Loading Events

Events

Noracle Discord Recap

August 17 / 2:00 pm

Satoshi Club, Noracle
300$ in NORA$ prize
Read Recapitulation
  • This event has passed.

Part 1 — introduction and questions from the Telegram & WebSite

AAndres M. | Satoshi Club

Hello everyone, welcome to another AMA session. Today, we are gonna talk about NORACLE. We hope you enjoy this interesting event.

YYoMan | Satoshi Club

Good day Satoshians! Welcome to our AMA with Noracle. We'll start soon. Waiting for our guests to join

AAndres M. | Satoshi Club

Let's wait for our guests, meanwhile, please join NORACLE’s server

YYoMan | Satoshi Club

Join Noracle Discord - https://discord.com/invite/noracle Join Noracle Telegram - https://t.me/noraclei

AAndres M. | Satoshi Club

@noracle5128 is our guest today. Welcome to Satoshi Club It is a big pleasure for us to have you here.

nnoracle5128

Greetings everyone, it is my pleasure to be with you today.

YYoMan | Satoshi Club

Welcome to Satoshi Club, nice to meet you!

nnoracle5128

Thank you. Happy to be here!

YYoMan | Satoshi Club

Btw, How should we address you?

AAndres M. | Satoshi Club

We are glad to have you here, please give us an introduction about Noracle, what inspired you to create this project and what is its main objective?

nnoracle5128

I'm Hugues, computer engineer, graduated at KIT, the elite university of Karlsruhe in Germany, entrepreneur and consultant in various IT projects for 2 decades.

AAndres M. | Satoshi Club

Nice to meet you

YYoMan | Satoshi Club

Great career, Hugues!

nnoracle5128

I have proven expertise as a developer in several enterprise projects and as a theorist, I’m interested in all things formal systems, artificial intelligence and blockchain. How did I come up with the idea of creating Noracle? Noracle is an idea that came in my mind 4 years ago as the wave of play-to-earn games and DeFi gave the whole web3 space an unprecendented boost. I thought that while play-to-earn is a great way to bring a lot of people into web 3, Strategize-to-earn should bring crypto adoption to another level.

nnoracle5128

Thank you YoMan.

YYoMan | Satoshi Club

Can you share some interesting background information about your team and its journey?

nnoracle5128

Picture this: Many aspects of our live can be gamify, and playing with well-constructed strategies might not only help us be a master in the different games that can be built with the Noracle models, but they might also help us improving specific things for our well-being.

AAndres M. | Satoshi Club

@noracle5128 BTW can you tell us about the most important milestones for NORACLE until now?

YYoMan | Satoshi Club

100%

nnoracle5128

About the team. We are a group a professionals with in deph knowledge in engineering and management. Specifically, the core team has worked long time for insurances and financials enterprises and institutions in Europe, India and the US.

YYoMan | Satoshi Club

So you’re not based in a single location; rather, you are an international team

nnoracle5128

Milestones for NORACLE. Before starting the project with my team I got the idea of predictive models in gaming patented in the US. You can find the references on the documentation on te project website.

YYoMan | Satoshi Club

Dear community, to know more about Noracle please check their website: https://www.noracle.io/

AAndres M. | Satoshi Club

Amazing, which were the results of your recent IDO?

nnoracle5128

Once it became clear to me that predictive models can become something that change the game in GameFi and DeFi, I wrote a prototype for the protocole and let review by collegues and friends. Then the core implementation began after I raised $200K with friends together to start building the protocol and prototype of prediction games that can be built on top of it. We then raised another $150K in UTC deals and a small public sale in 2023.

YYoMan | Satoshi Club

Impressive!

AAndres M. | Satoshi Club

Congratulations, that's a huge number

nnoracle5128

The first game ever on Noracle is almost there and will go LIVE on September 1st. I invite you all to test it and be part of the great game.

YYoMan | Satoshi Club

it's hard to raise in a bear market, but you guys managed to do it, which means there is enough interest for your product

AAndres M. | Satoshi Club

Of course, we'll be there, our community can't wait to try it

YYoMan | Satoshi Club

We thank you for the great intro! Are you ready for the first part of our AMA, where you have to answer six questions from our community?

nnoracle5128

Yes and No. Many people don't realize what is coming with NORAVLE yet. But I guess we will have the opportunity to speak about it now in the first part of the AMA.

YYoMan | Satoshi Club

We've chosen 6 best questions from our website. Let's go! Q1 From User @Sugege What specific methods and technologies does Noracle employ to validate and ensure the accuracy of its predictions across different domains, such as gaming, finance, and sports?

nnoracle5128

Sure. Like I said in the intro, I got a method for a predictive model patented in the US. This specific model used fuzzy logic to define a new paradigm I called instable sets then in the patent description. With this model, it is possible to develop and quantify strategies in any number prediction game that involve predicting a set of x numbers out of a total of y numbers. With this model, you can strategize to play any number prediction game of this kind, including all the national lotteries that are played by millions of users daily around the world.

AAndres M. | Satoshi Club

Can we use this to predict different events? For sports, gambling, trading, what else?

nnoracle5128

This means that NORACLE is poised to attract millions of people who will be seeking improving and enhencing their odd to win when they play Mega Millions, Powerball, Eurmillions, Eurojeckpot and so on. The potential is urge.

YYoMan | Satoshi Club

As a football fan, can i use your platform to predict games results?

nnoracle5128

I was speaking about the first model included in the base layer. Now, we are working on further models that fit to predicting other kind of events like sports and trading. Those require other technologies heavily involving Machine Learning (ML) and neural networks. Yes, it is clearly forseen in the roadmap that models for those types of events will be added in the protocol moving forwards.

AAndres M. | Satoshi Club

Amazing, that's an innovative technology with a lot of use cases

nnoracle5128

Yes indeed. People just need to know about it to realize that!

AAndres M. | Satoshi Club

Thanks for the clear answer, ready to proceed with the next question?

nnoracle5128

Imagize an ecosystem where anyone around the world can just connect his wallet, builds strategies for the game play and let the system measure the strategies and compares them to strategies of other players in order to determine the best strategists. Winning a game like Megamillion will no longer be just about habing luck to have randomly chosing the winning numbers, but rather about having used the best strategies in Noracle.

YYoMan | Satoshi Club

Looking great!

AAndres M. | Satoshi Club

Great, it is like a network connected and feed by everyone

YYoMan | Satoshi Club

Ready for the next question?

nnoracle5128

You got the point! Yes.

YYoMan | Satoshi Club

Q2 From User @Luxian.btc (charlest1997) I understand that liquidity locking and burn mechanism help maintain the stability of the token’s value. But, Could you tell us the reason behind the 42% of total supply tokens will be implemented as the Black Hole tokens? What’s the benefit of allocating huge percentage of supply tokens for Black Hole? Lastly, Could you clarify how the mechanism of locking and burning the tokens simultaneously for ER Rewards? How can you ensure us the transparency of the Black Hole tokens will be locked forever and burnt?

nnoracle5128

The specific concept of black hole in the Noracle ecosystem is well explained in the project whitepaper. Let me recap it: We want that each ecosystem participant earns a share of the revenues generated by the activities within the games and apps using the protocol, based on the weight of their participation within the ecosystem. In other words, based on the percentage of tokens she stakes related to all staked tokens. Once a user stakes a token, this token goes into that black hole, meaning it is burnt forever. However, the ecosystem's reward mechanism ensures that the user receives a reward greater than the number of tokens he has wagered. How much tokens the user receives depends on the staking duration he chose. So staking is equivalent to burning and reward generation is equivalent to minting. The 42% initially burnt in the black hole is the initial weight of the ecosystem core. The transparency of the token being locked in the black hole forever is ensured by the token contract and the contracts for staking and reward mechanisms that will be added in a subsequent step of our roadmap.

AAndres M. | Satoshi Club

Currently, what are the benefits for staking? Are any minimum amount of tokens needed to stake?

nnoracle5128

We are yet to release the contracts for staking/reward mechanism. You can't stake the tokens just now, but by holding them you have the opportunity to experience value increases through buy back mechanisms that will take place as replacement of the staking/reward that will automatically take place through smart contracts once they are ready.

YYoMan | Satoshi Club

good incentive let's see the next question

nnoracle5128

Ok.

YYoMan | Satoshi Club

Q3 From User @Mira~Philips As Noracle continues to grow and expand its capabilities, what are the most significant challenges or obstacles that the team anticipates facing, and how are you proactively addressing them to ensure the platform’s continued success, security and positive impact on its users and the broader ecosystem?

nnoracle5128

We believe that one of the biggest challenges facing the entire cryptocurrency ecosystem today will be regulation. Because blockchain is enabling us to achieve feats that were not possible in the traditional economy, such as developing a system that allows all participants to be authentic holders of their assets. We're well aware that the technologies we're developing in blockchain are shaking things up and overturning old ways of doing things. As a result, the traditional economy will undergo a profound rethink, and politicians will try to adapt to the new situation.

AAndres M. | Satoshi Club

Completely agree, how to face regulation measurements?

nnoracle5128

Knowing that anyone can just connect his wallet and participate in a global ecosystem is something intriguing for all regulators. Now we are working with lawers specialized in blockchain topics to anticipate all eventualities

YYoMan | Satoshi Club

Yes, unfortunately that's a big concern for web3 in general. But I don't think any government will be able to fight against crypto. It's a snowball that can no longer be stopped. The industry has become too large and mature to be banned. Politicians are already running their campaigns showing support for crypto .

AAndres M. | Satoshi Club

Great job, I realize that's something important to care about Crypto is unstoppable

nnoracle5128

Absolutely, and the global crypto community can only grow up moving forward.

YYoMan | Satoshi Club

the best is yet to come

nnoracle5128

That is our believe!

AAndres M. | Satoshi Club

Fantastic answer, let's proceed with 4th question

YYoMan | Satoshi Club

Q4 From User @Calistaaaa x Celiboy You mentioned the unique dual reward system in BNB and NORA tokens, and also hinted at high APY (Annual Percentage Yield) for early adopters. Can you elaborate on the staking mechanics, specific benefits for early participants, and how the dual reward system functions in practice? Additionally, what are the projected long-term sustainability plans for this award, given potential fluctuations in activity within the Dapps and gaming ecosystem?

nnoracle5128

Sure, the double reward mechanism means that users who stake will be rewarded in both the ecosystem token NORA and BNB which the native token of the blockchain we are currently building the infrasture on.

AAndres M. | Satoshi Club

Could you tell us more about the tokenomics of NORA?

nnoracle5128

The total supply is 70 million tokens after 50 million have been initially burnt as ecosystem weight out of the 120 million MAX Supply. You can find all information about the fair distribution of the tokens on the project website.

AAndres M. | Satoshi Club

For sure, Satoshiclubbers let's check more about https://www.noracle.io/

nnoracle5128

We have imagined a distribution and reward system that give incentive ti users to remain part of the ecosystem for the long term.

AAndres M. | Satoshi Club

That's great, community first, I like that Would you like to add something else before next question?

nnoracle5128

Yes, you also wanted to know about the sustainability. While playing or using the ecosystem dapp, each user will be contributing to the sustainability of the ecosystem. The whole tokenomics was build with this in mind. Meaning, as long as there will be millions joining the amazing games and apps of the ecosystem, its whole value will remain in an ascending curve.

YYoMan | Satoshi Club

good mention

AAndres M. | Satoshi Club

I like your philosophy, I think community is the main pilar of a project

nnoracle5128

We are building the whole ecosystem for them.

AAndres M. | Satoshi Club

Well, let's proceed with next question, @

YYoMan | Satoshi Club

shoot it, please

nnoracle5128

OK

YYoMan | Satoshi Club

Q5 From User @Delvy Tamaraaaa The collaboration between NORACLE and Chainlink to support number prediction games like NORA642 highlights the convergence of blockchain and gaming technology. What are the main benefits and potential limitations of using Chainlink VRF to generate random numbers in the NORACLE prediction game? How does this integration align with NORACLE’s broader vision for decentralized gaming and oracle services?

nnoracle5128

The big advantage of using Chainlink as part of our technology stack is that we're relying on a technology that's already been tried and tested in the market, to reassure all participants of the transparency of the draw results in this case. Chainlink is just one aspect of the integration, and whenever the need arises, we will call on our technology partners to ensure that we offer the best possible experience and technology to users of the ecosystem.

AAndres M. | Satoshi Club

Congratulations, it is an important partnership

nnoracle5128

We don't see any limitation through this collaboration right now as our technologies are built so as to remain flexible to adaptation and changes. Chainlink is the market leader today in the Oracle technology in the blockchain and we couldn't have imagined better technology partner to align with our absolute desire for transparency.

AAndres M. | Satoshi Club

Great words, any other important partnership you want to tell us about? Maybe any sneak peek about future news?

nnoracle5128

We will be announcing them as they are confirmed. The only thing I can say right now is that we're working tirelessly to make sure we have the best partners to help us achieve our great ambitions.

YYoMan | Satoshi Club

Waiting for news

AAndres M. | Satoshi Club

Thanks for the info

YYoMan | Satoshi Club

Okay, let's see the last question from Part 1

nnoracle5128

OK

YYoMan | Satoshi Club

Q6 From User @Tron22 What steps is Noracle taken to improve and ensure users privacy and data security within the platform, particularly the handling of sensitive informatios such as prediction market outcomes and account information? Also, will Noracle depends fully on Ethereum blockchain, or it is exploring other blockchain technologies as potential alternative? Lastly, How is Noracle handling regulatory challenges and ensuring compliance with local laws and regulations, particularly prediction markets and cryptocurrency trading?

nnoracle5128

For the time being, NORA642 requires only a web3 wallet to connect. I'm using this as an example, since NORA642 is the first game in the Noracle ecosystem. This means that we've chosen to keep user information to a minimum for the time being, and it should stay that way as long as regulators don't force us to collect more information from users. Secondly, I can assure you that all sensitive data is protected by advanced encryption mechanisms. We are building now on the BNB Chain, meaning Noracle is an EVM compatible protocol, but it doesn't suggest that we are forever bound to just one Chain. Our goal is to go multichain as soon as the demand is there from the community. Not only could other EVM compatible chains be integrated, but other ecosystems like Solana or Kaspa con be integrated as well.

YYoMan | Satoshi Club

good to know, privacy is a very important aspect thats huge

AAndres M. | Satoshi Club

Congratulations for the important job that your team and you are doing to improve the performance of Noracle Project, it is fantastic what you are built until now, claps for NORACLE team That's it for this first part of the AMA. It is time to proceed with live community questions. We will open the chat for 2 minutes Community will post them questions and @noracle5128 should answer 10 of them

nnoracle5128

You are welcome!

YYoMan | Satoshi Club

Now we will go to Part 2 with live section from our community ready for a storm of questions?

nnoracle5128

Let's go.

AAndres M. | Satoshi Club

Prepare your umbrellas

Show more

Part 2 — Live questions from the Telegram community

mmiyagi8995

Does noracle have any plans to attract web2 and non crypto users to its project. What strategy is in place to achieve this feat

nnoracle5128

Yes definitly, and the web2 actors should massively contribute to the success and explosion of the ecosystem in the days and months ahead. Just imagine the lottery vendors around the world serving millions of customers decide in a snow ba effect to adopt the Noracle predictive models to offer new way of using their respective platforms to their customers. This will massively increase the adoption of the ecosystem. That is clearly a goal: letting as many people as possible join in, even those without any web3 knowledge or crypto wallet.

SSugege

Am still curious about your norabets? what will it give users if they successfully bet correctly? $NORA?

nnoracle5128

No, the winnings are always in BNB. Also for norA642 to be clear. Also, even if users can buy tickets in NORA and will be able to use NORA to buy other in game assets, all those buying are automatically converted in BNB and stored in the gaming pool. All earnings and winnings afterwards are distributed in BNB.

TTony stark

What are you next plans after ido? I mean what should we be expecting from this project after ido?

nnoracle5128

the short term program is token listing august 31, launch of NORA642 on september 1st to let the world experience real magic of predictive models worldwide. Don't miss this and let the whole crypto ecosystem and the world discover this new approach. We are unveiling a new narrative: S2E (Strategize-To-Earn). If you remember what Play-To-Earn (P2E) did to the ecosystem 3-4 years back, just imagine the same thing for S2E once people will realize that prediction games can be played differently and in a very exciting manner. Cryto Banter also mention the importance of prediction markets in one of his recent videos. So, we are pioneering something that the rest of market will discover soon in larger scale scale. So, be praud to be early in our ecosystem. Go to our X page to see Crypto Banter recent statement: https://x.com/Noracleio/status/1824759702606975072

𝓜𝓜𝓐𝓡𝓥𝓔𝓛

Can you elaborate on the unique value proposition of $NORA in comparison to existing protocols like Chainlink? What makes your approach to predictive modeling stand out?

nnoracle5128

While Chainlink is a great partner and a giant in the crypto space, they don't make predictive modeling. So, we are complementary to them. One of our clear goal is the feed Games and DeFi apps with predictive models, just like Chainlink does with offchain data.

UUnilag8#

What is the price of nora token

nnoracle5128

Now $0.04 on Gempad: https://gempad.app/presale/0xEE40417B7feFa36465c501260aC50813b389c7EF?network=BNB_Smart_Chain will start at $0.06 on the first DEX on august 31.

ssentinel

With Noracle introducing predictive AI into gaming, what ethical considerations should be addressed regarding the manipulation of game outcomes or player behaviors through predictive algorithms?

nnoracle5128

Transparency is Key, and we use decentralized technologies to construct a robust system that ensures that games are not manipulated. For example the use of Chainlink VRF technology make it impossible to manipulate the outcome of each NORA642 draw. Even better, players can see the on-chain activities LIVE as the draws take place.

RRemy

One of Noracle's unique features is the ability for users to build strategies and compare them against others. How does the platform ensure that the strategy evaluation process is fair and unbiased, and what safeguards are in place to prevent the sharing or duplication of successful strategies among users?

nnoracle5128

Good point. User strategies are not revealed, even after the play session. You have maybe red that users can sell their strategy. Even here, the strategy of course will not be revealed to the buyers, only the key measures of the strategies will be seen so that any player can decide if he wants to reuse a specific strategy or not. The formula of the evaluation process are well-defined in the white paper. Though, we can imagine letting the evaluation tak place in a decentralized manner in the future, meaning that many oracles could take that in charge. But it would also mean additional fees for the whole evaluation process. Such topics could, of course, be discussed in the DAO community moving forward.

LLeixita

Are the Noracle protocol tools designed to be used by novices? Or only for people experienced in Crypto and DeFi?

nnoracle5128

Noracle tools are designed to be used to everyone. NORA642 is an example of how we simplify complex processess and visualize them in such a way that anybody willing to play would understand.

AA$her 💯

How does the NORACLE protocol ensure the accuracy and reliability of the data it provides for prediction applications, especially in the context of decentralized finance (DeFi) and GameFi, where precise numerical data is critical for making informed decisions?

nnoracle5128

That is why we chose to use Chainlink technologies, starting with the VRF technology. Its technologies will even play a greater role as we advance into prediction models for finance applications.

AAlixbella.

Where can it be used, what can be created with the Noracle oracle and on which chain is it developed and what will be the NORACLE protocol supporting and how to generate good predictions

nnoracle5128

Many questions in one Start with NORA642 and you will find answers by yourself moving forward.

Show more

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.

Leave a Reply

Your email address will not be published. Required fields are marked *