Recapitulation of Enoki DeFi AMA event held at AMA LOVERS CLUB
Date: Wednesday, 21st October, 2020
Time: 14:00 UTC
The Enoki DeFi team was represented by one of the core members of the project. He judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1(a) : Can you introduce yourselves and your backgrounds? Also if you have any other team members, you can also introduce them.
Ans : Sure, so I’m the front-end dev, designer and main writer for the project. I’ve been building mainly web3 projects for high-profile clients ever since I put down mobile development.
Our solidity guy, Wisdom, is an OG in the game, mostly designing, architecting, testing and pushing blockchain protocols to mainnet
Our ecnomist has a literal bank launch under his belt and deep connections from his time in the gaming industry.
Q1 (b) : I’m sure you’re aware of investors concerns about anonymous team project. Can you tell us why the team is anonymous? And if at some point, you’d share your identity.
Ans : We’re anons at the moment becuase we’re usually developing really serious projects. This is our outlet and we would be open to sharing our identities given the climate in 6 months to a year
Q1 (c) : Do you mind sharing some serious projects you’ve worked on or developed?
Ans : Sure, we’ve worked with DxDAO, Centrality, Balancer, Gnosis, IXO and paraswap
Q2 : Can you introduce the Enoki DeFi to us, what critical problems does it solve that existing solutions are not solving? What’s the UTILITY and competitive advantage in this DeFi season?
Ans : The Enoki DeFi Club sits at the intersection of decentralized finance, gaming, experimental governance, digital-first art, music, and community.
In order to cultivate a premier DAO of NFT Artists and DeFi Developers, we will be taking small but decisive steps, delivering software and value to the users during all stages, week after week:
Stage 1: Project and community bootstrapping via YF
Stage 2: Expand the Enoki universe developing multi-platform games in-house and with 3rd-parties
Stage 3: Community owned DEX for in-game assets (ERC-20 / ERC-721)
In the short-term it’s a watering hole for NFT Enthusiasts and DeFi investors. The storyline of the Enoki Forest has been set in motion. Holders of $ENOKI after the first mission will decide where to adventure. There is no pre-mint but the chefs will be minted 5% of $ENOKI over time.
Our long-term vision is to build clout within counter-culture by bootstrapping viral-worthy, grassroots efforts with decentralized, gamified finance. We see these efforts as opportunities to bring in new niches of able, willing DeFi participants.
Q3 : Do you have any top milestones you have achieved so far? What major goals are you aiming to achieve in the coming days?
Also you can share your roadmap if available.
Ans : So we’re really proud of our codebase as it stands. Our geysers are forked from Ampleforth but modified so that $ENOKI holders can take a vote every week on whether to double or halve each pool’s yielding rate.
This gives $ENOKI holders powers of deepening liquidity and dealing with whales.
Major goals in the upcoming days:
1) Onboard more NFT artists and DeFi enthusiasts to our Discord, a place to hang out and collaborate
2) Gather more community feedback and make sure that everyone knows how Mission 0 will work
3) More business development and annnouncing our [REDACTED] pool
The roadmap is shared above
2nd Segment: TWITTER QUESTIONS
Q1 : From the medium, it says “Each mushroom has a different lifespan, yielding rate and cost to evolve”. Can you please mention the available mushrooms with their different lifespan, yielding rate and cost?
Ans : Mushroom: Amanita
Cost: 6 $SPORE
$ENOKI / week: .5
Lifespan: 1–7 days
Cost: 4 $SPORE
$ENOKI / week: 3
Lifespan: 7–21 days
Mushroom: Green Ironwood
Cost: 12 $SPORE
$ENOKI / week: 4.5
Lifespan: 14–28 days
Cost: 16 $SPORE
$ENOKI / week: 8
Lifespan: 28–56 days
Cost: 20 $SPORE
$ENOKI / week: 12
Lifespan: 28–42 days
The mushrooms maintain their lifespan until staked. At that point, they begin to yield $ENOKI and their lifespan is reduced
If they are left staked until their lifespan reaches 0, the Mushroom will be burnt
Q2 : The rewards are established under the stable currency pairs and grow towards the $ENOKI- $SPORE pairs, but what guarantee of security do those pairs have for the users? Do they not imply a risk of falling and collapsing as many tokens currently do?
Ans : For starters, this is a liquidity event with a team, a roadmap and a lot ofa value behind it, so we know many of our holders will be longing us.
$SPORE is also deflationary, requiring around 12% of spores to be incubated into ENOKI-yielding Mushrooms
$ENOKI has a total supply of 12,600. At the moment, not one person holds an $ENOKI
Q3 : What is the effect of the token, ENOKI DEFI, in the ecosystem and near future?
Ans : The Enoki DeFi Club is a DAO owned by $ENOKI holders. The liquidity locked from our event will vest to the DAO over 12 months to do what they’d like with the funds. We hope it is used towards funding new games, bringing on talent, or even doing market buy-backs on $SPORE or $ENOKI.
We will release incremenally, zero-sum DeFi mini-games where sometimes the player wins, sometimes The Enoki DeFi Club wins, adding value to holders of $ENOKI
Q4 : How much did EnokiDeFi spend on the project? Where are the sources of income to run market expansion, project development and building a solid foundation?
Ans : 50% of funds raised from our liquidity event will be vested to the Devs’ multisig over 6 months for:
extending game play, broken down roughly to:
50% Development, Research, and BD
20% Story writing
20% Design & Art
10% Developing Merch
Again, we wish to bush the boundaries on DeFi gaming by creating partnerships between Artists and Dev teams, giving NFT Artists and DeFi enthusiasts new ways of participating together
Q5 : EnokiDeFi is a INNOVATIVE and Unique project which requires best Developments. so,as a Startup Project, Where will be Developments Funding comes from? Do you have fees or ICO or sponsors?
Ans : That’s a great question. You can actually participate in our Liquidity Event, open to the public at 00:00:00 at Enoki.finance
We hope to have a 300-ETH, 6-month runway which we plan to accomplish a lot with.
Becuase our design, development, and biz dev is mostly in house, we’ll be able to build quickly and move with the constant changes space
Though we hope to carve a new sort of community, one welcoming to outsiders as much as it welcomes insiders
One that is fair, reciprocal, creative and transparent
3rd Segment: LIVE QUESTIONS
Q1 : $ENOKI and $SPORES are two different tokens of the ENOKI DeFi. What is the difference between these two tokens? Are both of them ENOKI DeFi token? Why did you decided to use two tokens?
Ans : #SPORES are more of the in-game asset while $ENOKI is the governmental token for the Enoki DeFi DAO. It give holders rights to the DAO and the liquidity initially invested fromteh Liq event. We will also be building games to inrease the value of the $ENOKI and the $SPORE
Q2 : As individual user, what ways can I contribute to the development of Your ENOKI Project? Do you have Ambassador programs and What is its benefit? please tell about it sir🤔🤔🤔
Ans : Of course! Community and global outreach is vitally important to us. We want to be as welcoming to outsiders as we are to insiders, brining more excitement and beauty to the world of DeFi
Q3 : Can anonymous transactions be performed on the Enoki network to hide transaction details to help protect the confidentiality of user information and tokens?
Ans : Not at the moment, however I am a big fan of Dark Forest’s application of the zkSnark.
Q4 : Can you explain what are the differences between the mushrooms and the Spore tokens? Also what are the differences between them?
Ans : $SPORE tokens are the deflationary in-game coin while Mushrooms entitle you to future yields of ENOKI
Q5 : Does Enoki have a plan to promote, raise awareness, and understanding in the community so that more people get to know Enoki?
Ans : Our primary objective until our pools launch will be to explain how Mission 0 works, your options, and keys for team success in ownership over the ENOKI DAO. The pools’ initial yeilding rates and associated mushrooms are designed so as not to forgo control to the whales. Holders of ENOKI can vote on the doubling or halving of our pools. Our pools will include: ETH, UNI, FARM, ETH<>SPORES, SPORES<>ENOKI.
Although ETH 2.0 is delayed to next year, but it will solve all exist problem of ETH and become the best choise for dApps in future, so do you think this is a threat for your project and how could you overcome this barrier?
I don’t think this should be a threat and we’re keeping up with the latest developments in Medalla
Q6 : Where can I buy $SPORE tokens? can i provide a smart contrac from #EnokiDeFi itself to avoid a fake one.
Ans : Visit enoki.finance. Pre-sale will open to the public at 00:00 UTC
Q7 : What does Enoki represent in the world of Blockchain? And what does the Blockchain represent for Enoki?
Ans : Enoki represents the regeneration of quality, fair projects in the DeFi space. Blockchain, to Enoki, looks like a mycelial net ready to transmit messages and build new realities. We’re here to Inoculate DeFi with a new wave of extended-play players, developers and investors
Q8 : No one can grow without help so can you tell me what are te partners that support you in your travel?
Ans : Exactly. We already have a partnership with a native game development firm as well as a blossoming communitiy. The Enoki DeFi club is community owned.
Q9 : 2020 is the year of Defi and Farming yeild, so does EnokiDeFi predict that 2021 will be a trend of any field? And what is the strategy to keep EnokiDeFi from falling behind?
Ans : Who knows if YFing will still be popular? That’s why we have an INITIAL liquidity event. We’re not one of the fork-and-go fast-food yield farming operations where the farm is the only product. YFing is not in our plans for 2021 atm.
Q10 : Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
Ans : First off, we’re not promising magic. We’re pushing it. In the upcoming weeks, we’ll be deepening our organizational structure, tweaking our art direction and preparing our users to understand the rules of Mission 0.
Thank you so much for all of your questions. We hope that you’ll join the Club and forage some delicious Mushrooms and $ENOKI with us.
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