Satoshi Club
Published in

Satoshi Club

Dappy x Satoshi Club AMA Recap from the 6th of July

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 Dappy . The AMA took place on the 6th of July.

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&WebSite

Mary | Satoshi Club

Hello Satoshi Club! We are happy to announce our AMA session with Dappy! Welcome to Satoshi Club

Pavel P

Hello everyone and welcome to our AMA with Dappy!

Let us welcome our guests

Mary | Satoshi Club

@Misterwiggles1332, @LockerHider welcome to Satoshi Club

Pavel P

today is a KISS day, by the way

Ok, Brady is here!

brady

Hey thanks for invite , BTW finn can’t write down the answers for the picked answers

Mary | Satoshi Club

Hello and welcome here

Pavel P

We have picked 6 questions for the first part and will post them here for you to answer

Mary | Satoshi Club

@DeliciousTuna you can write now

[DEV] Delicious Tuna

Hi, thanks! Thanks for having us

Pavel P

But let’s start with the introduction first!

[DEV] Delicious Tuna

Hi everybody wlecome to our AMA

I’m Finn, the dev for Dappy protocol

brady

I’m brady marketing of dappy protocal

Mary | Satoshi Club

How did you get involved into crypto?

Mary | Satoshi Club

Marketing is a key to success

What is Dappy? Could you tell us more about your project and about it’s main goals?

[DEV] Delicious Tuna

My background is in game design and web design. I started investing in blockchain years ago and totally fell in love with this space when I realised how cool this technology really is and thought about all the problems it can solve. That’s when I started making my own crypto projects!

Dappy is the first ever protocol that allows users to create their own dapps. User-owned dapps, called dappy pools (or dappies for short), are hosted on a single secure contract, ensuring that every pool does what it says it will do. Dappy pools are smart and sustainable, offering a viable place to park your crypto for the long term.

Mary | Satoshi Club

Nice way to be involved

Wow, it’s interesting! When did you get this idea? What inspired founders to create such a project?

[DEV] Delicious Tuna

Listing to our communities’ wishes and feedback is what inspired us to build Dappy. A lot of people wanted to be able to build their own dapp but they didn’t know how, so we made it really easy for anybody to do that!

Our goal is to empower people by giving them the tools to create whatever they want, without having to learn a lot of technical things like how to write a smart contract and build a website

Pavel P

How many people are currently working on Dappy?

[DEV] Delicious Tuna

There’s about 6 of us in the core team, and 8–10 in the wider circle of supporters who believe in Dappy and help us to make it more awesome!

Pavel P

Pretty sure that’s a dream team building a dream product!

Mary | Satoshi Club

Cool! You can do a lot together

[DEV] Delicious Tuna

Yes, we have people with a lot of expertise in many different fields working together to create Dappy.

Mary | Satoshi Club

Thank you for your introduction, guys! We choose 6 questions from our community for the first part of our AMA

Ready to answer them?

[DEV] Delicious Tuna

Yes, we are ready.

Pavel P

Q1 from Telegram user @MudaraSilva

This question is regarding creating a pool on Dappy. I read that Dappy has already written the code for me and all I have to do is set the parameters and add a short description for my pool. Does it mean that users can create pools on Dappy without any basic knowledge? When setting parameters, can I decide and implement the hedge ratio, the rewards rate, and the owner fee? Do I need to submit the rates for the approval of Dappy team? I noticed that pool owners are allowed to use the admin panel to monitor investors’ pooled funds. There is also a community for pool owners. Should I pay an extra fee for those features?

[DEV] Delicious Tuna

That’s right! To create your own pool on Dappy, all you have to do is go to https://dappy.directory/blueprint and choose your title, description and pool parameters. You don’t need to write any code or make a website, we’ve already done that for you! It costs 6.6 BNB to publish a pool on Dappy, and you do not need to submit anything for approval. It’s completely automatic and permissionless.

Davey Jones 🚫 Wont Answer DM 🚫

1, yes creating a dappy has been setup so that a person does not have to have any knowledge of how to code

2. No you don’t have to submit your rates for approval,

Davey Jones 🚫 Wont Answer DM 🚫

Sorry I’m slow

Mary | Satoshi Club

How many pools were already created?

Davey Jones 🚫 Wont Answer DM 🚫

9 pools have been created so far

Pavel P

Great! So users can already benefit from using them

Mary | Satoshi Club

Not bad! Do you have stats on profit/loss that pools have got?

[DEV] Delicious Tuna

It’s a bit too early for that, as more of our pools have just started very recently. Soon, when we have more data, we will be adding performance metrics to the site so that investors can see with full transparency which pools are performing the best!

Mary | Satoshi Club

Gotcha

Thank you for your answers! Ready to proceed?

[DEV] Delicious Tuna

I’m ready for the next question

Pavel P

Q2 from Telegram user @MendietaCrypto

When you say that Dappy is for investors you also mention that Dappy makes it easy for anybody to invest. People can browse your directory of user-owned investment pools using filters to help them find the pool that’s right for them. Could you talk about the process of creating an investment pool from security perspective? Will all the pools be rated to help users find the best ones? How do you protect users against fake or scam investing pools? Thanks!

[DEV] Delicious Tuna

Dappy is the first ever protocol that allows users to create their own dapps. User-owned dapps, called dappy pools (or dappies for short), are hosted on a single secure contract, ensuring that every pool does what it says it will do. That’s the beauty of smart contracts!

Yes, the pools will all be rated to help you find the best ones. We are also working on features to verify pools via pool owners KYC as well as studying each pool’s performance metrics to ensure they are meeting investor’s expectations

Mary | Satoshi Club

What about security audit?

[DEV] Delicious Tuna

Dappy is not yet audited, so please do your own research and only invest what you afford to lose! We are currently working with our partners to find a better way to do a security audit, as the firms that offer this service are not always reliable and we would rather do it our way.

Davey Jones 🚫 Wont Answer DM 🚫

Also I would like to shine a light on the hedged percentage of each dappy ensures that at any point in time ×% will remain in the contract for investors to withdraw

(Hedged percentages vary between dappy pools)

Pavel P

Got it. You are right here with advising users to always do their own researches before investing

[DEV] Delicious Tuna

Yield Nodes is a really good example of this. They have a bespoke audit solution that works for them, we might do something similar. But it takes time to prepare!

Pavel P

Sure. Better wait but to make it secure.

Thank you for your answers!

Ready to proceed?

[DEV] Delicious Tuna

Sure!

Pavel P

Q3 from Telegram user @Lestmarisv13

Owning your own group on Dappy is one of the best ways to monetize your followers and improve your social impact. It’s a great way to give back to the people who made you what you are while growing your own balance sheet with consistent income from deposit fees. What are the benefits that Dappy offers to influencers? Why should influencers join a platform like Dappy? Does it allow to monetize followers? How is the process of monetizing followers in Dappy?

[DEV] Delicious Tuna

So far we have had two big youtubers make their own pools on Dappy. Youtubers can promote their own pools in their own communities and bring in a lot of investors that way. Pool owners earn a deposit fee from every investor, that’s how they are able to monetize their followers. It’s a WIN-WIN situation for both pool owners who earn from fees and investors who earn from daily rewards.

Davey Jones 🚫 Wont Answer DM 🚫

Influencers may be able to use owning a dappy as a way “monetize their followers” by becoming a pool owner and earning the deposit fee from followes

brady

Plus that way youtubers also build even more trust for their channel

Mary | Satoshi Club

You find a creative way

Can you name YouTubers who already created pools?

[DEV] Delicious Tuna

I can do better than that!

[DEV] Delicious Tuna

Mary | Satoshi Club

Sure!

[DEV] Delicious Tuna

These two are the biggest, and we have 2 more from guys who are just starting out and using Dappy to grow. It’s an excellent way to collaborate with us!

Pavel P

SatoshiClub members can already watch great Dappy tutorials

Mary | Satoshi Club

Good job, guys!

[DEV] Delicious Tuna

Satoshi Club could make their own pool on Dappy!

it would be interesting to see how your community can benefit from that

Mary | Satoshi Club

For sure!

Thank you for your answers! Ready to jump to the next question?

[DEV] Delicious Tuna

Sure!

Pavel P

Q4 from Telegram User @UniqueVicky

In order to maximize earning potential, you said compounding daily is highly recommended.there is the 6:1, 3:1 and hoarding strategies or patterns of compounding. Can you please elaborate on these three compounding strategies and how they work? Which among the three is highly recommended and more advantageous and which is not recommended? Just as we compound daily, can we also withdraw our available rewards daily? If no, then what is the best time or period to withdraw? How many times can we withdraw our rewards in a day and week? Is there any penalty to who violate the withdrawal rules?

[DEV] Delicious Tuna

Nothing beats daily compounding in terms of raw earning power. However, if you wish to gradually withdraw while still benefiting from the awesome power of compound interest, then using a 6:1 pattern is the best thing to do. You can read more about investment strategies and penalties in our docs

Strategies

https://dappy.gitbook.io/docs/using-dappy/strategies

Penalties

https://dappy.gitbook.io/docs/using-dappy/penalties

Mary | Satoshi Club

Is it early to ask if someone tried to violate the rules?

[DEV] Delicious Tuna

They can try!

Mary | Satoshi Club

Ahaha

[DEV] Delicious Tuna

Our smart contract is secured by BNB Chain’s low-cost, high-speed network, making it totally impenetrable!

Mary | Satoshi Club

Thank you for your answers guys! Ready to proceed?

[DEV] Delicious Tuna

We also offer a bug bounty program so if any bug are found you can report them to use and you will receive a cash reward

Mary | Satoshi Club

Wow! Let’s try!

[DEV] Delicious Tuna

First can I ask you how would you personally invest on Dappy? Would you use a 6:1 pattern, or maybe be more aggressive with a 3:1?

Mary | Satoshi Club

I am not supporter of aggressive strategy 6:1

[DEV] Delicious Tuna

Nice one! Me too, I will 6:1 for sure

Mary | Satoshi Club

But i feel that some degens prefer 3:1

It’s time to cut risks, on my opinion

Pavel P

Wait some months before becoming aggresive on trading

[DEV] Delicious Tuna

Yes, and that’s another reason why we made Dappy. It’s a much safer option for investors.

Pavel P

Indeed, just pick a right strategy and start earning

[DEV] Delicious Tuna

BNB is a blue chip coin that you can hold through bull AND bear markets. So why not invest your BNB in Dappy to earn more BNB while you wait for the markets to recover?

Mary | Satoshi Club

Logically

Pavel P

With this advice let’s proceed to the question nr 5!

Pavel P

Q5 from Telegram User @Highpee

You said Dappy is created by an anonymous team of veteran investors and developers, but your project is based on experimental technology. You said that users should be wary of associated risks while using your platform. Why do the team decided to remain anonymous and how can users be sure of their competency? And since you said the project is based on an experimental technology, don’t you think it is necessary to launch series of closed and open testing to ensure that the principles upon which Dappy is based are tested worthy before they are released to others? What are the risks associated with using your investment pools that users should understand, and what effort are you putting in place to ensure that these risks do not turn into threat for ecosystem users?

[DEV] Delicious Tuna

Our team has decided to remain anonymous because that is the way that blockchain tech is fundamentally designed to function. Always trust the code, never the team. Why do you think Satoshi Nakomoto (the creator of Bitcoin) chose to remain anonymous? Because it protects your creation! A man can fall but an idea is much harder to kill!

Dappy’s code has been thoroughly tested, don’t worry about that. An immutable smart contract will do what it says it will do, forever! That’s the beauty and the core philosophy of blockchain and the reason smart contracts work. Anonymity also protects us from abuse and protects our users and investors by making it harder to target our admins with personalized phishing attacks.

You can learn more about the risks by reading “What are the risks” in our FAQ

https://dappy.gitbook.io/docs/basics/faq

Mary | Satoshi Club

I understand your decision guys! Hope your project will succeed and we will wait for audit from you

And just one last question left from this part!

Mary | Satoshi Club

Ready for it?

[DEV] Delicious Tuna

Alright, let’s do it!

Pavel P

Q6 from Telegram user @Asela1112

Dappy protocol is consisted with two Penalties called overdraw penalty & Hoarding penalty. Actually, I would like to know more about these kind of penalties. What the main differences between these two Penalties? How will these penalties involve within Dappy ecosystem & Governance module? In which way will the both penalties affect on user daily rewards & incurred reduction fees? Please explain us about the importance of this penalty system within Dappy platform?

[DEV] Delicious Tuna

Dappy pools will dynamically adjust each investor’s daily rewards rate to encourage cooperative behaviour and maintain a healthy debt-to-growth ratio. This prevents any one investor (or whales) from drawing too much money out of the protocol too quickly. In this way, user-operated pools can thrive without intervention for as long as revenue flows.

The way the penalty system works is quite technical and I recommend you read through the docs to fully understand how it works BEFORE investing

https://dappy.gitbook.io/docs/using-dappy/penalties

Fundamentally, the penalty system is designed to protect investors by ensuring that daily rewards are withdrawn at a sustainable rate. Sustainable rewards + verifiable revenue streams means = pool balances that can continue to grow forever.

That means you can go on earning forever!

Mary | Satoshi Club

We would like to ask you guys to share your social media with our community before live part of our AMA will start

And we will never miss any updates from Dappy

[DEV] Delicious Tuna

Telegram

https://t.me/+rOhHI81Y1IRjNzY8

https://discord.gg/8KBgkjR3pW

Mary | Satoshi Club

Thank you for this great first part and detailed answers

Pavel P

SatoshiClubbers, do not forget to join Dappy for great earning possibilities!

Mary | Satoshi Club

But i know that our community is waiting with their questions for the live part

Pavel P

Get ready for some action now!

We will open chat for 120 sec only

Once we close it back, please choose 10 questions to answer

Please do not answer any questions during the storm

Are you ready?

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Choosely94

What possible distinction could there possibly be between the Pool that we established and the Pool that your platform provides to its users?

[DEV] Delicious Tuna

The Genesis Pool is our flagship pool, run by Dappy’s founders and core team. All pools are created equal and behind the scenes they all work exactly the same way. However there is one small advantage for investing in the Genesis Pool — it’s revenue is supplemented from fees taken on deposits into ALL other pools

Q2 from Telegram user @ItsElvisFord

Do you have some educational videos for newbies who they don’t have any knowledge about using or creating pools ?

[DEV] Delicious Tuna

Yes! We have some really informative videos about Dappy made by some amazing YouTubers. Take a look at these 3 to start:

Andrew Collier
https://www.youtube.com/watch?v=xU0EWbH2u3g

Defi Dude
https://www.youtube.com/watch?v=m9Vwt5KMWzc

Defi Club
https://www.youtube.com/watch?v=g1lezn0S9Vc

Q3 from Telegram user @NAZMP2

How can you advertise Dappy pools as safe venues for long-term investments if it allows anyone to construct their own pools while still guaranteeing their security?

[DEV] Delicious Tuna

The reason we can guarantee relative safety for investors is that all pools have the same limitations when it comes to how pool owners can set the pool parameters. There is a maximum daily rewards amount of 5% and the minimum hedge ratio is 51%. These limitations, together with the penalty system for increasing sustainability, ensure that user-operated pools can thrive without intervention for as long as revenue flows.

Of course, ultimately it’s up to the pool owners to use the pooled funds to generate revenue. Without revenue, the pool balance could eventually drain to 0, so make sure to DYOR and know what you’re getting into BEFORE investing.

Q4 from Telegram user @LobaPox

Do The pools on Dappy have Fixxed APY or they are flexible due to increasing the amount of stakers ?

[DEV] Delicious Tuna

Dappy Pools have a fixed base APY (or daily rate). However, each investor’s daily rewards may vary because of the penalty system. The penalty system makes the protocol more fair, and is in place to protect investors by ensuring that pool rewards remain sustainable for the long-term.

Q5 from Telegram user @Zohaya

Is it required to join a group in order to invest? What is the required minimum investment? What strategies and resources do you provide investors so they can truly generate revenue through Dappy?

[DEV] Delicious Tuna

It is not required to join a group to be able to invest in a pool on Dappy. The minimum investment is very low, at around $0.30. We want to make Dappy accessible and easy to use for EVERYBODY

For pool owners, there are dedicated rooms in our discord channel to discuss and improve upon investment strategies. Our community is very collaborative, with many ideas and a lot of energy! This is what will keep us strong as we grow and move forward TOGETHER

Q6 from Telegram user @Savitasapra3

From Creator’s perspective, If New Crypto project create Dapp on Dappy can they expect further contribution from your side like investment, Advice, etc?

[DEV] Delicious Tuna

Yes! Pool owners/creators are invited to join us in our Discord channel where we will assign you the special role of Pool Owner so that you can access the Pool Owner’s lounge and other private areas. We have a lot of members who are experts in crypto and DEFI who are happy to support you with advice and investment strategies. It’s a great place to learn empower yourself to go further!

Q7 from Telegram user @Tyron01

IS this project only for elite investors? How about others who has small fund. Is it open to everyone?

[DEV] Delicious Tuna

Dappy makes it easy for ANYBODY to invest. The minimum investment is about $0.30 and the maximum investment is $1000

Q8 from Telegram user @jirencrypto

Can the owner change the rules of his investment fund at a later date? If so, how can we opt out if we consider that the new rules may affect us?

[DEV] Delicious Tuna

Pool owners cannot change the pool parameters once the pool has been published. In this way investors can rest assured that pools will continue to function as advertised for as long as pool revenue continues to flow. To opt out of a pool, you would simply stop compounding your daily rewards, by choosing instead to withdraw them.

Q9 from Telegram user @JaviSuBs

How many Dapp groups can be created in Dappy? there is some limit?

[DEV] Delicious Tuna

There is NO LIMIT to the number of dapps (or dappy pools as we call them) that can be created with Dappy. We will continue to empower our community as we grow together and we look forward to seeing more and more interesting and unique use cases for the Dappy protocol beyond DEFI!

For example, why not use Dappy to raise funds for a charity you care about? or gather seed funding to start a business? The only limit to what you can achieve is your own imagination

Q10 from Telegram user @jhara12

What is your guiding principle or mootto in life? what make you decide to put up this project?

[DEV] Delicious Tuna

Our guiding principles are FAIRNESS and SUSTAINABILITY. We embrace technology as a force for social change. Using the incredible power of blockchain, we set out to empower our communities. Dappy brings that same power to everybody, and makes it easier than ever to earn passive income from your crypto.

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.

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club/
Russian Telegram group: https://t.me/satoshi_club_ru/
Spanish Telegram group: https://t.me/satoshi_club_spanish/
Telegram Channel: https://t.me/satoshi_club_channel/
Twitter: https://twitter.com/realsatoshiclub/
Website: https://esatoshi.club/

Our partners:
Telegram –https://t.me/+rOhHI81Y1IRjNzY8
WebSite — dappy.directory

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Satoshi_storyteller

Satoshi_storyteller

Storyteller for Telegram community @satoshi_club