Recap | AMA — What is EpiK Protocol’s strategy to live in the crypto crisis?
Crystal: Good day! All EPKers! Welcome to join today’s AMA. I am Crystal and will host today’s AMA. Our today’s guest is James Lim, CEO of EpiK Protocol.
Hi, James, how is everything going? Have you fully recovered from the Covid-19?
James: Hello, Crystal, thanks for your concern, I am okay now and I am happy to join today’s AMA to share more info with our EPKers.
Crystal: Glad to hear that. Let me introduce today’s AMA segment first. There are two parts, in the first part, we collect 13 questions from our community members and ambassadors and need James’s answers. In the second part, James can select 3 questions from the #askmeanything.
It’s clear, right?
James: Yes, very clear.
Crystal: Okay, let’s start it now, can we?
James: Sure, can’t wait.
Questions from community members
Crystal: The first question is tough. It’s about the current LUNA crisis. What is the strategy of EpiK Protocol to live in the Luna Crisis? What is your plan?
James: Affected by the U.S. dollar interest rate hike, the aftermath of BTC’s sharp downturn triggered the de-anchoring of UST, among which there are many rumours that traditional capital maliciously shorted the crypto industry. This incident has had a great impact on the entire crypto industry, and the trading volume of the entire network continues to decline. It is expected that the market will experience 2–3 months of consolidation. During the consolidation period, EpiK Protocol will continue to focus on the collection of AI data, especially the AI data related to the crypto industry, including but not limited to collecting data of Twitter accounts’ type, data of crypto community sentiments’ type and crypto news summary data, etc. Meanwhile, we will develop a series of AI bots based on these data to provide users with high-quality industry information and help users make better investment strategies.
In addition, EpiK Protocol will also package historical data on the chain, such as DEX K-line data, DEX lending data, DEX clearing data, etc., to provide backtest data for secondary strategy development in the crypto market.
I have to say abundant high-quality data is the foundation of EpiK’s value, and no matter how the market changes, the continuous injection of high-quality data into the EpiK network will not stop.
Crystal: Now we come to the second question, we can find the EPK price keep dumping since the collapse of Human: Memento, will there be a consumption scenario such as GameFi to stimulate burn EPK and pump the price of EPK?
James: The foundation will spare no effort to expand the long-term consumption scenarios of EPK tokens. We admit that GameFi is a choice and there are also many proposals related to GameFi submitted to the foundation.
However, after the collapse of Human Memento, the foundation will be more cautious about consumption scenarios ofGameFi, and the proposal review will be stricter to avoid hurting our community members.
Crystal: Yes, we need to be cautious when considering expanding the EPK consumption scenario. Another question is coming, our community members are concerned about the AI data application: when will the AI data curated by domain experts and bounty hunters be applied?
James: The AI data related to the crypto industry has been put into use to develop our AI bots in our discord server.
However, the scale of these data is not very large. We are still collecting these data on Knowledge Mainland.
Every bounty hunter can help to collect these data by answering questions on Knwoeldeg Mainland.
Although the Token income has declined, as you answer questions, you can learn more about the crypto world. The vision of the crypto industry, investment opinions and influencers in this industry, will benefit you and continuously optimize your investment strategy.
Crystal: It’s really interesting that everyone can participate in training AI bots. In the last AMA, you talked a lot about AI bots, but some are still confused about AI bots: What is the function of the released and to be released AI bots? Will it be free to be utilized by users? How will you promote AI bots and will you repurchase some EPK with the revenue?
James: The AI Bots published in our Discord server include Crypto News Bot that enables users quickly read industry headlines, Airdrop Bot that help users discover airdrops, NFT monitor Bot that helps users monitor community sentiment on popular projects, and Influencers Bot that helps users know what the KOL concerns.
Everyone can utilize the bots according to their need to find their own wealth password. Before the end of 3AM OWL mint, AI Bots will be available to users for free on our Discord server. After the release of 3AM OWL, the Bot channel will only be open to 3AM OWL holders. And some high-quality bots will be charged.
In addition to maintaining the daily development and operation of the Bot, the Bot income will be repurchased EPK and the EPK will be burned.
Crystal: Another good way to burn EPK, that’s good. And what is the correlation between AI bots and the developed products, when will the AI bot store be launched?
James: The AI data required to develop and train AI Bot comes from the chain and comes from the question bank released by domain experts in Knowledge Mainland.
After the 3AM OWL mint ends, the AI Bot Store will be launched in the EPK wallet. At that time, 3AM OWL holders can access AI Bots with the 3AM OWL they hold in both EPK wallets and Discord.
Crystal: Some users might like to know the status of AI data applications. Is there an accessed analysis of EpiK Protocol’s AI data? Can we check the status of qualified users?
James: At present, the main visitors of AI data are knowledge nodes that want to improve computing power. AI Bot developers have relatively few visits. They all read data by staking EPK.
Everyone can check data access from the retrieve pledge displayed in our browser. Regarding this part, some community members proposed to burn EPK instead of pledge EPK to read data. If you are interested in this, you can share your ideas on the #epk-general channel.
Crystal: We all know that Knowledge mainland is an important part of the entire EpiK ecosystem, what is the plan for the Knowledge Mainland? What is the final upgraded version of knowledge mainland?
James: For upgrades, Knowledge Mainland will be upgraded from time to time. After the release of 3AM OWL, there will be more NFT-linked gameplay.
Crystal: About Grants, community members would like to know is there a new Grants program to support the development of EpiK Protocol’s ecosystem?
James: The grants program always exists, you can click here to submit your application.
Crystal: As for the DAO, community members are worried that will DAOreally achieve community autonomy. When will the EPK DAO be launched?
James: There are various DAO proposals, and defining the exact types of proposals may lead to inflexible governance. The current EPK DAO solution will be integrated into the EPK VM solution, supporting the development of smart contracts on the EpiK mainnet by integrating a virtual machine, and flexibly customising the DAO governance model with the help of contracts. This part of the development work needs to be more cautious, and the development cycle will be relatively long.
Crystal: It is more than a month since the last update of EPK code, has the official team no longer maintained it?
James: The EpiK mainnet is now in a stable state with no further iterations required for the current version. The mainnet development currently focuses on the EPK VM solution, which will not be released to the public until a specific runnable version is launched.
Crystal: We know that the whole industry suffered the LUNA crisis, is there any change on our roadmap. Do you develop the project according to the roadmap? What will the EpiK Protocol team focus on in the second half of 2022?
James: The toolchains for designing, collecting, reviewing, storing and accessing AI data have all been developed and are running stably online. The EpiK Foundation’s next work will focus on the expansion of AI Bots and the development of EPK VM, and the Grants working group will focus on expanding EPK consumption scenarios.
Crystal: Our ambassador asked about the development status of personal storage, and what is its current status.
James: The demand for personal storage still needs to be verified by the market. EpiK foundation doesn’t focus here, but we welcome the community members to submit their storage proposal through the Grants Program, and the Grants team will fully support it.
Crystal: The last question is about 3AM Owl application. What is the actual application of 3AM Owl?
James: After the final mint of 3AMOWL NFT, AI Bots will only be open to 3AM OWL holders. There will be a batch of sales at the end of the month for 3AM Owl. You can participate in the event to get whitelist spots, with a minimum of 90% discount coupons.
- Can any business we do be linked to the EPK main network currency?
James: For this question, my answer is the protocol is open on the chain, anyone can access mainnet EPK as a payment.
- What the project party plans to do to control inflation？
James: The market is out of the control of the official team, what we can do it to try our best to develop a better product and promote it. We can spare no efforts to empower it with more actual value.
- I wanna know 3AM Owl NFT holders how they gonna get facilitation from EPK AI bots?
James: They can utilize our AI bots for free forever. And there will be some advanced function which is open for 3AM Owl holders. With it, you can make a better investment decision.