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 MilestoneBased and our guest was. The AMA took place on the 13th of 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&WebSite
Jonah 🏅🎹 | Satoshi Club:
Hello Satoshiclubers welcome Again to another AMA session, this time we will be having our guests from MilestoneBased
Jonah 🏅🎹 | Satoshi Club:
@ISava777 and @Iamkaravanets welcome to Satoshi club
Ihor | CEO milestoneBased:
hey guys!
Ihor | CEO milestoneBased:
pleasure to be here!
Pavel P:
@ISava777
@Iamkaravanets .Welcome guys to Satoshi Club!
Pavel P:
And we are happy to see you here today!
Jonah 🏅🎹 | Satoshi Club:
We are glad to have you here..
Jonah 🏅🎹 | Satoshi Club:
How are you doing today?
Ihor | CEO milestoneBased:
I’m doing amazing!
Ihor | CEO milestoneBased:
In Dubai atm
Jonah 🏅🎹 | Satoshi Club:
Great.. I can see you are excited for today’s AMA
Ihor | CEO milestoneBased:
how about you?
Jonah 🏅🎹 | Satoshi Club:
Oh wow that’s cool
Jonah 🏅🎹 | Satoshi Club:
I’m In Nigeria..
Pavel P:
Lucky to meet December there, I guess
Sergio Karavanets:
Hi everyone! Good to be here! I am stuck in the traffic because of snow. I hope to be with you soon!
Pavel P:
So, Sergio is surely not in Dubai
Jonah 🏅🎹 | Satoshi Club:
No problem we hope to have you joins us when you are fully ready to
Jonah 🏅🎹 | Satoshi Club:
Yeah..
Jonah 🏅🎹 | Satoshi Club:
So let’s start our AMA
Ihor | CEO milestoneBased:
yeeeeeay!
Jonah 🏅🎹 | Satoshi Club:
Can you introduce yourself to us, how you got into crypto and How MilestoneBased came to be?
Ihor | CEO milestoneBased:
of course, I will record the video message
Sergio Karavanets:
I will help with what I can in the meantime. Make sure you follow our social handles and website to stay updated on the token launch
Web-site: milestoneBased.com (https://bit.ly/3xHQA1F)
Twitter: (https://bit.ly/3I9irww) milestoneBased (https://bit.ly/3xEPROC)
Telegram: (https://bit.ly/3I9irww) milestoneBased (https://bit.ly/3I9irww)
Pavel P:
Great! Satoshiclubbers, please note the useful links
Jonah 🏅🎹 | Satoshi Club:
Thank you for sharing
Pavel P:
So, how many people are there in the team? All of them based in Ukraine?
Ihor | CEO milestoneBased:
right now there are 29 peopple in our slack channel
Ihor | CEO milestoneBased:
the core team is on the website, but we also have a full dev team
Jonah 🏅🎹 | Satoshi Club:
You were right from the start..
Pavel P:
Wow! That’s huge for a crypto project!
Jonah 🏅🎹 | Satoshi Club:
You indeed have a Great Background
Ihor | CEO milestoneBased:
we are backed by Applicature and Ferrum Network
Ihor | CEO milestoneBased:
Still a lot of things to learn though!
Jonah 🏅🎹 | Satoshi Club:
So can you tell us what MilestoneBased is all about, and it’s unique features?
Jonah 🏅🎹 | Satoshi Club:
Yeah… This is an everlong process.. new things to learn everyday..
Ihor | CEO milestoneBased:
of course
Ihor | CEO milestoneBased:
MilestoneBased is all about the sustainable financing Based on the milestones achieved
Ihor | CEO milestoneBased:
Effectively this is a combination of friendly UI with an escrow smart contract
Ihor | CEO milestoneBased:
this combination allows to manage the project’s roadmap and milestones and distribute funding in a way which is secure for everyone participating
Jonah 🏅🎹 | Satoshi Club:
Oh now I see where the name comes from..
Ihor | CEO milestoneBased:
The world we want to create is the one where investors sleep safely and projects’ founders can find inexpensive capital through clearly identifying their plans
Ihor | CEO milestoneBased:
And milestoneBased is a place where they all meet
Jonah 🏅🎹 | Satoshi Club:
I’m sure everyone in this space wants that..
Pavel P:
That’s a great attitude!
Ihor | CEO milestoneBased:
So the ideal scenario is this:
- Project creates a roadmap on milestoneBased
- Projects raises funds through our partner launchpad
- When the pools are closed, and the raise is concluded, funds are transferred on to the projecct’s roadmap on our escrow smart contract
- No one has direct access to that contract, not us, not investors, not the community or the project
- Investors receive the project tokens
- Token holders then use their token balance to execute governance over the project’s roadmap on milestoneBased
Jonah 🏅🎹 | Satoshi Club:
This is super impressive
Jonah 🏅🎹 | Satoshi Club:
Thank you for the introduction..
Jonah 🏅🎹 | Satoshi Club:
We’ve selected some few questions from our community members ready for them?
Ihor | CEO milestoneBased:
absolutely!
Pavel P:
Q1 from Telegram User @ProwGrowl
As far as I understand, Milestone Based plans to make the process of evaluation 100% automatic to predict future behaviours. This will help investors gain new insights to make correct decisions. This will also help VCs understand the levers of growth performance for reaching monetization faster. In order to guarantee the growth of MB reputation this automatic mechanism must always produce correct decisions. Do you really think it is possible in crypto world where there’s no guarantee on anything? What responsibility will MB keep if the mechanism is not as effective as expected?
Ihor | CEO milestoneBased:
Our long-term plans imply usage of AI/ML for data driven investment decisions. This will be in a couple of years for now. Investors will be able to make decision based on the yeears of previous progress made by a certain project.
Ihor | CEO milestoneBased:
This process doesn’t necessarily have to be automatic.
Ihor | CEO milestoneBased:
If our customers and partners ask us to make it automatic, then we will make it that way.
Pavel P:
So, here the background comes to be decisive, right?
Ihor | CEO milestoneBased:
And in order to make the mechanism effective, we first do internal testing on our own project with “fake” tokens. Then when we will open close Beta and grow susstainably step by step.
Jonah 🏅🎹 | Satoshi Club:
Do you have an Active governance system to include your community members in such decisions?
Ihor | CEO milestoneBased:
I didn’t get this though, can you clarify?
Ihor | CEO milestoneBased:
Absolutely! community is the centre of the project!
Jonah 🏅🎹 | Satoshi Club:
Sure.. great decision btw
Pavel P:
If Investors will be able to make decision based on the years of previous progress made by a certain project, the base should be on the project’s history then. How successful it has been so far etc. Correct?
Ihor | CEO milestoneBased:
Thank you. We will be able to understand that fully 1 year from now. But this is strategic move.
Ihor | CEO milestoneBased:
You are correct. RIght now it is not realized, cause we have more prioritized development items.
But this is for you to understand, that we are here for the long run.
Jonah 🏅🎹 | Satoshi Club:
Who are your current partners can you share some names with us??
Sergio Karavanets:
Hey! So I’ve made it
Ihor | CEO milestoneBased:
- Applicature
- Ferrum network
- Zokyo
- Supercolony
- Skyvision capital
- Kaishi
Jonah 🏅🎹 | Satoshi Club:
Great you came just on time…
Ihor | CEO milestoneBased:
heyaaaaa!
Jonah 🏅🎹 | Satoshi Club:
Thank you for your great answer
Sergio Karavanets:
I see you guys are having a good time
Ihor | CEO milestoneBased:
And we have like 30 partner projects that want to utilize it
Ihor | CEO milestoneBased:
meaning milestoneBased
Jonah 🏅🎹 | Satoshi Club:
Ready to take on the next question ?
Ihor | CEO milestoneBased:
bring it on.
Pavel P:
Q2 from Telegram User @Anne_Tim
Milestone Based calls itself to be the first company to leverage a blockchain DAO (Decentralized Autonomous Organization) and smart contract escrow capabilities, in an automated governance and milestone achievement management platform. MB helps startup teams be more motivated and focused for strengthened performance. Please talk more about the process of evaluation and acceptance of your customers (startups). Should it be a startup in any particular sphere of crypto? Have you already negotiated with any startup and explain what exactly you did to help them? Thanks!
Pavel P:
I think, you have already covered it partially
Sergio Karavanets:
Let me take this one
Sergio Karavanets:
At the later stage we won’t really filter projects. It’s a community driven platform that is why we develop DAO functionality and multiple voting strategies. Currently we have signed around 30 Memorandums of Understanding with companies who are willing to utilize the platform given to different needs like governance, escrow, roadmap management etc.
Pavel P:
That’s clear enough! Let’s move forward to the question nr 3
Sergio Karavanets:
sure
Pavel P:
Q3 from Telegram User @MudaraSilva
It caught my attention that Escrow Protection is enabled on your platform. Thank you for paying attention to the security of our funds. Although I am familiar with the Escrow concept, I wish to know whether you have introduced any unique features when you use it on the platform. What type of KYC documents do you request from users? Although the Escrow is a great method to ensure the security, we cannot determine a platform as 100% secure just based on the availability of that feature. Thus, please explain what are the additional security features and how do you intervene to recover the funds of the investors if the platform faces any issues.
Ihor | CEO milestoneBased:
Let me take this one.
First, in terms of the security, we implement these actions.
- Zokyo audit already finished.
- We will do 1-2 more audits.
- We also plan penetration testing.
Secondly, because we understand that there will be big amounts of money on that escrow smart contract we chose the step by step approach.
- We internally test it with “fake” money.
- When that is done, we will test it on our own project.
- We take 5 partners into closed BETA.
- Then we will take more customers.
As per the KYC, it is not required – since we are not Custodians, and the money are not raised on the platform. They are raised outside.
We are always opened to more advice if you have some =)
Jonah 🏅🎹 | Satoshi Club:
Great to see how serious you are about the security of users funds
Pavel P:
Responsible approach to security and openness to community!
Jonah 🏅🎹 | Satoshi Club:
Will the penetration testing be carried out by your team?
Ihor | CEO milestoneBased:
yeah, well we are all public
Ihor | CEO milestoneBased:
Partners
Jonah 🏅🎹 | Satoshi Club:
Great I’m sure you have good hands that will do a Good job in this regard
Jonah 🏅🎹 | Satoshi Club:
Let’s proceed to the next question
Pavel P:
Q4 from Telegram User @Ajpaa
People who invest in Projects through milestoneBased’s platform will enjoy special safety of funds and also benefit from data-driven insights. Also recently milestoneBased and GOinfluencer signed an MOU focused on revamping the crypto investing model utilizing AI and machine learning. So what special mechanism have you implemented to ensure safety of investors funds? How would your data analytics and machine learning functionality benefit investors and what kind of insight would it grant them? Lastly can you elaborate on the importance this MOU with GOinfluencer to both your ecosystem and users generally and how utilizing AI and machine learning will revamp crypto investing model? Thank you.
Sergio Karavanets:
Ofcourse! That’s of the advatnage to be incubated by Applicature. Huge network of experienced guys
Jonah 🏅🎹 | Satoshi Club:
Great partnership gives birth to great products..
Sergio Karavanets:
let me take this one
Sergio Karavanets:
So we envision that having enormous amount of projects data (based on the roadmap/milestone management) allows us to constantly train our machine learning algorythm that eventually will predict projects behaviours and possible scenarious.
Eventually the team will not need to raise funds as system will know when the next round will be required based on the plan, performance, burn rate etc. Such approach will make founders purely focus on A) performance on building relations between project and investors.
Sergio Karavanets:
Imagine the world with inexpensive and efficient capital. The world where CEOs and founders focus on the transparent management of their companies instead of constant chase for funding. The world with infinite liquidity where companies get funded based on their past performance and predictive analytics. Imagine that the funding process is based not on the relations and parties thrown, but it’s automated and designed based on an AI machine learning algorithm that knows just fair data points.
Jonah 🏅🎹 | Satoshi Club:
Where do you get the data set for pre-training your Algorithm?
Sergio Karavanets:
AI milestone is not yet in the place. It’s further down the road. Let us release the platform first
Jonah 🏅🎹 | Satoshi Club:
Sure… I’m impressed so far with your solutions
Sergio Karavanets:
Sometimes I cannot believe myself we are doing this
Pavel P:
And we are eager to see it too!
Sergio Karavanets:
oh, wanted to share our socials but this cold cold bot deleted my message =(
Jonah 🏅🎹 | Satoshi Club:
The model is Unique.. most project teams focus all their attention on getting funds.. changing this narrative for good is a great idea
Jonah 🏅🎹 | Satoshi Club:
Sorry about that.. we had an Issue with the bot earlier on . But it’s fixed now
Sergio Karavanets:
Exactly! That’s why we are soooo happy we don’t raise funds
Jonah 🏅🎹 | Satoshi Club:
Go ahead and share
Sergio Karavanets:
Not sure if you covered this but we have our invstement fund Mempool.ventures. This is how we can maintain such a huge team and can focus on doing things
Jonah 🏅🎹 | Satoshi Club:
Thank you for your answers..
Jonah 🏅🎹 | Satoshi Club:
Next question is here..
Pavel P:
Q5 from Telegram User @ItsMelissa3
In the MilestoneBased roadmap for Q1 2022 I read that you plan to carry out the IDO Launch and DEX listings. Two very important events that the community is very excited about. Do you already know in which month of the first quarter the IDO will take place? Will it be in January, February or March? What details can you share with us in advance? How much will the token allocation be for the IDO? As for the DEX listings, have you already thought about which DEX you will list the token first?
Jonah 🏅🎹 | Satoshi Club:
Before answering you can go ahead and share your links..
Sergio Karavanets:
Arigato!
Make sure you follow our social handles and website to stay updated on the token launch
Web-site: milestoneBased.com (https://bit.ly/3xHQA1F)
Twitter: (https://bit.ly/3I9irww) milestoneBased (https://bit.ly/3xEPROC)
Telegram: (https://bit.ly/3I9irww) milestoneBased (https://bit.ly/3I9irww)
Jonah 🏅🎹 | Satoshi Club:
Satoshiclubers let’s go..
Sergio Karavanets:
I encourage you guys to subscribe to our socials and fill in the submission form on the web-site in order not to miss the token launch.
Token launch is planned for Q1 2022. Most likely it’s end of february. The IDO/ICO startegy is still in the stealth mode. However we can already uncover the token launch details which is called Power Luanch. It’s inspired by Fair Launch, but adjusted to our vision of it.
So basically no private/public presale. No artificial price split. All are even and the power to decide the token price is purely in the hands of community. So no selling pressure and dumps after the launch. The Manifesto will be released later this week. Stay tuned =)
Jonah 🏅🎹 | Satoshi Club::
Is there a link to the submission form you can share for easy click..
Sergio Karavanets:
milestonebased.com sir
Jonah 🏅🎹 | Satoshi Club:
This is the place to go to satochiclubbers
Jonah 🏅🎹 | Satoshi Club:
Can’t wait to see the Manifesto
Jonah 🏅🎹 | Satoshi Club:
Thank you for your Great Answers..
Jonah 🏅🎹 | Satoshi Club:
Are you ready to proceed to the Last Question for this part?
Sergio Karavanets:
yo
Pavel P:
Q6 from Telegram User @DK177
According to your roadmap, you have plans to create dedicated knowledge sharing hubs in 2022. Can you give a sneak peek of this event? What type of knowledge you are going to share? What are the resources you are going to use? Since you have used the term “knowledge sharing”, I am curious to know whether this will be an interaction among users of MilestoneBased. Do experienced users have to share their knowledge with newbies? Do you offer any rewards for that task? To join these hubs, are their any prerequisites such as holding a certain amount of tokens? Further, how do these knowledge sharing hubs will be beneficial for the development of the platform?
Sergio Karavanets:
@ISava777 oh mister I know you have what to say
Ihor | CEO milestoneBased:
Sure!
I will give you an example.
Jonah 🏅🎹 | Satoshi Club:
Great we love examples..
Ihor | CEO milestoneBased:
Token utility implies tiered based access to different features. Hubs included.
But yeah, say you are a project. And you created the roadmap, which worked really well for you. This roadmap can be part of the hub. And when someone uses the same roadmap for their project, you receive rewards in our Token.
And this is just one example, there can be accesses to VCs, partners, analytical data and more resources. All that is to help projects grow!
Jonah 🏅🎹 | Satoshi Club:
So this way projects can earn when their ideas are used
Ihor | CEO milestoneBased:
Exactly!
Jonah 🏅🎹 | Satoshi Club:
Thank you for your Answers…
Jonah 🏅🎹 | Satoshi Club:
We will now proceed to the second part of our AMA…. Our members already have their hands on their keyboards I can hear heavy sounds .
Ihor | CEO milestoneBased:
Thank you for the questions!
Ihor | CEO milestoneBased:
bring it on
Jonah 🏅🎹 | Satoshi Club:
They are all eager to ask you their questions directly..
Pavel P:
Get ready to the storm!
Jonah 🏅🎹 | Satoshi Club:
Opening chat for just 120 seconds after which you will select 10 questions to answer..
Pavel P:
Please wait till the chat is closed before answering
Jonah 🏅🎹 | Satoshi Club:
Opening chat now
Part 2 — live questions from the Telegram community
Q1 from Telegram user @highpee:
You intend to embark on BETA TESTING which will be based on INVITE ONLY MODE. Who are those that will be privileged to join testing? Are there anything an interested user can do to qualify for an invite in order to reap some early adopter benefits?
Ihor | CEO milestoneBased:
Yes, that is our plan because we need to make sure everything is safe. The best thing you can do is approach us with your project and sign MoU, identifying your intent to use mB. Also make sure to fill in the form on the website. There will be a queue, so the earlier the MoU is signed, the earlier you can start using the platform.We do it this way coming from the security standpoint.
Q2 from Telegram user @Silica432:
In your Website I Read about the DIGITAL SIGNATURE VOTING PLATFORM, Can you please talk more about this Voting Platform and What is the Main Role of this Platform in the Ecosystem ?
Sergio Karavanets:
So yes: digital signature voting platform envision community investor who holds certain amount of project token to be able to participate in the voting and impact the decision of the certain milestones; changes; requests etc. Amount of token hold is the voting power eventually;
Q3 from Telegram user @hansoyeon:
Is MilestoneBased just a “commission” to generate revenue? Could you please explain how your project generates income or its income model?
Ihor | CEO milestoneBased:
Our two main revenue streams are:
- Commission. Which by the way can be 40% discounted if paid in our token.
- Yield generation using the funds that are on escrow.
More revenue streams will be introduced later
Q4 from Telegram user @Alexajuba:
Can You Provide more details on your Token Economics?
How milestone based plans to Provide incentives and Benefits to Holders?
Sergio Karavanets:
So please get yourself acquainted with the tokenomics. As of tokne utility we are finzaizing it as we speak. The incentives to hold milestoneBased token is token staking programs; liquidity staking programs and additional platform utility features we will present later on.
Q5 from Telegram user @Nhairym:
In a previous AMA session they mentioned that the blockchain functionality could not yet be verified, because they were going through an internal testing phase, what is the current status of that or procedure, please tell us according to your roadmap What are your plans and so far what have been your goals achieved and milestones resolved, do you have an event scheduled to close 2021 or start 2022, considering that your platform is under development since 2018, how would you rate its evolution and permanence in the market?
Ihor | CEO milestoneBased:
Good catch. Yes, it is in internal testing right now with “fake” money. We plan to finish this stage by the end of the year, so that we can start closed Beta in January.
We’ve been developing this since 2018 indeed. Although, we had to take pauses sometimes during the crypto winter, because of lack of funds. But we alwys knew that milestoneBased would be a fundamental crypto project, cause it will draw a clear line between scams and decent projects. We’ve closed 30 partnerships, registered the entity, started marketing and left stealth pretty much.
Next is to launch the token and capture the market share. Which is what we have 2022 for
Q6 from Telegram user @cenkkargin0666:
What criteria must the project meet in order for MB to help a startup project? How does MB go about distinguishing whether a project is real or a scam?
Ihor | CEO milestoneBased:
Think about it. The scammer would never use mB, because he cannot run away with cash because the funds are on escrow smart contract
Q7 from Telegram user @smelekin:
Do you work with any of the influencers to promote your project?
Sergio Karavanets:
Yes we do. Our marketing activites include influencers, PR, AMAs, content marketing and certain creative avenues we will be releaseing soon
Q8 from Telegram user @victorogb:
Since the power Launch registration is open to the public, with each investor expected to specify how much they would contribute to this Launch, how would mB ensure this process is transparent, is there a set minimum that can be contributed by a single wallet?
Ihor | CEO milestoneBased:
There is no minimum. We don’t have private sale or seed sale. The token will be listed straight on the DEX, so anyone who wants can go ahead and buy.
Q9 from Telegram user @Orlemys:
You’ve recently released your Roadmap for 7 years, this is really interesting, would you tell us what are the main points to take away from it and what are the biggest milestones you hope to reach? Can you still add or take away from the roadmap? Will it be updated accordingly?
Ihor | CEO milestoneBased:
Absolutely, our roadmap is constantly being revisited. We cannot set it in stone, because market is extremely dynamic.
Q10 from Telegram user @Ajpaa:
How does your roadmap design tool work to provide milestone management and what are the features of this tool?
Ihor | CEO milestoneBased:
Actually, you can already create the roadmap on the platform
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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Twitter: https://twitter.com/realsatoshiclub/
Website: https://esatoshi.club/
Our partners:
Telegram –https://t.me/milestoneBased
Medium –https://milestonebased.medium.com/
WebSite – https://milestonebased.com/
Twitter-https://twitter.com/MilestoneBased