Recapitulation of KrootWallet PROJECT AMA event held at AMA LOVERS CLUB.
Date: Friday, 27th August, 2021
Time: 13:00 UTC
The KrootWallet PROJECT team was represented by @Soul_eat_er and @JinJassaWarr who judiciously shared with us detailed knowledge and information about KrootWallet PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourselves and your background, also introduce the team working on KROOT?
ANS: Sure, You can call me MK Mike. I take care of the Intricate details of kroot, making sure the work doesn't stop.
I have some experience in managing roles.
I am Wizard, I use my magic to make sure all announcements and extra details are made available to the community.
KROOT is an incubation from KuCoin Launchpad (KCLP) 🤞 & further introduction of team roles will have to wait 🤓.
Q2: Can you introduce KROOT, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: KROOT is what you can call a feature-rich decentralized wallet made to offer ease to those who don't want to keep track of Multiple dApps or Wallets for various Stakings, Farms or Chains, this is one among the many problems that we will solve via #KROOT Wallet.
As for the competitive advantage that KROOT holds over other wallets, there are currently 0 wallets that natively support KuCoin Community Chain (KCC) and we are starting with just that.
Another advantage can be the number of in-app functionalities, like Staking, Farming, Governance, Coin Tracker, Bridge, and many more that will be added to our KROOT Wallet.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Currently, we are in the initial phase and are working on multiple things without rest.
We are currently working on our upcoming IDO of $KROOT with KuCoin Launchpad (KCLP), our wallet, the bridge that will be available with it, and some small surprises for the users of the KROOT Wallet App.
Next, we will start working on a KROOT #NFT Collection, Token Tracking System, and the In-App Governance.
We have a few other plans too, and the same is visible in our Roadmap for 2021 & 2022.
Q4: The token/coin tracker seems to be an important feature of the Krootwallet, can you briefly describe how it will work?
ANS: It will be mainly used to show the changes in tokens available on KCC Chain. We have plans to span it out to other chains too and make it something like the popularly available token trackers.
But ours will be accessible via our app directly. 😁
Q5: Can you briefly describe your PARTNERSHIPS so far?
ANS: Sure, we've been working on this from the beginning and started with the selection of KuCoin LaunchPad as our first partner as well as our project incubator. They're guiding us in various aspects and most probably we will announce $KROOT IDO details by tonight as we test and finalize everything is perfect from our end.
Another partner is Crypto Promoters Global, they are assisting us with their marketing skills from shilling in various groups and on Twitter handles, community management to conducting AMA in various groups and many other things.
The journey with them has been fruitful so far and we are looking forward to more success and progress as we move forward.Also, we are working on getting more value-adding partners on board.
Q6: Can you give an overview of your Tokenomics, and the UTILITY of the $KROOT Token?
Our Tokenomics has been designed with care, with community-building activities and Marketing Funds being given special attention while it was being designed.
A healthy amount of 25% of the Total Supply has been allocated for Staking & Farming 🚜 Rewards.
Moving to the Utility part 🐱
$KROOT Tokens will fuel the ecosystem of our KROOT Wallet, it will also be used for Staking & Farming that will be available in the Wallet. And finally, it will be used for Governance.
Also More details are available in our whitepaper. We have more utilities coming for the $KROOT Token. So, our community can expect more.
Functionalities of KROOT Wallet are given in this article 🔗 https://medium.com/@krootwallet/k-root-features-38f7752ae2a2
Also,Giving this a read 📖 will clear many doubts about the same. 😁
Also, here is a link to our whitepaper 🔗 https://k-root.co/WhitePaper.pdf
2nd Segment: LIVE Questions
Q1: How soon can we expect the KROOT Wallet? Are your developers confident enough to deliver everything promised on the whitepaper available on the website?
ANS: KROOT Wallet is expected to be released in Q4, 2021.
Much of the functionality will be available along with that. Our Devs are working on it rather aggressively and things are going in the right direction.
As for how confident our developers are in making KROOT a reality.
The K-ROOT wallet will be offering several features and although it might look too hard from the outside, it's not much of a challenge for our team to implement them successfully, because these features are derived from what our development team has already worked upon in the past but in separate projects.
So, you can be sure that they are experienced enough to make K-ROOT a reality.
Q2: Can i know will it be a MultiChain product or will stick to only two chains that is BSC & KCC,and if it is a multichain product how soon other chain will be integrated on it.
ANS: Yes, #KROOT will be a multi-chain undertaking that will support cross-chain transactions.Initially, we will be launching KROOT on BSC & KCC for now and the other chain integration will also be there in the future.
Q3: Obviously, Trust Wallet will be your top contender in term of mobile app crypto wallet. Does KROOT has some unique features that Trust Wallet currently do not have? How would you convince the community that KROOT is more superior and better than its competitors?
ANS: Yeah, that's the kind of question I love🥴 Comparing our wallet to the existing Big Shots.
K-ROOT will have a definite edge over many existing wallets because we have an In-Built Staking & Farming feature. Although Trust has Staking options too, they are sorely lacking in the Return they provide.
Add the In-App governance, Cross-Chain bridge, Price Feed & support for All EVM Compatible Chains, KROOT will come out superior. 😁
We are sure the mentioned features cannot be found in one single wallet but our K-ROOT wallet will have them live & functional by the end of 2021.
Q4: Every project do have their audit for the investors trust.will,we see any audit of KROOT or it will be a without audit launch because that will matters a lot in terms of trust and security.
ANS: Yes, we understand that. And KROOT will not skip this crucial step.We will be having the Smart Contract of KROOT Audited by a well-known firm. And the audit report will be available post-listing.
As for why it's not available beforehand, we have to keep the Contract Address SAFE from prying eyes 😂😂.
Q5: Will the bridge that the KROOT wallet is making be safe? (poly chain vibes you know, they got rekt).
Also, having a bridge that connects to multiple chains seems complicated. Is your team experienced enough to make it a reality?
ANS: Yes, we are doing everything to ensure that the KROOT Wallet will be secure and won't leave any gaps open for some hackers to exploit.
Our dev team is well-experienced & has worked on various cross-chain projects that have taken off rather well and are still working without a hitch so you can be sure that they will manage the complexity well and make it easier to implement.
And, we will be using Security Protocols that have been created by ourselves as well as adding the available Open-Source security measures added with Audits by 3rd Parties to ensure that nothing is left unprotected.
As for what happened with PolyBridge, it was a wake-up call to many & our development team is working to ensure that nothing like that will happen at KROOT.
Follow Us On Our Various Social Media Communities For More Update;
Hello 👋 K-ROOT Community⚡
It is generative to have you onboard in this exciting journey. We're very certain that we can achieve great things together 🤝
👉 For our startling Community, we've started a Gleam contest to reward our early supporters 🥳🥳
💰 Rewards worth $5,000 in $KROOT are up for Grab to 250 random winners 🏆
Gleam 🔗 gleam.io/ybydf/kroot-airdrop
🌐 Our social channels :-
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