Recapitulation of ODINALA NETWORK AMA event held at AMA LOVERS CLUB group chat

12 min readSep 16, 2020

Date: Wednesday, 16th September, 2020
Time: 10:00 UTC
Venue: https://t.me/amaloversclub

The ODINALA Network team was represented by Emmanuel, Head of Communications with Odinala Network , Joseph, Tony, and Zubaire. They judiciously shared with us detailed knowledge and information about the project.

1st Segment: INTRODUCTION

Q1 —Can you Kindly introduce yourself and ODINALA Network to us, and also tell us your background?

Ans — Thanks for having me on this group guys. I am Emmanuel, head of communications with the odinala network. Our Network is currently holacratic based meaning everyone is part of the team board, but is composed of seven dedicated professionals and two advisors. My background is in Enterprise computing and software development. I am a crypto enthusiast and early investor in this space, co-founding a blockchain based startup in Ireland. Since then I have been involved in several crypto projects working in both marketing and raising funds for projects. Currently based in Luzern switzerland and working as a Senior IT Consultant at the digital factory of one of biggest banks in Switzerland.I am responsible for marketing coordination and sourcing investors for our project here in switzerland.

Hi Guys I’m Joseph, I’m currently a project manager at one of the world’s largest market research firms which specialises in financial services and Management consulting. I have a background in property and real estate management and acquisition, while also being an avid crypto trader and blockchain fan. I have a professional and academic background and hold a masters in Business and my main role here is strategy, business development and building partnerships with relevant property personal and entities.

We are a group of friends that group up together and kept in contact as we went our separate paths and
After seeing the rise of many defi projects due to the volatility and risk within the crypto space. We decided to merge the two most disruptive emerging technologies. Using tokenized real-estate to give investor more opportunities in a less volatile asset class
Odinala Network has a unique business model, we utilize the blockchain technology in the real estate and financial services to take part in this new digital economy.
The Odinala marketplace makes real estate investing a reality and mitigates issues surrounding ownership using blockchain tokenization. This platform is aimed at disrupting the real estate industry by digitizing real world assets, lowering the barrier to entry, allowing small scale investors to profit from otherwise expensive assets.

Odinala DEX on the other hand gives investors the opportunity to trade cryptocurrencies and access to other services such as collateralized lending, peer to peer trading and more. Our native Odinala token will be used for governance, in-app subscriptions, trading fees and discounts for tokenized asset investments.

Our solutions that aim to bridge the gap of emerging blockchain technology and the everyday investor. Bringing together DeFI and tokenized real estate assets we aim to develop an ecosystem with the two most disruptive technologies of 2020. Creating new opportunities for investments in the crypto space and less volatility by giving people access to fractional investing into real estate.

Q2 — Can you explain what real problems Odinala is solving that existing solutions are not solving at the moment?

Ans — Our solutions aim to bridge the gap of emerging blockchain technology and the everyday investor. Bringing together DeFI and tokenized real estate assets we aim to develop an ecosystem with the two most disruptive technologies of 2020. Creating new opportunities for investments in the crypto space and less volatility by giving people access to fractional investing into real estate.

As an Odinala Network investor, you will gain philanthropic satisfaction from being a part of a world changing enterprise and also reap financial benefits from the rise of these new technologies.

We are solving issues in real estate also. Lack of liquidity, need for intermediaries, long transaction time and etc. All this is made easier when powered by blockchain

Q3 — Can you briefly tell us what milestones you have achieved and what major milestones do you want to achieve going forward as well as your road map?

Ans — Sure here’s our road map, to show you what we have done and what we have upcoming

Q2 2020:

Private fundraiser for the project launch

Development team formation

Targeted market research

Economic Regulation Analysis

Q3 2020:

Website goes live

Finalised whitepaper and launch

Partnerships & Advisors formation

ODN Token Sale

Initial Exchange Listing

Q4 2020:

Multiple exchange listing

Github Code release

Smart contract auditing by 3rd party

Staking Goes Live

Full Marketing Campaign

End to End Testing & Launch of Odinala Marketplace

Development of Odinala Mainnet

Q1 2021:

Partner with financial institutions in target markets.

Finalise Development of Odinala Mainnet

User testing of Odinala Dex

Whitepaper will also be dropped today with all additional information on the project

2nd Segment: TWITTER QUESTIONS

Q1 — Why is Odinala Network focusing on Real Estate? Is blockchain also useful in Real Estate? What are the benefits of blockchain in Real Estate?

Ans — well to answer that i guess it’s important to paint a picture of the issues with acquiring real estate currently

Not open to everyone typically working in and profiting within these economies has been largely reserved for the rich, very few assets manage to provide the same degree of passive income and capital appreciation.
Registration Processes The structural process of registering for acquiring assets such as property in the third world is a tedious one and becomes more convoluted when you are not physically present. Real estate agents, developers, and lawyers can relate to this challenge.

Lack of Liquidity Now we come to one of the most significant problems with trying to acquire assets in the third world.. They are notoriously difficult to liquidate. Liquidity is defined as how quickly an asset or investment can be converted into cash.

High Interest Loans due to lack of liquidity people unfortunately fall prey to the high interest loans on offer in these geographies investment requires a lot of capital up front. More often than not, investors have to look at expensive alternative methods of financing, which makes them become prey to the high interest rate system in a lot of world . The biggest problem they face with the high interest loan setup is that they commit to paying off significantly more than the principle over time.

We want to tackle all of this with our solution and help bring one of the oldest Industries in the world to the 21st century

We focused on the real estate market because real estate can be leveraged and the assets appreciate in value over time. We feel like it is the perfect market to invest in.

Q2 — What are your global expansion plans? Are you focused on the market? or focus on something else, for example your platform development and users or partnerships?

Ans — At the moment we are heavily focused on building the right partnerships as opposed to simply scaling as quickly as possible we want to create a real long term future and the right partnerships are to key to doing that especially in an Industry like real estate.

we have already began working on partnerships to ensure we have a steady pipeline of attractive assets for our community to engage with and already have two confirmed partners both based in Europe and are currently in talks with additional developers to expand our network even further.

Q3 — Can you describe the Odinala marketplace? What are the products can be buy and sell in your marketplace? Can explain more about the process of purchasing and paying in Oidinala marketplace?

Ans — Receiving Payments For the first phase of our marketplace, all listed properties will be rented properties. In order to prove the reality of tokenized real estate in its fullest, it is important to illustrate the full rights of Odinala Token owners.

The rent, net of operating costs including property management fees, insurance and real estate taxes, is then exchanged for USDT stablecoins by the property management service or the Managing Member and submitted to the Odinala rent contract associated with the property.

Receiving Payments For the first phase of our marketplace, all listed properties will be rented properties. In order to prove the reality of tokenized real estate in its fullest, it is important to illustrate the full rights of Odinala Token owners. Receiving rental payments from tenants is one of the most salient mechanisms in which full rights over the property are conveyed. Receiving rental payments also makes our marketplace offerings more enticing. While ownership of property via a token is noteworthy; adding in rights to the cash flows generated by rent from tenants makes things far more interesting. The rent from tenants will be collected by the property management company we will establish.

Users who stake ODN tokens on the Odinala DEX will also enjoy 20% of all fees generated from the marketplace annually.

Q4 — How can we be sure this is a good project? Due to today’s severe crisis some of the tokens are losing value … called “SHIT TOKEN”

Ans — We have incorporated several methods to encourage users to hold our tokens long term. Until our dex has been built we are working to finalise partnerships to enable users stake their ODN tokens. Staking ODN tokens initially will give early adopters a chance to earn a 5- 15% discount on all tokenized assets on our marketplace. This incentive will be subsidised by the team to benefit all Holders of ODN token.

Additional 20% of all revenue will be distributed to all stakers of ODN token annually on top of the normal staking rewards. We hope to create an ecosystem where investors hold long term to gain more value and profit from our project.

We will also be adding 60% of funds raised as liquidity during uniswap listing locked for 18 months and will vest some funds raised during presale to maintain future liquidity if needed. We are here to stay for the long term.

Q5 — Most investors are only interested in the short-term benefits of the project. What potential does Odinala_Network have to attract long-term investors to invest in the project?

Ans — Our project will succeed due to the fact that We have already hired a marketing specialist and are in the process of finalising a full marketing campaign to begin in Q4. This marketing strategy will help us continue onboarding new investors long term.
This will consist of Content Marketing, Paid Social Marketing, Incentivising virality, Partnerships, and more.

3rd Segment: LIVE QUESTIONS

Q1 — Could you please elaborate more about your tokenomics? What’s the total supply and what kind of plans do you have regarding the token unlocks in the future?

Ans — Token symbol: ODN
Total supply: 8,000,000 ODN

Consensus Rewards — 1 500 000 ODN (18.75%): Allocated for Validators, Holders, and Stakers rewards on ODN blockchain. Locked until staking begins.
Liquidity and Reserve — 1,000,000 ODN (12.5%): Allocated for exchange needs, such as market-making deposits or Uniswap liquidity pools. Locked until launch of DEX.
Marketing and Promotions — 800 000 ODN (10%): .Unlocked, but the address is available for the public and any transfers from this wallet will be announced in advance. This will be used to promote ODN token and confirm contract deals with current influencers on our pipeline.
Team — 800 000 ODN (10%): Locked until September 2021 after mainnet release and released annually after that.
Advisor — 400 000 ODN (5%): Locked until September 2021 after mainnet release and released annually after that.
Pre-sale 1 — (1,500,000 ODN (18.75%): 1 ETH = 2413 ODN
Pre-sale 2 — (1,000,000 ODN (12.5%): 1 ETH = 2439 ODN
Public sale — ( 1,000, 000 ODN 12.5%): 1 ETH = 1613 ODN
Initial circulating supply: 4,300,000 ODN

Q2 — Do you have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to invest?

Ans — All of unsold coins from Pre-Sale 1 & Pre-Sale 2 will be burned as we’ve specifically allocated amounts for this.

1,500,000 ODN Tokens in Pre-Sale 1
1,00,000 ODN Tokens in Pre-Sale 2

We are looking to keep this as exclusive as possible.

Q3 — Trust and security is very important in any business , what makes investors , customer and users safe secure when working with your project?

Ans — Very good question . All the smart contracts for pre sale and the crowdsale will be verified on Etherscan and are forked from open source audited projects with best practices . We will also open-source all our code and make our Github public soon to increase transparency

Q4 — Can you please tell us some of your partners at Odinala and with which kind of partners are you planning to collaborate with in the near future?

Ans — Unfortunately until we become public we cannot divulge this as we are working on finalising things around the legality. Once that is secured we will be to provide a lot more information on our secured and upcoming partnerships

Q5 — How does Odinala network search for and offer the best real estate deals worldwide and how to ensure that deals will never go bankrupt?

Ans — We want to work with top quality developers to ensure we are providing only the best assets on our marketplace hence we are working so hard on building the right partnerships first and foremost to ensure the longevity of our project

Q6 — At this point, do you think you need exchanges as a binance to keep growing? Or is it better to forget those things and focus on other activities.

Ans — Great question. the future of crypto is decentralised exchanges . after our presales have concluded we will list our project on UniSwap . We may partner with traditional exchanges such as Binance and Coinbase later

Q7 — Mention the reasons why choosing $ODN as an investment? What are the long-term benefits to be gained?

Ans — Odinala intends to solve the many challenges faced by investors looking to own real estate and access to digital financial services. We believe the introduction of everyday investors into the tokenization of the real estate through odinala will push for the advancement of these emerging sectors. We will ensure the process of investing in the Real Estate market will become effortless and quick. Our dex will complement this unique ecosystem allowing users to hold, stake, trade, and access lending solutions using cryptocurrencies.

As an Odinala Network investor, you will gain philanthropic satisfaction from being a part of a world-changing enterprise and also reap financial benefits along the way.

Q8 — Most investors simply focus on the price of the TOKEN in the short term, and not on the real value of the project. Can you tell us about the motivation and advantages of token investors in the long term?

Ans — This is where we differ from other projects on this network. We are here for the long term and aim to bring the power of real estate to the everyday person. Property investment has always been something that was only available for the rich due to significant barriers to entry. This project will change the way property investment occurs in the near future. Not only will your token assets increase in value, your physical assets will also.

Q9 — Where does the project name come from? What does it mean for you and why did you choose that name for your project?

Ans — It’s an ancient African concept relating to taking ownership and leadership. We wanted a name with meaning and purpose

Q10 — Are you a global project or local project? Can anybody anywhere use Your project without any restrictions?

Ans — yes we are global and will operate as such we want to give everybody in the world the same opportunities irrespective of where you are based and using blockchain we ensure this can be done securely.

Q11 — COVID 19 has slowed many economies around the world but as a crypto business has it affected you negatively or positively? Secondly, are you still on track to achieve your targets as the road map says??

Ans — Covid 19 has not affected us as we are working remotely and meeting with our partners weekly and they are heavily invested in our project. We are very much on track of achieving our goals set out in the roadmap. Stay tuned in

Q12 — How important is the community to you? and how can we collaborate or help you for the development of the project?

Ans — Community is number 1 for us hence why we are working on speaking with different communities to get ourselves out there and ensure that people can directly address any queries with us and no doubt is left in anyones mind.

CONCLUSION

Q1 -Do you have any Final Words or Important information you would like to give the community?

Ans — Thanks for the questions guys. I see some really good questions here. Please don’t hesitate to ask these questions in our TG chat

https://t.me/OdinalaNetwork

Please join the Tg and as mentioned we’ve got the whitepaper coming which will address a lot of your questions

Follow ODINALA NETWORK on their platforms:
… Website: https://odinala.io/
… Telegram Chat: https://t.me/odinalanetwork
… Telegram Channel: https://t.me/odinalanetworkann
… Twitter: https://twitter.com/odinalanetwork

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