Hello, Satoshi clubbers and guests of this site. Today we will talk about the Katalyo project. Katalyo is no-code digital transformation platform for building hybrid applications.
The AMA took place on February 6 and our guests were Ivica Ljubicic – co-founder and CEO of Katalyo.
The total reward pool was 10000 KTLYO and has been split into 3 parts.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Website
Mary | Satoshi Club:
Hello Satoshi Club! We are happy to announce our AMA session with Katalyo! Welcome to Satoshi Club😀
D. | Satoshi Club, [08.02.21 15:00]
Hello, Satoshi club!
D. | Satoshi Club:
Our guest today @ivica_kataLyo! hello! Welcome to Satoshi club!
Ivica Ljubicic:
Hi Satoshi Club!
Ivica Ljubicic:
It’s a pleasure and privilege to be here and share the story of Katalyo!
Mary | Satoshi Club:
Hello @ivica_kataLyo, happy to see you here 👍
D. | Satoshi Club:
How are you doing? 😊
Ivica Ljubicic:
Very excited to be honest!
Ivica Ljubicic:
You have an awesome community here.
Mary | Satoshi Club:
Yes, and we are always excited to see new projects here!
Mary | Satoshi Club:
Let’s start our AMA 🚀
D. | Satoshi Club:
But intro first 😉
Ivica Ljubicic:
Lets go!
Mary | Satoshi Club:
Could you please introduce yourself and tell us your story behind Katalyo 😉
Ivica Ljubicic:
My name is Ivica and I’m the co-founder and CEO of Katalyo. I’m a crypto OG all the way back from 2011 when I first heard about this new thing called bitcoin.
Mary | Satoshi Club:
Yes, I read that you mined it in 2011?
Ivica Ljubicic:
I started my BTC node and mined for a couple of months but to be honest I didn’t realize the magnitude of change and disruption blockchain brings to the table.
Mary | Satoshi Club:
Did you save that coins?😀
Ivica Ljubicic:
So I drifted to other things until 2016 when blockchain started to get the attention of mainstream media and I got back in the game and never looked back.
Ivica Ljubicic:
Yes, I’m one of those that managed to lose my keys in the process.
Mary | Satoshi Club:
Ohhh🤦
Ivica Ljubicic:
So unfortunately my BTC I mined at that time is lost forever.
Mary | Satoshi Club:
Yes, a lot of BTC were lost in this way.
Ivica Ljubicic:
What I did realize is that regardless of blockchain’s power to disrupt is was very difficult to use and even more difficult to build.
Ivica Ljubicic:
And this is how Katalyo was born.
Mary | Satoshi Club:
Yes, it’s a great idea!
Ivica Ljubicic:
We wanted to find a way to make blockchain more accessible to everyone and we found that no-code is the way to do it.
Ivica Ljubicic:
A lot of progress has been made especially on the consumer end however it’s still difficult to build blockchain-powered applications and we want to change that.
Mary | Satoshi Club:
Yes, crypto should be more user-friendly 👍 and as I know your project will help us😉
Ivica Ljubicic:
In a nutshell, Katalyo is a cross-chain no-code platform for building blockchain-powered applications. So DeFi, NFTs, asset tokenizations, etc.
Mary | Satoshi Club:
A lot of features!🔥
D. | Satoshi Club:
Thank you for the nice intro @ivica_kataLyo! if you are ready we can start with community questions? 😉
Ivica Ljubicic:
Sure. Let’s start.
D. | Satoshi Club:
Let’s go! 🚀🚀🚀
Q1 from Telegram user @blockmen
the founders half a century of joint relevant experience in building software solutions for the telecommunications and financial services industry. How is your previous experience applied in this project specifically? How many team members do you have working beside you?
Ivica Ljubicic:
Obviously, we have a lot of experience in let’s call it traditional industries especially in building software solutions at scale. This knowledge and experience come in very handy when you look to build an ecosystem like Katalyo.
Ivica Ljubicic:
At the moment we’re a team of 7 (3 co-founders). Our team consists of devs, security experts, designers, infrastructure people, and operations. We’re looking to expand the team during Q1 and Q2 to increase our delivery capabilities and also our marketing/pr capabilities.
Mary | Satoshi Club:
Yes, you have a lot of events later in 2021😉
Mary | Satoshi Club:
Which traditional industries your team experience mostly apply to?
Ivica Ljubicic:
Well, 2021 will be the year in which we establish Katalyo as a powerhouse when it comes to blockchain no-code technology.
Ivica Ljubicic:
Majority of experience is from the financial services industry (banking and payments) and blockchain is the fuel for finance 2.0 and the boom of DeFi is the proof of that.
D. | Satoshi Club:
This is true 😊
Mary | Satoshi Club:
Great! I see that you have a really good team that can build an excellent platform!
Mary | Satoshi Club:
Ready to proceed?😀
Ivica Ljubicic:
Yes, let’s proceed.
D. | Satoshi Club:
Let’s do this!
Q2 from Telegram user @cryptomonkss
You are registered in Hecimoviceva Ulica 11, 10000 Zagreb, Croatia. Usually, projects are registered in Singapore, Hong Kong, Malta, Switzerland, and so on. What made you register in Croatia? Does the state support crypto projects? Aren’t the taxes for crypto higher than in other jurisdictions?
Ivica Ljubicic:
We live in Croatia and most of our team is here so it made sense at the time. Yes, there’s a big question mark when it comes to regulation so we’ll see what the future will bring and if we’ll need to look for other more friendly jurisdictions. On another hand, we’re not a company focused on crypto trading so from that perspective crypto taxes are not that relevant.
D. | Satoshi Club:
So at the current time, there are no problems with regulation for your project?
Ivica Ljubicic:
Not that we’re aware of.
Mary | Satoshi Club:
Yes, and I want to ask if it was hard to register in Croatia?
Ivica Ljubicic:
No, not really.
Mary | Satoshi Club:
That’s good, so you can hope that you won’t have a need to re-register in another jurisdiction 😀
Mary | Satoshi Club:
Let’s jump to the next question?
Ivica Ljubicic:
Lets do that.
Q3 from Telegram user @alexeimaruta
The presale happened in December. How many funds have you raised? Is it enough for future operations? what is the vesting period for the investors in the presale?
Ivica Ljubicic:
Actually, we had no presale. In December 2020 we had a public sale in which 2.000 ETH was raised. According to the current plans, this gives us enough runway for at least 12-18 months. So there’s no vesting period for the tokens from the sale and all are circulating. 85% of the tokens are locked for a period of 6-48 months.
D. | Satoshi Club:
2000 Ether is a very nice amount, congrats! 🙌
Mary | Satoshi Club:
Can you show our users your tokenomics 😀
Ivica Ljubicic:
Tokenomics can be found here https://katalyo.medium.com/ktlyo-tokenomics-c217ad46213d
D. | Satoshi Club:
Thanks! 👍
Mary | Satoshi Club:
Mary | Satoshi Club:
Which tokens are locked? I mean 85%😀
Ivica Ljubicic:
Proportionally all tokens except from the Pre-sale and team tokens are locked for 24 months.
Mary | Satoshi Club:
Got it, thanks 👍
Mary | Satoshi Club:
Are you ready for the next question or you want to add something?
Ivica Ljubicic:
I’m ready for the next question.
Q4 from Telegram user @lionelos
The token is used to consume the services in the Katalyo ecosystem including the creation of the NFTs. Katalyo token is also used to mint the NFTs which locks Katalyo tokens inside the NFT taking it out of circulation and decreasing the supply. But besides the NFTs, have you thought of different use cases for the token?
Ivica Ljubicic:
In general, token will be needed to use the services of the platform. So when something is built on the platform in order to use it you’ll need to have KTLYO in your wallet.
D. | Satoshi Club:
So I have to use your tokens to make an NFT? are those tokens will be burned after minting of NFT?
Ivica Ljubicic:
This is especially important for our cross-chain capabilities. For example in partnership with NULS where we’re building the capability to transfer the token from NULS to ETH and this will enable us not have to many dependencies on any native token of the L1 platform we support. The beauty of it is as Katalyo is a platform for building applications there will be many use cases we’re even not aware of today.
Mary | Satoshi Club:
Btw, do you plan to implement governance for your project?
Ivica Ljubicic:
No. Tokens will be locked and the owner will be able to get the tokens back in case if the NFT is destroyed.
D. | Satoshi Club:
Nice, very interesting 👍
Ivica Ljubicic:
This will come down the line when the project is more mature and has a strong community of builders.
Mary | Satoshi Club:
We will follow your news and development! Sure, you will have a strong community!
Mary | Satoshi Club:
Ready to proceed?😀
Ivica Ljubicic:
We have an awesome community but we’re a very young project and our community will grow stronger for sure as we move along.
Ivica Ljubicic:
Yes, I’m ready to move on.
Mary | Satoshi Club:
🚀🚀🚀
Q5 from Telegram user @iulya_i
Telos and NULS are friends with Satoshi Club team from what I know. They are legit projects and I am sure that you are as well since you partnered with them. What are the terms of your collaboration? Do they get a % of tokens as well?
Ivica Ljubicic:
We participate in their SCO program on the POCM platform. This enables NULS holders to earn KTLYO. If your community is interested to learn more you check out the link https://pocm.nuls.io/pocm/Projects/ProjectsInfo?releaseId=74
Mary | Satoshi Club:
Of course! We will read it!
Ivica Ljubicic:
And for Telos, we block producer candidate which means we contribute a lot to how the Telos protocol and the network develops.
Mary | Satoshi Club:
Why you choose NULS?
D. | Satoshi Club:
So in simple words – I have to hold NULS and I will get KTLYO as a bonus?
Ivica Ljubicic:
We’re looking to partner with different L1 protocols that will complement our capabilities. So for example the choice of Ethereum is obvious. What we like about NULS is its microservices architecture which will give us a very efficient and effective way to integrate with them.
Mary | Satoshi Club:
Yes, you’re right, i like NULS as well for this👍
Mary | Satoshi Club:
What about this😀
Ivica Ljubicic:
If staked on the POCM platform.
Mary | Satoshi Club:
Thanks!
D. | Satoshi Club:
gotcha. thank you for the answers!
D. | Satoshi Club, [08.02.21 16:21]
And the last question from part 1! 🥳
Q6 from Telegram user @mike_not_mike
I’ve read your monthly report and you tend to focus highly on marketing in the Asian markets. How about the European and the American? They are very important for future growth and adoption
Ivica Ljubicic:
We will focus on different markets as we move things forward. We initially focused on the Asian market due to the real estate tokenization project we’re working on and our partnership with InBlockchain.
Mary | Satoshi Club:
Which local communities do you have now?😀
Ivica Ljubicic:
We do not have local communities yet. Our aim is to focus on building a strong global community first and then branch locally.
Mary | Satoshi Club:
Gotcha!
Part 2 — live questions from the Telegram community
Q1 from Telegram user @melanintrish
NFTs are the future, can you tell me how NFT’S be used and be created in the Katalyo ecosystem?
Ivica Ljubicic:
Katalyo is a platform for building applications. We will provide the visual tools to create and mint NFTs. We will not issue our own NFTs.
Q2 from Telegram user @Garrinepotter
Cross-chains, bridges between blockchains are now very popular topics. Suddenly everyone decided that one cannot live without bridges. And I don’t understand how they can really be used. Let’s say you announce the launch of a bridge to the EOS blockchain. How can I understand in practice that it works?
Ivica Ljubicic:
The point of the bridge is to bring together different chains to create an application. This is particularly needed today having in mind huge ETH gas fees. By bringing together ETH and NULS for example a Dapp can combine the liquidity and scale of ETH and performance and lower cost of NULS. In practice, the bridge enables flow of tokens among chains as one example.
Q3 from Telegram user @tuvalunia
I saw a feature called “Version Control”, is that similar to SVN (Subversion) which is used in traditional coding?
Ivica Ljubicic:
Katalyo platform is made up of different components we call resources. So version control will be applied to these components similar to SVN.
Q4 from Telegram user @meml97
I read on your lite paper that “Katalyo is running on a proprietary No-Code engine”, could you explain more how that is possible and what does that mean? How this makes Katalyo differ from projects that are built similar, for example, different from Katalyo’s main competitors such as unibright.io, or those no-code platforms coming like Appian and salesforce?
Ivica Ljubicic:
It’s very similar to the projects you’ve mentioned especially unibright however, our cross-chain strategy is something we feel differentiates us from the crowd.
Q5 from Telegram user @KASG95
I understand that Katalyo can achieve great things? but if I just wanted to develop a dApps on a chain other than Telos, could Katalyo help me create it?
Ivica Ljubicic:
If it’s a chain that Katalyo supports then yes. Otherwise most likely not as we would not have the resources to do something like that.
Q6 from Telegram user @PrishepaTrade
How does Katalyo ensure off-chain and in-chain security with which you integrate? Do you have access to users’ private keys?
Ivica Ljubicic:
No, we don’t have access to the private keys and we never will. It’s achieved in a similar way like for example etherscan where usually metamask is connected to execute transactions.
Q7 from Telegram user @surendra040
Being the CEO of Katalyo what is your today message to the community about Katalyo? what are your expectations?
Ivica Ljubicic:
Our goal is to create a vibrant community that shares our vision for creating a comprehensive ecosystem that will drive blockchain adoption. We’re on a very long but exciting journey and hopefully, together we can make Katalyo a great success!
Q8 from Telegram user @Gutike95
One of the great problems of creating great digital projects is that great developers are needed to bring the idea to reality through coding, but with Katalyo anyone who has a great idea can implement it? Or will we need developers too but Katalyo?
Ivica Ljubicic:
This really depends on the use case. If the platform supports all required functionality then help from us will not be needed. If some components need to be enhanced or developed from scratch then our help would be needed in some form at least.
Q9 from Telegram user @apocan99
I see that you have your own Katalyo Blockchain. So I understand the products created by users will be on Katalyo. But what about other blockchains? Will the products be compatible with them or only run on Katalyo?
Ivica Ljubicic:
We don’t have our own blockchain but we integrate with other L1 technologies like Ethereum, Telos, or NULS.
Q10 from Telegram user @BERTA2020
How do you plan to achieve global expansion in countries that do not speak English as well as Spanish?
Ivica Ljubicic:
We will need to have a local presence there with people speaking the local language. That’s why we’re not focusing on having a local presence as of yet.
Part 3 – Quiz Results
In the final part, we tested your knowledge in terms of Katalyo. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 8000 KTLYO.
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