Sperax x Satoshi CLUB AMA Session 18 feb 2021

Sperax heder

PART 1. Introduction of Sperax Foundation heder project and community questions.

Hello, Satoshi clubbers and guests of this site. We are happy to present you with a project, which has a mission, is to make decentralized financial services available to all citizens of the world.

The plan of AMA session:

  1. Part – Introduction and preselected questions.
  2. Part – Live questions
  3. The Quiz about Sperax Foundation

The reward pool is 500$

Leading the AMA our clever and fun admins:

Mary | Satoshi Club – @madamlobster and Gold Rocket | Satoshi Club – @GoldRocket27

The Representative of the project:

Zhou Yu@yuzhou87 – Joe, co-founder of Sperax

Introduction of Sperax project.

Mary | satoshi club:

Hello, again satoshi club! We are happy to announce our ama session with Sperax! Welcome to satoshi club😀

Gold rocket | satoshi club:

Good evening, dear community! We conclude our today’s ama marathon series with Sperax.😊

Today our guest is @yuzhou87!

Mary | satoshi club:

We are happy that we have a project which regularly comes back to our club with updates 🚀🔥

@yuzhou87 welcome to satoshi club!

Zhou yu:

Hello everyone glad to be here

Gold rocket | satoshi club:

Welcome to satoshi club @yuzhou87!❤️

Mary | satoshi club:

Hello! How are you today 😃

Gold rocket | satoshi club:

We are glad to have you here today 😃

Zhou yu:

Haha, I’m good. Thanks for asking

Mary | satoshi club:

Could you please introduce yourself to our community and tell us what new happened with Sperax since your last visit in September?😉

Zhou yu:

Sure would love to.

I’m joe, co-founder of Sperax. Sperax is a blockchain project that originates in academia and focuses on finance. We originated in 2019 with our new BFT consensus protocol BDLS which can promise higher performance and better security in real internet. We launched our testnet in Dec 2020 with over 700 people voluntarily set up our nodes and ran Sperax blockchain testnet

Now as we are getting matured on infra, we changed our focus on the product side

Our current main focus is two: USDS, our hybrid stablecoin that combines the strengths of both crypto-backing and algo-adjustment

And the second is what I will bring to here today: Sperax play!

Mary | satoshi club:

Wow!

Zhou yu:

Haha ya I can keep talking these forever so better interrupt me

Mary | satoshi club:

Sperax play is what we are excited very much about! But you can😂

Gold rocket | satoshi club:

We really want to explore this issue as much as possible😉👍

Zhou yu:

Hahaha sure maybe let’s talk about the play.

Gold rocket | satoshi club:

If you’re done with the intro we can go to the community questions😉

Zhou yu:

Ya let’s see what our community has for us.

Preselected questions about the Sperax DeFi project.

Gold rocket | satoshi club:

Q1 from telegram user @highpee

Sperax play app is described as a community hub for friends and it is available for download. I see the app as a decentralized wallet but am not sure how it is going to be a community hub. Is it going to have a social function where community members come together for interactions? What are the special features included in this app apart from being a wallet? I also saw that it’s possible to share my referral code and invite others to sign up for the app. For how long will the referral campaign last and what will I benefit from referring others? And as a non-custodial app, why am I only able to create an account with only email or phone number and how is my login detail secured?

Gold rocket | satoshi club:

By the way, I installed the app. And it looks great😁👍

Zhou yu:

Haha glad that you like the design. I like it too!

Mary | satoshi club:

Did you use my ref code?😉

Zhou yu:

Since there are lots of questions here, I will pick out and answer the ones that might benefit the most people

Gold rocket | satoshi club:

Yes, it looks quite convenient and simple 😉

Gold rocket | satoshi club:

Sure dear 🤗

Zhou yu:

Sperax play is way more than a wallet. From day 1 we view it as a hub or, in my own words, the main entrance to the Sperax world

We need the wallet since Sperax is a crypto world. And the wallet basically serves as your identity and money bag you carry around this world

Mary | satoshi club:

Yes, that’s right 😀

Gold rocket | satoshi club:

What currencies do you support?

Zhou yu:

In fact, we finish the wallet partway earlier. Most of our efforts are put on another module in play — we call it Snowball

Mary | satoshi club:

Yes, I see it in my Sperax play🔥

Zhou yu:

Snowball in a nutshell is a “cloud mining” where you mine reward points that would be converted into cryptos in our later events

Gold rocket | satoshi club:

Tell us more about this, please

Zhou yu:

Sure. And we really want to get rid of all those pow energy costs, so we intentionally make the design to be that you “click” to mine. Especially, when you click “activate” on the snowball page, it starts mining without causing you any electricity. The only thing you need to keep in mind is to “reactivate” it after every 24 hours

Moreover, there is a fun game in Snowball. This is also where the “invite code” comes in.

Mary | satoshi club:

Where can I find it?😀

Gold rocket | satoshi club:

I already want to try this 😁👍🚀

Mary | satoshi club:

Sperax snow ball

Is it on this page?

Zhou yu:

Yes you got me

So whenever a friend of yours register a play with your invite code, he or she will be on your snowball team.

Mary | satoshi club:

👍👍👍

For v1, a snowball team is essentially your own hub within the Sperax hub

Zhou yu:

And it even is “profitable”

Mary | satoshi club:

How?

Zhou yu:

That is, the more team members you have, the higher your mining rate. I think for the detailed formula you can easily find it on the play. In the future, we would include more games surrounding this snowball team gadgets, So better prepare early 😀

Mary | satoshi club:

Gotcha! 👍 will try to get as many players as possible! In my mary team😂

Gold rocket | satoshi club:

I’m in it 😁

Zhou yu:

Hope I answered your major concerns 😀

Gold rocket | satoshi club:

Thank you so much! Ready to proceed to the next question?

Zhou yu:

Np! Always love talking about the play, Sure.

Gold rocket | satoshi club:

Q2 from telegram user @asalas95

Harmony protocol is a project focused on scaling trust and creating a radically fair economy, and a few days ago Sperax partnered with them. What is the purpose of this partnership? What problems do both projects hope to solve together? What is the story behind this collaboration, how did it come about?

Zhou yu:

Haha asalas95 must be a close follower of Sperax

Mary | satoshi club:

Of course, 😂 he read carefully

Zhou yu:

Ya, we just had this partnership. In fact, the two teams got in touch way earlier than this

Gold rocket | satoshi club:

Satoshi clubbers really like Sperax❤️😉

Mary | satoshi club:

Harmony is an awesome project! We also had them here👍

Zhou yu:

I still remember doing a video panel with nick back in the summer of 2020.

Gold rocket | satoshi club:

Good memories😊

Zhou yu:

Also the panel, behind the chain, with Stephen.

Mary | satoshi club:

Do you have this video?

Zhou yu:

Ya it’s on Sperax website

Check it out 😀 the fun conversation around layer1 and DeFi.

Mary | satoshi club:

You were early in DeFi 😉 We will definitely check it!

Zhou yu:

Haha ya anyway, let’s back to the question. So the current partnership between us would first start around a joint-effort to promote women in the blockchain space. We call it a lifting program. Frida and Alec are leading this great effort. If you are interested, definitely talk to them.

I can give some hints here. Basically, it would be a grant program that encourages any women-led project in the blockchain space. It can be DeFi, NFT, layer1, layer2 and so on

Mary | satoshi club:

Of course! It’s worth everyone’s attention! Super initiative! @goldrocket27 it’s a hint😂

Mary | satoshi club:

Thank you! Actually, our third question is a lengthening of this😉

Gold rocket | satoshi club:

And can I also participate in the competition for a grant?

Mary | satoshi club:

Yes, and in the answer to the third question we can get an answer😂

Zhou yu:

Sure always welcomed haha

Gold rocket | satoshi club:

Sure🚀

Gold rocket | satoshi club:

Q3 from telegram user @arisabela

Lifted is your first grant initiative, it’s just amazing that Sperax recognized the valuable contributions for “women in tech” and there’s more to come like the introduction of the idea that each team must have one woman in its leadership, how are you planning to make this idea popular among DeFiworld and attract more women with tech talents to participate?

Mary | satoshi club:

Only tech talents?😂 If we are simply beautiful?😂 And clever😂

Gold rocket | satoshi club:

You are very smart. And beautiful. One of the most professional crypto ladies I know of.❤️

Zhou yu:

Haha again, I can only offer some hints. I am sure Frida and Alec will like this question so definitely reach out to them.

Mary | satoshi club:

Ok, we will😂

Zhou yu:

We plan lifted to have 4 phases.

Phase 1 would be around DeFiprojects, phase 2 on blockchain economics, phase 3 on the university, and phase 4 on interoperability. Harmony partnership belongs to phase 1

We are actively talking with the University of Michigan, the University of Florida for the university phase.

Mary | satoshi club:

It’s really amazing initiative!

Zhou yu:

It surely is

Mary | satoshi club:

You are very resourceful lifted, Sperax play 🔥

Zhou yu:

Haha, let’s see what other questions the community has!

Mary | satoshi club:

I think your users are really happy that they are part of such a community! @goldrocket27 shoot🚀

Zhou yu:

Thanks, Mary.

Gold rocket | satoshi club:

Q4 from telegram user telegram user @brainchest

Now everything rotates around DeFi, NFT, Polkadot. Moreover, NFT has created a lot of different platforms, DeFia lot of yield-farming pools, what innovative things can you offer? Will you launch a service that is not yet on the market or will you offer improved versions of an existing one*

Zhou yu:

Interesting to see this question covering DeFi, NFT, and Polkadot. I mean, all three in one. Sperax is actually actively talking to parity, i.e. Polkadot. They are very interested in our Stablecoin USDS

More info would come out soon. For NFT, this is one of the focuses for the next version of Sperax play.

Mary | satoshi club:

Wow, we should wait for the announcement?😉

Serg | satoshi club:

@yuzhou87, just wanted to come and say hello 😀 really nice to see you here 🤝 good luck with the ama

Zhou yu:

Hi Serg, long time no see!

Mary | satoshi club:

Really? I am your user forever😂

Serg | satoshi club

I am glad everything is ok and you made great progress with Sperax 🤝

Zhou yu:

Haha, it is true. We are building a great NFT interface in play right now

Zhou yu:

Thanks, Serg!

Mary | satoshi club:

Super!

Zhou yu:

As for DeFi, I mean, it is always the focus of Sperax

Mary | satoshi club:

Yes, stablecoins and DeFi😉

Zhou yu:

Back to the question, I feel other than innovation on each product, for example, snowball in play, we differentiate from other projects that we are actually building an intertwined ecosystem or I prefer to say “Sperax world”. We want every product to connect to each other than release their greatest potentials, And release*

Mary | satoshi club:

It’s a pleasure for everyone to be a part of it😀 enjoy and earn with your friends

Gold rocket | satoshi club:

https://medium.com/sperax/all-you-need-to-know-about-the-automated-market-maker-protocols-amm-5be4b14b677a

I really like this article

Zhou yu:

Haha ya it is written by one of our brilliant female researchers, susu.

Mary | satoshi club:

Yes, you are lucky with brilliants😃 Thanks Zhou yu for your answers! Ready to go to the next question?

Zhou yu:

For sure!

Gold rocket | satoshi club:

Q5 from telegram user @cengizhantekin

Sperax is using BDLS. Is that a brand new consensus or an enhanced version of a known previous one? How is the mechanism of this consensus? What are the advantages compared to the popular systems? And do you have any partners who already benefit from Sperax BDSL protocol?

Zhou yu:

You can also just call me joe if you like😉

Mary | satoshi club:

Of course!

Gold rocket | satoshi club:

Nice, joe! 😊

Mary | satoshi club:

This question will be for our newcomers, who missed previous amas😉

Zhou yu:

Bdls is how Sperax originates. It is a brand new BFT consensus based on Polkadot’s grandpa, cosmos’s  Tendermint, Algorand, and libra’s hotstuff

It secures its network in the real internet environment (type ii partially async network) with high performance, i.e. 5-7 sec block finalization time

Mary | satoshi club:

Do you cooperate with the above projects?

Zhou yu:

We are definitely talking to them but since we have not launched our mainnet yet, solid collaboration would be in the future. Got it! Can’t imagine what will it be! Something huge😉

Zhou yu:

Haha ya, Maybe another question on the play?

Mary | satoshi club:

We have one more for this part😃

Zhou yu:

Sure

Gold rocket | satoshi club:

Q6 from telegram user @jesusfre1tes

Sperax is on a mission of mass blockchain adoption. But what are its marketing strategies and business strategies to achieve the desired impact on communities still trapped in centralization and those unbanked users? Which are the first communities you want to conquer with your project?

Zhou yu:

“conquer” is a strong word for community-building haha

Mary | satoshi club:

I think Sperax play is the best thing that can happen to centralized communities 😂

Zhou yu:

I feel one of the major missions of every crypto enthusiast is to get crypto into mass adoption. Honestly speaking, most people still have so many confusions and misunderstandings around this emerging space and technology.

Mary | satoshi club:

Yes, we all are making as much as possible!

Zhou yu:

Sperax definitely views completing this mission as its duty

Gold rocket | satoshi club:

Nevertheless, mass adoption is coming!😁

Zhou yu:

Undoubtedly

Zhou yu:

We sperax take two approaches on mass adoption

Gold rocket | satoshi club:

Thank you very much for this mission that you are carrying out.❤️🚀🚀

Zhou yu:

One is via our product. When people see a well-designed, easy-to-use product like Sperax play, they would start gaining confidence in this newly emerging crypto world

Mary | satoshi club:

You know, if you want to start to attract users, the app is best suited for this. If it’s easy to understand this will be the first comfortable step into the crypto😉

Zhou yu:

When they see how convenient to use stablecoin like our USDS compared to the legacy swift system, they would start gaining confidence in this newly emerging crypto world.

Another approach is that we have never stopped promoting and educating people on crypto and its fascinating technology

Mary | satoshi club:

Yes, we made transactions between three countries in seconds today😂

Zhou yu:

I hope i answer the question 😃

Gold rocket | satoshi club:

I dream of this moment🙏

Mary | satoshi club:

Yes, thank you for your answers! Detailed and full answers!

Zhou yu:

Haha glad you like it

Mary | satoshi club:

Are you excited to see what our users prepared for live part today, joe?

Zhou yu:

Definitely! Lets rock

Mary | satoshi club:

Let’s go 🚀

PART 2.Questions about the Sperax project from the live chat of the telegram community.

In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the Sperax Foundation crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.

Q – 1 from a telegram user @alice_wonderland12

🐱What features differentiate sCOIN from any other stablecoin? is its value publicly audited? How can users trust its stability?

Zhou Yu:

I saw many questions about our stablecoin, previously named sCOIN and now USDs. Nico, who joined us from Terra, is the designer of USDs. USDs is a hybrid stablecoin that combines the advantages of crypto-backed stablecoins like Dai and Algo stablecoins like Basis. 

Essentially, at the early stage, its crypto-backing makes sure that the value of USDs is stable while at a later stage, when we weighing more on algo-side by adjusting system parameter, USDs would be free to scale up. It finds a balance between stability and scalability.

Q – 2 from a telegram user @Jappel

You can earn XP with Sperax Play mining, but what could you do with the XP in the future? Thx.

Zhou Yu:

Good question. I feel their prob is much confusion on XP point usage. So we will launch a conversion program later on a quarterly basis to let Play users convert XP points to real-value tokens like SPA. To ensure decentralization, we are currently building a DAO which would decide on the details

Zhou Yu, [18.02.21 22:49]
So better collect as many XPs as you can😉

Q – 3 from a telegram user @alyaakin

Do you have any plans to add NFT staking support in the future into the application?

Zhou Yu:

Of course! In fact, there would be a NFT interface just in the next version!

Q – 4 from a telegram user @jirencrypto

Tell us a little bit about your App, from Sperax Play Is it the typical wallet we always see? Or does it have something innovative?

Zhou Yu:

As I said at the beginning of this AMA, Play is so much more than a mere wallet. It is the gateway to the whole Sperax system where SPA and XPs are the two major tokens. XPs are reward points, not strictly tokens. Just self-correct.

Q – 5 from a telegram user @tuvalunia

Sperax Play will be a hub also to mine cryptos. Which cryptos will be there? Sperax tokens or any other one?

Zhou Yu:

The play would support every mainstream, high-quality token. We are building in-app DeFi modules right now.

Q – 6 from a telegram user @BERTA2020

What uses and benefits does your SPA token offer for sperax users?

Zhou Yu:

SPA tokens would be the sole native token of the whole Sperax ecosystem. Also, we are building a liquidity mining program right now for SPA on Uniswap. Keep an eye on it

Q – 7 from a telegram user @alptrader

Did you build any governance mechanism in this platform for customers to decide on project?

Zhou Yu:

Yes. We are building one! In fact, all key parameters in Sperax ecosystem will be determined by DAO. For example, since the Snowball mining rate would decrease when the Play user number increases, there would be a number serving as a threshold. This number would be decided by DAO via SPA voting.

Q – 8 from a telegram user @Donotpm

Can I also play games on Sperax Play V.1, or it’s just a wallet where I can store, send and save my crypto?

Zhou Yu:

Q – 9 from a telegram user @ronaldo_super

Is it possible to mine SPA tokens within our smartphones?

Zhou Yu:

You can mine XPs via Play.

Q -10 from a telegram user @JLiaOp

Since the Sperax blockchain will be a DPoS network, will there be a minimum number of SPA tokens required to delegate a witness or one can delegate with just 1 SPA token?

Zhou Yu:

Our current DPoS design does not put any threshold on delegation. So you can delegate as little as you like if you think it is most profitable.

Part 3 – Quiz about project

In the final part, we tested the knowledge in terms of the Sperax project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.

Our contacts for more details: 

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Our Crypto Partner by this AMA: Sperax

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