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Phantom x Satoshi Club AMA Recap from 5th of September

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 Phantom and our guests were @PhantomMr — representatives of Phantom. The AMA took place on the 5th of September.

The total reward pool was 500$ and has been split into 3 parts.

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Website


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

Our guest today is @PhantomMr


Welcome to Satoshi Club


How are you? We are glad to have you here


Great!

It’s good to be here!


And we also to see you here today!

Let’s start our AMA

Could you please introduce yourself and tell us more about Phantom


Sounds good!

Hi all, I am Mr. Phantom, one of the founding members of the Phantom protocol.

I am a veteran in the crypto industry, having been through ups and downs in the industry since 2015. I came from a development and finance background and had worked on various projects including public chains, privacy tokens, cross-border payments, DeFi, NFT and now synthetic assets.


Oh, so if i am also here from 2015 i am veteran

feeling a bit old


The reason that attracted me to create Phantom is that the hope to provide everyone with the chance to access the most profitable and interesting financial instruments out there in the market, be it derivatives, stocks or commodities. Additionally, I had been a collector of NFTs and early engagers on NFT gaming, and it has been my dream to combine defi and NFT together. So now you have Phantom. And I want to tell you more about it today.

Done

Oh sorry.

Also about Phantom

Just saw that part

So Phantom is a cross-chain synthetic asset issuance protocol that enables all DeFi users to participate in multi-market investment in a decentralized manner. Using the Phantom protocol, users can create synthetic assets (pAssets) with collateral on Ethereum, BSC, Conflux, and Heco for exchange or liquidity mining.

pAssets track the price movements of the various physical world or on-chain assets, such as stocks, gold & silver, cryptocurrencies, NFT, etc, allowing investors to trade multi-market assets on a single platform, eliminating the cost and risk of asset transfers.

Phantom’s Conflux mainnet passed code audit by CertiK and was released on August 2, 2021, with a first-day TVL of more than 5 million USD. Its Genesis NFT release was also sold out in 14 minutes.

Ok, now i’m done for sure

@madamlobster


Why do you consider synthetic assets are so profitable?


How long did you work on Phantom before it was launched? Who developed it? I mean — who are in your team


We’ve been working on the project for about 8+ months before it was launched. The team is very diverse.


As i know yes, but we will let Mr.Phantom confirm this


They consist of members from US, Singapore, HK and Vietnam


Yes, a hot topic in the market.


Are you public or anonymous?


We are actually all veterans of the industry, and our combined experiences include project development, investment, and in areas of DeFi, Public Chains, and privacy tokens. Our members; backgrounds are primarily in finance and technology.

We are mostly anonymous, we tend to call each other Phantom 1 Phantom 2, or sometimes Mr. Phantom, like me :)\


And how many Phantoms currently exist?


We have about 10 team members currently, half in development and half in community and business.


Quite big team


Thank you for your intro, mr.Phantom! We choose 6 questions from our community for the first part of our AMA

Are you ready to answer them?


Sure~

Let’s go

Q1 from Telegram User @UplineStephen


Glad to~


Two tokens?

Interesting


Hi, great question! this is a very good usecase.

So let me clarify first!

Phantom has one main token and that is the PHM. we will have IDOs and IEOs in the next several days and its for the PHM!


What are the utilities of each token?


So PHMP was only for a very specific usecase scenario: for buying Genesis NFTs during the launchpool mining campaign in August. During this period, Phantom Protocol offered a few NFTs that lets users get bonus rewards on the PHMs they mined, and these NFTs can only be purchased through a special token called PHMP, which was given to users who mined more than 30000 PHMs during the period.


Could you give us more about upcoming IDOs

how and where users can participate


So in summary:

  1. PHM is the main token of the Phantom Protocol
  2. PHMP is a special kind of token for a special occasion during August of 2021

Certainly

Tomorrow we will host IDO on Pentalaunch and Bounce:

https://phantomdefi.medium.com/phantom-announces-phm-auction-on-pentalaunch-5c54525038b7

https://phantomdefi.medium.com/phantom-protocol-announces-ido-on-bounce-certified-c6202bbdccea

The IDOs are very attractive, with 0.005 U and no lockups.

(similar pricing to private placement, except private placement, has lock-ups

)


How is the mining process? What’s needed?


Then on 9/7 we will have IDOs on Westarter and DODO


Yes, I went through and it seems easy to participate


And on 9/8 we will have our IEO on Gate and MXC

For details on these, follow our Twitter to find the quickest update: https://twitter.com/PhantomDefi


Six

i see that you want to give a chance for everyone


Definitely~


Btw, as i understand mining process already fonished? Am i right?


This mining campaign actually has ended, but you can find all the details on our medium blog: https://phantomdefi.medium.com/


Thanks for clarifying it.


Thank you for your answers, mr. Phantom! Ready to proceed?


Yep

Q2 from Telegram User @ItsMelissa3


Ready

That’s quite a lot of question marks lol. let me answer them one by one.


Sure, take your time

  1. We want to have the token offering through a distributed fashion and have as many people from all platforms to participate, so we picked several different platforms

The token allocation for each platform are mostly in the same range ranging from 50k — 100k, so you if you didn’t get your IDO spot in one platform, don’t worry, there’s another one to go

Most importantly, the prices and lockup terms on ALL platforms are the same: 0.005 u and NO LOCKUP

So feel free to look around, they are very balanced

https://phantomdefi.medium.com/phantom-announces-phm-auction-on-pentalaunch-5c54525038b7

Once again, this is the first one tomorrow

And that you can join our tele to keep tab of the most recent one

https://t.me/PhantomProtocol

All set


Satoshiclubbers

you have a chance

actually a lot of chances


But be sure to check quickly as most of them are first come first served.


Btw, did you have any private sales?


Yes we did.


Is still time to be whitelisted?


Yep, Bounce is still available: https://phantomdefi.medium.com/phantom-protocol-announces-ido-on-bounce-certified-c6202bbdccea


How much was collected? Do that tokens have lock up period?


Let’s join Satoshiclubbers, last call


Yes, almost 3 million. The tokens have a 20% initial release, and then 12 month vesting period. Team tokens are locked up for 1 year then 24-month vesting.


Gotcha! Standart practice

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


Also this whitelist opportunity in this article gives you the biggest allocation, try it out here: https://phantomdefi.medium.com/phantom-protocol-to-launch-public-token-offering-on-7-major-platforms-with-whitelist-airdrop-925d3d492fbe

Yep~

Let’s go.

Q3 from Telegram User @ambbobb


Great question. let me explain

pNFTs are fractional tokens of NFTs that can be collateralized on the Phantom platform. So in essence, it allows you to trade on a popular NFT with lower prices and therefore more chances to profit

The pNFT mechanism can actually be adapted to traditional assets as well so for a large piece of asset you can dice it up into pieces to be traded on the Phantom platform, and each piece’s price movement is directly related to the overall price expectation of the asset.

Yes, pNFTs do have a chance to be “reversed” back — if all of them are collected and burned they can be used to get the actual asset behind it.


So, using this i will be able to buy, let’s say a fraction of EtherRock?


So in essence, if you buy all of the pieces, you get the whole

Yeeeeeeeeeeeeeeeeeep


Exactly!


Interesting concept


I was always interested in the process behind fractionalization

it’s the future of the DeFi+NFT evolution

I believe


Does it mean that before a fraction of some NFT appears on the market this market buys it? And sell fractions after?

Or how it works


Is highly profitable, allowing everyone to be part


It can happen. Initially the faction pieces are traded within the Phantom ecosystem and gradually opened up with other platforms i believe.

Yep, you get another chance to profit on the NFT even if you don’t own it. NFT-derivitive.


As i know we already have some markets where we can buy NFT fractions. Is it possible or may be will be possible in the future that i will buy a fraction on one market and sell on another if it has better price


Yes! that is our expectation. This creates an extremely exciting new market

Just like what you have with the derivatives market.


Then the future is bright

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


Yes, very innovative advance

, like the Satoshi and Bitcoin


Let’s do it

Q4 from Telegram user @Josegamboac


Several things:

We go through audits for our codes. The phantom smart contract has been audited by Certik, and you can find the link on our site

We have a dedicated force committed on enhancing the security of the protocol, and they have been continuously developing the protocol and making it better


Did you ever think about insurance? May be CertikShield?

  1. finally, we engage with the community to get our codes better. during the Testnet phase, we offered over 200 participants prizes for bug hunting. We cherish our community and their help in making Phantom better.


Yep it’s in the consideration as one of the solutions.


You told that your mainnet was audited by Certik, what kind of problems did you find?


Great question.

We have a few findings on the front end level of the protocol, but the essence is strong. The details can be found here on the audit report: https://www.certik.org/projects/phantom


So everything is SAFU right now?


Hahaha, I believe in that

Although our security guys tell me to constantly be aware and upgrade.


Thanks for your answers, let’s proceed with the next question!

Q5 from Telegram user @Jonahapagu


Whoa

Ok let me answer them

Right now USDT and their equivalents on the chain that the Phantom Protocol is based on (for example, cUSDT).

In the future as we expand to other platforms there will be BUSD, USDC and others.

High-quality tokens refer to crypto assets that have an established history of market performance, liquidity, and product evolution. This of course includes BTC, ETH, and other major altcoins

Additionally, we look at latest ones that are promising and consider to add them into our basket.

The link between traditional assets and Phantom assets is price. Basically the price of the traditional assets are anchored in the synthetic asset built on Phantom

Thereby users get a chance to profit on the price changes of said traditional assets.

Finally, we want to say that any asset with a transparent pricing has a chance to be synthetized on Phantom Protocol.


Could you tell us more about the stocks and prediction segment? What stocks can be found there? Tesla, Amazon?


Do you interact with your community? Can they make their proposals? If yes, how?


We plan to have major blue chips on the platform. However currently with the market regulation this may take a while and we are likely to have the commodities to be adopted first

Everyday and all the time. Currently users can proposal through community engagement with CMs

Or email us

We have a team of CMs in the community (you might not see us lol)


Awesome


But we are always looking and collecting


Community is fuel for every project


We will be waiting excitedly for that


Thank you for your answers! Ready for the 6th and last question from this part?


Let’s go.

Q6 from Telegram user @Asela1112


Yes, the Testnet is definitely a place for testing and finding new things.

And definitely, bugs and problems can be found.

Currently, the Trust wallet issue is likely due to its’ not on the chain that we are currently adopted to.

It should be resolved in the future and we are fully adopted

And the problem is noted for sure.


Only he who does nothing is not mistaken

But we can test using Metamask?


Lol


Yep you definitely can.

Part 2 — live questions from the Telegram community

Q1 from Telegram user@Ratash97

We adapt to multiple chains including BSC eth and conflux. The main chains will likely all get our supports

Q2 from Telegram user @Rissky778

Phantom feels fast and anonymous

Q3 from Telegram user @Asat94

Oh yes, check out our medium, this place has the most information about everything Phantom: https://phantomdefi.medium.com/

Q4 from Telegram user @Rakshitx5

  1. NFT snapshot offerings in terms of collectibles and trading cards
  2. NFT gamefi applications
  3. NFT character cards

Q5 from Telegram user @Nonerlike

The previous one has ended, but stay tuned for our upcoming one!

Q6 from Telegram user @Ellen09

Lol we certainly hope so.

Q7 from Telegram user @Nonerlike

USDT, BTC, ETH. Other quality tokens to be announced soon.

Q8 from Telegram user @Saif12123

Yes.

Part 3 — Quiz Results

In the final part, we tested your knowledge in terms of Phantom. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
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/


Phantom Telegram community: https://t.me/PhantomProtocol
Twitter: https://twitter.com/PhantomDefi
Website: https://phm.finance

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