May 21, 2021
LIQUIFI-MARS ECONOMY AMA AT SATOSHI CLUB
It was just less than a week after the successful launch of the first ever IDO deployed on the Liquifi Dapp. Mars Economy having launched on an applaudable note into the mainstream, they paired up with Liquifi Team to host an AMA with Satoshi Club one of the most renowned communities for AMA’s and projects promotional events.
The AMA session was highly informative, educating and entertaining with both teams and the community flowing in a spectrum of positive vibes, below is the AMA summary.
Mary | Satoshi Club : Hello again Satoshi Club! We are happy to announce our AMA session with Mars Economy! Welcome to Satoshi Club:grinning:
D. | Satoshi Club: today our guests — @teflon_musk @n_ollo @is_liquifi @jet_jelly @Bahama0 !
nice to have you here guys!
welcome
Nic: It’s a pleasure to be here, thanks for having us!
Mary | Satoshi Club: Welcome here :+1:
How’s going?:grinning:
Jet Jelly: Hi all, awesome to be here!! :rocket::rocket:
Mary | Satoshi Club: Hello! Happy to see you here :+1:
Jet Jelly: So looking forward to today’s AMA — a lot to share with you, guys!
Mary | Satoshi Club: Let’s start our AMA than:rocket::rocket::rocket:
Teflon Musk: Excited to be here! Looking forward to the AMA!
Mary | Satoshi Club: Welcome to Satoshi Club :clap:
Jet Jelly: Let’s do this
Mary | Satoshi Club: Could you please introduce yourself and tell us more about Mars Economy?
Teflon Musk: It started when a bunch of people who all are equally as excited about space exploration and DeFi got together on the internet and decided to answer the “what if?” question.
Mars Economy is a community focused on the expansion of humanity to Mars and the creation of a DeFi ecosystem on the Red Planet, using cryptocurrency in a blockchain-based predictions market as a vehicle to drive the democratic approach to colonization.
We are a community-led project built around an open-source protocol that supports and spreads knowledge around current projects and initiatives driving Mars colonization.
I’m a passionate fintech product marketer and memer passionate about space, rocketry, and growing the meme economy. The future is now! :rocket:
Mary | Satoshi Club: You look far into the future!
D. | Satoshi Club: so your project is a meme project? :smile:
Mary | Satoshi Club: @is_liquifi welcome here :grinning:
Teflon Musk: We certainly don’t consider ourselves a meme project by any means but we are believers in the meme economy and plan to utilize them as tools to grow our community and raise awareness of the project with the public and space community.
I.S. :Hi all! :wave:
Jet Jelly: Hey, I’m a crypto & digital currency expert, researcher and a (co)founder of a number of initiatives in the space. Big proponent of post-capitalism, new-gen FI and space exploration :globe_with_meridians::rocket:
D. | Satoshi Club: makes sense :+1:
hello! welcome!
Mary | Satoshi Club: So, when Mars Economy was born?
I.S.: I am tech lead at Liquifi. I’m fond of blockchain and DeFi technologies.
Nic : We launched on Liquifi exchange at the beginning of this week, but have been in development since January. We are are excited about the next ten years!
Mary | Satoshi Club: Nice start:rocket:
Thank you for your intro, guys!
Nic: Absolutely! Thanks for hosting!
Mary | Satoshi Club: Are you ready for the questions from our community?:wink:
Teflon Musk: Yes! Ask away!
D. | Satoshi Club: btw so to clarify Liquifi & Mars Economy are one project or two different?
Mary | Satoshi Club: @Cool_as_Ice shoot :rocket::rocket::rocket:
Jet Jelly: They are two different projects. Mars Economy is a prediction market based protocol and Liquifi is a DEX that hosted Mars Economy’s IDO
D. | Satoshi Club: nice! got it, now we know :wink::+1:
Q1 from Telegram user @Josegamboac
The Mars economy project consists of two phases: The prediction market phase will be the initial phase. The Martian financial ecosystem phase will begin with the first achievements in the colonization of Mars. Can you explain each of these phases of the project to us?
Nic: The Prediction market phase will be the initial phase, during which the project will implement prediction market contracts allowing people to stake on the outcomes related to the future colonization of Mars. During this phase also the initial distribution and market creation for Decentralized Mars Tokens will be accomplished. The tokens in this phase will serve as a basis for the sustainable oracle system and as a voting token for the decentralized governance.
The Martian financial ecosystem phase will start with the first achievements in the colonization of Mars. In this phase, Decentralized Mars Tokens will become an exchange medium for financial transactions both on Mars and between Mars and Earth.
Mary | Satoshi Club: Can you explain how this first stage will work?
I mean what users need to do to get as much benefits as possible
Nic: Well most of us are not astronauts, so we wanted to create something accessible to the public for starters…
We want to raise awareness and educate people on why it makes sense to colonize Mars and what it takes to do it. We want to draw your attention to the most notable and successful projects that contribute to this goal. We want to crowdsource people’s perspectives on who are the most important contributors, people and organizations, and support them. Given where we are today, we thought creating a prediction market would be a way to source and verify the information related to Mars colonization as well as engage the public and crypto community and get everyone as excited about space exploration as we are.
Mary | Satoshi Club: Nice goals! Sure, people will appreciate what you’re doing!
Thank you for your answers! Ready to go to the next question?:wink:
Nic: Absolutely!
Teflon Musk: I personally really liked this quote from Baliji Srinivasan former CTO of Coinbase for prediction markets:
“Blockchain-based prediction markets may be the one force strong enough to counterbalance the spread of incorrect information on social media. They give people a financial incentive to seek the truth and then protect them with the twin shields of pseudonymity and decentralization.”
It’s a unique way to engage a community and align individuals without borders.
Mary | Satoshi Club: Yes, it has sense :grinning:
D. | Satoshi Club:
Q2 from Telegram user @Manugotsuka
The most important thing about a project is its native token, so can you please give us details about the relationship between the $LQF and $DMT? The DMT will be listed on the Liquifi Exchange and the LQF will be going to Mars?
Jet Jelly:
The purpose of the native token of Mars Economy ($DMT) is (1) governance (2) being able to participate in the Mars Economy Oracle network and earn this way and (3) once we are on Mars, become a part of the newly established financial ecosystem $DMT will “dock” into.
I.S. : $LQF is the native token for Liquifi and of course it benefits from every project that is listed on our DEX. We also plan to become the best place for other starting projects, not only Mars Economy, to make IDOs and create markets for their tokens with low costs. So, yes, we are going to Mars together! :rocket:
D. | Satoshi Club: what will be the governance function? for what decisions people able to vote for?
cool:sunglasses:
Mary | Satoshi Club: As i understand users will use you platform to participate in Mars Economy Oracle network, right?
I.S. : BTW people can farm $LQF by adding liquidity to Liquifi $DMT-BNB pool.
Jet Jelly: Yes, correct
D. | Satoshi Club: oh so you have liquidity mining? very nice
Mary | Satoshi Club: Is your platform safe?:wink: Any audits?
Jet Jelly: There are 2 types of decisions: native & prepefined on-chain and off-chain with an on-chain voting process.
The first part consists of:
• Prediction outcome decisions during the dispute and voting phases.
• Create a new prediction market.
• Shift an ending time for predictions back in time for a given prediction
market.
• Change oracles list.
• Transfer tokens from the core team pool, the strategic investors pool,
the ecosystem pool or the fundraising pool to a specific wallet.
• Change the oracle fee level.
• Change the protocol fee level.
• Change the receiver of the protocol fee.
• Change the period for oracles to make decisions.
• Change the length of the dispute phase.
• Change the length of the voting phase.
• Change the quorum threshold.
• Change the amount of tokens staked by an oracle.
• Change the amount of tokens staked to start a dispute.
• Change the amount of tokens staked to submit a proposal.
I.S. : Sure! :sunglasses:
Jet Jelly: And the second type are any decisions the community of #DMT will be coming up with on an ad-hoc basis. They will be voting with their $DMT
D. | Satoshi Club: thank you, detailed answer :clap:
Jet Jelly: The team of Liquifi did an audit prior to the IDO. And Liquifi itself/overall was audited by Pessimistic: https://github.com/pessimistic-io/audits/blob/main/LiquiFi Security Audit by Pessimistic.pdf
Public reports of performed audits. Contribute to pessimistic-io/audits development by creating an account on GitHub.
Mary | Satoshi Club: Awesome! Thank you for sharing :rocket:
Thank you, guys for your answers! Ready to fly to the Mars? Oh, sorry, to the next question?:joy:
Nic: Haha sure!
Nic: to both :smirk:
D. | Satoshi Club: Q3 from Telegram user @antoni_azx
One of the advantages of working with Liquifi is their optimal solutions for price slippage and front-running problems, which logical can make their yield farming attractive, can you explain what functionalities can have the Mars Economy token $ DMT and how can the users take advantage of it on the Liquifi ecosystem?
Jet Jelly: First of all, people can buy $DMT with a very low slippage despite the very recent IDO and farm $LQF by staking $DMT!
Mary | Satoshi Club: Which is the price of $DMT now?
Jet Jelly: Around 55–65c per $DMT (the IDO price was 50c), inspite the recent dip in crypto prices :sunglasses:
D. | Satoshi Club: what was behind the decision to launch your project on bsc? and you are currently support only one chain?
Mary | Satoshi Club: Yes, that was unexpected dip🤦
Jet Jelly: BSC is awesome in terms of fast confirmations/processing and low transaction fees. It does deliver on the promise of democratization of access to DeFi, which we support very much. Cannot do much on Ethereum currently, but we do support it and wil deploy as soon as PoS becomes available there.
Hence usability is very high on BSC and our users are very happy.
We are currently planning to work on Cardano as soon as Plutus/Marlowe becomes available in testnets. And as I said ready to deploy on Ethereum.
D. | Satoshi Club: gotcha! but people can use Ethereum as a storage, its network is highly secure :wink:
but you are right, BSC now is way more comfy to use :grin:
Jet Jelly: Storage — maybe, but the vison of Vitalik was/is far beyond
Mary | Satoshi Club: But if you look to the distant future (as you do with Mars), would you agree that in terms of decentralization, ETH is much more promising than BSC?
Jet Jelly: Ethereum is surely winning atm with a higher degree of decentralization and lower concentration.
However, it’s become quite a large community with a lot of inertia, hence there’s quite some lobbying against PoS.
Therefore, we will see whether BSC will decentralize its PoS faster or Ethereum will turn its governance “barge” around on time and implement a meaningful PoS-based algo
Mary | Satoshi Club: Gotcha, it’s logical :grinning:
Ready to fly to the next question?:wink:
Jet Jelly: In case Ethereum will continue on its track to becoming a “store of value” (only), BSC could surely flip it in terms of DeFi use-cases. In fact, it’s already done so tx-wise.
Sure 🙂
D. | Satoshi Club: Q4 from Telegram user @kimterbear
You explained in your medium why you chose Liquifi for $DMT and not pancakeswap. Now by reading your website, you mentioned that $DMT would be available on PancakeSwap in the future. Why bother listing the token on PancakeSwap if the reason why you chose Liquifi is that the amount of liquidity required for PancakeSwap is dramatically high?
Teflon Musk: While we do love Liquifi, we want to make our project accessible to as many people as possible and believe listing our token on additional exchanges (like PancakeSwap and others) will enable this.
Mary | Satoshi Club: Yes, that’s right! Will $DMT available for farming on PancakeSwap?
Jet Jelly: We will build $DMT farming on Liquifi (100%) and we will work towards farming on CAKE once we gain a bit more traction/holders. CAKE community would have to vote/agree first, hence traction is important.
Mary | Satoshi Club: How many holders do you currently have?
Teflon Musk: We have close to 600 holders already! Super exciting and passionate community here. All eyes on Mars.
D. | Satoshi Club: that’s a good number for young project :+1:
Mary | Satoshi Club: Super:+1:
Thank you for your answers! Ready to proceed?:wink:
Jet Jelly: Yes
D. | Satoshi Club: Q5 from Telegram user @cryptofollower
I see on your twitter page you retweeted Elon Mask’s tweet about Make humanity a multiplanet species. For a quite some time Elon Musk had the great popularity on the Crypto World. But recent tweets about Bitcoin made people angry and people thinks he is responsible for the recent crush. So do you think can Elon Musk still be used on your project and worth mention about? Don’t you think it can damage the project? After all, Mars project is not all about Elon. NASA and Amazon’s Blue Origin also has plans about Mars.
Jet Jelly: We should make it very clear that Elon’s post/action was not targeted against Crypto overall. Elon is still one of the key proponents of decentralization, new-gen finance and post-capitalism inspired property/ownership concepts.
Elon discouraged POW, which we do not support as well. We are here for a long run, and need to protect our planet & resources. Otherwise there will be no Mars journey whatsoever 🙂
D. | Satoshi Club: and by the way Musk helped a lot of people made money on current bull run, some people forgetting about it and remeber only negative, but fact that one person (famous person) manipulate the whole market by posting tweets, it shows how immature crypto market currently
Jet Jelly: Hence we are confident that Elon will support crypto as one of the main divers of the above.
D. | Satoshi Club: @madamlobster do you have any additional questions?
Mary | Satoshi Club: No:grinning:
If everyone agrees we can move to the next question :relaxed:
D. | Satoshi Club: the last one from part 1
Jet Jelly: Yes please, bring it on 🙂
D. | Satoshi Club: Q6 from Telegram user @Highpee
The Mars has be regarded as a potential second home for humans, and in a bid to leverage on this theory, you created the Mars Economy as a blockchain project that will give users the privilege to anonymously predict outcomes on Mars mission. How do you intend to create a balance ecosystem of the new colony on Mars? How will you use blockchain to be a Mars prediction vehicle as well as drive public understanding of the Mars missions and what roles are users expected to fill in democratic approach to Mars colonization. Lastly, in your own opinion, how feasible is the Mars mission and how soon can it be actualized (When Mars)?
Jet Jelly: >How feasible is the Mars mission and how soon can it be actualized (When Mars)?
It is absolutely feasible, no question there.
When? This is exactly what our Prediction Markets phase/features are for, see the exact dates here: https://marseconomy.org/#/predictionmarkets
Next week you will be able to start using these prediction markets. :rocket::sunglasses:
D. | Satoshi Club: do you have special place for NFTs in the bright future of project :blush: ?
Mary | Satoshi Club: Will we need to stake our tokens to predict?
Jet Jelly: >The Mars has be regarded as a potential second home for humans, and in a bid to leverage on this theory, you created the Mars Economy as a blockchain project that will give users the privilege to anonymously predict outcomes on Mars mission. How do you intend to create a balance ecosystem of the new colony on Mars?
The journey with this clear intent — create a balanced ecosystem — starts exactly now, with Mars Economy. We are democratizing access and providing everyone an opportunity to secure a place in that future ecosystem now. First — through education, support and prediction market based knowledge consolidation/sharing. And next — with Phase II, where our project and a newly developed protocol with “dock” into the Martian financial ecosystem, bringing along the invested utility & value.
You will be able to stake either DMT or BUSD <= to participate in the prediction markets
Mary | Satoshi Club: If prediction goes to 2040 does it mean i will need to stake tokens till that time?:grinning:
Teflon Musk: We don’t have any NFT plans at the moment but it’s something that’s been mentioned a few times by our community members. Certainly something to consider!
D. | Satoshi Club: great!
Jet Jelly: You will bet on the outcome towards 2040 and as certainty around it grows, a specific outcome appreciates in value. The earlier you bet — the more you gain! You can always trade your prediction market outcome tokens, before the actual event :wink:
Mary | Satoshi Club: Gotcha!
Thank you for your answers! Ready for the most exciting part of our AMA? Live part?
Teflon Musk: Let’s do it!
Mary | Satoshi Club: Let’s go :rocket:
LIVE QUESTIONS FROM THE COMMUNITY SEGMENT
Nitro Genius: q1. Do you guys ever wanted to be astronauts for NASA?
Jet Jelly: Answer — Certainly. As a boy I always wanted to go to space and explore 🙂
CryptoFollower: q2. MarsEconomy is a blockchain-based prediction market. But will it be always about the predictions about Mars? How many predictions can be made about Mars and what kind of topics can be chosen? And if it is all about Mars, won’t that limit the project? Maybe you can add another planets too?
Teflon Musk: Answer — Yes! For starters it will be hyper focused on projects directly impacting Mars colonization but is built in a way that different projects and initiatives can be added as the space industry continues to innovate
Andrey :dizzy: q3. Liquifi website shows only $4976 as BNB ETH pair liquidity, this seems quite low. How do you make sure price impact is not too high on the high volume trades and you do not run out of liquidity completely if whales decide to move large volumes? Thank you
I.S. : Answer — Actually, as I can see it’s $7590 right now. Of course, Liquifi will always strive to attract more liquidity to the pools. But that’s where Liquifi’s solution for the price slippage problem is coming up. Using Liquifi’s time-locked swaps we can achieve low price impact event on small pools. And we specifically use this feature for new IDO pools.
CoinTravolta: q4. You establish a link between the progress of your project and the colonization of Mars. Is it a concept, or will the colonization process of Mars really determine the success and development of your project? What if there is never colonization on Mars?
Teflon Musk: Answer — Whatever ends up happening, users can use the Mars Economy prediction market to take either side. A unique way to bet on your beliefs.
pouze informace: q5. There a lot of Mars tokens Moon tokens right now. What makes your project different from those other tokens?
Jet Jelly: Answer — What makes us different is that we are not just a meme/fad token. We are an ecosystem of protocols with a very specific utility, experience in the domain (space/business/crypto/meme economy) and evolving partnerships
Sen: q6. Liquifi and Mars economy are both good projects, but during these days of high fee, the good projects are who have implemented the Cross Chain feature, so can you tell us how many chains are compatible with Liquifi and Mars economy?
I.S.: Answer — Liquifi is planning to go cross-chain up to the end of summer.
Olivia Akuji: q7. Without proper marketing a project dies like a dead river. So, how strong is your word to mouth marketing and how do you planning to raise capital?
Jet Jelly: Answer — We have quite a unique marketing outreach. For starters, check @teflon_musk’s instagram => https://www.instagram.com/teflon_musk/
Matrix : q8. Do you think Martians will use MarsEconomy as their payment choice?
Teflon Musk: Answer — We sure hope so! We’re already getting a taste of cryptos usage within the space industry with SpaceX accepting Dogecoin payments for the Doge-1 Mission to the moon.
Gllean Maxwell: q9. There is a widely held belief that most projects will not survive in the long term. That’s probably true. What lessons have you taken from your experience or watching other projects in this space?
Jet Jelly: Answer — To be stay to our values, trust and listed our community, not oversell/overdistribute the token, build meaningful partnerships, develop something people really need and want.
Comfort Akin: q10 Hi:hand::hand:
Mars Economy focuses on prediction market. Will this prediction be limited to Mars? And what plans do you have for other planets.?
Jet Jelly: Answer — We start with Mars, because we need to focus and because it’s the “way forward” for humanity provided that we want to become multiplanetary species
Rыs’ka: Bonus Qust: According to the roadmap this month (May 2021) you have an LQF token listing scheduled. Can you tell us the listing start dates, where can we purchase LQF and at what price? What opportunities does possession of LQF give us, what functions does it have?
I.S. : Answer — $LQF is a governance and utility token for Liquifi. $LQF allows to create governance proposals and vote for them. It also gives possibilities to use present and future products on top of the Liquifi protocol — like IDO distribution pools. Currently $LQF can be traded on Liquifi and Pancakeswap exchanges, more exchanges are to come. $LQF can be also farmed with APR about 1900% (currently).
$LQF is a governance and utility token for Liquifi. $LQF allows to create governance proposals and vote for them. It also gives possibilities to use present and future products on top of the Liquifi protocol — like IDO distribution pools. Currently $LQF can be traded on Liquifi and Pancakeswap exchanges, more exchanges are to come. $LQF can be also farmed with APR about 1900% (currently).
Mary | Satoshi Club: Thank you for your answers) We will have Quiz part now! @ciupidos let’s make this quiz splendid:grinning:
Andrew: Bonus qust— Liquifi is a 100% Fair Launch project! What does it mean — “100% Fair”?
Jet Jelly: Answer — That means that the community owns 100% of the project. All tokens are distributed to liquidity providers (the supporting community) only. No pre-sale/mine.
Tahsin Ahmet: Bonus Qust: What do you think about the community contribution? Can they influence management and contribute to your project?
Jet Jelly: Answer — Absolutely, this is the intention here. We want to give our community the necessary rights & financial support to do that. In the end, the power is with the community!
Cool. Amazing questions, I can’t stop answering :smile:
D. | Satoshi Club: @teflon_musk @jet_jelly @is_liquifi big thanks for the awesome AMA guys! :clap::clap::clap:
Mary | Satoshi Club: Thank you @teflon_musk @n_ollo @jet_jelly @Bahama0 @is_liquifi for this great AMA! Good luck with Mars Economy :clap:
I.S.: Thank you very much for the brilliant questions! :+1:
END
Liquifi Useful links:
Website: https://liquifi.org
Telegram community: t.me/LiquifiGroup
Twitter: https://twitter.com/liquifiorg
Mars Economy Useful Links:
Telegram: https://t.me/MarsEconomy
Twitter: https://twitter.com/MarsEconomy
