Hybrix AMA Recap (18th August, 2020)
🔷 Hybrix AMA Recap🔷
We organized AMA successfully with Hybrix team on 18th of August, 2020 in our telegram community group .
Thank you to Amine & Agent-725 for answering all the questions & for choosing Crypto Bharat for AMA. We look forward to collaborating more with you in the future.
Questions were submitted in our announcement tweet and questions were also asked on telegram by our community members.
Following is the transcript/recap of the AMA.
√groot:
Today’s AMA with hybrix Network Rules:-
1. Group will be muted at the start of AMA.
2. Admins will first ask 3 questions .
3. After completing Admin Q round Swingby Network team will answer best 5 questions from Twitter.
4:- After then group will be unmuted for 2 minutes (Community Round)
5. You will have only 2 minutes to ask your questions, so well prepare your question before we mute the group again.
6. Only 1 question allowed in 1 message.
7. There will be no fixed number of rounds.
8. No repeated questions.
9. No abusive language/ FUD/ spam.
10. In the interest of time, not all questions might be addressed.
🚀
Welcome to Crypto Bharat community @aminfluencer @agent725
I would be your host tonight.
Groups is muted for the AMA
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
🙏 Thank you. Nice to be here.
√groot:
@aminfluencer @agent725 would you please introduce yourself to the community !
Amine:
HY everyone, Nice to be here.
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
My name is Joachim de Koning, founder of the hybrix project. My main job in the team is setting out the vision, managing the organization, and helping out with marketing and development.
Amine:
I’m Amine, the Marketing director of hybrix. Together with my team we try to introduce the world to the necessity of the freedom to transact.
√groot:
Very impressive !
Now starting with the frst question of admin round !
Does hybrix have its own blockchain?
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
No. It does not have its own blockchain.
We have designed hybrix to work on top of the ledgers that it runs on. This means that we do not need yet another blockchain to host the hybrix protocol’s data. All data is stored in the message field of transactions done on the ledger that the HY token is traveling across.
√groot:
Thats sounds perfect !
Now the second question which our community is waiting for
Will HY be the only token to go multiledger?
Amine:
HY may be the first one, but it will not be the only one.
We have designed our protocol in such a way that new tokens and multiledger economies can be created on top of hybrix.
√groot:
Waao.
There goes the last question of our admin round
How will HY retain its value?
Amine:
The hybrix protocol rewards validators for checking the integrity of the multiledger chain of HY transactions.
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
The rewards are produced by network fees incurred from moving HY between chains. Aside from this, profits generated by the organization will in part be used to support the token market of hybrix.
√groot:
Intresting
Now this put end to our admin round
Now starting the twitter round i would like to welcome @Junkievirus to take forward this AMA and throw some lights on twitter questions
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
Hi @Junkievirus ! 😊
Junkie Virus:
Thanks for inviting me
So here’s comes the first question
1.)What are your strategies in building a big and strong community? Do you agree that the power of the community will lead your project to grow globally?
https://twitter.com/Buraysalah1763/status/1295378934356377600?s=19
Amine:
We have a clear strategy to build a big strong and organic community, we divided it in three categories: Support, Growth and Ambassadors.
These strategies will apply in a different form to our different target groups: Developers, traders and users/companies. In short: We provide support to developers and try to make every point of contact as pleasant and easy as possible. For traders we are expanding the possibilities to trade and provide fair and open market making. Key here is horizontal expansion, not vertical like some other projects are doing. This should result in a solid step-by-step growth. With users we share diverse content that educates them and keeps them in touch with our project and teaches people in general about the necessity of the freedom to transact.
We fully agree that a strong community helps us to achieve mass adoption.
√groot:
A project without a community is a dead project
There’s a saying ‘’If you want to go far go together’’
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
Absolutely agree.
Junkie Virus:
2.) What problems does Hybrix aim to solve in the ecosystem by interlinking decentralized networks? What are the benefits and profits of this and what is the role that $HY plays on it? Thank you!
https://twitter.com/Pamoato/status/1295535363818168320?s=19
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
First and foremost we want to enable anyone to move any amount of value between ledgers without needing an intermediary third party. The platform we have created for this will host the protocol, and is capable of much more.
There are numerous examples we can give of the problems that HY can solve. Our core goal is to build the bridge between all the different ecosystems in the cryptosphere.
We want to create a more solid and open atmosphere where people are in charge of the tools they use. We see that adoption in crypto is a real dealbreaker. When we can bundle the strengths of the different initiatives and platforms we believe the space as a whole can benefit.
To illustrate this here’s a concrete example: You have some ETH and want to buy bread when you are on a holiday, however, the location you are at has their own currency that means nothing to you. They don’t accept currencies other than ETH so at this point you cannot buy anything.
HY can be the solution,
you enter your favorite spot and swap whatever you have to ETH via the hybrix protocol.
√groot:
Perfecto
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
Now you can easily buy your bread hassle free. This is a small use case but it’s applicable to endless cases. You can switch chains and utilize the strengths of any chain at will.
Technically this is achieved by way of meta-layering. HY will be functioning as a meta layer on the chains.
√groot:
Guys do join their telegram channel
@hybrixgroup
Junkie Virus:
3.) What is Qrtz and what does it do on the Hybrix platform? What is the importance of having your own language? Thank you!
https://twitter.com/Pamoato/status/1295536864754118656?s=19
Amine:
Qrtz is a scripting language to make it easier to build multiledger and blockchain applications.
We use it for our own recipes (JSON-ish files to describe the characteristics of a certain token) to build multiledger asset connectors, engines and oracles.
More seasoned programmers can choose whether they want to use Qrtz, Javascript, other scripting languages or a combination of those.
Junkie Virus:
4.) • Just as Hybrix protocol accepts 391 tokens on 32 different blockchains, will Hybrix token be on those 32 blockchains or just 1?
Https://twitter.com/Ale_Urich/status/1295455964037099520?s=19
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
Good question. 😊
The answer is simple: We aim to be available on all of the supported blockchains, and even more when we include new technologies in the future.
√groot:
Upgrading is an essential part in technology.
Junkie Virus:
So here comes the last question
Amine:
drumroll….
Junkie Virus:
5.) On moving forward through your roadmap, what are your most important next priorities? Does Hybrix team have enough fundamental ( Funds, Community, etc. ) to achieve those milestones?
https://twitter.com/JacksonMartiXc/status/1295379790237700096?s=19
Amine:
Finalizing the protocol and growing a stable market and community currently are the main priorities on our roadmap.
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
At the moment we have sufficient funds to achieve these milestones. Even if we would not grow and use any of the tokens — the worst-case scenario — we are amply funded to achieve our objectives and continue operations.
√groot:
Thankyou guys for answering all those questions
So let’s open the gates of group and take questions from community !!
(Group was unmuted to accept questions from the community. Our members submitted a whopping 264 questions for Hybrix team to answer. Wow!)
Gorimapa Shevchencko:
Hybrix is working on Unified Assets, where one can send somebody digital dollars, please what are UNIFIED assets and how Secure is the HYBRIX ecosystem for all things payments are plagued with security threats and sybil attacks
√groot:
Guys ready to bombard the group now !! Go 🚀🚀
Ross:
🧩What mechanisms does Hybrix use to safeguard the ledgers and extend transaction freedom?
Limits~Arya EC ajh:
Trust is very important in business. So, what makes investors, customers and users feel safe when working with HY? And how will you get the
trust of many users that have negative thoughts about Blockchain?
Gorimapa Shevchencko:
am interested in hosting my own crypto platform which allows me to send money, how can I achieve this on HYBRIX?
💢🍥 Tuckang Short 📉:
Trader are only think about profit that they can earn. What can Hybrix offer to trader and investor? And how can Rebased convincing them to trade and invest on $HY?
Amine:
Thank you for having us here.
Gorimapa Shevchencko:
Hybrix is working on Unified Assets, where one can send somebody digital dollars, please what are UNIFIED assets and how Secure is the HYBRIX ecosystem for all things payments are plagued with security threats and sybil attacks
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
Unified assets make up a new asset class where the value of each individual asset contained in them are exchangable 1:1. This means for example that creating a unified asset out of USDT, DAI and TUSD is fairly trivial, as their individual market’s value is nearly 1:1. The strength of a UA is that a user no longer needs to know why there are multiple USD crypto’s and can simply send someone dollars, regardless of what type they are.
We’ve been working on hybrix for over 4 years, and have always had a strong focus on security. The protocol is currently being tested for weaknesses in any way we know is possible. However, we will be rolling out testing into the community once our own tests are complete, to make sure hybrix is secure before creating new economies on top of it.
Luis Zamora:
What’s the biggest leap that Hybrid has been able to take this year and hopefully takes aim at another one?
Amine:
After building for a couple of years on our platform and API we are finally out in the open and listed our token. As we mentioned in an earlier question we are working on the protocol and an active community.
Ross:
🧩What mechanisms does Hybrix use to safeguard the ledgers and extend transaction freedom?
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
We use a validation consensus mechanism to safeguard value on top of the ledgers. Aside from this, each ledger itself has its own consensus mechanism to ensure safe transactions. However, we know 51% attacks are possible, and for that reason we wanted extra validation on top of what a ledger itself has to offer.
burak yilmaz:
I am an ETHICAL HACKER AND EXPERIENCED DEVELOPER, do you have plans for HACKATHON or BUG BOUNTY so as to check the security of your ecosytem periodically and also invite developers to build
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
We are planning on two hackathons:
1. A trading-bot contest to gain additional market traction, and let the community experiment with Qrtz. This is open primarily to beginning developers, and those who are interested in making their own bots on hybrix.
2. Multi-ledger hackathon, where we invite individuals or small teams to create their own application on hybrix.
More information about this is forthcoming.
burak yilmaz:
As a developer I Know SOLIDITY, Java C, KSML, how easy is it to build DApps on Hybrix, why do you develop qgrt
Amine:
Qrtz is an entry level scripting language with powerfull capabilities. Besides that you can develop in another language as well.
Paula:
Most investors only focus on the price of the token in the short term instead of the real value of the project. Can you tell me the benefits for long-term investors?
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
We are in this for the long-term, having been around for over 4 years. So we do not expect to grow to crazy heights overnight, rather in a long and solid growth curve. That is what we hope for.
Another benefit for long-term investors is that we are focused on having collateral behind HY in multiple currencies. As can be seen on Uniswap, we are now listed against 18 pairs, and growing. This gives the price of HY more stability.
💢🍥 Tuckang Short 📉:
Could you please tell me just a little more about the Hybrix team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes.
Amine:
We are a small group and a really dedicated team who’s in it skin deep. We are working at least 2 years with each other and therefor have great synergy. Our developers have worked with several big companies. I personally have been hired by Guess, Adidas and other bigger brands to help them with their campaigns.
Katie Leo:
Would you mention some highlights of the team behind Hybrix? What in your backgrounds and experience has nurtured the platform and ensure its vision and future development?
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
We currently have a team of 7 people. Here are some of our team member’s highlights:
Joachim: has been into decentralized finance since the inception of Bitcoin. Before that he was active in the Foreign exchange market and experimenting with alternative economy technologies like Opencoin. He ran a business in IT before becoming devoted to working on hybrix, programming its kernel core, and growing the team.
Amine: creative designer and marketeer, with connections throughout the Netherlands and Europe. Knows how to make a solid brand and get it communicated to businesses.
Rouke: mathematician and lead developer. Also works in television. He has extensive experience with many areas of programming, and is capable to put a solid, agnostic and universally focused foundation under what out protocol is becoming.
George: legal expert, and project manager. He has been a stable guide in what has priority, how to protect the project from a legal and financial standpoint.
Amy Brown:
What critical problems do you see occurring in the blockchain industry now a days? How does hybrix aim to solve these problems ?
Amine:
That alot of the projects are just focusing on there own project growth. And lack in collaborating with one another. Instead of seeing other companies as competitors we collaborate and try to unite to be stronger as a whole.
Apocan:
At what exchanges are you planning the list HY token primarily?
Amine:
We are currently listed on Biki, pDex, Balancer, Uniswap and are planning to add at least 3 in the near future. Follow our channel to be he first to know.
Apocan:
At what exchanges are you planning the list HY token primarily?
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
We have decided to focus most strongly on decentralized exchanges. However, we will be listed at two centralized exchanges coming quarter, to ensure that those who have less understanding of DEXs can still participate in the market. One is a top 20 exchange, and at the other one we are already listed (Biki).
Karla Herrera Pulido:
🔸The biggest disadvantage of open source software is that in most cases, they don’t have any company behind it to provide support, how do you handle this considering that it’s the type you use?
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
We are currently setting up a company for business-to-business operations. It is still in its infancy stage: hy.company
So we will be providing support for hybrix.
Chris Luna:
What is the strategy for attracting users from outside the crypto space? How do you increase the understanding of crypto participants about the project?
Amine:
Good question. We are working everyday on several entrylevel types of content. (Articles, video’s and software)And try to make it as accessible as possible. Most of the time you don’t need to understand the unerlying technique to use something.
Tolga:
what are best and killer features of hybrix.io amongst its rivals?
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
Agnostic transfer of value between ledgers, without having to change/upgrade that ledger’s technology. No other project offers this.
Limits~Arya EC ajh:
Can you give an overview of HY tokenomics? Will the design of the token rise and fall with the success of the platform, does it include any scarce paths, such as equity, storage or burning?
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
https://hybrix.io/docs/papers/tokenomics
^- Should be what you need to know in there.
Alejandro Urich:
• How does Hybrix work? Can it be transported between blockchains for example Bitcoin to the ERC-20 network? How is this possible?
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
We utilize the OP_RETURN field for storing hybrix protocol data.
Andrew Coady:
Blockchain has many Disadvantages as well,
How do you plan to merge Blockchain as well as existing Technology to make it more Secure?
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
We are scalable in the fact that hybrix does not need a blockchain to operate. It will work just as well on a DAG, Tangle or other immutable database-type ledger.
Andrew Coady:
What are the ways are Hybrix generating profits/revenue to maintain your project and what is its revenue model ? How can it make benefit #win-win to both investors and your project
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
We will provide validation services for high-profile clients that need maximum security of their economic integrity. These clients will pay for that service, and part of those profits will be vested into the HY ecosystem, making it available for validators and holders.
Rembrandt Lucky:
Why didn’t $HY use its own agreement first but take the ERC-20 first to quickly capture the market? This is not technically difficult to implement
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
We are not Ethereum centric. So we did not create another smart contract, than simply ERC-20. This standard is enough to be interoperable with our protocol, and thus the token will be able to move to other ledgers as soon as the protocol is live.
✿ 𝙟𝙤𝙗𝙚𝙡❤ | Satoshi Club:
How do you see Hybrix project after 2–3 years from now?What is the potential of this project that will make it stand strong in the market?
Amine:
We aim to be “the” universal meta layer and bridge for all digital ledgers. We hopefully have created an movement that makes it possible to be your own economy and everyone has the freedom to transact.
Chris Luna:
What is the strategy for attracting users from outside the crypto space? How do you increase the understanding of crypto participants about the project?
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
We are working with businesses and eco-villages that are interesting in adopting our multiledger technology. It enables them to transact at the cheapest costs possible, and means they do not get ‘stuck’ in an ecosystem (like Ethereum) where the fees can suddenly rise.
David Prince:
There are 4 core issues prevalent in crypto and blockchain: Excessive Volatility, Security, Scalability and Interoperability. How do you plan to overcome these issues?
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
Excessive volatility: HY is not a stablecoin, however, we do stabilize our price by making it available against many other assets on the decentralized market.
Security: Our validation mechanism is designed to reward validators for securing the network.
Scalability: Being meta-layer, hybrix can scale to the TPS and possibilities of any blockchain.
Interoperability: We do not require other chains to adapt to the hybrix protocol, making it very easy to expand hybrix onto other ledgers, blockchains and DAGs.
Eva:
Blockchain is a rapidly changing industry. Is it possible to quickly change the design or infrastructure of Hybrix to match blockchain updates?
Amine:
Interesting question. One of the benefits of being interoperable is our flexibility and the ability to add different techniques and tokens. So we are well prepared for a new Era in crypto.
HARMONY ONE 1:
DeFi is the new frontier and buzzing in 2020, what’s your approach to DeFi and I
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
We are building multiledger DeFi. That will be hotter than the single-chain DeFi we have now.
ƛ𝖓𝖉𝖗𝖊𝖘 Ɠ𝖆𝖗𝖈𝖎𝖆 $BAND (🅑):
Does Hybrix have plan of making purchase of $HY token easier by listing it on well known centralize exchanges?
Amine:
We are. On for example Uniswap it is already quite easy though.
Nathan:
How can developers contribute to your project and how do you make a plan to get them involved? What products have been launched by Hybrix and is there a new product from Hybrix that will be introduced in the future?
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
There are many ways in which developers can contribute:
1. writing recipes or deterministic modules to add new blockchains to hybrix
2. writing Qrtz contracts or oracles for multichain DeFi applications
3. hunting for bugs and testing hybrix security
We will involve developers by organizing hackathons and giving out bounties to the winners, like we have done before.
Products we have already launched are an interoperable API, multiledger wallet, and a multiledger block explorer. More to come: multiledger DeFi (but we are keeping this a bit secret for now)
√groot:
AMA with Hybrix Network (hybrix.io) is over now as the team cannot answer everyone’s Questions due to obvious reasons.
Incase you want to ask or know anything about hybrix do join official Telegram group :- T.me/hybrixgroup
You can also follow hybrix twitter handle for upcoming updates :- twitter.com/Hybrix_io
Wish you very best hybrix team , i hope our community members learnt alot about hybrix Thank you for AMA Today. Stay safe 🚀
Agent725 | hybrix.io multi-ledger platform | HY token https://uniswap.info/token/0x9b53e429b0badd98ef7f01f03702986c516:
Thanks to all of you too! You had some very good questions! Challenging, sharp, and nice to provide the answers to. 😊
Amine:
I want to thank everyone for their great questions and feel free to join our community.
√π:
🚀
Feedback and comments are always welcome 😊
Compiled by- twitter.com/KalpeshEm for the Crypto Bharat Community.
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