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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 and our guest, @jackson_Sypool. The AMA took place on the 15th of October.
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 Sypool! Welcome to Satoshi Club
D. | Satoshi Club: Today our guest?—?@jackson_Sypool! Happy to have you here!
Jackson: Nice to meet you guys!
D. | Satoshi Club: Same! Welcome to our club!
Mary | Satoshi Club: Welcome here, Jackson! How are you?
Jackson: I’m great! Busy with development and many collaborations to talk.
Mary | Satoshi Club: Awesome! So, let’s start our AMA
D. | Satoshi Club:
Jackson:
Mary | Satoshi Club: Could you please introduce yourself and tell us more about Sypool?
Jackson: Hello, everyone. I’m Jackson, co founder of Sypool. I’m also the founder of quantum technologies, which manages more than $300 million of quantitative funds.
I have rich experience in both financial industry and blockchain industry.
Mary | Satoshi Club:
Jackson: Sypool is an asset management protocol on Solana, where investors exchange our fund shares with their tokens (i.e. BTC, ETH, SOL…).
Like traditional funds, investors are offered professional financial services, while fund managers have a platform to raise money (tokens).
However, our fund managers not only adopt traditional ways (Buy low, Sell high) to earn yield for our investors, they have more “blockchain” ways to benefit fund share holders.
Mary | Satoshi Club: When did you start to develop it?
Jackson: Months ago, I think in April.
D. | Satoshi Club: Nice! why Solana? Is it because this blockchain has more benefits compared to others on market?
Jackson: Yes. Solana has the advantage of low gas fees and faster speed which is essential for asset management.
D. | Satoshi Club:
Mary | Satoshi Club: Who are in the team? How big is it?
Jackson: Actually we are anonymous
. We are located in London. Our team consists of 20 members, including devs, product designers and marketing.
Mary | Satoshi Club: Oh, what is the reason you want to stay anon?
D. | Satoshi Club: True De-Fi team
Do you plan to reveal yourselves on one day?
Jackson: Hmm…maybe in the future? have no plan on that now. Privacy is important in crypto world.
D. | Satoshi Club: And we respect your choice in this case
Jackson: Thank you
Mary | Satoshi Club: Thank you for this intro! We chose 6 questions for the first part of our AMA! Ready for it?
Jackson: Yea, go for it!
Q1 from Telegram user @Jamesxmen:
While researching on $SYP tokenomics, I found that 10% of $SYP tokens from the total supply have been allocated for investors and 10% is divided as 2%: Seed round, 2%: Strategic round, 5.5%: Private round, 0.5%: IDO.
Why did you go for a strategic round while you have seed round for Sypool project’s early investors? Could you elaborate more on these fundraising events? Were all of these rounds already completed? If yes, tell us about these events and vesting schedules of each event? Usually most projects offer at least 1% of their native tokens for IDO events since the retail investors also apply to invest their funds. What is the reason for allocating such a small amount for your IDO?
Jackson: Here is our fund raising details: Total 10% of max supply.
- Seed round, 10% released at TGE, Token Generation Event; after 3 months’ interval, the other 90% will be released linearly in 15 months.
- Strategic round, 15% released at TGE, Token Generation Event; after 3 months’ interval, the other 85% will be released linearly in 15 months.
- Private round, 22.5% released at TGE, Token Generation Event; after 3 months’ interval, the other 77.5% will be released linearly in 12 months.
- IDO, released initially.
Three round fundings based on different time period. And we believe it’s reasonable to reward those investors, because they are those who believe in this project at every early stage. That’s why the seed price is the most delicious and they do deeply participate in our project. I can’t remember how many advices they gave us and improved our project.
Mary | Satoshi Club: Yes, seed rounds are always delicious
Jackson: So, that’s our logic. Seed round contribute most, reward most, followed by strategic round and private round.
As for the IDO distribution, we always hold the idea that our token is designed to reward contributors, not short time gamblers. So when many projects give 20% investment, we only raise 10%. We ONLY need what is necessary to develop our project and cover our necessary cost. So, not only IDO, but every round of investment is halved.
D. | Satoshi Club: I have read your litepaper and there is some info about airdrop for early minters. Has this already happened or people still can participate in the airdrop campaign?
Jackson: Not now. The early minters are those who mint our SAPs in the early stage. The campaign will happen after mainnet launch.
D. | Satoshi Club: Nice! And you plan to launch your mainnet in the beginning of 2022? As I know.
Jackson: Yea, at 2022 Q1.
D. | Satoshi Club: Got it! We will be follow your announcements
Mary | Satoshi Club: Thank you for your answers, Jackson! Ready to proceed?
Jackson: Okay, great!
Q2 from Telegram user @Right_clicK1:
Just of recent, Sypool protocol token was listed on BitMart and the team plans to celebrate this achievement by giving away 130,000 SYP which is scheduled for two weeks. There are three links given (for Deposit, Trade and Details), how are we going to make use of these links? In the Deposit link, what are we expected to deposit in order to participate? Can you provide us with the full procedures of the giveaway? If SYP/USDT will be provide within 30 mins, when is it scheduled for, are we going to use it to before or after SYP has been distributed to the winners?
Jackson: Here is the detailed article: https://support.bmx.fund/hc/en-us/articles/4408023677595
You need to deposit tokens in CEX before you could trade. You can deposit USDT to buy SYP or deposit SYP to sell and get USDT.
Some campaigns are on FcFs method, so I think it’s only the trading competition available now.
If you have more questions, you will get detailed answers in their group: https://t.me/AscendEXEnglish
Mary | Satoshi Club: Thank you, very detailed answer! Satoshiclubbers, it’s your chance to win
Ready to go to the next question?
Jackson:
Q3 from Telegram user @Highpee:
Sypool protocol involves four parties which are user, manager, exchange and oracle. The managers are said to be the starter of a pool and have been authorised to manage the tokens in the pools. How do pool share token holders designate managers and who can become a manager designate? What are the preset strategies that managers work with when setting up and controlling a particular pool and its asset? Apart from pouring or asset deposit in pool, what roles will SAP holders play in pool management, liquidation and profit sharing?
Jackson: At the first stage, we will be the manager of the pool. We have a fund company trading cryptocurrency off-chain. We want to bring our strategies on chain, that’s why we have Sypool here.
Also, we will invite some professional trading teams to join us. In the future, we will open for some qualified users to manage the pool, but we will assess their performance every month. If their performance is not up to standard, we will let SAP holders to decide whether to let him go or not.
D. | Satoshi Club: So at the moment ordinary De-Fi users cannot create a pool on your platform? Also what kind of crypto assets do you support currently?
Jackson: Yea, some top crypto assets such as BTC, ETH, SOL, FTT, RAY etc.
Actually we have four products, which are Index-tracking SAP (Synthetic Asset Pool), Trader-based SAP, Structured Yield Fund and Assets-based quantitative trading SAP. Each SAP has a trading strategy. As for quant SAP, that’s a quantitative trading strategy, using a large number of different technical indicators to find current market trends and making directional investments based on the trend.
SAP holders can share profits and also provide liquidity, we will accept the LP tokens to stake and earn SYP in the future.
Mary | Satoshi Club: Do you have a detailed roadmap?
Jackson: Yea, we are now talking to more projects about collaboration and more DEXes and CEXes about listing.
As for the project, we are talking to some audit companies to get our code audited. Then, our own staking will be live.
Before mainnet launch, we will test functions such as new manager application, community governance and dashboard with ETH or BTC standard.
At 2022 Q1, mainnet will be launched!
After that:
- Quantitative Strategy Pool
- LP Token Staking
- Collateral For Stable Coin
- Derivatives
- Lottery Plan
- NFT Rewards
Mary | Satoshi Club: Gotcha! Thank you for sharing!
D. | Satoshi Club: Btw, which from the Solana wallets would you recommend for using with your products? I see you support many of them.
Jackson: Phantom. Phantom works smoothly.
D. | Satoshi Club: That’s my favourite
Mary | Satoshi Club: And mine
Jackson: And it also can display NFTs
Mary | Satoshi Club: Jackson, thank you for your answers! Ready to jump to the next question?
Jackson: Let’s go!
Q4 from Telegram user @Ajpaa:
One of the features in Sypool ecosystem is the Sypool Lottery game, where users get to predict the price of $SYP token. What are the requirements for users to participate in this lottery game? Is there anything a user can do to increase his wining chance, like multiple entries? In circumference where there is no correct prediction or there are multiple correct predictions, what will be the decision? Finally, how will the winning prize pool be allocated/shared?
Jackson: The Sypool lottery game is just a little game we bring to the community.
Entrance fee is 50 SYP. You have 24h to fill out the form, but you can change your answers anytime you want before the form close. I think you can do some technical analysis to improve the accuracy of price forecasts but honestly, it most depends on luck
D. | Satoshi Club: Haha nice!
Mary | Satoshi Club: Just for fun?
Is it already live?
Jackson: Haha, just for fun. Round 2 ended, will announce winners later. We will have more rounds in the future.
The prize pool is 10,000 SYP (which we added as a initial prize), plus all the entrance fee from participants. The prize will roll up until some lucky guys win. Winners can share the prize pool evenly.
If the prize pool is too huge, the community will have the right to vote whether to reward the winners at once or in installments.
Actually, this is our product in our ecosystem, Perpetual No-loss Lottery SAP.
Users can mint Lottery Pool share tokens with their own tokens and these tokens would be used to farm in vaults. The weekly yield will be poured into the prize pool.
An external oracle would provide a random number to select the winner who will win every token in the prize pool. The more one invests, the bigger chance to win. It’s totally free to enter or exit, and no loss (except transaction fees).
Mary | Satoshi Club: We love fun
The question is if luck loves us
Nice product!
D. | Satoshi Club: Cool! Btw, on which oracle you rely on?
Jackson: Now we have Pyth.
Mary | Satoshi Club: Thank you for your answers! Ready to go to the next question?
Jackson:
Q5 from Telegram user @Rotoxy:
Sypool implemented a governance model that is made up of Foundation, Council, Board, Community and Representatives. Foundation members do not participate in daily governance, but will be able to override governance decision under special circumstances. Can you explain how the foundation members are formed and why it is necessary that they boast that ultimate power? Why do you have 20 members that make up the Council and 6 Board members while only giving Community 3 representatives in governance? Why are all these categories of governance users placed on monthly salary apart from community? How will the community vote and contribute with proposals for project development? How will you incentive quality decisions procedure within the community?
Jackson: The design of our governance might be one of the key features of this protocol. So, I would not hurry to call that a “law”, but rather a proposal at status quo.
The rules also need to be agreed by the community. The number of people in the council would also be changed once approved by the community.
We are trying to design a system to divide the whale and smaller community members, to avoid proxy manipulation.
The governance system might be the last few pieces of our puzzle. Right now we are focusing on developing our project.
D. | Satoshi Club: Quite important thing. Gotcha, thank you for answers!
Mary | Satoshi Club: How community will approve their decisions?
Jackson: The detailed rules are under designed. Maybe need about 70% members approving.
Once it’s ready, and the community believe it’s time to launch the governance system, those who run the daily governance would get what they deserve.
Any community member would have the right to proposal, but have to be audited by the council.
Mary | Satoshi Club: It sounds good, we will wait until your governance will be launched
Thank you for your answers! Ready to go to the 6th and last question from this part?
Jackson:
Q6 from Telegram user @DK177:
When I clicked “BUY SYP”, I was directed to the Dexlab DEX and I got a notice stating that Dexlab DEX is not available to residents of some countries including Belarus, Korea, Ukraine, Cuba, Iran, Libya, and the USA. Does it mean that purchasing $SYP is also prohibited for these local communities? If yes, don’t you list on exchanges which are available in countries where Dexlab is prohibited? Do you have a proper mechanism to track token holders? If not, why don’t you list on a popular exchange soon which is available for the global community? Is there a special reason to list $SYP on Dexlab DEX?
Jackson: If Dexlab is not available to some countries, then you can’t buy or sell tokens on Dexlab in these countries.
We launched IDO on Dexlab. After IDO, we were listed on them for granted and we are the first protocol launching IDO on them! We are glad to collaborate with them.
We have also listed in some other Dexes and Cexes.
- Dexlab: https://trade.dexlab.space/#/market/9cuBrXXSH9Uw51JB9odLqEyeF5RQSeRpcfXbEW2L8X6X
- AscenDEX: https://m.ascendex.com/en/cashtrade-spottrading/usdt/syp
- AldrinDEX: https://dex.aldrin.com/chart/spot/SYP_USDC
- Raydium Swap: https://raydium.io/swap/?ammId=2Tv6eMih3iqxHrLAWn372Nba4A8F
T8AxFSbowBmmTuAd
- Orca Pools: https://www.orca.so/pools
- Bitmart: https://www.bitmart.com/trade/cn?symbol=SYP_USDT&layout=basic
Btw, the staking APY on AscenDEX is 100% and also you can farm on Orca, Yearly Returns: 256%, Double Dip APY: 191%
Of course listing in big exchanges is in our plan. But many big CEXes, such as Binance, has high requirements on project itself, so we want to put development in priority.
D. | Satoshi Club: Oh nice, you listed on tons of DEXs
Juicy rewards
Jackson: Will have more in the future
D. | Satoshi Club: Cool, that’s a goal of any project
Mary | Satoshi Club: Awesome first part, Jackson
Now we came close to the live part of our AMA, where we will give all power to our users
Ready for it?
Jackson: Shoot!
Mary | Satoshi Club: Let’s go
Q1 from Telegram user @Karoceh:
How will Sypool accommodate community voices? Was the community involved in the development of Sypool or in making important decisions?
Jackson: I think there are two basis of a project, codes and community. We consider our community members as our partners. For example, the banner on Twitter is designed by one of the community members and also the images of NFT are designed by them. When we host testnet events, they gave many useful advices on improvement.
Q2 from Telegram user @tomo_fan:
Why do you say you offer an unique farming mechanism? What is so different in this?
Jackson: Many projects release part of their tokens proportionally according to the staking amount. But we are a little different.
In short, it’s a diminishing mechanism.
In the first few years, the releasing speed is accelerated, but slows down continuously as time flows.
After that, the speed will fluctuate considering the staking volume and the circulating supply.
Q3 from Telegram user @jazzmusic2000:
How does Sypool see the De-Fi + NFT formula? Do you plan to add NFT to your products? How useful would they be in the ecosystem?
Jackson: De-fi + NFT is hot spot now. In September, we have launched NFT PLUS with Define. NFT holders can redeem their NFT to get the opportunity to buy SYP at the IDO price, $0.04.
In the future, we will design more NFT products with financial elements. We can also have a NFT SAP with NFT assets in the pool.
Q4 from Telegram user @Murthy_Rajpaksha:
How will Parrot, LIQ and Orca help partner platforms as you?
Jackson: Working with Parrot, it will be possible for users to use PAI, a Solana native stablecoin, to provide liquidity into our fund pools.
LIQ will help with liquidation when we will have derivatives in the future.
Orca is helping with farming now. You can add liquidity on Orca and double dip LP tokens to earn SYP.
Q5 from Telegram user @Titanium432:
Can you please tell me how the SYP token is utilized in the SYPOOL ecosystem and what benefits the $SYP holders will get?
Jackson: SYP is our governance token. It can be used to vote, farm, mint SAP, trade and pay salaries and rewards.
Obviously, holders can earn profits through price rising and farming. But as we always said, we want to build a comprehensive De-Fi protocol. There will be eco projects developed around Sypool. At that time, $SYP will not only be the token of Sypool, but the token of our ecosystem. It will represent the total value of our ecosystem.
Q6 from Telegram user @King_Raja:
“QUANT SAP” is one of your important products and your team members also come from Quant and Hedge Fund background. Are there other projects that offer quantitative trading on-chain and tokenize it?
Jackson: I think we are the first to bring quantitative trading on-chain
In the future, we will invite some professional quant trading teams to join them. They can set up pools with their own quant trading strategies.
Q7 from Telegram user @iam12312:
As Your mainnet is scheduled on Q1 2022, till then, what is on your roadmap, can you share?
Jackson: Now we are discussing collaborations with some projects, both DEXes and CEXes. Before mainnet launch, we need to get our code audited. Then staking on web will be live.
After mainnet launch. we will focus on developing our ecosystem. Derivatives and NFT with financial elements are in our plan. At that time, our pools will not be mutual funds only. It could also be vaults, lending, stable assets, NFT pools, VCs, market makers etc.
But we only need to make sure everything is at the right pace, step by step and work out an ecosystem that benefits everyone who has skin in the game.
Q8 from Telegram user @Kargil1999:
You have already completed testnet round 1 and 2, how was the response and suggestions from the community?
Jackson: The first time, we had some problems on the server, so the process speed of our web was slow, but it has already been fixed.
Most suggestions are to improve UI
We are working on it now.
During the testnet, some users found problems with the price feeding, also fixed now. We are making more improvements and testing functions now. Please look forward to our mainnet.
Q9 from Telegram user @Dino916:
One of your product is “Structured Yield Pool”, how is this product useful for the platform?
Jackson: Structured Yield SAP tracks the performance of other SAP or index, but the returns for each rank are varied. It enables users to select different risk level from R1 to R3 (and mint different fund share token SAP-R1, SAP-R2, SAP-R3).
High return with high risk
Q10 from Telegram user @Xusuo:
I really love stake features, but don’t have enough information regarding staking the $SYP. Can you explain how stake work for SYPOOL? Any guide or link on how to stake?
Jackson: Since our staking code hasn’t got audited yet, the staking function on our web is not live now.
But you can stake on AscendEX with the APY of 100%: https://ascendex.com/en/staking
And farm on Orca. You need to add both SYP and USDC to liquidity pool and double dip the LP tokens to earn SYP: https://www.orca.so/pools
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/
- https://twitter.com/realsatoshiclub/
- https://esatoshi.club/
Our partners:
- Telegram?—?https://t.me/sypool_protocol
- Medium?—?https://medium.com/@SYP_Protocol
- https://sypool.io
- https://twitter.com/SYP_Protocol
- Discord?—?https://discord.com/invite/TeHJZG7xaj
