Recapitulation of Cobalt Lend AMA event held at AMA LOVERS CLUB

Venue: https://t.me/amaloversclub
Date: Wednesday, 25th November, 2020
Time: 16:00 UTC

The Cobalt Lend team was represented by @cobaltlend1. 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 introduce the Team working on Cobalt Lend

Ans : The essential member of our team are as follows:
*Rodney Wrapp Founder and CEO / DEGREE: B.A. Economics
*Jason Kegal Head of Culture and Development / DEGREE: B.A. / US Military
*Mitchell Wrapp Founder & CFO / DEGREE: B.A. PSY & Business / US Military
*Mickel J. Head of Marketing & Development / DEGREE: B.A. Philosophy& Computer Science
*Lauren Nonce Head of DEV Team 1 / DEGREE: B.A. Self-Proclaimed Expert Solidity Coder
*Toda Barne Dev Head of Dev Team 2 DEGREE: N/A Graphic Designer & Python & Java Coder
We also have about (15) independent contractors and freelancers

Here today speaking is Micthell / Axl / Marley - Axl and Marley are new additions to the public relations department

Q2 : Can you introduce the Cobalt Lend project, what critical problems does it solve that existing solutions are not solving and what’s the competitve advantage

Ans : Cobalt Lend is a Mobile solution for community voted borrowing and lending on the blockchain - we are also including a few key features in our dashboard to help with small business adoption - let me explain

Cobalt Lend plans to bridge the gap between small businesses and the digital community by developing a user dashboard that solves all their monetary need both in the physical world and our digital society.

Cobalt Lend will achieve “Real Market Adoption” by having an ALL-IN-One mobile user dashboard that encompasses everything the average person needs to conduct business in today’s digital society. The Cobalt lend User DashBoard is your link the crypto community and allows you to actively take part by voting on anything that takes place inside that community.

A) The user /community member will have a safe and secure place to stake your crypto currency to the Cobalt Lend Treasury in order to lend out to the community and make various other community voted investments, allowing the user to earn a modest APY of up to 10%
B) The community member will have the availability to process any kind of payment from any other individual whether it be crypto currency or credit card all inside the mobile dashboard without third party merchant involvement
C) The user will have full access to a community voted and driven ecosystem that facilitates lending and borrowing from a community governed treasury. The entire ecosystem belongs to you, the community – so you decide how it operates

Q3 : Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap

Ans : Our biggest goal for 2020 was to have the userboard ready for voting and staking to coincide with the IEO and we are now live and ready

Our next goals are to have our dex up and running buy the spring of 2021 to provide a revenue model for the treasury and community

Our software suite for processing credit cards along crypto currency transactions inside the user dashboard is almost ready for a open Beta test version and will be released to the public in Jan 2021

2nd Segment: TWITTER QUESTIONS

Q1 : How can I as a community member (wallet holder) borrow money for my small business? Please break down the steps. Thanks

Ans : We made it easy: 1st sign up for an account with Cobaltlend.com 2nd make sure you have the min. 2 CBLT in your wallet to pay the fee to submit proposal to the foundation for review to the community for a vote. 3rd communicate with Cobalt Lend Foundation on details of loan and locking collateral. 4th and final step wait for community vote (1 week) if your approved by community vote -funds are sent to you immediately (See cobaltlend.com for complete details)

Q2 : Can you share with us a list ofaccepted crypto currency available on the Cobalt Lend Software Suite?

Ans : Great Question! Right now our DEV team is focusing on making sure the user can accept any ERC20 token or coin through the mobile dashboard along with Bitcoin of course. A few other chains are in the works as well, but the only one that is close to fruition is BNB or Binance chain and we are on track to release the integration of that chain with our software suite as well in Jan 2021

3rd Segment: LIVE QUESTIONS

Q1 : I’m really excited about cobalt lend. When will cobalt token pre-sale start?

Ans : The Private Presale for legacy investors is going on right now for just a few more days until the IEO starts. Get involved in the Private presale here - cobaltlend.com/token-sale/

Q2 : Building a community is important. Do you have airdrops or giveaways for our community?

Ans : Yes we believe that the cobalt (CBLT) token belongs to the community and we have had a large scale EarnDrop going on now for two months and doesn’t end until 2021 see details here cobaltlend.com/earn-drop/

Q3 : You say this system creates a pool. But how do you maintain the security? I mean how community can know if they shound approve for lending or not?

Ans : All details of the borrowers proposal will be available to the voter for review - The community only shares in interest earned from successful loan repayment. It is in the voters best interest to actively participate in the ecosystem and research each project. Its your community - you take control!

Q4 : After creating my wallet and invest, when will I get the vote priviledge on Cobalt Lend ecosystem?

Ans : All proposals to vote on will be available inside your user dashboard for 7 days. Its cost one CBLT token to vote and your vote entitles you to share in interest earned by the treasury from these loans

Q5 : Cobalt trade Kucoin binance???listing?

Ans : Uniswap / Mooniswap / Bancor / BeeEx.com - Following IEO and Our DEX will be ready in 2021 / More exchanges will follow and KuCoin is next on our list

Q6 : What sytems do you have for to guarantee increase of the Cobalt Token value for investors -like coin burn- or other things?

Ans : The Cobalt (CBLT) Token has many incentive models for example:
The Cobalt Token is required to pay the fees to participate in the community for voting and submitting proposals to the community for vote.
The Cobalt Token is also issued as an incentive to both parties within the ecosystem (Staker & borrower, similar to other popular DeFi reward mechanisms)
The Cobalt lend Treasury will conduct periodic “Buy Backs” of the token in order to continually reduce the supply in circulation,. The frequency and amount of these “Buy Backs” will be determined by community vote.
The Cobalt Lend Protocol has instituted a burn protocol so that a small portion of all fees collected will be burned and therefore creating more deflationary pressure on the Cobalt Token.

Q7 : Many people make current projects using current Blockchain technology, and the drawback is mostly fraud, when their presalle is active but after the presalle is finished they disappear, then is there a guarantee for investors that your project will continue to run even though one day CobaltLend experiences a decrease in price very deep?

Ans : Two things liquidity is LOKCKED on BeeEx.com for a week after sale to ensure trading liquidity also liquidity pools are already set up on Uniswap, Mooniswap, and Bancor - these will be stocked for trading following the IEO
and the best NEWS of all - STAKING
Cobalt Lend 1st Opportunity To Stake Your Cobalt (CBLT) Tokens
All Participants Of The IEO Will Receive The Following Bonuses For Staking
Anyone who purchases during the IEI will receive an automatic 5% of their purchase amount bonus to be airdropped one week after the close of the IEO sale / trading on BeeEx.com
All IEO participants who continue to hold / Stake their CBLT Tokens for 30 days will receive an additional 7.5% (Paid out after snapshot of blockchain shows no movement of CBLT for 30 days)
All IEO participants who continue to hold / Stake their CBLT Tokens for 60 days will receive another 5% after the 60 day point of close of trading on BeeEx.com
The Cobalt Lend Treasury will continue to pay out an additional 5% every month thereafter to all IEO participants who continue to Stake their CBLT Tokens

To Be Eligible:
Once you receive your Cobalt Tokens from the IEO, your staking percentage will be based on the amount of CBLT NOT moved from your wallet month to month. Each month a new snapshot of the blockchain will be taken to determine the percentages to pay out. Any CBLT moved from the original IEO destination wallet will NOT be eligible for staking.

WE are very proud to announce this special bonus first here in this channel

Special IEO Bonus:

Cobalt Lend 1st Opportunity To Stake Your Cobalt (CBLT) Tokens
All Participants Of The IEO Will Receive The Following Bonuses For Staking
Anyone who purchases during the IEI will receive an automatic 5% of their purchase amount bonus to be airdropped one week after the close of the IEO sale / trading on BeeEx.com
All IEO participants who continue to hold / Stake their CBLT Tokens for 30 days will receive an additional 7.5% (Paid out after snapshot of blockchain shows no movement of CBLT for 30 days)
All IEO participants who continue to hold / Stake their CBLT Tokens for 60 days will receive another 5% after the 60 day point of close of trading on BeeEx.com
The Cobalt Lend Treasury will continue to pay out an additional 5% every month thereafter to all IEO participants who continue to Stake their CBLT Tokens

To Be Eligible:
Once you receive your Cobalt Tokens from the IEO, your staking percentage will be based on the amount of CBLT NOT moved from your wallet month to month. Each month a new snapshot of the blockchain will be taken to determine the percentages to pay out. Any CBLT moved from the original IEO destination wallet will NOT be eligible for staking.

Q8 : What distinguishes cobalt lend from other lending projects?

Why do you only have a mobile application And what do you have for pc users?

Ans : We are completely community driven - this means you have a good idea and want to change something about Cobalt lend, submit a proposal and get the communities support & make it happen - we are what the world need. All voices heard! and as far as the mobile Dapp vs PC - we have both check out cobaltlend.com

CONCLUSION

Thanks for all answering you can share where can buy token and social media..

Ans : https://www.beeex.com/xo/item/CBLT-USDT-7081-20201111161540
Our social media can be found in the footer of our website cobaltlend.com

@cobaltlend #CBLT #COBALTLEND Make sure to check out token sale at cobaltlend.com/token-sale/

Your community has been very welcoming to us today - we really appreciate that!

Follow Cobalt Lend on their platforms:
 ... Website: https://cobaltlend.com/
 ... Telegram: https://t.me/cobaltlend
 ... Twitter: https://twitter.com/CobaltLend
 ... Medium: https://medium.com/@cobaltlend
 ... Reddit: https://reddit.com/user/cobaltlend
 ... Github: https://github.com/cobaltlend

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