Recapitulation of GodlCoin PROJECT AMA event held at AMA LOVERS CLUB.
Date: Monday, 19th July, 2021
Time: 9:00 AM UTC
The GodlCoin PROJECT team was represented by @GodlMan99 and @Godlenwind who judiciously shared with us detailed knowledge and information about GodlCoin PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourselves and your background, also introduce the team working on the Godl Coin project?
ANS: I’m a software engineer with 9 years of experience. I worked for both big tech and finance companies in the past. Currently, I’m employed at Goldman’s trading desk and got an offer from Facebook but decided to decline in order to do crypto full time.
I handle the administrative part of GODL. Professionally, I am a celebrity lawyer with heavy experience in organizing different projects spanning different fields and demographics.
We also have an ex-pancakeswap dev in our team and a marketing genius with deep connections in the inner circle of the cryptosphere 😉.
Q2: Can you introduce the Godl Coin project, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: To better explain the genius of the token, our main dev will answer this. 🔥
IN A NUTSHELL, ETH REWARDS THAT ARE AUTOMATICALLY DISTRIBUTED IN YOUR WALLET. 💪 You don't have to worry about gas, you won't have to pay for it—WE GOT YOU COVERED.
We envision GODL to serve as an alternative to ETH mining. Whereas ETH mining involves expensive resources, owning GODL is just as simple as holding the coins in your wallet.
Rewards-based coins aren’t new but GODL is the first one to do it in ETH and the Ethereum network. The competitive advantage is our well-connected network of partners and influencers in the cryptosphere which is harder to replicate compared to the technical leg-work.
Anyone can create a new coin by forking contracts and copying code in the internet but the value of the network effects is much harder to pull off.
Q3: So Godl distributes eth to its holders. Fantastic!
How does Godl generate revenue to redistribute?
ANS: You know it 💪 The first and only! Automatic distribution and not manual claiming (although you may exercise this option, but why pay for gas right?)
GODL an applies 8% tax for each transaction (i.e. Uniswap trade, wallet-to-wallet transfer). 3% goes to liquidity and 5% goes to the rewards pool.
The rewards pool is where the ETH rewards come from. This means that the higher the trading volume, the more rewards for holders!
Q4: So the fee charged in $GODL will be sold for ETH and add to the reward pool?
ANS: Yes. The contract sells the GODL after it accumulates past a certain threshold. This is the 0x…488d address, more commonly known as the Uniswap router, which appears on the dextools transactions.
That mysterious 488D that everyone keeps asking about. 😂 Keep in mind you CHADS, it's the Uniswap router and not a whale dumping!
Contrary to popular belief, 0x…488d is not a bad whale that keeps on dumping! It’s performs the necessary task of procuring the ETH rewards for everyone!
Q5: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: We have never banked on hype and false promises. We just give results. 💪 Professionalism at its finest.
For our top milestones:
We got listed on Coingecko just hours after going live. 🔥
We got listed on CoinMarketCap in just 6 days. 🔵
We got the top 1 trending spot on Dextools. 🚀
For the technical milestones, we have achieved:
1. First and only ETH auto-rewards coin in the Ethereum network
2. 69.9 ETH distributed to everyone since launch around 5 days ago
3. First solo runner of the fairtokenproject’s FTP AntiBot library
4. Passed Techrate audit quick check with no issues found
The next technical objective is:
1. Creating a dApp to show the total earnings of a holder in a nice dashboard.
We actually found that someone in our community did this on their own time so we’re actually planning to follow the open-source model from now on in order to get more involvement from the community.
For our target milestones:
1. We will engage a professional marketing agency in the next 2 weeks to expand our reach in different communities globally.
2. We will also officially announce in the next few hours our GODLEN ROAD—our marketcap targets that will be culminated by a giveaway for each milestone hit (hint: it's a road paved with GOLD) 😉🏆
Our roadmap, which details our plan of expansion, which is conservative and professionally sound, can be seen in our website (https://godl.app/). 💪
2nd Segment: LIVE Questions
Q1: Information from your whitepaper says Goldcoin is a a fork from TKI but with a reduced transaction taxes. It's true that High taxes discourage many buyers therefore reducing the trading volume drastically, however, are you also aware of the fact that if the tax that goes to the reward pool is low compare to that of TKI, people might not be encouraged to hodl GODL? What other ways of incentivizing holders have you come up with to help encourage users to hold for longer duration?
ANS: One way to look at lower taxes is a reduced incentive to hold GODL -- that is a valid point. However we look at it as having more options instead. People should be able to trade freely if they feel if that is what is profitable for them. On the other hand, people should be able to hold as well if that is what they think is profitable for them.
Even large ETH rewards will not be enough of a reason to hold if they feel that swing trading would be more profitable for them. Still, this is a win-win because holders will get their rewards and traders will get their gains.
Q2: GODL automatically distributes ETH to you from the reward pool and your rewards are proportional to the percentage of tokens you own in the total supply. There are instances where you're eligible for the reward but weren't given, what causes that?
ANS: This is because the contract has not delivered your rewards yet. The contract delivers rewards to eligible holders in a round-robin fashion. It works by charging an extra amount of gas for each transaction in order to distribute the rewards of those next in line in the round-robin. However, as you may have deduced, this distribution only works optimally if there are many transactions (i.e. high volume). If volume is low, then the contract can only deliver to fewer addresses. Do not fret because your rewards will keep on accumulating until it gets delivered so just be patient and HODL that GODL!
NOTE: Manual claiming of rewards is also possible but gas fees will be shouldered by the claimant.
Q3: I see the $GODLcoin has made a lot of progress in the last 24 hours, What has been your biggest challenge and how do you hope to implement future plans and projects if you have any?
ANS: The biggest challenge? PAPERHANDS. 😂 How will we address this? Information and education. That's how DIAMOND HANDS are made, and that's why we're here! 💎
A lot of people in the cryptosphere blindly ape into projects without thinking whether this would benefit them in the long run. By educating people about the genius of GODL, people would realize that holding on to real projects like GODL would give them better yields than gambling mindlessly into different random coins (like, aren't you tired of being scammed and rugpulled 10 times a day?). Small brains play the casino, GIGABRAIN CHADS who understand finance and how it works find gems like GODL and HODL. 🏆
We know you know better. Be part of the winners circle and buy yourself some GODL. You know you want to. 😉
As regards implementing future plans—still the same. Underpromise, overdeliver, and uphold professionalism above all else. We never give fake promises or false hype, we believe in transparency and we make it happen; always on time, never late.
Q4: I understand that the GODL token does not have any use case aside for getting reward in ETH/ETH tokens, people are scared of projects with no real life use case because of tendency of rug pulling and other security challenge.
1) is there a possibility the Project can run out of eth to reward holders if for instance the number of holders becomes too high? What happens to the project as a whole if you run out of reward for holders?
Secondly? Why did GODL choose to build on ethereum network which is way more expensive as against bsc and other blockchains?
ANS: 1. The rewards pool will not run out as long as there are transactions. It is true that the percentage of the pot you own will become smaller as time goes on but this does not mean that your rewards would be smaller because the pot also becomes larger.
2. We chose to run it on the Ethereum network because we believe that it is more future-proof compared to BSC. Ethereum is much more technically and politically decentralized unlike BSC which is totally under control of Binance. Given the recent regulatory crackdown on Binance, this problem becomes more and more obvious.
Also, we believe that EIP-1559 and ETH 2.0 would make Ethereum scalable enough to eliminate the current short-term advantages of BSC and other smaller/faster networks.
Follow Us On Our Various Social Media Communities For More Update;
Kindly read the whitepaper if you haven't yet! https://www.dropbox.com/s/6pmqijucy721vo5/godl-whitepaper.pdf
Everyone loves free stuff! Well how about free ETH!
COMPETITION RUNNING: https://godlcoin.medium.com/godl-buy-hodl-meme-and-win-1-000-669561942bd6
$GODL is the first project on the ethereum network to award holders with ETH reflections, automatically! No extra gas fees, just watch the ETH flow in! The more $GODL you hodl, the more $ETH you get! GODL automatically distributes ETH to you without having to claim manually from the rewards pool. Distribution happens every few hours and rewards are proportional to the percentage of tokens you own in the total supply.
✅ Coin Gecko
✅ Polished Website
✅ GODL Roadmap
✅ Creative Community Contests
✅ Upgradable contract
✅ Auto Liquidity
✅ Auto ETH Rewards
✅ Perfect IDO on UNISWAP and Community presale (100ETH raised)
✅ Huge marketing funds and professional/transparent team
GODL, the coin that automatically pays you ETH by just HODLING, is now live on Uniswap!
🔥 HODL that GODL! 🔥
Videos all c/o @BuZZiNNiT, who did it for the community!
That would be all! YOU GUYS HAVE BEEN AMAZING. Looking forward to welcoming you into our amazing community! 🔥
🏆 HODL THE GODL 🏆
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