GAINS Associates
Published in

GAINS Associates

Glitch — Telegram QUIZ & AMA — January 05

On Tuesday, January 05, we had the pleasure to welcome to our Telegram chat:

Julian Muchatuta, CPO/CTO and
Sean Ryan from Glitch

We asked them questions about the development of Glitch.

Some sentences have been slightly edited for readability but the meaning has been conserved.

Summary

Glitch Protocol is a blockchain-agnostic protocol designed to facilitate trustless money markets.

Transactions on Glitch will be super fast and done at very low network fees.

Glitch has partnered with TrustSwap for its public token sale which will be on the 11th of January.

Introduction

Q — Ayeley from GAINS: What did you do before crypto and how did you get into crypto?

A — Sean Ryan from Glitch: I’m Sean a DeFi Enthusiast and Cryptocurrency advocate since 2015. I’ve successfully lead the creation, development, and acquisition of multiple SAS based solutions and products. Previously, I was co-founder and Head of Sales for Staffbooks, founder of Digital 4 group, and worked in Business Development for DTS.

A — Julian Muchatuta from Glitch: I worked for HelloGold in Malaysia doing special projects and as COO across the group

Q — Ayeley from GAINS: How did you find the switch from HelloGold to crypto and Glitch?

A — Julian Muchatuta from Glitch: I was introduced to blockchain/crypto through HelloGold as they have their tokens

Q — Ayeley from GAINS: Did you have any involvement in crypto previous to being involved with Glitch?

A — Sean Ryan from Glitch: Certainly. I have been investing from a seed level in projects since 2016 and have taken an advisory role with many projects.

Product

Q — Ayeley from GAINS: Can you tell us your role at Glitch and what the project is about in a few simple sentences?

A — Julian Muchatuta from Glitch: I am the CPO/CTO. I have been helping the tech team deliver multiple products and setting up best practices for the team.

GLITCH is a blockchain built to be fast and with low fees. The project goes further as we also building dApps and associated DeFi focused solutions.

We have a development team of 8 and multiple advisors.

Q — Ayeley from GAINS: What will be the token use case? How did you make sure it captures the value of the ecosystem you’re building?

A — Julian Muchatuta from Glitch: Network fees can only be paid in GLCH and there is a finite supply of 88,888,888. It is intended to be a unified token.

Q — Ayeley from GAINS: That supply certainly caught my attention. Is there any reason behind these eight 8s?

A — Julian Muchatuta from Glitch: It’s a lucky number we like and the volume was deemed adequate for the tokenomics.

Q — Twitter user @molestika: Your goal of creating a dedicated, easy to use, scalable system capable of bringing together an entire ecosystem of dApps is very ambitious, but what strategy will you employ to achieve scalability and thus enable access to your platform by hundreds of users?

A — Julian Muchatuta from Glitch: The idea is that we focus on the developer ease of access and the tools so you can build on the network but primarily it’s the high transaction speeds and the low fees whilst still being able to do everything you want on a blockchain in DeFi.

Q — Twitter user @alej_pacedo: Ethereum made decentralized finance possible, but congestion on its network now threatens its sustainability. How does GLITCH DEX provide a real, community-centric solution to this problem? What revolutionary protocols will GEX have?

A — Julian Muchatuta from Glitch: Transactions will be super fast and done at very low network fees. We are focused on delivering good service at a great value. It’s a plain vanilla approach and we choose to be novel and revolutionary only if it solves DeFi problems which right now are speed and cost.

Q — Twitter user@KathDM3: Glitch’s team decided to carry out the public token offering on TrustSwap. What are the steps to participate? Do we need to register or do KYC?”

A — Julian Muchatuta from Glitch: Yes. On the 11th of January at 6 AM EST. To participate with Trustswap KYC is required.

Q — Telegram user Frühling kommt 🌷: How will GEX work in Glitch Protocol? Will it be similar to Uniswap, where trading is based on LP? Or will it be an exclusively P2P market?

A — Julian Muchatuta from Glitch: The GEX has some similarities to Uniswap but with some additional functions which are now possible given the faster transaction speeds.

Q — Telegram user Roger: It is difficult to find a tool that offers a quality loan service. What is the percentage of interest for each type of loan and how does the type of user requesting the loan influence?

A — Sean Ryan from Glitch: We are yet to begin planning for a loan based tool.

Q — Telegram user jefri: Are you planning to burn or buy back any tokens from the market in the future? Do you have such programs?

A — Julian Muchatuta from Glitch: We do not intend to burn or mint the GLCH tokens given our model.

Q — Telegram user 🐍 jidan🐍: GLITCH is inspired by EOS, why did Glitch choose EOS over other blockchain platforms? What is the biggest difference between Glitch and EOS?

A — Julian Muchatuta from Glitch: There are some concepts borrowed but honestly, you could just say the DPOS as we have a unique revenue share model that enables the lower fees because we reward the network through the ecosystem.

Q — Telegram user prayoga taufik: Can you list 1–3 killer features of Your Project that makes it ahead of its competitors?

A — Julian Muchatuta from Glitch: Fast, low fees, revenue sharing.

Q — Telegram user Super-Girl Says 💬: How will GLITCH make it possible to have near-zero transaction rates?

A — Julian Muchatuta from Glitch: This is as a result of the revenue share model that rewards the network differently as we are building a suite of applications and structuring the ecosystem to incentivize those who contribute to it.

Q — Telegram user Sentung: Does the Glitch have a DeFi feature that will be the boom?

A — Sean Ryan from Glitch: We believe our profit-sharing model on the network will be a feature that will tick all the boxes.

Q — Telegram user Abdullah: What did Glitch do to achieve oversubscription of private rounds? Are you expecting an oversubscription of public sale?

A — Sean Ryan from Glitch: We have a community of loyal backers who believe in the project and have been keen to get involved in a project like ours. We believe our Public Sale will be a great success.

Q — Telegram user Muhammet AKDAŞ: GLITCH is similar to Avalanche in that dApps can be launched on their custom side-chains but Avalanche is built around a directed acyclic graph (DAG) and Glitch is not. Do you consider that to be an advantage for Glitch?

A — Julian Muchatuta from Glitch: No custom side chain.

Team

Q — Ayeley from GAINS: How many people are on the team? For how long have you been working on Glitch?

A — Sean Ryan from Glitch: Julian has been a recent addition to the team but seems like part of the furniture, myself, since 2019.

Q — Telegram user ❣️❣️ An Angel ❣️❣️: Some of your team public and some of them anonymous. Can you please talk about the team?

A — Sean Ryan from Glitch: We initially wanted to keep the team anonymous but the public repeatedly asked for names and we decided to announce the CEO and CPO. We have a team of 8 developers and multiple advisors.

Finance

Q — Ayeley from GAINS: Did you raise funds so far? If so, how did you handle them? Are you planning to do any future raises?

A — Sean Ryan from Glitch: We have our private rounds oversubscribed and looking forward to our public sale on TrustSwap on the 11th of January. Not planning on any future raises.

Partners

Q — Telegram user Cassanova: Many investors hit and run in the sell and sell session after listing on the first exchange, How did your project prevent early investors from selling their tokens and what benefits would your project give them?

A — Julian Muchatuta from Glitch: Trustswap is our vesting partner to address this.

Q — Telegram user ucok keren: All project’s coins/token have their main Utilities & real-life use! Can you tell us what the main role of your coin/token is in your ecosystem?

A — Julian Muchatuta from Glitch: We are DeFi and real-world applications are inherent in our partnership with API3. Finance is our bread and butter and we want to make it as decentralized as possible with great fees, security, and speed.

Business Development

Q — Telegram user Qiara Wanda: What will you focus on to work in 2021 for the Glitch platform?

A — Julian Muchatuta from Glitch: We have an awesome roadmap and we will be looking at dev community growth, great UIUX and scaling our ability to deliver as fast as our blockchain completes transactions.

A — Sean Ryan from Glitch: Our key focus will be to finish testing and fully deploying the blockchain, followed by our ambitious goal to release a fully functional d’APP every quarter.

Q — Telegram user Maximar: What are your strategies to educate people about Glitch?

A — Sean Ryan from Glitch: We were cautious not to put out much information early as we didn’t want an extended marketing campaign but over the coming days and weeks we feel like the community will be provided with the information that they need. We will be extremely active on Twitter and Medium.

Q — Telegram user Turgut Baltazar: What are your most important next priorities? Does the Glitch team have enough fundamental ( funds, community, etc.) to achieve those milestones?

A — Sean Ryan from Glitch: Our highest priority is the Bridge and delivery on the GEX. And yes, we have a great team behind us and have successfully closed out our seed and private funding rounds.

Thanks for coming in Julian and Sean. It was fun learning more about Glitch. Anything else you’d like to say? Where can we join you on this journey? — Ayeley from GAINS

We hope to have you all on this journey with us. Thank you for your time and I hope this has helped. Please feel free to joins us on Twitter and Telegram — Sean Ryan from Glitch

Join us now! Enjoy quality articles, daily curated news, insightful infographics, and enter a vibrant, fun, and knowledgeable community!

If you want to email us: contact@gains-associates.com.

--

--

--

GAINS Associates provides you with the latest news and research in blockchain and crypto. It’s a community for everyone to learn and grow together.

Recommended from Medium

GoChain Launches Mainnet, Achieving Milestone in Blockchain Scalability

Idena changes the symbol of its coin to iDNA

Telegram AMA Recap ICOSpeaks & NewsCrypto.io

TrustSwap Telegram Q&A w/ Jeff Kirdeikis

BitMart Listing E$P

Listing Alert: INU

Stable.Report, Apr.15 — Mar.21

REVUTO 🌐 NEW GEM of the CARDANO Ecosystem with Great POTENTIAL!

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
GAINS Associates

GAINS Associates

World's First Decentralized VC - Ultra High Return Deals for EVERYONE - #Crypto news, insights, research. JOIN US NOW! 👉 http://t.me/GainsChat! 🚀🔥

More from Medium

CheersLand — Telegram AMA — November 27

Atlas DEX — Telegram AMA — January 21

Burnt Finance — Telegram AMA — January 25

CyberTrade — Telegram AMA — December 10