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
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.
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?
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.
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.
AAndres M. | Satoshi Club
Great, it is like a network connected and feed by everyone
YYoMan | Satoshi Club
Ready for the next question?
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
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.
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.
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
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.
AAndres M. | Satoshi Club
YYoMan | Satoshi Club
Okay, let's see the last question from Part 1
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
YYoMan | Satoshi Club
Now we will go to Part 2 with live section from our community
ready for a storm of questions?
AAndres M. | Satoshi Club