Recapitulation of ASTRALCOIN PROJECT AMA event held at AMA LOVERS CLUB
Date: Thursday, 11th February, 2021
Time: 10:00 AM UTC
The ASTRALCOIN PROJECT team was represented by @Amirasedehydrogenase who judiciously shared with us detailed knowledge and information about ASTRALCOIN PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the Team working on the AstralCoin Project?
ANS: Ok. Good day everyone. My name is Bakare Toyosi, I'm a blockchain developer and a proud team member of AstralCoin (ASX) project, under the ZGM foundation. I'm from West Africa.
The team working on ASX project are all from the foundation also and we are creating a project that can be useful for everyone, a gamer or not.
We have Zgm Adet, he is the team leader and CEO of ZGM foundation
@zlater he is the lead marketer
and we have @Ini_tomiwa our community moderator and we also some other 2 to 3 members that are helping the community out.
Q2: Can you introduce the AstralCoin Project, what critical problems does it solve that existing solutions are not solving and what's the competitve advantage?
ANS: ASX project is designed to reward gamers, holders, the community and also investors. The critical problems we are trying to solve is we are not just focusing on the video game community, we are taking everyone along in defi. We extend our hand towards the board game community like chess, scrabble, and many more.
We organise partnership with either online gaming platform and even the physical gaming platform
Whereby creating a payment system that suite every areas.
The problem is alot of players are missing out in online or physical tournaments maybe due to high payment system through the centralized platform. So ASX project want to reduce the stress and spending for the general gamers
In terms of the community, we help by getting partnership from other gaming platforms to and organising a community competition or bounty where the community can win free lottery to participate in big events
In terms of holder, we implemented the holders earn innovation whereby holders earn through transaction taxes. You don't need to stake or connect to any external dapp, token are automatically sent your wallet. This reduces the risk of hack vulnerability or extra gas fee to regular claims or staking
For investors, we know how alot of scam investment have made them lose money, also they are scared and even looking for trusted financial platform to push their investment into.
our lending and borrowing platform will be use to reward them and with the system we are applying it is trusted.
Q3: Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Right. We have achieved alot and i might say we haven't started. We already have the support of the CNO chess community, with over 1,500 chess players.
Contract was tested regularly on kovan and ropten net before deployment
Contract was verified and audited by a senior developer
We already have our presale token on unicrypt and almost ready for sale.
We will get listed on uniswap.
Our lending and borrowing platform will start after listing (date tba)
The reason why the lending and borrowing platform will be the last thing is because we want to ensure the security and approval and also the best format we can use to serve our investors right.
Second Segment Live Questions
Q1: In most Centralized finance, payments takes about 7 to 24 working days before it would be processed. Is this the same with AstralCoin? How soon are prize payments being processed to event winners on your platform and at what cost?
ANS: No, it is not the same with AsX, all prize payment will be paid before 24 hours once all results are collated and once will get listed on uniswap. Well, at no cost, it is your prize and you deserve it.
Q2: ZGM Foundation is an organization set up to reward its people.
How do you generate revenue for project sustainability? Or is this project corporate social responsibility?
ANS: Thank you. ZGM foundation is also Non government paired and we only live through little expenses from the support of th community, we set a goal, we make target, we are only paid through hardwork. And we are happy doing our work.
Q3: Can you tell us more about your borrowing program? If there is no form of collateral, how do you ensure that the individuals who borrow these money will be faithful to pay? How do you plan to get your funds from defaulters?
ANS: Yes, very good question. The crypto world is defi, so we are creating a easy loan access to our holders and other firms. If holders come for loan if it just a simple loan, you will get 70% to 80% of your total holdings and ASX token you hold will be as your collateral with cheap fees added (rate) and also a suitable payback month. Although, you loan get increasing with time
if you want a high loan at instant you will get to fill a form and the finance team will see into it and must get back to you within 24 hours.
Just a hint, i hope my boss don't kick me out for this 😅😅. All ASX holders are entitled to loan once it start.
Q4: It says in your website that ASX smart contract reduces risk of hack vulnerability during staking or external contract interfaces, that's great news, but how often will you complete an audition for your smart contract? Will you make any partnership for security terms?
ANS: Yes, currently we are on the talk for audit and we already have a fixed agreement. Audit results will be out towards listing. But we already proof everything right contract is open source so you can also confirm yourself.
Q5: As a chess community decentralized payment token and other gaming platform, what are the benefits of $ASX for long-term investment, and why did you choose the UNISWAP market as a $ASK trade, what do you think about ethereum extremely high transaction fees, what is your solution?
ANS: The long term benefit is the frictionless yield (hold and earn) and also the deflationary mechanism. And also front lead in any gaming partnership ASX sign.
Uniswap was considered to be the first because of the popularity and key defi practice. We want our holders to have the freedom to their wallet not any centralized governance. But meanwhile, it is part of our plan to get a suitable CEX trading platform.
Hahaha, yes ethereum gas fee very high and we think it will soon be corrected and go back to normal.
Another hint 😅😅, the team are making decision to move to either Cardano Blockchain or BSC but we are waiting till full development of both before action. That might be by April, i guess.
Omg, i'm so getting fired 😅😅
Q6: ASTRALCOIN provides loan facilities, why do you provide facilities, aren't agricultural and staking facilities more popular nowadays, what are the main targets for ASX token marketing, and how is the development of $ASX today? explain that your project has a bright future?
ANS: Yes my friend, you are right but because we want something that can suite everybody. Think about, not every loaners or borrowers might farmers but every farmers might be loaners or borrowers.
Then for staking we already have frictionless yield which is the new world..
Yes, this is part of marketing and we are just getting started, we are developing proving that we migt be the new potential to the community. Help spread the word.
Yes the future is bright bring board game to defi, AsX might be the first project doing it and defi is creating alot of opportunities you know. This is 3.0 of the financial system.
Q7: Do you have token burn plans, if you do please share.
ANS: Yes, we do it is implemented in the contract, a 1% burn on every transactions leaving holders with good long term proportion as we move. And depending on the need and maybe if required some of the team or marketing or presale token can be burnt manually.
I love burns 😅😅
Q8: Why did you choose to use blockchain, what’s the purpose of the ASX?
ANS: I think i explained this before. Yes blockchain is new advancement to the world. It started from financial banks to online banks now defi ( blockchain)
Q9: Where it will be listing soon,dex or cex? And how will you get users from all over the world and what are the features of this project to invest in longterm,please explain?
ANS: Dex is uniswap. We will keep promoting, marketing, partnering and spreading the word everywhere. We have you guys support, we are unstoppable.
I think i explained the features. That is frictionless yield
Lending and borrowing
Black hole deflationary and lot more
Block is faster and also transactions are in block and can't be hacked or twisted.
Deflationary will reduce the supply leaving long holders with great yield.
Q10: What is the main vision that your project wants to achieve in the cryptocurrency market? Obviously the entire space will experience huge growth in the coming years, but what role would you like your project to play in this?
ANS: The main vision is a stable payment system.
The role we will like to pay to create an interest for everyone also introduce defi to gamers that are new to it.
Q11: I see that you are very concerned about hacks and external contract interface, but I feel that you have had a bad experience, have you ever had a hack? Or is it just tough ownership of the project? What actions have you taken to provide your investors with an environment safe from these risks and dangers?
ANS: 😅😂😂. I love your sense of humor. Well, no hacks yet but we are always trying to prevent, we don't like that experience nobody does.
Yes, we will continue regular audit before action to ensure safe security.
Q12: Frictionless Yield Farming and Deflationary Mechanism..What will be the huge contribution of implementing these two mechasim in AstralCoin Ecosystem?What are the advantages And how do you control the deflation?
ANS: I explained all this. Yes
It is controllable in the contract by taking the burn to zero.
For More Information Please Visit The Links Bellow;
▪️Coingecko (coming soon)
▪️Uniswap (coming soon)
▪️Dextools (coming soon)
▪️Main chat (https://t.me/joinchat/U6BZnepggsT1qTX7)
▪️Announcement channel (https://t.me/joinchat/TuOIS0SilVzdsUKp)
▪️UncBot (coming soon)
▪️UniRocket (coming soon)
Best regards to you.
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