshi Club: <\/strong>Hello Satoshi Club! We are happy to announce\nour AMA session with Petro.Swap! Welcome to Satoshi Club.<\/p>\n\n\n\n

Robert Martin:<\/strong> Hey Guys, Great to be here!<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>we\nare excited to hear more about Petro.Swap, but for the beginning we will ask\nyou to introduce yourself to our community.<\/p>\n\n\n\n

Robert Martin: <\/strong>We\nare Petro. Petro is fuel trading startup platform, Petro, is seeking to do just\nthat, tokenizing derivatives of oil, gas, and electricity products to leverage\nthe existing fuel card market and introduce fuel trading to defi. It allows\nfuel suppliers to create liquidity pools to earn additional revenue from their\nproducts and consumers to buy futures when price meets expectations, helping\ncreate a mutually beneficial ecosystem.<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Gotcha,\nthat’s really interesting! What is your role in Petro.Swap project?<\/p>\n\n\n\n

Robert Martin: <\/strong>I’m\nCTO at Petro. I had quite a lot of experience also both in trading commodities\nand selling them to enterprises\/businesses. Fortuitously, it also means that I\nhave connection that will be of a great help when building our vision of Petro!\nBecause partnerships and Capital Investors are really crucial cog in the\nmachinery of every Crypto Project that goes doubly so when we are talking about\nfuel tokenization and B2B sphere.<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Yes,\nexperience is very important to build working project! Who else is in Petro\nteam? I couldn’t find info on your site.<\/p>\n\n\n\n

Robert Martin: <\/strong>Apologies\nfor website not being informative. The work on the website functionality is\nongoing and you might even see real-time changes 😎. Currently we have\naround 20 employees. This also includes remote developers, marketing, and\nadvisors. Our team is built on the backbone of both experience in the field of\nfuel-based derivatives as well as enthusiasm and passion about crypto. We\nstrive to coalesce the two and for that we need both knowledgeable people in\ncommodity markets and crypto professionals.<\/p>\n\n\n\n

Q1 from Telegram user\n@h1drX  <\/strong><\/p>\n\n\n\n

The $ PETRO pre-sale\nwill be launched in the middle of June, according to the information from your\nMedium, the main function of $ PETRO is to buy commoditized Fuel cards. What is\nthe usefulness of these cards? Also, does $ PETRO work as a utility token? That\nis, a type of utility token that allows anyone who has one in their power to\naccess products and services that are provided by a private party. Something\nlike a promise.<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong>In\nbasic terms fuel cards represent the fuel you are buying since you can’t really\nbuy barrels. $PETRO token is an integral part of the platform. It is currently\nthe only currency that will act as a financial instrument on the platform and\nwithin the ecosystem. On top of that, in the initial stages of the development\nwe will give opportunity to our users to partake in liquidity pool staking\nadding another layer of utility on top.<\/p>\n\n\n\n

There are also some services that can be bought exclusively\nwith $PETRO on the platform. We will provide more info on that further down the\nline.<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Where\nyour pre-sale will take place?<\/p>\n\n\n\n

Robert Martin: <\/strong>We\nare still settling the negotiation details with our IDO platform. We can’t give\nanything at this point in time. We are aiming at Early-Mid June. Follow our\ngroup for the latest updates! https:\/\/t.me\/petro_official_group<\/a><\/p>\n\n\n\n

D. | Satoshi Club: <\/strong>and\nalso can you share with us info about upcoming pre-sale? what people need to\nknow.<\/p>\n\n\n\n

Robert Martin: <\/strong>Certainly,\nwe will have 3 rounds in total:<\/p>\n\n\n\n

Special Token Sale Round. 50 000$ worth of $PETRO tokens are\nreserved for this round. Details on how the round will be conducted and what\nare the requirements will be revealed in the upcoming days. Vetting will be\nspread across 10 months with 10% being distributed each month. Initial price:\n0,025$.<\/p>\n\n\n\n

Private Round. For Private Round 150 000$ worth of $PETRO\ntokens are reserved. Private round is, in most cases, an opportunity for\nVenture Capital investors to have a stake in the project. Vetting will be\nspread across 10 months with 10% being distributed each month. Initial price:\n0,04$.<\/p>\n\n\n\n

Public Round. 50 000$ worth of $PETRO tokens are reserved\nfor this round with no monthly vetting. Initial price: 0,064$.<\/p>\n\n\n\n

Q2 from Telegram user\n@Ruttiee<\/strong><\/p>\n\n\n\n

The Petro platform\nallows for the creation and trading of fuel derivatives, with an architecture\nmanaged over four stages which are: Petro.Pay b2b, Petro.Pay b2c,\nPetro.Swap,and Petro.Swap Defi. To better understand your project,Can you\nbriefly discuss these four architectural stages of the Petro platform? Who are\nthe key players in each stage?<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong>Our\nmain idea is to cater to every group by singularizing every stratum of people\nand deliver our promise to make fuel-based trading more accessible to wider\naudience.<\/p>\n\n\n\n

Petro.Pay b2b allows businesses like truck fleet operators,\ntaxi firms, and logistics companies to purchase the fuel they need from\nsuppliers like gas stations and oil depots. The platform consists of Super\nAdmins (the Petro technical team), Admins (business consumers), and Users (the\nemployees or contractors of those businesses).<\/p>\n\n\n\n

Petro.Pay b2c also allows retail customers to use the system\nand purchase fuel. This is the very first step towards opening the gates for\nretail investors to get into the commodity fuel-based market<\/p>\n\n\n\n

Petro.Swap takes things a step further, allowing oil, gas,\nand electricity suppliers to attract even greater liquidity via tokenized derivatives.<\/p>\n\n\n\n

Petro.Swap Defi provides an Automated Market Maker (AMM) on\nthe Ethereum network, creating a liquidity pool for the tokenized oil, gas, and\nelectricity market where fuel suppliers can sell deliverable futures contracts.<\/p>\n\n\n\n

D. | Satoshi Club: <\/strong>oil,\ngas, and electricity things are you mainly focusing, are you have plans to\nextend sphere and work with other commodities in the future?<\/p>\n\n\n\n

Robert Martin: <\/strong>Commodity\nmarket is HUGE hence if\/when the opportunity to expand on our currently\navailable “inventory” opens – you can be sure we will add more.<\/p>\n\n\n\n

D. | Satoshi Club: <\/strong>got\nit! and are you planning to building your DeFi only on Ethereum? or it possible\nthat you will support other blockchains as well?<\/p>\n\n\n\n

Robert Martin: <\/strong>We\nare concentrating our efforts wholly on Ethereum and its potential in the\nfuture. We are not excluding the possibility of enlarging our pool of networks\nthough.<\/p>\n\n\n\n

Q3 from Telegram user\n@Highpee  <\/strong><\/p>\n\n\n\n

You will be leveraging\non mass expansion and popularity of smartphones to integrate mobile apps as a\nmonitoring and management tool. What type of apps are you planning to build and\nwhat distinctive management features will your app have which will allow a\ntransparent and accurate tracking of fuel transaction between clients and\ncustomers? Also, will the app be able to carry some blockchain activities in\naddition its primary transaction tracking functions and can users use it to\nstore $PETRO or any other crypto asset?<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong>Trading\nfuel-based derivatives might be confusing and daunting for a lot of people\nthat’s the reason why we’ve decided to create\/design an app that will make it\neasier to control fuel management and motoring expenses. An increase in the\nadoption of smartphones then will help bring fuel cards into the digital\nsphere, with the ability to capture mileage, fuel consumption, and vehicle data\nin real-time. Our app will mostly focus on expanding and supplementing the\nplatform capabilities and making it easier to interact with the market. And\nyes, you will be able to store $PETRO there!<\/p>\n\n\n\n

D. | Satoshi Club: <\/strong>your\napp will be operating on both systems – ios and android? for using app user\nshould store some amount of your tokens there?<\/p>\n\n\n\n

Robert Martin: <\/strong>Indeed.\nBoth operating systems will be fully compatible with Petro app.<\/p>\n\n\n\n

D. | Satoshi Club: <\/strong>any\nplans to create your own crypto wallet?<\/p>\n\n\n\n

Robert Martin: <\/strong>As\nof yet we have a clear focus on the app and platform. Wallet functionality may\nbe added later but we don’t see it as priority right now.<\/p>\n\n\n\n

Q4 from Telegram user\n@Arisabela  <\/strong><\/p>\n\n\n\n

Petro Swap is basing\nits ecosystem on the use of fuel cards around the world and the adoption of\nthese fuel cards in the digital sphere through smartphones, however in less\ndeveloped countries this system is in most cases totally manual and obsolete,\ndoes Petro plan to take on this challenge too? To bring the digital world and\nimproved with tokenization and the use of smart contracts to third world\ncountries?<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong>With\nthe help of blockchain technology, its decentralized nature, and tokenization\nfeature of Ethereum we plan to transform the current notion of commodity market\nbeing inaccessible because of the regulatory measure or\/and any other tight\nrestrictions. We want to make commodity market more open to more diverse\nvarying groups of people and nationalities. Our app will be the first step\ntowards making it more accessible.<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>What\nis your plans for nearest future? Your biggest goals?<\/p>\n\n\n\n

Robert Martin: <\/strong>We\nare not looking too far in the future. We tend to concentrate more on the goals\nin the closest proximity. All four stages of development are expected to be\ncomplete by Q4 2021 while aiming for 100,000 app installations, 10,000 active\nusers, and 50,000 liters of daily fuel transactions within the same timeframe.<\/p>\n\n\n\n

Q5 from Telegram user\n@victorogb  <\/strong><\/p>\n\n\n\n

Looking at the\ninformation on the roadmap, a core aspect of Petro\u2019s platform development are\nscheduled for stage 1, which involves the unboarding and integration of partner\ncompanies (oil, gas and electricity) as well as traders in these sectors, to\nthe Petro.Pay B2B platform. Therefore, how does Petro choose the companies and\nretailers to partner with, what are the underlining criteria? When should we\nexpect the Petro.Pay product to be fully developed and functional, and what are\nthe estimated timeframes to the full development of other Petro\u2019s products?<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong>We\nselect our partners based on set of criteria: relevancy, notoriety, and them\nhaving genuine interest in Petro. Currently we already successfully concluded\nthe first investment leg and secured 500k$ of funding. As was mentioned earlier\nwe expect to accomplish our goals by the end of Q4 of THIS year. Since we have\nbeen developing Petro platform for some time now, we are not going to bore you\nguys with unnecessary drag of waiting for months before the MVP is functionable.<\/p>\n\n\n\n

D. | Satoshi Club: <\/strong>do\nyou already have some partnerships with other projects or firms, which you can\ntalk of and share with us?<\/p>\n\n\n\n

Robert Martin: <\/strong>You’ll\nhave to wait for the Sales to start. We will be slowly releasing our partners\nand investors. That’s a marketing choice.<\/p>\n\n\n\n

Q6 from Telegram user\n@kimterbear<\/strong><\/p>\n\n\n\n

Petro Swap introduced\nan application where users especially those who own vehicles that consume gas\nfor daily transportation will be able to buy gas in advance where the market\nprices for fuel is low. However, price hike and roll backs are regularly\nexperienced in gas stations nowadays. It made me think if these irregular\nmarket movements cause an effect to this application? Wouldn\u2019t it be unfair for\nthe gas stations if the gas were prepaid in the app or are there selected gas\nstations who made partnerships with you where this app will be available for\nuse?<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong>We\nwill include only trusted, reliable, and knowing partners who fully realize the\nunpredictability and caveats that can happen. Fortunately, commodity market is\nprone to be less volatile than some of the other market ventures. So even if\nthis kind of even happens, there won’t be any massive repercussions for our\nplatform.<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>What\nabout your platform security? Do you plan to audit it?<\/p>\n\n\n\n

Robert Martin: <\/strong>We\nfully rely on Ethereum blockchain and its innate security measures. We also\nwill be audited possibly by Hacken.<\/p>\n\n\n\n

\n\n\n\n

PART 2, TELEGRAM COMMUNITY LIVE\nQUESTIONS<\/strong><\/p>\n\n\n\n

The chat was open for 120 seconds; a\nlot of questions were posted by Satoshi Club community. Our guests chose some\nof them.<\/p>\n\n\n\n

Q1 from Telegram user\n@Kushal85127939<\/strong><\/p>\n\n\n\n

Please share how much\nmoney have you raised till now for growth?<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong>We\nhave already secured an initial 500k$ investment from our private partners and\ninvestors.<\/p>\n\n\n\n

Q2 from Telegram user\n@gimogom66<\/strong><\/p>\n\n\n\n

Does your foundation\nonly peoply of your own country or all over the World?<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong>We\nare currently hiring people from all parts of the world. No discrimination!<\/p>\n\n\n\n

Q3 from Telegram user\n@shu3638<\/strong><\/p>\n\n\n\n

“STAKING” is\none of the STRATEGIES to ATTRACT USERS and HOLD Them long term. Does your GREAT\nPROJECT have plan about Staking?<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong>We\nwill have incentivization that will reward users for contributing to Petro\nliquidity pool.<\/p>\n\n\n\n

Q4 from Telegram user\n@Smaviatalib<\/strong><\/p>\n\n\n\n

Can you share us\nTokenomics and how much token is reserved for team and how much will be\navailable for public?<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Q5 from Telegram user\n@smelekin<\/strong><\/p>\n\n\n\n

Nice project but\nelectricity prices changes country to country so how do you decide which price\nwill be for electricity?<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong>We\nwill have oracles that will pull information on the current prices from the\ndatabase.<\/p>\n\n\n\n

Q6 from Telegram user\n@csgonub<\/strong><\/p>\n\n\n\n

You said currently you\nhave 20 employees so do you plan to hire more people into the project?<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong>We\nare! If you feel like you would be a great fit to our team – be sure to message\nme directly and we can set up an interview!<\/p>\n\n\n\n

Q7 from Telegram user\n@My1queen<\/strong><\/p>\n\n\n\n

You said you rely on\nEthereum blockchains for security measures. Why is this choice?<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong>We\nsee Ethereum as a matured enough blockchain that have all of things we need to\nbring to life our vision!<\/p>\n\n\n\n

Q8 from Telegram user\n@shi9627<\/strong><\/p>\n\n\n\n

COVID 19 has reduced\nmany economies around the world but as a crypto business has it affected you\nnegatively or positively??? Secondly are you still on track achieve your\nambitious targets as the road map says?<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong>Pandemic\nhas been quite a nuisance. But after a month of working remotely your kind of\nget used to the whole routine and it doesn’t budge you any way!<\/p>\n\n\n\n

Q9 from Telegram user\n@sheikhhsaab<\/strong><\/p>\n\n\n\n

As i learn #Petro is a\nBest project for investment in Satoshi Club AMA so tell me how I can invest in\n#Petro to get $PETRO tokens?<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong>I\nrecommend waiting for sale and follow our group for announcements. We plan to\nhave Sales start Early June https:\/\/t.me\/petro_official_group<\/a><\/p>\n\n\n\n

Q10 from Telegram\nuser @captainprice111<\/strong><\/p>\n\n\n\n

Why should traders\ntrust you and trade oil with you? Also, what infrastructure will companies that\nwant to supply oil with token swap use?<\/em><\/p>\n\n\n\n

Robert Martin: <\/strong>Our\ntrust will be based on the companies, enterprises, and partners that will\nsupport us. On top of that we are veterans of the industry and have already\nearned integrity.<\/p>\n\n\n\n

\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 Petro Swap. A link to a\nQuiz form was sent into the chat. Participants had 10 minutes to answer. 300$\nwere distributed 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