MXC AMA Recap Session with Sam Jia from Berry Data (BRY)
Guest : Sam Jia, Berry Data CMO
Host: Iris of MXC Exchange
Iris: Welcome Sam. Could you tell us about yourself? What did you do before Berry Data and why did you choose to work for Berry Data?
Sam: I have been working in the blockchain field for more than 4 years, and I used to work as a Market Director and Business Consultant for a few blockchain projects, including aelf, TrueChain, BestSwap, and Bitribe. I enjoy working as a position where I can always interact with people, working as a Community Manager is one of my favorite parts.
Speaking of Berry Data, it is a price oracle project on Binance Smart Chain. I personally have a strong interest in oracles and relevant technology. Decentralized projects are the ones that we believe stand to make significant gains and provide very interesting passive income opportunities over the coming years. All Defi applications need price feeds on token swap and loan collateralization processes. They all need Oracles and this is what makes oracle projects so precious. However, most popular oracle projects can hardly practice decentralization. We want to bring the market a transparent and reliable oracle product.
Questions about the project:
Iris: Could you tell us more about Berry Data ? In other words, what does Berry Data do ?
Sam Jia: Berry Data is a transparent community-veriﬁed price oracle on BSC(Binance Smart Chain). Berry Data provides a trustless and decentralized alternative for off-chain data. Also, it provides the infrastructure for decentralized applications to query off-chain data by properly incentivizing miners to provide data.
How does Berry Data work?
Berry Data is an oracle system that parties can request the value of an off-chain data point and miners compete to add this value to an on-chain data-bank, accessible by all DApps on Binance Smart Chain. The inputs to this data-bank are secured by a staked miners network. Berry Data utilizes crypto-economic incentive mechanisms, rewarding honest data submissions by miners and punishing bad actors, through the issuance of Berry Data’s governance token, BRY, and a dispute mechanism.
Iris: There are many oracle projects out there, some have been quite successful, such as Chainlink, etc. What is special about Berry compared to other projects?
Sam Jia: Berry Data differs from other popular oracle networks, as the system uses miners rather than nodes to publish data to the blockchain. Publishing data through miners is a unique approach that is viewed as a more decentralized way to reach a consensus.
We are similar to ChainLink in that we are trying to tackle the same problem and we both agree that data is a necessity for Defi to continue to expand. Berry Data uses technology that we already know works for decentralization — staking and proof of work. However, we built it in a way that is upgradable and once the technology gets there we will also be ready to update our system.
The second point I want to make is that Berry Data has designed an incentivised token model to encourage building a strong ecosystem. Berry Data builds an ecosystem that consists of miners, data users, token holders, and developers. By practicing a well-designed, incentive token distribution mechanism, we create a robust and active oracle ecosystem and community by diversely distributing ownership of our tokens.
Iris: Oracle is indeed very important to DeFi
Remember to check out Berry’s social media and website:
🌐 Website: https://berrydata.co/#/home
🔥 Telegram: @berrydata
🔥 Announcements: @BerryDataAnnouncement
📚 Medium: https://medium.com/berry-data-official
🌐Berry Data Farming: https://berrydata.co/#/mining
BerryData (@berry_data) | Twitter
The latest Tweets from BerryData (https://twitter.com/berry_data). Committed to becoming the most widely used oracle on BSC
Iris: Great, could you give us some info on the Berry Data Token?
Sam Jia: Sure. Berry Data’s governance token is $BRY. $BRY is designed to empower the broader DeFi ecosystem to drive the creation of a fully transparent, community-owned, and open-source oracle platform on the Binance Smart Chain.
The total BRY token circulation is 12,500,000. Token distribution is as follows:
55% — Mining: 40% will be provided through data mining; 15% will be provided through liquidity mining
23% — Ecosystem Fund: will be used for partners to build the Berry Data project and its ecosystem as a vault
16% — IFO: will be sold on PancakeSwap IFO
6% — Team: will be locked for 2 years and release evenly every quarter
We have done IFO on Feb 16th on PancakeSwap (Binance DEX), we raised $1,000,000 for 2,000,000 BRY tokens, each BRY token was 0.5U. The IFO was too hot, we reached a IFO record of 18760.04% over-raised.
Here is an article convert about it:
Now, BRY is available to trade on MXC, obviously
As well as gote.io and PancakeSwap:
Gate.io: $BRY/$USDT Pair
Got.io: $BRY/$ETH Pair
PancakeSwap: $BNB/$BRY Pair
Iris: Great tokenomics! All are welcome to trade $BRY on MXC!
Iris: What would be one’s motive to hold Berry tokens? What can we do with BRY?
Sam Jia: First of all, I want to share that all $BRY holders can participate in liquidity mining, Berry Data official mining pool Berry Farm went live on March 1st. 1,000,000 BRY will be distributed in the mining.
Besides participating in liquidity minings, BRY token holders can also use $BRY to access live data streams and speciﬁc data on Berry Data network.
As the governance token, BRY token holders can vote on project issues. Any issue pertaining to the association and its platform that has severe implications will be put up for voting by means of the governance token. Any token holder can participate and cast their vote.
BRY tokens can be staked to incentivize the validation of existing oracles, scrapers, methodologies, and more. It is a very important design to monitor the work of miners and help build a sustainable ecosystem.
Iris: Since you mentioned Berry Data minings, could you tell us more about it?
Sam Jia: Sure, as I said, the Berry Data official mining started a few days ago, and all miners can enjoy 3x BRY mining rewards, we are still at the beginning, so the current APR is very high, is 156% APY right now.
For those who want to participate in the mining, they can buy $BRY and $BNB first, add BRY-BNB liquidity pool to get the LP token, then participate in the mining campaign.
🔶Berry Data Farm: $BRY+$BNB →$BRY 3x
You can follow the instructions in this article:
Also, BRY holders can participate other mining campaigns:
Iris: Berry Data has done the IFO and launched the official mining pool, what will Berry Data mainly focus on after?
Sam Jia: For the marketing side, we will focus more on creating more partnerships with other projects on the Binance Smart Chain. As a new member, we want to collaborate with oracle related projects, and other types of projects such as auditing, rating, etc… Also, we are planning to list BRY on more exchanges, both DEX and CEX
Speaking of Oracle, Berry will focus on Binance Smart Chain before expanding its ecosystem into other chains. Berry is going to build the most widely adopted on-chain price oracle on BSC by continuously upgrading its technology, enhancing product user experience, and providing free access to all dApps in the first 6 months after launch. We had a clear roadmap for both product development and community engagement. Please refer to Berry Data’s roadmap for detailed plans on product and ecosystem development.
Iris: In the future, how can we get BRY tokens?
Sam Jia: Yes, there are three methods.
$BRY can be get from: Trading, Liquidity Mining, and Oracle Mining
- Trading, Trading on MXC: MXC: $BRY/$USDT Pair
- Liquidity Mining which i mentioned above, and more minings campaigns are coming
- Oracle Mining: How To Become A Berry Data Oracle Miner?
Iris: Where can we find news about Berry Data ?
Sam Jia: Ok, Berry Data currently has few channels:
If you want to follow our latest news, you can follow our Twitter and Telegram News Channel:
Berry Data Twitter: https://twitter.com/berry_data
Berry Data News Channel: https://t.me/BerryDataAnnouncement
If you want to join Berry Data community, you can join our Telegram community: https://t.me/berrydata
For the latest code:
Official Website: https://berrydata.co/
For the latest code:
Official Website: https://berrydata.co/
Check out the new UI and design.
In addition, if you have any business inquiry or want to contact us directly, you can send email to email@example.com
Iris: If you were to summarize your project in 1 word, what would it be? Why?
Berry Data started with passion, a passion to provide great oracle services on BSC, “Committed to becoming the most widely used oracle on BSC”, which is still the motivation for the Berry Data team to move forward.
It will be the same till we actual archive it. If i have to summarize Berry Data in just one word, i must choose “Consistent”.
I invite all the MXC fans who participate in this AMA to join Berry Data journey along with us, to become a witness of Berry Bata from small to big, form good to outstanding, then, the BEST on BSC.
Iris: Awesome. Anything else you guys would like to add before we go into the live questions session?
Sam: As i said early, Berry Data has a great concept and version. I firmly believe that Berry Data will become the most widely used oracle on BSC, also, one of the best oracles on BSC. Berry Farm is still at an early stage, all BRY holders can participate in it now and enjoy the 3x BRY reward of the first 30 days.
Q1. Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?
Yeap, we know the importance of contract security and we have as Certik to do the auditing for Berry Data on March. We passed the auditing test with a higt score.
Here is the Audit report:
Audit Report (CertiK): https://www.certik.org/projects/berrydata
We will optimize our contract. In addition, Certik will keep protecting Berry Data’s contract and provide advice and suggestions on the contract.
Q2.What is the structure of this project , is it decentralised or a open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?
Sam Jia: We are an open-sourced project
Check out Berry Data Github for the full set of code
We launched our Oracle services on Mar 16th, and for the first 180 days, othe oracle service is free for all users, which means, right now, we are focusing on oracle services. For communtiy governace, we will eventially pass it to the community, which will be our next focus, in about few monthes.
Q3. Any soon coming event/milestone in your roadmap ?
For 2021 Q2, we will launched our smart chain and goverance. whihc means BRY tokens can participate in more about berry data goverance.
The updated Berry Data smart chain will take into consideration of reputation and track records of miners and source of data as important components for data selection. Those well-behaved miners and high qualified sources can get extra bonus.
Disputes Center will be launched where every BRY token holder can monitor and dispute error data. Those who execute successful disputes will win huge rewards from the team.
More partners will be on board to access on-chain data feeds through Berry Data
Q4. Token burn is important for investors, do you have any plan burn or buy pack?
Right now, Berry Data has set 5 Oracle mining machines to meet minimal requirment for the mining. We should have no worry about that at all becasue we are currently have more than 60 unique miners. For all the BRY token generated by those 5 machines, we will publicly burned and announce weekly.
Beside this, we will have more buring machinism and plans, more details will be announced later.
Q5. Many new projects made a good impression at first but were suddenly abandoned. How will you manage Your Sentinel $BRY token project to gain a place in the market and become a better token in the blockchain world ? At the moment , where you are focusing right now ?
Right now, we have 2 main focuses:
provide better oracle services and creating more pertnerships
First, we will try our best to provide the best services, the best oracle service, which is the core of our future,
For marketing aspect, we will creating more parternships on BSC, to gain trust from them first, then provide them with the best oracel services. and finnly to meet berry data’s slogan “Committed to becoming the most widely used oracle on BSC”
Q6. How does the Your token work in Your ecosystem, and is there any benefit for investors to buy token in the long run?
For $BRY usages, you can do the followings:
Pay for BERRY Data Feeds
BRY token holders can use Berry Data as well as access to live data streams and speciﬁc data.
Vote on Governance Issues
Any issue pertaining to the association and its platform that has severe implications will be put up for voting by means of the governance token. Any token holder can participate and cast their vote. In order to propose changes on the platform or its governance stakeholders require a holding of 1,000 tokens. Voting rights can be delegated to a stakeholder.
Validate Data Through Staking
BRY tokens can be staked to incentivize the validation of existing oracles, scrapers, methodologies, and more.
Q7. What is your long-term vision about the industry which you are working on? Are you afraid some day there will be another project with more innovative technology can replace your project?
For the long-term vision, i firmly believe that all future DAPP will need oracle, oracle is the underlying product for the future defi, is the infrastructure.
Are you afraid some day there will be another project with more innovative technology can replace your project?
No, i dont, because not just other projects are developing, we are keep developing and upgreading as well. If there are better and more advanced technologies appear, Berry Data will adopt them as well. Also, our goverance machainism allows Berry Data to transform fast and to catch the latest technologies.
Q8. Many things can make a project strong like the community, the quality of the project, its investors. What make Berry Data strong? What will you do to make it more stronger?
What makes Berry Data strong — outstrading oracle services
What will you do to make it strongerer — outstrading oracle services and marleting explansion (such as more partnerships and indepht cooperations)
Bside those, we have great communtiies, and we are welcome more people to join us.
Q9. Can you name some of your project’s key achievements and what milestones are you currently working on?
-Corrently the most dedicate oracle on BSC
-more than 18k BRY unique token holders
-faithful team members
The all above make us have great potential.
Addition to the great potential, the Berry Data team is working hard to make Berry Data become used by more people and Dapps!
Q10. It looks like Berry Data plan to dominate of the De-Fi market so what are the strategies Berry Data prepared on achieving this?
Good, better and the best oracle service & work hard and harder on mareketing expansions, aggressive BD to let more people know about us and to show them how good we are.