My ‘Ask me Anything’ hosted by Austronaut.to
We are hosting our IDO on https://astronaut.to . Because of this event, we did a short AMA session on telegram. Since some things were done in voice chat I didn’t want to lose the information and write a little recap for all crypto interested people here.
Some will be a bit change in wording for better understanding.
Q1: My first question for you, what is Meduse Coin all about? Give us a little summary
Meduse Coin is a utility token that will be used on the Meduse exchange. We have three phases in which Meduse Coin will be deployed. In the first phase, features are unlocked on the exchange, such as fee reduction. In the second phase, our Meduse Coin will be used in our Coin Index Fund. In the last phase, the Meduse Coin will be the native currency for our decentralized cross chain ledger nautilus.
Q2: Could you tell us a little bit about yourself and your team? What are your past experiences?
I have been interested in computers and technologies since 1994. and have been in contact with Bitcoin since 2010–2011. IAt the beginning I was only in the OTC trade on the road. in 2018 I started to develop the fOTC trading platform and that was the start of Meduse.
Q3: What are some of your platform use cases?
One use case that stands out is our Coin Index Fund, a decentralized method to build coin portfolios and invest securely in funds with a community.
Q4 Can you briefly describe the top milestones and some of the roadmap?
First, we want to bring the features of the main feature of the exchange online by July, so that our users have the benefit right away. Our Decentralized Coin Fund should be ready by October. From 2022 there will be the first test prototypes of Nautilus Chain.
Q5 Give us a small rundown on your marketing plan.
We are not only planning to advertise on social media, we are also working with trading companies and with our Market Making Program we offer our users the opportunity to participate in the success of our exchange as a market maker.
Q6. Tell us something interesting we don’t know about you or your platform.
The Meduse Nautilus Ledger will be a game changer, because we will be able to have a chain wich is compatible to ETH Smart Contract also it is able to work cross chain.
Question from every one else
Will this be dual launch bsc and eth?
Wes we will lauch it on bsc and eth. To keep the swap smooth we are going to have an easy to use swap for our coin holders.
Will the IDO launch be NAUT exclusive or multiplatform launch?
At this current date, we don’t have a plan now. The only plan we have now is to start the IDO on Astronaut.
Can you post some links from your project ?
Website: www.meduse.io
Whitepaper : https://meduse.io/documents/whitepaper/meduse.pdf
Explainer Video for the Meduse Coin :
https://www.youtube.com/watch?v=9HMMAHEYFhQ
Telegram Group: https://t.me/meduseio
Bounty Program : https://meduse.io/bounty_overview/1/bounties
Airdrops : https://meduse.io/airdrops
How many people are on your team?
We are currently 12 Team members, but we have additional new team members who are not in the white paper right now. We will announce them too.
You have a public launch on your website and you will have your sale on IDO is this correct.
Yes, we will have on our platform a centralized launchpad, so it makes sense to use this too. The main difference is, that we are requiring KYC process from our users who are participate inside the Meduse platform. The KYC Plattform is only required for withdrawals from meduse platform. On a decentral Launchpad like Austronaut, there are no KYC requirements.
Are you coins going to be crypto-collateralized ?
Yes, a good example of this is our market making feature on meduse. To be a part of our market making program, you have to “freeze” your coins. This means now, that you can now make limit orders without paying maker fees. If you freeze more mdm tokens, you will be able to get a share from the taker fee.
But we have also examples, where you spend your tokens. For example when you creating your Coin Index on our Coin Index Fund.
So it for the most part a governance token ?
This is true for the exchange on Meduse. For the DeFi Part you actually going to spend it. Thats why our coin is on both chains (eth and bsc) to give them the possibility to use the coin index fund for different funds.
You can see it when you see the preference on the platform, at this moment ethereum is more expensive than bsc. In future this could change, but by launching it on both platform everyone can choose his favorite chain.
So you are regulated, how this will work with the launchpad and IDO ?
Yes, we are regulated from Estonian Financial Unit, and we are under the law of Estonia. Like other Exchange the biggest effect for our KYC will be the amount of value you can withdraw or deposit on Meduse. In most cases all services inside the platform will not be effected.
For the DeFi world, we are going to build services, for users who are more comfortable in this are. So for the DeFi world, we don’t need a KYC to be part of the IDO.
How much coin you will allocate for the IDO ?
Currently our goal is 1.000.000,00 $, the coin price will be 0,30 $ (0,24 €) and the total coin Amount will be a bit more: 4,000,000 MDM.
The total supply of the Tokens are 160,000,000 MDM. We have changed the contract for some reasons, but we used this as opportunity to reduce the total token supply. 42 % will be freeze in the company.
Can you tell me more of the Nautilus Chain ?
Nautilus is a cross chain secure ledger compatible with the ethereum vm. The reason why I think this is important, is not every asset class requires need to be on the same chain.
This is also the reason why Nautilus has its name. Nautilus is the submarine from the novel: Twenty Thousand Leagues Under the Seas. As you can imagine, the ocean is a three-dimensional environment. If you look at the ocean from above and think of it like the financial world, you would see risk from low to high risk on one axis and losses and returns on the other axis. You would think of it as a 2d map to navigate the financial world. If you look closer, go deeper into the sea, its acuall has a third dimension, and that is the asset class.
And this is the Idea of nautilus, to have a natural environment to have a multiple chain environment where different asset classes have its own chain and our main chain can control the other chain and deliver a multi chain wallet from one address.
Additional is to understand that all smart contracts which runs on ethereum or bsc will also run on nautilus.
Is phase one currently working ?
Phase one will be ready on July. You can actually look about the single feature what brings the feature in V1, V2, V3. But in general V1 are features on the central exchange, V2 are our staking model and DeFi Features like the Coin Index Fund or the NTF Market where you can buy and sell NFT Funds.
So people are staking in fund managers ?
No not like that. So we give every one can become a fund manager. That means they are spending a certain amount of MDM for creating a Fund. Around 600$ (500 €) to be like a gate keeper to keep people our for creating a fund. Because its not a good idea to to let everyone create a Fund. After a user payed and created a fund and fill the fund with assets, now he makes it public. Every one can see the performance of the Fund and can Invest in it. When a user invest in the fund, the fund allocate through swaps new coins and fill the fund with the new coin. The user recieve erc20 tokens, which represents partial value of fund. The total amount of erc20 tokens from this fund is the total market cap of the fund.
Who are your partners ?
We are currently talking to some Fundation to help us for bootstrapping and securing the nautilus network.
We are also working with Lexi as strategic partnership.
We have great advisors like Hasan Kirmaci (former Vice president of Garnter) see White Paper.
When you are looking to do the IDO
At the time of the Interview it was not clear, but now 1. June. 2021 on astronaut.to
