O3 Labs x Satoshi Club AMA Recap from 20th of April

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 O3 Labs and our guest was @TimO3WALLET. The AMA took place on 20 April.

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

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

Part 1 — introduction and questions from the Telegram community

Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with O3 Labs! Welcome to Satoshi Club😀

D. | Satoshi Club: today our guest – @TimO3WALLET !

welcome to Satoshi club!

Tim | O3: Hi, thanks for having me~

D. | Satoshi Club: thank you for joining us! how are you doing? 😊

Tim | O3: nice to meet you guys here:)

Mary | Satoshi Club: Welcome here 😀

Tim | O3: I’m doing well:)

Mary | Satoshi Club: Let’s start our AMA 😀

Tim | O3: I’m ready 🙂

Mary | Satoshi Club: Tim, could you please introduce yourself and tell us more about O3 Labs😀

Tim | O3: Okay, This is Tim from O3 Labs. I am responsible to the O3 Swap design with all our outstanding teammate. Before joining the O3 Labs, I completed my master degree in Netherlands and has been a project manager in a consultant company based in Hong Kong. Glad to e-meet you guys here and share our product with you.

Let me introduce O3 Labs

Mary | Satoshi Club: Sure!

Tim | O3: O3 Labs was established in Tokyo in 2017 and is one of the early crypto wallet development teams in the world. At present, our team members are from nearly every continent. O3 Labs has been focusing on providing professional crypto asset management tools and services. Currently, we have provided wallet services for 100,000+ users in over 40 countries worldwide, with an O3 community of over 20,000 people in Japan, Europe, USA, Russia, Korea and China.

done

Mary | Satoshi Club: Wow, a lot of achievements! Actually, i still don’t have your wallet, but i tried your swap today😀

As i know you’re testing it, with some limits for swap😉

Tim | O3: yap 🙂 we are releasing the testing version for now, https://o3swap.com/

and will release the testing activity detail soon

D. | Satoshi Club: but people already can swap a small amount there?

Mary | Satoshi Club: I like it, hope after testing we will be able to use all it’s features!

Tim | O3: yes, just simply connect with your Metamask

we currently support four chains swap, ETH, BSC, HECO, and NEO

D. | Satoshi Club: [ 👍 Sticker ]

Mary | Satoshi Club: I don’t remember if i saw a swap which supports so many chains at the same time! Hope to see launch soon!

But to be honest I didn’t risk to exchange something using Ethereum network today😂

Thank you, Tim!

Tim | O3:although the full function is not available yet, we already hold some activities, you can see this for airdrop opportunity. https://twitter.com/O3_Labs/status/1381233292599459842?s=20

Mary | Satoshi Club: Prizes will be in your O3 tokens?😀

Tim | O3: we are also going to release more campaigns to get the rewards 😉

yes, O3 token will be launch in May:)

D. | Satoshi Club: uhhh very soon 😇

Mary | Satoshi Club: Wow, it’s near! We will definitely participate in your activities!

We will follow your updates, but please, don’t forget to share with us 😀

It was a great intro, Tim! Do you want to go to the questions from our community 😉 or you want to add something?

Tim | O3: for sure, we will release another activity this week for product testing:)

Mary | Satoshi Club: We are yours😂

Tim | O3: you can follow our Twitter for the latest product news👀https://twitter.com/O3_Labs

D. | Satoshi Club: done ✅

Mary | Satoshi Club: Done! Satoshiclubbers, join🚀

Tim | O3: and join our community 😂https://t.me/O3LabsOfficial

welcome to everyone!

D. | Satoshi Club: thank you for the great intro! and now we are opening the first part of AMA! 🥳🚀

Q1 from Telegram user @victorogb

O3 Swap, the proprietary cross-chain aggregator of O3 labs is built using a four-layer structure to ensure the integrity and symmetry of the information in the liquid market. Can you carefully outline these four distinct layer structures, how do they effectively combine to give investors a safe and efficient trading environment and how does the system aggregate in real-time the best trading rates and data for investors and users alike?

Tim | O3: okay I will answer this question for two parts

part1: we use 4 layers in our swap structure

Mary | Satoshi Club: As i see you are planning to add Polkadot also😀

Tim | O3: 1. Network Layer: As the basis of the O3 Swap cross-chain protocol, we will aggregate high-quality public chains and ecological chain systems in the market. This includes Ethereum, Binance Smart Chain, Neo, Huobi ECO Chain so far, and creditworthy layer 2 projects, to provide cross-chain trading.

2. Market Liquidity: The aggregation of different liquidity sources through O3 Swap, allows the platform to identify and recommend the best exchange quote for users.

3. Settlement Layer: Based on the private key signature authorization, the transaction settlement is completed through the smart contract. Additionally, cross-chain protocols and cross-chain pools will help users complete cross-chain asset exchanges and settlements.

4. Application Layer: Provide developers with a complete service API to integrate into different applications, and providing users with a convenient and user-friendly operating platform.

the intro of the 4 layers

Part2: O3 Aggregators are deployed on mainstream blockchains and help users find the most effective trading rates and routes in the corresponding network. The aggregation of different liquidity sources through O3 Swap, allows the platform to identify and recommend the best exchange quote for users.

That is why we can provide the best trading price and route for users:)

done

Mary | Satoshi Club: I used a lot of aggregators and want to tell, that prices differ on each of them😀 hope you will find the best for us!

Also, i want to ask

\Quote includes 0.3% O3Swap fee – is this fee for testing phase or it will stay the same after launch?

D. | Satoshi Club: and each crypto aggregator says that they have the best prices on market 👀😄😉

Mary | Satoshi Club: 😀

Tim | O3: 0.3% trading fee is used to buy back the O3 in open market and redistribute to the O3 staker and dev team to maintain the system:)

Mary | Satoshi Club: Got it!

Thank you for your answers! Ready to proceed?

Tim | O3: ya let’s move on

Q2 from Telegram user @cryptofollower

O3 Labs was established in Tokyo in 2017. From that time it has been 4 years. And when I check you roadmap you have come from a long way but defi is evolving very fast too. O3 native token is not released yet, do you think O3 is a little bit slow to catch that speed? What milestones have you been through till this time and when will you launch the exchange with fully functioning?

Tim | O3: There are three milestones in the development history of O3 Labs. First, the release of the Neo light wallet — O3 wallet in Tokyo in 2017 and supported Ontology lately. Second, the support of fiat currencies (USD, Euro) and credit cards to purchase cryptocurrencies (including BTC, NEO, ETH). Last but not least, as a multi-asset wallet to support mainstream assets, such as Bitcoin, Ethereum, Neo, Ontology, Polkadot, Binance Smart Chain, and Huobi ECO Chain, and integrate dAPI of high-quality DeFi projects such as Flamingo, Uniswap, Compound, 1inch, DODO

for the full function of O3 Swap. At present, our official website is online and supports product testing. Litepaper V1 is also online. More detailed product information can be found in this link https://docs.o3swap. com/.

The Beta version of cross-chain transactions will also be launched at the end of this month. First, it will support cross-chain exchange of assets on Neo, Ethereum, BSC, and Heco. In the next step, the O3 token and economic model will be released, and transaction mining and other community incentives will be initiated. In Q4 this year, we plan to complete the deployment of Layer2 network.

Mary | Satoshi Club: As i see you support fiat😀 do your users need to complete KYC verification to use fiat payments?

D. | Satoshi Club: i see O3 Swap not allows me to add liquidity on your site, at the current moment, when this function will be available, and what will be the benefits for liquidity providers?

Tim | O3: no, we cooperate with Moonpay. so everyone has their account can buy directly within wallet

Mary | Satoshi Club: 👍

Tim | O3: This function will launch at the end of April. LP provider can stake their LP to earn O3 rewards:)

D. | Satoshi Club: nice! i like it 😊

Tim | O3: let’s move on:)

D. | Satoshi Club: let’s do this! thank you for the answers!

Q3 from Telegram user @h1drX

In February 2020, the iOS client was removed from the App Store due to a trademark dispute with a non-blockchain-related company. We know how troublesome Apple can be, but is this measure permanent? Can’t IOS users download O3 Labs Wallet? Can you tell us exactly what the problem was?

Tim | O3: O3 wallet has undergone rebranding and version upgrades in September of last year. In addition to the redesign of the user interface, the product architecture and experience have been optimized, network speed has been improved, and the wallet multi-languages have been added, including Chinese, Japanese, and Korean. You can download the latest version here https://o3.network/#download

Mary | Satoshi Club: Will you add more languages?

D. | Satoshi Club: 👍

Tim | O3: For the Apple Store issue, because of the law restriction from different regions, some user can not access it from Apple store. but you can also access it through Testflight. In addition, we also support many OS: Wendows, Mac, ios, Android

well it depends on our users:)

I think we will do that in the future

D. | Satoshi Club: i want to ask about security, can user easily extract his/her private key from your wallet and then use it after in any different non-custodial crypto wallet?

Mary | Satoshi Club: So, it should be available for everyone and i like it!

Tim | O3: this is for sure. we are 100% decentralized wallet and didn’t store any user’s data. That’s what I can promise

D. | Satoshi Club: great! thank you, this is very important 👍

and thanks for the answers! ready for the next question?

Tim | O3: yes:0

Q4 from Telegram user @mctrho

Today everyone who works with cryptocurrencies needs at least one digital wallet, but the first options we think of are TrustWallet, Metamask, TronLink, etc. What features does O3 Wallet have that can compete with the most popular wallets today? Why should people use O3 Wallet?

Tim | O3: We have several features:

First of all, O3 Wallet is an open-source decentralized wallet. Users’ assets are always under their control. that’s what I mentioned above.

Mary | Satoshi Club: It’s important for us!😀

Tim | O3: Secondly, O3 Wallet is based on high-quality basic chains to create a simple and exquisite wallet service. We currently support Ether, Btc, Neo, Dot, Neo, Ont, BSC, Heco.

Third, O3 always focuses on the user’s needs. We provide the service to purchase cryptocurrencies by fiat currency and credit card. We also provide swap functions and high-quality DeFi services on Ethereum, BSC, Heco, and Neo, so users can manage their encrypted assets without leaving O3 Wallet. Last but not least, we always protect user privacy, which means users 100% own their data without any login or registration.

done

D. | Satoshi Club: will you aim to support staking function in the wallet for different crypto assets? as it possible on some centralized exchanges

Tim | O3: yes, but for now we are focus on our own staking function:)

D. | Satoshi Club: 😊👍 got it!

Mary | Satoshi Club: Great plans! What assets will be available for staking first?😀

Tim | O3: we will support the O3 staking first in wallet

but user can also explore different asset trough discover page

Mary | Satoshi Club: Excellent!

Thank you!

Do you want to add something or we can go to the next question?😀

Tim | O3: Sorry for interrupt, I have a meeting in 30 mins so maybe we need to move on quickly 😅

yes

Q5 from Telegram user @neverencryp

There is something you called ontology staking on your platform, i will like to know why it is called ontology staking. Is it like the normal staking that we receive APY on and what are the APY you plan to gives of if they are the same.

Mary | Satoshi Club: Sure!

D. | Satoshi Club: let’s speed it up then 🚀🚀🚀

Tim | O3: Ontology is the chain we have support in the wallet. But we have already closed this service since November 2020. this year, we launch the new product O3 Swap. It is cross-chain aggregation protocol, support trade mining and single token stake to our cross-chain pool and earn the O3 rewards. you will see the APY when O3 token launch 👀

D. | Satoshi Club: awesome!

Mary | Satoshi Club: Can’t wait to see that APY👍

Q6 from Telegram user @sofiaisla

Many users are routinely hacked. There are currently many scams and thefts in the world of cryptocurrencies. Could you tell us what security solutions O3 Labs has to keep the privacy and assets of its users protected and secured? Does O3 Labs have KYC to prevent money laundering? How is O3 Labs able to offer security?

Tim | O3: Security is our priority. we have 3 features to ensure the asset security

1，100% Non-custodial wallet

In O3 Wallet, assets are stored on the blockchain. Your assets never leave your control, only you have your private keys. The wallet is just a tool to help you manage the assets on different chains. You don’t need to worry about wallet providers running away, because as long as you keep your private keys, your assets are still on the chain. Therefore, in our experience, most private key loss incidents are caused by the user not keeping it well, rather than attacked by hackers.

Mary | Satoshi Club: 👍

Tim | O3: 2, Never store your personal information

To ensure assets secure, O3 Wallet never saves your personal information on our server. so every user is anonymous. You can create many wallets if you want or import with your private keys, encrypted keys + password, or Mnemonic which only you know. In this way, it is difficult for hackers to get your information or attack you. On the other hand, we can not help you to recover the keys and password if you lose them. So please make sure you always back up your private key/ Mnemonic correctly.

3，Phone security

We allow users to login with Face ID, Touch ID, or wallet password to ensure phone-layer security. We truly believe our professional Dev team which is extremely rigorous and strict working on resisting hackers; Not only that, we implemented the most advanced code security audits for better ensuring the safety of user assets.

Tim | O3: done:)

D. | Satoshi Club: this is high level of security👌

Mary | Satoshi Club: Thank you for your answers, Tim! I see that you really care about security!

And live part is near!

Ready for it?😀

Tim | O3: I will choose 10 of them right

D. | Satoshi Club: yes

Tim | O3: let’s go~

Mary | Satoshi Club: Let’s go 🚀

Part 2 — live questions from the Telegram community

Q1 from telegram username @alextsiling

what make o3 token a good investment!

Tim | O3: I will address three core usage of o3 token what i think it will make it valuable for investors.

1.Member rights:Stake O3 to obtain interest and transaction discounts allocated by the O3 Swap treasury.

2.Community governance: Users can participate in community governance by staking O3 to initiate proposals, participate in voting, etc.

3.LP staking: Users can use O3 to synthesize liquidity equity proof (LP), which can be used for unlocking and mining.

Q2 from telegram username @surendra040

Does O3 wallet supports other chains like Thundercore ,Solana or all chains like Trust wallet supports?

Tim | O3: Q2. good question, we are going to support Solana next.https://twitter.com/O3_Labs/status/1381626661985259521

Q3 from telegram username @topind7

Do you have a newsletter list I can join to stay in touch with O3 Labs and also get latest information and updates?

Tim | O3: Scroll down the page you will see the newsletter subscription https://o3swap.com/

Q4 from telegram username @centoscu

I’m looking for tokens to invest and hold. Even stake them. Could you please explain the benefits of O3 token and why should I hold it for long term?

Tim | O3: Q4. O3 holders will be able to participate in community governance, trading discounts and other member rights by staking O3. According to the amount of staking, the staker can get a certain percentage of the staking reward, which comes from O3 Swap Treasury. All revenue from the O3 Swap platform will be used to buy back O3 on public exchanges and be deposited in O3 Swap Treasury for redistribution. This mechanism will impact in O3 token value

Q5 from telegram username Insomnious

How do you plan to onboard the initial liquidity needed for your pools and what benefits if user want to be liquidator or provide liquidity 03 labs?

Tim | O3: Q5 we are going to rewards the LP provider with O3. Also an extra bonus from trade mining

Q6 from telegram username @tatarrama

A partnership is required for adoption, so can you tell us about your partners and your perspective on partnerships?

Tim | O3: Q6. We are gracious and humbled by the support of these highly reputable and prestigious blockchain ventures:) https://twitter.com/O3_Labs/status/1382674091769962501

Q7 from telegram username @budykarebet

What is the strategy used by Your Project to attract new users and investors and keep them in the long term?

Tim | O3: The O3 token can be acquired in the following three ways:

1. Through early participation in product testing and community contributions.

2. As trade mining rewards for using O3 Swap.

3. By providing liquidity to cross-chain pools.

Please join our community- Telegram, Raddit, Twitter, and subscribe our newsletter on our website (https://o3swap.com/) to get the latest information.

Q8 from telegram username @Eminet001

what reward do I get for providing liquidity, and also the rewards of staking and mining your token. ?

Tim | O3: Q8. Users will receive O3 as a reward after trading on O3 Swap. According to the amount of O3 purchased each time, O3 will be distributed for trade mining rewards according to the initial default 1:1. The time of rewards settled and distributed depends on the block time period.

Q9 from telegram username @cindy_crypto

How many blockchains does O3Swap support right now and will you add support for other blockchains in the future?

Tim | O3: Q9. For now we support Bitcoin, Ethereum, NEO, Binance Smart Chain and Heco of course in the future we plan to add more blockchains!

Q10 from telegram username @Derazy

A lot of new swap platforms are starting up and race with others. And it’s getting more competitive in the space. Regarding on that competition, what is O3 SWAP plan in order to be the top swap platform?

Tim | O3: Q10. most of the cross-chain technology in the current market belong to two categories, one is a bridge, the other is a hub; bridge mainly realizes asset packaging/transfer to another network, the limitation of Hub lies in all of the assets need to be deposited and converted into the form of the hub network and then allow users to accept the hub network assets. O3 team has worked hard on innovative explorations of cross-chain transactions. It is the first to use the method of the cross-chain pool to connect different liquidity of assets on the chain, allowing users to exchange cross-chain assets without asset deposit and withdrawal, which greatly reduces the threshold for user operations/transactions.