💣 AMA RECAP WITH AVARTA 💣
Hosted by — Crypto Nation
Dated — 7th December
💣 INTRODUCTION SEGMENT 💣
Greetings everyone !! ✨
I extend a warm welcome to Respected sir, @HongLoonAvarta from Team "Avarta Network" who are today's AMA presenter's . 🙏🏻
It's our absolute pleasure to have you here with us. I am sure that we all be enriched today after knowing about Avarta Network .
Thank you for having us. We are honoured to be here with the Crypto Nation community
Let's begin the today's session with the very first segment that is "Introductory segment".
Before proceeding ahead I would like to request you to kindly type "done" after completion of every answer in order to avoid any confusion.
Shall we begin sir @HongLoonAvarta ?
That sounds good, let's begin
Q1. Can you briefly describe what is Avarta. We would like to know more about it and how it works.?
Sure! Avarta is bringing the world's first complete multi-chain, multi-factor authentication ecosystem with biometrically enabled signing, where you can sign your transactions using your biometrics as private keys. We are building a distinctive Trust Scoring System of its own for the DeFi and Metaverse ecosystem.
Avarta utilizes patented solutions to help build a safe, yet secured ecosystem for transactions, DeFi lending and Metaverse Scoring
Perfect guy's !
That's a great start ! Looking forward to know more about the same.
Q2: Can you introduce what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
The growth of the blockchain relies on critical mass adoption or the blockchain.
The lack of critical user mass due to a seamless user experience to transactions, and accessing DeFi and Metaverse projects.
Avarta aims to build an biometrics centric ecosystem to improve user experience to promote critical growth of the blockchain.
Avarta can do this while providing complete anonymity to the end user in a scheme akin to zero knowledge proofs, the proof of non-custodial signatures allow us to verify ownership without knowing what the private key is.
Done, an excellent question
You guy's are going on a great speed with such great concepts ! That's so commendable of you !
Q3. Could you please elaborate more about your tokenomics?What’s the total supply and what kind of plans do you have regarding it that unlocks in the future?
Yes, we can. And our Tokenomics model fits in perfectly to what we are building
Avarta is built as a utility token with user cases for services and transactions on the Avarta Trust Score, multichain wallet and Whitelisting
We have a total supply of 200 Million tokens. The token has user cases to be found in our Token Utility Paper found here: https://rb.gy/v5rmy5
We have built our tokenomics to ensure that all investors and strategic partners are with us for the long run, with the utility of the tokens as the most important point
Done, the above is what our tokenomics do
Woho ! That's something we all want ! 💯 Transparency is clearly setting you apart from crowd !
Q4. Can you share the achievements the team has made so far ? what are the major achievement target Avarta is yet to achieve could u share the achievement...
Thank you for the question. Of course we are happy to share
Since inception in Q2'21, we have grown from strength to strength. We are able to transact on the testnet across multiple chains and have successfully partnered with strong VCs and KOLs to grow the project.
Moving forward, we are very close to key partnerships with strong names in the blockchain world to build our base around the Avarta Trust Score and multi-chain wallet. These names include top-tier exchanges and partners that can offer us additional solutions to what we have. Ultimately, our partnerships and achievements serves to cater to the needs of the community.
Please stay tuned in the Avarta Telegram group: https://t.me/AvartaOfficial for more exciting announcements!
Q5: What is your knowledge in the field and what makes you an ideal team make this project a success? And who are your Strategic Investors?
Definitely! Avarta works as a team to try to deliver a superior solution to the community. All of our members have strong experience in the blockchain.
For example, our dev team has experience developing on multiple chains. For us, it is critical to deliver a superior solution in partnership with the community. The Avarta team cannot do this alone without community involvement. For us, the ideal team is a tech focused one with a strong feedback from the community.
We have strong partners such as X21, the Prince Abdul Qawi of Brunei and the Magnus consortium. We shall be announcing more investors on a later date
Well based on your quality of answers am pretty sure that you have that required talent and hard work to accomplish this achievement!!🔥🔥🔥
With this we come to the end of segment-1.
💣 TWITTER SEGMENT 💣
Q1. FROM @themiracleboy0
There are many NFT projects incorporating Metaverse today. So there should be high competitiveness in the market, and users more selective when participating in new platforms. So, what are the excellent features that make AVARTA stand out from other blockchain projects?
Happy to have you today
For the Avarta project, we are building the Avarta Trust Score to serve all the Metaverses in the blockchain world today.
Avarta provides a scoring mechanism to facilitate transactions across all metaverses, on a multi chain level. This scoring mechanism can be obtained by Metaverse or DeFi platforms through API calls, which makes it a seamlessly interoperable solution.
That is our unique selling point that differentiates us, we are able to operate and work with all metaverses
This is really setting you apart from the crowd !
Q2: From @0JeanWayn
Can you explain to us how does the Avarta Trust Scoring works? How does your protocol determine and measure users' Trust Scores? What are the benefits if a certain user has positive Trust Score?
Excellent question from @0JeanWayn
With Avarta, we utilize a series of on-chain and off-chain parameters for the Trust Score:
These parameters cover multiple chains and gives a strong and accurate scoring. For example, if the account uses a burner phone or the biometrics do not align, the user shall have a lower score.
The benefit of Avarta Trust Score is such that it creates a form of decentralized transparency on the Metaverse; whereby we do not need to know the user's identity, yet be able to help facilitate with understanding the user
With that, we can help facilitate P2P transactions on the Metaverse and Web 3.0
I must say that you Guy's are really justifying the term " Success".
Q:3 From @Harrypee10
We all know that DeFi is currently one of the most hotly debated and sought-after subjects in the blockchain world. Is it possible for Avarta to express their ideas on DeFi with this group? What is the attitude of the Avarta area to the DeFi sector?
Definitely! @Harrypee10 This is an excellent question and a view point which a lot of community users are curious about
We view that there shall be a balance between DeFi and regulations, and it is a delicate one. With Avarta, we hope to help DeFi users navigate a regulated DeFi world with a superior user experience.
For example, for the DeFi ecosystem to grow, Avarta hopes to build a DeFi ecosystem with better collateralization ratios and lower lending rates for all blockchain users, through our Avarta Trust Score.
With Avarta, a more regulated DeFi world is not a threat, it is an opportunity for everyone
Q:4 From @lexus570srs
How is "AvartaNetwork' development going? Can you describe in detail current development efforts, market expansion plans, expected applications, and when will they become commercially available?
Of course, we are more than happy to share that @lexus570srs
Please find our product development roadmap:
2021Q4: Proof of Concept and Technical Solutioning for Production Wallet
2022Q1: Testnet Avarta Wallet with 7 chains
2022 Q2: Mainnet Avarta Wallet with 7 chains. First version of Avarta Trust Score Methodology.
2022 Q3: Testnet implementation of Trust Score Methodologies, Avarta Wallet to include new features such as Whitelisting, Cross Chain Token Swaps etc
2022 Q4: More Avarta Wallet features, Trust Score to be implemented in Wallet under limited release
Eventually, we are building an ecosystem where transactions, Whitelisting, borrowing/ lending and the Metaverse will only be one facial recognition away
Well you guys are really working very hard and i can clearly see you guys standing on a big position in near future!!!
Keep up the good work Team!!😍
Q5: FROM @BlinkHustle1
What is the role of your token and project in the entire ecosystem? Will it act as a simple payment currency across all your products? Or will its holders have some interest or vote in project decisions?
Hi @BlinkHustle1, excellent question surrounding the tokens
The Token offers utility for 3 main areas:
1) Better rates for Avarta ecosystem such as membership tiers, revenue sharing, loan rates
2) Participation in the DAO
3) Functions as a capital reward to users with better trust scores, to further grow the Avarta ecosystem in a sustainable manner.
Well with this we come to the end of segment-2 as well !
💣 LIVE SEGMENT 💣
@HongLoonAvarta , Before starting the live segment, kindly type a random 4 digit numeric code here.
It is used to eliminate the bot questions🔥
Note* - We need only one code
💎Rules for Live Session are as follows💎 :-
💥I will be unmuting chat for 60 seconds.
💥You need to write the following code in the end of your question - 1234
✅Slomo of 10 seconds will be used.
✅No more than 10 questions per person
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✅ Eligible participation conditions: Subscribe to their Telegram Group and Twitter channel.
💥Failure to follow rules will lead to you getting banned from the community and also losing your reward.
Everyone get set ready !
Countdown begins !
Hello sir"❤️ Do the token holders have right to the participate in the governance of the project? On what kind of decisions can they vote on about the project?
What does your roadmap for 2021-22 look like? Name some important milestones you are hoping to achieve?
This is an excellent question around governance. With Avarta, we aim to allow participation of the community to help decide certain aspects of our project, such as which chains to build on and what features they want to see.
For our roadmap, we aim to build the Avarta multi-chain wallet by Q1'22, whitelisting capabilities by Q2'22 and the Avarta Trust Score will be available by Q3'22, with full production end of the year
Is your platform suitable for crypto beginners? Or does it only limited for professional users ?1234
Absolutely, our project is most suited for users who wants to start in crypto. The biometrics solution clearly allows easy access to transactions. With our cross chain swaps coming up, we also cater to professional users who wants something more than easy user experience
3 more to go !
Can you list 1-3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about? 1234
Excellent question there
Our 3 killer features are:
1) Transactions on the blockchain with your biometrics, on a multi-chain level
2) Whitelisting of addresses with your biometrics
3) Avarta Trust Score allows easy transaction on the Metaverse, as you can see the score on the other person without knowing who they are. We coin it "Decentralized Transparency"
Trịnh Trần Trọng Trưởng:
Almost 4/5 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term? 1234
Definitely, the price of Avarta Token is only a small part of the equation.
With Avarta and our features, you can use us seamlessly across different chains; in DeFi and the Metaverse. This is very strong value add, on top of the token price
Avarta develops many products, which is an advantage when it can meet almost the needs of users. However, does developing many products make management difficult? How do you ensure the quality of all Avarta products? 1234
Well with this we come to the end of today's session.
Thank you so much @HongLoonAvarta for giving us all such exciting information about Avarta.
It was worth having you!
Thank you everyone for joining in and don't forget to join their community channels for further updates.
Wishing you and your entire team for future success. @HongLoonAvarta
Have a nice eve all
We have best in class developers to help build our ecosystem of solutions
With an open-sourced nature, bug bounty programs and constant feedback from the community, we endeavour to grow and be best in class
Thank you sir !
Great AMA !
Unmuting chats now