∟ Events

zk-SPARK Recap

October 3, 2022 / 1:00 pm

Satoshi Club, zk-SPARK
500$ prize
Read Recapitulation
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Part 1 — introduction and questions from the Telegram & WebSite

AAndrés M. | Satoshi Club

Hello everyone, one more time we are with you for another chapter of our AMA series. Today is the turn to talk about a fantastic project

AAndrés M. | Satoshi Club

Our friends from @zksparkofficial are here to teach us about the benefits of their project. @jamiezkspark and @the_real_amc welcome to Satoshi Club, it is a big pleasure for us to have you here

AAndrés M. | Satoshi Club

One minute, please

SSergiu

Hey everyone

SSergiu

I gave the admin rights

SSergiu

Sorry for the delay

JJamie @zk-SPARK (Never DM You First)

Hi everyone! Thanks so much for having us, it’s great to be here!

AAndrea M. Cosentino

Hello everyone! Thanks fr having us!

AAndrés M. | Satoshi Club

Thanks for your help, Serg

AAndrés M. | Satoshi Club

Sorry for the technical problems and welcome to Satoshi Club. How are you today?

RRobocop | Satoshi Club

Sorry lets' start our AMA

JJamie @zk-SPARK (Never DM You First)

Ginger peachy thanks. Can’t wait to get stuck in on some questions

JJamie @zk-SPARK (Never DM You First)

Hope you’re well too

RRobocop | Satoshi Club

Nice to meet you @jamiezkspark

AAndrés M. | Satoshi Club

Same for us. So let's begin with the AMA, please give us a brief introduction about you both

AAndrés M. | Satoshi Club

We want to know more about your experience with crypto and your inspiration to create Zk-SPARK

JJamie @zk-SPARK (Never DM You First)

Hello everyone! I am the CEO of zk-SPARK. I come from a background in traditional finance at Bloomberg, and have since pivoted to crypto and Blockchain as of 2021 as an investor, developer and entrepreneur. After working on some zk-SNARK circuits for a particular self-sovereign identity project, I fell deep down the rabbit hole on Zero Knowledge technology. In our view, there is no other Ethereum scaling solution as viable as zk-Rollups, we just need to get the ball rolling in kickstarting its ecosystem. To that end, we have developed a threefold system of education, incubation and decentralised crowdfunding, which we very much look forward to dissecting with you further in this AMA!

AAndrés M. | Satoshi Club

Amazing answer, we know you are implementing interesting features of the crypto world to create a unique project. So, let's proceed with the community questions

AAndrés M. | Satoshi Club

Thanks for the answer, Jamie.

RRobocop | Satoshi Club

Thank you ! you have great background and experience, how about @the_real_amc

JJamie @zk-SPARK (Never DM You First)

Handing over to @the_real_amc to introduce himself quickly

AAndrés M. | Satoshi Club

Waiting for Andrea, of course

AAndrea M. Cosentino

Thanks @jamiezkspark Hello everyone, I am the Head of Incubation of zk-Spark. I come from a background in traditional finance at Bloomberg (you can guess how me and @jamiezkspark have met) and entrepreneruship/VC where I have spent the same amount of time investing and accelerating startups in the Fintech Industry.

RRobocop | Satoshi Club

Thank you Andrea for the introduction, you also have great background and experience

RRobocop | Satoshi Club

By the way before we go to community question part 1, can you please introduce what is zk-SPARK in a nutshell ?

JJamie @zk-SPARK (Never DM You First)

Absolutely. In a nutshell, zk-SPARK is an education hub, incubator, and decentralized crowdfunding platform kickstarting promising blockchain startups built on zk-Rollups.

AAndrés M. | Satoshi Club

Excellent, nice to meet you, we are honored to have experienced crypto personalities with us

RRobocop | Satoshi Club

How big are zk-SPARK team for now ?

JJamie @zk-SPARK (Never DM You First)

There are 5 of us in the core team (one more than is currently listed on zkspark.io as we have just onboarded a new core team member in the Education department). We also have a further 8 members in our in-house incubator mentor team.

AAndrés M. | Satoshi Club

Thanks for the introduction, let's proceed with the questions to learn more about the project

RRobocop | Satoshi Club

Great team

AAndrés M. | Satoshi Club

Q1 from Telegram user @Alixbella Greetings zk-SPARK team, Can you explain how the zk-Rollup ecosystem works and how it will achieve crowdfunding? What are the strategies to use to achieve the main objective of financing and how can a $ZKSK holder participate? What are the requirements and what is the minimum investment to start on the platform and be part of that financing? can we only use or compromise $ZKSK or can we use other cryptocurrencies or stablecoins?

JJamie @zk-SPARK (Never DM You First)

Hi @Alixbella! The zk-SPARK ecosystem is predicated on the zk-SPARK ($ZKSK) token and we are financed through a token-based raise. We have in the last few weeks opened our seed round to investors, and will be holding a subsequent private round once the seed round is complete. We will be holding our public round of financing at the beginning of 2023 primarily through an IDO on TrustPad, our launchpad partners, and another blue-chip IDO launchpad platform yet to be confirmed. We will also sell a portion of $ZKSK on our own website www.zkspark.io. The requirements for participation are contingent on the requirements of our launch partners’ platforms, but for our own platform we are likely to set the minimum to at least $100. The cryptocurrency used for financing will be a stablecoin on a blockchain supported by our partners, but distribution of $ZKSK will be on zkSync.

RRobocop | Satoshi Club

Thank you for the detail answer Jamie, by the way how much total partner from zk-SPARK right now ? can you share about partnership?

JJamie @zk-SPARK (Never DM You First)

Great question. We have formally wrapped up some 10 partnerships already across each of the core tenets of our business.

AAndrés M. | Satoshi Club

Currently, is there a process to be whitelisted for the coming IDO?

JJamie @zk-SPARK (Never DM You First)

There is indeed. We are running a Gleam contest (details here: https://gleam.io/competitions/mcpcw-zkspark-giveaway). We will let the community know if we run any further such competitions, and continue to collaborate with our launch partners on their arrangement. But for now, don’t miss out on the opportunity for a priority list spot and participate in our ongoing competition!

RRobocop | Satoshi Club

Awesome ! Dont miss this opportunity Satoshi Clubber

AAndrés M. | Satoshi Club

Let's join, Satoshiclubbers, great opportunity to win rewards

AAndrés M. | Satoshi Club

Q2 from Telegram User @silaswills Hello zk-SPARK team!!! Welcome satoshi club. I want to talk about your staking protocol. You mention that the $ZKSK token can be staked in two forms. The flex staking and the lock period staking. In the flex staking, you mentioned that users earn 9% APY and can only withdraw their $ZKSK twice a month. And if they are to withdraw outside the schedule they must pay a tax of 20%. Will the tax be from the profit made from the staked $SKTK or from all the $ZKSK that is staked? If flexible staking, why the 20% tax on unstaking? In the lock period staking, you mentioned that users can stake $ZKSK and can set up a lock period and APY. What is the minimum and maximum lock up period? What is the minimum and maximum APY to be earned by stakers? Is the APY proportional to the lock up time period? What other benefits do stakers get for either the Flex staking or the Lock Period Staking? Thank you!!!

AAndrea M. Cosentino

Hi @silaswills The tax is on the rewards and not the amount staked, and is a common feature in staking mechanisms. Think of it this way: were we to allow stakers to freely withdraw rewards at will without any sort of fee, the incentive to keep your zk-SPARK staked diminishes, and so will the sustainability of the token. We are doing our best to ensure sustainable growth for holders of $ZKSK. And remember this tax is applicable after 2 withdrawals a month, where no tax is applied. The minimum duration for locked staking is 2 months at 15% APY, and the longest is 24 months at 120% APY. You not only earn rewards at the specified APY, you also become eligible to participate in the presale phases of IDOs launching on zk-SPARK, and if you stake for at least 6 months you become eligible for private round phases too. For more information on staking, please see this section of the whitepaper: https://zkspark.gitbook.io/docs/overall-documentation/tokenomics/usdzk-spark-staking

RRobocop | Satoshi Club

Thank you, you mention about distribution $ZKSK on zkSync, why on zkSync, isn't this new network ?

AAndrés M. | Satoshi Club

Thanks for the complete answer

AAndrea M. Cosentino

Good Question @Pratze ... We chose zkSync primarily because it positions us as the first IDO launchpad to deploy on a zkEVM. Given zkSync mainnet is just around the corner, that means we won’t be far behind them either!

RRobocop | Satoshi Club

oh Great ! become 1st always is the best, great strategy

RRobocop | Satoshi Club

Thank you @the_real_amc and @jamiezkspark, do you want to add anything before we go to 3rd question?

JJamie @zk-SPARK (Never DM You First)

The only other thing I might want to add on our decision to deploy on zkSync beyond our “first mover advantage” is simply to draw attention to the strengths and merits of zkSync itself. We share in its values of fairness, inclusion and resilience and we are proud to be so closely aligned with them.

RRobocop | Satoshi Club

Great move , thank you for the explanation

AAndrés M. | Satoshi Club

Congratulations to your team, we should recognize the important strategies you are implementing to help the crypto ecosystem

AAndrés M. | Satoshi Club

Q3 from Telegram User @drweird007 It’s great to know that zk-SPARK is an education hub and decentralised crowdfunding platform kickstarting project build on zk-Rollups, my question is about what kind of education that you can give to user, is it have connection with event that zk-SPARK do name with “Cairo Workshop and Cairo Bootcamp”? If yes, how a user possible to participate on that event? Can you give us more detail what kind activity and information user can get inside “Cairo Workshop”?

JJamie @zk-SPARK (Never DM You First)

Hi @drweird007. The first tenet of our threefold system is indeed education. Sensing a gap in the number of developers currently building on StarkNet and the zkEVMs, we have built out our education offering in order to unleash the full potential of our partner networks. You have picked up on one of our two tracks: the StarkNet and Cairo Track. Starkware, in contrast to the zkEVMs zkSync, Polygon zkEVM and Scroll, are trailblazing a new path in a direction that resists the EVM standard, and as such, have created a new, proprietary coding language well suited to creating STARK-based provable programs. We employ a dual-tiered approach to our education: an introductory workshop open to all, and a more rigorous advanced bootcamp which is more selective. Please see the education tab in www.zkspark.io for more details on our education offerings. You’ll be happy to find out everything we provide is free! Our courses are made accessible thanks to sponsorships form the networks we support and through sponsoring partner companies.

RRobocop | Satoshi Club

What are you waiting Satoshi Clubber ? It's free, and you will get a lot of knowledge here

JJamie @zk-SPARK (Never DM You First)

haha, don’t delay! Sign up now!

AAndrés M. | Satoshi Club

Are the courses certificated? Can we added to the CV?

RRobocop | Satoshi Club

Usually how long a bootcamp will happen from the beginning until finished ?

AAndrés M. | Satoshi Club

Yes, let's join, knowledge is the most important asset

AAndrea M. Cosentino

indeed!

JJamie @zk-SPARK (Never DM You First)

Yes, you will earn a certification after course completion. We are in the process of forming a partnership with Triality who will help us with tokenising our course certificates down to the precise mark a course participant achieves in assessment. This way, future hiring partners will have more to go on when tapping into our Developer Community

AAndrés M. | Satoshi Club

Thanks for the clarification

RRobocop | Satoshi Club

Thank you for the answer @the_real_amc and @jamiezkspark

JJamie @zk-SPARK (Never DM You First)

Our introductory workshops will be covered in a weekend intensively, morning until afternoon. Our more advanced bootcamps will be spread out across a 5 week period, culminating in a project week, which is an opportunity for our students to demonstrate the skills acquired over the month of theoretical and practical instruction

RRobocop | Satoshi Club

It's really professional thank you for sharing this information with us

RRobocop | Satoshi Club

Are you ready for the next question ?

JJamie @zk-SPARK (Never DM You First)

Absolutely

AAndrea M. Cosentino

Go Go Go.

AAndrés M. | Satoshi Club

Q4 From Telegram User @Cengihaztekin I check that zk-SPARK will launch the mainnet on Q4 2022 and its already near. But before launching mainnet do you also have testnet to launch? Can you tell us about what user possible to do on your mainnet, what kind of feature do you have? Lastly when zk-SPARK will do privatesale, can you please share it with us?

AAndrea M. Cosentino

ok I'll take this one @jamiezkspark

JJamie @zk-SPARK (Never DM You First)

Go for it

AAndrea M. Cosentino

Hi @Cengihaztekin. So, you’re quite right. Mainnet launch is scheduled for Q4 this year, in line with zkSync’s own mainnet launch within the month. Some alpha I’m able to disclose with you now is that we will be releasing our launchpad platform on testnet inside the next week or two and you folks in the Satoshi club are some of the first people to learn about this! We aim to perform our first dummy token launch at some point in October and will be making further announcements on this in due course. There are quite a lot of things to list as to what features are available and I encourage you to check out the ‘Decentralised Crowdfunding’ section of www.zkspark.io as well as this section of the whitepaper for full details: https://zkspark.gitbook.io/docs/overall-documentation/decentralized-crowdfunding.

RRobocop | Satoshi Club

It's a honour that Satoshi Club become the 1st people to know about this, Thank you for this

AAndrea M. Cosentino

Our pleasure to share with such vibrant community

RRobocop | Satoshi Club

We will wait good news for next announcement about testnet

AAndrés M. | Satoshi Club

[In reply to Andrea M. Cosentino] Thank you so much, it is exactly what we wanted to see

RRobocop | Satoshi Club

so let's continue to question number 5?

AAndrés M. | Satoshi Club

Let's do it

AAndrés M. | Satoshi Club

Q5 From Telegram User @JesusFre1tes I understand that zk-SPARK is making the brightest and most exciting concepts and initiatives in the zk-Rollup space available to developers, creators and investors. My question is, what have been the novel tools that you have made available to all developers to flood the decentralized space with a litter of new disruptive and more functional dApps? What advantages does zk-Rollup provide compared to other development technologies? Thank you!

JJamie @zk-SPARK (Never DM You First)

Hi @JesusFre1tes! There are a number of novel mechanisms, tools and techniques particular to zk-SPARK. On the education front, we are the sole provider of advanced instruction on StarkNet and zkEVM technology. Our incubator is the first of its kind, nurturing baby startups across all major zk-Rollups of any sort of project, be it game, NFT, or DeFi project. Our launchpad employs a fair, anti-whale, reputation-based system which side-steps luck based lotteries by giving folks a second bite of the cherry to earn a greater allocation through non-financial means. For more information on our launchpad participation mechanics please visit www.zkspark.io and see this section of the whitepaper: https://zkspark.gitbook.io/docs/overall-documentation/decentralized-crowdfunding. We answer your second question comprehensively in this section of the whitepaper, entitled ‘The Blockchain Trilemma and the Case for zk-Rollups’: https://zkspark.gitbook.io/docs/overall-documentation/the-blockchain-trilemma-and-the-case-for-zk-rollups. There, we explain how zk-Rollups built on top of Ethereum pave the way for the holy grail in Blockchain scaling: by providing cheap, fast transactions without compromising on security and decentralisation. We also compare zk-Rollups with Optimistic Rollups and how, in our view, they are superior scaling solutions for such reasons as much quicker withdrawal periods.

AAndrés M. | Satoshi Club

Thanks for share it. Satoshiclubbers, let's check the info of the links

RRobocop | Satoshi Club

You mention about NFT project, do you have any development for NFT in the future since its hype now ?

JJamie @zk-SPARK (Never DM You First)

Yeah, we’re making it as easy to launch an INO through zk-SPARK as we are IDOs

RRobocop | Satoshi Club

Thank you for the answer, before we continue to last question from part 1, can you please share the roadmap zk-SPARK with us ? so we all can know all new future update from zk-SPARK

AAndrés M. | Satoshi Club

Yes, 6th question is knocking the door

JJamie @zk-SPARK (Never DM You First)

Yup, absolutely. Here’s the link: https://zkspark.gitbook.io/docs/overall-documentation/roadmap

RRobocop | Satoshi Club

Thank you for sharing

AAndrés M. | Satoshi Club

Q6 From Telegram User @Jsuanpranoto zk-SPARK is a decentralised crowdfunding platform for all project that build inside zk-Rollups, how will you choose a project that want to use service from zk-SPARK, did you filtering the project or all project possible to join without minimum requirement? How did you convinced that the project is safe for your community? Speak of safety, how is security from $ZKSK?

JJamie @zk-SPARK (Never DM You First)

Hi @Jsuanpranoto. Since we are an incubator as well as a launchpad, we will have a steady stream of incubatee projects launching on our launchpad in addition to fresh applicants. Our incubatees are, in a sense, pre-vetted, having undertaken our rigorous incubation programme. We will perform comparably stringent checks on our fresh applicants and we have a list of priorities we look out for which you can read here: https://zkspark.gitbook.io/docs/overall-documentation/decentralized-crowdfunding/our-priorities. Once a project has satisfied everything we look out for, without any exception, as well as passing our partner IDO platforms’ checks too, we then pass our recommendation to the DAO for a community vote. This way, even if the community doesn’t have total confidence in zk-SPARK’s view and the view of our partners on a sale, we are empowering the voice of the community to pass or block a decision. Check out this section of the whitepaper to understand how this works in further detail: https://zkspark.gitbook.io/docs/overall-documentation/decentralized-crowdfunding/the-dao. Note that our eventual goal is to pivot our DAO towards a non-financially based system of governance, in line with Vitalik’s vision of using SBTs as a means to participate. This way, we can determine whether an individual is sufficiently qualified to make a call on the substance of a project, rather than participate simply because they hold sufficient funds. Security is of utmost importance to us at zk-SPARK and we have carefully created our smart contracts to be as secure as possible. For example, funds are fully controlled by zk-SPARK so it is impossible for an IDO owner to abscond with them. Furthermore, our contracts are safe from reentrancy attacks, which means you can rest assured you are participating in a highly secure, bulletproof project.

AAndrés M. | Satoshi Club

Have you done any audit process to guarantee the integrity of the platform?

RRobocop | Satoshi Club

Awesome, thank you for make security your main priority

JJamie @zk-SPARK (Never DM You First)

We will be having all of our contracts audited very soon!

AAndrés M. | Satoshi Club

Great, we will be waiting for more news about it

RRobocop | Satoshi Club

Thank you @the_real_amc and @jamiezkspark ! It's really impressive answer for the part 1 of AMA.

RRobocop | Satoshi Club

Now we will begin to start the second part of AMA with Live section from community. Are you ready for the rain of question?

AAndrés M. | Satoshi Club

Well, this first stage of the AMA has been epic

JJamie @zk-SPARK (Never DM You First)

I’m hoping for a downpour

AAndrés M. | Satoshi Club

[In reply to Robocop | Satoshi Club] Prepare the umbrellas

RRobocop | Satoshi Club

We will open chat for 120 second, please wait until chat close after that choose 10 best question and answer them

JJamie @zk-SPARK (Never DM You First)

Got it!

RRobocop | Satoshi Club

We will open chat in 5

Show more

Part 2 — Live questions from the Telegram community

b@braddey

Mass Adoption is Very Necessary For the Success of projects, So May I know What is Your plan to get MASS ADOPTION , AWARENESS and Recognition For this Project ? Do You have Strong Marketing plan ?

JJamie @zk-SPARK (Never DM You First)

Definitely agree on that point. A strong marketing plan is absolutely pivotal in making or breaking a project. And that’s why we are allocating the majority of our funds towards this: Paid ads, SEO, PPC, roadshows and events, you name it. We also want to leverage influencer marketing as well as we feel it’s necessary to build our brand further. Equally, we want to create educational and episodic content to make our ecosystem more reachable

t@thuykieuthuyvan

How will the demand of zk-SPARK increase in the future? Or what steps will zk-SPARK take to increase the demand of the project?

JJamie @zk-SPARK (Never DM You First)

Nice question @thuykieuthuyvan. To answer this, I’d like to point to one of our unique differentiating factors: how we release funds to the projects we launch. Time and time again we see projects performing initially well before the price begins to drop and peter out. To avoid this pattern and foster sustained token growth in our projects, we only release funds once the project has met certain milestones and KPIs the community is happy with. This forces the project to continue to deliver on their product and in turn should lead to more sustainable growth and success of their project. The performance of zk-SPARK rests entirely on the success of our projects, so we believe this will go along way towards our own success.

P@Prisha234

What is this DEV community and is THEIR and way to earn the rewards or we can say that earn the money 💸 through this platform ? What is this Hackathons tell us some more about?

JJamie @zk-SPARK (Never DM You First)

We are in the process of formalising a partnership with a StackOverflow-like solution of questioning and answering for token rewards. The idea is to plug into their API allowing members of our Dev Community to earn $ZKSK token rewards

j@jahid749

Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?

AAndrea M. Cosentino

We are taking a global approach across each of the core tenets of the business. Our courses and hackathons are remote, which means anyone, anywhere can participate. Our incubator is remote-first, although we will provide coworking space for teams in the same location. Our launchpad approach will be global too, so far as participants are citizens/residents of countries permitted to participate in IDOs. Our marketing approach will be geographically-agnostic and we are looking to grow our communities in every country possible!

R@Ratash97

What is the purpose of the dummy token you are planning to launch ?

JJamie @zk-SPARK (Never DM You First)

The purpose of the dummy token launch is so that we can test the rails of our launchpad infrastructure before releasing it fully on mainnet. We believe this as a crucial step to ensure safe and secure initial launches for our community

h@hihohiho140699

You have Said that INCUBATION is our second core mission So , Will You Please tell us More about INCUBATION and What three main purposes the INCUBATION of ZK SPARK will Serve ?

AAndrea M. Cosentino

Following on from our courses, we aim to nurture new projects through our incubator. The three core pillars of our incubator are: - Business and Product Development: An idea is worth nothing without a market and a go-to-market strategy; - Technology: providing support in Cairo and the nuances of building on a zkEVM; - Marketing and Community Management: to make the most of the network effect of a community.

A@Ask4Unik

From your roadmap Q4 2022 you made mention of "MORE HIRING",so I would like to know what what vacancies is available for one to apply?Do you have an ambassador program?What kind qualifications are required for application?Do you also have any influencer role one can apply for in zk-SPARK?And lastly when will the hiring process begin? explain thanks

JJamie @zk-SPARK (Never DM You First)

We are actively looking for someone with Product Management experience to join our in-house incubatee mentorship team. We are also looking for another permanent member of our tech team too. If you’re a Solidity/Cairo developer we’re interested in speaking with you! Please see our careers section at the top of our website

c@cetes_vx

How do you attract every start up crypto project to do crypto incubation in ZK-Spark ecosystem ?

AAndrea M. Cosentino

We will leverage: - Reputation & Credibility from our strong core team and mentor network. - Partnerships with key players in the space, especially communities closely aligned with our partner zk-Rollup networks. - Marketing & Influencer engagement.

K@KevSalom

Why did the zk-SPARK team decide to offer 3 services in one project? What are the advantages of offering them together and not separately?

JJamie @zk-SPARK (Never DM You First)

Great question. Rather than providing education alone, or only handling the launches, or working with startups at no point until their fundraising begins, we are there throughout the process. Just think of the benefits builders and founders can reap from this, and, in turn, the quality of the projects you, as an investor and contibutor, can also benefit from this: we’ll teach you how to build the dApp, we’ll hold your hand as you build it out, and we’ll provide the launch facilities to help bring it to reality. All this inside one closed ecosystem will ensure the healthiest, most robust projects.

G@Gemshunter22

Can I do both flexible and lock period staking together? Also ,is 20% tax fixed or it can be changed?

JJamie @zk-SPARK (Never DM You First)

Thanks for this question, I think it’s an important one to answer. Users can have multiple, different types of stakes, they’ll just be in separate pools. For example, in your case, you could stake in flexi and have a separate stake in the locked pool. All parameters are configurable so yes, in theory, the 20% tax could be changed. We will continue to monitor the situation and how this plays out

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.

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