At this time we would like to tell you about the crypto project Sögur Currency. The AMA took place on 2 November.
Our guests were: @idnisa, @Keorian, @Rsrs99, @Obeeones .
PART 1, INTRODUCTION AND COMMUNITY QUESTIONS.
Mary | Satoshi Club:
Hello, Satoshi Club! We are happy to announce our AMA session with Sögur! @idnisa @Keorian @Rsrs99 @Obeeones welcome to Satoshi Club😀
Keren Orian Nadel:
Hey 😊
Yair Hada:
Hey everyone, great to be here 🙂
Ron:
Hey All, Pleasure to be here.
Ido:
Hello Luis and the Satoshi club community, Great pleasure to be here! thank you for having us
Luis Merino 🇪🇸 | Satoshi Club:
Nice to e-meet you :))
Mary | Satoshi Club:
Happy to have you here😀
Luis Merino 🇪🇸 | Satoshi Club
Feel like at home ☺️ Seems Sögur has a huge team… :))
Ido, [02.11.20 15:01]
Thank you. I have a 5 years old who constantly asks hard questions – so I’m used to it 😁
Luis Merino 🇪🇸 | Satoshi Club
Can you please guys introduce yourself and tell us your role in Sögur?
Keren Orian Nadel
Hi, My name is Keren, and I’m Sögur, Managing Director. I have over 15 years’ worth of experience in strategy, product, marketing, operations, and P&L management. I’ve held global senior management positions in both corporate environments as well as startups. I hold a BA in Political Science and an MA in Public Policy.
Luis Merino 🇪🇸 | Satoshi Club:
Political Science, so great! Thank you guys for your introductions. Sögur has indeed a huge and experienced team. I’m sure you’ll have great answers to our community questions
Yair Hadar
I am Yair, Sögur’s Marketing Manager
Ido
My name is Ido Sadeh Man, I’m the founder and chairman of Sogur. I’ve spent the last decade leading product and technology organizations, including Odysii (sold to Gilbarco Veeder-Root, NYSE: FTV), and at Mobli where he was COO.
Ron:
My name is Ron Sabo and I am Sögur’s, Chief Scientist. My background is in Physics and I have PhD in experimental Quantum Mechanics. After a few years in the algo-trading market and I have joined Sögur three years ago.
Mary | Satoshi Club:
You all have amazing background guys👍
Keren Orian Nadel:
We’ll do our best
Luis Merino 🇪🇸 | Satoshi Club:
Btw, what’s Sögur?
Ido:
We will surely do our best 😃
Luis Merino 🇪🇸 | Satoshi Club:
(A brief explanation)
Ido:
Sogur is the plural of Saga in Norse. It is the name of the nordic mythologies – the foundational ethos of the Norse culture.
Luis Merino 🇪🇸 | Satoshi Club:
Sounds great 👏
Mary | Satoshi Club:
Nice name, as I know, you rebranded from Saga, right?)
Ido:
As we see in Cryptocurrencies an evolution of money and economy, rather than a revolution, we believe this name reflects our perspective.
Ido:
Right. We were Saga and because of trademark issues had to rebrand – so we moved from the singular to the plural 🙂
Luis Merino 🇪🇸 | Satoshi Club:
Great idea 🙂
Mary | Satoshi Club:
I see👍 I like your name)
Luis Merino 🇪🇸 | Satoshi Club:
Are you ready to start with part 1? 😉
Ido:
We were born ready. bring it on 😊
Mary | Satoshi Club:
Q1 from Telegram Username @Rebel99
Your Whitepaper says that $SGR is backed by a variable reserve similar to the IMF’s SDR. Can you explain what this means and how it works?
Ido:
The vision of Saga is to offer a Global complementary currency. one that can serve as a store of value and medium of exchange. To do so it was important to us to create a volatility taming mechanism – a stabilization mechanism. But not less important – we did not want to rely on a single currency to implement this mechanism. we don’t want SGR to be influenced by any single nation’s fiscal and monetary agenda And so we chose the SDR.
Ron:
SDR is a basket of the 5 most traded fiat currencies used by central banks to hedge against single currency volatility. It includes USD, Euro, CNY, JPY, and GBP.
Luis Merino 🇪🇸 | Satoshi Club:
Thanks! Great graph.
Mary | Satoshi Club:
One of the main advantages of Sögur is that its reserves are stored in the SDR, a basket of currencies created by the IMF. The financial crisis of 2008-2009 and the current “coronavirus” economic crisis forced many experts to focus on the shortcomings of the Jamaican system and think about possible ways to reform it. .Do they have promising ideas for the future?
Ido:
It was issued in 1969 by the IMF, as an instrument for central banks to hold their reserves
Mary | Satoshi Club:
Yes, you are right)
Ido:
just a week ago, the IMF has published an extraordinary document, preaching a new ‘Bretton Woods’ of sorts, with the SDR as its basis.
https://www.imf.org/external/pubs/ft/fandd/2019/12/future-of-the-IMF-special-drawing-right-SDR-Ocampo.htm
Luis Merino 🇪🇸 | Satoshi Club:
I’ll check it as soon as the AMA finishes ☺️
Ido, [02.11.20 15:14]
I think it is becoming clearer, with the instabilities of the international market, quantitative easing (printers going Brr) that diversification of the reserve currency of the world is becoming ever more important.
Mary | Satoshi Club:
Haven’t seen this doc, definitely need to read this. Could you tell us in some words about it?
Keren Orian Nadel:
https://www.imf.org/en/News/Articles/2020/10/15/sp101520-a-new-bretton-woods-moment
Ido:
We have built Saga in 2017 on that basis. Done
Mary | Satoshi Club: And yes, we really need diversification, you are right 😀
Ido:
It is a continuation of the effort to create a synthetic reserve currency, taking into consideration real-trade volume, and not being prone to single state influence.
Luis Merino 🇪🇸 | Satoshi Club:
And that’s where more payment methods appear, such as crypto 😆
Ido:
indeed, and I believe we are seeing just the beginning of this volatility in the FX rate S
Luis Merino 🇪🇸 | Satoshi Club:
Same thoughts here
Mary | Satoshi Club:
Thank you, we got a lot of food for our brains.
Luis Merino 🇪🇸 | Satoshi Club:
Many guests, many answers, many info 😆🤪 Anything to add? Or can we move to Q2?😀
Mary | Satoshi Club:
Q2 from Telegram Username @justgata
Sögur is characterized by working under non-profit principles, so in what way does the project generate and obtain economic benefits if all its income is used in its entirety to promote its objective? Do they own shares and how can you become part of the shareholders of the company?
When we founded Sögur (then Saga) it was apparent that in order to design and carry out a successful project we need to raise money and find a way to remunerate investors and stakeholders.
Ron:
However, it was also clear that this remuneration cannot be giving investors control over the company – as from the start, our vision was those currency holders should be the owners of the project.
To this end, we developed SGN. SGN is a token held by Sogur’s stakeholders – Investors such as Lightspeed, Mangrove, Vertex, and others, the team, advisors – etc.
SGN can be converted to SGR through the smart contract.
BUT: It converts into a variable ratio that depends solely on the market cap of SGR.
Luis Merino 🇪🇸 | Satoshi Club:
Btw, when did your rebrand occur?
Ron:
Currently, if SGN is sent to the contract, the sender will receive back 0 SGR. Only when the economy grows, then does SGN earn value, gradually, slowly.
Ido:
The rebrand took place this year, on October 8th, following a vote by all Saga holders to approve
Ron:
More details on SGN, including the full conversion model, can be viewed in our monetary model document – https://www.sogur.com/static/files/p/–4276ce95-657d-4e14-ae43-a4da72289291_Sogur%2BMonetary%2BModel.pdf
We are very proud of the checks and balances that SGN introduced in order to assure a fair launch.
Luis Merino 🇪🇸 | Satoshi Club:
Okay, thanks for the clarification
Mary | Satoshi Club:
Oh, got it. That’s the questions I wanted to ask you)
Ido:
So SGN remunerates Stakeholders. but that’s it. they do not control the project, and cannot draw dividends from it
More than that – the interests that the reserve is accumulating stays in reserve – translated into a price appreciation of SGR for its holders
I believe we have answered this one?
Luis Merino 🇪🇸 | Satoshi Club:
No questions for me
Mary | Satoshi Club:
My question was answered)
Luis Merino 🇪🇸 | Satoshi Club:
Let’s go with Q3 then
Ido:
Sure
Mary | Satoshi Club:
Q3 from Telegram Username @Jmagsss
Sogur’s main objective is to create a true global currency that no single entity has jurisdiction over it, meaning it’s decentralized, however, this concept may actually have a little centralized factor/aspect on it, how would Sogur ensure that the product you are serving is completely decentralized?
Ido:
I don’t think it will ever be fully decentralized. for 2 main reasons:
1. we are yet to find banks and institutions willing to open a reserve account in the name of a smart contract.
2. Full decentralization is denying the ability to utilize the expertise and urgent action.
Mary | Satoshi Club:
But did you find some?
Ido:
We have therefore chosen to decentralize whatever can be decentralized – Mainly – the control of supply of money. we cannot issue SGR. the only way to issue SDR is to send ETH to the smart contract
Luis Merino 🇪🇸 | Satoshi Club:
Hope you achieve that soon, a great milestone.
Ido:
Whatever we cannot decentralize we open for voting – so that the holders of SGR are the one determining the fate of the project
Mary | Satoshi Club:
Yes, I saw, some votings already ended)
Ido:
no, I think it will take time – this is why they have opened an account for the Sogur company instead.
Luis Merino 🇪🇸 | Satoshi Club:
Great
Ron:
This is all part of our governance model.
As part of the governance model, holders elect the Executive Council, the top management function responsible for promoting the currency’s success and for overseeing its functioning 24/7.
Luis Merino 🇪🇸 | Satoshi Club:
Governance is the way!
Ron:
In addition, holders also have on-chain veto power for any changes to the monetary model and hold other direct powers.
Luis Merino 🇪🇸 | Satoshi Club:
Not easy to change bankers’ minds… 😅
Ido;
We believe so too – therefore, SGR is not just a currency – it is a governance token as well.
Ron:
The governance model is implemented in a series of intermediary steps. Currently, we are in Phase 2 which includes the formation of the holders’ Assembly together with a dedicated voting system. The Assembly is responsible for electing, dismissing, and overseeing the Executive Council, as well as for aspects of reserve and liquidity management.
For more information see https://www.sogur.com/governance
Mary | Satoshi Club:
Thank you for your answers 👍
Ido:
Just to conclude with an example: a week from now, the holders of SGR would have the ability to dissolve the board and management of the company and elect a new board
Mary | Satoshi Club:
It’s a big power for your holders👍
Ido:
literally, send me home 😢. and I’m very proud of it. If a currency is to be legitimate, it has to be accountable to the holders and not to whoever founded or invested in the early stage of the project.
Ido:
I hope to gain the holder’s confidence though 🙂
Mary | Satoshi Club:
I think with this mechanism it’s definitely possible 👍
Luis Merino 🇪🇸 | Satoshi Club:
You will! ☺️
Mary | Satoshi Club:
Thank you for your answers 👍
Ido:
As it should – after all, it is the holder’s trust that gives value to currency, it is their money in reserve – the power should be theirs.
It is a pleasure to answer such in-depth questions.
Mary | Satoshi Club:
We have some more in this part 😉
Mary | Satoshi Club:
Ready?
Ido:
Sure
Luis Merino 🇪🇸 | Satoshi Club:
That’s the point. I think governance is extremely important for Sögur, allowing users to take important decisions
Mary | Satoshi Club:
Q4 from Telegram Username @Winterkom
Are there internal and external audits of the fiat money behind Sogur? Is it possible to access this information to generate confidence in the users?
Ron:
The banks that are holding the reserve are providing daily attestation of its size – allowing you to verify instead of trusting.
Ido:
There is a daily (business days) internal audit and an annual external audit.
However that’s not enough – Every business day, the banks that are holding Sogur’s reserve are publishing a Net-Asset-Value attestation – declaring how much money they hold on behalf of the reserve
These attestations are accessible on the Sogur web site – every business day.
Luis Merino 🇪🇸 | Satoshi Club:
Can you please share that link with us?
Ido:
This is the link above that @ObeeOnes shared
Keren will now share a deeper dive into the reserve management procedures.
This is to avoid anyone having to trust us in this regard
Yair Hadar:
Daily attestations of the reserve can be found here: https://www.sogur.com/performance/
Luis Merino 🇪🇸 | Satoshi Club:
Thank you!!
Keren Orian Nadel:
https://www.sogur.com/blog/blogPost/Xe84wBIAAB8AaStp/
Ido:
CNY holding is not offered by most banks, unfortunately.
Mary | Satoshi Club:
Got it😀
Ido:
we are now in the process of adding a bank that supports CNY
Luis Merino 🇪🇸 | Satoshi Club:
Hope you find one soon
Ido:
Meanwhile, we are covering by other currencies – and are supporting the spread risks with operational funds.
Mary | Satoshi Club:
Yes, risks are high now) sure, you will find a way)
Ido:
When the reserve grows, if we are still unable to hold CNY (or maybe the Chinese CDBC) – we will cover this portion of the SDR with Derivatives.
We refrain from using them now as they are expensive, but are ready to at any given time – if the risk becomes too high.
Mary | Satoshi Club:
Will it bring any changes to your mechanism? I haven’t seen Derivatives mentioned in your WP, but maybe I missed this part
Ido:
It will have to be voted upon by the holders. You are right. no derivatives in the WP and in the monetary model. because we want the reserve to be plane vanilla currencies. but, if we don’t find a way of actually holding CNY (which is unlikely) – we will have to settle by the near-best.
Mary | Satoshi Club:
Oh, understand, thanks👍
Ido:
I don’t think that in view of the political and monetary tensions between China and the US, we can afford not to maintain the SDR exposure to CNY
Mary | Satoshi Club:
I thought about this and I see that you also)))
Ido:
I believe we will probably be smarter tonight? or maybe not even 😅 tomorrow night rather
Mary | Satoshi Club:
I don’t know😂 let’s wait for the results)))
Thank you for clearing this question, can we proceed with the next?)
Keren Orian Nade:
Yep
Mary | Satoshi Club:
Q5 from Telegram Username @Manugotsuka
The Sögur cryptocurrency is a Stable growing currency, but isn’t a STABLECOIN right?, so considering the huge amount of confused persons, can you explain what are the differences between a stable growing coin and a Stablecoin?
Luis Merino 🇪🇸 | Satoshi Club:
Great question 🙂
Ido:
Indeed – Sogur only starts as a stable coin on the SDR, but implements a bonding curve – which means it deviates from being a stable curve – ACCORDING TO THE MARKET DECISION – The value of SGR is a function of the size of its economy.
Ron:
SGR can be described as a hybrid stablecoin and commodity, where all stakeholders can participate in its decentralized banking governance.
SGR is based on a bonding Curve – which means that the price of the token is algorithmically determined as a function of the size of the SGR economy and Community. It is therefore more predictable.
The supply of SGR is determined only by the market – when one sends ETH to the smart contract to buy SGR – SGR is created.
When one sends SGR back to the contract it is immediately burnt by the contract.
When the number of SGR is small, it is fully backed by collateral. As this number increases, reflecting the increase in Sogur’s economy – Some volatility is introduced, gradually.
Which means that:
When the economy grows the price of SGR increases and the collateral ratio goes down.
When the economy shrinks – the price decreases and the collateral level goes up again.
Keren Orian Nadel:
attaching 2 blogs that we’ve written to answer this specific question
https://www.sogur.com/blog/blogPost/XqFYhBEAACAAojhU/
Keren Orian Nadel, [02.11.20 15:52]
https://www.sogur.com/blog/blogPost/XnIuWhEAACAAiKlg/
Mary | Satoshi Club:
Does that person, who sends ETH has to pass KYC and AML procedure?
Ido:
This obviously goes both ways – should the economy shrink (more holders selling to the contract than buying) – the price of SGR will go back down until it meets back the price of 1SGR=1SDR
To interact directly with the contract – buy and sell directly from and to the smart contract – Yes, KYC is required. However:
Luis Merino 🇪🇸 | Satoshi Club:
I think this article gives a clear answer to the question
Ido:
SGR is listed on Bithumb, Liquid, Exmo, EtoroX – where only the exchange regular KYC is needed and recently a pair was created with DAI on Uniswap.
Luis Merino 🇪🇸 | Satoshi Club:
Are you planning to list in more exchanges?
Mary | Satoshi Club:
As I saw your mechanism provides such a scheme – the higher price – the fewer reserves you have, right?
Ido:
Not exactly – the reserve value in absolute always grows. the % of the SGR price covered by reserve decreases.
Mary | Satoshi Club:
Got it)
Ido:
Of course. 3 more are in the pipes for the very near future.
Luis Merino 🇪🇸 | Satoshi Club:
Can you reveal one of them? 🤭
Mary | Satoshi Club:
Can you give us a hint?)
Luis Merino 🇪🇸 | Satoshi Club:
Or maybe give some clues
Ido:
Not yet I’m afraid 🙈
Luis Merino 🇪🇸 | Satoshi Club:
Come on! You still have till the AMA ends to give us some hints. Maybe you can change your mind haha
Ido:
A strong Asia focus is all I can say.
Mary | Satoshi Club:
It’s some kind of a hint 😜
Thank you) and the last question from this part?)
Ido:
You might very well think that I couldn’t possibly comment
Luis Merino 🇪🇸 | Satoshi Club:
Let’s go with Q6 Ready for the last one?
Shoot it @madamlobster
Mary | Satoshi Club:
Q6 from Telegram user @nagy_szabo
The token is backed by 5 international fiat currencies. Have you done this to make a stable price? Why have you chosen centralized currencies for the decentralized world?
Ido:
We departed from the principle that currency is a quantifier of trust.
And therefore, we have chosen to anchor to whatever it that the world CURRENTLY trusts while implementing a protocol to migrate that trust over the growth of the currency – this is exactly what the Bonding Curve is about.
Mary | Satoshi Club:
Btw, have you ever think about, gold, for example?
Ido:
Not really. when one wants to stabilize, the essential question is against what?
PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS
In this part, we open a chat for the crypto community for 80 seconds. Then the guests from the crypto project choose the top 10 questions. These 10 crypto enthusiasts have earned cryptocurrency.
Q-1 from telegram user @HeRmAwAnTrAdEr
Can you list any unique that Sogur has that your competitors don’t have? give the reasons why we have to choose your project and what are the benefits for us?
Ido:
Thanks for this question. SGR is a hybrid between a stablecoin and a free float currency. we believe this is a unique offering:
What are SGR’s unique features?
A bonding curve protocol exposes SGR holders to carefully modelled volatility – using stabilisation mechanisms to temper risk in fast-changing and unpredictable market conditions while creating an opportunity for sustainable intrinsic value growth.
A model where early adoption is incentivized as the ecosystem grows, thanks to the bonding curve model.
Ido:
SGR is backed by a reserve configured to match the IMF’s basket of currencies. Funds are kept in a variable reserve composed of world-leading fiat currencies held in reputable banks. The reserve ensures the contract will always able to redeem SGR by drawing funds from the reserve.
A democratic governance model built on the premise that the SGR project belongs to the currency holders, allowing holders to vote and partake in decision making as well as elect the leadership of Sögur.
A team of experienced entrepreneurs, financial professionals, technology experts, economists, and academic researchers, all working towards delivering a truly democratic, global, digital currency.
Q-2 from telegram user @Bethel8
Does holding SGN gives me power in your ecosystem?
Ido:
SGR is the Currency. SGN is the token that was issued for the early stakeholders and is not traded. So, unless you are one of the VCs who contributed funds for the implementation of Sogur, or bought SGN from one of them, you are not likely to hold SGN 🙂
Q-3 from telegram user @zaferce
How does Sögur apply the binding curve model and what role does this model play in determining the risk-reward ratio to achieve independent value growth?
Ido:
The price of SGR is determined by a bonding curve protocol:
The initial and current price is 1 SDR (currently 1.41)
If the economy grows – more buyers than sellers – the price set by the contract increases slowly.
If the economy shrinks – more sellers than buyers – the price will decrease up to a minimum price of 1 SDR. Having said that, indeed, SGN has a voting power equal to SGR – for voting purposes, 1SGN=1SGR, this again to ensure, that early backers and stakeholders do not control the economy.
Q-4 from telegram user @CElllIFE
Could the Sögur team help create a digital currency for the national bank?
Ido:
In the past 3 years, we have been in discussions with many central banks as well as global organizations such as the BIS and the IMF. Being that we are open source, our IP is ready for them to use. some of them are showing a growing interest. Sogur’s framework could also be utilized by regions wanting to create a regional trading currency, based on a basket of currencies from the region’s states. such a regional currency is discussed in many areas of the world: by states in Africa, the Middle East, and South-East Asia, and Sogur would be very happy to contribute its knowledge and FW to such endeavors.
Q-5 from telegram user @Alika061
Does #Sogur have any Points that can attract investors to join #Sogur? and where can we buy the $SGR token?
Ido:
SGR can be bought in the following ways:
1. directly from the Smart Contract.
2. Through Credit card via Simplex
3. Through wire transfers via our partners
4. In the following exchanges: Bithumb, Liquid, Exmo, EtoroX.
5. Via Celsius – where up to 15%APY can be earned.
6. Through Uniswap
As to the points regarding why to buy SGR now: SGR is currently at the base of the bonding curve – which means it is 100% backed by the basket. whoever buys SGR now is fully downside protected, but can enjoy the appreciation followed by the growth in market cap.
The bonding curve model is an inherent incentive for early adopters.
Q-6 from telegram user @ngoccam
I received an announcement for swapping from SGA to SGR token, so why do we need to swap, is there any problem with the old SGA token?
Ido:
Swapping SGA tokens to SGR tokens is part of the rebranding process we’ve gone through from Saga to Sögur, nothing wrong with their tokens, they can be swapped 1:1 easily:
https://www.sogur.com/blog/blogPost/X1dTZBEAACMAW7PV/
Q-7 from telegram user @rockmorti
Democracy is considered by some to be the art of oppressing minorities. How does Sogur consider these aspects in its governance model to offer something fairer?
Ido:
I believe that this will answer you’re great question. We’ve put a lot of thought into this mechanism. https://www.sogur.com/blog/blogPost/XRs7BBEAACIAzbB6/ we call it Democonomy
Q-8 from telegram user @Juanquic
Why did you decide to abide by applicable UK laws and regulations? How do you carry out your fight against terrorist financing and money laundering?
Ido:
We chose to abide by a reputable jurisdiction such as the UK for several reasons:
1. The regulation is strict enough to keep our holders protected but forthcoming enough for the crypto project to operate with relative clarity.
2. It allows us to work with reputable banks.
3. As we are witnessing in the past months, more ‘traditional’ actors are entering the crypto playground. from institutional to payment networks. Being incorporated in the UK, adheres to the regulatory frameworks of such institutions.
As to Anti Money Laundering. Even before The 5th European AML directive, applying AML regulation to crypto projects in the EU and the UK, Sogur implemented its own AML policy – executed when onboarded on Sogur.com.
We did not have to change this policy when the AML regulation was introduced – we were already in full compliance with it.
Q-9 from telegram user @jpsarmah
Sogur has many contributors like Lightspeed, Vertex Ventures, Lool Ventures, etc. How have these contributors helped you and why did they trust you?
Ido:
I love this question. Actually, lool answered this question, so I think their words will answer that perfectly https://medium.com/looltalk/saga-why-we-invested-1baa6e70c28c (Sogur, previously known as Saga)
I think that the fact that Sogur was though first, was in the works for 3 years, diligently crafting the model before addressing the public, was a great source of comfort to such investors.
Also, the fact that we were not afraid to declare what we DON’T KNOW – Which lead us to form an advisory of global leading economists such as Prof. Frenkel (ex. Governor of the bank of Israel and Chairman of JPM international) and Noble Winning Prof. Scholes.
Those great minds had only one task – to attack the monetary model and have us respond by fixing it.
I believe this was another source of comfort.
Lastly. We take our time. we prefer a slower, but more sustainable growth. we balance stability and volatility. We are here for the long run.
Q-10 from telegram user @wonderkit
What benefits do you get as an SGR holder?
Ido:
Sögur is designed to be a more mature global crypto token. It was developed by a multidisciplinary team together with a formidable group of world-class advisors. It balances stability with volatility It implements blockchain reliability were most effective It offers true global hedging It has a transparent and smart reassuring reserve It is owned by holders and managed by professionals It is built to incentivize early adoption.
After AMA session
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the project. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 300 $ in crypto-currency was distributed between the crypto-quiz winners.