AMA Satoshi Club x CAG3, September 4th
We were delighted to welcome our guest from CAG3. The AMA took place on September 4th, 2021 and our guests were @bakreemah and @YHWH_is_King1
The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
Gold Rocket | Satoshi Club: Hello, dear Satoshi Club! We are pleased to announce AMA with CAG3!
Gold Rocket | Satoshi Club: Today our guests are @bakreemah and @YHWH_is_King1
Andrés M. | Satoshi Club: @YHWH_is_King1 and @bakreemah welcome to Satoshi Club, is a pleasure for us to be your host today
Samuel | Will Never PM you first|: Hi thank you, glad to be your guest today
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, guys!
Gold Rocket | Satoshi Club: How are you doing
Samuel | Will Never PM you first|: Thank you Gold
Samuel | Will Never PM you first|: Very fine, how about you and this wonderful community?
Gold Rocket | Satoshi Club: We are really excited about upcoming AMA
Gold Rocket | Satoshi Club: Let’s start! Introduce yourself please. How did you get to be involved in crypto & CAG3
Gold Rocket | Satoshi Club: Tell us please about your position in CAG3
Samuel | Will Never PM you first|: Thanks
Got into crypto in late 2016 through a friend who suggested it to be a form of payment for an online business we were involved in. With C4G3, I’ve known the core team for some time and we’ve been brainstorming ideas on how to improve the meme ecosystem and take it to another level.. After sharing a few ideas and looking at the potential and what the future holds, I decided to be part of it.
Gold Rocket | Satoshi Club: Btw we would like to know more about your team. Who is on the project team core?
Andrés M. | Satoshi Club: What is the meaning of C4G3?
Samuel | Will Never PM you first|: This is a breakdown of the current team and some have already passed KYC
Core Team: 4 (Developments).
Volunteers: 3(PR, Marketing, etc).
Volunteers will be dissolved once everything is handed down to the community, they may continue with helping the project if they wish.
@bakreemah who is here with me is part of the core team too
Samuel | Will Never PM you first|: C4G3 is a meme spelling of the word CAGE
Gold Rocket | Satoshi Club: Thanks for great introduction, we will have several questions selected for the Part 1. Ready to start?
Andrés M. | Satoshi Club: Oh got it.
Samuel | Will Never PM you first|: Ready………..
Q1 from Telegram User @Billz120
On C4G3 (TOKENOMICS)- I understand it stands quite apart and goes against the grain of typical meme tokens. With a fixed supply and no transaction tax, C4G3 is not Deflationary.we are equally made to understand that C4G3 Token by design doesn’t follow the current and common trend. This is very interesting to hear. Could you please tell us enthusiasts what particular trend unique C4G3 applies in blockchain as the utility and governance token for a meme Index protocol that is an equally-weighted index token of top and tradable meme tokens?
Samuel | Will Never PM you first|: The team decided to make the C4G3 token a simple ERC-20 token. Honestly speaking, that’s how normal ERC-20 tokens are meant to be as composed by @feindura one of the Ethereum core Devs and Vitalik.. Tokens with taxes have some downsides and we didn’t want to add that to the the set already available in the pool. C4G3 is a governance token, initially governing the CMI and subsequent index pools in the future. It can also be used to mint the CMI.. It’s the only irreplaceable token in the index and if any new index gets created, C4G3 will be an automatic addition. Thank you
Gold Rocket | Satoshi Club: thanks a lot for the answers! please share your tokenomics with Satoshi Clubbers
Samuel | Will Never PM you first|: There you go https://docs.cag3.io/tokenomics
Gold Rocket | Satoshi Club: Thanks for sharing
Gold Rocket | Satoshi Club: Ready to proceed to the next question?
Samuel | Will Never PM you first|: Ready..
Q2 from Telegram User @Emnking
CAG3 as a community driven project have organized a CAG3 Shillers Volunteer platform where CAG3 will share certain responsibilities with the community in order to enhance maximum community participation in an organized manner. Can you tell me the benefits one will get from being a CAG3 Shiller? What are the processes involved in being a Shiller volunteer? Is this the same an ambassadorial program? What are the requirements for users who’re willing to be a part of this project?
Abu-Bakr: Hello Everyone!
Sorry am late! Got held up in a traffic.
Gold Rocket | Satoshi Club: Hi! Nice to e-meet you
Abu-Bakr: Thank you! Nice to e-meet you as well
Andrés M. | Satoshi Club: Don’t worry, welcome to the AMA
Samuel | Will Never PM you first|: The volunteer group can be considered as an ambassador program even tho there are no certain terms or rewards spelt out but the team will certainly reward active and volunteers who put in great efforts to help push the ecosystem forward. Currently the only requirements are your interest in what we are building and if you have any skills..
Here’s a form every interested person can fill to get involved
Andrés M. | Satoshi Club: Are you planning more similar events?
Gold Rocket | Satoshi Club: Satoshi Clubbers
please pay attention
Abu-Bakr: First, this is an ongoing events but may be closed soon.
Secondly, Every member of our community can promote the project in there own possible ways, this is built for the community.
Gold Rocket | Satoshi Club: Thanks for clarifying
Andrés M. | Satoshi Club: Great job, community is the pillar of each project
Andrés M. | Satoshi Club: Thanks for the answers, ready to go with the next question?
Q3 from Telegram User @Asela1112
You are going to launch CAG3 MASTERS (NFTs) on Phase 04 of your Roadmap. CAG3 as a Meme Index platform, how will you bring this event in to your ecosystem? Will you allow your index platforms (Meme tokens) to present their NFTs within CAG3 platform? How about the real world benifits of CAG3 MASTERS NFTs? Will your team only create NFTs or do you allow CAG3 community artists to create NFTs? And how about the NFT price evaluation, Do you have a idea about that already?
Abu-Bakr: All things regarding the NFT as indicated on the roadmap are yet to be finalized, since the entire NFT ecosystem is going through series of development, we will not make any decisions until we have been able to explore all options, this will determine the form which our NFT is going to take.
One thing is certain though, CAG3 MASTER NFT will not be a joke.
Andrés M. | Satoshi Club: Could share us the whole roadmap?
Abu-Bakr: An example of this is the fact that there are numbers of L2 upcoming projects specifically designed for NFT ecosystem, we will want to benefit from this, so as a result, we won’t be making a final decision until we have been able to explore all alternatives that can greatly benefit CAG3.
Abu-Bakr: Sure, our roadmap can be found on cag3.io.
Gold Rocket | Satoshi Club: Thanks for sharing
Abu-Bakr: My pleasure!
Gold Rocket | Satoshi Club: Let’s proceed to the next question
Q4 from Telegram User @yellowchamp
Many DeFi platforms like Uniswap, Yearn, Compound among others have made decentralization a guiding priority and you intend to follow in those footsteps. You want to see a future where CAG3 finally becomes a community-owned and run project with all proposals made and decisions voted on or taken solely by the community. So,in what way that you will follow the footsteps of those mentioned platform as decentralization is their guiding priority? As we know that those platforms mentioned were already established their name in the market,so as a meme token what is the greatest potential of CAG3 to be more decentralized and also be establish in the market in upcoming time? If CAG3 will be a truly community-owned project,what will be the role of the team behind CAG3? Thank you
Abu-Bakr: Doge, Shib, Kishu, they were all initiated by a single mind, however, they became a community owned project all thanks to the efforts the community contributed to the development of the project. Nevertheless, the team/developers didn’t abandoned the project, what they simply did was create a big circle of working force or team, propelling the project even to a greater height.
This is the footsteps we also plan to flow.
In other words, Currently, the main function of the team is to ensure the project function as expected, gets the exposure that is needed and guide new members willing to assist the team on how things are done, nonetheless, the team will always sort after advices from the community, seeking the best of opinions, once the project is fully matured, then the community takes total control with the team serving as mere supervisors.
Samuel | Will Never PM you first|: Decentralization as we know and see it has no peak. You can see some flaws in the Uniswap governance platform over the past few weeks but this is a new ground for cryptocurrency projects and we don’t expect all things to be perfect but we believe releasing the project completely into the community is the best way to make sure this project continues to thrive and a strong and vibrant community is the key. Some team members will still be there to assist especially with development. C4G3 will tap into the success of dear Doge and Shiba and that’s how we will establish ourselves.
Andrés M. | Satoshi Club: Looking your roadmap, specially the phase 4, staking. Could you tell us more about it? How high will be the APR?
Abu-Bakr: Again, at the moment, we can’t reveal much info on those as it depends on the trend of the current development. So we won’t want to say a thing now and change later. However, every information will be duely committed to the community way before execution.
Gold Rocket | Satoshi Club: Thanks for your answers
Gold Rocket | Satoshi Club: Ready for the next question?
Samuel | Will Never PM you first|: Ready
Q5 from Telegram User @Ajpaa
C4G3 is deployed on Ethereum blockchain with a decentralized ERC-20 token that will be used to govern the C4G3 ecosystem. Considering Ethereum high gas fee, why did you decide to use Ethereum protocol? What are your plans to scale the high transaction fee? Do you have plans to integrate other blockchain with lower fees with faster transactions like BSC?
Abu-Bakr: The protocol on which the Index platform will be launched is at the moment only on Ethereum chain. We understand how difficult it is for some to get along with eth fees, at this moment we are currently debating the best solution to give easy access to out ecosystem, more on that info will be communicated once a decision has been made by the team.
Samuel | Will Never PM you first|: Ethereum was chosen because that’s where the CMI is being developed. The fees have been quite outrageous and the team has taken notice. Can’t give any info right now but the team will work on a good and favorable solution for our community.
Andrés M. | Satoshi Club: Don’t you think high fees of the network could be a problem to the liquidity?
Gold Rocket | Satoshi Club: By the way, please remind us, where we can buy your tokens?
Abu-Bakr: Well, every project on ETH chain sures value the longevity offer of the chain over short term barriers. And yes it could be for the main time, but once CAG3 has been marketed the way we are planning, it won’t be.
Samuel | Will Never PM you first|: Our tokens can be purchased here
Abu-Bakr: Our token can currently be traded on:
Uniswap, Shibswap, and tokpie exchange. Links can be found on this message: https://t.me/cag3_Index/85
Andrés M. | Satoshi Club: Great
Gold Rocket | Satoshi Club: Thanks for your answers
Gold Rocket | Satoshi Club: Let’s proceed to the next question
Andrés M. | Satoshi Club: Pay attention Satoshiclubbers, an amazing gem here
Q6 from Telegram User @Jonahapagu
CAG3 is said to be a community-owned project and that after some time the team will be implementing a governance system to give complete control of whatever has been built to the community, but In the initial stages, the team will be in control of key sectors of the project, especially development, till a time when the team will relinquish control on the project into the hands of the community…So what will be the features of your governance system and how do you intend to hand over complete control of CAG3 to the community, at what level of development or stage will the platform be completely handed over to the community
Abu-Bakr: To simply put.
It will be handled in not so diffiferent ways our predecessors have done it, we might add a few tweaks though.
Andrés M. | Satoshi Club: Good point
Andrés M. | Satoshi Club: Btw, what could you tell us about security? Have you done any audit process?
Abu-Bakr: Our current token $C4G3 was audited bu solidity.finance, and we will also audit our Index platform before mainnet deployment.
Part 2 — live questions from the Telegram community
Q1 from Telegram
Samuel | Will Never PM you first|: Yes that’s the perfect way to go about it. C4G3 is the governance and utility token while CMI is the index. There is a difference. CMI needs to be backed by the underlying assets before they can be in existence. If you check our tokenomics you’ll realize some funds have been set aside to get the assets that make up the CMI.
Q2 from Telegram @LuisPagulayan
What is all about your voting campaign at CoinCatapult? What is your purpose to gather votes? How does it affect your platform
Abu-Bakr: Voting on coincatapult helps in the following ways:
1. Test the strenght of our community support as early ad we are.
2. Get us listed on the platform. We believe every good exposures is better for the Project’s public awareness.
Q3 from Telegram @Korryl
this is 1st time i hear about C4G3 project and its looks great also promising, so can you explain to me where to get C4G3 Token? how about PreSale / IDO ?
Samuel | Will Never PM you first|: The sale already ended about a week ago and current the only ways to get it is to buy on Uniswap, Shibaswap and Tokpie
Q4 from Telegram @cenkkargin0666
Communities created in different regions for projects and with large audiences can provide different and interesting ideas.What are CAG3’s perspectives on communities and is there a region where it focuses specifically? What are CAG3’s marketing strategies and plans to reach non-crypto users in particular?
Abu-Bakr: As we have stated earlier, we strongly believe in community support, this is part of the reasons why we decided to have an AMA with different regional A groups.
Q5 from Telegram @Akira236
I see that $C4G3 is fixed at 100000000,
Do You plan to reduce the current supply?
If yes, when is that happening?
Abu-Bakr: For now, the supply is already circulating and fixed, so no plan for further reduction.
Q6 from Telegram @Prashantbgmi
You said that $C4G3 might become more scarce than most deflationary token, How will try to make it more valuable?
Samuel | Will Never PM you first|: By including it in more index pools that will be launched subsequently, it’ll become scarce since it’ll be the only automatic addition in all pools and also irreplaceable
Q7 from Telegram @tomo_fan
What were the main flaws did you get from the audited report by Solidity?
Were you able to Clarify it?
Abu-Bakr: No flaws were detected from the audit.
We also ran some internal audit before going public with the audit.
Q8 from Telegram @sophiejohnson1
NFT is very popular. Will there be CAG3 NFT integrations or enhancements?
Samuel | Will Never PM you first|: Yes there will be, we plan to make it more than just artworks as seen recently on the CAG3 Website — cag3.io
CAG3 Telegram — @c4g3Index market and a lot of research is being done, more information will be released in due time
Q9 from Telegram @King_Raja
$CMI token has been created to track the index assest, But actually how will it work?
Au-Bakr: Think of holding those five tokens together in a wallet
Q10 from Telegram @mucana
WHY should a crypto newbie choose the CAG3 platform?
Abu-Bakr: Think of it as a fair way to invest in meme projects
Part 3 — Quiz Results
In the final part we tested your knowledge in terms of CAG3 . They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.