Educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guest from Orakuru. The AMA took place on April 6th, 2021 and our guest was @JonahGlasgow.
The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
Gold Rocket | Satoshi Club: Hello, dear community!
D. Папа Роуч: hello everyone! we are beginning our AMA session with Orakuru!
Gold Rocket | Satoshi Club: We are very glad to conducting AMA with Orakuru! 😃
Serg | Satoshi Club: @oxspa @alifromcairo, welcome 🙂
0xSPA | オラクル: Hey everyone, thank you for inviting us 🔮
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club @oxspa @alifromcairo😀
D. Папа Роуч: @oxspa @alifromcairo hello! good to have you here! 😇
Gold Rocket | Satoshi Club: Let’s start with a small intro!
D. Папа Роуч: nice idea 👀
Gold Rocket | Satoshi Club: Introduce youreself. How did you get to be involved in crypto & Orakuru? @oxspa @alifromcairo
0xSPA | オラクル: Okay, hey everyone:
Due to being anon, I can’t give away too much. We’ve been in crypto for over 5 years, getting busy during the first DAO (And collapse) before the the ETC fork.
The normal story, we saw the power, went through the ICO craze, came out the other end with far more understanding of what the market needs.
Orakuru was an ‘obvious’ venture for us. We felt the pain point, there’s no ‘good’ native BSC oracle, and that’s how we started on this adventure 😎
Gold Rocket | Satoshi Club: 5 years is a lot for crypto👍 welcome to this bull run today😉 What is the essence of your project?
0xSPA | オラクル: Today is much better tahn it was 3-4 years ago, much much better
Gold Rocket | Satoshi Club: Indeed😁
0xSPA | オラクル: Well, Orakuru (orakuru.io) is an on-chain data source for dApps, specific to BSC (For now).
It’s an Oracle. A special Oracle.
We’re able to bridge any type of off-chain data, whenever a requester decides, and bring it on chain.
Think presidential results, the weather in Paris, or an UFC fight. Completely random, all can be pulled on-chain.
We’re also a DAO, community owned and operated protocol, unlike the larger incumbants. That means that we’re run through proposals in our governance stack. No singular big VCs, no gatekeepers, no Silicon Valley.
Gold Rocket | Satoshi Club: Sounds great😉
How long does it take to develop a project? What plans do you have for the future? And what can we expect from Orakuru?
0xSPA | オラクル: I assume you’re asking, how long have we been developing it thus far? In that case, its the best part of a year
Gold Rocket | Satoshi Club: Sure😊
0xSPA | オラクル: For the future:
Product scaling (EVFs, Multi-Oracle aggregator contracts)
Complete DAO, 0 centralisation, wholly passed onto the contributors
And the big one -> Chain agnosticism. Running not only on BSC. Which we think is achievable this year
0xSPA | オラクル: What can you expect? Well…
We are ambitious, like any team. But we have far more backing it.
We want to be a top 5 Oracle by 2022, with at least 50 partners using our data, then anything is the limit
Gold Rocket | Satoshi Club: Also we would like to know about your team. Who is on the project team? We already know that you are anonymous, nevertheless, please tell us the available information … I wish you with all my heart to achieve these ambitious goals! 👍🚀
0xSPA | オラクル: Sure,
We’re ex-Badger, Matic, Redbull, Airbnb and more. Most of our team are specialists in one specific thing, and we’re distributed across the world, frmo Singapore to the US. Most of the team have worked on high TVL projects, enterprise scale protocols, and demanding levels of work quality.
Some of the team helped to run well-known ICOs and projects during the precious bull run, coming from Consensys, Waves, NEM and other largee L1s and venture studios.
Star studded team, tbh
Gold Rocket | Satoshi Club: does it mean that you mostly work remotely? where is your office located? in the era of covid, many abandoned office work …
0xSPA | オラクル: Lol. Yeah. No office 😂
I don’t believe any ‘real’ teams are local right now. There is too much of a shortage of supply on the market, there isn’t enough talent. One must go far and wide to pick up the right contributors, right now
0xSPA | オラクル: Btw, the team doesn’t include the 45 contributors already on board, helping with nodes, building front ends and writing contracts. That’s the real army, right there
Gold Rocket | Satoshi Club: Thanks for the great intro! Do you want to add something or can we proceed to the questions from community?
0xSPA | オラクル: I believe the community questions are the most valuable, of course, let’s goooooooo
Gold Rocket | Satoshi Club: @Cool_as_Ice shoot please😁🚀
Q1 from Telegram User @Andrey_Seleznov
Many thanks for giving the opportunity to participate in whitelist via the gleam.io contest to people who do not hold launchpad tokens! True community spirit! Currently Orakuru has about 550,000 entries in the gleam.io form. How many do you estimate are unique real people and will the chances of getting the allocation be higher than winning a national lottery? 😉
0xSPA | オラクル: Well, each person is utilising around 20 entries, therefore you can probably divide that number by 20 to find the real number of entries. Of those, whom are bots, it’s really hard to say.
I would put it at a 1/15 chance of getting selected, dependent on how many entries you have. Still, far lower than the national lottery 👊
Gold Rocket | Satoshi Club: Thanks for clear answer. Do you want to add something or ready for the next question?😊
0xSPA | オラクル: I believe I answered theeir question, nothing more to add, just, good luck!!
Q2 from Telegram User @garrinepotter
Tell us how the oracle works and how wide a range of information it can cover? What have you created – is it just a transfer of numbers between exchanges and defi projects, or something more that can take root in the real world?
0xSPA | オラクル: Good question, I touched on this in the intro to Orakuru as a project.
We can take any API request, Ad-hoc, and pull it on-chain. Whetherr its a presidential result, the result of the World cup, a boxing match, you name it.
The core of Orakuru will be price feeds for now, because that’s what the market demands. They need accurate, timely price feeds, so a lot of effort is going into that, there.
How does it work?
It works similiar to a DpoS system, you can read the specifics in our whitepaper. We have multiple nodes, each node is scrapping real world data based on dApps demands. Those nodes stake $ORK. If they provide good data in good time, they get an APY reward, otherwise, they’re slashed.
This data goes into our averager contract, which pulls everything in, then shoots it of to the dApps.
That’s a super short explanation, but I think it gives the general gist and answers your questions
D. Папа Роуч: do i have to stake some specific amount of $ORK to run a node?
0xSPA | オラクル: Yes, we haven’t released the exact amount yet. However, all 30 node validators that have joined our discord were provided with community whitelist spots, in order to make sure they have the required amount, such that we can decentralise soon after launch
D. Папа Роуч: got it! thank you for answer! ready for the next question?
0xSPA | オラクル: Gotovo/Ready/Lets goooo🔥
Q3 from Telegram User @JoanaZ
Orakuru was created using the Binance Smart Chain, but I just realized that you have and association with Huobi Global, so are you planning to Integrate HECO CHAIN? what is objective of your association with Huobi Global?
0xSPA | オラクル: Thank you @JoanaZ for your question. We don’t have any official association with Huobi, whatsoever, we also do not plan to integrate HECO Chain at all. Ehereum, Solana and Dot though 👀
Gold Rocket | Satoshi Club: 😁 oops
Gold Rocket | Satoshi Club: What other exchanges do you have in your plans?
Gold Rocket | Satoshi Club: if you plan of course😉
0xSPA | オラクル: I don’t believe we should speak about that pre-launch. It seems somewhat lame to only focus on ‘what exchange’ when we’re trying to build the future of 3.0. The exchanges will come. We’ll start with Pancake swap, which will be auto-liquidity provided through Kickpad
D. Папа Роуч: thank you for the answer! @GoldRocket27 do you have any additional questions? 👀
Gold Rocket | Satoshi Club: Tell us more about the activities for all members of Orakuru and Kiсkpad by the way
0xSPA | オラクル: Thank you for your question. Please may you elaborate? You want to know what every single member of Orakuru, and every single member of Kickpad does as an activity?
Gold Rocket | Satoshi Club: Three different whitelisting activities. For members of the Orakuru and Kickpad.
0xSPA | オラクル: Right, for the whitelist:
1) IF you hold OR stake $KPAD tokens, at least 3000 tokens, you can apply here: https://docs.google.com/forms/d/e/1FAIpQLScYK9amM5b8cJ_FTR7Mx5olutbj1qjIMHSFmHpJQZMZ2jWABw/viewform . This is a complete lottery and winners will be announced tomorrow.
2) For all community contributors, you can submit your chance through out community competition, which can be found here: https://twitter.com/Orakuru_ork/status/1378757735370592260?s=20
3) If you’re a contract writer, developer, designer, or you want to run a node, come join our discord: https://discord.gg/RKDB6pXV and there may be some whitelist spots available for you
Gold Rocket | Satoshi Club: thanks for sharing.
0xSPA | オラクル: 🙏.
Gold Rocket | Satoshi Club: Btw please share your tokenomics with us 😊
0xSPA | オラクル: https://orakuru.io/whitepaper.pdf
0xSPA | オラクル:
Gold Rocket | Satoshi Club: Thank you very much for your answers! Ready for the next question?
0xSPA | オラクル: Yes mam, please shoot
Q4 from Telegram user @Arisabela
Your Market Data Feeds aims to have a real world usage in DEXs, prediction markets, insurance, lending and more, can you tell us the advantages of incoporating your features in external dApps compared to projects similar to yours?
0xSPA | オラクル: This is a great one, thanks @Arisabela .
There’s lot of ways to approach this, I’ll basically just list them off:
1) Data availability. The closest competitor to us, the native BSC Oracle ‘Berry data’, you can go to their site to see the amount of data feeds they provide. We will launch with roughly 5X that amount. Data availability and variety is the first key, and that’s why we’re able to scoop up so many partners before we’ve even launched.
2) Block times. We’re on BSC, that means the block times are far smaller, as low as 3 seconds. OUr friends on other L1s simply can’t competee with that for the time being. Ultimately, our data will be far more timely and accurate, as we’re able to send far more ofter (and for far less cost).
3) Data variety. AS mentioned in a previous question, we allow for ad-hoc, one-off requests. The weather in Paris, the results of a tennis tournament, and so on. The majority of the market will need this as more and more companies start to onboard into the 3.0
4) Product scaling, with EVFs and others (Random number generators etc…), which allow us to scale into new sectors such as games and gaming in general.
5) Averger contracts. We’re building ‘An oracle of oracles’. We’re keeping this hush hush for now, but I can explain the problem. You use Oracle X. Oracle X uses Kraken for it’s data source. One day, we see a 40% dropo in BTC on Kraken and a huge liquidation event on the margin longs, but the rest of excvhanges don’t see this. So what went wrong? Well, they only took one source, and they only took one Oracle.
—–
This is, in short, why we believe we’ll dominate BSC demand, and why we will be well poised to go chain agnostic soon after and take on the ‘big boys’.
🔮
D. Папа Роуч: awesome! thank you for the great answer! 👍
Gold Rocket | Satoshi Club: Thanks for your answer! In your roadmap, I saw that in the third quarter you are planning deployment of Orakuru’s Beta network. can we participate?
0xSPA | オラクル: Yes, of course, it’s open to anyone that wants to add value. We turn NO ONE away (Unless you simply can’t do it). If you can provide value, or run a node, we’d love to welcome you in.
Gold Rocket | Satoshi Club: Btw share your roadmap with us and tell us about the most significant moments for you please.😊
0xSPA | オラクル:
0xSPA | オラクル: https://orakuru.io/whitepaper.pdf
Well, every point on here is significant and important for our success. Utlimately it can be broken into 3 groups a) product b) governance c) ecosystem.
I think the highlights would be shifting to full DAO governance, decentralised onboarding of nodes (Very hard to do) and the move towards chain-agnosticism.
If we’re hitting those milestones, we’re doing something right
Gold Rocket | Satoshi Club: Thank you very much for the information! Ready for the next question?😊
0xSPA | オラクル: Davai, lets go ❤️
Q5 from Telegram user @meml97
I read that you said that upon launch, Orakuru will launch it’s metacommunity, which will govern and operate the Orakuru, and this will create a much faster pace of innovation and feature output. Can you tell us more about this metacommunity, what it is and what makes it different from “normal” communities from others projects? How will they be able to govern and operate Orakuru? And how can someone join this metacommunity? Also, how will they create faster pace of innovation and feature output?
0xSPA | オラクル: Woooooof my favourite question. Okay give me a minute pleasee
D. Папа Роуч: sure 😊
0xSPA | オラクル: What makes it different from normal projects?
Well, normal projects have a telegram that is completey overrun, with random mods that don’t really know about the project, and potentially, maybe, a Discord.
What we do is stack it much more similiar to Yearn, or Sushiswap.
Our telegram simply acts as a Q&A for newcomers, its not where the real work is done, thats all done in Discord.
Discord is owned and run by the community, with proposal ideas going to Discourse (A forum with voting) with the ultimate changes going to our snapshot.page.
This allows for the ‘metacommunity’, a community in and of itself, that hires and fires for itself, that decides on its own vision.
We are simply launching the project and guiding it in the right direction at the start. We are not as wise as the crowd, we do not have the power of the collective wisdom, only the collective has that. That’s what we optimise for.
How will it be faster?
Theres no HR, there’s no gatekeepers, there’s no management. If you can write us 10 Data feed contracts in 1 day, and you ask the community for $20k, and the community all votes yes, then you will get that $20k in 1 day if you deliver on the value. There aree no contracts, no bureacarcy, no middle-men. People are allowed to flourish, they’re allowed to try.
Moreover and most importantly, it’ll be the community decided which features are most needed and that we should go after. Our community isn’t just indiivduals, but large dApps, validators and ecosystem partners who udnerstand the pain points.
We just create a flexible ‘kickoff’ for all involved, that will manifest itself into a DAO.
Gold Rocket | Satoshi Club: Thank you very much for such a detailed answer! Ready to move on to the next question?
0xSPA | オラクル: Yes, let’s do it 🔥
D. Папа Роуч: sounds cool. very interesting approach you have 💪
Q6 from Telegram user @Winner_don
You said your oracle is starting with 7 nodes, and that Orakuru’s architecture for processing job requests is based on a Request-Event-Response. In the event of extremely high requests (which would surely happen), can the 7 nodes provide the volume of data needed on time and accurately? Can they respond on time? Do you have any plans on increasing the number of nodes? Both external and internal nodes? Any partnership plan and with who?
D. Папа Роуч: Dear community, we will open the chat soon. Please prepare your questions. Orakuru team will select 10 of them. Please remember the rules ❗️❗️❗️
-Only genuine questions will be rewarded. Copied questions will be disqualified
Read the rules here
(https://t.me/Satoshi_club/272142)-For Part 2 of the AMA, every user will be allowed to post maximum 3 questions. One message should contain maximum 1 question. If you post more than 3 questions, you will not receive the reward if selected. Thank you for understanding and good luck!😉
Also, don’t forget to join Orakuru – @iorakuru
https://t.me/Satoshi_club/272142
0xSPA | オラクル: First of all, great question. If you’re in this Telegram, please DM me, I’d love to talk further and collaborate.
In extreme situations, no. We will not be confident with only 7 nodes. The goal is 21 nodes for now, to reach sufficient decentralisation that can survive extreme loads. However, based on current dApps needs and BSC’s throughput, 7 will be more than enough at the start. Every single one of our 21 nodes will be ‘external’, controlled by some random person or entity on the internet )
Partnerships: We released the first 5 of like 20 or so backers yesterday. Clients, ecosystem partners, data providers we will continue to release post-launch. We’re finding that our IDO messaging is getting lost, so we’re trying to keep it clear for now. Also we want people to focus on the tech, like you are, and not just ‘wen binance’ / ‘wen partner’ 😂
Saying that, as you can see by success in marketing, we’re having thqt same success with partnerships
D. Папа Роуч: 😄👍 thank you for answer! the first part of our AMA going to its end! we will open chat for 2 minutes, after chat will be closed – you can start select questions from Satoshi Сlub members! 😉
Part 2 — live questions from the Telegram community
Q1 from Telegram User @K2ice
Can I still be a node validator on your platform
0xSPA | オラクル: The answer is yes! Come say hello in our Discord 🙂 https://discord.gg/RKDB6pXV
Q2 from Telegram User @boradam
As I see Orakuru’s Alpha network is live right now. What kind of data feeds does Alpha version consist right now
0xSPA | オラクル: Yup, as you can see live on our site, we have the price feeds, which shows proof of concept and is what we we scale on. Price feeds are integral to the dApps ecosystem, that’ll be our main driver over the coming months
Q3 from Telegram User @Pirry05Universe
What role do external nodes play for the Orakuru ecosystem? Are they essential for the continuous and smooth running of your project?
0xSPA | オラクル: They’re INTEGRAL, ESSENTIAL and one of the most important parts of the projects. Without external nodes, we will never reach decentralisation. This is somerhing we’ve been heavily focussed on
Q4 from Telegram User @highpee
You have allocated 40 whitelist spots to COMMUNITY CONTRIBUTORS. How will you select these contributors? Will it be based on interaction engagement on Telegram or its meant for Discord community?
0xSPA | オラクル: This is almost exclusively through the discord. These are only going to those that are contributing their time to development, amrketing, deisgn. Or those that weant to become node validators, and need help getting the right amount of ORK tokens to stake
Q5 from Telegram User @Xusuo
I think orakuru is great project, can you share with us how do we possible to get $ORK token? As I see its still not listing in exchanger?
0xSPA | オラクル:
We will launch our IDO on April the 8th, aat 14:00 UTC, with Pancake Swap liquidity getting added roughyl 2 hours after.
DO NOT BUY TOKENS BEFORE THEN, WE HAVE NOT LAUNCHED, ONLY USE OFFICIAL LINKS IN OUR TG
Q6 from Telegram User @mobilejii
✅✅have any audit been done of smart contracts of $ORK?Where will be the audit report available? How strong is your security measures adopted
0xSPA | オラクル: Yes, we have 3 audits by 3 individual auditing firms, for our token contracts and smart contracts, they’ll start dropping tomorrow
Q7 from Telegram User @KhaleesiTheCryptoLady
Please share us your social networking sites, where can we see your announcements and future events for Orakuru community?
0xSPA | オラクル:
https://t.me/Orakuru
https://t.me/Orakuru_announcements
https://twitter.com/Orakuru_ork
Q8 from Telegram User @anhuho33
Do you have any plans to attract non-crypto investors to $Orakuru and how? What are the actions to increase awareness around $Orakuru in non-crypto space. ?
0xSPA | オラクル: Nope, not at all. We don’t need non-crypto adoption, that makes no sense to us at all. We’re not B2C, we’re not selling a product. We need 15+ clients in the next 6 months to be considered successful, not 10000s of normal people. Our audience is dApps and infastructure, not inidividual humans
Q9 from Telegram User @yoyokey
DeFi is one of the hottest topics in the blockchain field. Do you think DeFi will destroy the existing financial system?
0xSPA | オラクル: Destroy, annihlate, demolish, revolutionise, take-over. You choose your facvourite adjective )
Q10 from Telegram User @kendal9153
I think you guys are doing very well! I just have a question related to the financial situation: Considering the bear market that has now lasted Orakuru some time and might continue to do so Orakuru even longer how is the Orakuru doing in terms of funding to be able to keep up the development of the product and introduce new partnerships Orakuru years to come?
0xSPA | オラクル:
Well, first of all, we’re in a bull market right now, not a bear market, lol.
Regarding funding, we’re good, we have great backers. Our Privte B round sold out on Kpad in 26 seconds.
Part 3 – Quiz Results
In the final part we tested your knowledge in terms of Sparkleswap. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
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