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 FantOHMand our guest was. The AMA took place on the 14th of February
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&WebSite
Robocop | Satoshi Club
Hello Satoshi Club community ! We are pleased to announce today AMA with FantOHM
Pavel P
Welcome to our first AMA of this week!
Robocop | Satoshi Club
Today our special guests are @thefantohmdr @bazinga500
Welcome to Satoshi Club!
thedoc
hey there everyone, thanks for having us!
K Bazinga
Hey, great to be here.
Pavel P
Welcome to Satoshi Club! How are you doing today?
Robocop | Satoshi Club
Hello @thefantohmdr @bazinga500, nice to meet you !
thedoc
going well thank you, it’s been a long day!
Pavel P
Just started for me! So, it’s more to come this Monday!
thedoc
hah nice, very late here it’s actually Tuesday right now
Pavel P
And hope to know more about FantOHM during the next hour or more
Robocop | Satoshi Club
yes, very excited to do AMA with FantOHM right now
Pavel P
Let’s start!
thedoc
should be a good one, my fingers are ready
Pavel P
Please introduce yourself, how have you got involved in crypto and how FantOHM started?
thedoc
Well i am one of the co-founders of FantOHM, and i am a long time crypto enthusiast. I had my first bitcoin in 2013 and i still hold that to this day. The last 5 or so years i have been spending time every single day in crypto, investing or researching new projects but it was not until early last year that i began to be involved in building.
thedoc
we started FantOHM at the end of October last year and we were the 2nd Olympus fork to launch on Fantom Opera
Robocop | Satoshi Club
Wow you already in crypto space since 9 years ago, its really great experience
thedoc
Our lead dev had the idea to fork OHM contracts much earlier than that but we had a lot going on so had to wait. would have been great to launch earlier and i can only imagine if we had done so.
Yes, i am a tech nerd and bitcoin and crypto really appealed to me from the very beginning. i knew about bitcoin when you still had to go into a real bank to deposit cash into an account to get some
thedoc
a long time
Pavel P
Time is money everywhere, especially in crypto!
thedoc
totally, crypto moves very quickly and can leave you behind in a heartbeat
Pavel P
So what FantOHM is all about?
Robocop | Satoshi Club
And how about your partner @bazinga500 ?
thedoc
Hah yes of course!
well we probably would not be here if not for @bazinga500 tbh, he has been a real asset to our project and has bought a huge amount of real life start up knowledge and operational experience
working in a startup is not the same as your regular office job
And working in a crypto startup is an entire level up on that
It’s not easy, imagine going to work and having anywhere from 500 to 1500 people standing around your desk telling you how they think you should be doing your job? investors have unprecedented access to the team unlike anything in the real world
Pavel P
I think the fact that you understand it is already a half of success!
Robocop | Satoshi Club
Yes, we can understand the situation , its really difficult
thedoc
So @bazinga500 has helped us setup the internal structure to make sure we can deal with anything that gets thrown at us and that we can keep delivering and shipping product no matter what is going on external to the project
Robocop | Satoshi Club
FantOHM have such great team , by the way how big are your team?
thedoc
including mods, we are over 30 people
Pavel P
Dream team!
thedoc
We grew a lot over the last month
And we still have need to grow even more
We started with 6
Pavel P
Are there are still a bunch of opened positions – you still hire, right?
thedoc
We are always looking to hire, you can see a list of open positions on our website https://www.fantohm.com/#careers
Robocop | Satoshi Club
oh and one more, i also curious with this, what is FantOHM? can you introduce to us ?
Pavel P
Who knows, maybe there are some enthusiasts to join your team among Satoshi Club community!
thedoc
We are, at our core, a rebase project based on Olympus. Our primary product at launch was bonds. If you do not know what a bond is, it is basically buying the FHM token at a discount with certain assets that we offer on the site, DAI, FHM-DAI LP etc and in return you get the FHM vested to you at that price over a period of 5 days (very simple explanation there).
Early on, it was clear to us that we had the opportunity to innovate beyond the standard fork and introduce new products to generate revenue for the treasury and value for our holders.
Holders of rebase tokens generate income through staking. bonding and staking are the core of the 3,3 game theory introduced by Olympus. if we have product that adds value to the treasury, increasing the runway, and showing investors that there is good reason to invest, then we are doing our job well.
thedoc
it is important to note that we have moved away from the just another fork of olympus tag
As we have seen over the last month, some real turbulence in the market relating to rebase projects
So we are aiming to deliver product that takes us further from a fork, into a spork (not a fork or a spoon but better than both things by themselves)
We believe we have already achieved this
Robocop | Satoshi Club
Thank you for the great introduction @thefantohmdr @bazinga500. We have collected 6 community questions from Satoshi Club community,
ready to proceed?
Thedoc
sure thing!
Pavel P
Q1 from Telegram user @ambbobb
Going through your website I could understand that FantOHM DAO has expanded to the Moonriver network through the creation of segregated FHM clone linked via Wan-Bridge, but you gave a diagram that illustrate the basic coin structure overview on Treasury which contains four categories of OHM Forks: Network coins; LP Pools; and Stables, can you briefly explain these categories to us because how does this information applies to each network’s FHM protocol individually and are these branches of FHM built to work in concert?
thedoc
There are two parts to that question, cross chain and the other being treasury management and investments
We were the first fork to go cross chain with our moonriver release
It’s one thing to do that, but we took it a step further by unifying two completely separate protocols that are essentially unaware of each other by bridging the FHM token via wan bridge
This results in a global supply
As FHM from fantom can be bridged to moonriver, and once converted to the FHM native to moonriver it can be then used on the protocol that side
that had never been done with an ohm fork
You can bridge freely between the two, and you might have reasons to do this such as higher APY or You want to get exposure to moonriver and its ecosystem
The second part about our treasury management
The Treasury management document that we delivered last year which is basically our white paper, needs a little bit of an update. Mainly due to categories that are potentially obsolete, say Olympus forks. Essentially, however, the strategy has not changed.
Our treasury is our biggest asset and we need to make sure that it has enough sustenance to continue to grow. With Moonriver and Fantom it means we have two logically separate Treasury’s. We hold different assets in different in the different treasures and the assets that we do hold. Are you know native either to say Moon, River, river or Fantom. But in potentially we have some of these assets held outside of those, on chains such as ethereum or binance smart chain. What you see on the UI is the result of all of those assets being gathered together and displayed in a unified way, no matter where they are. So I think it’s important to know that we’re not stuck with just fantom opera or Moonriver projects, we are investing in different projects from all blockchains.
Our UI is very customised and can display all the information we need via contract interactions, API and The Graph
(sorry for long answers!)
Robocop | Satoshi Club
Thank you for the detail answer, btw did you already do audit ? and how is the result?
thedoc
We have now had 3 audits completed on various parts of the protocol
All passed
You can see the details of these on our docs site
https://fantohm.gitbook.io/documentation/faq#is-fantohm-audited
Our FHUD contract is audited by spadetech and techrate
Pavel P
Thank you! Good to know the bridge works well!
thedoc
we have also had our 6,6 contracts audited by Hacken
that is not released yet
Robocop | Satoshi Club
Thank you, security and safety is always main priority
Pavel P
But the code was confirmed to be correct, right
thedoc
Yes we have had the results, and review after some minor alterations
that audit will be released when we get that product out
Pavel P
Thanks for very detailed answer! Let’s proceed to the second question!
Pavel P
Q2 from Telegram user @UniqueVicky
According to your roadmap, this February you plan of rolling out 9,9 i.e a unique adaptation to the protocol that allows lending but not in the conventional way and on March you also plan of rolling out a feature of lending/borrowing i.e different lending structures to the traditional 9,9 or further lending/borrowing options than 9,9. can you explain to us the key features of this 9,9 lending protocol? Why do you name it 9,9? How is it different from the conventional lending protocol we know? Also you want to further enhance this lending option of 9,9 on March, how will the features of the lending/borrowing different from 9,9 lending protocol? And what advantages or benefits will users derive from it? Please kindly explain their features?
thedoc
When the roadmap was designed 9,9 was still very much in an active phase with regards to Time Wonderland on the Avax network and Spartacus on the fantom network.
Fast forward to today we have seen the consequences of this structure in a bearish general crypto market. As we know time wonderland no longer is the powerhouse that it once used to be and Spartacus is in a similar situation due to the cascading effect of liquidations. Our strategy team was aware of these types of systemic risks and wanted to carefully analyze where the shortcomings were from a theoretical sense, without putting fhm holders at risk. That is why we had delayed the release out by an extra month into FEB to see how the effects would run over the time period of December and January. Consequently, the findings were correct and thus has resulted in the strategy team postponing the 9,9 release until further notice.
Robocop | Satoshi Club
thank you for this clarification, is there any plan to recreate the roadmap ? or maybe is there any new roadmap that you can share with us?
thedoc
Leverage can be risky, so we had to take a step back on that one to wait for the right moment to release the right product.
We have a roadmap on our site, this will require some updating very soon. https://www.fantohm.com/#roadmap
roadmaps in crypto are taken with a grain of salt as they are bound to be obsolete very quickly
thedoc
(i don’t like them)
Pavel P
Agree with you – but it gives at least the vision of future plans
Dates can be revised anytime
Robocop | Satoshi Club
Haha ,yes hate if not on time, user always get mad
thedoc
totally that’s right
Pavel P
Thank you for your answers! Ready to see the 3rd question?
thedoc
hit me
Pavel P
Q3 from Telegram user @Meta_MateX
You say that your community will be rewarded to executing or participating in specific tasks. As far as I get, this will be done through DAO. Could you explain the main principles of its functionality including the distribution of funds? Please also talk about the emergency allocation – the reason of holding it, when and how it can be used and how does your DAO manages its distribution. Thanks in advance!
thedoc
There’s a few ways that one may be rewarded in our project
initially we had a bounty system where we offered payments for small development tasks, our stat bot for eg is one of these
Robocop | Satoshi Club
Oh bounty event , do you have link about this? and how about airdrop?
thedoc
Otherwise you may be an integral part of the community, and end up being rewarded for your time or ideas submissions
It was something that we had running at the start, but not so much any more. that being said, if i feel the need then there’s no reason to not offer a bounty for this type of contract work in the future.
We had no airdrop, and do not plan on it.
If you were a very early discord member you would have seen me flinging FHM around a bit to get the server running (boosters etc)
Those guys would be sitting pretty if they staked that from that date until now hah
regarding the emergency allocation
There is an emergency allocation, that we do have set aside for things like potentially stabilising the FHUD liquidity pool or when we did have 9,9 on the horizon it may have been useful then. If we do need to dip into it, you know that all goes into a transparent accounting, but if we don’t then those funds will just get placed back into the treasury.Our treasury management guide outlines the details of these allocations.
which is…. right…..
there
Robocop | Satoshi Club
Thank you for the detail answer, its clear for me, do you have any additional question @Pavel_Jarosh?
Pavel P
I’m ready to see the next question if @thefantohmdr is ready
thedoc
go on
Pavel P
Q4 from Telegram user @einsteinyl
FantOHM already create 2 token $FTM and $FHUD. But actually I only understand that $FHUD token is a stable coin that pegged to $1 USD. So would you please introduce to us what are all functions from $FTM token and $FHUD token? What makes the stablecoin $FHUD different than other similar stablecoin for example maybe USDT, USDC and why its special?
thedoc
FHUD is our in-house algorithmic stable coin and it is developed specifically with our protocol in mind. Everything about it is aimed at increasing our treasury value and improve value to investors.
With v1, we introduced the proof of burn concept which is a deflationary mechanic that burns the non circulating supply in our DAO wallet. This unlocks that value which is sitting there idle in the DAO and enables us to put it to use by swapping out the stable assets in the Treasury and making investments which we then return back to the Treasury.
This is not possible to do with a stablecoin we do not control.
We cannot mint DAI or USDC
It’s important to note that this is not just printing unlimited money, there is a limit and we do not just print at will.
Robocop | Satoshi Club
so this is mean FHUD is not tradeable, right?
thedoc
we burn the FHM in the DAO to create FHUD which gives it its intrinsic value
Now FHUD is tradeable on Beethoven X
Pavel P
Could you also share your tokenomics?
thedoc
we released v 1.5 of FHUD last week with the launch of a $10m FHUD-DAI pair
thedoc
https://fhud.fantohm.com/ our purpose built website here as all the info you need
https://beets.fi/#/pool/0x20dc8f03ece2bca3e262314f6ede7b32939331d70002000000000000000001f0 here is the link to the pool on beets
with the v1.5 release, anyone can participate and hold FHUD
https://app.fantohm.com/#/bonds-fhud we have designed special bonds to help maintain the peg of $1
Robocop | Satoshi Club
Thank you for sharing
thedoc
you can always buy FHUD for $1 on the site
our marketing team have created some great guides to explain this too https://www.youtube.com/watch?v=uf1hmZ7dwVo
we will be introducing much more utility to FHUD in the coming weeks
right now, the ability to participate in arbitrage for the peg maintenance so the primary reason to trade
Robocop | Satoshi Club
Awesome! thank you! Video is always a good source of info
thedoc
But we will be partnering with different projects that will help spread FHUD around as far as possible and allow other uses for it
Cross chain also
Yeah our youtube has loads of info about our project, but also crypto general education https://www.youtube.com/channel/UCa1eJEgcVnFhfLNdjw3yr4g
Pavel P
That would be great for our community too!
Thank you! Ready to move to the next question?
thedoc
yep
Pavel P
Q5 from Telegram user @Rozielyna
FantOHM is a Multi-chain Decentralized Reserve and Revenue Protocol, not just another copy-paste OHM fork that is built on Fantom Network. Rather, you aspire to reshape the way investors think about financial services, financial products, and the distribution of profit. You are solving the problems of ever-increasing inflation and the limitations of traditional finance. Please tell us What has your journey through 2021 been like, what are you accomplishments so far? What are some of the existing problems faced in the crypto world and how were you able to fix those problems? How do you intend to grow the FantOHM ecosystem? What are someone the innovations we should expect from the FantOHM network before the year runs out?
thedoc
great question
thedoc
We launched at the very end of October last year and have had a very interesting few months.
initially, these projects would launch in a kind of bootstrapping or treasury building phase where collecting as much treasury funding as possible is the primary objective
This introduces challenges, although you would think that having a huge treasury really quickly would be great it means a great deal of dilution has occurred.
this is a unique problem for these forks
so we have not only to learn these lessons, but to adapt to them to take control of the protocol so we can get the stability we need to do what we really want to do
we are always looking for gaps in the market ,and are not often seen doing what others are doing
we may invest in projects that are filling some of these gaps (see our investments page https://app.fantohm.com/#/investments )
or we may develop a product that fills this gap
it is very important to us that we have a protocol that can withstand all the crypto seasons
and to do that, we might need to develop product that links back to our treasury from the outside
it’s a very big world, and crypto is really very small
Pavel P
Great that you plan on the long run!
thedoc
Tapping into the global markets at scale is a primary goal
Well once you start one of these things there is really no stopping!
you can’t stop
Pavel P
It’s called – addiction!
thedoc
well, committed
Pavel P
Let’s continue with the last question of part 1!
Robocop | Satoshi Club
Thank you for the detail answer
Pavel P
Q6 from Telegram user @chinyere2020
Stakers can stake their $FHM tokens on FantOHM website to earn rebase rewards but some individuals buy $FHM then stake those $FHMs only to sell immediately after the rebase. This hurts all other FantOHM stakers and causes excess dilution and negative price action, therefore, you decided to introduce a feature called “Warm up”. Can you give more details about how this feature works? How does the “Warm up” feature protect the FantOHM platform and other stakers from the excess dilution and negative price action that can be caused by the activities of rebase sellers?
thedoc
Warm up feature is a protection against rebase hoppers that used to just go in before the rebase, stake, get the rebase distro and then then unstake and sell on the market. This was causing lots of pain to our investors and added a signification sell pressure. We also do have a video that explains the issue and how we solved it. Its very simple, now when you stake there are at least 2 epoch periods before you can withdraw your rebase rewards.
It was rife among rebase tokens at the start due to the different epochs
It’s very simple, now when you stake there are at least 2 epoch periods before you can withdraw your rebase rewards. you are still accumulating rewards when the sFHM is sitting in the warmup contract (not in your wallet) and when you claim you get your staked about plus all rebase rewards owed. For more detailed info here is a handy video.
Pavel P
Thanks! That gives a clear picture and protects every staker!
Robocop | Satoshi Club
Thank you for the answer ! it has been an amazing time in this first part of the AMA
Pavel P
Before we proceed to the second part of our AMA, please share your useful links with our community
thedoc
we have a link tree here: https://linktr.ee/fantohm
https://app.fantohm.com/#/dashboard
there’s a few
Pavel P
Thank you!
So, let’s get ready for the storm of LIVE questions from our community!
thedoc
thanks for having me on there
Robocop | Satoshi Club
Don’t forget to join Satoshi Clubber for the new update from FantOHM
thedoc
not sure what to expect for this next bit
haha
Robocop | Satoshi Club
Are you ready for the biggest storm of question in Satoshi Club ?
@thefantohmdr @bazinga500
thedoc
lordy lord
Pavel P
No worried. We open chat for 120 sec – when we close it back please choose 10 questions to answer!
thedoc
ok great
let’s do it
Part 2 — live questions from the Telegram community
Q1 from Telegram user @Wong2008
What is your plans exactly to keep the juiciest APY?
thedoc
This one is relevant.
We still have a very high APY of about 200k% and we plan to keep this for as long as possible. it is, very large and comparing us to other projects, we are arguable the best ROI. it is no accident that this is the case, we have very carefully managed treasury and DAO and it is all in the name of FHUD
Q2 from Telegram user @Sourava12
I am Very Eager to know about the BONDING MECHANISM which You have
Launched and How You have Planned to Maintain FHUD pegs to $1 ?
thedoc
This one related to the recent v1.5 release of FHUD. we have new bonds that will help maintain the peg for FHUD. as a partially collateralised algo stablecoin, it relies on tokenomics to maintain peg. if a user ccan buy at $1 from the UI and sell it above peg for a profit, that is a successful trade and it also helps shift the peg closer back to $1.
likewise the other way, you may see the peg below $1 on beets, and you can sell this back to the protocol at $1 via the bond so you buy it and help move the peg back to $1.
we have the underlying bonding contracts available to us, so we have just built on that.
Q3 from Telegram user @chronic36
How many members currently make up your team? Are you hiring, looking for new members for the reason to expand?
K Bazinga
We have approx over 30 people in the team working. We are actively looking for talented people to onboard our team, you can find more info here: https://www.fantohm.com/#careers. Fantohm DAO is just at the begginng phase of its expansion and thus we plan to grow several times the number of people we have.
Q4 from Telegram user @vabbe1238eid
Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?
thedoc
We do not at this stage. buy backs in a bearish market are a waste of money. you can see other projects doing this but they never stick as the sell pressure is far too great. instead, we build and deliver product through these periods and show investors that we can do that and build the treasury at the same time. if the token price is so far below book value, it’s a sign of an undervalued stock and a very good buy. treasury value to market cap is a good indicator of that.
Q5 from Telegram user @barisbektas1
I realized that FantOHM DAO accepts Clandestina NFTs and will put them up for auction, so what are the main reasons FantOHM DAO expects for this move? Will we see different NFT studies from FantOHM DAO platform?
thedoc
Clandestina was a move we made to continue the narrative of innovation we started. it’s a utility nft that gives fractional ownership of a secret network validator node and we own 1% of the total supply. this is a revenue stream for the treasury.
we do have one that we will auction off soon, i can’t tell you exactly when that will be but it will happen
Q6 from Telegram user @captainprice111
Can you tell us in simple sentences about your miracle that has achieved high returns with FantOHM DAO’s Healthy APY and 5-day ROI? Do you have financial analysts and market-experienced team members in FantOHM DAO’s team who are constantly examining the macro and micro economic factor?
K Bazinga
We are one of the few projects that in December started looking at the market and got ahead of the curve as we knew that we needed to innovate in order to keep growth. While other projects dropped APYs and sank. Our strategy team of highly experienced financial & actuarial analysts with decades of experience between them decided to take this issue head on and prepare for this. Thus we came up with the proof of burn concept. More detailed info on this can we found here.
https://www.youtube.com/watch?v=Kg6AKydyHZM https://medium.com/fantohm/why-fantohm-daos-apy-is-the-highest-and-how-we-make-it-happen-9723a7f3cb99
Q7 from Telegram user @Gutike95
I read that FantOHM is run by an anonymous group of dedicated developers, strategists, advisors, and crypto veterans united by a passion. But really why have they decided to be completely anonymous? Don’t you think this will give users doubts about investing in their project? or do you have any way to guarantee that they are trustworthy?
thedoc
We are all anon yes, some internal doxing but otherwise anon. when we launched it was not a huge cry from investors to dox or kyc, but as we progress it may become something we need to do. there are moments in crypto when things are great, but there are times when they are not. it’s during those times you would wish you were not a public figure.
Q8 from Telegram user @Manzanog
Can we really only buy OHM on SpookySwap right now? If so, then do you plan to list it on multiple other exchanges? If so, which ones would they be and for what date do you plan?
thedoc
we have LP on spooky only for FHM, but we are also now on beets for FHUD. we may add new LP on beets for different pairs relating to FHM and FHUD. you may also see other places that you can use FHM and FHUD in the near future.
https://spookyswap.finance/swap?inputCurrency=0x8D11eC38a3EB5E956B052f67Da8Bdc9bef8Abf3E&outputCurrency=0xfa1FBb8Ef55A4855E5688C0eE13aC3f202486286
https://beets.fi/#/pool/0x20dc8f03ece2bca3e262314f6ede7b32939331d70002000000000000000001f0
we also are on huckleberry on moonriver and can have both USDC.m and USDT.m pairs.
https://www.huckleberry.finance/#/swap?inputCurrency=0x748134b5f553f2bcbd78c6826de99a70274bdeb3&outputCurrency=0xfa1FBb8Ef55A4855E5688C0eE13aC3f202486286
https://www.huckleberry.finance/#/swap?inputCurrency=0xE936CAA7f6d9F5C9e907111FCAf7c351c184CDA7&outputCurrency=0xfa1FBb8Ef55A4855E5688C0eE13aC3f202486286
Q9 from Telegram user @Jonathantross
While Reading about the FantOHM, I Encounter With the PROOF OF BURN MECHANISM, Frankly Speaking , I have not heard of this
Mechanism, Could You Please tell me More about this Mechanism ?
K Bazinga
Yes why not. There is a lot of information in our discord engagement chanel and also in our WIKI. For more questions regarding that you can always drop in our community and get to know more about it.
https://fantohm.gitbook.io/documentation/fhud/proof-of-burn
https://www.youtube.com/watch?v=4cNCR6NC17I
Q10 from Telegram user @EdgarCNova
Hello FantOHM, I would like to know what happened with Crystal Ball and why it does not appear? can you explain why they removed it?
thedoc
Yes. The Crystal Ball/Calculator has been removed from our site. In many ways it created a false narrative about a single possible scenario that we could not guarantee so we decided to take it down. We felt that was the most responsible thing to do. The team has had many discussions about possible improvements to make it better but have not been able to devote development time to doing so. We understand many like it but have found that there are non-FHM versions (both graphical and spread sheet based) online that you can use.
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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