Recapitulation of Civitas Fundamenta AMA event held at AMA LOVERS CLUB
Date: Sunday, 8th November, 2020
Time: 16:00 UTC
The Civitas Fundamenta team was represented by Hooftly. He judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you please introduce yourself and your background, also if you have a team, the team should be imtrocuded
Ans : Well my Name is Matt Hooft and I am a self taught developer who also has 8 years experience in Business to Business sales and Project management. Im the Founder and a developer of Civitas Fundamenta which is a registered corporation in Edmonton Alberta Canada.
We also have Steve Medley (known as angrywasp) who has over 20+ years experience in all facets of programming specializing in c#. He is from Wagga Wagga Australia and is currently heading up development of Wrapped Monero which is slated for release in Q1 2021.
We have 7 other team members so in the interest of time ill direct you to our Bios page at https://fundamenta.network/theme/bios.html
Q2 Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap
Ans : Civitas Fundamenta is our company. The Fundamenta Token (FMTA) is our governance token. We aim to be a for profit venture that shares its success with its users. The token itself is Elastic in supply by having a configurable supply cap. We are building multiple platforms but chiefly among them is our community governed capital funding platform which will award grants each quarter to a project of the communities choosing. The grants will come from a Reserve fund currently being built through Funding Emission which is explained on our white paper. We both have loose milestones and a long term roadmap. the items on our LT Road map are:
1 - Build a Privacy Advocacy Fund that will help fund yhe fight for privacy
2 - Awarding Multiple grants through the community governed capital platform
3 - New Blockchain. We want yo build our own Ethereum Virtual Machine compliant blockchain much like Binance did with Binance Smart Chain
4 - Tokenized Assets like stocks, mortgages, insurance.
5 - Venture Capital. If we are able to build a significant fund we will engage in Venture capital with profits being returned to the reserve fund.
We will annually buy back and burn FMTA possibly making supply deflationary and bottom line is the better the reserve fund does the more we can burn.
We are also building a new protocol called Liquidity Cycling. This will simultaneously inject and extract capital from markets stimulating volume as well as fees to find the reserve fund.
We are also building Wrapped Monero as a revenue stream to further fund the reserve fund and this actually crosses of item 1 from our long term roadmap as 10% of revenue will go to the Privacy Advocacy Fund.
2nd Segment: TWITTER QUESTIONS
Q1 : Is it take any fee during funding emission shared between seed investors and how we can sell token from funding allocation into liquidity pools?
20% of the fees made from providing liquidity through funding emission are distributed to the original investors who helped provide the first liquidity pool. The remaining 80% are used to fund the Reserve Fund. Funding emission flow is shown in the below chart.
Q2 : What is the relationship between Community Fundamenta and Monero and How will Community Fundamenta generate revenue with Wrapped Monero (WXMR)?
Ans : There is no formal relationship between Civitas Fundamenta and Monero. We see an opportunity for revenue as well as support thr fight for privacy (as does monero) so this seemed like a natural thing to build. Revenue will be generated by taking a percentage based fee from every swap to WXMR from XMR and back. Of the revenue collected, 45% will go to the Civitas Fundamenta Reserve Fund, 45% will go to continued operations of WXMR, and last but not least 10% will go towards a community governed Privacy Advocacy Fund which is the first item on our long term road map.
Q3 : What are the advantages of using Liquidity Cycling both in the voting infrastructure and on the platform you create, and how to make the Token supply flexible, printable, flammable, and supply limit configurable?
Ans : Great question. Liquidity Cycling and the Parallel Liquidity Balancer (PLB) will be constantly and simultaneously injecting and extracting capital from Automated Market Makers (AMM) and Centralized Exchanges. It will use funds from the Reserve Fund as well as Mint tokens to provide liquidity to AMM's while at the same time removing liquidity as well as buying back FMTA from markets for the purpose of both distribution to users each month as rewards as well as burning a percentage of the aquired FMTA by the PLB making supply possibly deflationary at times. This will all be oracle governed by polling market data and feeding parameters to the PLB to dynamically manage Liquidity Cycling.
The same priciple will be applied to the community governed capital platform to raise funding for winning participants. The only difference is it only Liquidity Cycles once a quarter and stops once required funding is achieved.
The token itself is designed with Role Based Access Control (RBAC) which allows Smart Contracts to interact with it securely and making it extremely extensible. It was built with a configurable supply cap that can be changed by a user or contributing with the proper Role access. The same goes for minting and burning. Only accounts or contracts with proper role access can mint or burn. All the roles and what contracts/users have them can be audited via public functions in the Token Contract.
3rd Segment: LIVE QUESTIONS
Q1 : You have mentioned that FMTA token supply is elastic, What is the meaning of this? Does it mean that supply will not be fixed amount or what?
Ans : Our Supply cap is configurable which means it can be both raised or lowered. 100M was chosen at launch but Civitas Fundamentas mandate is pretty simple. Grow the Reserve fund as much as possible so we can buy back and Burn as much FMTA as we can Annually. Eventually we want the cap to be oracle/community governed and we forsee it being lowered substantially after the first buy back/burn.
Q2 : I observed that you moved the unlocked liquidity that was waiting to be locked in your liquidity mining contract to a new ETH-FMTA pair. Why is this so? Was this a unanimous decision taken by the team or community?
Ans : A vote was taken in the Telegram community and every vote was for moving the liquidity over to an ETH-FMTA pair. Until civiDAO our community governance platform is built votes will be taken on major decision in the community.
Q3 : Civitas Fundamenta is building a community governed capital funding platform that will utilize Liquidity Cycling.
How would you explain Liquidity Cycling to me and other people that hear this first time in life and don't know what this is?
Ans : Liquidity Cycling is a Protocol in development that will utilize our Reserve Fund and an Oracle in coordination with a system we are building called the Parallel Liquidity Balancer to simultaneously Inject and Extract Capital from Automated Market Makers and Centralized Exchanges. This will Aquire FMTA buy buying it from the markets which will then be distributed as rewards to holders each month. A percentage of what is aquired will also be burned each month as well. At the same time Liquidity will both be added and removed with removal at a slightly slower pace than adding. the removed liquidity will then be added back to the reserve fund. Added liquidity is created by taking funds from the reserve fund and Minting tokens through the Parallel Liquidity Balancer. This balancer will be governed by an Oracle as well as factors that are community governed through our civiDAO governance platform.
Hooftly please do you have any Final Words for community, also do good to share every useful links to project with us and where and how we can purchase FMTA
Ans : Thanks for having me amaloversclub. In the end users will be the ones who make or break us. We are doing things differently than other projects in terms of bootstrapping our funding. There was no presale or pivate sale and we put up the initial liquidity pool with team members funds. We are building Wrapped monero as revenue stream for our reserve fund but its not going to be the last value add we build. Aside from the liquidity cycling protocol Civitas Fundamenta plans to supplement the reserve fund with multiple ventures like Wrapped Monero. As our business grows so will the amount of fundamenta tokens burned each month/year. With a configurable supply cap that we plan to lower the appreciation in price could be large as we can lower supply coupled with buying and burning of tokens. Its complete market synergy in my opinion.
you can purchase FMTA on Uniswap we have an ETH-FMTA pair as well as USDC-FMTA
We want to build something substantial that rewards its early adopters and community.
You can also stake FMTA tokens for daily rewards and passive income. no minimum but there is a cap of 30K FMTA which yields 60 FMTA per day.
You can also check us out on dextools where our score is 99
Thanks for having us amaloversclub
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