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 PhoenixDAO and our guest was Monte Thomas – @Degreatone and Mark Anstead – @ansteadm. The AMA took place on the 31th 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 PhoenixDAO! Welcome to Satoshi Club😀
Goldie Rocket | Satoshi Club:
Today our guests are Monte Thomas: @Degreatone and Mark Anstead: @ansteadm! Hello and welcome to Satoshi Club @Degreatone and @Cryptololo08 Kyle Gibson!
Mayor:
Hello Mary. Thanks for having me today and happy to meet your awesome community.
Kyle | PhoenixDAO:
Hey, Satoshi Club great to be here!
Goldie Rocket | Satoshi Club:
Introduce yourself. How did you get to be involved in crypto & PhoenixDAO?
Tell us a bit please about yourself and your position in PhoenixDAO.
Mayor:
Great. I’m Monte Thomas. I got into crypto purely out of curiosity when I was still working as a freelance tech writer together with my day job(lecturing) back in 2014/15. After taking my personal deep dive to learn about blockchain/crypto, I got a role with a crypto project to cover articles, after which I moved on to work as a sales and marketing person. I currently work with PhoenixDAO as the Partnership Director. This role sees me bring to bear a combination of Biz Dev skills, Marketing, and Sales while covering the Legal responsibilities of the project.
Kyle | PhoenixDAO:
Sure, my name is Kyle Gibson, I got involved in Crypto back in early 2018 and so I’m sure much like most of you’re community have endured that wonderful bear cycle 😁. I was mainly involved in a number of advisory roles back then and it was only around the launch of PhoenixDAO that I jumped in feet first, It was my background that lends itself to PhoenixDAO as a business owner, spending many years in a key role of a digital marketing agency.
My role within PhoenixDAO is Communications Director, as well as this being part of the Core team means we have a vast number of roles especially in these early stages of growth. Marketing, networking, listings…the list goes on.
Mary | Satoshi Club:
Oh, you’re an early bird👍 and you already did a great job on your position 😉 Marketing is the key😀 Maybe I’ll be OG soon. 😆
Kyle | PhoenixDAO:
Isn’t it just, we recently partnered with LunaPR who are doing a fantastic job in supporting us.
Mary | Satoshi Club:
Thank you for the intro, guys! And now can you tell us more about PhoenixDAO?😀
Goldie Rocket | Satoshi Club:
So.. What is the essence of your project?
Mayor:
Ok, let me summarize here.
Phoenix DAO is a community-driven project that sets out to solve the centralization issues at the core of many crypto projects out there. It aims to achieve this through its community-built DAO platform designed to eliminate whales manipulation in making proposals and voting process (in this case one man one vote), developing in-house products that are built using PhoenixDAO’s suite of protocols which includes the Authentication, Identity, Payment, Storage, and Tokenization protocols. You can think of it as a linked ecosystem of governance (DAO), DeFi products (among others which include, a staking dApp that enables liquidity farming, events ticketing dApp, dApp store just like Google play store) all powered by the PHNX token.
The essence of the project is embedded in the power of our products ad protocols. Which is to give freedom to all/power of participation to all in the space while building products solving real issues in a simple to use way. Permit me not to use any tech jargons here today 😀
Mary | Satoshi Club:
A lot of features 👍 impressive 🥳 And we have some questions regarding these features 😀
Kyle | PhoenixDAO:
To add to this our ecosystem consists of this stack.
DAO – A custom-built governance platform to enable a decentralized democracy and also an ecosystem growth platform whereby users are able to apply for grants to build within the ecosystem.
dApp Store – A custom-built hub to give users a one-stop shop to all things PhoenixDAO.
Products – User base and network effect is key, all products within the ecosystem will bring an element of PHNX utility and growth but also the PhoenixDAO foundation is also developing flagship apps that will not only fuel growth but also project sustainability with revenue-generating initiatives.
Mary | Satoshi Club:
I like your DAO system!
Mayor:
You’d like it more when you interact with it.
Kyle | PhoenixDAO:
We can’t wait to launch the latest version of the platform!
Mary | Satoshi Club:
Yes, it’s always exciting 👍 Thank you for your intro, guys! Are you ready to move to the questions from our community?
Kyle | PhoenixDAO:
Absolutely, fire away 🔥
Goldie Rocket | Satoshi Club:
Q1 from Telegram user @Rosane1a8
PhoenixDAO has a feature that allows the user to create digital identities, for that purpose, do you need personal information? Which data is required, how is it stored, and what are the uses of this digital ID?
Mayor:
I’ll handle this.
No feature as it were, I believe you meant to say we have a digital identity protocol. As you may know, this protocol is built on ERC-1484, a digital identity aggregator. This protocol together with other zero-knowledge (zk) tech can be used to manage user’s identity in a decentralized manner for products built by us/our partners. A typical example is seen in the app built by Numio, one of our partners. Building on this, user details are totally under their control and stored on their devices and not that of third parties https://play.google.com/store/apps/details?id=com.numio.pay. This is going to be the norm to conduct KYC and other checks/verification in the new digital economy.
Mary | Satoshi Club:
Do I need to create my digital identity once?
Mayor:
Yes, but depends on what you’ll be interacting with.
Kyle | PhoenixDAO:
Right now we’re working closely with Numio to utilize their solution which means, yes you’ll only need to create one ID however, we will likely look to create our own solution as part of a wider B2B play.
Mary | Satoshi Club:
Got it👍 thank you! Ready to proceed?
Kyle | PhoenixDAO:
Yes let’s go.
Goldie Rocket | Satoshi Club:
Q2 from Telegram user @Pratze I think the $PHNX token will become one of the important part of the PhoenixDAO ecosystem, could you give us an explanation of the token utility, how this token will interest us or investor?
Kyle | PhoenixDAO:
Okay, I’ll jump in here.
You need the $PHNX token to interact with the entire ecosystem and let’s not forget that continues to evolve and grow, right now it’s a requirement for the DAO, Events dApp, Spot staking dApp, eventually the dApp store and everything else we’re building out. Our latest roadmap shows some of what we already have planned.
Something worth mentioning is the fact that we have a linked ecosystem, our philosophy is that fragmentation is the enemy, taking this approach automatically puts the $PHNX token in a position to keep expanding.
Mary | Satoshi Club:
Thank you! Everything is clear for me 😀
Goldie Rocket | Satoshi Club:
Ready to proceed to the next question🚀
Kyle | PhoenixDAO:
Yes absolutely 😁
Goldie Rocket | Satoshi Club:
Q3 from Telegram User
@yellowchamp
In your Medium article, I read about the community relaunch of the Hydro Ecosystem into Phoenix DAO to bring true decentralization. So aside from this reason, can you tell us more grounds and basis of relaunching and changing of the name from Hydro Ecosystem to Phoenix Dao? As you change the name into Phoenix Dao, how does true decentralization being committed and achieved? What are the positive impacts that the Phoenix Dao name brings to the entire platform’s ecosystem, to the community and to your investors? Thank you.
Mayor:
Bringing true decentralization is a major reason for creating the project (as it relates to structure, project running/governance, token distribution, development, and everything about the project), and we believe that’s a big enough reason, else there’ll be no need for blockchain as it were.
After launch, we started development work on our DAO platform (among other dApps) which will be the go-to place to pilot all project affairs. We’ve already had our first beta testing and in the process of implementing some changes before the DAO is fully live. We hope to release the platform before our first anniversary in May, meaning everyone ($PHNX token holders) can then begin to be involved in what happens within the PhoenixDAO ecosystem. To us, that’s already a fraction of decentralization in governance being enabled. Worth mentioning. The team didn’t allocate huge amounts of tokens (the PHNX team owns less than 5% of the total supply) to themselves to remove the fear associated with most projects where the team owns as high as 50 percent of the total supply.
Mary | Satoshi Club:
That’s great! Hope your beta testing was successful 👍
Mayor:
Yes it was, and we got very useful feedbacks.
Mary | Satoshi Club:
Testing always help🚀
Kyle | PhoenixDAO:
We have a fantastic community which is always willing to help so it’s been great so far.
Mary | Satoshi Club:
Sure! Satoshiclubbers, you can join the PhoenixDAO community and rake part in this awesome project 🔥
Join here @PHNXDAO.
Ready to proceed, guys?
Kyle | PhoenixDAO:
100% you can! be great to see some of you joining.
Yes let’s take on the next hard-hitting question 💪😁
Goldie Rocket | Satoshi Club:
Q4 from Telegram user @AmirJosh With PhoenixDAOs Client Phoenix Authentication, the user’s secrets never leave their device. What is the process of receiving the authentication code if ever the user’s device is lost or damaged, beyond repair? Is it just like the google authentication code with private keys or QR code?
Kyle | PhoenixDAO:
The PhoenixDAO Authentication protocol is just that, a protocol which in layman’s terms is a technology building block, Monte outlined more around this above. What this enables us to do is work with individuals, SMEs and institutions alike to build out applications utilizing the PhoenixDAO tech. It would be the applications built on top of our protocol that manages this. Right now we have a handful of partners – Numio, Ferrum network to name just some who we are in talks with at the protocol level but our focus right now is building out the ecosystem infrastructure.
As part of our partnership with Numio, they have built out an app that enables lots of features including retrieval of your PK. Read more about the Numio partnership and offering here – https://numio.one/numio-x-phoenixdao-partnership-update/
The beauty of wrapping protocols into our top to bottom ecosystem offering is that we’re able to build in some fantastic tokenomics for $PHNX.
Mary | Satoshi Club:
We know Ferrum, they are cool😉
Kyle | PhoenixDAO:
Yes, they’re a great bunch!
Mayor:
O great. Small world. Someone knows someone that you know 😄
Mary | Satoshi Club:
Yes, they also had AMA here😀 crypto world is small😉
Mayor:
Not sure that will be the case 5 years from now.
Goldie Rocket | Satoshi Club:
Yes, in the crypto world we are all interconnected 🌎Time will show! And I’m ready to show you the next question! 😁
Kyle | PhoenixDAO:
Let’s go!
Goldie Rocket | Satoshi Club:
Q5 from Telegram user @Andrey_Seleznov
Phoenix uses smart contracts to facilitate payments without a 3rd party escrow service. Will you have your own POS to process fiat transactions? Will users be able to convert crypto to fiat and withdraw it using your service? Thank you!
Mayor:
We don’t offer this service right now, but the plan with our payment protocol is to cover this type of service in a secure and decentralized way leveraging our identity and authentication protocols. Most of the solutions will be built by partners/individuals/groups that get grants from us.
Again I’ll point you all to Numio. We work closely with them to see how all these services are available to PHNX holders. To read more you can check their website www.numio.one
Kyle | PhoenixDAO:
To also add here with the recent launch of our Events Marketplace we have already begun discussing how an Escrow feature could help prevent potential bad acting so it’s absolutely on our radar.
Mary | Satoshi Club:
How many grants did you already give?😀
Mayor:
1 so far. More to come when the DAO is fully live.
Mary | Satoshi Club:
Yes, we have the last question from this part about this Marketplace 😀
Kyle | PhoenixDAO:
Okay great, I can take that one for the community then 😁
Goldie Rocket | Satoshi Club:
Q6 from Telegram User
@konditer_rolex
We all know marketplaces that offer a wide range of physical goods. It’s hard for me to imagine what an event marketplace is. Explain for what purpose PHNX Event Marketplace is being created. Who may be interested in this from a commercial point of view and what segments of the population is targeted by the app in terms of using the proposed services
Kyle | PhoenixDAO:
Okay sure, so if you aren’t familiar then think about platforms such as EventBrite.co.uk or TicketMaster.com, we’re aiming to disrupt this vertical by bringing Event creation, management and sales on-chain. We see this as a Global product that can actually reach populations that centralized applications cannot. DeFi/Crypto opens up doors to the unbanked and that is most certainly a demographic we will be looking to support.
Here are a couple of key points worth noting:
- The PhoenixDAO Events Marketplace uses $PHNX tokens to buy and sell event tickets.
- Events can be virtual or on-location.
- Events can be assigned categories we are all familiar with.
- Event tickets are ERC-721 NFT’s, allowing users to transfer, send to others, buy for a family member or friend.
- Event creators have a dashboard for metrics and their sell data.
- The Marketplace is decentralized using powerful and familiar blockchain integrations.
- Unlike other platforms the PhoenixDAO Event Marketplace is free to use (except network fees will apply) this is subject to change in the future.
And here’s a great article outlining what we’re doing with the event marketplace – https://cryptodaily.co.uk/2021/03/PhoenixDA-events-dApp-launch but it’s also worth knowing that we see this as an evolving product, we have an aggressive update plan to build out new features and partnerships. This will start heating up once our integration with Polygon(previously Matic) is complete.
We now have a soft go-live date and it really isn’t too far away so watch this space.
https://phnxdao.medium.com/phoenixdao-working-with-industry-leaders-travala-com-b27b46de6e80
Mayor:
Here’s also a Twitter post where I explained some more areas of use. You can check.
Mary | Satoshi Club:
Wow, a lot of info! Sure it will help us to understand everything correctly!
Kyle | PhoenixDAO:
Haha sorry, hopefully, the community finds it all really useful though.
Mary | Satoshi Club:
I think I missed this implementation 🤦 great job! And the live part is coming, guys! Ready for the storm of questions?😀
Kyle | PhoenixDAO:
Lol, let’s go.
Part 2 — live questions from the Telegram community
Q1 from Telegram user @ Divya ….
⭐️ What are your current strategies to attract investors and new users to $PHNX?
Mayor:
We are targeting more users than sole investors. I million people using the events dApp to monetize their skills is more important to us. It doesn’t matter what your area of professionalism is, you can use it if an expert sells tickets for events where you teach others. Please check it out: https://t.co/1i9nkJIujX?amp=1
NB: Fees are a bit high now due to Ethereum network congestion, which is why we’re moving to launch on Polygon (Matic) very soon
Q2 from Telegram user @ 💐💗 NDee 💗💐
Hello sir🙋 Where can I buy $PHNX?
Kyle | PhoenixDAO:
$PHNX can be traded on the following platforms and also will be available on Binance smart chain soon.
Bittrex:
BTC –> https://global.bittrex.com/Market/Index?MarketName=BTC-PHNX
USDT –> https://global.bittrex.com/Market/Index?MarketName=USDT-PHNX
Uniswap:
ETH –> https://info.uniswap.org/pair/0xDFe317F907cA9BF6202CddEC3DEF756438A3B3F7
CoinEx:
BTC –> https://www.coinex.com/exchange?currency=btc&dest=phnx
USDT –> https://www.coinex.com/exchange/phnx-usdt
Bilaxy:
ETH –> https://m.bilaxy.com/app/trade/567
For other DEXs & Aggregators, eg: 1inch, Totle, Matcha, etc., please copy & paste the Contract Address below:
0x38A2fDc11f526Ddd5a607C1F251C065f40fBF2f7.
Q3 from Telegram user @ Marian Merheb
🧨 While I was looking at your website one thing that caught my attention at the end of it was this little section of “Become a Member” where it says we can be Ambassadors or Contributors, but I couldn’t find any information about these two titles. Can you tell us more about it and what are the differences between each other? What are this names entitled to? What role will users have on this two categories and what are the requirements do you ask if we want to be either an Ambassador or a Contributor?
Mayor:
We’ll call for ambassadors in the future but not at the moment. Although there’s a call for developers now.
https://t.co/dSIjU21uwL?amp=1
Q4 from Telegram user @ Arya
Do you have a plan to introduce $PHNX yield farming and token staking for the benefits of long-term holders? When will it happen or what are other ways to earn while holding a $PHNX token?
Mayor:
Yes. This is going to be a feature in our Staking v2 getting set for launch in Q2.
Q5 from Telegram user @ Icy
Currently, PhoenixDAO using ETH blockchain and we know the big problem cause by this blockchain is fees. Do you have plan to change the chain? Or maybe you will going for multi chain? Could you share with us your plan?
Mayor:
Yes, we’re going for multichain.
Q6 from Telegram user @ Neveran Cryp ❄️⛽️
I made a lot of research on where to stake my PHNX but all to no avail, I did like to know where and how many APY I did receive when I stake my PHNX?
Mayor:
Staking dApp:
https://staking.phoenixdao.io/
•Spot Interest:
20% APR (365 days) – paid instantly.
•Stake Limit:
No limit per address.
Limited to 20,000 phnx per txn.
•Stake Period:
1-365 days.
Example of Interest Calculation:
i) If you stake 20,000 phnx for a FULL 365 days, your spot interest will be 4000.00.
ii) If you stake 10,000 phnx for 300 days, your spot interest will be 1643.84.
iii) If you stake 15,000 phnx for 200 days, your spot interest will be 1643.84.
Complete Guide for Spot Staking:
https://medium.com/phoenixdao/a-complete-guide-for-phnx-spot-staking-dapp-we-are-live-b3b9bb8d466c.
Q7 from Telegram user @ Isabellqueen4
Yield Farming and Liquidity Mining, what do you think? What about your Liquidity Mining Program? What can we expect from this project in the short term at some point in 2021, and in the long term of course?
Kyle | PhoenixDAO:
We are currently running an LP Uniswap campaign, details can be found here – https://medium.com/phoenixdao/were-going-defi-staking-crazy-introducing-the-phnx-uniswap-rewards-program-b0c6384bb41a
Q8 from Telegram user @ Air Borne
GOVERNANCE is an important thing in defi…what is your governance strategy and if users can earn rewards by participating in the governance?
Mayor:
Yes, you can earn rewards while participating.
https://medium.com/phoenixdao/phoenixdao-a-complete-guide-for-the-dao-c6e5c3f9336e
Q9 from Telegram user @ Arya
Most projects want to solve the centralization issue, what does PhoenixDao team has developed that other projects don’t have? What is your edge among those projects that also want to solve centralization?
Mayor:
Ours is designed to accommodate one man one vote where there won’t be whale manipulation
Q10 from Telegram user @
DELETED QUESTION BY THE USER
Kyle | PhoenixDAO:
We are taking a ‘what do people want and what do people need’ approach.
We knew full well that if we were to heavily focus on protocols and tech from the outset unless we have lots of money we would struggle to get traction. PhoenixDAO launched as an airdrop and actually without any seed funding or pre-sales so we’re focussing on the tech that the community can interact with immediately. Events, for instance, there are so so many ways to use this globally, being the most secure and competitive solution on the market we expect to see our user base grow quickly and with every event which is promoted, so is PHNX!
As mentioned we have already launched products and the DAO is coming very soon.
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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WebSite – https://events.phoenixdao.io/
Staking – https://staking.phoenixdao.io/