CRYPTO SYZYGY : AMA Session With Crust Network
AMA On Thursday, December 23rd At 01:00 PM UTC
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We were so pleased to host our Telegram AMA session with Crust Network where we gave you the chance to ask the team anything you liked. And you certainly delivered!
Summary of the AMA
- Team and Project Intros
- Questions and Answers
Crypto King: Ladies and Gentlemen!
Good evening/Good morning wherever you are :)
I welcome you all to today’s #AMA with #CRUST Network, one of the contenders for DOT Parachain. We have Mr. Ludwig with us representing CRUST. He is a Global Marketing Director there. Elated to have him here on this forum 😊
Welcome Ludwig to #Syzygy gang👏👏
Mr. Lude: Hey everybody thanks for having me today!
Crypto King: Fantastic. So Ludwig let’s start with the AMA session. We have a basic structure of the AMA where I will be asking few questions about CRUST. All set?
Mr. Lude: sounds good to me. Lets go!
Crypto King: Could you please formally introduce yourself? Like your background, experience, and journey in crypto space?
Mr. Lude: It is Lude here and I am representing Crust Network as Global Marketing Lead. Before joining Crust I was working in the Web2 software-as-a-service and cloud computing industry and are delighted to have joined the Web3 revolution.
I joined the Blockchain community in 2017 and have been addicted to this exciting and sometime crazy industry ever since.
Crypto King: Great quite an elaborate intro! So can you briefly describe #CRUST Network? What it is trying to do in the Web3.0 and Metaverse space? What is it trying to achieve?
I know you guys were one of the contenders for DOT Parachain😊
Mr. Lude: In a nutshell, Crust Network provides a decentralized storage network for the Web3 ecosystem and is build on Polkadot’s Substrate framework. It provides an unique incentive layer for the IPFS protocol and utilizes blockchain technology as well as other innovations to enhance security, privacy, performance and ownership of data.
Crust serves many different use cases like NFT storage, dApp or metaverse hosting or secure cloud storage and is already used by major blockchain projects like Uniswap, Aave or Polkadot. It is integrated with most public chains like ETH, BSC, SOL. Polygon, Elrond, etc and can be used as universal storage layer within many different ecosystems.
Crypto King: That’s awesome. I am sure Web3.0 will be huge in 2022. There are a lot of projects trying to catch the train. I am sure CRUST would be the leader in space.
Alrighty! Here comes my next question. Sort of clubbed 2 questions in one😉:-
Where is #CRUST headquartered? Do you have any office space or you guys majorly work from scattered locations?
Also, how big is your team?
Mr. Lude: Crust is operating internationally and is expanding its team consistently. Currently our core team consists of 35 people working from our office spaces in Singapore and Shanghai but also remotely from Germany, France, USA, UK etc. Additionally we have many advisors and other supports helping us along the way with their network and expertise.
Crypto King: Well, that sounds cool. Ok so I will keep the next question short and sweet.
Is CRUST planning to do some activities in the near future. Like what all plans do you have for short term?
Mr. Lude: In January we will launch our highly anticipated Pro version for our “Dropbox-like” and easy to use cloud storage dApp Crust Files (https://files.crustapps.net/)
You can use it like any other cloud storage but in a decentralized way; 100% secure and private. It is the first ever Web3 cloud storage app ever and we are really proud of this amazing achievement.
There is no need for any registration or email login cause you can login with web3 authentication via Metamask or any other wallet.
As special gift for our users we even gonna support this launch with a 50 Million Dollar rewards program everybody can join and earn a share of our huge rewards pool. 🤑.
You even can secure one of our highly desired whitelist spots. Please find more info here: https://twitter.com/The_JesusCrust/status/1473318564752994306
Crypto King: That’s really awesome to know 50 million dollar is a huge reward🤑🤑. That cloud storage sounds a little technical to me😆😆. I will definitely deep dive into the Dropbox part to know more.
Cool, one last question from my side then we move to Community Round 1 and subsequently to Round 2.
Where is CRUST’s native token #CRU listed and how can our community buy it?
Also, any new exchange listing in future, like everybody’s pet question When Binance😄?
Mr. Lude: Currently CRU is listed and tradable on Uniswap, Huobi, Coinone, Gate.io, Hotbit or BitMart. If you come from BSC you also can use our own swap https://swap.crustapps.net/#/swap. But we already are working on other exchange listings. In the future there will be even more centralized as well as decentralized exchanges to buy and trade CRU.
and when Binance? I hope soon 😅
Crypto King: Oh wow you are already on A grade exchanges. Perfect!
I am sure I will see CRU on Binance soon :)
@ludeclay shall we open for community round 1?
Mr. Lude: Yeah, go ahead.
Community Q & A Round 1
Q1. What usecase and utilities of your token? Can I do staking for passive income benefits and what else long term holders can benefitted?
Mr. Lude: The CRU token is a utility token and has several use cases within our ecosystem. For example CRU is used for staking to maintain the GPoS consensus of our network, it serves as collateral for nodes in order to provide resource services and it is being used as transaction fee when using Crust Network. Next to that CRU is being used by users of our storage market to purchase storage services and also serves for the voting process of our on-chain governance mechanism. In future we will create even more utility for the CRU token.
Q2. Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to your platform and keep them long term.
Mr. Lude: One of the strategies is to educate users on the benefits of web3 cloud storage and providing easy to use applications for the end-user to enjoy. As mentioned earlier we even incentive users for using our solution with a 50 Million Dollar rewards program.
Q3. Can we stake CRU to earn more rewards? What is the APY you guys are offering?
Mr. Lude: CRU is used for staking to maintain the GPoS consensus of Crust network, Token holders who are staking there CRU on one of the many nodes participating in our network receive a share of the node operators rewards. The APY for staking right now is around 80–100%.
Q4. Do you have any NFT plans and its integration ahead in the roadmap? Also do you have any passive income options and incentivization reward for a long term hoder?
Lude: We provide many different marketplace solutions for NFTs. From minting, over storing, up to trading and storage inspection to maintain full transparency. We are in talks with some of the leading NFT marketplaces and I am sure we will see many projects storing their NFT metadata via the decentralized network of Crust rather than on a centralized infrastructure like AWS, Google, etc.
Q5. What are the competitive advantages of your project? What advantages do you have over competitors? What would be your project secure most similar contender in the market today in terms of scalability, security, features, and adaptability?
Crust Network offers many advantages. For example because our proof of work/proof of storage mechanism uses local TEE and doesn’t require any energy intensive GPU or CPU workload it is way more efficient and doesn’t require any expensive upfront hardware investments to take part in our network. For the long run this means that Crust will be able to offer cheaper prices for storage solutions. Also we are 100% permissionless and offer a higher degree of decentralization because we don’t relay on concentrated supernodes and neither do we need centralized servers to bridge from our own protocol stack to the IPFS network like Filecoin does.
Crypto King: Perfect, Let’s do Round 2.
@community be ready.
Community Q & A Round 2
Q1. Where i can get all the latest news about ? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?
Mr. Lude: yes let me share our socials here:
Crust Network Telegram Group
Main Group: @CrustNetwork Price Discussion: @CRUPriceDiscussion Technical Support: @Crusttechsupport Chinese…
Join the Crust Network Discord Server!
Check out the Crust Network community on Discord - hang out with 2,342 other members and enjoy free voice and text…
Q2. Can you share some Details about Recent Major Achievements done by your project? Also, what are the Future Roadmap & Targets of your project?
Mr. Lude: We are very proud that just 2 months after launching our mainnet Crust Network already accumulated a storage capacity of over 2.200 PB provided by more than 7000 individual nodes. With doing so we already onboarded some of major players of the Web3 ecosystem like Uniswap, Polkadot or Sushi who are using our “serverless” infrastructure to host their websites and Dapps. Furthermore, we see more and more projects building on or using our technology. Our most recent accomplishment is a partnership with RMRK to provide a secure multi-replica NFT storage. And on top of that we integrated with our public chains like ETH, Polygon, Solana, Near or Elrond and will offer our services to even more ecosystems.
Do you have any big promotion going on or any event? What are your roadmap plans for upcoming events?
Mr. Lude: Yes, everybody can join our 50 MILLION $ Rewards Program for our Crust Files Pro version. You even can secure yourself a spot on our whitelist which already comes with 5CRU and you will be able to earn 1 CRU for each referral. You can join the competition for a whitelist spot here:
Q4. Why should we bind our dot for crust.network even there are more parachain participant? What will be reward for those who will bind their dot to Crust.network?
Crust to participate in 2nd Batch of Polkadot Auctions. Crowdloan is live!
Crust has launched the crowdloan for the second batch of parachain auctions on Polkadot, which will cover 6 auctions…
Q5. What’s the update on polkaparachain? Would you like to explain what is parachain and why is Crust.network is participating for it? What will be importance?
Mr. Lude: Polkadot is a parallel chain and cross-chain. In the future, multiple public chains can be linked to each other through slots in order to realize token universality. Through the cross-chain bridge in the ecology, Polkadot’s future application scenarios will be very huge. Another reason for choosing Polkadot is the Substrate framework. It is highly customizable and smooth upgrades are very friendly to an application chain like Crust. In the future Crust can benefit from many features of the DOT ecosystem.
Nevertheless, Crust runs on its own chain and is already integrated with many other public chains to provide a decentralized storage layer outside of the polkadot ecosystem.
Crypto King: Thank you so much Ludwig for coming to SYZYGY and sharing your thoughts about the project.
Mr. Lude: Thanks for hosting this exciting event.
Crypto King: It was lovely to have you here and interacting with the community. I am sure each one of us enjoyed the way you did in replying to tmsome really interesting questions.
Thank you again and have a merry xmas and a wonderful new year😊😊🥳🥳.