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 Donutcat and our guests were @SilvioNK @OzzyEzzy and @i_staywoke. The AMA took place on 17 June.
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 Donutcat! Welcome to Satoshi Club😀
D. | Satoshi Club: today our guests – @SilvioNK @OzzyEzzy @i_staywoke !
Silvio: Hello! Its a pleasure to be here! 🙂
D. | Satoshi Club: hi! welcome to Satoshi Club😃
F O: Hi everyone, glad to be here 🙂
Mary | Satoshi Club: Welcome here, guys! How’s going?
Pay Jay: Hey Satoshi Club, glad to be here as well!
Mary | Satoshi Club: And we are happy to see you here today 😊
F O: We’re doing great, feeling positive despite the volatile market 🙂
Mary | Satoshi Club: Super! Soooo… Let’s start 🚀
Could you please introduce yourself and tell us more about Donutcat 😉
My name is Silvio, im the founder of DonutCat, a community driven token running on BSC 🐱🍩
Mary | Satoshi Club: Happy to e-meet you! How long are you in crypto?
Silvio: The first time i heard about bitcoin was in 2013, but i really started to get into crypto in 2017.
F O: I’m Oz, CIO of DCAT. I’ve known Silvio for a while and he invited me to be part of this great team
D. | Satoshi Club: ahh 2017 that year…
Mary | Satoshi Club: Oooh, that was nice year😉 almost like 2021
Pay Jay: Hey I’m Jay, the Chief Marketing Officer at DCAT. I basically help strategize our promotion and merchandising efforts.
Mary | Satoshi Club: It’s great to have such friends 🍩
Yes, i see you’re doing awesome job!
D. | Satoshi Club: so tell us why did you put cat into donut? 😁 are you love donuts and cats that how name of project was born?
Silvio: Well i lived with cats most of my life and while thinking of the name, this idea suddenly popped up in my mind. 😄
Mary | Satoshi Club: Do your cats like donuts?😊
Silvio: Haha i never let them try donuts to be honest. 😄
F O: but they can definitely try some $DCAT
and that’s what our token is all about actually ! Or to be more precise, that’s where we want to take it
Mary | Satoshi Club: Yes, you definitely should try😉 what about you team, btw? How big is it? Is it public or not?
Pay Jay: Yes, our goal was to basically have a fun and catchy token that people could get behind in a community—then ultimately we’d be able to give back to cats in need
Silvio: Well i leaked some of my infos (like my profilepic) in the presale days to show this is a real project in this scammy world.
My team is anonymous, since its up to them to be public or not and we are about 8 people. 😄
Mary | Satoshi Club: Got it😉 actually we will have a question about this topic later, so we will ask you more later!
Thank you for your intro! Ready to start with the questions from our community?🥳
F O: We are ready !
D. | Satoshi Club: let’s gooooooo
Q1 from Telegram user @Highpee
You describe $DCAT as a community token that will evolve through integrated marketing and when I scan through some of the chats in your Telegram, I saw that most of your efforts are geared towards raising awareness and exposure for $DCAT without much attention given to developing real use cases. Since in one of those conversations, you agreed that without developing real use cases for $DCAT, people may be scared to enter, don’t you think that dedicating a special marketing wallet and embarking on market publicity without a focus on real utility is not enough to keep investors for long? What exactly are the use cases and utility that you plan to create for $DCAT? Which product will you create for $DCAT that will naturally drive its growth as users interact daily with such products?
F O: I’ll answer this question.
Mary | Satoshi Club: Sure! Take your time 😀
F O: Well when we first started, we did not have a clear utility. We started as a meme-coin, with potential uses cases. As the project grew, and since we are a community-driven token, we have discussed the alternatives that we had in mind with our investors and have recently reached a consensus.
D. | Satoshi Club: what was the initial distribution model of token? you had a presale?
F O: As a start, we are going to introduce DonutCat merchanidse (facemasks, tee-shirts, mugs, all with our logo). This will first of all give us more exposure. But most importantly, it will allow us to our donation program. more than 50% of the profits from our merch will go to animal shelters and rescues.
Second, we plan to develop an NFT charity marketplace. People can purchase our NFTs and 80% of the purchases will be forwarded to animal shelters and rescues
Silvio: Yes we started of with a 200bnb hardcap presale, which was sold out within 2 days. Then we launched on Pancakeswap very soon after.
Mary | Satoshi Club: Was it long time ago?
D. | Satoshi Club: so you think is fair to sell memecoin? 😁 memecoin means that project is not serious, right?
F O: It was about 12-13 days ago
Mary | Satoshi Club: You’re very young
F O: Well not necessarily but clearly most memecoins start out of a “joke”, and some of them become serious projects. We are definitely serious about what we are doing 😜
Mary | Satoshi Club: Thank you for your answers! Ready to proceed?🍩
F O: Absolutely! And that’s what investors need to always remember. We are only 11 days old, good projects take time
Pay Jay: To that point, we now have an active fundraising campaign with The Humane Society where we’re collecting donations to go directly to cats in rescue shelters in the name of DCAT! If you want to support, please follow the link here: https://tiltify.com/@dcatforcats/donutcats-for-disadvantaged-cats
Mary | Satoshi Club: Nice approach 😽
D. | Satoshi Club: awesome! im very like that you support charity 👍
appreciate for answers guys! ready for the next question? 😉
Pay Jay: Yes, that is one of the main goals of our token is to give back to cats in need!
F O: yes we are
Q2 from Telegram user @Jonahapagu
From your Tokenomics I noticed that 2% of every transaction will be redistributed to all holders, 2% will be burned forever, and 2% of each transaction will be used for marketing fee.. this in total means that for every transaction you charge about 6% of the transacted amount… Why do you have to charge this much for every transaction.. will this not discourage users from transacting using $DCAT. Considering the fact that the less the transactions the less the funds generated for marketing, how do you intend to incentivize your users and ensure transactions are constantly carried out using DCAT to ensure steady supply of market funds..
F O: We don’t beleive our 6% transaction fee discourages investors, quite the opposite actually. Compared to other bep20 coins, our transaction fee is one of the lowest I have to say! Most coins charge between 9% and 13%. The 2% that goes into marketing has been serving us well so far. We have been able to continuously promote the token!
For those that buy, they get to keep more of their tokens than most of other coins, all while knowing that they are generating revenue for marketing
Silvio: Yeah we are in a pretty usual area regarding the transactionfee on defi tokens. 🐱
D. | Satoshi Club: we met a lot of projects recently in our club with the similar token distribution model, the metric a bit different of course and depends on the project’s vision. but what is the story behind your distribution model? was it inspired of some other project?
Mary | Satoshi Club: This has sense😀 but let’s imagine that a lot of coins with less transaction fee appeared on the market😀 will you change yours? Will your fee always be dependent on this factor?
Silvio: I will answer this.
Well since its a community Token aswell we rennounced the ownership so we cant just change the fees. Anyway i think we did a great job regarding the tokenomics and would stick to it either way!
F O: It wasn’t necessarily insipred from a sepcific project. We have watched several projects fail because of lack of funds for marketing. We wanted to first differentiate ourselves by having a lower transaction fee, but most importantly, we wanted to make sure that we always have enough funds to promote $DCAT.
D. | Satoshi Club: gotcha 👍
@madamlobster want to add something or we can go to the next question? 👀
Mary | Satoshi Club: Everything is clear for me 😀
D. | Satoshi Club: super
ready for the next question guys?
F O: Yes !
Q3 from Telegram user @belkysgonzalez
You explain on your website that we can’t be sure that Donutcat isn’t scam, but that you are doing your best to prove that this is a legit project. So what have you done until know to earn the trust of your community? Have you performed an audit on your contract? Is the liquidity locked? And I couldn’t find information about the Donutcat team, so are you an anonymous team for now? Is this permanent or will you be sharing that information at some point?
F O: I can answer this
D. | Satoshi Club: we already got answer about team 😉
F O: What we meant when we said you can’t be sure it isn’t a scam, it’s because no matter what you do, you can never convince people that the project is legit. We have seen doxxed teams that rugpull, we have witnessed it all. Whatever you do, the investors will ask for more, and we understand that, given the amounts they invest. What we have done so far, we have locked the LP, we have also locked a 5% marketing wallet (since we have a small marketing wallet from the 2% marketing fee). Our contract is audited by techrate, and you can find it on github https://github.com/TechRate/Smart-Contract-Audits/blob/main/Donut%20Cat%20%20Full%20Smart%20Contract%20Security%20Audit.pdf
The team will remain anonymous for now, but we have no objection to doxx ourselves as the project grows
D. | Satoshi Club: well said 👏👏
Mary | Satoshi Club: How many holders do you currently have😀
D. | Satoshi Club: btw do you planning to work only on BSC or looking into implementation other chains as well?
F O: we have slightly less than 2000 holders now, but we aim big and we’re certain that the number of holders will grow at a fast pace
Mary | Satoshi Club: Super👍
Silvio: Currently we have no intentions to work on other chains, but its surely an option to discuss in the future!
Mary | Satoshi Club: Awesome 😀
D. | Satoshi Club: got it, polygon would be nice too, very cheap if we talk about fees 👌
F O: we are definitely open to expand ! As we said it’s a community token, so if that’s what the community wants, we will consider it
Mary | Satoshi Club: Thank you for your answers! Ready to jump to the next question?😀
F O: sure !
Q4 from Telegram user @Asela1112
In your Roadmap Q4, I saw upcoming event about NFTs. Adoption of NFTs in most platforms are touted to be the new frontier in the high-growth crypto investment space. How will Donutcat NFTs looks like? Have you any idea to mint these NFTs to user walets? Some NFTs can create unique offspring from breeding such as CRYPTO KITTIES. Can Donutcat NFTs breed too? Can we trade these NFTs on other platforms also in future? In other hand average NFT has a carbon footprint of around 211 kg of CO2 equivalent. How do you overcome these environmental challenges?
Silvio: Our Intention is to create NFTs together with catshelters around the World. We mint pictures & videos of the cats living in such shelter and sell it on our platform. The earnings from those NFTs will go to the shelters who we gonna work with. It is a like very personal way of donating.
Good suggestion about the carbon footprint, we can work against that by using part of the donations for environment charitys like planting trees depending on the amount of minted NFTs. What you think @OzzyEzzy ? 🐱😄
D. | Satoshi Club: will you release any of your NFTs by launch of Binance NFT marketplace? can we see them there?
F O: It’s definitely on the table! With the growth of binance charity, we can study how we can make the combination of binance nft marketplace and binance charity work to achieve our aims!
Mary | Satoshi Club: Thank you for your answers! Ready to go to the next question?
F O: Absolutely !
Q5 from Telegram user @kimterbear
DonutCat will be having an online store soon which intrigued me. E commerce is very trendy nowadays and many people are into this due to its convenient way to purchase goods. What specific goods will be for sale here? Will these be DonutCat merchandise? What will be the primary currency payments that will be accepted here? Is it the native token only or can it be fiats and other crypto currencies as well? In terms of operating, how will the online store operate? What delivery or shipping options will the buyers have?
Silvio: @OzzyEzzy i think you can give a good answer on that or should i?🐱
Pay Jay: I’ll take the first part and @OzzyEzzy will take the latter
So you’re absolutely right that e-commerce is a great way to push ideas and also make a great profit, if the online store is set up right. Our DCAT good will start out with very popular items like t-shirts, mugs, and facemasks and then we’ll offer more goods like cat toys and tags, also things like tote bags and mouse pads. All of these things will be branded with original DCAT designs that our in-house graphic artist will continuously create in response to what our community wants to buy and show off to their friends. By the way, have you seen our memes and GIFs? They’re super cute!
F O: In the beginning we will accept fiat currency. Shortly after, we will start accepting $DCAT as well as most cryptos. We will first start by integrating a shopify-based online store in our website. We will be able to deliver our products to most countries, including the USA and European nations, but not just that. We have a number of suppliers all over the world that we are currently studying. The goal is to make sure that our merchandise can reach every possible location! If our buyers are on the Moon, we will bring that merch to the moon !!
Mary | Satoshi Club: Yes, but you can show them to our users😀
You should partner with Elon and deliver to the Mars😉
Pay Jay: sure! just a few
Well we sure did not partner with Elon, but we have just announced a great partnership with HotDoge. Speaking of which, I’d like to share this with everyone
D. | Satoshi Club: nice!
Mary | Satoshi Club: Cool giveaway 👏
F O: We do have that on the table too, but to be honest, it’s for the long term. We have many things on table now, and we can only process some ideas. We can’t go after every good idea at the moment, we absolutely thought about building our own DEX. We will update our investors and potential ones once the time is right
Better start holding $DCAT then for a chance to win the jackpot !! 😁😁😁😁
Mary | Satoshi Club: Thank you, guys! Ready for the 6th and last question from this part?
F O: yes!
Q6 from Telegram user @victorogb
In keeping up with the integrated marketing plans of the project, DonutCat recently partnered with LORETTA BRANDON, a celebrity crypto influencer, trader and enthusaist. DonutCat hopes that such partnerships would help to promote the fun and pleasurable features of the DonutCat project to a new and wider crypto community. With emphasis on the peculiarity of this recent partnership, can you provide details about it, why did DonutCat decide to partner with an influencer, should we expect more of such “influencer like” partnerships in the future, and asides the partnership fee, how can the community be directly involved with promotions and awareness?
F O: btw, all of our sticker were based on ideas from our community !
I’ll answer this too since I brought Loretta on board
most small projects like ours focus on promoting their tokens on tg “crypto groups” and alike. We decided to take a slightly different approach. there are 2 types of potential investors, those who have been investing in crypto, and those who heard about it, but still not sure about joining the crypto world (because they lack the knowledge)
While we focus on both types, we believe that the second one can bring great value to our project. If we can convince someone who never bought a token, to buy $DCAT as his/her first token, we will grow exponentially
Mary | Satoshi Club: Do you already have such stories?
F O: this is why, the first step in our marketing roadmap, is to create exposure, get people to know what DCAT is. We are currently working on very simple documents explaining what a meme token is, how to buy on Pancakeswap, how to sell, what is slippage, all related to DonutCat. These influencers will bring that exposure that we need, and we will keep on working on such collaborations .
With regards to DCAT? Absolutely, the whole team has brought in family members and friends into the project. We convinced them that DCAT should be their first token. They did not invest big amounts, but they will once they gain more confidence in the project. I don’t even want to talk about the hours I spent on the phone explaining to a friend how to buy DCAT on PancakeSwap 😂
Mary | Satoshi Club: This will be great 👍
Ahaha, got it! You bring new users to crypto 👏
D. | Satoshi Club: by the way, what about slippage? do people need to know something about this if they want to buy your token?
F O: Slippage is basically the difference between the expected price of a trade and the price at which the trade is executed. Meaning, if price moves more or less than a specific percentage, the transaction fails. Usually, buying DCAT works with around 7% slippage, if not, just increase the slippage gradually (you should be able to buy/sell at around 11% for sure)
D. | Satoshi Club: got it! good to know this 👌 thanks for clarification
Mary | Satoshi Club: And live part is almost here 😃
Part 2 — live questions from the Telegram community
Q1 from telegram username @atillayeni
You are saying DonutCat is a community driven token but you allocated tokens for the team so how is it community driven?
Silvio: Well this is the difference between community driven and community owned.
Since we are a community driven token, the team is working on the project but trys to involve the community in most decisions!
Q2 from telegram username captainprince111
Hello @OzzyEzzy @i_staywoke
Do you think the donutcat platform has any weaknesses? Do you believe that your community,donutcat your team, that believes in you are strong and can overcome any problem?
F O: Hi Captain Price, Each project has some weaknesses I will not lie. There are a few marketing promos that we did in the beginning that did not meet our expectations. We are now better able at managing our marketing wallet for sure ! The community definitely still believes in us, that is why we still have most of our long term holders (despite the few hits we had lately). We have a great team that is working 24/7 (we alternate). We have already been in contact with CoinTiger and Hotbit to list our token. These plans are hapenning in the next few days, and we’re sure they’ll give our price a massive push 1
Q3 from telegram username @Kushal85127939
From where can i purchase the merchandise of DonutCat for me? Is there any plan to sell Cat merchandise also for my Cat?
F O: Our merch will be soon available on our website donutcat.org ! We are definitely going to have merch for cats too, we already have an idea of a nice donut shaped pillow !! 😁😁
Q4 from telegram username @potentialsake
Why did you choose to audit your smart contract with techrate and audited by techrate do you plan to make audit with another company?
Silvio: Techrate is very well used audit platform. They got a pretty good reputation which is what needed at the start. Longterm another audit from a second platform is planned as well yes!
Q5 from telegram username @Asela1112
@SilvioNK @OzzyEzzy @i_staywoke
your smart Contract has been already audit. Can you tell us more details about the audit? Can anyone access to the locked liquidity pool on pancakeswap? When will ownership be renounced ?
F O: Hi Asela, all details about our contract audit are available on Techrate’s github, https://github.com/TechRate/Smart-Contract-Audits/blob/main/Donut%20Cat%20%20Full%20Smart%20Contract%20Security%20Audit.pdf
We have no control over the locked liquidity pool, and ownership has been renounced right after launch
Q6 from telegram username @theshow46
Many CryptoCurrency are not solving any Real Problem, they just exist to sell their tokes. What Problems exactly is your solving and solutions are u provide??
Pay Jay: Great question! Because DCAT was inspired by the actual pet cats in our lives and the joy they bring us all, we want to address the problem of feline euthanization. We are fundraising so that we can donate to cat shelters in the U.S., U.K., and Europe so that cats who can’t find a home can still be kept alive throughout their natural lives. We ultimately want to change the way people donate to animal charities by facilitating cryptocurrency as a legitimate means of donation.
Q7 from telegram username @Kabirkapoor9
Hello @SilvioNK @OzzyEzzy @i_staywoke
What are your plans to list DonutCat on various popular exch in 2021? Please share is there any ongoing talks with any CEX executive?
F O: $DCAT will be listed on CoinTiger and Hotbit. We have been approached by them and we have agreed on the terms. We will start with CoinTiger (end of this month), and then move to hotbit (in early-mid July)
Q8 from telegram username @sweetdoge
I see there is a giveaway partnership right now with Dotdoge how can I join that giveaway can you share the details?
We partnered with hotdoge and created a type of giveaway rewarding new holders. Everything is explained on this Flyer! 🐱🍩
Q9 from telegram username @highpee
Hello $DCAT 🐭
You announced a new partnership with #H0tDoge, another BSC project. H0tDoge has their own native swap and a tracker to monitor holding reward. Do you plan to introduce similar features on DonutCat? Also, I can also see that this partnership will come with a giveaway in $DCAT, $H0TDOGE and $BUSD. How can we participate in it and for how long will this last?
F O: Hi Johnny, We forgot to mention that part of our team worked on big projects including HOTDOGE in the past (You can join our tg group to learn more https://t.me/DonutCatBSC). We do plan to introduce our own swap as well. This will help with the donations especially, as we plan to accept donations in DCAT in the future. the partnership will extend to marketing efforts as well. In order to participate, join our tg and hotdoge’s, hold enough $DCAT and $HOTDOGE. Check our tg group for more details !!
Q10 from telegram username @AsifuddoulaNoyon
Is there any reward giving system ❓❓❓
Silvio: The 2% redistribution rewards holders with each transaction!
You actually only have to buy DCAT and hold. 🍩🐱
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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