0x_nodes x Satoshi Club AMA Recap from 16th of May
Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from 0x_nodes and our guests were @superb_owl and @SwansonRonson. The AMA took place on 16 May.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram community
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with 0xnodes! Welcome to Satoshi Club
D. | Satoshi Club: today our guests — @superb_owl and @SwansonRonson !
welcome to Satoshi Club guys!
how are you doing?
for now we can read this article, and find out more about project
Swanson: Hey everyone
Mary | Satoshi Club: Hello, Swanson!
Happy to see you here!
Swanson: Thank you.
D. | Satoshi Club: hello! good to have you here!
Mary | Satoshi Club: So, let’s start our AMA!
D. | Satoshi Club: @SwansonRonson are you ready?
Mary | Satoshi Club: could you please introduce yourself and tell us more about 0xnodes?
Swanson: Sure lets go
– 0x_nodes is a cross-chain liquidity platform that provides secure synthetic asset movements between blockchains — enabling broader yield aggregation strategies for Defi users. 0x_nodes technology will provide seamless value transfer between blockchains by utilizing a core mesh network between EVM ecosystems — and will bridge the EVM network with external blockchain networks. This unidirectional yield aggregation pulling from EVMs to the main-net will provide new opportunities for yield, while also simplifying the experience for the end-user.
Mary | Satoshi Club: This sounds like a dream
D. | Satoshi Club: this sounds like something from the future
Mary | Satoshi Club: Do you have a big team? How many people are working on 0xnodes project?
0xNodes is a comprised of a development team (2.5 solidity devs, 2 react devs, multiple designers) and a series of very talents advisors that are integrated deeply in our future. We are in the process of hiring a new executive team which will take about 6–8 weeks. 0x_nodes is growing:)
Mary | Satoshi Club: Wow, that’s a big team
are you anons or some members are public?
Swanson: we are all 100$% doxxed –
and all information publicy available.
Mary | Satoshi Club: Oh, cool!
D. | Satoshi Club: and we can see it on your site https://www.0xnodes.io/#team
Mary | Satoshi Club: Thank you for your intro, Swanson!
Ready to start with the questions from our community?
Swanson: Sure lets go!
D. | Satoshi Club:
Q1 from Telegram user @V1ct0r_26
I saw that 0x_Nodes announced their IDO event on the CyberFi/Samurai Launchpad, happening on May 17th, 2021. Could you share more about it with us? Why did you decide to have your IDO on Samurai Launchpad and what expectations are you planning to fulfill? How many $BIOS tokens will be offer in such IDO and at what price? How long will this IDO be? And once it’s over, what will we next?
Swanson: Sure — -
Sure — 0x_nodes reached out to multiple IDO and launch platforms — most were not too concerned about the technology and processes involved, we at 0x_nodes wanted a strategic partner who asked the right questions and was willing to go above and beyond. Our working relationship with Samurai has been brilliant from the beginning and we hope to continue this relationship moving forward. The IDO will be 24 hours with a token price of $5 you can find all information here https://0xnodes.medium.com/
D. | Satoshi Club: as i see whitelist for IDO is already closed?
Mary | Satoshi Club: Great approach!
Swanson: Yes it is unfortunately, lisiting on sushi on the 18th
Mary | Satoshi Club: So, your first listing will be on Sushi? Not Uniswap as usually everyone doing?
D. | Satoshi Club: by the way, why you decided to launch 0x_nodes on sushiswap? majority of projects always prefer uniswap as their first dex, your decision somehow connected to uniswap v3? as far as i know, some projects having issues with v3 at the moment
Mary | Satoshi Club: Your question is full
mine is short
Swanson: We think Sushiswap has some great upgrades coming forward and will eventually outpace UNISWAP in months to come
D. | Satoshi Club:
got it! thank you for answer!
Mary | Satoshi Club: Thank you for your answers! We definitely wish you to have success with your IDO!
Ready to proceed?
Swanson: Thank you
Mary | Satoshi Club: @Cool_as_Ice shoot the next
Q2 from Telegram user @Highpee
One of the features mentioned in your lite paper is Cross Chain FIAT Onramp Integration as well as incorporation of FOREX and real world assets into Defi. This is a bold target considering how delicately regulated this financial area is. How will you be able to execute this feature and enable FIAT Cross chain capabilities considering the restricted nature of the traditional financial sector? In what way have you design your protocol be able to operate a FOREX structure in Defi as well as extend operation into a larger investment latitude through hedge fund involving synthetic and real world assets derivatives?
Swanson: This is 0x_nodes end vision. we are in the process of building strategic partnerships who can help build out this technology. I can’t really talk about this right now — but watch out for updates
Mary | Satoshi Club: Ok, gotcha
btw, do you already have some partnerships?
D. | Satoshi Club: that will be a pretty cool feature, we hope you will integrate it successfully
Swanson: ohh — yes we will be announcing these in the coming weeks
Mary | Satoshi Club: Ok, i see you prepared a lot of announcments for your members! We will wait them
Thank you for your answers! Ready to jump to the next question!
Swanson: Of course
we have alot of information to be releases
Q3 from Telegram user @Arisabela
The 0x_Nodes is a modularized protocol which has three parts: NON_EVM, ETH_MAINNET and EVM, I’m not a tech expert but how do these parts contribute to create a cross chain brigde for your platform? How do you achieve an universal compatibility?
Swanson: Good question — probably best to break it down as this and what 0x_nodes is aiming to be — 0xNodes is a liquidity aggregator, meaning that it has a method in place to pull in liquidity and reward the user in protocol fees collected throughout the entirety of the 0xNodes network. Additionally we have an asset allocation system that allows for remote access that you have stored, debited, or credited to your account on chains active inside the 0xNodes network.
D. | Satoshi Club: thank for clarification! by the way, can we ask you about security? do you have plan to do security audits of your platform or perhaps you already done it?
im stole your favourite question @madamlobster
Mary | Satoshi Club: Yes
Swanson: Yes, we have some great partners who will be implementing security across our technology and audits will happen regularly — 0x_nodes has a fantastic team ready tog o
D. | Satoshi Club:
Mary | Satoshi Club: Thank you for your answers!
let’s go to the next question!
Q4 from Telegram user @cryptofollower
On your roadmap Q2 I see there is a 0x_BIOS Airdrop distribution. There are 500k $BIOS tokens as bounties planned. How can people earn from this airdrop? As I know there are also another airdrop for holders of Xiot and Bxiot tokens. When will snapshot be taken and what is the airdrop ratio for token holders?
Swanson: so — good question
Anyone holding these tokens will wait till tomorrow and have the opportunity to take part in an airdrop — with will announced in the coming weeks. Users do not need to do anything
D. | Satoshi Club: that’s cool! thank you! time to buy Xiotri
sorry for the late arrival, my calendar wasnt sync’d evidently
D. | Satoshi Club: hello! welcome
Mary | Satoshi Club: Hello! Happy to see you here
“owl”: any last second questions i can help with?
Mary | Satoshi Club: Yes, you know we really want to ask you what is connection between 0xnodes and Xiotri?
D. | Satoshi Club: by the way, is there a place for all xioti tokens in 0x_Nodes ecosystem? i have check your litepaper and all articles on medium, and i found that xiotri token not mentioned anywhere as a part of 0x_Nodes or its future
“owl”: simple answer is yes, in the ETH:mainnet module you’ll be using $BIOS+asset, where the xiotri v1 tokens are a whitelisted secondary asset to deposit into the module
D. | Satoshi Club: got it!
Mary | Satoshi Club: Thank you for your answers! Ready to proceed?
“owl”: yeah, ofc
Q5 from Telegram user @meml97
I read on your docs that one of the use cases of $BIOS is in the governance of your platform, but while looking for information about the governance itseflt I couldn’t find anything about it, so can you tell us more about it? How will the Governance of 0x_Nodes be? How can users be part of it and what role will your token have on it?
“owl”: yes, thats pretty standard stuff for the initial launch — proposals are submitted, proposals are passed or not passed, onchain voting is enabled.
we plan on including more advanced stuff like the segmentation of yield between high risk appetite and low risk appetite in the long run
so really as fine grained tuning as the community desires
Mary | Satoshi Club: How you will incentive your members to vote?
“owl”: i suppose a community member will vote if they feel they want a proposal to pass or fail
D. | Satoshi Club: governance function will be available right after launch on sushiswap?
Mary | Satoshi Club: Yes, you have outstanding project and it’s already big incentive itself to take part in its governance
“owl”: no — not quite, the token launches on may 18 (02:00:00UTC). platform is sleighted for a couple quarters out, we have some unannounced functionality to deploy in the interim between Q2 <> Q4 ; through parternships and integrations that will be announced post IDO
D. | Satoshi Club: understood, thanks!
@madamlobster do you have any additional questions, or we can go to the last question of this part?
Mary | Satoshi Club: No, everything is clear for me
D. | Satoshi Club: nice! then the last question? @superb_owl
“owl”: ofc! always happy to talk about 0x_nodes
Q6 from Telegram user @victorogb
With a critical study of Oxnodes roadmap, it’s pretty clear that a bulk of the network deployment operations will commence from Q4 2021 to Q1 2022, with deployments across major chains such as ETH, BSC and MATIC coming first, followed by others coming much later, in that order. Therefore, how will Oxnodes carefully integrate most of it’s core features accross all networks deployed, and talking about user preferences and choice, how will the Oxnode network ensure that all deployed networks work optimally for it’s user irrespective of specific operations or transactions?
“owl”: oh thats a good question, real banger
so everything about 0x_nodes is designed to make life easier for the end user operation in the decentralized finance space
our core thesis is that the barrier to move assets, and operate on multiple chains is a hindrance right now
so with that thesis being the foundation, everything we’ve built so far is coming from that perspective — simplifying the multichain experience (operating on BSC matic mainnet), and then building yield aggregation modules on top
so a) make things easy and simple, b) enhance the money flow of the operation
Mary | Satoshi Club: Which projects are your competitors?
“owl”: we’ve got an amazing dev team working on the money, and an even more amazing design and ux team making the user flow simple, easy, and understandable
i mean, honestly — any yield aggregator operating on single chain is probably a “competitor” but we dont really think about it that way
we aim to be novel, and innovative — just because everyone else is doing something doesnt mean its the right way to do it
Mary | Satoshi Club: Got it
can’t wait to see everything working!
D. | Satoshi Club: what about fees on your platform? do user will have to pay fees every time when he or she wanted to switch the network?
Mary | Satoshi Club: True words!
“owl”: so, fees are an interesting subject
the way that our platform operates crosschain is much more of a lending platform than it is a bridge, where you have to wait for the liquidity to move to the bridge in order to have optimal usage
the fees for interoperability from the 0x_nodes interface will be paid in the native $BIOS token, while the user collects protocol fees in their respective chains native settlement token (ETH, MATIC, FTM, BNB)
so we feel like its a win:win for the end user
D. | Satoshi Club: it will be cool to try
Part 2 — live questions from the Telegram community
so, great questions
broad strokes: security, partnerhips, why do we have a token, and what are we doing with the money we raised
i copied about 10 or so and can post them individually, but good to get the general sense of what everyone wants to know
security: we are in talks with multiple auditing firms, we dont believe in putting all of our eggs in one basket — all contracts will be audited from multiple angles, and additionally we have security experts on our advisory board that will assist in not only a code review from external attack vectors, but also flashloan experts to make sure our funds are safu
partnerships: yes, but wait until after the IDO to hear more about those
our yield aggregation system is built on top of systems are deployed on market
lots of very familiar names
yes — we need a token, it’s very familiar that a lot of projects that launch in defi tokenize their project but dont actually need a token — our $BIOS token is _deeply_ ingrained in our platform
what are doing with the money raised: we just hired a CMO, COO, and CPO. super excited to make those announcements soon, we have been very lucky in our hiring. we are frugal, and wise with our money.
let me select the 10 questions now
Q1 from telegram username @mucana
Partnerships are important in the crypto world. Do you have a connection with another project? Can you give a list of your friends or partners?
“owl”: good question ^
Q2 from telegram username @KhaleesiTheCryptoLady
Why did you choose to conduct your IDO in CyberFi/Samurai Launchpad? What are the requirements in participating your token IDO?
“owl”: this was another question i wanted to answer
i spoke to literally every launchpad on market right now — and cyberFI was absolutely the best fit for us.
it was a long, arduous process, but we wanted to be as much of a boost and have as much control over the IDO as possible. a lot of the launchpads on market right now really want to make the projects that launch on them fit into their mold — we dont operate that way.
comically, one of the largest launchpads wanted to redesign our tokenomics after we had 50 SAFTs out.
Q3 from telegram username @QueenKarinaa
For your inauguration $BIOS. Who are you partnering with? Are there any Sponsors working with your project? Or is there an agreement with Artist or management?
“owl”: i believe i answered this question
Q4 from telegram username @doithay1617
Can you tell us about the security of Ox_Nodes? When will Ox_Nodes Audit?
“owl”: answered this one
Q5 from telegram username @boradam
Do you have any github page so I can check your work daily and see the progress?
“owl”: not yet, but we’ll be putting it up publicly closer to launch
Q6 from telegram username @ CryptoFollower
This should be a long term project as building bearing strategies with assets across all EVM and non-EVM based blockchains is not an easy job. Polygon is building its parachain for more than 2.5 years and still continue to build it. Do you think you can reach a MVP end of this year? On Q4 there are Eth, BSC and Matic deployments according to your roadmap so when can we see 0xnodes nodes to fully launch? If bear season is near, can this affect your development plans?
Q7 from telegram username @KASG95
I understand that implementing this protocol at ETH would provide you with even greater adoption, but will your transaction costs really be just as high? or when implementing connection with other chains, will they be able to re-edit them?
“owl”: gwei is 54 for lightning last i checked.
thats actually an interesting point i want to talk about for two seconds
if you listen to mark cuban talk about building internet tech back in the 90s, and this is a guy who trailblazed in the late 90s in the video space, 10 years before youtube came to market
his ethos, is build not for the bandwidth on market — but for technology that will be relevant
deploying off mainnet is the equivalent of capitulating your widest audience
Q8 from telegram username @johnclark_0
In your Medium article, you mention with the 0x_nodes $BIOS token that you are determined to maximize the potential of the evolving multi-chain liquidity network to ensure that it covers every aspect of on-chain and off-chain transactions. So when exactly will this goal be realized and what lasting benefit will it bring to the DeFi industry?
“owl”: this is a great question as well
yeah, long term integration with onchain forex market with offchain integration is our long term goal
this would widen the audience in defi (adoption), as well as enhance the experience of people already operating onchain
Q9 from telegram username @yellowchamp
OxNodes will be going to be deploy to some chains like Ethereum, BSC,Matic, FTM, Solana, Avalanche and Cadena network. So,why decided to deploy to a lot of networks and not focus to one or two networks? Why choose those networks? If OxNodes will be deploy to those mention chains,what will be the impact will it bring to OxNodes network? Since you plan to integrate those networks,did you already have a negotiation with those different networks by now or it is already ongoing? Thank you
“owl”: OxNodes will be going to be deploy to some chains like Ethereum, BSC,Matic, FTM, Solana, Avalanche and Cadena network. So,why decided to deploy to a lot of networks and not focus to one or two networks? Why choose those networks? If OxNodes will be deploy to those mention chains,what will be the impact will it bring to OxNodes network? Since you plan to integrate those networks,did you already have a negotiation with those different networks by now or it is already ongoing? Thank you
i’ve got open dialogue with everyone listed on our roadmap
i spent about a month of my time reaching out to all of the chains and making introductions, letting everyone know what we’re building and whats coming from us. everyone has been more than receptive — and excited for us to deploy
we have an amazing network, through our investors, through our grinding hardwork, and our advisors — it’s been a truly humbling experience working with some of the top brass in the industry
Q10 from telegram username @meml97
It caught my attention that not long ago you said on Twitter that you “build in hostile enviroments”. Can you tell us more about what do you mean by that? What do you consider as a hostile enviroment and what are the advantages of building on enviroments like that? As we know tough situations can bring the best of us, so, what is this hostility bringing from 0x_Nodes? @superb_owl @swansonronson
“owl”: this was a reference to the state of the ethereum network
cant capitulate just because its “hard”, or not the easy road
Part 3 — Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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