GAINS Associates
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GAINS Associates

Prophecy — Telegram QUIZ & AMA — December 27

On Sunday, December 27, we had the pleasure to welcome to our Telegram chat:

Hermes, CEO,
Chronos, Product Manager, and
Apollo, CMO of Prophecy.

We asked them questions about the development of Prophecy.

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

Summary

Prophecy is gamified DeFi with a focus on true community building & social interaction.

There are lots of passive income methods with Prophecy including yield farming and liquidity farming.

The Prophecy team has a 24/7 commitment to the community, always present to talk and engage.

Introduction

Q — Ayeley from GAINS: Can you please tell us about yourselves, what you did before crypto, how did you get into crypto, and did you have any other venture in crypto previous to being involved with Prophecy?

A — Hermes from Prophecy: I’m Hermes, CEO of prophecy. My background consists of project development team-building with a strong focus on the blockchain sector. I have been a core team member of multiple top 100 projects and have been working in the space on the project side since 2016.

I like to think of myself as a visionary that dreams big and isn’t afraid to take chances when I believe in something. I’m very excited to share our project with you all today!

A — Apollo from Prophecy: My name is Apollo. I’m the Chief Marketing Officer for Prophecy, the hottest token launch going into 2021!

I got involved in crypto several years ago because I wanted to help develop and shape projects to revolutionize the way crypto operates. I wanted to give more people chances of success than ever before. That’s where Prophecy came in — a project that is really ‘Built to Win’, ‘Community Driven and Future-Focused’. We want as many people as possible to succeed with Prophecy, so that’s what we’ve built (and are building!)

I love what I do, and you’ll usually see me busy typing away a million articles, maintaining community relations, managing our social media pages, and much more! I’m glued to my phone almost 24/7 with Prophecy!

A — Chronos from Prophecy: Hi everyone, I’m Chronos the product manager for Prophecy. I work with the developers to deliver the roadmap and work on the prototypes for the project. I help design things and make them better to use.

Product

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

A — Hermes from Prophecy: Prophecy is gamified DeFi with a focus on true community building & social interaction. We are a community first project. We want to push boundaries and innovate in our way. We call it GameFi!

Our flagship product is our prophet pools, a hybrid between gamified staking and yield pools. Completely decentralized, no middle man, where users join into pools and the rewards are given once the pool is full with the set amount of participants it executes.

Q — Ayeley from GAINS: Can you talk more about this image? Why are there losers and how does one end up as a loser?

A — Apollo from Prophecy: A majority of participants in Prophet ‘yield pools’ will earn more tokens than they input. We have a ‘Second Chance’ pool for those who don’t win the first time round to try again. The odds of losing twice in a row of our Prophet Pools (at 80% win pools) are just 4% (1/25). That’s tiny!

So while the majority always wins, we have plans in place to help those who ‘beat the odds’ to lose with Second Chance Pools. We also plan to eventually offer NFTs as prizes in addition to $PRY for winners and losers, and can make varying rarities of NFTs or limited NFTs (like win 10x in a row, lose 5x in a row (SUPER tiny odds), etc. So we can even make losing rewarding, it’s great!

A — Hermes from Prophecy: Example: 10 people enter, 8 win. 8 people split up 20% of the pool evenly. The two that did not make the cut enter a second larger second chance pool. This brings the odds of losing twice to around 4%.

Key elements:

  1. When a user enters a prophet pool, they are buying $PRY on the backend from Uniswap.
  2. Every pool entry takes a small fee similar to an online poker table ante. We then take those feeds and return 30% of them to the constant PRY stakes. So it pays to hold! You earn pry and ETH for staking.
  3. We use Chainlink VRF for provably fair randomness on all the pools.
  4. No centralized entity, true DeFi, code is absolute.

When we roll out phase 2 of our pools, we plan on enabling users to create custom prophet pools and share the link with their friends via widgets so there is a huge social aspect here. We will also have a pool lobby where people can search for almost filled pools and earn.

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

A — Hermes from Prophecy: Through our platform, app, and our suite of products, we understand user acquisition plays a crucial role in building this project. We plan on putting forth a heavy focus in the area. We also have a lengthy roadmap and essential products that will help build us as a staple in the DeFi sector.

Q — Ayeley from GAINS: Which DeFi project would you identify as your closest competitor and what would you say sets you apart from them?

A — Apollo from Prophecy: With what Prophecy is delivering, there isn’t a competitor. It’s mind-blowing. In terms of the likes of Prophet Pools, it just hasn’t been done in this way before, especially from the majority winner point of view.

Most similar-ish projects allow just one person to win or a minority. We flip that on its head and plan to build custom lobbies, custom games, and custom widgets to drive home a social and welcoming community.

Q — Twitter user @hakkikeless: How do you ensure that this Randomization engine does indeed generate the results randomly in an unbiased way?

A — Apollo from Prophecy: We’re utilizing Chainlink VRF for verifiably and provably random results! The higher relative fees from the smaller Prophet Pools will be more than covered by the lower relative fees of the bigger pools! It balances out incredible!

Q — Twitter user @MaxiVV05: I saw that Prophecy has a unique burn system that is named “Dynamic Burn”. How is this system different from the usual burns from other projects?

A — Hermes from Prophecy: Our burns will be triggered systematically when our staking pools commence. This is a great way to balance a highly incentivized ecosystem and keep upward token velocity going.

With every highly incentivized system, you need an equalizer to keep the natural order of things honest.

Q — Twitter user @Ontortk: When you say “Flash earning with Prophet Pools”, how long does it take? Is it more the possibility to win than lose?

A — Apollo from Prophecy: We’ll have a variety of Prophet Pools you can choose to enter. These pools clearly show the winning odds.

So for example, Pool One: 80% win odds. Pool Two: 70% win odds. Pool Three: 40% win odds. These odds correspond to your winning chance, but by the standard we want as many people to be succeeding as possible! 🤙🏽

They’re instant. As soon as a pool fills, (say 10/10 people) it executes. Winners are given their rewards instantly.

Q — Telegram user Crypto Follower 💰💰💰: How do you plan to increase the value of your native token $PRY?

A — Chronos from Prophecy: A couple of ways in fact:

  1. Burning the token supply will decrease supply over time.
  2. Every time someone antes up in a Prophet pool, they are buying $PRY tokens (or whatever tokens are in the cross-chain pool) in the backend.
  3. We’re going to implement the bare-tax to incentivize people to remain active with Prophecy tokens, using them for different things in the platform over time.

Q — Telegram user Aleksandr: You mentioned a lot about how betting companies manipulate users to make them lose their money. How do we know that Prophecy won’t do the same?

A — Hermes from Prophecy: With prophet pools, it’s ultimately user-driven. Meaning no centralized entity. The code is absolute and users are creating the value transfer. Also, the biggest thing to remember.

When a user enters a prophet pool they are buying PRY on the backend from Uniswap, so basically the act of just participating in prophet pools is constantly giving upward token velocity.

Q — Telegram user Emi 💌: You mentioned that you also plan on making the pools customizable with parameters users can decide. What are those parameters that can be customizable?

A — Apollo from Prophecy: Our v.2 Prophet Pools next year will offer full customization! You’ll be able to change the number of participants, the win parameters (40%, 50%, 90%, whatever you want!), custom and upgradable invite links and widgets, and so much more!

We’ll eventually have custom lobbies, custom games, and custom widgets to go along with a full gamified system!

Q — Telegram user htaraca: What are the differences between the Staking v1 and v2 releases?

A — Apollo from Prophecy: We want to give people a utility for $PRY immediately, hence launching a high % APR staking pool immediately!

V2 in 2021 will offer more permanent and steady rewards as well as more gamified staking.

Q — Telegram user Secret Santa 🎅🎅: Prophecy is planning to launch an app in 2021. Will this application include some crypto-related features such as yield farming or staking?

A — Chronos from Prophecy: We’re designing this all to be mobile-first. You’ll have the best experience on mobile, desktop, or tablet. When we launch the mobile app in 2021, it will have the same great features as our regular platform.

Q — Telegram user Alice: What is the minimum time needed to participate in a pool? Does the % of revenues change according to the time?

A — Chronos from Prophecy: The pool will remain open for however long it takes to get all the participants in there. For example, you enter a 10 person pool and there are 3 people in it already. You have to wait for the other 7 to join the pool to close. As soon as the pool closes, the winners get their rewards distributed to their wallets.

Q — Telegram user RIN: Can you please explain the details about the $PRY staking plan and the benefits of adding “staking”?

A — Chronos from Prophecy: We’re going to offer staking for our community in two forms:

1. Liquidity pools
2. Staking tokens for short periods

Each type of staking helps the Prophecy network. Each type of staking allows you to receive rewards.

Regular staking will not last forever, we’re going to offer it probably for the first year or so. In order not to FOMO out on the first pool, you’ll likely need to already be holding PRY to get into the first staking pool. No worries. If it fills quickly, we’re going to open more shortly after! (with fewer rewards of course).

Q — Telegram user Last Rose: If I know others in the pool in terms of winning games, is there any risk for misuse somehow?

A — Chronos from Prophecy: There is a risk that if you enter a pool you might not win tokens but those people will get a chance to recoup their winnings weekly with other features we’ll have in the platform.

I don’t see any risk of misuse with pools because there’s a risk you might lose whatever you enter. We’re going to make sure it’s limited to specific wallets so that people can’t try to abuse the system although we are going to let people provide double or triple their ante for more chances to win in the pools.

Team

Q — Ayeley from GAINS: How many gods are on the team? And, for how long have you been working on Prophecy?

A — Hermes from Prophecy: We have been working on Prophecy for around 4 months before we even publicly launched. Lots of planning and work involved.

A — Apollo from Prophecy: A team of 6 core full-time members, plus external work and pretty amazing partnerships planned for the near future!

Q — Ayeley from GAINS: Why the decision to go anonymous as Greek Gods?

A — Apollo from Prophecy: The team behind Prophecy: The pinnacle and epitome of ‘decentralization’ is anonymity for the user and anonymity for the team.

As a cryptocurrency project delivering a real and significant impact on the financial market, we wholeheartedly believe and follow the principle that this project should remain solely about the project and the incredible community behind that.

Our team comprises extremely senior and experienced professionals within the crypto-sphere, with combined decades of experience between us. We have worked with Top 100 projects and continue to push to innovate cryptocurrencies and DeFi.

We don’t want to be the focus ourselves, we don’t want to be idolized or looked up to or treated any differently, we just want to be in the background helping push this project and community as far forwards as humanly possible.

Remaining anonymous is the epitome of decentralization, as it’s the project and you — the community — that truly matters.

If you ever have any questions, any time of the day or night, message us on our Telegram and we’d be happy to help — we’re an open book, and we don’t let the fact we’re anonymous damage our community relations or how we deal with people!

While we know anonymity is a point some people may not be comfortable with, we invite people to hang out in our Telegram group even for a few hours/ days and see what we’re about! You’d be very surprised. We’re there 24/7 and happy to chat with anyone, answer any questions, or just hang out!

A — Hermes from Prophecy: We like to use the term “ethical anon”. We want to break down stereotypes and show people the true meaning of DeFi.

Q — Alex Raffin from GAINS: Can we verify your credentials if you’re anonymous?

A — Apollo from Prophecy: There’s a lot of projects/ project devs and other AMA hosts that will vouch for us! 🤙🏽

Q — Telegram user Cengizhan Tekin: ✅ Your profile photos look like NFTs. Are you interested in NFTs and planning to include them in the Prophet world?

A — Chronos from Prophecy: We are indeed planning on pursuing NFTs for rewarding participants in the community. A couple of ideas we’ve had before are NFTs for people who enter pools a lot over time, people who win in a lot of pools over time, etc. We could use the NFTs to offer bonuses on your winnings and other incentives. We definitely want to make this happen.

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 — Apollo from Prophecy: Exactly! There’s so much we can do with this! April Fools Prophet Pools, how sick does that sound?

Where we just play around with the numbers so none of them looks accurate. You have no clue how much you’ve won or lost, who won or lost, until it springs up right at the end as a big ‘April Fools’ — or they enter for 1 ETH and we show a message to the winners saying ‘YOU’VE WON BIG — 100 ETH WINNER!’, they click on it, and it just gives them an NFT of a clown and a message they lost.

Q — Telegram user Aleksandr: Can users make passive income through Prophecy’s platform?

A — Apollo from Prophecy: Lots of passive income methods with Prophecy.

  • Staking is available Day one - High % APR for that first staking pool
  • We’ll offer liquidity farming soon
  • Yield farming coming soon!
  • A BUNCH more on our roadmap!

Security

Q — Telegram user VyachCrypto: What is your status regarding the audit of your Smart Contracts and security mechanisms to protect and assure the participants of the ecosystem?

A — Hermes from Prophecy: Yes. We have audits underway for everything. We will also be providing beta access to our community to get crucial feedback from supporters. This is essential. We’re excited about it.

Q — Telegram user Corrie_Dorf: “RUG PULLED.” What does that word mean for you? In what ways will you convince us that it won’t happen with the Prophecy project?

A — Apollo from Prophecy: I’ll give you a no-bullshit answer to this: FUCK RUG PULLS. FUCK THEM ALL.

We’re adopting the term ‘ethical anonymous’ because we want to beat the trend of scummy, scammy rug pullers. We’re committed to it. We’ve funded everything out of our own pockets. So far, we spend 24/7 in our Telegram group (our team covers the planet) and we will spend 24/7 talking, chatting, answering questions and delivering on our promises!

Hold us to account, talk to us, hang with us, whatever you want, but in short: FUCK RUG PULLS!

Business Development

Q — Ayeley from GAINS: Is this product already out? What stage is the project/product?

A — Chronos from Prophecy: We are working to offer limited staking immediately at launch as part of the platform, and then launch prophet pools in Q1 2021.

Late in the year, we’re going to work towards allowing people to make their pools for their friends to participate in and to offer cross-chain pools so people can make a Bitcoin prophet pool, Ethereum prophet pool, Polkadot prophet pool, etc.

A — Apollo from Prophecy: Prophet Pools will be part of our upcoming product rollout!

On day one of Uniswap, we’re offering staking immediately. Prophet Pools will launch a few weeks after that, in Q1 as CHRONOS said, alongside some other products like liquidity farming!

We have a whole suite of services/ products planned to drop every few weeks for about 2–3 months of nonstop content!

Q — Telegram user Raf: What’s your marketing plan?

A — Hermes from Prophecy: We are making marketing a huge focus. We also have some great partnerships in the works to bolster our marketing efforts.

Q — Telegram user YUDA Ez: Southeast Asia is a very vibrant market and many projects developed here. Do you have any plan to develop there?

A — Apollo from Prophecy: We have big plans for the Asian market as a whole!

We’ve secured a strategic partnership with a very large Chinese player in crypto and will have translations, support, and services available for Asia. We love all our followers and can’t wait to make Prophecy truly global!

Thanks for coming in Apollo, Hermes and Chronos. It was fun learning more about Prophecy. I’m certainly looking forward to the product launch. I’ll also be looking to try out the April Fools Prophet Pools, that should be fun! Anything else you’d like to say? Where can we follow you? — Ayeley from GAINS

We’re happy to be here. Kindly join our social media pages for more information and to stay updated: Website, Telegram, Twitter, Articles, and Github — Hermes from Prophecy

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.

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