Anatha x SatoshiClub AMA from 17 December
Truth is always beautiful and we are always happy when the projects that visit us are as open and honest as possible in their answers. So, today we would like to tell you about the AMA session with our friends from Anatha. The AMA took place on December 17 and our guest was Edward Deleon Hickman, Founder & CEO of Anatha.
The total reward pool was 2000$ and has been splitted in 3 parts.
In this AMA Recap we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with Anatha! welcome to Satoshi Club:grinning:
GoldRocket: Good morning, dear Satoshi Clubbers!! We start our today’s AMA marathon with a very interesting project.
Anatha One: Aloha eeryone
Anatha One: Thanks for having me. Looks like a packed house!
Mary | Satoshi Club: You have very interesting project) Could you introduce yourself and tell us more about Anatha?
Anatha One: Aloha everyone, my name is Edward DeLeon Hickman. I am a crypto vet, having bought my first BTC back when it was 14 cents and have been a die hard member of the larger crypto community since about 2013. Anatha is the culmination of over 7 years of research, planning, and investment to leverage advances in information science and economic design to solve some of the worlds stickiest problems (namely structural violence and extreme poverty). It is my assertion that these problems are not only solvable thanks to crypto but our industry is going to unlock an age of abundance unlike anything we’ve seen yet. At Anatha we wish to be a part of that abundance.
Mary | Satoshi Club: Wow, you are so early bird) how did you learn about btc?:grinning:
Anatha One: I was working in finance when BTC first emerged and a few of the guys in our IT department had mentioned it. We explored using our offices rigs to mine it but found it was more cost effective just to buy some. My office lost interest almost immediately and so I ended up with a few hundred BTC from those early experiments but it wasn’t until 2013 that I realized just how important the technologies that made BTC possible were to civilization
GoldRocket: Blimey! good intentions! it’s always commendable!
Anatha One: Much in the way the 2008 crash made BTC necessary, it also destroyed my life in such a way that I was open and willing to absorb the solution that emerged in our industry
GoldRocket: And this is the right decision!:+1:
Mary | Satoshi Club: You have a good intuition:grinning: Yes, that were a hard times. But you made a good and i think life-changing decision. I feel that it influence all your future life
Anatha One: yes. The 2008 crash created BTC but it also created in me the passion to see these solutions emerge and to make sure that in the future, no one should have to have their lives destroyed because a few bankers in a darkened room decided they wanted to extract value from the global marketplace.
Mary | Satoshi Club: And now you want to give poor people to have access to wealth distribution sources, am i right?:grinning:
Anatha One: non national digital money is the solution to that problem but I think BTC was just the beginning
Mary | Satoshi Club: Yes, that’s right!
Anatha One: yes, I want to include ALL people in the inflation and distribution model of the emerging information age economies. I simply suspect poor people will be the ones to benefit from such a model the most.
Mary | Satoshi Club: Great! Sure, you will give them this possibility with Anatha:grinning:
Anatha One: I feel like that covers the broad strokes. Hopefully everyone gets a sense for what I am after with Anatha
Mary | Satoshi Club: Sure, it’s worth exploring:grinning:
GoldRocket: Btw what is the meaning of this name Anatha?
Anatha One: Anatha is short for “Anathapindika” who was the first chief lay disciple of Gautama Buddha, a man who built business models so regenerative that everyone and everything that interacted with them prospered. It is said he achieved a certain degree of enlightenment from his entrepreneurial mastery and as such he is someone I look to for inspiration. I first learned about him while reading the Art of Power by Thich Nhat Hahn (a great book that I suggest everyone read)
Mary | Satoshi Club: We definitely will read this… Seems, that you like to bring senses into everything you do)
Q1 from Telegram user @sajay999
You use Tendermint system for consensus on ANATHA. Why you have chosen this specific system and what are the advantages compared to others?
Anatha One: While we are never married to any protocol or system, when we began working on Project Anatha we realized the importance of interoperability which landed us in the Cosmos ecosystem. Tendermint is also a best in class protocol with very favorable performance aspects (which are being improved everyday, especially with the upcoming Stargate upgrade on Cosmos). I also found a way to solve one of the major attack vectors of a delegated proof of stake system (specifically the cartel problem) and as such it was advantageous of us to also deploy a DPoS system.
We are always open and ready to migrate to a better model if the market or our user base demands it though.
Mary | Satoshi Club: You considered other consensus before Tendermint?
Anatha One: We looked at the whole market overall and determined that Cosmos had the best SDK at the time which of course was powered by Tendermint. So that’s how we arrived to where we are now.
Mary | Satoshi Club: Could you tell us more about cartel problem, i am not very familiar with it)
Anatha One: The cartel problem emerges on DPoS networks when a small group of validators have so much of the staking tokens delegated to them that they end up cornering the market and developing total control over the system (this is a form of centralization we wish to avoid, of course). So in our model validators are not staked to directly but instead all staking (we call it Savings in our system) goes to a shared pool that all active validators participate in; meaning there’s no way for any validator to become a “super validator” and control an off-sized portion of the economic system.
This also has the added benefit of making things MUCH simpler for the user base. As they no longer have to research and find a single delegator to “trust”
Mary | Satoshi Club: Got it, you find a good decision, believe it will work.
Anatha One: Thank you. Its one of the many design nuances we are proud of at Anatha
Mary | Satoshi Club: I see:+1: a tones of work to make everything work perfect
Q2 from Telegram user @nagy_szabo
This is the link for audit. When I open it it is going nowhere. So, I can’t see anything regarding it. Please update the link and please explain is the main points analyzed there and what is the summary of it
Anatha One: I will be happy to pass that on to our CIO Jeff and the team at Halborn to make sure it gets fixed ASAP. I suspect there is a new audit somewhere but stand by while I send this issue to the team.
Let me know if you run into any problems with that one
Mary | Satoshi Club:
Anatha One: stand by lemme see what the team says
Mary | Satoshi Club: Sure! Btw, do you consider possibility to make more audits? I know it’s annoying, but lately we have a lot of incidents in DeFi space…
we have Halborn on retainer, so we are constantly doing new audits
(sorry last link had two HTTPS)
Mary | Satoshi Club: I can see it:grinning: Just low findings. Have you done any bug bounties?
Anatha One: I dont believe we have offered any yet but I would have to check with our security team about that. We certainly are open and willing to reward anyone that finds any problem with our systems and have a bounty fund forming as we speak. So if we aren’t already, we will be soon.
Q3 from Telegram user @arlarson
Your inflation rate is only 1% per year. This is great for the hodlers but it is not so good in order to motivate people to use your infrastructure to get rewards. How do you plan to compensate the rewards for users of the platform, beside that 1%
Anatha One: The inflation model is only one small slice of how users can generate value for themselves in our ecosystem. Also keep in mind that our distribution policy includes all users of the system, meaning unlike other networks, simply being a part of the ecosystem ensures you are receiving rewards. That said we have an MLM style referral system for both the HRA registry and our sales dashboard that will allow anyone to become part of the Anatha marketing effort and be rewarded for doing so. I think those are both really powerful tools that will generate a tremendous amount of energy for the ecosystem once the dashboard sale has begun.
two later phases (Defiance and Blockparti) will also include new ways to generate value for each end user, specifically leveraging DeFi trading activity and the attention economy to feed the larger economic Torus that sits at the center of our designs.
Mary | Satoshi Club: When Defiance and Blockparti phases will begin?
Anatha One: they are already underway with Defiance’s back end being tested now. We expect the early phase of that to be usable by our community in Q1. Blockparti is actually an older initiative but we don’t expect to see any aspect of that emerge out of testing until mid 2021.
Mary | Satoshi Club: Who can participate in testing? Is it just for team?
Anatha One: Well there will be an open beta phase of everything we do but we don’t push anything at least until its cleared a security audit
testing in our industry usually involves moving money around so we would always be sure to clear a security audit before we ask anyone to risk value
Mary | Satoshi Club: Oh, got it. I think your community will get their compensations and even more)
Q4 from Telegram user @surdumiha
Your mission to end the poverty is honorable and of course everyone wants that. The problem with projects with such big expectations is that they speak nice but rarely have clear solutions for the problem that they are trying to solve. How is your project sustainable from an economic point of view, because apart from better intentions, it looks like a regular defi project?
Anatha One: There is nothing “regular” about Anatha or our designs.
We aren’t simply saying we “should” solve global poverty we are asserting we have already developed the system (specifically the Anatha Torus) to do so. We aren’t simply offering lip service, as that is something I too find nauseating. Instead you can see the veracity of our claims by looking at the economic and distribution model that has already been deployed.
I understand that we are all a bit jaded from having project after project promise to solve big problems but as a crypto veteran I’ve also heard those empty promises too. Anatha is my reaction to those empty promises, in that I got so tired of people designing systems in which the distribution policy was more or less the same (this is true for the ENTIRE top of the crypto market) that I decided to invest my life and all of my considerable resources into doing things differently.
At Anatha we don’t just talk the talk, we walk the walk.
or put another way, you show me another crypto that gives all of its economic activity back to the end users and Ill invest in that one too.
Mary | Satoshi Club: Anatha Torus system, could you please describe it more specifically?
Anatha One: A torus is a type of system in which inputs create outputs which eventually feed back to the center. In our model that is made manifest by a series of smart contracts, most notably the *master contract* which exists at layer 0 and has very basic rules. *All Anatha that gets sent to this contract distributes 50% back to HRA holders, 25% back to a development fund, and 25% back to anyone holding equity in Anatha the company* This is a far more elegant model than existing crypto systems and ultimately amounts to a positive feedback loop in which our users energy and activity is being sent back to them according the the rules of the master contract.
Id also like to add that we’ve included a governance module that will allow the user base to change any of the parameters of the system, includng the inflation and distribution policy. So if you don’t like our model, you can simply vote to see it changed
Mary | Satoshi Club: Is you governance already working?
Anatha One: yes, albeit we have it turned off until oct 1st 2021 to allow users to onboard into the ecosystem. it is on-chain and visible tho
Mary | Satoshi Club: So, what is the amount of tokens user need to hold to participate in governance?
Anatha One: They simply need 1 Anatha to register an HRA which they can earn in a myriad of ways, including the referral systems I mentioned earlier. yes, we are seeking a wide system, with many voices as we believe that is the best way for collective intelligence to emerge
Mary | Satoshi Club: Refferal system will go live in 1Q 2021, am i right?
Anatha One: yes the first aspect of the referral system is almost ready to deploy now.
Mary | Satoshi Club: Waiting for it:+1:
Q5 from Telegram user @occupyingmars
In the documentation that you provide there is this statement:
“Newly minted tokens are not sold. They are distributed daily.” and the distribution model follows. Can you explain more what do you mean with this statement, because you’ll still need to sell minted tokens, being it directly from the pool of newly minted or after it first reaches the developer’s fund. What’s the difference?
Anatha One: This is in reference to our distribution model powered by the master contract. As new tokens are created they are sent to the master contract which in turn distributes them according to the model I mentioned earlier.
Also, at Anatha we believe in using our rewards token as money so I will be receiving my pay in Anatha in the near future while developing the systems necessary to only “sell” when the person or entity I am doing business with wishes to receive a different form of payment.
Mary | Satoshi Club: Can you explain in simple words. What should i do to receive my pay in Anatha? Simple hold tokens on my wallet is enough?
Anatha One: Well like any unit of account it can be used to store or convey value. The trick is creating an environment in which is makes more sense to stay in one ecosystem vs another. For our part we simply need to outperform traditional fiat currencies in order for our system to be viable and I believe that is a very low bar, as fiat currencies are being managed atrociously.
Looking forward we are also in talks to tie our token to Debit Card systems so you’ll be able to spend our currency anywhere traditional debit card systems are accepted.
Mary | Satoshi Club: Debit Card systems will be amazing:+1:
Anatha One: I believe they will become more and more common place now that we are seeing entities like Kraken get their banking licenses
Mary | Satoshi Club: And how are you with regulations? Is everything ok?:grinning:
Anatha One: We have multiple legal teams looking over our systems on a regular basis and so far so good. That said, the key is to design the systems in such a way that once deployed it doesn’t matter as its being managed by a distributed autonomous network and community that we won’t have direct control over. True crypto is often very far removed from regulatory scrutiny but it requires the team that does the initial deployment to give up control (this is where many systems fail). At Anatha we believe there is great power in giving, as evidenced by all of our designs, therefore control is simply one more thing to give back to our user base and in doing so empowering everything we do collectively.
Q6 from Telegram user @mikolajcek
What’s a self-generating universal basic income and how is it related to your projects? Sorry but it looks like a phrase intended to catch attention and which is not related to you. Or am I wrong?
Anatha One: You are absolutely wrong as what we are describing with that statement is what we have been talking about this entire time, specifically the network of smart contracts that creates the economic torus. Again,I get that the markets have become jaded over time but if you just take the time to look at our actual economic model you’ll discover that we are doing a number of novel and innovative things to create the very outcomes we are talking about.
I understand why people feel these things can’t be done but all I ask is that you give us time to demonstrate exactly how these big problems can be solved.
Mary | Satoshi Club: Yes, i see that there are a lot of questions of thus type. I am glad that you understand why they are asking and sure that time will show the truth:grinning:
Anatha One: Okay running short on time, so we need to push hard in this next section!
Part 2 — live questions from the Telegram community
Q1 from Telegram user @ShaLiPon
How will you connect the long term goals of Project ANATHA within the short term needs of aggressive investors in the crypto space?
Anatha One: This is a great question, one thing to consider is the importance of the growing impact investment community. While the maret is rife with short term thinking more and more we are seeing capital being deployed towards solving very real problems with an eye towards long term thinking.
That said, for any crypto to succeed it simply needs to outperform traditional fiat currency which I believe is a very achievable task. Its not crypto vs crypto, remember, Its Crypto vs fiat and our branding, ethos, and design architecture puts us in a unique position to stake a claim in that fight.
Q2 from Telegram user @Maksyrn
How do the authors of the project’s idea lead their lives?
Anatha One: I am very fortunate in that, being a early crypto adopter, I will never suffer from true economic need ever again. That said, our designs allow for a percentage of all economic activity on our platform to feed back to team that is designing the upgrading the system in real time. So we will be well looked after, I assure you.
Q3 from Telegram user @NoyonBoss3
Why we trust anatha project?
Anatha One: You shouldn’t! You should trust the code itself and see for yourself that these are words are backed by the veracity of the open source code we are pushing into the world.
Q4 from Telegram user @Maksyrn
What is the meaning of life if you remove the material component?
Anatha One: Life has much more meaning once you are free from poverty and structural violence. Life can take on whatever meaning you wish to imbue it with, once you are free from economic slavery.
Q5 from Telegram user @curiosoAMA
Will Anatha only be able to store crypto-currencies? Will it not have the option to store dollars, euros or pounds?
Anatha One: Our system has many stable coins that will be compatible with it. Anything that is in the market will eventually work with our designs, that includes digital representations of traditional fiat currencies.
Q6 from Telegram user @rasel79
Which wallet we use?
Anatha One: The Anatha NEXUS which is our own omni-wallet tool we designed in parallel to our network.
Q7 from Telegram user @OS_ELIN
How ANATHA Project improve user-experience for decentralized applications?
Anatha One: Our user interface design still has a long way to go but ultimately that is the crux of the matter when it comes to user experience. Its something we take very seriously and plan to lead the way towards more readily usable, human focused design that puts the entire industry at your fingertips.
Q8 from Telegram user @OS_ELIN
Do users demands and feedbacks considered in the development of ANATHA ecosystem?If yes,In which ways do you provide this?
Anatha One: Our governance module will let users vote on the design and future development of the project on-chain, in real time. So this is an area we take very seriously as we believe it is the only way for collective intelligence to emerge in our ecosystem. As smart as we might think we are, the community will always have more brain power collectively.
Q9 from Telegram user @Jonathonhars
It’s quite unfortunate that many projects have infiltrated the market with just white papers without having any genuine use cases. What are the main utilities of your coin?
Anatha One: We too lamented this problem which is why we spent years planning and developing our project before we went to market. That said, at launch you can already use Anatha to register an omniversal human readable address that you can use to send/receive any crypto we build into the nexus. So for the first time you will actually just be able to tell someone your crypto address, the same way you can tell someone your email address now.
Q10 from Telegram user @wonderkit
Does Anatha have the same function as HRA or are they related?
Anatha One: The HRA lives on and in secured by the Anatha Network. The HRA is central to all our designs and its something you will see embedded into everything we do.
Q11 from Telegram user @minhquan178
When can users experience ANATHA application on mobile phones? What role does this application play in the Anatha ecosystem?
Anatha One: Mobile is in testing now and we expect to submit them to their respective mobile stores (Android and IOS) before the end of the month.
It will have most of the features of our desktop version and will also allow for in app purchases which is key to making Anatha easily available to end users.
Q12 from Telegram user @jangrihwa
What is the use of a referral system in the Anatha project and does the referral system benefit the Anatha project in what ways?
Anatha One: The referral systems we’ve designed allow users in our ecosystem to both contribute value to the ecosystem (adding users most notably) while also generating value for themselves. We believe these kind of “win/win” relationships are key to the economic design of the future. Like Anathapindika before us it is possible to design large scale systems that benefit everyone, without harming anyone in the process.
Q13 from Telegram user @Brainchest
Tell me if you cooperate with regulators and what to do to a person who is left without documents because of the war. How can he pass KYC? How in such a situation will you fulfill the desire to bring finances to everyone.
Anatha One: We are very anti-KYC as we believe those are the very systems which are creating structural violence globally. While there may be some features (such as a debit card system) which will always require KYC, we will always ensure our core functionality, most importantly inclusion in our economic distribution does not require anyone to have any documentation what so ever.
Q14 from Telegram user @Loversss10
what is the real essence of your project? problems in cryptocurrency or making new investments that haven’t been there before?
Anatha One: We are focused on solving human problems and facilitating human needs. This in turn creates a very viable investment opportunity but that is a side effect of simply doing things the right way in crypto.
Q15 from Telegram user @Tunmiii
Can I stake $ANATHA ?
What are the Staking criteria’s ?
Anatha One: Yes! Staking is very easy and only requires that you have some Anatha to stake and that you be willing to place it in a special savings account that you can access at anytime. It is non-custodial (meaning no one but you will ever be able to control your staked tokens) but its as simple as pushing a button in the Anatha Nexus.
Part 3 — Quiz Results
In the final part we tested your knowledge in terms of Anatha. They’ve prepared 4 questions for this part. The total reward pool for quiz was 1500$.
Anatha Community: https://t.me/projectanatha