AMA bubbalexmedia x ThunderCore Full Recap
We had a great AMA with ThunderCore today in our Telegram community, here is a Full Recap for those, who missed the live AMA.
Before we start here are some useful links
Hello, Peter Anh, let’s start our AMA. Please briefly introduce yourself.
Anh
Hello, I’m Vietnamese Ambassador at ThunderCore, I’ve been working in crypto space for several years now, mostly as a Community and Event Manager and Vietnamese Brand Ambassador for various crypto projects. I joined ThunderCore in March, 2020 and promoting project among Vietnamese users all that time.
Awesome, thank you for joining us, let me ask the first question. The next trend in crypto space is Interoperability and cross-chain functions, what has ThunderCore achieved in this space so far?
Anh
ThunderCore is a PoS blockchain compatible with Ethereum Virtual Machine, this means that any Dapp on Ethereum can be easily redeployed on ThunderCore for better performance.
Our ThunderBridge technology allows to make cross-chain transfers from Ethereum to ThunderCore and vice versa with the next assets: USDT, USDC, WBTC, ETH. With this we achieved compatibility with up to 75% of the crypto market value.
Our team believes that the ability to freely move crypto assets between different public blockchains is a basic right for crypto users as well as the future of the industry, hence our team has been building the ThunderBridge as early as 2019 when we launched TT-USDT last year, in an effort to build a resilient infrastructure to be used for years to come. ThunderBridge plays an important role in the ThunderCore ecosystem where DeFi applications have been flourishing. And to achieve the holy grail of interoperability, the ThunderCore team built ThunderBridge to support 75% of the crypto market cap.
As the time of writing, Bitcoin’s market share is around 60.64% of the entire crypto ecosystem, Ethereum is around 11.98%, and USDT (Tether) takes up around 4.43%. These three assets alone take up well over 75% of the entire crypto ecosystem market cap. Curiously, WBTC (Wrapped BTC) is around 1.2B, which is substantial.
Read more about ThunderBridge: https://link.medium.com/oYaXkjJcabb
How many cross-chain assets are currently on ThunderCore chain, in Hub wallet?
Anh
We just posted ThunderCore’s 2020 Yearly Report: https://medium.com/thundercore/thundercore-accomplished-rapid-ecology-development-in-2020-82300078ca9a
Current statistics is:
TT-USDT : $732,224, Holders : 16,627
TT-USDC : $25,853, Holders : 1,436
TT-WBTC : 2, Holders : 1,469
TT-ETH: 47, Holders : 1,917
The most popular asset after TT is USDT, because we made USDT cross-chain transfers possible earlier than others and this token is most popular at the Ethereum network too.
What is the usage of these cross-chain assets in the ThunderCore ecosystem? How can people use them, where to trade?
Anh
Such cross-chain tokens can be easily traded in the ThunderCore Hub with DEX TTSwap.
TTSwap is a decentralized exchange (DEX) based on the automated market-making (AMM) model inspired by Uniswap and Vitalik’s idea, built by third-party developers.
You can read more about AMM model here: https://link.medium.com/bnel73VF68
Users can now denominate their transfers in their favourite token of choice, all while enjoying the cheap transaction fees and blazingly fast confirmations on ThunderCore⚡️!
Developers can now avoid the exorbitant gas fees and long waits on Ethereum by migrating performance or gas-fee critical components of your DApp to ThunderCore while maintaining access and exposure to your favourite tokens like WBTC and USDC via their TT-WBTC and TT-USDC counterparts.
Also, people can earn mining rewards simply by holding USDT in Hub wallet. Up to 5% APR with no lockups and limits via Mining Festival https://link.medium.com/4kCGIJuG96
Up to 15% APR for TT holdings and +1% APR for binding a refer.
Read more about Referral Program: https://t.me/bubbalexmedia/870
Speaking about EVM compatibility, what about DApps adoption at ThunderCore? Which benefits developers can get by moving to the ThunderCore blockchain?
Anh
In ThunderCore we understand the importance of support for developers to grow our Ecosystem. At this moment we already have dozens of different DApps deployed on ThunderCore by third-party developers.
Last year we launched DApp Incubation Program ThunderCore En[code] Club.
The En[code] ThunderCore Club is a pre-accelerator taking the best hackathon and early-stage projects worldwide and helping them take the leap to becoming a fully fledged startup, all built on ThunderCore’s blockchain and hub.
As the results of this incubation program various DApps were deployed on ThunderCore chain and listed at ThunderCore Hub: https://link.medium.com/QRvwSTkps8
We have opened our official wallet and dapp browser ThunderCore Hub to the third party developers.
We will provide free brand promotion service for the new third-party DApps to help them increase daily activity and revenue.
Promotion service announcement: https://medium.com/@ThunderOfficial/announcement-on-free-promotion-for-third-party-dapps-on-thundercore-hub-4d10092fbf7c
The best thing we did in 2020, we launched ThunderCore Developer Jumpstart Program which directly funnels at least 10,000 active crypto users to your DApps.
Jumpstart: https://link.medium.com/XTAJbwr8Vbb
Developers of the Punchline DApp shared their experience about that program, check their article: https://link.medium.com/ot8Pj84fWbb
In addition, we have achieved strategic cooperation with Dapp_com and DappRadar, Dapps deployed on ThunderCore frequently got listed at the top Dapps for user activity at these platforms.
Serious Dice and TT Mining at the top 4 and 5 on the dapp_com https://t.me/thundercore_announcements/198
Our Quest system is also our big achievement for the year 2020. We have Social Quest for Twitter promotion and Bogo for Gamers Quest, which require users to play Dapps to earn rewards.
More about Quests: https://link.medium.com/xSmCki0KQ9
Awesome, as I see that ThunderCore achieved a lot in the Interoperability, Cross-Chain and DApps Incubation.
Regarding that, as I know third-party developers can create their own tokens on ThunderCore, but at this moment cannot directly list them in ThunderCore Hub, what causes inconvenience for the users of these DApps and for their developers.
Is there any progress with token listings in Hub?
Anh
Yes, this is an important question and our team is working on the solution. ThunderCore Ecosystem is growing faster and faster these days and we already have several third-party DApps, which are not listed in Hub and we have several new DApps in Hub which have their own tokens and these tokens are not listed in Hub yet.
Actually our Hub users can trade third-party tokens even if they are not listed in Hub yet, wallet UI do not display these assets, but they are actually stored in your wallet in blockchain, so you can access them with TTSwap DEX by smart contract search. You can’t transfer them if they are not listed, but you can swap them in DEX.
We just released Token List procedure on GitHub couple days ago, so there will be more third-party assets in Hub in the near future: https://github.com/thundercore/token-list
Thank you for the answer, I’m sure listing of third-party tokens is important for user’s convenience.
Question from Twitter #1
Who is ThunderCore’s current competitor? What will ThunderCore do to keep ThunderCore leading and growing worldwide? What are ThunderCore’s biggest ambitions in 2021?
Anh
ThunderCore aims to compete with Ethereum and other smart contract based blockchains. ThunderCore is a public blockchain compatible with Ethereum Virtual Machine, which allows developers to easily move their DApps to the ThunderCore for the better performance.
Our cross-chain assets allow users to send tokens from Ethereum to ThunderCore and vice versa.
For the DApps developers we released several supporting programs, so they can grow faster on ThunderCore.
We’ve already talked about free promotion service and incubation program, there is also a Jumpstart program for the third-party developers: https://link.medium.com/XTAJbwr8Vbb
Question from Twitter #2
Can you list 1–3 killer features of THUNDERCORE that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Anh
Short answer
- Our consensus protocol PaLa
- ThunderCore Hub
- Cross-Chain features
Our fast consensus makes it possible to build scalable DApps on ThunderCore, with 1sec confirmation time for the transactions our users can enjoy seamless performance.
ThunderCore Hub is our official wallet with built-in DApp browser, which allows our users to use various DApps deployed on ThunderCore. With a large user base any third-party DApp can be promoted and receive a lot of new users in a short amount of time, by such promotion we can attract more third-party developers to work on ThunderCore to make our Ecosystem bigger.
Cross-Chain assets, such as TT-ETH, TT-WBTC, TT-USDT and TT-USDC can be transferred from Ethereum to ThunderCore network and vice versa, such assets also can be used on DEX for the token trading inside ThunderCore Hub wallet. Our users can also become liquidity providers.
Question from Twitter #3
What is the main problem in the crypto market, which can be solved by Thundercore?
Anh
The main problem we are trying to solve is high transaction fees, bad scalability and long time transaction confirmation at the old blockchains, such as Ethereum. With all this attention around DeFi during 2020 and now during Ethereum pump all the users can see that the transaction fee is incredibly high, making it impossible to send low amounts of assets, with fees ~10$ many people cannot transfer their tokens these times.
On ThunderCore the fee is very low and the confirmation time is ~1sec, DApps deployed on ThunderCore can work with payments of less than 1 TT and our users can send back and forward low amounts of tokens without spending large fees or waiting hours for the transaction confirmation.
Question from Twitter #4
Once the product is developed, one of the main challenges seems to be adoption. What are some of the plans to stimulate adoption and build out the ecosystem around THUNDERCORE ?
Anh
This is a very good question, the main factor to grow is adoption and to work on we have several supporting programs for the third-party developers and various types of DApps for our users.
Last year we launched DApp Incubation Program ThunderCore En[code] Club.
The En[code] ThunderCore Club is a pre-accelerator taking the best hackathon and early-stage projects worldwide and helping them take the leap to becoming a fully fledged startup, all built on ThunderCore’s blockchain and hub. As the results of this incubation program various DApps were deployed on ThunderCore chain and listed at ThunderCore Hub.
We have opened our official wallet and dapp browser ThunderCore Hub to the third party developers.
We also launched ThunderCore Developer Jumpstart Program which directly funnels at least 10,000 active crypto users to your DApps.
Jumpstart Announcement: https://link.medium.com/XTAJbwr8Vbb
Developers of the Punchline DApp shared their experience about that program, check their article: https://link.medium.com/ot8Pj84fWbb
In addition, we have achieved strategic cooperation with Dapp_com and DappRadar, Dapps deployed on ThunderCore frequently got listed at the top Dapps for user activity at these platforms.
Question from Twitter #5
You will agree with me that when building financial instruments, it is important that they are accessible to everyone including novices. Does the THUNDERCORE platform cater for novices?
Anh
Yes, our main goal is to keep blockchain features as simple and accessible as possible, in ThunderCore Hub you can create your wallet via Facebook or Gmail, without even knowing about such complicated things as private keys and mnemonic phrases.
We understand that some of our experienced users want to have these options too, but as for now we see our goal is to keep Hub simple to use.
We have a Quest system, rewarding people for the interaction with our Ecosystem. Hub supports many languages, such as English, Simplified Chinese, Traditional Chinese, Vietnamese, Korean, Japanese, Indonesian, Turkish, Russian, Portuegese. In addition to the Hub translation last year we launched even more local Telegram communities, so our users can receive support in their native language without learning English.
List of our Global Communities: https://t.me/thundercore_announcements/43
Well, Anh, thank you for the answers, ThunderCore is doing really great development and achieved a lot during 2020, wish ThunderCore team to achieve even more in 2021!
Question from Telegram #1
I want to learn more about THUNDERCORE but very little information, the community is relatively empty and little information is shared. What strategy does the THUNDERCORE team have to develop the community and retain users for the long term?
Anh
There is a lot of information about ThunderCore, but yes, maybe it is hard for new users to understand all the things team developed over years.
I suggest you to join our announcement channel
https://t.me/thundercore_announcements
Or Medium blog https://medium.com/@ThunderOfficial
We understand the value of the community, because of that last year we launched dozens of the local communities and translated Hub to even more languages.
We are still at the early stage in the development of these communities, some of them are already very big and living their own life without even knowing about English community, but for some regions we didn’t opened local support yet.
In order to engage with our community and keep them in long-term we have such events as current AMA, Quest system.
Adoption of the third-party Dapps also helps us to grow our Ecosystem and more users will enjoy various different Dapps
Question from Telegram #2
Do you plan to build partnerships with local cryptocurrency developers and local projects in each country to make the use of ThunderCore more global?
Anh
Yes, this is possible, most of our local communities were launched only last year and still in the progress of the development, but we already managing various events at each of our active local community in order to keep them grow.
At the later stages we may see that some of our Global Ambassadors will bring local project from his region to make a partnership with ThunderCore.
Beside that, we have working platform with Taipei Government — i-Voting
Article 1: https://link.medium.com/f6kBLkZO06
And 2: https://link.medium.com/yi10oykG6bb
Question from Telegram #3
Stacking, Liquidity mining, Yield farming has been a very popular concept and a strategy for DeFi projects to boostrapping nowadays, does TT has similar planning to incentivize TT adoption?
Anh
ThunderCore is not a DeFi project, it is a public blockchain, but as a team we are looking at the DeFi sector too.
We have our Mining Festival allowing to earn up to 15% APR https://link.medium.com/4kCGIJuG96
SuperNode Staking with higher APR, but with lockup period https://medium.com/thundercore/thundercore-super-node-staking-pool-service-launched-c391c1dbcaff
ThunderCore’s DeFi Landscape published
https://t.me/thundercore_announcements/131
There is also several articles about our AMM DEX TTSwap https://link.medium.com/rwJ6k3j4T9
And recently another third-party DEX EggDex joined ThunderCore Hub, there are also different tokens and staking systems from third-party projects such as Nicer, Riser, Serious Dice, etc.
Question from Telegram #4
I have seen that you have done many AMAs, my question is, what do you expect to get from so many AMAs and what are your goals with the community? Do you consider the community to be a fundamental role in the project?
Anh
We run regular AMAs and events to increase community awareness of ThunderCore and use of ThunderCore Hub. We want to build a global ThunderCore community of strong supporters in the project.
Community is a key to the ThunderCore’s success.
The community playing big role in ThunderCore development, without huge community we can’t talk about real adoption.
ThunderCore’s main goal is to attract more users and keep old users. AMA’s allowing us to do both.
Question from Telegram #5
Who is your target customers - professional traders or the one’s that are just getting started? Who can benefit the most from the tools that you are offering?
Anh
I think both, of course any project needs professional users, traders, developers, but there are not so many of them. To have real massive adoption we need to attract new users, not only new to the ThunderCore project, but new to the blockchain technology itself.
Our main goal is to keep blockchain features as simple and accessible as possible, in ThunderCore Hub you can create your wallet via Facebook or Gmail, without even knowing about such complicated things as private keys and mnemonic phrases.
Regular users can gain some free tokens and enjoy various games and learn about blockchain step by step.
Experienced users can also benefit from ThunderCore by Staking, Mining, DEX and other third-party DApps.
Thank you all again, it was a great AMA!
If you still have questions — join ThunderCore group! https://t.me/thunder_official
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