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 Libcoin and our guest was . The AMA took place on the 29th of March
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
Mary | Satoshi Club
Hello Satoshi Club! We are happy to announce our AMA session with Libcoin! Welcome to Satoshi Club
Jonah 🏅🎹 | Satoshi Club
Let’s welcome our guests @shuaigerr and @richieryan
Hello welcome to Satoshi club
Richard Ryan
Hello Everyone
Am Richard from Libcoin
Mary | Satoshi Club
Hello, Richard! Welcome to Satoshi Club
How are you today?
Richard Ryan
@shuaigerr will join us in a couple of Minutes
Am doing great and am glad to be here today
Jonah 🏅🎹 | Satoshi Club
We are Glad to have you here and looking forward to @shuaigerr joining us as well
Mary | Satoshi Club
We are excited as well and let’s start
Richard, could you please introduce yourself and tell us more about Libcoin?
Richard Ryan
Vincent the the project manager / COO at Libcoin.
I am Libcoins community Manager and I have been in the blockchain space for 3 years now
Richard Ryan
Libcoin is supercharging crypto by plugging in the first tokenized gigafactory. The coin democratizes access to a new class of investors to participate in top-tier green energy investments.
Mary | Satoshi Club
Important position!
When did you start to develop your project? How young is it?
Richard Ryan
The Libcoin is a governance and reward token backed by a portfolio of investments into world-class battery technology.
The mission of the Libcoin team is to both accelerate the transition into clean energy while democratizing the community and financial opportunity through a novel crypto asset.
Jonah 🏅🎹 | Satoshi Club
Impressive
Mary | Satoshi Club
Could you tell us about people who are working on the project as well? How big is Libcoin team?
Richard Ryan
we have a senior team of energy and finance executives who have fallen down the crypto rabbit hole
Jonah 🏅🎹 | Satoshi Club
Are they anonymous?
Richard Ryan
The Libcoin team is composed of high-level executives with significant experience in the investment and manufacturing industry. It includes members of the Duggal Family Trust (DFT), a private investment trust that manages a wide range of investments, including battery storage manufacturing.
Mary | Satoshi Club
Wow! You have really professional team!
Richard Ryan
DFT is partnered with Melbourne-based Avass. Avass brings to the table their experience as world-leading lithium-ion battery producers and EV manufacturers.
Richard Ryan
Our team are doxed
Jonah 🏅🎹 | Satoshi Club
Awesome
Mary | Satoshi Club
We will check for sure!
Richard Ryan
Check out their website, they hold the Guinness world record for EV bus with the longest range so you know they’re first-class
Another one to call out is the Duggal Family Trust.
The DFT Group is a big group of Companies and is active in Australia, Singapore, India, New Zealand, China and Indonesia but with activities all over the world in other countries such as Hong Kong, Macau, Mauritius, Peru, Turkey, Nigeria, Russia, South Africa, the UK and the US.
Mary | Satoshi Club
And thank you for your intro! It was great! We choose 6 questions for the first part of our AMA! Are you ready for them?
Mary | Satoshi Club
Richard Ryan:
This plan has already been directly endorsed by the government of India and BHEL -> see more information on the original press release here from the Ministry of External Affairs https://indbiz.gov.in/bhel-libcoin-to-build-indias-first-li-ion-gigafactory/
You can see the plans have been 2 years in the making so it’s super exciting to finally have this project gearing up for launch.
This project will be funded easily by eager institutional and corporate investors. In fact, 75% has already been funded. Work will start in 2022 to actually build the factory. But part of the mission of Libcoin is to use new innovative methods of financing that will allow Indian and world citizens to be a direct stakeholders in the green energy transition.
Richard Ryan
before we proceed
Sorry was having some tech difficulties. But i manage to upload a high lever version of the next few quarters.
The key milestones will be the token launch jointly with a big media campaign. We want to do an exchange listing in Q1! We have already sold $2+m in private sales those are ongoing. more details on the token launch in the deck and white paper.
Richard Ryan
In phase 1 there will be a governance and reward component. We will not be fully decentralized but our goal is to become more and more decentralized over time.
This will mean that Libcoin holders who stake will get extra benefits that include voting on the future of libcoin.. and even rewards from our partners. They will be good as we have an amazing partner network, and as said early movers will be rewarded!
Holding Libcoin means you own part of the Gigafactory and the Libcoin ecosystem. As they represent real-world assets there will be a return that is returned to Libcoin holders through a token burn.
Any future fundraising for additional projects will only be done through a governance procedure.
Mary | Satoshi Club
Wow! Holders will be rich i can suppose
Richard Ryan
This is one strategy to keep Libcoin holders engaged, you decide how the ecosystem is powered and plans future projects.
Imagine each Libcoin holder getting MORE libcoin for a new raise (just by staking) — it’s all possible. And Libcoin has an ambitious pipeline to meet the demands for renewable energy in the next 10 years… so this Giga factory is likely only the beginning.
Mary | Satoshi Club
Richard Ryan:
our president is George Gregor, who used to be VP at a major investment bank – but now is leading Libcoin. read more about him here.
https://medium.com/@libcoin_token/meet-george-h-gregor-libcoins-new-executive-president-a9e021e05793
Jonah 🏅🎹 | Satoshi Club
Great Target
Richard Ryan
@madamlobster Vincent is currently travelling and having connection problem but he is in the group now seeing the answers
Jonah 🏅🎹 | Satoshi Club
Awesome, Thank you for the introduction
Mary | Satoshi Club
Np, he can join when he will be available
Mary | Satoshi Club
Richard Ryan:
We have a long list of partners, please check out our website! libcoin.net
But let’s call out a few.
Our battery technology partner is Avass
it’s an Australian company and they’re committed to establishing world-class, mass manufacturing facilities with aims to be one of the most powerful and respected Electric Vehicle Brands across the globe.
Avass has already proven its technology on the ground: commercial buses are already running with more than 800km range on a single charge and the car prototype R800 is already produced with a ground-breaking technology of producing 1160km within a single charge.
Richard Ryan
Hi there @shuaigerr
Jonah 🏅🎹 | Satoshi Club
While we anticipate his settling down to join us, can we proceed to community questions?
Richard Ryan
Before we proceed
So @shuaigerr has been busy attending conferences to promote Libcoin that is why he is with us right now watching the AMA. But for sure guys, we would love to see you on our telegram community https://t.me/libcoin_official
You know, it’s tough when you’re travelling to get a stable connection!
Yeah it is.
Richard Ryan
@Jonahapagu I can’t seem to be able to paste links here
Mary | Satoshi Club
Richard Ryan:
Social Media Platforms
Website: https://www.libcoin.net/
Telegram: https://t.me/libcoin_official
Twitter: https://twitter.com/Libcoin_token
Medium: https://medium.com/@libcoin_token
Instagram: https://instagram.com/libcoin_token
LinkedIn: https://www.linkedin.com/company/libcoin-token/?viewAsMember=true
Facebook: https://www.facebook.com/libcointoken
Jonah 🏅🎹 | Satoshi Club
Sorry about this, our bot is faulty
Mary | Satoshi Club
Richard Ryan:
Public Sale is Live
We are super excited to announce that Libcoin Token – $LIB’s public sale is now LIVE
Wanna get your yourself whitelisted?
Visit the link below
Spread the word: https://twitter.com/Libcoin_Token/status/1504006660364271624
—————————————————-
Sneak Peak: The LIB token applies state-of-the-art token design and offers a range of functionality and utility to token holders.
Social Media
| Medium | Telegram | Announcements | Twitter | Website |
| Instagram | LinkedIn | Facebook |
Richard Ryan
20% Discount on $LIB
This is not a drill, we repeat this is not a drill
Get an exclusive 20% discount on $LIB for 24 hours
When: 7th April
Where: On @BitMartExchange
More details will be shared soon.
Stay tuned
#Libcoin #BitMart #IEO #CryptoNews #CryptoIndia #GreenEnergy
Spread the word: https://twitter.com/Libcoin_Token/status/1505949886520430598?t=k5qDKlnV8R1MHlGgY4VgRQ&s=19
—————————————————-
Sneak Peak: The LIB token applies state-of-the-art token design and offers a range of functionality and utility to token holders.
Social Media
| Medium (https://medium.com/@libcoin_token) |
Telegram (https://t.me/libcoin_official) |
Announcements (https://t.me/libcoinnews) |
Twitter (https://twitter.com/LibcoinT?t=5Gv-eyEe3h6NEUK401qL_w&s=09) | Website (https://www.libcoin.net/) |
Instagram (https://instagram.com/libcoin_token?utm_medium=copy_link) |
LinkedIn (https://www.linkedin.com/company/libcoin-token/?viewAsMember=true) |
Facebook (https://www.facebook.com/libcointoken) |
Richard Ryan
20% Discount on $Lib
Mary | Satoshi Club
We are working on this issue, sorry for this
Nice discount
Richard Ryan
Let’s proceed to the telegram part!
Jonah 🏅🎹 | Satoshi Club
Here comes our first question
Jonah 🏅🎹 | Satoshi Club
Q1 from Telegram user @UncleStrange1
Gigafactory Nevada owned by Tesla and Panasonic is still only about 30% of the planned overall size and it recently produced it’s one millionth battery pack. They use the Lithium Ion packages. You aim to start a Gigafactory of Lithium-Ion batteries built in a consortium with relevant partners. Do you think your project can compete and replace Tesla’s batteries in the future? What are the unique features you plan to integrate to make this project the best? Would you consider partnering with other big battery companies in the future? Can you tell us more about your relevant partners?
You can try posting links now
Richard Ryan
The IEO will will start with a 24 hour ‘Launchpad’ period 10:00 AM EST 4/07/2022 where a group of privileged accounts will have the opportunity to buy a limited amount of LIB at a discounted USDT rate
Richard Ryan
Yes and our team are industry veterans and our partners know how to do this
We have a list of our official partnerships on our website libcoin.net
Mary | Satoshi Club
That’s awesome! Lucky guys
Richard Ryan
Really lucky
Avass is official, we use several auditors (we also have worked with Deloitte for instance), but we are committed to using a top-tier auditing firm for this size of project. We will use the technology from our partner Avass https://www.avass.com.au/ They’re one of the most advanced battery manufacturers in the world they are our battery technology partner.
Competitor wise, we are not worried because this market is moving so fast and Tesla has not entered India yet. We are building India’s FIRST giga factory and this was heavily needed considering India’s ambitious target to make the industry fully electric by 2030.
Remember over a billion people live there and they all want cars! Tesla will not be the only player who can meet that demand.
Ready for Question 2
Jonah 🏅🎹 | Satoshi Club
This is true, you have a great competitive advantage in India
Here comes the second question
Q2 from Telegram user @Cheriemike
I read that the green $LIB tokens will be accessed through Ethereum Blockchain technology and will later be converted to Ethereum w 0 in 2022.So can you tell us why it is decided that the $LIB tokens will be accessed through the Ethereum Blockchain considering the fact that the Ethereum gas fee is something that pissed off most investors?Will you later consider that the $LIB tokens be access through other Blockchains existing like a kind of cross-chain bridge?You also plan on adding an Initial Dex Offering (IDO) over Ethereum,so when will this plan be actualized?Please tell us the % cost of transaction fee with $LIB token.Thanks
Jonah 🏅🎹 | Satoshi Club
Vincent is typing
Vincent | Libcoin
Hey guys sorry I’m here to support! Sorry was attending a conference to support libcoin
Richard Ryan
Thanks and we are early to the market
Mary | Satoshi Club
Welcome here
Jonah 🏅🎹 | Satoshi Club
Welcome to Satoshi Club
Vincent | Libcoin
If you’re at ethdubai or Binance blockchain week send me a message and we can chat f2f
Mary | Satoshi Club
But may be you were thinking about some L2 solutions?
Richard Ryan
Hi Vincent! Yes definitely! Vincent has been working so hard to support and promote Libcoin all over the world!
Vincent | Libcoin
Sorry Richard I stole your thunder
Sure we are but we are a HOdL token because elf the nature of our investment so even thought he gas is high we don’t expect too much day trading. Hodl!
Richard Ryan
it’s alright Vincent, Welcome to Satoshi club
Mary | Satoshi Club
Gotcha
Richard Ryan
I’ll let Vincent continue the discussion with the community!
Mary | Satoshi Club
Thank you for your answers, guys! Ready to proceed?
Richard Ryan
It’s seems like Vincent’s connection is still a bit choppy
Let’s proceed to the next question
Jonah 🏅🎹 | Satoshi Club
Here comes it
Jonah 🏅🎹 | Satoshi Club
Q3 from Telegram user @MudaraSilva
As 25% of any profits from the battery business are converted into $LIB annually, your circulating supply will gradually increase. Then how do you generate scarcity to maintain the value of the coin? What is the reason to add your profits to the token supply? What type of benefits does the project get from this decision? If the battery business faces any losses, do you cover them by converting $LIB to the funds allocated for the business?
Richard Ryan
25% of net profits from the initial giga factory will be used to buy and burn $LIB from the market.
This will be guaranteed by a top auditing firm like KPMG.
These factories will have cash flows for years and years to come so $LIB will consistently rise in price and it gets increasingly scarce. Its depreciatory
Richard Ryan
It will obviously take some time before it can make revenue and profit that’s why $LIB is at such a discount today compared to the expected future cash flows.
You need to hedge against the inflation, the risk of a meteor hitting the earth, you name it haha but timelines should by between 12–24 months when it sees initial operations.
So once you buy it at a huge discount when we go live in April 7 on Bitmart…
Richard Ryan
Next question
Mary | Satoshi Club
Sure! @Jonahapagu
Jonah 🏅🎹 | Satoshi Club
Q4 From Telegram User @Modrumz120
I interestingly read from your website that libcoin will be the first crypto asset that offers potential holders exposure to investments and rewards in the booming battery technology industry. How can a person who’s new to the crypto space become a holder of the $libcoin token and also what are the requirements needed for such individuals to be a user/member of the libcoin platform? Lastly, what are other rewards to be given to the holders of the $LIBCOIN token in the Libcoin platform? Thanks.
Richard Ryan
We will build a strong community and have a great team in place to make this a reality. Start by joining our telegram. Then ensure you participate in our whitelist sale (go to our website to find out how).
We will build out our governance function in 2022 so we will create token gated channels and that’s where we will provide exclusive updates and governance votes. The jury is still out on the tooling, perhaps discord or snapshot and we want your input so please be part of our telegram.
Other rewards next to ROI of the asset and governance power will be announced soon! We have many big partner announcements to disclose soon. And each partner we always ask’what can you offer libcoin holders?’ Think energy, but also mobility, trading and sports!
Richard Ryan
Next Question
Mary | Satoshi Club
What kind of proposals will your community will be able to make?
Jonah 🏅🎹 | Satoshi Club
Go join Satoshiclubbers and don’t forget the whitelist as well
Richard Ryan
it’s for the community to find out this 2022
don’t forget to join our tg ann and community
Mary | Satoshi Club
Thank you!
Mary | Satoshi Club
Let’s go to the next question
Jonah 🏅🎹 | Satoshi Club
Q5 from Telegram User @Rozielyna
I read from an article of yours that Libcoin is officially an asset on Ethereum product chain with a fixed supply of 500 million tokens, is set for a 2-stage rollout Which is the Buyback stage and the Remaining tokens are for the second stage comprising of three variables ( Staking, cashback and governance) can you please share more details on these two stages and their variables ? What are the benefits/ Incentives attached with this stages? What are your reward systems for staking $Libcoin token?
Richard Ryan
Stage 1 — Buyback
After an initial exchange offering, where up to 15% of available tokens are offered on one or more crypto exchanges, Libcoin plans to invest funds raised in a lithium-ion battery Gigafactory in India. If and when the venture becomes profitable, 25% of profits are to be set aside for the repurchase of LIB tokens, and then burned (shelved indefinitely ) ). The model seeks to tie investment in the tokens directly to green investment as the buyback and burn program works in a similar way to corporate share buyback plans, which drive up price by removing supply from the market.
Stage 2 — Staking, cashback and governance
Remaining tokens are to be put aside for the second stage in the rollout comprised of three variables.
The first variable, staking, allows for the provision of additional tokens to stakeholders who enter an agreement not to sell their original tokens for a specified period of time. Next, Libcoin plans to partner with other sustainable businesses, such as EV manufacturers and sellers. Tokens may be offered to their customers as an extra sales incentive, which in turn creates an incentive for companies to partner up with Libcoin.
Finally, much like company shares with voting rights attached, token holders will receive veto and discount rights on new projects. Holders who participate in governance may possibly earn new tokens for their efforts.
Richard Ryan
LIB token’s function is designed to create a positive feedback loop making way for holders to actively and in a meaningful way contribute to the development and success of green energy.
This is accomplished when they are active in polling events and by taking part in decisions put to a vote. Good governance leads to more sales, leading to more profits, leading to the burning of tokens, leading to the decrease in supply and consequently the more value represented by remaining tokens.
Richard Ryan
The allocation of ongoing rewards continually feeds this process. Developers expect that over time that rewarding active investors, token owners that are most active will end up accumulating the greatest share of tokens in comparison with inactive holders.
How cool is that?
Mary | Satoshi Club
Where users will be able to stake their tokens? On exchanges or directly on your website?
Mary | Satoshi Club
It’s really cool
Richard Ryan
Next question
Jonah 🏅🎹 | Satoshi Club
by the way with regards to this for how long will users be required to not sell?
Here come the last question for this part
Q6 from Telegram User @Ritshimwa
I saw little information on Libcoin Foundation. Can you explain more on the LIbcoin Foundation? What are the roles and function of this foundations? Can individuals register to become part of the Libcoin foundation? Can you share on some of the benefits users who belong to Libcoin foundation receive? You also mentioned customers receive LIB token when buyin from partners, can an individual become a partner to Libcoin? What are some of the rewards for Libcoin partners?
Vincent | Libcoin
We are discussing with some CEXs and defi protocols to allow staking. Please join our community and provide input on what is best for you. We want lib to be a long term hold so absolutely considering a staking solution
Vincent | Libcoin
(Apologies for the late reply)
Jonah 🏅🎹 | Satoshi Club
No p
Richard Ryan
This is a good question! Those who acquire Libcoin will contribute funds to Libcoin. The Libcoin foundation will earmarked $15m in 2022 to invest into projects being created by partners such as a battery giga factory. Libcoin will be entitled to 25% of these project profits and they will use these to burn LIB token.
Richard Ryan
This results in a depreciatory pressure on the token increasing the price over time. That incentivizes the community, you guys, to buy early and that will help Libcoin partners kick off the projects. Win-Win.
In phase 2, we will introduce a rewards ecosystem with our partners. More details will be revealed in 2022. For instance, token holders can stake and will be empowered by giving them voting decisions to mint new tokens. Those being active in polls and governance decisions will be rewarded.
Key thing to remember though is that potentially millions will be used to burn $LIB every year. So buy early before the price is too high like other green depreciatory tokens like KLIMADAO which is already in the thousands.
Richard Ryan
Let’s Proceed
Mary | Satoshi Club
Thank you, guys!
We came close to the live part now!
Mary | Satoshi Club
Ready to start?
Richard Ryan
Yeah
Mary | Satoshi Club
Let’s go
Part 2 — live questions from the Telegram community
Q1 from Telegram user @Karoceh
You mentioned Libcoin have already sold $2+m in private sales, which is excellent. But have you anticipated the possibility of a massive sale after the public sale? What is your plan to encourage $LIB buyers to keep their $LIB?
Vincent | Libcoin
We will build staking incentives and the price will appreciate with increased roi so buy early
Q2 from Telegram user @coinerman
Smart Contracts’ security is considered one of the biggest issues for every project. Can we be sure that your smart contract is completely secure? How do you ensure that user funds are protected so that users/investors feel 100% safe?
Vincent | Libcoin
We are audited by certik the best audit company
Q3 from Telegram user @NAZMP2
What are the benefits of long-term holding of the $LIB token?
Vincent | Libcoin
Increased ROI!! Profits are returned every year and they will increase
Q4 from Telegram user @uncrowned_king_007
Have you guys thought of launching your own app? Or do you already have an app?
Vincent | Libcoin
Not yet great idea an you suggest it in the community?
Q5 from Telegram user @BrayantGonzalez
Could you really explain to us what is the ultimate goal of Libcoin? Is it simply to create multiple Gigafactorys of lithium ion batteries in order to promote the consumption of first-class green energy and thus protect our environment much more?
Vincent | Libcoin
To support government renewable energy goals. Like Indias ambitious 2030 ambition
Q6 from Telegram user @Sitaw25
How does a newcomer to cryptocurrency be a libcoin token holder? Furthermore, what are the qualifications for such people to be libcoin users or members?
Vincent | Libcoin
Make an account on bitmart and participate in our whitelist event
Q7 from Telegram user @duvtdtiuu
Is your project is only for elite investors, how about others with small funds, is it open to everyone?
Vincent | Libcoin
The whole point of libcoin is to democratize investments previously reserved for institutional big shots
Q8 from Telegram user @KASG95
You point out that Libcoin will be Backed by battery technology, but could you really detail what you mean by this “battery technology”? Will it be different from blockchain technology? And what benefits does it offer?
Vincent | Libcoin
Real world assets. Real world investments back libcoins price
Q9 from Telegram user আজ হলো পবিত্র শবে বরাতের রাত
Do you have a whitepaper? If yes, please share it with us.
Secondly, Do you have plans for pre-sale? Now where can I join it???Vincent | Libcoin
Check our website libcoin.net
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.
For more information and future AMAs, join our Social Media channels:
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Our partners:
Website: https://www.libcoin.net/
Twitter: https://twitter.com/Libcoin_token
Medium: https://medium.com/@libcoin_token
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