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Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Merrymen and our guests were @wei_dai, @crypto_crytic and @Merrymen8. The AMA took place on the 14th of August.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1?—?introduction and questions from the Telegram&WebSite
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with Merrymen! Welcome to Satoshi Club
D. | Satoshi Club: Today our guests in Satoshi Club?—?@wei_dai, @crypto_crytic and @Merrymen8! Hello and welcome!
Mary | Satoshi Club: Welcome to Satoshi Club
MerryMen.io {will never DM you first}: Hey guys
Thanks for having us!
Mary | Satoshi Club: Hello, happy to e-meet you
How’s going?
MerryMen.io {will never DM you first}: It’s going good
Cryptocrytic: Hello everyone! Super excited for this AMA!
Mary | Satoshi Club: Welcome here
So, let’s start our AMA
Guys, could you please introduce yourself and tell us more about Merrymen
D. | Satoshi Club: What a nice way to start our AMA
MerryMen.io {will never DM you first}: Hi I’m Amira. I’m one of the Marketing leads of Merry Men. I have been with this project since its early stages.
With crypto gaining popularity, people don’t realize how much power Centralized exchanges have in controlling their funds and that’s where the need for Decentralized Exchanges come in.
I believe DeFi is the future and am here to bring this technology to a diverse group of people from different sectors.
Mary | Satoshi Club: Right words
When Merrymen project started?
Cryptocrytic: Hi all, I’m an advisor for Merrymen. I work with multiple DeFi projects, and I’ve been in crypto since 2018. I am a strong believer in DeFi, and I strongly believe Merrymen will be the DEX of choice in the future for all DeFi enthusiasts!
Mary | Satoshi Club: What special did you find in Merrymen?
Cryptocrytic: Merrymen isn’t just any DEX, they strongly believe in opening the door to investors from traditional finance to make the transition over to DeFi. Via generous airdrops provided to Robinhood investors, Merrymen seeks to be the flagship DEX for investors coming from traditional finance, especially Robinhood.
D. | Satoshi Club: We will talk about this airdrop today
, a bit later.
Mary | Satoshi Club: Thank you for your intro, guys!
We choose 6 questions from our community for the first part of our AMA! Ready to start with them?
D. | Satoshi Club: Let’s go!
Q1 from Telegram user @UplineStephen:
So, according what I read from your medium article, Merrymen, is a brand new community focused decentralized exchange (DEX) on the Ethereum network. So if I understand your DEX services clearly, since it’s a Decentralized Exchange, it is going to function just like Uniswap right? If so, my question now is, what unique features will Merrymen bring into the DeFi DEX space to encourage more investors or users to be motivated to use your Swap DEX? Also, another big challenge that most crypto users complaint about the Ethereum Network is their gas fee in terms of transactions. So what will Merrymen team do to minimize swap fees and make it more convenient for users who will be using your swap DEX on the Ethereum Network?
MerryMen.io {will never DM you first}: The core function of it; Enabling swaps between multiple currencies, is similar to Uniswap, yes.
A few majors things, our vision is to enhance and improvise the user experience of our DEX for an easier on ramp of investors/traders from the traditional financial industry. We were hurt by the Robinhood fiasco and connect deeply with those affected and want to encourage and build trust of users to adopt Decentralised exchanges.
With regards to the gas fees, we’re hoping that the ERC223 will help mitigate this.
Alternatively, we’re also identifying ways of making the swap process more transparent for the users for them to make smart decisions when swapping between tokens for trading purposes. Eg: DEX’s swap ETH<>WETH which increases the fees.
D. | Satoshi Club: What is ERC223? Can you explain?
Cryptocrytic: It is basically a token standard that is an improvement to the current ERC20. Its biggest pro is that it throws an error on invalid transfers and cancels the tx so funds are not lost. Its major focus is on security, and enhancing/improvising fee structure.
D. | Satoshi Club: And so your DEX will be not another fork of Uniswap or SushiSwap? You are building something different? in term of technical part.
Cryptocrytic: You could say so. But while also making sure that it is not completely different in terms of user interface for adoption and ease of use for crypto investors and traders.
D. | Satoshi Club: Thanks for clarification
Mary | Satoshi Club: Thank you for your answers guys! Ready to proceed?
Cryptocrytic: Yep!
Q2 from Telegram user @Arisabela:
I wanted to enter to your website for researching and noted that google warned us that the website “is not secure”, however I could also realize that it is not fully developed, you can tell us at what stage you will put more interest in the development of your website? And how do you plan to verify it and make it safe for everyone?
D. | Satoshi Club: I assume the question is about this. Currently everything is safe as I can see.
MerryMen.io {will never DM you first}: We only have a landing page out with the SSL certificate. So, it would in no way show ‘it is not secure’. Our website will go live next week.
We’re going to launch on the first iteration of our mobile app in Q4. Security is extremely important to us. In addition to stress testing the DEX and having a bounty program for devs, we will also have smart contract auditors review the DEX.
D. | Satoshi Club: So in the next week you will put more info on your site? What info will be available there?
MerryMen.io {will never DM you first}: Our entire site will be fully functioning and ready to go, we’re just finalizing the back end.
Mary | Satoshi Club: So, you have bounty program for devs now or later?
MerryMen.io {will never DM you first}: The bug bounty program will eventually be introduced.
Mary | Satoshi Club: Gotcha!
D. | Satoshi Club: Cool, thank you for the answer! Do you want to add anything else or can we move to the next question?
MerryMen.io {will never DM you first}: Let’s move on to the next question
Q3 from Telegram user @Crypilord:
You allocated 20% of your token to be airdropped to Robinhood investors. Frequently, you always pay reference to the Robinhood in most of your writeups. You also have similar logo as Robinhood’s. We know Robinhood, a Cex stock trading platform has stopped trading on its app since January. Is there any relationship or connection between Robinhood and Merrymen? Why is the community airdrop going to only the Robinhood investors? You can agree that the success of a project depends on trust and transparency. Your team is anonymous, how can we be sure that the team are not a fraction from the Robinhood team?
MerryMen.io {will never DM you first}: When Robinhood CEO Vlad Tenev decided to freeze trading on the Robinhood app in January 2021, he showed the world why centralized exchanges should have no part to play in the world of retail investing.
Retail investors had trusted the Robinhood app, having no idea how easily it could be manipulated. When CNBC reported that Robinhood had to “tap credit lines, raise new funds and throttle back trading” and “the central Wall Street clearinghouse mandated a ten-fold increase in the firm’s deposit requirements”, it was clear that retail investors were trapped in a centralized controlled exchange, that was totally out of their control.
Merrymen is launching to demonstrate how important decentralized finance and decentralized exchanges are to the retail investor after the Robinhood GameStop fiasco. We are very absolutely not involved with the Robinhood team. The despicable treatment of their investor community is something we aim to remind traditional finance investors about as much as possible.
Our chief aim is to showcase the enormous discrepancy between centralized, traditional investing, and DeFi. Through Merrymen, investing will never be halted/manipulated, and Merrymen users will always be in 100% control of their funds. Through the airdrop, we aim to give back to the victims Robinhood pushed aside with its market manipulation, and offer them an incentive to explore a much safer and more efficient form of investing, through a decentralized platform.
“100 million tokens airdropped for free
Merrymen to airdrop free tokens to Robinhood investors”
We are making this incredible offer because we’re seeing more and more that centralized exchanges can’t be trusted with retail investors’ money and to incentivize traders from the likes of the Robinhood exchange, make the move across and understand decentralized finance.
Merrymen will never stop any investor trading, will never be under the control of a centralized organization like the DTCC or NSCC and it will never cite ‘market volatility’ for closing their accounts.
We want to highlight that there is no affiliation with Robinhood as it goes against what we stand for.
https://medium.com/@MerrymenDex/robinhood-shat-the-bed-so-the-band-of-merrymen-has-taken-over-726766febf40
D. | Satoshi Club: How is anyone eligible for airdrop and how he or she can get it? What steps should be done from their side?
I mean how do you pick the users? Do they need to fill out any form for airdrop?
Cryptocrytic: As explained in the linked article, there are a couple of easy steps needed to be taken in order to be eligible for the airdrop. You must follow our socials, and fill in the form linked in the medium article: https://medium.com/@MerrymenDex/merrymen-to-airdrop-free-tokens-to-robinhood-investors-904517d33068
Mary | Satoshi Club: Hope all users affected by Robinhood won’t miss their chance!
Thank you for your answers! Ready to jump to the next question?
Cryptocrytic: 100%
Q4 from Telegram user @Asela1112:
I heard, you hope to launch Merrymen in early Q4 & you are up to hold it’s IDO event in DeFi Launchpad soon. Can you share with us the progress about your upcoming IDO event? Which Ethereum Launchpad will you target to launch your IDO in order to reach maximum capacity of Merrymen platform?
Cryptocrytic: We have already secured the Launchpad we will launch on in early Q4. More details will be shared publicly soon, so make sure to follow our socials, including our Telegram announcement channel: https://t.me/MerrymenDexANN to stay up to date with our latest announcements.
D. | Satoshi Club: Btw will your team pass the KYC before IDO? to gain more trust to future investors.
Cryptocrytic: We are an anonymous team. This should not seem problematic, as our plans for Merrymen include having it be a completely community led platform.
D. | Satoshi Club: Understood, appreciate the answer!
Mary | Satoshi Club: Thank you! Ready to go to the next question?
Q5 from Telegram user @antoni_azx:
While researching your project I found very little information about how you plan to make it safe. Can you tell us if your project has been audited? In addition, the smart contract is not everything, what security mechanisms will be used in-platform? Will they use a key identifier or encrypted mechanism?
Mary | Satoshi Club: Maybe insurance?
MerryMen.io {will never DM you first}: The project is yet to launch
But behind-the-scenes, we are making sure that the DEX is able to adhere to all smart contract standards to avoid any possibilities for it to be hacked. In addition, we mentioned this earlier, but we have a bug bounty program, and we will announce security auditors in the coming months to assure that it will be a safe DEX to be used.
Mary | Satoshi Club: That’s great! We will wait for the updates from you! Also, as you mentioned above?—?you plan to have community governance, right?
Cryptocrytic: Correct.
Mary | Satoshi Club: When it will be implemented?
Cryptocrytic: We will publish our roadmap for the coming months soon. There, our entire plans for Merrymen, including community governance, will be explained in detail.
D. | Satoshi Club: Very nice!
Mary | Satoshi Club: Got it! Thank you for your answers! Ready for the next question?
Cryptocrytic: Very ready
Q6 from Telegram user @alice_wonderland12:
There is a free airdrop of Merrymen tokens for projects so they can distribute the tokens among their communities. I hadn’t seen this marketing strategy before, what is the main goal of the team with it? What kind of projects qualify for this airdrop, and how can one be postulated? Who decides which projects receive the airdrop and which ones don’t, and is the amount of tokens airdropped the same for each project?
Cryptocrytic: Through this 20% airdrop, we aim to incentivize liquidity provisioning on our platform. The first 20 projects to provide at least $20,000 liquidity will receive an airdrop to be distributed among their communities. This 20% of our entire supply, which is equivalent to 100,000,000 tokens, will be distributed among these 20 liquidity provisioners. Communities of any projects are encouraged to reach out and ask their respective teams to provide liquidity, in order for the entire community to be rewarded. Through our very generous airdrops, and our 30% of tokens being allocated to the public raise, we will have offered 70% of our total supply to retail investors. Eventually, the complete power of governance will be in the hands of the community.
https://medium.com/@MerrymenDex/merrymen-to-incentivize-projects-joining-its-dex-26cdab7d4b9f
Mary | Satoshi Club: Do you already have some projects which are ready to provide liquidity and receive airdrop?
Cryptocrytic: We are in talks with several projects. We encourage all community members to reach out to different project’s teams and request for them to be in our first 20 liquidity provisioners, since they will be the recipients of 20% of our entire supply.
Mary | Satoshi Club: Super! Hope we will hear their names soon!
Thank you for your answers! We came close to the live part now
Ready for it?
MerryMen.io {will never DM you first}: Yeah
Let’s do it!
Mary | Satoshi Club: Let’s go
Part 2?—?live questions from the Telegram community
Q1 from Telegram user @Ishan1_7:
Are there any requirements for these “100 million tokens airdropped for free Merrymen to airdrop free tokens to Robinhood investors”?
Cryptocrytic: We outlined every step and requirement in the following article: https://medium.com/@MerrymenDex/merrymen-to-airdrop-free-tokens-to-robinhood-investors-904517d33068
Q2 from Telegram user @sweetdoge:
How much of the tokens will your team have from Merrymen and will there be any whales?
Cryptocrytic: 30% of tokens will be vested. These tokens will serve different purposes, including marketing efforts, team tokens, operations, and more. Our entire tokenomics and supply distribution is outlined in the following article: https://medium.com/@MerrymenDex/merrymens-unique-tokenomics-announced-da28aece4235
Q3 from Telegram user @himu8890:
Sir, community is very important for a project. While you build your project, do you take into account community feedbacks and demands?
Cryptocrytic: Eventually, Merrymen will be entirely community governed. We are allocating 70% of our supply to retail investors, in an effort maximize decentralization. Our full roadmap will be published soon, which will contain a detailed outline of our community governing plans in the future.
Q4 from Telegram user @goyalshaab1444:
Merrymen, a new DAO-based DEX is being launched on the Ethereum network to demonstrate how important decentralized finance and decentralized exchanges are to the retail investor after the Robinhood GameStop fiasco. Why invest in Merrymen?
MerryMen.io {will never DM you first}: The total market cap will be $990,000. No other DEX will have a market cap below $1mill on launch. Think of this, Uniswap has a market $ 17.53 billion. Achieving just a fraction of that will give investors massive returns.
With regulation getting stricter in the crypto world, DEXes will become paramount. Merrymen was created for the community and puts its investors at the heart of everything it does.
There’s a lot that’s wrong with CEXes and investors can choose to be part of the solution and part of the new movement coming in.
Q5 from Telegram user @Nhairym:
Your project is aimed at Robinhood investors exclusively or is just a reference point, can other people outside of that project participate in the airdrop to also be initial investors in a crypto project that has the potential to grow considerably in value? In your website it says: Robinhood broke the bed, so the Merrymen gang has taken over! Why have you been so motivated to help those affected by this project, what is your long-term vision through DeFi?
Cryptocrytic: We will offer 2 different airdrops. The first will be aimed to give back to Robinhood investors who were pushed aside by Robinhood and centralized, traditional finance in its entirety. The second will be offered to the communities of the first 20 projects that provide liquidity.
Our passion is to help the victims of the Robinhood/GME/AMC fiasco stems from our digust for traditional finance as a whole. Long term, Merrymen seeks to be the DEX of choice for those investors transitioning from traditional finance to DeFi.
Q6 from Telegram user @ashwini_Crypto:
Merrymen’s motive is to help bridge traditional investors across to the Defi world, but how easy will it be for traditional investors to use the platform?
How will Merrymen ensure that?
Cryptocrytic: To ease the transition from traditional investing to DeFi, we have followed a very close branding system and theme to the most popular traditional finance platform, Robinhood. Investors making the transition over to DeFi via our platform will be pleasantly surprised to find a very similar interface to what they’re used to seeing. However, our actual platform far exceeds Robinhood in terms of security, decentralization, and ownership over personal funds.
We are very happy to see you taking an interest in DeFi as an investor coming from traditional finance. You can very easily sign up for our airdrop following the steps in the following article: https://medium.com/@MerrymenDex/merrymen-to-airdrop-free-tokens-to-robinhood-investors-904517d33068
Q7 from Telegram user @Lucybabu1:
What are your strategies in building a big and strong community? Do you agree that the power of the community will lead your project to grow globally?
MerryMen.io {will never DM you first}: “Giving 100 million tokens to be airdropped for free to those affected by the Robinhood/ GameStop fiasco”
70% of total supply will be going to retail investors. No other exchange that we know of is doing this .
Our community has been growing organically. We are still in the very early stages and will be influencers, PR and have a strong marketing initiative in place.
Q8 from Telegram user @ronaldo_super:
With Merrymen, how do you think that you can move traditional finance investors into the DeFi?
Cryptocrytic: Via generous airdrops aimed at traditional investors, and a very interactive platform with similarities to Robinhood, one of the most popular traditional finance platforms, Merrymen aims to be the DEX of choice for these investors making the transition. With 100% individual ownership of funds, community governance, and 70% of our supply being offered to retail investors, we don’t believe we will have any difficulties in converting traditional investors to DeFi investors.
Q9 from Telegram user @Pratze:
You claim that CEX is unsafe and Decentralized Exchange is more safe, could you give reasons why DEX better than CEX? As we know CEX still exist until now and do you think DEX can substitute the position of CEX?
MerryMen.io {will never DM you first}: Decentralized exchanges (DEX) are autonomous financial protocols powered by smart contracts that enable crypto traders to convert one digital asset for another with all transactions viewable on the blockchain. In this format, investors retain control over their funds while trading. This security and transparency is a key feature DEXs have over CEXs.
One of the reasons CEXs are so popular is the ease of access they give to so many investors. The Merrymen DEX wants to combine this fantastic user experience offered by modern exchanges such as the likes of Coinbase, BINANCE and traditional exchanges with all the security and transparency that a decentralized exchange can offer.
Combining the best of both worlds, the Merrymen Dex, with its community focused tokenomics and easy to use interface will be a must use exchange for the savvy investor.
For further information please visit the Merrymen Website and follow our Twitter and Telegram channels.
Q10 from Telegram user @Nenyesam:
Can you share your social media links so we can keep ourselves updated?
Cryptocrytic: Make sure to follow us on all our socials!
- Twitter: https://twitter.com/MerrymenDex
- Telegram: https://t.me/MerrymenDex
- Telegram Announcements: https://t.me/MerrymenDexANN
- Medium: https://medium.com/@MerrymenDex
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.
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/
Twitter: https://twitter.com/realsatoshiclub/
Website: https://esatoshi.club/
Our partners:
Telegram Community?—?https://t.me/MerrymenDex
Medium?—?https://medium.com/@MerrymenDex
WebSite?—?http://propatest.com/merrymen/
Twitter?—?https://twitter.com/MerrymenDex
