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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 Swarm Network and our guests were @TokenAddict @daniel198913. The AMA took place on 17 May.
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 community
Gold Rocket | Satoshi Club: Hello, dear community!
We are pleased to announce AMA with Swarm Network
Today our guests are @TokenAddict @daniel198913!
Andres M. | Satoshi Club: [ Sticker ]
Token Addict: Hi everyone
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, guys!
Andres M. | Satoshi Club: How are you today?
Daniel: Hey everyone!
Andres M. | Satoshi Club: Welcome!
Daniel: I am doing great, thank you for asking!
Gold Rocket | Satoshi Club: We are very excited about the upcoming AMA, and you?
Daniel: Of course, we are honoured for the opportunity to be here with you today!
Token Addict: Great thanks, nice to be here today and tell everyone about Swarm!
Andres M. | Satoshi Club: Well, we are excited for this AMA session, could you please introduce yourself? We would like to know more about you
Gold Rocket | Satoshi Club: Well! Let’s start
Introduce youreself please. How did you get to be involved in crypto & Swarm Network?
Tell us please about yourself and your position in Swarm Network.
Token Addict: Swarm is entirely decentralized, its has its own elected DAO call the SNC (Swarm Network Council) effectively these are community members that assist strategically.
I have been involved with Swarm for a number of years, simply as an active community member and leading on development of the technical side for Swarm Networks open source tools for tokenization.
Daniel: My name is Daniel Faria, I’ve been involved in this space since 2015 . I’m an entrepreneur who has founded a few succesful companies and believes in the future of Tokenization and I have joined the Swarm Council to provide mentoriship and credibility to this very ambitious project.
Andres M. | Satoshi Club: Great background
Token Addict: I came into being interested in Swarm as I have always feel strongly that blockchain and tokenization has huge potential, aligned with Swarms open nature, it was a good fit.
Gold Rocket | Satoshi Club: Thank you for sharing! Great experience for good project
How long does it take to develop a project? What plans do you have for the future? And what can we expect from Swarm Network?
Andres M. | Satoshi Club: And how big is your team?
Daniel: Swarm will always be fully decentralized and adopts the same philosophy of projects like Uniswap, Rocketpool, etc. We are strictly focused on enabling this movement and have partners in our community assisting with regulatory needs and onboarding issuers through our app. Our code has been open-sourced and we aim to remain fully decentralized from a technology perspective.
Our team has over 10 people
Gold Rocket | Satoshi Club: Sounds good!
Andres M. | Satoshi Club: Well, we are excited to know more about the project through the community questions we have collected
Are you ready?
Token Addict: Sure
Q1 from Telegram User @johana0012
Swarm Network’s SRC20 protocol is an open, permissionless standard that allows anyone to build on the foundation and fully empowers the user with the ability to create compliant digital assets. Is Swarm required as a fee for services to mint tokens in Swarm’s SRC20 protocol? Has the Swarm Network team considered implementing NFT usage on their platform to enhance various features? What are the fundamental characteristics that the Swarm Network protocol complies with?
Daniel: Market Development Partnerships:
1. Early-Stage technology companies who are developing crypto projects and want to fundraise by issuing tokens.
2. Tokenization of NFT’s by partnering with NFT companies & artists.
3. Marketing campaigns for Fast Consumer Goods companies (tokenizing cups of coffee, for example)
4. Tokenization of Assets including collectibles, real estate, art, natural resources, funds, and more.
Due to the complex regulatory market of tokenization globally, from a roadmap perspective we have realized that in order to successfully execute our vision, we need to start by working with assets and projects that are familiar with the crypto space. We will have our community leaders focused on the development of the following market plan:
Andres M. | Satoshi Club: Which NFT companies have your partnered until now?
Token Addict: None to date, but this is a area we are investigating with a number of potential partners.
Swarm has had many prestigious offerings run on the technology layer, even Siemens Energy Systems has worked with Swarm.
Andres M. | Satoshi Club: Great so, how hard would be the process to create our own Satoshi Club token for example?
Token Addict: Very simple. the UI is extremely easy to use to both create and manage digital tokens.
This includes features to create whitelists, transfer rules. run a fundraiser, distribute dividends and more. All with a few clicks and no code knowledge needed.
Andres M. | Satoshi Club: Is it easy even for non crypto users?
Token Addict: Anyone can use this, permission less to create and manage tokens. A METAMASK wallet is all anyone needs, and since they are Ethereum based tokens, secondary markets are not an issue versus providers building on their own chains.
Daniel: Correct, very easy. This was a main selling point for me , and we are creating a tutorial and videos so people can easily see from start to finish how to get it done. This is part of our roadmap.
Token Addict: I would say like anything in crypto, one needs a basic level of knowledge OFC just to understand what tokens are and gas etc to deploy… but yes the UI would be pretty easily understood and usable for anyone.
Gold Rocket | Satoshi Club: So, it’s a mass adoption
Andres M. | Satoshi Club: Well done guys, that’s the way to increase the adoption
Gold Rocket | Satoshi Club: Thank you for such detailed answers! ready for the next question?
Token Addict:
Q2 from Telegram user @surendra040
I am not a profession but When I tried to use swarm network to create or manage new tokens I couldn’t understand regarding token features like account freeze, contract freeze and force transfer. How does this works and do you have any plan to educate beginner s like me?
Token Addict: Good question
So those features are designed remember for security tokens features, securities have to be regulatory compliant and and STO would need those.
Those controls can be either ON or OFF, there is no need to engage those if its not an STO.
Andres M. | Satoshi Club: Do you have some guides?
Token Addict: Reality is if doing an STO, one would have legal guidance on what is needed before configuration. We already explain all the features on the Gitbook and what they do.
But like Daniel says, we can have a education library also, videos on issuance etc…
Daniel: https://docs.swarmnetwork.org/
Token Addict: The UI itself if you hover over any features explains what it is in addition
Andres M. | Satoshi Club: Thanks for share it, I think is so interesting
Gold Rocket | Satoshi Club: @surendra040 check it
Andres M. | Satoshi Club: Btw, what is the token distribution of STO?
Gold Rocket | Satoshi Club: thanks a lot for the answers! do you want to add something or we can proceed to the next question
Daniel: I’d like to share this information as valuable
complimentary details
Andres M. | Satoshi Club: Yes please, share all the info that you want
Daniel: We are looking at the following R&D plans:
Gold Rocket | Satoshi Club: Go ahead
Daniel: R&D community plan and code development plans:
· Releasing Swarm App in BNB Chain and listing on Pancake Swap
· Study and develop tokenization solutions fully integrated with Parachains. We are actively looking at Parachain Slots, auctions and how to integrate with Kusama.
· Layer 2 Collaborations.
Token Addict: It would be up to the issuer/creator, they could send the tokens to the investors or have those investors claim the tokens.
Andres M. | Satoshi Club: That’s your roadmap?
Daniel: It’s part of our R&D plan, our roadmap will be published later this week .
There’s a formal announcement coming up
Andres M. | Satoshi Club: Thanks for share it, would you like to proceed with the next question?
Daniel: Yes, please share next quesiton
Q3 from Telegram User @andrey_seleznov
Please share some details about the swarm native token SWM. Will it be inflationary or deflationary in nature? SWM is currently listed on the Uniswap, do you plan to list SWM on more exchanges, decentralized as well as centralized? If so, which ones can expect to be graced with the chance of hosting the SWM ?
Daniel: Inflationary in Nature. Here is our exchange listing roadmap bellow
Our community has actively been discussing the possibility of working with the following exchanges.
Tier 1:
· Binance
· Kraken
· Bitfinex
Tier 2:
· Coinsbit
· Mandela
· Kucoin
Securing listings with Exchanges can be a complicated and expensive proposition unless there is true utility driving demand for the token or strong relationships in place. We feel confident in our ability to get Swarm listed but we also hope that the community will develop a layer 2 solution on Swarm that will provide exchange functionality as well as highly reduced token transfer costs.
Andres M. | Satoshi Club: What is the max supply and the current market cap?
Daniel: 100,000,000 is the max supply
circulating supply is 78.9 mil
Fully dilluted market cap 13.2 M$
Andres M. | Satoshi Club: Great roadmap, listing exchange on BINANCE have any approximated date? Q2 or Q3?
That’s what I call a gem
Gold Rocket | Satoshi Club: Absolutely
Daniel: We do not like to comment on listing deadlines because we don’t control it. What I can share is that we have a lot of interest in our project.
And we are indeed in active discussions with multiple exchanges.
By supporting our token on Uniswap and being a valued community member, you can help us get there faster.
Andres M. | Satoshi Club: We understand, thank you so much for your clear answers. Would you like to add something before the next question?
Of course, please share us the link to your communities to join
Daniel: Our telegram channel is here : https://t.me/swarmfund
Gold Rocket | Satoshi Club: Join, please, Satoshi Clubbers
Andres M. | Satoshi Club: So, let’s proceed
Q4 from Telegram user @ngonguyenkhang
Swarm is in the tokenization space. According to PWC report, the expected market size for security tokens in 2030 is $2,000 billion. You are serving a large market here. Tokenization is the next big thing in my honest opinion and will revolutionize the financial world. For those who don’t know anything about the term tokenization. What exactly is tokenization and how does Swarm fit in here?
Daniel: For those who want to participate in our proposals and working groups, please join our discord:
https://discord.gg/tFb5CtAb
Gold Rocket | Satoshi Club: Pay attention, Satoshi Club
Andres M. | Satoshi Club: Is there rewards for ideas, right?
Daniel: Yes sir!
Token Addict: responding to this now, great question
Tokenization is effectively the representation of something with a blockchain token. E.g. a property worth $1m could be tokenized on Swarm and represented with 1000 blockchain tokens (SRC20 tokens?—?modified version of ERC20 for securities) each with a value of $1000. This is making it easier to potentially fractionalise and distribute assets, all at low cost upfront and with no ongoing recurring fee’s. Blockchain of course is the settlement and clearing layer so it is faster and more transparent than what we see today in legacy non blockchain industry, tokenization is removing middle-men and cost.
These tokens would have all the regulatory controls baked in to meet securities regulations with SRC20.
Tokenization will become mainstream over time the same way that many here trade utility tokens and DeFi protocols on Ethereum, huge amounts of assets (art, property, bonds, equity etc…) will be tokenized and traded, creating greater liquidity. We are already seeing regulated exchange spring up for trading such assets, this was a really missing part particularly in EU, having spoken with hundreds of issuers over the years, I am glad to see this all taking shape on both primary issuance and secondary trading outlets for the tokens themselves.
Token Addict: Swarm gives people an open no upfront cost way to try and leverage the next big coming wave of growth in the form of tokenization of assets.
One can raise funds from around the world on Swarm app with zero upfront costs
Andres M. | Satoshi Club: So clear. I would like to know about safety in your platform, has it been audited? Which problems did you find in the audit process?
Token Addict: All the smart contracts were audited originally and we had them audited a second time when we launched the app as we made some minor changes. Reports are on github
Zero critical errors or suggestions of change and some minor debatable suggestions.
Full clean bill of health all round.
Gold Rocket | Satoshi Club: Safety first
Andres M. | Satoshi Club: Well job, as Gold Rocket said, safety first
Let’s proceed with the 5th question, ready to go?
Token Addict: Please go for it
Q5 from Telegram user @NataliyaKil
Swarm Network is partnering with VersoView, a marketing publication solution with tokenized reward structures. What is VersoView? What technologies do you use, offered by VersoView and what does this collaboration give to Swarm Network?
Token Addict: Verso View have a platform to reward engagement in media publications. they have some very large partners and customers. Potential issuers on Swarm platform can also leverage VV solutions. So it’s mutually beneficial. VV can assist Swarm with high calibre marketing opportunities.
Andres M. | Satoshi Club: Do you have more partnerships similar to Verso View?
Daniel: We have a pipeline of partnerships coming along and they will be announced over the next few months
Andres M. | Satoshi Club: We will be waiting for it, don’t forget to share it with us
Token Addict: Yea there are lots of legacy partners and lots more to come, not able to go into all of them in detail.
Andres M. | Satoshi Club: But, could you tell us what is the greatest event coming for Swarm Network in the roadmap?
Daniel: We will be adding some heavy hitters to our operations team , people that are senior executives and super well known in the crypto market !! This could be announced this week!!!
Andres M. | Satoshi Club: Do you have an announcement channel?
Daniel: Yes
it’s on discord
Andres M. | Satoshi Club: There, let’s join Satoshiclubbers
Thank for the clear answers and our best wishes for your coming events
Let’s proceed with the final question!
Q6 from Telegram User @Xusuo
I read that swarm use Term Agnostik and possible to use multiple chain. Could you explain what is term agnostik? If you can use multiple chain, is that mean you can offer your service to more than one chain? What chain that already support your service?
Daniel: The service is currently supported on the Ethereum chain. We are looking at cross-chain solutions to distribute our product, the term agnostic means our desire to bring the tokenization movement beyond ethereum and by looking at other solutions like Polkadot, Parachains , BNB , etc . We are maximizing the potential of the token. Besides we are reasearching how we could use MATIC/Polygon as well.
Andres M. | Satoshi Club: Thank you guys for your amazing answers, it was an honor to know more about an interesting project like yours
Now is time to interact with our dear community users. Is time to go with the live segment
Part 2?—?live questions from the Telegram community
Q1 from telegram username @alptrader
Swarm looks like to have same philosophy of projects like Uniswap so what makes you different from them?
Daniel: Our network philosophy is the same, our product functionality and application are completely different. We are a tool to tokenize solutions. Uniswap would be an ecossystem partner , not a competitor.
Q2 from telegram username @Antoni_azx
They say in their whitepaper that the Swarm Network platform will be free, but having Ethereum as its base blockchain, it will play against the high level of transaction fees. Do you have any plans in mind to make the gas issue a little more viable?
Daniel: The high transactions fees can be mitigated by have a side-chain to do small transactions and keep the large credible issuances on the public network. A good example is with projects like Polkamon, they don’t mint all NFT’s to the Ethereum chain, only the ones people chose to mint and they have a cheap side-chain on the side for small transactions.
Q3 from telegram username @cindy_crypto
Do you plan to create a Binance Smart Chain version of the Swarm and list it maybe on pancakeswap or bakeryswap?
Daniel: Yes, we are very bullish on BNB and we want to part-take in their amazing ecosystem. We are currently working on solidfying our community structre before we release the deadlines for this.
Q4 from telegram username @Dr_GemHunter
One of many advantages of tokenizing assets is that they can be traded 24/7, but so far there are hardly any regulated exchanges where securities can be traded. How long do you think it will take the market to react to this? Do you think the major exchanges (such as Binance) will come out with a regulated exchange that can be used for securities?
Daniel: We know they will. Our vision is very bold and we know this can change the world. The way value is stored and our strategy to perceive ownership of items and what currency means will be significantly disrupted by our project.
Q5 from telegram username @Johana0012
Swarm’s native SWM (ERC20) token is the lifeblood of the Swarm Network, giving voice to all holders. What are the principles on which this token has been forged? What functions does the elected Council fulfill within the platform? Who is in charge of selecting the members of this council? How can I collect rewards by implementing the use of Swarm?
Daniel: The swarm council is the regulatory community body to ensure treasury is well spent and only proposals that will benefit the community are put forth to voting. We are also responsible to bridge the community’s desires and the financial impacts to the project of those.
Q6 from telegram username @highpee
I am a huge fan of projects that are completely decentralized and you said Swarm, being entirely decentralized will be governed by its own elected DAO called the SWARM NETWORK COUNCIL. How are the members of this Council elected? How confident can investors rely on the council members to make good project decisions? Can anyone aspire to be member of council or is the composition fixed?
Daniel: Investors should have abosolute confidence in the integrity of the council and that the team is working hard. We will never provide financial advice. We like this token. Our vetting process is very strict and everyone has shared their public identity and will be happy to answer any questions from community members or investors.
Q7 from telegram username @killer_been1 –
What is your strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally? What services do you provide to the community?
Daniel: Marketing plan:
· Build our Knowledge Base & support system
· Update website with clarity
· Community outreach
· Sponsor crypto & start-up related podcasts
· Joint press releases with issuers
· Partnership agreements with accelerators and incubators.
· Affiliate system to incentivize referrals
Q8 from telegram username @killer_been1
All project’s coins have their main Utilities & real-life use! So, Can you tell us what the main role of your coin is in your ecosystem? Explain its Utilities & Real-Life use cases? and Why should i invest in your coin for the long term?
Daniel: Our coin is one of the few projects out there in Crypto that already has real-life companies and businesses using it! We never spent too much time on marketing over the years and have acquired multiple partners along the way who share the same vision as we do. We aim to be the one-stop shop for DECENTRALIZED tokenization.
Q9 from telegram username @V1ct0r_26
I read that Masternodes programme at Swarm was really strongly adopted by community, however Swarm made the decision of retiring the Mastenode programme and redistribute rewards in a new fashion to holders who stake SWM, could you share more about this with us? Why if the programme was a success you decided to retire anyway? And why did you choose SWM Staking as a replacement? What benefits does this bring to users?
Daniel: Swarm is going through transformational changes and adapting to the latest technologies available. We will always work hard to reform the community and enable further growth. Our plan has never been more ambitious and we have experienced very significant growth. Our recent price action and multiple marketing engagements are a result of that success and we hope to continue to share it with you all.
Q10 from telegram username @contreras2004
As a tokenization app, the team behind the mySwarm.app will need to hand pick or filter most of the first projects that will be available for fundraising on the platform. When will we have a more detailed process of submitting new projects to the app and what will be the minimum requirements that a project will need to meet in order to be picked to participate so it does not fill with scam projects like it has happened before in other platforms? (sorry for my english)
Token Addict: Swarm does not vet or whitelist projects for listing, its entirely a self service and permission less DeFi tool.
DYOR on any offerings created on Swarm app for contribution.
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.
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