Bosagora x Satoshi Club AMA Recap from 1st of December

Bosagora x Satoshi Club AMA Recap from 1st of December

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Bosagora and our guest was @bosagora_viki ,marketing manager of BOSAGORA project. The AMA took place on 1 December.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram community

D. | Satoshi Club: today our guest – @bosagora_viki !

Gold Rocket | Satoshi Club: Hello again, dear Satoshi Club community! We are pleased to announce AMA with Bosagora😍

D. | Satoshi Club: @bosagora_viki how are you doing today?

Gold Rocket | Satoshi Club: @bosagora_viki we are really excited about upcoming AMA with you ❤️

Viki BOSAGORA: Hello😄 Nice to e-meeting you🤗

D. | Satoshi Club: same! we are welcoming you in Satoshi club! 😊

Viki BOSAGORA: Thanks for your invitation

Gold Rocket | Satoshi Club: We love Bosagora and support you for several years🤩

Viki BOSAGORA: Yes, we love to work with the giant community in the crypto world – Satoshi Club!

Gold Rocket | Satoshi Club: Let’s start! Introduce yourself please. How did you get to be involved in crypto & Bosagora

Tell us please about your position in Bosagora🏛

Viki BOSAGORA: Hi everyone, I’m Vicky, marketing manager of BOSAGORA project, and mainly focus on aboard business and marketing. I am pleased to share about $BOA and our Metaverse– ‘MetaCity’ today with all of you. 😉

D. | Satoshi Club: nice! we will talk about MetaCity in our first question, a bit later today 😊😉

Gold Rocket | Satoshi Club: Also we would like to know more about your team. Who is on the project team core?

Viki BOSAGORA: Yes, we are so excited to share more about our metaverse – MetaCity

D. | Satoshi Club: so what is Bosagora? @bosagora_viki can you explain to us briefly, for those who still don’t know 😊

Viki BOSAGORA: Sure, BOSAGORA is the first ICO project in South Korea (since 2017) and a public blockchain platform that aims to “make a better world”. We are working for two goals,

1. Creating a whole new financial environment, an economic environment that is secure and convenient.

2. Making a better world by contributing to the SDGs set by the United Nations.

Gold Rocket | Satoshi Club: [ 🤩 Sticker ]

Viki BOSAGORA: To achieve these goals, BOSAGORA declares ‘MetaChain’ optimized for Metaverse, and we named it as ‘MetaCity’. It is a blockchain-based Metaverse virtual city where is linked to real-life that can contribute to the ESG. 🤗

Gold Rocket | Satoshi Club: This is a very important and noble cause! ❤️

Viki BOSAGORA: Our Foudation members are Iwan Kim, Serge Komaromi and Mario Lee. Also, we have Don Tapscott as our advisor.

D. | Satoshi Club: great! what is ESG by the way? 😊

Viki BOSAGORA: ESG is the short form of Environment, Society, and Governance 😎

Gold Rocket | Satoshi Club: Real dream team 🙌

Viki BOSAGORA: Thank you 😄

Gold Rocket | Satoshi Club: Thanks for clarifying😊

Thanks for great introduction, we will have several questions selected for the Part 1. Ready to start?

Viki BOSAGORA: Yes. I am ready for the Q1.

Q1 from Telegram user @Cheriemike

BOSAGORA signed an affiliation with Standard Protocol,your aim is to expand the metaverse ecosystem through MetaCity Forum a forum that consists of many business ventures.MetaCity Forum is working together for developing ‘MetaCity’, where the real economy and virtual world are merged for transparency and practical ecosystem, through adaptation of Metachain, a blockchain platform developed by BOSAGORA, on metaverse.So can you please elaborate more on these new development?And I noticed that the forum will jointly hold the ‘Global ESG Metacity Summit 2021′ on December 7th,can you give us a sneak peak of this event?Will it be open for the public?And What support will Standard Protocol render to you?Please explain Thanks

Viki BOSAGORA: Well, we are happy to introduce a new partner Standard Protocol ($STND), which is the first collateralized rebasable stablecoin for synthetic assets operating within the Polkadot (https://twitter.com/Polkadot ) ecosystem (https://twitter.com/Polkadot ).

BOSAGORA and Standard Protocol will cooperate including the following areas:

•DEX development linked with BOSAGORA MetaChain

•Support $BOA Liquidity Providing and Farming at Standard Protocol DEX

•Linking up $BOA MetaChain Standard protocol DEX

•Assist BOSAGORA’s expansion to Yearn Finance Ecosystem project ecosystem

For the development,

Viki BOSAGORA: Metaverse-specific blockchain platform that grants trust to all information in MetaCity. There are 2 key technology of our MetaChain:

Flash Layer  & Full Node PoS, I will introduce more later 🙂

We are so excited to announce that we are going to hold the Summit next Tuesday, If you are interested in the MetaCity Summit,  please ready your Oculus VR and register here:  https://www.metacityforum.org/summit-2021  (https://www.metacityforum.org/summit-2021%22%20%5Ct%20%22_blank)

Date & Time: 17th Dec 2021 (Tue) 14:00-17:00 KST (UTC+9)

Gold Rocket | Satoshi Club: Bosagora is very ambitious 😊

Viki BOSAGORA: Let’s meet in Metaverse platform

D. | Satoshi Club: 👍 can you share more of your vision of Metaverse? how it can help to build the better world?

Gold Rocket | Satoshi Club: Satoshi Clubbers let’s join

Viki BOSAGORA: Sure, as I mentioned it before, ESG MetaCity is a blockchain-based metaverse virtual city linked to real-life that can contribute to the environment, society, and governance.

To establish a publicness virtual city, BOSAGORA , as a standing representative from the ‘MetaCity Forum’ with various organizations and enterprises. MetaCity Forum was initially launched with four companies, including:

1.) BOASGORA (Provide MetaChain)

2.) AIITONE (KOSDAQ listed and Metaverse simulation solution company),

3.) URACLE (Mobile app standardization & blockchain middleware company),

4.) BRI (Blockchain Research Institute owned by Don Tapscott),

Viki BOSAGORA: and seven more companies joined as a member after, they are:

5.) IBK Securities (One of eight subsidiaries of the state-run Industrial Bank of Korea)

6.) KB Capital (KB Financial Group, which is a KOSPI-listed company)

7.) Ethan &Alice Marketing (With unrivalled capabilities and know-how in the BTL field, their significant clients are Samsung, Naver, P&G etc.)

8.) Telos (Blockchain-based Metaverse platform developer company)

9.) Finger (A KOSDAQ-listed company that specializes in B2C fintech company)

10.) D’Light (The ‘Boutique Law Firm of 2020’ by the global legal media ‘Asian Legal Business (ALB)’ )

11.) MetaCity Lab (A proptech company, and recently is developing BetteVille, a metaverse-based citizen-participatory urban development platform.)

They will provide Metaverse platform, finical services, marketing strategies and various administrative services as well in the coming future.🤗

D. | Satoshi Club: nice list of partners 👏

Viki BOSAGORA: Also, more and more are expected to join soon, and the ecosystem is continuously expanding. More details will be announced in the coming days.

Gold Rocket | Satoshi Club: Wow! 🔥🔥🔥 It’s amazing

Viki ㅣBOSAGORA: If you don’t want to miss any latest news, please join our communication channels as follows!

Telegram(Eng): https://t.me/bosagora_eng
Telegram Spanish: https://t.me/bosagora_es
Telegram Russian: https://t.me/bosagora_ru
Telegram Turkish: https://t.me/BosagoraTR
Telegram Chinese: https://t.me/bosagora_cn

D. | Satoshi Club: @bosagora_viki thanks a lot for great answers! ready proceed to the next question? 😊

Gold Rocket | Satoshi Club: Join Satoshi Clubbers

Viki BOSAGORA: oh, one second!

Here is the graph for you to understand how we are different from others.

The well-known tokens are related games in the industry recently, but BOSAGORA are mainly focusing on publicness. That means connecting with our daily real life is our selling point, and also our concept.😎

Viki BOSAGORA: I am done 😄

Gold Rocket | Satoshi Club: beautiful infographics 👍

Q2 from Telegram user @SaritaaL

BOSAGORA has developed a deliberate decision making platform, called Votera, so could you tell us more about this platform, how it works, who it is aimed at, what is its importance within the BOSAGORA ecosystem and what kind of decisions are handled through it?

Viki ㅣBOSAGORA:

BOSAGORA issues Commons Budget to provide technical and financial support to projects voted in favor of voters through Votera, a deliberation, and decision-making solution app, a DAO based Governance Tool for BOSAGORA.

Projects that have been selected and expanded with the Commons Budget will be operated on the platform, contributing to the BOSAGORA ecosystem. The status update and voting results of projects in Votera are available in real-time on BOAScan, BOSAGORA’s block explorer.☺️

A true democratic decision making blockchain platform should be as follows:

1.)All node operators should participate freely

2.)Preventing the distortion of public opinion, free from bias

3.)Everyone needs to be given a random name; anonymity is crucial

4.)The vote results should be stored in the blockchain transparently

Gold Rocket | Satoshi Club: another great tool for users👏👏👏

D. | Satoshi Club: did you already select some interesting projects?

Viki BOSAGORA: We will start it when our CoinNet is launched in 2022 Q1.

D. | Satoshi Club: [ 👍 Sticker ]

Gold Rocket | Satoshi Club: by the way, share your roadmap with us please😁

D. | Satoshi Club: since Votera it’s a platfrom, will it have its own token  someday?   😊

Viki ㅣBOSAGORA:

Actually, our development team always put maximums effort to seek fruitful outputs. As the functionality development is completed, we have been conducting code audits with Slowmist, an external specialist, since October 8. So far, the feedback we received was good — only minor errors.

Our CoinNet consists of more than 100,000 lines of code and is developed using the D language.

For stability verification, we have been operating seven nodes worldwide, including Asia, Europe, and the United States, for 13 months on a private TestNet.

Gold Rocket | Satoshi Club: Sounds great 👍

Viki BOSAGORA: Of course. With BOSAGORA CoinNet, all coin holders can stake a certain amount of $BOA tokens and participate in node operation.😎

In particular, as for node operation reward, about 37.8% is generated in the first year when all holders participate in node operation.

If the number of node operation participants decreases, it would mean an automatic reward increase for the rest to share.😚

D. | Satoshi Club: 👍 awesome! thank you for replying😊

Viki BOSAGORA: Compared with other platform projects, SOLANA at about 8–10%, Cosmos at about 8%, and Tezos at about 6%, we can expect higher yields from BOSAGORA node operation. 🤩🤩

Q3 from Telegram user @Ecmq10

Hello Bosagora team. The consensus algorithm is core to any blockchain based currency or system. I read that BOSAGORA uses a Modified Federated Byzantine Agreement (mFBA) consensus algorithm based on Stellar’s Consensus Protocol. Can you explain to us in detail what are the benefits of these modifications to the consensus algorithm? How is it different from the original? Why did you decide to use the modified one instead of the original? What are the key features of the modified consensus algorithm for which you decided to use that one? Thank you!

Viki BOSAGORA: BOSAGORA adopted Stellar’s Consensus Algorithm(SCP), an implementation of the Federal Byzantine Agreement(FBA), which has advantages such as decentralized control, low latency(fast speed), and flexible trust.

Stellar resolved block consensus through voting by node participants, but it took too long time and activities for the general user to obtain voting right for verification. In the end, there were still concerns about centralization, in other words, trust and transparency.

In response, BOSAGORA adopted mFBA(modified Federal Byzantine Agreement) consensus algorithm which combined Stellar SCP and PoS.

Quorum Balancing is a technology that moves one step further from the existing Stellar consensus algorithm and helps everyone easily participate as a validator. Through this, a true decentralized platform can be realized, while securing stability and transparency.😊

D. | Satoshi Club: does Bosagora somehow improving this algo? for its own needs?

Viki BOSAGORA: Yes, you are right 😊

D. | Satoshi Club: i know you have a quite technical team, which spending lots of time by improving project 😊👍

@bosagora_viki do you want to add something else or we can move onto the next question? 😇

Q4 from Telegram User @Jmagsss

BOSAGORA’s ultimate goal is to establish an open decentralized blockchain that ensures transparency of the consensus algorithm and clarity of its contracts. By this, BOSAGORA will be implementing its mainnet called “CoinNet”. Once CoinNet is up and running, will you be migrating and transferring all of your protocols including the nodes, tokens and products into your native blockchain? Can you please elaborate to us your plans for the implementation of your native network? Do you have a tentative date of its release?

Viki BOSAGORA: We made a distinction between CoinNet and MainNet because CoinNet is the settlement layer / flash layer

For the tentative date, we are targeting end of the year, but it is dependent on the wallet, block explorer, etc.

D. | Satoshi Club: so currently CoinNet in testnet phase? if so, users can participate in testing?

Viki BOSAGORA: For more about latest update, we will make announcement when we have done 😄

Yes, our CoinNet on the audit period.  Unfortunately, users are not allowed to join the testing.  🙁

D. | Satoshi Club: got it😊👍

Viki BOSAGORA: But the real CoinNet is coming soon 🙂 Don’t worry about that

Q5 from Telegram user @Gen_Block

It is awesome to know that BOSAGORA care on the community because we know that community plays significant role in the successful project. I hope you also have the same perspective in this community role. I found out at the website that BOSAGORA opens opportunity to be the Ambassador that help nurture and grow a healthy environment for all. What is the main requirements to apply for this opportunity? Is it for certain regions that you are focusing only? Or is it for global Ambassador?

Viki BOSAGORA: Yes, we are so proud of establishing WSO, a non-profit organization that protects the sea in 2021 Spring. With the vision to ‘make a better world’, BOSAGORA provides advanced financial service based on blockchain technology to humanity and contributes to the realization of Sustainable Development Goals(SDGs), a list of urgent tasks faced by the humanity defined by the United Nations (UN).

Gold Rocket | Satoshi Club: I remember this great whale rescue action ❤️❤️❤️

Viki BOSAGORA: In March 2021, BOSAGORA established WSO(WeSaveOceans), a non-profit organization that aims to “solve the climate crisis by protecting oceans.”

It held a ‘Whale Saving Mural Contest’ and unveiled winning works in 5th June, the Environment Day. The unveiled works was painted on large murals in Jeju Island to spread a message which about whale protection.

We are planning to more about this filed to achieve our goal

Viki BOSAGORA: Maybe we will need a global ambassador one day

Here are the final outputs.😍

Gold Rocket | Satoshi Club: This is very noble! Thank you very much for this charity. ❤️

Q6 from Telegram user @antoni_azx 

My question is about the security of the project, could you tell us what Trust Contracts are and if it is an exclusive technology from Bosagora? Do you need special expertise on the part of the developers to use these tools? What is different with the rest of the protocol layers?

D. | Satoshi Club:

Telegram(Eng): https://t.me/bosagora_eng
Telegram Spanish: https://t.me/bosagora_es
Telegram Russian: https://t.me/bosagora_ru
Telegram Turkish: https://t.me/BosagoraTR
Telegram Chinese: https://t.me/bosagora_cn

Viki BOSAGORA: BOSAGORA will implement Trust contracts, securely executable contracts based on a protocol layer. These contracts plan to use a flexible programming language on top of virtual machines like WebAssembly. The end goal is to provide a safely designed smart contract engine and an easy-to-develop language for easy developer adoption.

Unlike other platforms that yield consensus decisions to the individual who holds the most cryptocurrency or controls the most nodes, the BOSAGORA solution provides a more democratic solution to consensus.

D. | Satoshi Club: sounds safe and secure enough 👍

Viki BOSAGORA: Another key benefit of how Bosagora manages Trust contracts subsequent Dapps built on the platform is by providing funding.

Gold Rocket | Satoshi Club: Bosagora knows how to surprise and make a quality product 👍

Viki BOSAGORA: We plan to do our best to become a meaningful project for investors on a long journey with $BOA by devising various strategies to increase the value of $BOA. We will release announcement soon. You can still get in on the BOSAGORA ($BOA) action and there is still scope for growth!☺️

Gold Rocket | Satoshi Club: Thank you very much Viki! this is the incredibly addictive first part of the AMA ❤️

Viki ㅣBOSAGORA: My pleasure🥰

Part 2 — live questions from the Telegram community

Q1. from telegram username@Orlemys

From what I understand, Bosagora is a tech-heavy platform; so much, that it is actually quite complicated to understand what is the real use or mission behind it. So, would you explain in simple terms? What is Bosagora?  What can it do?

 Viki BOSAGORA: As explained earlier, Metacity is a blockchain-based ESG administration platform utilized by city governments. The existing metaverse is limited to specific areas such as games, entertainment, and commerce. Metacity will be a metaverse of a broad concept that encompasses all of them. In particular, the contents of MetaCity will not end with contents within the Metaverse, but will become meaningful contents that affect the lives of real citizens. E.g.: including youth education, traditional finance, donations, and decision-making on municipal issues. MetaCity starts with Namyangju, but can be introduced to any city around the world.

Also, with various financial, marketing, commerce, entertainment, education, and charitable organizations around the world can provide services in Metacity. That means, it allows more finanical activities in the MetaCity. We are keep work with more companies to encourage using $BOA over there.

Q2. from telegram username @ronaldo_super

My question is about token type. Are there any use case of governance for your token holders?

Viki BOSAGORA:

The first project of our ESG MetaCity is ‘Namyangju ESG MetaCity’. Give a short briefing about the Namyangju City, where is 1hr away from Seoul with more than 700,000 citizens. For your understanding, here is the Aerial view for taking reference.

For Governance: Through MetaAgora, a metaverse voting platform, citizens of Namyangju can discuss and vote on municipal administration in the Meta Agora anytime, anywhere.

Q3. from telegram username @Alixbella

🏛🏛🏛I am a token holder and I want to stake a certain amount of $ BOA … What is the reward for participating in the operation of the node? what would be the percentage of profit? Is it true and possible that the reward of the node operation is around 37.8%? this is true, are you serious 37.8%? outperforms all the percentages they offer. Tezos, Comos and Solana who are around 8% How do you manage to operate it? @bosagora_viki

Viki BOSAGORA: There are two ways to participate in node operation.

1st method: Staking and running a node directly. At least 40,000BOA should be staked, and you will get 37.84% profit after one year.

2nd method: Pay a certain fee to T-Fi(=DeFi) Labs and apply for a node operation agency. It is good for those with less than 40,000BOA and do not want to spend time on the device.

37.84% of the initial insurance volume is newly issued for reward to provide node operators in the first year. If all holders participate in node operation, each will receive a bonus of 37.84%. If half of the traders have participated in it, you will receive 75% rewards after a year finally. Sounds attractive, right?

Q4. from telegram username @Robotliker1

Can you tell us more about metacity forum and recent partnership? What are the achievements of your project and benefit can be received from it?

Viki BOSAGORA: MetaCity Forum was initially launched with those companies as below:

1.) BOASGORA (Provide MetaChain)

2.) AIITONE (KOSDAQ listed and Metaverse simulation solution company),

3.) URACLE (Mobile app standardization & blockchain middleware company),

4.) BRI (Blockchain Research Institute owned by Don Tapscott),

 and seven more companies joined as a member after, they are:

5.) IBK Securities (One of eight subsidiaries of the state-run Industrial Bank of Korea)

6.) KB Capital (KB Financial Group, which is a KOSPI-listed company)

7.) Ethan &Alice Marketing (With unrivalled capabilities and know-how in the BTL field, their significant clients are Samsung, Naver, P&G etc.)

8.) Telos (Blockchain-based Metaverse platform developer company)

9.) Finger (A KOSDAQ-listed company that specializes in B2C fintech company)

10.) D’Light (The ‘Boutique Law Firm of 2020’ by the global legal media ‘Asian Legal Business (ALB)’ )

11.) MetaCity Lab (A proptech company, and recently is developing BetteVille, a metaverse-based citizen-participatory urban development platform.)

Based on those services, we plan to expand the user pool by increasing the number of BOA wallet accounts created by providing points as BOA coins to Metacity service users. Not only this, when a company provides service within Metacity, it contributes to store commission for marketing activities. In addition, transaction fees for all cryptocurrencies traded within Metacity are acquired with BOA. So that profits are generated through rewards for BOSAGORA node operation.

Q5. from telegram username @Xusuo

i see that $BOA token already list on Kucoin, thats really great. so how to participate in new trading event for $BOA ? can you share the detail of the event ? thx

Viki BOSAGORA: We love to do event with our holder, and new event is coming soon, please stay tuned 🙂

Q6. from telegram username @nitrogenpower

What’s goal that you are you aiming for the marketcap for Bosagora’s future 2-3 years and later?

Viki BOSAGORA: The goal is to launch Metacity and be listed on global top-tier exchanges. In addition to the content announced today, MetaCity continues to develop very constructive and innovative ideas. The number of partners who will make these ideas a reality together continues to grow. I think these cases can be established as good examples of blockchain being applied to the real world.

Q7. from telegram username @Cheriemike

😍Hello BOSAGORA Team😍

On February 17,you announced your blueprint for ‘T-Fi,’ an advanced financial concept that is anticipated to overtake the existing decentralized finance (DeFi) financial model.So can you tell us what various ways will T-Fi generate profit?What are the advantages of T-Fi in traditional economy?😍

Viki BOSAGORA: DeFi is gaining popularity as a use case for blockchain. However, there are many cases of abusing, and only profits are generated through transactions between cryptocurrencies.

T-Fi is an advanced concept of finance that can participate in various types of finance in the world with cryptocurrency by expanding in the area of DeFi, a transaction between cryptocurrencies. Since profits are generated in the traditional economic area outside the blockchain network, it is impossible to abuse such as hacking and flash loans, so it is fair and safe.

It is highly scalable as it can be linked with any traditional economy beyond the limitations of the existing DeFi. As it is a structure that promotes $BOA staking and $BOA purchase in the process, it has the effect of continuously increasing the value of $BOA.

Q8. from telegram username @Pratze

i hear that BOSAGORA have event name with “GLOBAL ESG METACITY SUMMIT 2021” but im still confuse with the event. Can you explain more detail about this event ? also how to join in that event ?

Viki BOSAGORA: Summary of the summit

📌Title : Global ESG MetaCity Summit 2021

📌Date & Time : Tues, Dec 7th, 2021, 14:00–17:00 KST (UTC+9)

📌Venue:

– Main stage: Jeong Yakyong Library Auditorium, Namyangju City, South Korea (Invitation only)

– Metaverse platform on your preferred device among PC and Oculus VR.

📌Website for registration : https://www.metacityforum.org/summit-2021

At this summit, Don Tapscott will present the social change that blockchain and metaverse will bring and the future society we will face under the theme of “The Metaverse: How Blockchain is Enabling the Next Era of Collaboration, Commerce and Citizenship”. 😎

Q9. from telegram username @Ratash97

BOSAGORA team aims to implement Trust Contracts can you tell us what is the strength of this type of contracts  ?

Viki BOSAGORA: So, It sounds like how different between ‘Smart Contract’ and ‘Trust Contract’. As I mentioned before, a smart contract is the general term used to talk about on-chain “programmatic money”. Trust Contracts are BOSAGORA’s implementation of smart contract. While smart contracts are a general principle, Trust Contract are a specific implementation, based on WebAssembly.☺️

Q10. from telegram username @csgonub

What kind of problems blockchain projects are suffering right now and what kind of solutions are you bringing with this project?

Viki BOSAGORA: I must introduce the Flash Layer.

BOSAGORA, which is developing a blockchain platform specialized for Metaverse, has developed a Flash layer as a solution to the scalability problem, which is one of the trilemma issues of the blockchain. The Flash layer has the technical advantages of instant payment, stable transmission, secure network, and low fees.

The Flash layer does everything that Bitcoin’s Lightning network does, But, the benefit of the Flash layer over the Lightning network is that Flash was built directly into BOSAGORA, instead of being an afterthought. This allowed us greater flexibility by having a simpler Layer1 to Layer2 integration. We are also working on making it the default for the wallet. Currently not many wallets, or exchanges, support LN.

We are so happy to sharing that, with our Flash Layer, BOSAGORA was awarded the 9th Excellent Future Creating Economy Management Company Award under the blockchain platform category, hosted by Money Today (A Korean news agency) for two consecutive years 🤗

BOSAGORA will do its best to deliver good news to its community. Stay tuned  😎

Part 3 – Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

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