Feb 22, 2021
Kalamint x Satoshi CLUB AMA Session 17 feb 2021
PART 1. Introduction of Kalamint project and community questions.
Hello, Ladies and Gentlemen’s. How is your mood today? We hope that it is as good as the project with which we had an AMA session.
Kalamint is the first community-owned public NFT marketplace on Tezos. Create and mint NFTs using the FA2 token standard.
The plan of AMA session:
- Part — Introduction and preselected questions.
- Part — Live questions
- The Quiz about Kalamint
The reward pool is 2000$
Leading the AMA our clever and fun admins:
Andrés M. | Satoshi Club — @AndresM77 and Luis Merino
| Satoshi Club — @LuisMe7
The Representative of the project:
Sandeep Sangli — @sandeepsangli
Introduction of Kalamint project.
Luis Merino
| Satoshi Club:
Hello everyone and welcome to another AMA session with Satoshi Club
Today our guests are from Kalamint, @sandeepsangli, welcome to our community
Andrés M. | Satoshi Club:
Welcome @sandeepsangli happy to have you with us today
Sandeep Sangli:
Thanks, @AndresM77 Happy to be here, And thank you for inviting us.
Andrés M. | Satoshi Club:
How is going your day my friend, something new for this week?
Sandeep Sangli:
It has been quite a crazy February for the team since we are slated to go-live tomorrow
Andrés M. | Satoshi Club:
Yes, I have read about it, are you excited about that? a great event for Kalamint.
Sandeep Sangli:
The team is excited and nervous at the same time
Andrés M. | Satoshi Club:
Haha we wish you the best for tomorrow
Sandeep Sangli:
Thank you, we would definitely need all the good wishes, fingers crossed! You never know what can go wrong with tech sometimes. Especially launch days
Luis Merino
| Satoshi Club:
It will be fine, for sure. I have no doubts
Sandeep Sangli:
Thank you, amen!
Andrés M. | Satoshi Club:
Well, could you tell us more about you and Kalamint project? a short introduction to learn more about you and Kalamint.
Sandeep Sangli:
Sure, I, Sandeep, come to have a technology background. Worked a lot on Data Mining and Natural Language Processing in my early career. In 2014, I came across whitepapers of Ethereum, Tezos, and the other early chains. Really liked what the tech could do in the long run. So shifted my focus completely towards blockchain solutions. For one of our earlier products in 2017, we had forked Lisk, one of the earliest PoS chains.
Luis Merino
| Satoshi Club:
2014! Lucky you
Sandeep Sangli:
Harsha, our Tech Head, has worked extensively on decentralized systems, ranging from decentralized exchanges to trustless bridges. For Kalamint, our vision is to extend what we build on Tezos and branch out to be a truly cross-chain NFT platform that solves the ‘provably unique’ problem of NFTs
Andrés M. | Satoshi Club:
NFT is a hot topic this year with DeFi
Luis Merino
| Satoshi Club:
Indeed
Sandeep Sangli:
I think the DeFi use cases gave the whole community a new way to approach asset classes. So it was a natural progression for NFTs to get the attention they needed. NFTs can go beyond digital art and collectibles and can be extended to traditional sectors like financial contracts, luxury goods, etc. With a custodial service.
So we believe that NFTs as a concept still has a lot of room for growth and innovation
Andrés M. | Satoshi Club:
What assigns the value of the NFTs on your platform? is it se room for growth and innovation
Andrés M. | Satoshi Club: t by users only? I agree with you.
Sandeep Sangli:
Currently, on our platform, users will set their prices when they list.
But there are interesting research topics about using quadratic bonding curves to tokenize NFTs and let the market decide the price based on the supply/demand of the fractions. This is something we may experiment with within the near future
Luis Merino
| Satoshi Club:
Maybe we can start now with part 1 questions? If not, some questions can be covered now, do you agree?
Sandeep Sangli:
Sure.
Luis Merino
| Satoshi Club:
@AndresM77 shoot it!
Preselected questions about the Kalamint DeFi project.
Andrés M. | Satoshi Club:
Question 1 from Telegram user @Mora110
On the Kalamint roadmap you mentioned in Q4 2020> NFT Minting and Marketplace launched on Tezos Testnet. in Q1 2021
NFT Minting and Marketplace launched on Tezos Mainnet, Auctions enabled. So I want to know the advantages of NFT for the Kalamint project and what is the strength of the partnership with Tezos?
Sandeep Sangli:
Thank you for your question Mora110. For Kalamint our focus will be on launching on Tezos and then branching out to be cross chain NFT marketplace in the near term. We are building on Tezos for 2 reasons. 1. Creators can leverage the benefits of extremely low gas fees, so it makes it much more beneficial for both the collector and creator. 2. Tezos is building some great features for smart contracts and inter contract calls that we believe will help us build better products. I hope that answered your question.
Andrés M. | Satoshi Club:
So clear, how is currently the fee on Tezos network?
Sandeep Sangli:
We have seen the gas fees to be around 0.01–0.02 XTZ for minting and transacting. This is equivalent to 4–8 cents (USD)
Luis Merino
| Satoshi Club:
Gas fees are too important. Paying 40$ for each transaction…
Andrés M. | Satoshi Club:
Haha a big difference with ETH. How fast can a creator sell an NFT on your platform? is there an auction system or is it direct purchase?
Sandeep Sangli:
Absolutely. Huge difference. The savings for both creators and collectors is quite a large amount. This makes it much better in terms of the profit they get to keep from the transaction
The process of minting should not take more than 5 minutes and they can immediately list it for either a direct purchase or an auction based on their choice. We have both options.
Luis Merino
| Satoshi Club:
Sounds great!
Sandeep Sangli:
Yes, that makes it difficult for creators to price their work. Because they have to make atleast the gas fees back to breakeven
Andrés M. | Satoshi Club:
Thank you for your answer, are you ready for next question or do you have something to add?
Luis Merino
| Satoshi Club:
You are right
Sandeep Sangli:
I’m ready for the next question, thank you
Andrés M. | Satoshi Club:
Question 2 from Telegram user @Arisabela
One of Kalamint perspectives is having no-dump airdrops, it means that $KALA will only be airdropped to artist and collectors, notwhithstanding how are you going to reward only the ones who prove their worth on your ecosystem? Is there a way to identify and verify real artists?
Sandeep Sangli:
Thank you for your question Arisabela. This is an important topic. We want to ensure to the best of our abilities that the reward system (airdrop) is not misused by bad actors. A few bad actors typically make it much worse for the entire ecosystem. For that reason, we do have a verification process of the artists who will be minting on the platform and we inform the users to use one wallet address to transact on the platform. This helps us distribute the rewards to people who actually used the platform meaningfully. Every user who buys or sells on the platform will be rewarded equally.
Andrés M. | Satoshi Club:
How it consists that verification, with details must creators provide? How much tokens each user? Could you share some numbers?
Sandeep Sangli:
Every week, we will distribute 33,333.33 KALA tokens as Rewards.
More information here: https://kalamint.medium.com/kala-tokenomics-and-distribution-f7acc4970ed1
Luis Merino
| Satoshi Club:
I think this article solves all our doubts. Thanks. Satoshi Club community, go give some claps there
Everyone who buys or sells will be rewarded equally, but, taking into account the trading volume or not?
Andrés M. | Satoshi Club:
It is, It makes more clear this question.
Sandeep Sangli:
Thank you
Our verification process is quite simple with a few questions. Typically we ask them one social media reference, a question about why they would like to transact on Kalamint, we ask 3 samples of their work and any other information they can provide. The verification typically takes 2 days
Luis Merino
| Satoshi Club:
Ready for Q3 now?
Sandeep Sangli:
Sure
Andrés M. | Satoshi Club:
Question 3 from Telegram user @khererra22
Currently the NFT are acquiring an important value in the community and arousing the interest of users for their immense creative value, but, beyond that, users always want to obtain not only entertainment, but also economic benefits. With Kalamint, is it possible in the short or long term to obtain great economic benefits? Or will its ecosystem only be useful for entertainment?
Sandeep Sangli:
Thanks for the question khererra22. The whole NFT movement and the benefits of asset tokenization are just in their infancy. With most early products and use-cases, including DeFi, the ecosystem progresses to find newer and newer benefits/use-cases of a certain platform or product. Think of what we see today in terms of platforms/products as the building blocks or foundation that is being put in place to discover a lot more use-cases and economic models even around NFTs. One of them being price discovery mechanisms for NFTs
Sandeep Sangli:
I hope that answers your question
Andrés M. | Satoshi Club:
I think it is, but what makes Kalamint different from other competitors? I mean, what will be the main benefits to use your plataform?
Sandeep Sangli:
Kalamint as a platform may look very similar to other platforms that are on various blockchains. What sets us apart is the system we have put in place called the NFT Registry. This Registry will be accessible by any other smart contract in the ecosystem to verify if an NFT has already been minted. This is immensely useful to both creators and collectors since they can be sure that the same work has not been minted on another platform. Any other platform within the Tezos ecosystem will be able to read and contribute to the NFT Registry. We will make this cross chain in the near future. We believe that this solves an important problem of proving that an NFT one bought or sold is truly a unique piece
Andrés M. | Satoshi Club:
Congratulations, I really think you have a very strong project and different from the current NFT markets
Sandeep Sangli:
Thank you
Andrés M. | Satoshi Club:
Are you ready for the next question?
Sandeep Sangli:
Sure.
PART 2.Questions about the Kalamint project from the live chat of the telegram community.
In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the Royal crypto project choose the top 15 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 150$.
Q — 1 from a telegram user @meml97
I’ve seen on your twitter that you have been adding a lot of new artist to your platform. Since the opening of application on february 12th, how many have you accepted so far and how many do you plan to have in total? How is the process an artist has to go through with Kalamint in order to be part of the platform? Will you have this application process be forever open or are you planning to close it soon?
Sandeep Sangli:
The applications are forever open and will never be closed. About 50 creators have been accepted so far. The process of applying is very simple with just one form that you have to fill.
Q — 2 from a telegram user @Prendalo
Many new projects made a good impression at first but were suddenly abandoned. My question is, how will you manage the project and token to gain a place in the market and become a best token in the blockchain world? Thx.
Sandeep Sangli:
I think this was mostly the case during 2017 and after. We now see a lot of serious projects with good business models. I am glad that we are seeing real products that people can use now in the blockchain world and not what it used to be.
Q — 3 from a telegram user @BERTA2020
$KALA token is not trading yet, stay away from scam tokens. If your KALA token cannot be traded yet, is there a way to get it? When will it be available for trading and which exchange do you plan to search for listed for it?
Sandeep Sangli:
The users of the platform will earn the tokens as rewards for using the platform. We will eventually be listed on dexter.exchange and other exchanges
Q — 4 from a telegram user @KhaleesiTheCryptoLady
You mentioned that every week, you will distribute 33,333.33 KALA tokens as Rewards, who can receive this? How do you select users? How to take part on this reward distribution?
Sandeep Sangli:
It will be distributed to the people who transacted on the platform. Either by minting or buying. The reward will not depend on the value of the transaction.
Q — 5 from a telegram user @holdergirl
Recently some defi projects are creating multiple blockchain support into the project to get more user. Do you have plans on multiple blockchain?
Sandeep Sangli:
Yes, we do have cross chain support in Q3 in our Roadmap. This will become very important for all projects in 2021
Q — 6 from a telegram user @sirdefi
One of the problems or risks in these platforms where users publish their creations is the risk of plagiarism. How does Kalamint monitor or protect the copyright of each work? Do you have any claim service to report plagiarism?
Sandeep Sangli:
This is the single biggest problem we are trying to solve with the NFT Registry that we have built. Our main technology focus is to help create NFTs that are ‘provably unique’ across blockchain ecosystems.
Q — 7 from a telegram user @alaskasb
Could you explain to me a bit why the $KALA token is still not traded? Why is this and when can it be marketed?
Sandeep Sangli:
We took a platform first approach. Since tokens are rewarded to the users, we have to go-live with the platform before the tokens are traded.
Q — 8 from a telegram user @Guandog
How do you plan to maintain transparency and freedom?
Sandeep Sangli:
The registration is not rigorous. Everyone is welcome to apply. The application has about 5 questions.
Q — 9 from a telegram user @Karoceh
I read that in the future Kalamint will implement DAO. Is this a fully community DAO or do you leave some rights to the team? What are the core decisions that will remain with the team?
Sandeep Sangli:
Yes DAO is important to us, we want to become a full fledged community DAO.
Q -10 from a telegram user @Krisnonagar
Q.In the world cryptocurrency competition, features are of the utmost importance to attract investors and the community! Can you provide a list of killer features that scare your competitors over your project?
Sandeep Sangli:
NFT Registry is the single biggest game changing feature we have to offer. And the best part is that competition can also use it and contribute to it
Q -11 from a telegram user @BJosefina61
Many companies are looking to issue their own NFTs, are you looking at possible partnerships in interested in working side by side with traditional companies?
Sandeep Sangli:
Absolutely!
Q -12 from a telegram user @Abisola1
Is there any specification to the kind of NFT that can be created on kalamint?
Sandeep Sangli:
For version 1, it is Digital Art. We will open up applications for other art forms in the very near future.
Q -13 from a telegram user @topind7
Do you have any user guide for newbies or newcomers on how to get started on your Kalamint?
Sandeep Sangli:
We will put together one soon.
Q -14 from a telegram user @jirencrypto
Are the NFTs developed in Kalamint exportable to other NFT marketplaces? Do they have any limitations as they are from Tezos?
Sandeep Sangli:
For V1, you can mint on Kalamint and use it on other NFT platforms within Tezos. With future versions, we will be able to migrate it to other chains.
Q -15 from a telegram user @Xusuo
Kalamint claim that will have low fees, runs way faster & much better for the environment. Also there’s artist & collectors guild to guide where the platform goes in a fully community focused way. But how about security? Is it safe to do investment with $KALA? Any audit from third party?
Sandeep Sangli:
Yes, there will be an audit of the token contract
Part 3 — Quiz about project
In the final part, we tested the knowledge in terms of the Kalamint project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 1700$ was distributed between the winners.
Our contacts for more details:
English Telegram group | Russian Telegram group | Spanish Telegram group | Telegram Channel | Twitter | Website
Our Crypto Partner by this AMA: Kalamint
Telegram group | Telegram Chanel | Tweeter | Website | Medium
