AMA Satoshi Club x Sienna, May 10th

We are pleased to announce our next AMA on May 10th 2021 at 03:00 PM UTC Time: Satoshi Club x Sienna

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Sienna 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. Sienna Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Sienna

For more details:
Sienna Website – sienna.network
Sienna Telegram – @GoSiennaNetwork
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

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⬇️⬇️⬇️ Leave your comments bellow ⬇️⬇️⬇️

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gordan jozicKorrylFrozenIndomieAyuba Peter Akpa Recent comment authors
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Andrey
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Andrey

Sienna advertises its AMM, Sienna Swap, as a privacy-first, cross-chain decentralized exchange where users can swap private tokens in complete privacy. Please tell us what chains do you plan to support on launch and what chains support do you plan to add later after the launch? Supporting multiple chains, does this mean you will use a layer 2 solution?

Telegram Username
@andrey_seleznov
Andrey
Guest
Andrey

Sienna promises fast transactions that will cost only a few cents. Users will definitely be excited not having to pay exorbitant fees. Can you tell us more about your infrastructure? How do you achieve high speeds and such low fees being cross chain platform? Fees remain low even when trading with ETH chain?

Telegram Username
@andrey_seleznov
Andrey
Guest
Andrey

As I understood Sienna will only support swaps of the secret wrapped assets. This implies two extra transactions for each swap, first user has to wrap his asset, then unwrap new asset after the swap – is it correct? Can Sienna automate this wrapping/unwrapping and save user clicks and potentially fees on extra transactions?

Telegram Username
@andrey_seleznov
Ariana
Guest
Ariana

Sienna Network promises to their users completely financial freedom by exchanging data in a completely decentralized manner, but does Sienna preserve the simplicity and easy interface parameters so it can be used even by new crypto investors? What are the main goals of Sienna regarding user experience?

Telegram Username
@Arisabela
Ariana
Guest
Ariana

Your token $SIENNA has a 36% that has been allocated to reward mechanisms with variuous incentivization programs across the network, can you mention this programs and how do you plan to keep your users incentivized as long as your ecosystem growths?

Telegram Username
@Arisabela
CryptoFollower
Guest
CryptoFollower

At the blockchain technology we are not very familiar with the private chains. How is this privacy first works? If I swap a token and it goes into my wallet will I be the only one who can see it? What is happening with the failed transactions or successful transactions if no one is able to see it? Also how is the chain data verifies and goes into the blockchain if the information is private?

Telegram Username
@cryptofollower
CryptoFollower
Guest
CryptoFollower

Sienna is built on Secret Network, which is the first blockchain with privacy-preserving smart contracts. How to you prevent the system to be used by illegal activities and money laundering? Do you have any systems and built in features to detect these activities and block them?

Telegram Username
@cryptofollower
Jonah Apagu
Guest
Jonah Apagu

In sienna users can use the Bridge to Convert tokens from multiple ecosystems into secret tokens, at the moment only ethereum is supported with plans to support polkadot, Binance, monero and cosmos… so can you explain what happens at the bridge when a user wants to convert tokens of other networks to secret tokens, what happens to the tokens to be converted and how are the new secret tokens minted, and how does sienna assure users that the newly minted secret tokens are indeed privatized tokens?

Telegram Username
@Jonahapagu
Jonah Apagu
Guest
Jonah Apagu

The plans on your roadmap for Q3 includes sienna lend and private decentralized identities… can you explain how sienna lend will work what assets can users lend or borrow on the upcoming sienna lend and how will your “private decentralized identities” work, what will be the importance of this private decentralized identities, what can they be used for…

Telegram Username
@Jonahapagu
Jonah Apagu
Guest
Jonah Apagu

Somewhere along the line Sienna plans to bring in private tokenized assets (bonds ,stocks), so how will this be implemented, what kind of asset classes will users be able to tokenize and what can this tokenized assets be used for in sienna….

Telegram Username
@Jonahapagu
CryptoFollower
Guest
CryptoFollower

Sienna is now listed on gate.io and uniswap. Governments don’t like the idea of the private tokens. So they make exchanges to delist them. We have seen monero to be delisted from some centralized exchanges. If that’s the case, is it possible to give special privileges to centralized exchanges to see the blockchain data and prevent from delisting? What do you think about this?

Telegram Username
@cryptofollower
Victor
Guest
Victor

In the Sienna network, the liquidity pools are the foundation for Sienna Swap. User’s provide liquidity by depositing to a trading pair of tokens, thereby helping the exchange execute faster and better. How does this action improve the time and efficiency of execution of the exchange? As also emphasised, providing liquidity also helps the investor earn some of the trading fees and can further enhance their earning via rewards. Can you carefully highlight how these rewards are calculated and subsequently distributed, and are users allowed to deposit on both sides of a trading pair?

Telegram Username
@victorogb
Jean Pierre Hernandez
Guest
Jean Pierre Hernandez

How can I get SIENNA governance tokens and what can I do with these, i.e. can I do a composite performance or are they already interchangeable?

Telegram Username
@Pirry05Universe
Jean Pierre Hernandez
Guest
Jean Pierre Hernandez

Which platforms, projects and financial institutions are supporting SIENNA NETWORK and for what purpose?

Telegram Username
@Pirry05Universe
Victor
Guest
Victor

wSIENNA is an ERC-20 version of the native SIENNA token running on Secret Network (SNIP-20). In order to mint wSIENNA, users have to lock an equivalent amount of SIENNA in the bridge and this action can be reversed by burning the wSIENNA to get back SIENNA. Therefore, what is the major difference between the wrapped SIENNA and SIENNA, how are they used differently and though SIENNA currently runs on secrets network Ethereum bridge, but are there plans to incorporate other blockchain bridges on the network for a better user variety and ease of transactions?

Telegram Username
@victorogb
arboledae
Guest
arboledae

What can you tell us about the safety of the investor’s assets?

Telegram Username
arboledae
Humberto Antoni
Guest
Humberto Antoni

I am interested about Sienna offering a private trading service, but is this really possible? Making transactions in the market without anyone being able to track them? How is the privacy in these types of functions?

Telegram Username
@Antoni_azx
Humberto Antoni
Guest
Humberto Antoni

Sienna will include many “private” features like trading, lending, decentralized identities and more. But are they already available? What features can users test today and which ones will be released soon?

Telegram Username
@Antoni_azx
Rыs'ka
Guest
Rыs'ka

wSIENNA is a wrapped SIENNA. How do I wrap SIENNA to get wSIENNA? What can I use wSIENNA for? And what should I do if I want to return my SIENNAs?

Telegram Username
@NataliyaKil
Pei Er
Guest
Pei Er

Sienna’s vision is to make privacy-first and scalable DeFi interoperable with the biggest blockchain ecosystems, such as Ethereum, Polkadot, Binance Smart Chain, Cosmos and more. So to figure out this vision,how will your platform integrate and connect to some of those biggest mention blockchain ecosystem? Thank you

Telegram Username
@yellowchamp
Ayuba Peter Akpa
Guest
Ayuba Peter Akpa

Sienna is built on top of Secret , which is built on Cosmos. This means that once Cosmos blockchains upgrade to IBC, there will be native interoperability between these blockchains. When should we expect Cosmos blockchain upgrade to IBC? What are the advantages the upgrade to IBC will bring to Sienna and it’s users community. Thanks.

Telegram Username
@Ajpaa
Ayuba Peter Akpa
Guest
Ayuba Peter Akpa

Sienna’s Automated Market Maker (AMM) is a balance principle market maker. Instead of running an order book with bids and asks, which have to match and delay trades and makes them expensive to execute, Sienna Swap requires liquidity providers to deposit both tokens from a given pair. The dual deposit system is the foundation for a balanced approach that makes it possible to trade without delay as the buyer is always present and there is no need for a matching bid as we know it from an order book principle. How does a sienna swap determine the trading pair? what… Read more »

Telegram Username
@Ajpaa
Pei Er
Guest
Pei Er

wSIENNA (wrapped SIENNA) is an ERC-20 version of the native SIENNA token running on Secret Network (SNIP-20). SIENNA is a privacy token, wSIENNA is not. To vote at the Sienna Network protocol, you will need to swap your wSIENNA into SIENNA. So can you tell us if SIENNA token will remain private forever? What is the advantage of being a private token? By time goes by,can we expect SIENNA token to be available in other Blockchain aside from Secret Network? Can you explain more about the different characteristic of SIENNA token from wSIENNA especially to its uses in Sienna Network… Read more »

Telegram Username
@yellowchamp
Rыs'ka
Guest
Rыs'ka

All winners of the Sienna SHO that was conducted previously on DAO Maker will be able to claim their token via the DAO Maker Platform distribution smart contract. But do winners have to pay some kind of commission to receive their wSIENNA token? How can they claim their wSIENNA, will they be able to receive the entire amount of token at once and in what time frame? Do you have any instructions to do this?

Telegram Username
@NataliyaKil
Rыs'ka
Guest
Rыs'ka

Latest News: Sienna Network raises $ 11.2M for its platform from institutional investors and its public supporters!
So can you tell us about this? Who are your investors?
As far as I know, you also raised $ 1.2 million on the DaoMaker and Polkastarter exchanges?

Telegram Username
@NataliyaKil
Indomie
Guest
Indomie

On your twitter, you said Sienna already doing partnership with Secret Network which one very important for Sienna project. Can you give the reason why Secret Network really important for Sienna project? Also do you have plan to add other partnership?

Telegram Username
@Indomiekuy
Frozen
Guest
Frozen

I read your data about Liquidity Pool, all 3.9 million Sienna token will be finish to be minted in 4 years. So what will happen after your LPs depleted and no Sienna Token to be mint again? What are the plan so your project can keep growing?

Telegram Username
@Xusuo
Korryl
Guest
Korryl

Sienna is a privacy decentralized finance protocol that maybe only work for cryptocurrency for now. But do you have plan to doing bridge for traditional finance world also with trading world ? For example like bonds, forex or maybe Stocks?

Telegram Username
@Korryl
gordan jozic
Guest
gordan jozic

– what made you choose, secret network ?
– going forward, what will be the number one priority ?
– what institutions are you targeting for partnerships ?

Telegram Username
gjozic90

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