AMA Satoshi Club x Lithium Finance , August 4th

We are pleased to announce our next AMA on August 4th 2021 at 01:00 PM UTC Time: Satoshi Club x Lithium Finance

⚠️Click to see the hour
⚠️Total Reward pool: $500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Lithium Finance Telegram group

We will have the following structure:

Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.

Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Lithium Finance Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Lithium Finance

For more details:
Lithium Finance Website – lith.finance
Lithium Finance Telegram – @lithiumfinanceofficial
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

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Cakebwoy
Guest
Cakebwoy

Since the whitelist is ready, how do yoh successfully notify all those that have been whitelisted? And how strong is your security system to completely eradicate scams.

Telegram Username
Jeffren_son
Sandra
Guest
Sandra

I love staking & farming will always be interested in the Staking where investors get passive income from, so With the staking reward program coming up on August 5th, what are the Staking Pool pairs at Lithium Finance?
Will you also include burning tokens in the future to reduce the supply of the token and increase its investment?

Telegram Username
@Tetee95
Levent
Guest
Levent

Your project is not only interesting but also important, So it needs a large user traffic to be sustainable over time. What marketing strategies do you have planned to increase the validity of your brand? You recently partnered with Huobi Ventures and NAOS finance, what will this collaboration bring to the community at large?. I’m excited to know this

Telegram Username
@Chidi73
Ann
Guest
Ann

How does Lithium plan and master accurate peer forecasting? Recent advances in peer forecasting capabilities allow people to be consulted for answers without access to the basic truth? Can it make price predictions quickly and inexpensively?. Do we see it collaborating with other Oracle project?

Telegram Username
@Ann Adiele
Blessing
Guest
Blessing

On the usage of Lith token, please explain how Bounties of Lith and Wisdom nodes work.. Are there rewards attached to this and how is it distributed? How does this mechanism position Lithium finance ahead of others in the DeFi space?
What are other utilities of Lith token?

Telegram Username
@Ble73
Ije
Guest
Ije

I have been whitlisted and I’m excited. So after the IDO, what plans do you have for the community and how do you ensure that the project keeps moving on. What are we to expect in the few coming weeks? Will staking, farming be available?. I would love to know

Telegram Username
@Ij73
Kaushalya
Guest
Kaushalya

You are launching a pre-staking rewards program tomorrow. Please let us know whether it is open for the public or limited to the early supporters. By the way, there is a staking APY of 60% with a 20% bonus for the first week and unstaking is available anytime one week before the mainnet launch. Don’t you think this program can create a sell-off situation? All stakers can unstake their holdings with great rewards a week before the launch and sell them at the time of launching the mainnet. They can earn a huge profit because the buying pressure is normally… Read more »

Telegram Username
@DK177
Kaushalya
Guest
Kaushalya

When looking for a project to invest, investors definitely read the whitepaper, see the experience of the team, examine the roadmap and pay attention to the tokenomics. These are three vital components of a project. However, I could not find your whitepaper, roadmap or the tokenomics. Without having a clear idea about your milestones and token allocations, how can we invest in Lithium Finance? Your website presents details about the founders. Qualifications and experience of team members have not been mentioned anywhere. Do you think these information are irrelevant for the community? Or do you have a plan to reveal… Read more »

Telegram Username
@DK177
Mohamed
Guest
Mohamed

Where can I buy your tokens right now what is your current contract and how can I buy them?Will you have any other DeFI feature like staking, yiekd farm or NFT in the future? Can share a little about your roadmap?$

Telegram Username
@muskelon1
Mohamed
Guest
Mohamed

Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?$$

Telegram Username
@muskelon1
Jose Gamboa
Guest
Jose Gamboa

Virtually all of the listed chain protocols use publicly available pricing information. Lithium is generating prices that are not available in the chain and most are not available anywhere, pricing the ones that are priceless. This is what sets lithium apart from other chain protocols. But what is the source from which lithium drives prices? How do you guarantee to encourage the best responses from all sources?

Telegram Username
@josegamboac
Jose Gamboa
Guest
Jose Gamboa

Can you explain how is the process of formulating questions in lithium to get response from the nodes? How is the question mechanism to obtain a fundamental truth in lithium?

Telegram Username
@josegamboac
Jose Gamboa
Guest
Jose Gamboa

lithium is the world’s first crowdsourcing pricing protocol for private assets. They are the bridge between traditional finance and DeFi. Can you explain what the crowdsourcing protocol is and how does it work? How do you establish the links or bridges between traditional finance and DeFi?

Telegram Username
@josegamboac
nadir
Guest
nadir

Lithium Finance aims to synergy with all defi platforms. How will you manage this? Do you already have a plan and a well skilled team members? How challenging will it be for Lithium Finance to bring traditional traders, brokers and investment bankers together in this project?

Telegram Username
@xperia3
nadir
Guest
nadir

Can you please explain the Specific Rewarding Process? Does this mean every users will get different amount of rewards according to their activities? How will the DMI-Mechanism attribute to this feature?

Telegram Username
@xperia3
nadir
Guest
nadir

What is Proof of Wisdom Staking (PoWS)? What is the main different of PoWs when you compare it with the normal Proof of Staking (PoW)? Is this feature of Lithium Finance make it more fair for users?

Telegram Username
@xperia3
javisubs
Guest
javisubs

Hello Lithium first point of this question what does it mean for you to set the price without price? What strategies does lithium use to be the first protocol that manages to fix the price of illiquid assets? Since there are today many DEFI protocols with limitations due to the lack of prices of illiquid assets, how does Lithuin reverse this and fix the price?

Telegram Username
@JaviSuBs™
javisubs
Guest
javisubs

Many users of the community are starting and we want to learn about the projects, understand the performance and trust that they generate, tell us what is an AMM Convergence? and is it possible to exchange private assets in the DEFI sector or space converting them into fractional NFTs?

Telegram Username
@JaviSuBs™
javisubs
Guest
javisubs

Hello Lithium, the protocol design caught my attention, but how to achieve a fair price and have good performance at the same time, without being manipulated? and how do you keep data privacy and what kind of security do you use to keep your data safe? finally, what is a set of node of wisdom? Could you explain it please .. thank you

Telegram Username
@JaviSuBs™
Miriam
Guest
Miriam

We are all familiar with Proof of Stake and Proof of Work consensus protocol and now Lithium Finance has what is called Proof of Wisdom Staking (PoWS) Can you briefly explain to us the benefit of this concensus protocol and how will the incentive structures implied by these algorithm affect participation in the protocols themselves and the services built on top of them?

Telegram Username
@Cheriemike
Miriam
Guest
Miriam

Lithium will first power Convergence Finance AND Linear Finance,what are the purposes and strategies of both finances on Lithium?What do you mean Lithium will first power Both Finances? Divergence Ventures is one of your partners is there any difference between it an Convergence Finance?

Telegram Username
@Cheriemike
Miriam
Guest
Miriam

Lithium is the FIRST protocol to regularly price illiquid assets and can do this quickly and inexpensively, enabling price discovery for illiquid assets, just like stock. Due to a low trading volume, illiquid assets tend to have a wider bid-ask spread because of the absence of readily available markets for such assets.How will Lithium Finance help the owners of the illiquid assets not to have significant losses due to insufficient market depth and lack of willing buyers?What benefits will a Illiquid assets owner have for investing in Lithium Finance long term?Will you give a higher yield in the future compensating… Read more »

Telegram Username
@Cheriemike
Melissa
Guest
Melissa

I read that in Lithium Finance there is something known as “Wisdom nodes”, Wisdom Nodes receive a set of questions and answer the multiple choice questions and stake their answer. Who can become a “Wisdom node”? If a wisdom node gives an incomplete answer, what would happen? Is this evaluated by the Lithium Finance team? I also read that these windom nodes can have a reputation, how can they increase the reputation? And what would be the consequences of having a low reputation?

Telegram Username
@ItsMelissa3
Melissa
Guest
Melissa

You mentioned that the interactions between Wisdom Seekers and Wisdom Nodes are the essence of the DMI Mechanism. Can you delve a little more about this? What exactly are Wisdom Seekers? What role do they play? How exactly does this interaction occur between the Wisdom Seekers and the Wisdom Nodes in order to form the basis of the DMI mechanism?

Telegram Username
@ItsMelissa3
Emilia
Guest
Emilia

Is there a quality control that evaluates the quality and accuracy of the answers provided by the Wisdom Nodes? What if an answer is not exact and does not meet the established conditions? Who is in charge of eliminating or modifying an answer that is not correct? Would that in any way affect the Wisdom Node that provided that answer?

Telegram Username
@Emidm28
Nhairy
Guest
Nhairy

One of the aspects that every investor pays the most attention to is security, what are the security characteristics that Lithium has, how they handle the information and real data of each investor and the internal programming of the project to avoid unwanted manipulations and finally What are the risks and weaknesses to which Lithium and its users and investors are exposed in the crypto market?

Telegram Username
@nhairym
Nhairy
Guest
Nhairy

Do you consider that Lithium Finance is that key piece to create a closer link between the real world and DeFi. What do you think is the reason why DeFi could not resolve this point directly, could the NFTs, shares and other illiquid assets now be received as collateral for the granting of loans, who or what protocol is in charge of approving and validating the suggested answers?

Telegram Username
@nhairym
Nhairy
Guest
Nhairy

Lithium is innovating and they opened a gap between tangible and non-tangible assets by setting prices at what had not been possible until now, that is, illiquid assets can already have a certain real value, consider that NFTs can already be received as guarantees for the granting of loans?

Telegram Username
@nhairym
orlemys
Guest
orlemys

Lithium Finance uses collective intelligence to price the unpriced. This is an interesting idea, so I’d like to know the limits of it. Would collective intelligence serve to price items such as the booming NFTs? There are many protocols around that use AI and other technologies to search the web and find similar art, just so that they can help artists put a price on their work. Is this possible with Lithium Finance?

Telegram Username
@orlemys
orlemys
Guest
orlemys

From what I’ve seen and read. Lithium Finance has created a great variety of new terms and features that are unique to the project, such as your ‘Crowd of Wisdom Nodes’ or your ‘Wisdom seekers’ and also your ‘DMI-Mechanism algorithms’ I would like you to elaborate further on these terms, and I would like to ask specifically, about what they would mean to investors. How is it beneficial for those who would not be seeking to actually use your services, but that see potential in them?

Telegram Username
@orlemys
SEN
Guest
SEN

Commonly the digital assets are liquid, the only illiquid asset that I know are associated with the real world, like a house or a car, so can you explain us the impact that Lithium Finance has into the real world finance ?

Telegram Username
@Tony253210
Manugotsuka
Guest
Manugotsuka

⚛ Lithium Finance offer a way where illiquid assets can get value easily, but this is enough to increase the commercial speed of this kind of assets? Lithium Finance can be used to help the most popular illiquid asset ( real state)?

Telegram Username
@Manugotsuka
Jade
Guest
Jade

Lithium uses “Proof of Wisdom Staking” according to your lite paper; this is the first time I’ve heard of this, so could you tell us more about this new sort of consensus?

Telegram Username
@JoanaZ
Poker
Guest
Poker

Can you tell us what standards a user must meet in order to be deemed a Wisdom node? How does your reputation system work?

Telegram Username
@Porkerlight
Kath
Guest
Kath

You mentioned that in certain cases you can penalize users for bad behavior. What are the possible causes for which a user can be penalized? In the case of users who are penalized, what would happen to their tokens? Could you dock the tokens of the users who have bad behavior?

Telegram Username
@KathDM
Kath
Guest
Kath

You recently announced the launch of an IEO on KuCoin, this news came at the time that Lithium is going through an IDO on Polkastarter which the team announced earlier. What are the benefits of the dual IDO + IEO? Why did you decide to do both IDO + IEO simultaneously?

Telegram Username
@KathDM
alice
Guest
alice

Lithium Finance is developing a network, because currently data oracles do not provide regularly updated prices for private companies. So can we believe that the price provided by Lithium is fair and not manipulated? and is it also an incentive mechanism for Wisdom Nodes to participate in the system?

Telegram Username
@alice_wonderland12
Ross
Guest
Ross

The challenge of Lithium Finance is to solve and combine pricing oracles along with financial incentives to ensure that honest information is rewarded and malicious information is punished, so accurate and frequent pricing information can be achieved in this way all hard-to-value assets?

Telegram Username
@Rosane1a88
Quang
Guest
Quang

Reading on your website, I see Almost all of the on-chain protocols listed use publicly available pricing information. Lithium is generating prices that aren’t available on-chain and are barely available anywhere – price has no price. So how does Lithium attract multiple contributors and ensure that Lithium encourages the best answers from all sources. As a crypto enthusiast, I really want to hold a large amount of tokens but I need to be sure of its profitability. What is the benefit of holding your token and also where to buy it? What is the token use case and how does… Read more »

Telegram Username
@bigboicity12
Quang
Guest
Quang

1.1: As I understand Lithium Finance is at a single point of convergence between blockchains, thus allowing to create a bridge between traditional finance and DeFi. But as shown in your website, does this bridge really only work between Linear and Convergence?

1.2: How do you keep your platform safe for Investors and is your platform protected from hackers? And how do you manage if there is an attack on your platform, including the personal data of your platform users? Is your platform ready for this?

Telegram Username
@bigboicity12
Quang
Guest
Quang

In liquid markets,we may not be able to sell our assets at a “fair” price. This means that there are no willing buyers for the trade,leaving us only to choose:reduce the offer price or wait for liquidity to increase. What strategy will you use to combat the slippage of the order? It is a fact that pricing an illiquid asset is an expensive and slow valuation process and your objective is to provide value to illiquid assets easily. How are you planing to increase the commercial speed of these of assets?What about the most popular illiquid asset(real state)

Telegram Username
@bigboicity12
Victor
Guest
Victor

The Lithium Finance IDO event comes up tomorrow August 5th 2021 on Polkastarter, and as stated only successful whitelisted addresses are eligible to partake. This event comes after you successfully launched a pre-IDO earlier in June. Can you briefly highlight some of the gains from your pre-IDO launch and how that will be translated to your IDO event, and why did you opt for Polkastarter? Also noteworthy is the fact that there would be more whitelisted addresses than IDO sales spots. Why is this so, and asides from the mandatory KYC and AML verifications for whitelisted addresses, how would Lithium… Read more »

Telegram Username
@victorogb
Victor
Guest
Victor

On the Lithium Finance tokenomics and token allocation formula, there would be a total supply of 10 billion $LITH tokens of which 10% is reserved for liquidity, 10% for community, 0.8 for public sales and 30% allocated to staking rewards. With an allocation of a meagre 0.8% of $LITH for public sales as compared to a 30% allocation for staking rewards, wouldn’t this be inadequate for investors and traders and why would your largest token allocation go to staking rewards? Additionally only 10% is reserved for Liquidity, how will Lithium Finance hope to grow it’s liquidity reserves and what are… Read more »

Telegram Username
@victorogb
kasg
Guest
kasg

I could have mentioned the OPI event a lot, but could you really define what “OPI” is? And really why does Lithium have to make various changes or activities before this event (OPI)?

Telegram Username
@KASG95
kasg
Guest
kasg

It struck me that your project is based on a mutual information mechanism based on DMI determinants, but if this is really a limitation that affects all illiquid assets, then why does only Lithium implement this mechanism? Is it really not well known yet?

Telegram Username
@KASG95
Keymer Salom
Guest
Keymer Salom

Will Lithium Finance be limited to crypto assets only? Or do you really plan to expand to all kinds of trades, both assets, derivatives, stock, NFT and more?

Telegram Username
@KeymerS
Keymer Salom
Guest
Keymer Salom

You mention that Lithium seeks to become a tool that allows anyone to put a price on anything, but will it really be so simple that users can set the price they want? Will it be something similar to what is seen in the NFT market?

Telegram Username
@KeymerS
gutierrez
Guest
gutierrez

Will Lithium Finance only provide the benefits of its protocol to illiquid assets? Or could their features and products also benefit highly liquid assets?

Telegram Username
@Gutike95
gutierrez
Guest
gutierrez

One of the great limitations of blockchain assets is that having little liquidity, their value will decrease considerably, but if lithium allows to regulate the price of illiquid assets, how will they manage to maintain a fixed price when it has very little demand and liquidity?

Telegram Username
@Gutike95
yaisy
Guest
yaisy

Regarding your native LITH tokens, could you explain a little about each of its utilities, such as “the rewards for searching and providing answers”? What kind of “answers” do you really mean?

Telegram Username
@AugusS7

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