Today we would like to tell you about the AMA session with our friends from Odinala Network. The AMA took place on October 9 and our guests were Emmanuel, Prof. J, Snazzy O, Tony, Zubair and Kaiser M.
The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.
PART 1, INTRODUCTION AND COMMUNITY QUESTIONS
Mary | Satoshi Club: Hello, again Satoshi Club! We are happy to announce our AMA session with Odinala. Welcome to Satoshi Club.
Emmanuel: Hey guys.
Prof. J: Hi Guys thanks for having us.
Mary | Satoshi Club: You’re welcome. Ok, please tell us more about yourself and how did you start with Odinala project?
Prof. J: Sure no problem. We are a group of friends some of us grew up together in Ireland, while some of us met in college. we went our own ways and reconnected for this project Odinala through our mix of expertise we kicked off this project which is set to revolutionize the real estate Industry.I’m Joseph, I’m currently a project manager at one of the world’s largest market research firms which specializes in financial services and Management consulting. I have a background in property and real estate management and acquisition, while also being an avid crypto trader and blockchain fan. I have a professional and academic background and hold a masters in Business and my main role here is strategy, business development and building partnerships with relevant property personal and entities.
Snazzy O: Hello everyone, I’m the marketing exec here at Odinala. As a serial entrepreneur I have worked with several blockchain companies in the past, partnering with companies and organizations such as the World Health Organization and the ZSE. As marketing exec for Odinala I am in charge of social media marketing, outreach, and business development.
Tony: Hello everyone, it’s Tony here. I’m currently stationed in Dublin, the capital of Ireland. I’m a Software Engineer at one of the world’s largest financial management and human capital management software vendors. Companies like Oracle and UltiPro are the company’s competitors. My main focus is software resiliency and improvements. I’ve climbed up the ladder pretty quickly in such a short amount of time as a result of my work ethic. My latest role on the team is marketing and reaching out to some other crypto professionals in the space to ensure that our sales run smoothly prior to launch.
Zubair: Hi Guys I am Zubair, the lead blockchain developer on Odinala. My crypto experience started in 2017 when I met one of the lead developers for Z-Coin and started working on a stable coin backed by a basket of different currencies, since then I have consulted on different crypto projects from track and trace projects on hyper ledger’s sawtooth and tokenizing metals on Stellar. I have presented at Ethereum meetups here in Dublin and also have a lot of experience in pitching crypto currency projects to Angel Investors. I am really excited today to talk to you about Odinala.
Kaiser M: Hi guys, Mike here. I’m part of the Odinala technology engineers. I’m currently working for one of the biggest insurance companies in the UK as part of the technology team at HQ in London city. I’m a blockchain enthusiast and believe the future of blockchain is now. Experience working in both start up and corporate ecosystems both home in Dublin and abroad in London has nurtured my love for innovative solutions driven technology. Prior experience working with the Ernst & Young tech team. UI/UX, tech digital assets and innovation have driven and cultivated me to acquire a broad technology based skill-sets adaptable to real world problems.
I’m excited to be here with the Odinala team answering your questions.
Emmanuel: And for myself. I am Emmanuel, head of communications with the odinala network. My background is in Enterprise computing and software development. I am a crypto enthusiast and early investor in this space, co-founding a blockchain based startup in Ireland.
Since then I have been involved in several crypto projects working in both marketing and raising funds for projects. Currently based in Luzern Switzerland and working as a Senior IT Consultant at the digital factory of one of biggest banks in Switzerland. I am responsible for marketing coordination and sourcing investors for our project here in Switzerland.
Mary | Satoshi Club: Thank you guys, amazing intros) and our community prepared a lot of questions for you) ready to answer them?
Prof. J: Yes happy to answer them.
Q1 from bitcointalk user Fivestar4everMVP
There are many blockchain Startups aiming at bringing real estate to blockchain, some of this projects have been abandoned, some are still struggling to stand while some ended up as exit scams… My question is, how do you plan to make your project stand out from the rest and also successful?
Snazzy O: This is simple. Let me explain. We realize that there are a number of real estate/ blockchain companies on the market today. ODN is unique in many ways. One of the major things we have is our marketplace. This model really opens up the real estate industry to any type of investor, breaking the barriers to entry and disrupting the industry as-is. It makes ODN one of the first truly remote & digital real estate brokerages offering NFT in the form of real estate to investors…
Each property will be its own company, tokenized on the blockchain (AKA ODNH01). Users who buy the tokens of that property will own a share of the house, i.e. 1 ODNH01 token = 1 share of that house/company. The number of tokens allocated to that property would be equivalent to the cost of the property (plus our commission). Once all tokens for the property/company are sold, the house is sold. We are partnering with world leading firms who aim to provide their assets on our marketplace to forego the brick and mortar real estate industry that can be very slow and expensive.
Mary | Satoshi Club: So, i will be able to own 1/10 of the house?
Snazzy O: Yes basically. This will also allow you to receive 1/10 of the rental payments made by any tenants the Odinala management company puts in said house.
Mary | Satoshi Club: Why not one token for one house?
Snazzy O: Because if you get 1 token for the house you own the whole house 😂 ODN is all about fractional ownership meaning many people can share from 1 – equality for all!
Q2 from bitcointalk user elissa
You aim to do the digital transformation of real-estate, by tokenizing these assets. I am curious what happens if a real estate crisis happens like in 2006-2007? How exposed would we be?
Emmanuel: There are many risk factors associated with any type of investment, cryptocurrencies included. These risks span operational, regulatory, market-based, and technological challenges. The main thing about odinala is we aim to be global and allow our users invest in real estate through different areas of the world
If a crisis like the housing crash was to occur the property would still be owned by the token holders, however their yield would decrease reflecting the market conditions and value of the property in its jurisdiction. Token holders can sell their tokens to other investors around the world, still making gain from their assets. We will be avoiding loss in the case of a downturn by only seeking long term rental agreements rather than short term.
Q3 from Telegram user @max_serbov
I invested in one project last month with a team which is not public and I lost my funds… I can say that I invested in some with faces which are not public but got a profit. So, how can we differentiate? How can I know which project with an incognito team is legit and which is not? Why you have chosen to stay incognito?
Emmanuel: Great question the reason we chose to be anon is due to current work obligations, i myself work with a massive Swiss bank as a consultant works on a tokenization platform. With my current contract i cannot legally work on any other project. We understand the fear of the community and new investors but i would like to remind you all the all elusive famous creator of bitcoin has never been identified.
Mary | Satoshi Club: Ok, guys, but Satoshi didn’t make any sales.
Emmanuel: We appreciate the concern and aim to be as transparent as we can be in relation to our progress and updates as you can see on our website we have already confirmed and highlighted 3 partnerships including ferrum network. Also we have partnered with two big names, one team member zerocoin and an investment firm. They wouldn’t partner with frauds.
We are working to gain the trust of our community, please join the odinala network and have your voice heard.
D. | Satoshi Club: In other words you must choose for yourself. if you believe in the project put your money into it, if not, just don’t do it.
Snazzy O: Each partner that we have known us personally.
Emmanuel: We have already planned to go fully public during the launch of our marketplace and we have invested our own time and money to grow ODN till date.
Q4 from Telegram user @Jonahapagu
You recently partnered with ferrum network to provide staking for ODN tokens and participants who stake their tokens will earn high yield based on the lenght of time staked… what will be the requirement for users to stake ODN using Ferrum Network do you have an illustration of the process?
Zubair: The staking requirements will be a minimum time period staked, for ease of use Ferrum have their own wallet that our users can use for staking, the staking and integration details are still being finalized so keep an eye out on our channel for more details soon.
Snazzy O: Our tokens will be staked for a minimum of 6 months and users will be able to stake their tokens via the unifyre wallet.
Emmanuel: The main thing we love about ferrum are that they have several characteristics as that enable a seamless staking experience:
1. Pool Based – it is participated with many contributors in each staking contracts.
2. Flexible – a user has different options to make, either withdraw early, stake until full maturity, or withdraw somewhere in between.
3. Strategic – means, the longer you stake the bigger reward you will received. If other participants withdraw early, you will receive a portion of their reward.
But as said please wait for an announcement and blog of the final details of the partnership. We are aiming to go live before the start of November.
Q5 from Telegram user @AmirJosh
“Odinala investors around the globe can buy into the real estate market through fully-compliant, fractional, tokenized ownership viewable on the blockchain.” Will the country that the real estate assets the buyers acquired will recognized or honor them as a legal owner? And will the owner should pay real estate tax once the ownership is settled?
Prof. J: In order to legally tokenize a property within the Odinala framework, we will follow proper regulation to bridge the gap between ownership of a distinct real property and the digital tokens on the Ethereum blockchain that represent that property.
First, we aim to establish Odinala Ltd as a limited liability company by filing a Certificate of Formation with the Companies House in the United Kingdom. This LLC Certificate of Formation allows for the unlimited segregation of membership interests, assets, and operations into independent series, each of which is treated as a separate entity.
Snazzy O: Yes they will. In fact, due to the uniqueness of our model, users who fractionally invest via our marketplace will be legally recognized as owners of said property. The way in which Odinala tokenizes assets allows the asset to be publicly owned by anyone within the country the asset is in. All Tax in different jurisdiction will be covered by the Odinala property management company – regardless of country.
Mary | Satoshi Club: So, Odinala Ltd already exists or it will exist in the future?
Snazzy O: Not yet, but soon 😊 Once all presales are finished we will list the coin on Uniswap and incorporate the company. At this point the team plans to come public as well.
Mary | Satoshi Club: Is this a huge amount of work? Have you already started looking for employees in this field?
Emmanuel: Currently the ODN team and partners are growing by the week. We currently aim on partnering with real estate companies and construction contracts in Ireland, UK, Switzerland and Spain. When Odinala Ltd is established we will aggressively seek investor to scale and hire more employees.
Q6 From telegram user @stekbyte
The site says holders of the Odinala token will be whitelisted for first assets on the platform and enjoy 5-15% discount on assets in marketplace. How many tokens do I need to buy to get a discount?
Snazzy O: PRE – SALE 1 — (1,500,000 ODN (18.75 %): 1 ETH = 4053 ODN
PRE – SALE 2 — (500,000 ODN (12.5%): 1 ETH = 3695 ODN
PRE – SALE 3 — (500,000 ODN (12.5%): 1 ETH = 3359 ODN
PUBLIC SALE: 1 ETH = 2925 ODN
Kaiser M: We advise strong hands as this has not been finalized. The vision we have for ODN token is that our community partake in long term holding with high potential to not only get return on investment, but as the community grows and we continue to work on our technology we can give potential investors more incentive to hold ODN token. 1 ETH = 2925 ODN. The more you hold the more you get rewarded.
Mary | Satoshi Club: How many ODN will ever exist?
Zubair: Our total supply is 8 million ODN no new tokens will be minted.
PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS
The chat was open for 80 seconds; a lot of questions were posted by Satoshi Club community. Our guests chose some of them.
Q1 from Telegram User @Splendicity
I am into estate management. One of the barrier in estate management is government regulations. My question is this. Can odinala network solve or bridge this? Does government recognize odinala as a legal entity?
Snazzy O: Each property will be its own company, tokenized on the blockchain (AKA ODNH01). Users who buy the tokens of that property will own a share of the house, i.e. 1 ODNH01 token = 1 share of that house/company. The number of tokens allocated to that property would be equivalent to the cost of the property (plus our commission). Once all tokens for the property/company are sold, the house is sold. Each owner of that property/company’s token will be recognized as a legal owner of that property.
Q2 from Telegram User @yadav_199
Where I can buy Odinala token?
Zubair: Our presale 2 is live right now go to https://odinala.io/ and buy with MetaMask (minimum 0.05 eth purchase required).
Q3 from Telegram User @surendra040
Where can I see your roadmaps and tokeneconomics?
Tony: Q2 2020
- Private fundraiser for the project launch
- Development team formation
- Targeted market research
- Economic Regulation Analysis
- Website goes live
- Finalised whitepaper and launch
- Partnerships & Advisors formation
- ODN Token Sale
- Initial Exchange Listing
- Multiple exchange listings
- Github Code release
- Smart contract auditing by 3rd party
- Staking Goes Live
- Full Marketing Campaign
- End to End Testing & Launch of Odinala Marketplace
- Development of Odinala Mainnet
- Partner with financial institutions in target markets.
- Finalise Development of Odinala Mainnet
- User testing of Odinala Dex
PRE – SALE 1 — (1, 5 0 0 , 0 0 0 O D N (1 8 . 7 5 % ) : 1 ETH = 4 0 5 3 O D N
PRE – S A L E 2 — ( 5 0 0 , 0 0 0 O D N (1 2 . 5 % ) : 1 ETH = 3695 ODN
PRE – SALE 3 — ( 5 0 0 , 0 0 0 O D N (1 2 . 5 % ) : 1 E T H = 3359 ODN
PUBLIC SALE: 1 ETH = 2925 O D N
Q4 from Telegram User @moizkhan3344
Explain benefit to holding OdinalaNetwork?
Kaiser M: Our token can be used to pay for fees on our decentralized exchange platform and it will be used in the voting events and modification related to the Odinala Ecosystem. For example early adopter of our platform will enjoy a 5-15% discount from the investment made on the ODN Marketplace. Dependant on the number of tokens staked by the user 20% of all fees generated on both odinala DEX will be distributed to users who stake their tokens on the platform. Exclusive access in Odinala airdrops, rewards, and community competitions.
Q5 from Telegram User @Jasodadaiya
Are you focused on the market? or focus on something else, for example your platform development and users or partnerships? What are your global expansion plans?
Emmanuel: We are very focused on the market, we believe ODN will grow due to the fact that we have created a well-researched marketing plan and have already hired a marketing specialist and are in the process of finalizing a full marketing campaign to begin in Q4. This will consist of Content Marketing, Paid Social Marketing, Incentivizing virality, Strategic Partnerships.
Content Digital Marketing: We will strategically release content across Twitter, Telegram, Instagram, and our bi-weekly medium blogs. This will consist of information on the exclusive competition, quizzes, infographics updating users on the status of our platforms… Using our blogs and content we hope to continue building a place where potential investors can learn about the platform and join our community. We have also built partnerships with different telegram groups to help grow our community and promote the network.
Paid Social: Paid marketing will also have a big role to play in our marketing plan, in particular Crypto influencer. We have researched with our team and created a list of key influencers and groups within the crypto space. We have already worked with two big influencers in the crypto space, and we have other popular influencers in our pipeline to be confirmed.
Incentivising Virality: An advantage our product has over many other platforms is that we plan to incorporate a referral program, which means people invite their friends to join the platform to earn rewards. Therefore we have an opportunity to encourage people to invite their friends which can help the viral nature of our products. We will integrate social media into a platform that makes it easy for users to send a link to their friends via Facebook messenger or WhatsApp. Through our referral program, we will incentivize people to invite their friends to our platform thus reducing our Cost Per Acquisition (CPA).
Partnerships: Our most recent investor brings on board over 30 years of consistent entrepreneurial track record and building sustainable businesses cutting across Engineering and Multimedia. We are already in talks of partnership with other companies in the Smart Dubai Initiatives. With the help of partnership and strategic advisor Odinala will be able to scale our business globally over the coming years.
Q6 from Telegram User @solankinishu
Can you please tell us What benefits will we get, if we buy #ODN tokens in the pre-sale period? and do you have any rewards for the most #ODN token holders?
Prof. J: Tokens Use Cases
Our token can be used to pay for fees on our decentralized exchange platform. It will be used in the voting events and any modification related to the Odinala Ecosystem.
An Early adopter of our platform will enjoy a 5–15% discount from the investment made on the Odinala Marketplace (depending on course on the number of tokens staked by the user) 20% of all fees generated on both Odinala DEX will be distributed to users who stake their tokens on the platform. All in-app subscription features can be purchased on our platform using the native token. Exclusive access in Odinala airdrops, rewards and community competitions.
Q7 from Telegram User @Cristal1501
Is it safe to shop at Odinala Marketplace? How can I be sure I’m not buying from a scammer? Do people who want to sell products on Odinala Marketplace need to pass some kind of KYC verification?
Snazzy O: It will be 100% safe. First of all, every user (vendor and investor) on the odinlala marketplace will have to do KYC with us. Only after we verify the legitimacy of that individual or organization will they be allowed to buy or sell property via our marketplace.
Q8 from Telegram User @topind7
Where did you coin the ” ODINALA ” from and what does it mean?
Zubair: ODINALA is an African proverb which means to take ownership. ODN tokens allow you to own real estate so the name captures our values and purpose.
Q9 from Telegram User @moizkhan3344
Explain future plans for OdinalaNetwork.
Tony: We will be working with a mixture of contractors and external consultants to oversee the legal aspect as well as doing an audit of the current system to ensure and minimise vulnerabilities in our smart marketplace.
We have already began working on partnerships to ensure we have a steady pipeline of attractive assets for our community to engage with and already have to confirmed partners both based in Europe and are currently in talks with additional developers to expand our network even further.
Q10 from Telegram User @Jasodadaiya
Are you focused on the market? or focus on something else, for example your platform development and users or partnerships? What are your global expansion plans?
Emmanuel: Really liked your questions mate, please check out our whitepaer and join the ODN community. cead mille failte.
Q11 from Telegram User @trader0fficial
What is the Total Supply of Odinala Network?
Kaiser M: 8 Million Tokens.
Q12 from Telegram User @AMA_Magnet
Is odinala available in every country?
Snazzy O: Yes our marketplace will be available globally for investors regardless of the geographic location of the property they wish to invest in.
Q13 from Telegram User @Raju4200
How do you evaluate the support from community? What is your strategy to marketing and for Mass Adoption? What message do you want to send to community through AMA to day?
Tony: We’ve spent a lot of time and effort engaging with the community on many fronts and we feel that we’ve been successful in the organic growth of members. For example, our community has grown from 920 members to over 1700 members in less than a week. AMA’s have been pretty awesome for us as they help us gather community concerns and they help us gauge the areas in which the community is lacking information about our project. AMA’s along with influencer marketing have been our two main choices for marketing! Community engagement is something we value because the project is only as strong as its community. So far we’ve spent around $2700 for AMA’s and around half of that has been distributed in rewards to the community members.
Right now, we actually have 2 campaigns running. We’re running a Meme/Gif competition (which ends in 2 days) and a Bounty Campaign (also ends in two days). $1100 to be won. You can join @OdinalaNetwork and @OdinalaNetworkAnn to find out more about the competitions. We have plenty more in the pipeline which we’re pretty excited about. Be sure not to miss out! We’re always looking for fresh ideas too so if you have any competition ideas, don’t hesitate to message me on the side.
PART 3, QUIZ AND INFO
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Odinala Network. A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 300$ were distributed between the winners. Please check the winners list here:
For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru
Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Odinala Network: https://t.me/OdinalaNetworkAnn