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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 The Recharge and our guest, @TheRecharge_Admin. The AMA took place on the 1st of September.
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
Luis Merino
| Satoshi Club: Hello everyone and welcome to another AMA session in Satoshi Club. Our guests today are from The Recharge,
@TheRechargeWilliam and @TheRecharge_Admin, welcome to Satoshi Club!
Gold Rocket | Satoshi Club: Hello, dear Satoshi Club community! We are pleased to announce AMA with The Recharge
The Recharge: Great to be here Satoshi Fam!
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @TheRecharge_Admin and @TheRechargeWilliam
The Recharge: I will be delivering the AMA on my own since all of our teams are super busy conducting final test today
Luis Merino
| Satoshi Club: The one and only
The Recharge: All in the group through
Gold Rocket | Satoshi Club: This is a great event in the life of the project
Luis Merino
| Satoshi Club: Nice to e-meet you
How are you today?
The Recharge: Good! yourself? Great to e-meet you too!
Gold Rocket | Satoshi Club: We are really excited about upcoming AMA
Let’s start! Introduce yourself please. How did you get to be involved in crypto & The Recharge? Tell us please about your position in The Recharge?
Luis Merino
| Satoshi Club: Doing fine too
The Recharge: Hi Satoshi Club, I am Ethan Kang, CMO of The Recharge.
I am appointed as CMO of The Recahrge and dived into crypto to deliver the Recharge project
I am also working as several roles in our related platforms as follows:
- CSO/CMO at 100 Percent
- CSO at Thinkingwolf (Marketing)
- CMO at Zipdoc (Interior O2O)
Former Bio is also included.
Luis Merino
| Satoshi Club: Thank you for the intro, Ethan!
Gold Rocket | Satoshi Club: How do you manage to do all this? You must have at least 5 clones or 30 hours per day
The Recharge: All closely related
Not much hassle.
Gold Rocket | Satoshi Club: Apparently he’s using The Recharge
Luis Merino
| Satoshi Club: His days must be longer than ours…
The Recharge: Been a long day today though.
Gold Rocket | Satoshi Club: What is the essence of The Recharge?
The Recharge: The Recharge is an incentive hub that connects centralized platforms to decentralized incentive world.
It is highly focused in electric power-based services such as Piggycell, EV and E-Bike.
Luis Merino
| Satoshi Club: Okay… I think I got the clue… He must be recharging all day long…
The Recharge: I am now fully charged for the AMA
Luis Merino
| Satoshi Club: Great news
Gold Rocket | Satoshi Club: Also we would like to know more about your team. Who is on the project team core?
The Recharge: Our core team:
Jay Lee | CEO:
- Founder at Panda Korea & 100 Percent
- Vice President at NS Studio (IT, Game)
- Lead at Presidential Committee on Young Generation
- Journalist at Dong-A Daily News, Channel A
Jake Kim | Chief Technical Officer:
- CTO at 100 Percent
- Software Developer at TMON
- Application Developer at Kakao Corp
- Lead at Kakao Enterprise AI Development Team
These two are the core team members! Please include myself in the core team lol.
Luis Merino
| Satoshi Club: We will… Okay
The Recharge: We have a full team of 21 members and there might be a chance that I can introduce them all one day
Gold Rocket | Satoshi Club: Solid team of professionals
Luis Merino
| Satoshi Club: Huge one!
The Recharge: Will be growing further!
Luis Merino
| Satoshi Club: Please remember my name then…
Gold Rocket | Satoshi Club: How long does it take to develop a project?
The Recharge: We started this project since the early of this year. We focused on deploying our platforms before the launch.
There have been some times we needed to review some stuff, such as regulations and centralized platform connection and so on. But we are finally here today to launch!
In conclusion, 6 month to get started.
If we can count further like developing Piggycell and other platforms, it took us couple of years, but 6 months solely for The Recharge platform.
Gold Rocket | Satoshi Club: Thanks for great introduction, we will have several questions selected for the Part 1. Ready to start?
The Recharge: Ready!
Q1 from Telegram user @meml97:
I read that on The Recharge there is a process called “Carbon Redemption (CRE) Recharge Token”, can you give us more details about this? I saw that it is meant to be some Automated Token Burn of Recharge Token which has as a result discounted points, but how does this process really happen? Why did you decide to make it an automated process instead of a manual token burn of the Recharge token? What are the benefits for your platform and your investors to have it as an automated process? How often will this Carbon Redemption happen? Will it have a pre-determined schedule for it’s burn? How much of Recharge discounted points will it accumulate on this process and where will it be stored? Also, on what will this % of Recharge discounted points be used for?
The Recharge: CRE, Carbon Redemption, is an automated token re-distribution to incentive hub that is designed to create circulationary model of tokens. This is very crucial in our ecosystem since we believe balancing demand and supply is the key to maintain the value of tokens. With the virtuous cycle created from the carbon redemption, users can feel safer to stake their tokens because there is no further supply made to reward the pools.
Furthermore, The Recharge CRE is set at 2%, which is based on: FUP generation point of 1% + Platform subsidy of 1%.
FUP and Subsidy are from platforms service revenue sacrification to help boost the The Recharge Ecosystem.
Gold Rocket | Satoshi Club: This is really an extraordinary approach.
The Recharge: As mentioned above, majority of De-Fi protocols keep generating supplies to reward their pool, which will eventually cause the extreme price drop regardless of market.
We needed to solve this issue to creat a long term sustainable De-Fi ecosystem.
Luis Merino
| Satoshi Club: Nice point.
The Recharge: This might be too new, but if anyone has any questions please feel free to ping it in our channel so that I can answer your questions any time
Luis Merino
| Satoshi Club: Don’t forget to join guys, @therecharge_official!
Gold Rocket | Satoshi Club: Thanks for your great answers
The Recharge: Can’t wait for the next one
Luis Merino
| Satoshi Club: Shoot it, @GoldRocket27
Q2 from Telegram user @DK177:
According to your Certik audit report, there were 12 issues. There was one medium finding and it has been resolved. However, 2 issues have been resolved out of 3 minor findings and 7 issues have been resolved out of 8 info findings. Two issues related to the coding style and the gas optimization are yet to be resolved. When will you pay attention to these issues? Do you have proper plans to solve them? Or do you neglect them because The Recharge can be considered as “overall safe”. In addition to this audit, do you conduct frequent audits to identify these kind of issues?
The Recharge: We believe that was not crucial to deploy our tokens. Due to the automated token redistribution, we needed to keep our coding to ensure that the distributions work well.
RCG transaction is a combination of 2 transactions which will affect the gas bit (not more than 2%) and affect the coding style too.
We have received Audit first, but we believe there is no issue at all since the coding style might differ depending on the coders.
As mentioned previously, our CTO is from the one of the giant platform, Kakao Mobility, and we got that word from him and decided to keep the style as it is.
We will also conduct frequent audits when our swaps are up and running. If other audit is ready and available, we will let you know
Gold Rocket | Satoshi Club: Safety first!
Luis Merino
| Satoshi Club: Please and thank you. We want to be the first ones who know that
Luis Merino
| Satoshi Club: When will the frequent audits happen?
The Recharge: With the launch of Swap.
Gold Rocket | Satoshi Club: Thank you very much for your honest answers and a serious attitude to this issue.
The Recharge: This is something we looked into deep since the beginning. We are fully ready for it.
Luis Merino
| Satoshi Club: Good job
Gold Rocket | Satoshi Club: Are you ready to proceed to the next question?
The Recharge: Let’s move on!
Q3 from Telegram user @Ecmq10:
Hello The Recharge team! I read that Recharge token holders are granted voting rights proportional to their token holdings and can participate in the decision-making process. I have seen that other projects prefer that the voting power is not proportional to the amount of tokens of the user, because it causes the whales to manipulate the ecosystem and can affect users with lower amounts of tokens. What do you think about this? Can you share your opinion from your own perspective and experience? Thank you!
Luis Merino
| Satoshi Club: I like this one
Gold Rocket | Satoshi Club: From each according to his possibilities, to each according to justice
Luis Merino
| Satoshi Club: Wise words!
The Recharge: I like this too
It really depends on what the agenda is.
If the agenda is about connecting new platforms, we would love to listen to every single opinion from users, since we believe everyone’s opinion is equally valuable. However, when it comes to the incentive schemes, the whales should have the higher voting power to make the decision, because their contribution is something we need to expand our ecosystem.
We will decide which step we will take to make the decision based on the agenda, but we will always try our best to bring in the decision that will generate every single RCG holder’s benefit.
Luis Merino
| Satoshi Club: It does make sense.
The Recharge: But! we are listening to you all in our channels though
If there is anything that you don’t like, let us know
Gold Rocket | Satoshi Club: DAO elements.
Luis Merino
| Satoshi Club: Btw, you didn’t conduct any IDO or presale, right?
The Recharge: Nope.
Luis Merino
| Satoshi Club: And from where do you obtain the money to sustain the project? Is it sustainable by itself in that way?
The Recharge: Token supply which might come back as selling pressure is something we do not want to do.
We are backed by platform giants in KR. This project is designed to serve their incentive scheme.
If we started this project to make the money, we would definitely take the steps of token sales, but we are good so far
Luis Merino
| Satoshi Club: Thank you for clarifying this
Gold Rocket | Satoshi Club: And that’s fine
The Recharge: We are always open to any questions! Ping me in our channel if you need further information
Gold Rocket | Satoshi Club: @therecharge_official
Luis Merino
| Satoshi Club: Guys! Take notes
Gold Rocket | Satoshi Club: Thanks for your answers! Ready to proceed to the next question?
The Recharge: Let’s do it!
Q4 from Telegram user @andrey_seleznov:
I read that Recharge token aims to encourage re-use of energy for long term sustainable ecosystem that brings positive effects on environments and blockchain world. Please tell us how this admirable vision combines with the choice of ETH blockchain for the project. I mean gas fees alone do not look very friendly. Also there are rumours that POW consensus mechanism is not especially environmentally friendly as well. What was the main factor for choosing ETH when you are also present on much cheaper chains like Heco and Bsc? Thank you!
The Recharge: ETH is something inevitable in De-Fi world. It is most compatible and gets the most attentions from the users, regardless of gas fee. However, since we are aware of the issue, we have decided to provide multi-chain solutions using cross-chain to solve the gas fee issues. In terms of long term sustainable ecosystem, our goal is more like sustainability in De-Fi ecosystem, not the environmental sustainability.
However, since we are in the industry where players are trying to reduce the carbon emission and encouraging electric power based services, we decided to help the environment in the other ways.
- We use set portion of Carbon redemption to purchase carbon credit.
Those purchased carbon credit will be remained unused, so that we can help reduce the emission that much.
- Our 2nd phase product is E-Charing Complex which will further encourage the use of electric powered vehicles, bikes, scooters and what not.
This will more directly help the environment, apart from the matter from which mainnet we decide to go with.
Luis Merino
| Satoshi Club: When referring to De-Fi… ETH is the only king.
Gold Rocket | Satoshi Club: This is a win-win position
The Recharge: Hope this makes sense
Luis Merino
| Satoshi Club: Elon Musk likes this message
The Recharge: I will hashtag him!
Gold Rocket | Satoshi Club: Thanks for your clarifying
Ready for the next question?
The Recharge: Yep I am ready!
Luis Merino
| Satoshi Club: @GoldRocket27, bring it on!
Q5 from Telegram user @Jonahapagu:
It is stated that the basis of the Recharge token’s ecosystem is initially being built around Piggy Cell’s service platform, which is maintained through both automatic and manual circulation of the Frequent Use Points depending on function, purpose, and use, and subsequently, EV Charging Complex and other charging related services to be added. So how was the initial phase of Recharge with just Piggy Cell’s service platform working? Can you explain what the EV Charging Complex is all about? How will it work, and what is complex about it?
The Recharge: The Recharge with connected platform organically works together. Each platform generates FUP then RCG token.
RCG token goes back to the platforms in a form of FUP, then the switched RCG is isolated in the contract.
This flow generates carbon redemption so that RCG holders can be incentivized with it.
The Recharge can invite the users (Piggy Cell) out of crypto to crypto, and Piggy Cell can invite the crypto users (The Recharge) to sharing economy platform.
Once 1st phase gets on the track, the team will connect E-Charging Complex as the 2nd partner. The E-Charging Complex is a Complex venue that EV, E-Bike, E-Scooters can be charged while the customers can refresh themselves through refreshment spaces provided. Car Exhibition, Cafeteria, Library are just a plus.
We are working with platform giants to open up the complex and you will be able to see it coming up soon.
That is also just a 2nd phase and we hope we can deliver further information about 3rd platform partners soon as well
Gold Rocket | Satoshi Club: Please share your partnerships to date btw!
The Recharge: We will
We are sharing all progress of our project every week. We will be able to see it coming soon or later.
Next one?
Gold Rocket | Satoshi Club: Last one of this part
Q6 from Telegram user @victorogb:
Going through your roadmap, The Recharge has slated. Charging station (De-Fi) launch and Initial liquidity offering on DEX as major events planned for Q3 (which ends in September) 2021. True to this schedule, The Recharge just recently announced it’s RCG DEX listings that would take place today: September 1st at approximately 2pm UTC, on Uniswap V2. Can you graciously elaborate on this providing full details of the Pool offerings and how to participate? Also with reference to your charging station launch as also planned, can you give us an update on this, how has development on this product been?
The Recharge:
- Charging Station is ready to launch today;
- Liquidity offering is a listing on Uniswap V2 as follows;
- Pool information as follows;
[RCG DEX Listing]
Paired currency : USDC (RCG/USDC)
Initial circulating supply : 120,000 RCG (Only supply of RCG until the further announcement)
Time: September 1st, 2pm (UTC)
We are also launching our first pools for RCG holders to enjoy the attractive rate of return!
[Pools]
Name: 9.1 Locked Pool 100
Period: September 1st, 2pm (UTC)?—?September 30th, 2pm (UTC)
Type: Locked
Minimum APY: 100%+
Min Limit: None
Max Limit: None
For those who we believe whales
can also enjoy your dedicated pool opening just in 2 days!
Name: 9.3 Locked Privilege 500
Period: September 3rd, 9am (UTC)?—?September 30th, 9am (UTC)
Type: Locked
Minimum APY: 500%+
Min Limit: 4,000 RCG
Max Limit: First 40,000 RCG (first come, first served)
In terms of development, we have completed Charing Station (Staking) as well as Recharge Swap (Cross-chain bridge). However, we have postponed the launch of Cross-chain to ensure we can conduct more tests to meet the quality.
Luis Merino
| Satoshi Club: Can you please share your tokenomics with us?
The Recharge:
- Total supply: 1,000,000,000 RCG (100%)
- Ecosystem composition (40%): 400,000,000 RCG
- Development: (10%): 100,000,000 RCG
- Liquidation- Decentralized Exchange (10%): 100,000,000 RCG
- Liquidation- Centralized Exchange (15%): 150,000,000 RCG
- Governance reserve (10%): 100,000,000 RCG
- Private sales (5%): 50,000,000 RCG
- Team (3%): 30,000,000 RCG
- Advisor (2%): 20,000,000 RCG
Gold Rocket | Satoshi Club: Very detailed information, thanks.
The Recharge: All unused and unrelated token will be burned gradually with RCG governance.
https://medium.com/therecharge/notice-1st-rcg-burn-55e4e68e9996 (FYI)
Luis Merino
| Satoshi Club: Sounds great
Gold Rocket | Satoshi Club: Thanks for your answers! It was a great first part of AMA
The Recharge: One more thing!
Gold Rocket | Satoshi Club: If you want, you can share all the useful information and links before opening the chat.
The Recharge: Since we believe AMA on Satoshi is important, we will list RCG after completion of this AMA!
All good now
Gold Rocket | Satoshi Club: Thank you very much for this trust! We really appreciate
Luis Merino
| Satoshi Club: So, we are proceeding with the second part of the AMA now.
The Recharge: Let’s move on!
Luis Merino
| Satoshi Club: Please, prepare your umbrella. A huge storm of questions is arriving!
Gold Rocket | Satoshi Club: Get ready to see real storm
The Recharge: Ready!
Luis Merino
| Satoshi Club: Opening the chat for two minutes…Prepare your best questions. Ready…steady…go!
Part 2?—?live questions from the Telegram community
Q1 from Telegram user @Titanium432:
Do you believe that community decision-making process will help to shape the future of a protocol? How can users participate in the decision-making process. Is there any separate platform for this?
The Recharge: RCG governance is to shape the future of our protocol! Yes you are right. RCG governance will be activated in few hours to allow RCG holders to start making decision regarding CRE, as well as our future incentive scheme. RCG governance is listed on Snapshot and proposals will be up soon: https://snapshot.org/#/therecharge.eth
Q2 from Telegram user @Gemshunter22:
Since ETH gas fees may not be convenient to many buyers, will you launch your project in DEX like PancakeSwap? What are the listings plans of your token?
The Recharge: Yes we will. We are also planning to list RCG on PancakeSwap with the launch of Crosschain bridge. When RCG is deployed on Pancakeswap, RCG holders can make the optimized decision when they are staking RCG in the pool, because APY and fees will differ.
It will be in the near future I can say.
Q3 from Telegram user @Rakshitx5:
Recharge token is on three chains: ETH, BSC, and Huobi Ecosystem. Can you explain why did you choose three chains to launch? And how much volume is distributed on each chain?
The Recharge: Quite similar with the 2nd question but we must cover this topic.
We needed to ensure that users can always have the options to choose their ways in incentivizing journey. Fees, price, volume are all important. We are just opening up the gateways for users to make the right decision. In terms of supply, it is interdependent, meaning that to supply RCG to BSC, equal amount of RCG should be locked in the originators so the total will be equal.
Real time supply can be checked on our stats (FYI).
Q4 from Telegram user @Nhairym:
Today is the launch of RCG, what are your expectations about the event? Do you have any special plan or activity to attract participants and investors? Do you believe in whales, can these affect the development of the launch or evolution of the project?
The Recharge: Launch is just a beginning of our protocol. It is one of the key dates! However, I personally view it as just one of the working days to deliver our project. We will keep BUIDLING and some attractive rewards are prepared for first RCG holders to enjoy and celebrate the launch
Q5 from Telegram user @esrarengizbtc:
What is Recharge’s expectation from the next generation? Do you think a more conscious audience would be more interested in your solutions?
The Recharge: As mentioned previously, we welcome the users from legacy through connected platforms and our users will go to the platforms to enjoy the services. The age spread of our 1st partner is seating between 20–30, so we are expecting that relatively young users will be joining at the beginning. The 2nd partner ,E Charging Complex, is more for 30–50, so we can expect wider range of audience.
But to be honest with you, all are welcomed and we cannot miss one single audience for our ecosystem
Q6 from Telegram user @Nonerlike:
There may exist fake and scam tokens. Can you provide me real contract address of your project?
The Recharge: Notice?—?1st RCG Burn
1,000,000 RCG Burn from Private Sale Allocation
We burned a total of 1,000,000 RCG from Private Sale allocation to fuel up our Incentive Tank and the information is as follows:
ERC20)
https://etherscan.io/tx/0x4caf09b4b4c349f6a578b65a8dac6bd597c966630575e4e8e73d5e62cb27a09f
HRC20)
https://hecoinfo.com/tx/0x1d879f0dba49e52c41ddd13c02a8585ac5ad44139d5ff43c0679c0faa9698364
BEP20)
https://bscscan.com/tx/0x285dbad2f6a97659a3f45049f163e1f23f6f7c49a4d6e6abbe735b8a2f9388fd
With the 2% of Carbon Redemption, 20,000 RCG is injected to Incentive Hub to charge up our first pools.
Q7 from Telegram user @adaatalay:
How is the Recharge platform different from its peers? Why should we choose you?
The Recharge: If you worry about sudden value drop of staked tokens we will be the answer
If you would love to maximize your incentive in a long-run, we will be the answer. If you would like to experience services connected to The Recharge Ecosystem, we are the answer.
Q8 from Telegram user @rimuruonichan:
Which one of these aspects is important for you? In what order?
- Increasing Token Price & Value
- Empowering Platform Development
- Building Community Trust
- Expanding Partnership Globally
The Recharge:
3-Building Community Trust
2-Empowering Platform Development
4-Expanding Partnership Globally
1-Increasing Token Price & Value
Why?
Without having trust from the community, we can’t survive.
Without solid platforms, we can’t survive.
Without global partnership, we can still survive.
Without increasing token price and value, we are structured well so we do not worry at all.
Q9 from Telegram user @ask2lance:
How many teams do you have on your project? Since I couldn’t find them on your website.
The Recharge: https://www.therecharge.io/about#aboutSection3
Q10 from Telegram user @Asela1112:
Recharge Platform integrated a new point system called Frequent Use Point (FUP). Can you give a detailed explanation about the FUP?
The Recharge: FUP is the service point generated from the each connected platform. When there is a payment made on the platform, users will receive 1% of the amount they paid (This is the thing called “Service Generation Rate”). This point can be switched to RCG token on demand. This is the only constant supply of RCG. However, the platform also provides equal amount of subsidy to the ecosystem by purchasing RCG as much as the point is generated (monthly) on DEX. This is to eliminate the potential supply of RCG even from the platforms. Therefore, FUP is a fuel of Recharge Ecosystem that help make it work!
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/therecharge_official
- Medium?—?https://medium.com/therecharge
- WebSite?—?https://www.therecharge.io
- Twitter?—?https://twitter.com/TheRecharge_ad
