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Satoshi_storyteller

Jul 13, 2021

16 min read

Phuture x Satoshi Club AMA Recap from 5th 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 Phuture and our guests were @Charles and @OliverMehr! The AMA took place on 5 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 community

Hello again, dear Satoshi Club community! We are pleased to announce AMA with Phuture.

Today our guests are @Charles and @OliverMehr!

Great to be here!

Thanks for having us.

How are you doing?

Doing well, thank you.

Doing great. Things are getting exciting here at Phuture!

We are delighted to have you here today.

@Charles and @OliverMehr!

Thanks for joining guys!

You’re welcome

That sounds great

Let’s start!

Introduce yourself please. How did you get to be involved in crypto & Phuture?

Tell us please about your position in Phuture?

Both Oliver and I have worked together for the past 4.5 years. Prior to Phuture we worked in a partnership capacity at a London VC, deploying capital into crypto-enabled businesses since early 2016. We also made some ICO investments, QuantStamp, Havven (Now Synthetix) are some examples.

We have co-invested with the likes of Alibaba, Google Ventures, Kleiner Perkins etc.

Been focused on Phuture for the past 18 months. As I said before, things are getting exciting!

My role is head of product at Phuture, working closely with all facets of the development and design team to refine Phuture with the aim of providing the best web3 indexing experience.

My role is Head of Growth, I spend my time looking at our socials, thinking of growth hacking techniques we can use and everything in between.

Great background, guys

Great, so in a nutshell what is Phuture?

What is the essence of Phuture?

Phuture is a decentralised platform for the creation and investment of passive index strategies.

In a nut shell, Phuture allows anyone to create their own, or invest into an existing passive investment strategy.

Tell us about the benefits of your platform. How is it different from others?

We make it simple for investors to obtain exposure into a sector or an entire asset class.

Phuture has been redesigned from its foundations to scale and as a result this design allows us to turn index creation into an entirely permission-less activity.

Thus, anyone can come to the platform and deploy a passive strategy.

Like staking and farming services?

All indices, where applicable, are optimised by pushing assets to yield optimisers such as yearn. Meaning that index investors benefit from the additional yield, improving index performance.

It’s really important segment of the crypto market!

Also we would like to know about your team. Who is on the project team core?

Further, Phuture leverages a unique rebalancing architecture that aims to improve index performance by rebalancing assets at more advantageous times.

Therefore, we fully expect like for like indices created on Phuture to perform better than our comps

Phuture is redefining the role of an index in a Web 3.0 environment. The idea that anyone or DAO can come to create an index that automatically rebalances and follows a set of rules e.g. top 10 by market cap, is really exciting.

Off-platform yield, as Oliver mentioned, is a game changer. Phuture is one of the first to be doing this in the crypto index sector.

Unlike other projects (not mentioning any names), we are completely product focused. We have spent the time to build something new and not yet seen before

Thanks for the introduction, we will have a question selected for the Part 1. Ready to start?

Well, it sounds so interesting, we have collected some community questions to learn more about your project.

The Phuture protocol manages all rebalancing and reweighting actions.

It is literally set and forget for the user.

Which is perfect for not just a crypto native audience but also a non crypto native one too.

I think this has obvious benefits!

This is key. Crypto needs to take away the complexities. This is what Phuture does for its users.

Mass adoption in action

It’s a great advance for the crypto technology.

We will saturate the existing investors in crypto who are looking for index exposure fairly quickly.

This means that in order to achieve massive growth and scale we need to attract the huge cohort of existing index investors that are looking to attain even a small % of diversified crypto exposure.

The Phuture protocol is built for crypto indices. This focus gives us a huge advantage, having designed and built the protocol from scratch.

Thanks for the clear introduction about the project guys, would you like to add something before the community questions?

We would love to invite everyone to the Phuture Testnet Launch Event — https://phuture-finance.medium.com/phuture-testnet-launch-event-31bd2dd9c4f1?source=———0—————————-

Let’s join Satoshiclubbers.

We are also running a PHTR giveaway — https://gleam.io/c9PRa/phuture-testnet-event-giveaway

A lot of rewards

It’s all about token distribution

Into the right hands!

Thanks for share it with our community, Satoshiclubbers don’t loose this big opportunity

If those rewards weren’t enough, we are also running a staking program… here ->

https://app.phuture.finance/staking

We will have questions from the community on this topic and you will have more to tell about

More incentives will be announced on the 12th of July! Make sure to tune in to the testnet launch event

Let’s proceed

Yeah, whitelisting of assets is key and something the protocol does. On top of this, the community will be able to pre-select indices or newly listed assets that can be incentivised with PHTR

Phuture’s first line of defence is its token whitelist. We leverage tokenlists, an initiative started by Uniswap which allows projects to utilise existing asset lists used by blue chip defi projects such as compound, aave etc. We take these lists and refine them even further for Phuture’s use.

Assets must have sufficient on-chain liquidity

Preferably, they must have a DAO structure with core platform functionality controlled by multi-sig

Reputable teams

Battle tested projects that have stood the test of time.

Appealing to the lindy effect.

The Lindy effect proposes the longer something has survived the longer its remaining life expectancy is.

This is at the core of our asset selection. New assets will be added via community vote

First time hearing about “Lindy effect” concept.

You should join the Phuture Telegram and Discord, we share new concepts and ideas

Do you have any token on plans?

It seems that is an innovative community, of course we will join

We will be launching with 40 assets initially. We will share these assets in due course.

The PHTR is already available to the public and can be found on Uniswap as well as Gate.io

Thanks for the info. Let’s proceed with the next question

Firstly, users can only obtain ePHTR by staking PHTR

Only ePHTR holders can vote via our Snapshot portal.

So ePHTR provides you with voting power

Moreover, ePHTR holders are constantly receiving rewards

in the form of PHTR

So the ePHTR/PHTR exchange rate is always increasing in value.

It will remain dynamic forever

At the moment rewards are coming from the DAO treasury

What are the usecases of each token? ePHTR and PHTR.

In the future, protocol fees will also be distributed to ePHTR holders as well.

ePHTR = governance token and yield bearing variant of PHTR.

PHTR = access to governance token, must be bonded by off-chain solvers to perform core platform functions and will provide access to additional features of the platform in the future.

What is the APR and what is the minimum amount of tokens needed to stake?

Currently ePHTR holders are earning an APY of 30%

no minimum

Wow, a big percentage.

In the upcoming launch event we will be introducing a new liquidity mining program for the PHTR token. Another incentive to buy and hold PHTR

PHTR plays a critical role within the Phuture protocol

agree! the benefit is obvious

Yes, another great reason to Hodl

Thanks for the explanation guys, ready for the next question?

Let’s go

Great question

Firstly, once we take the fee it is transferred to a fee contract.

Next the funds are used to buy back PHTR tokens

We then burn 20% of those tokens.

The remaining 80% is redistributed into ongoing Phuture initiatives such as liquidity mining, marketing, user acquisition, staking, community programs etc

Redemption fee is taken in PHTR for redeeming an index

Yield fee is taken from the yield we generate in off platform locations like yearn.

AUM fee is an ongoing fee we take on the total assets held in the system.

All fees are reinvested back into the ecosystem or distributed back to token holders.

The PHTR token contract has the ability mint additional tokens. Before any new tokens are minted a thorough governance proposal and vote would need to be conducted.

A max of 20mm PHTR can be minted at once. Although we are not expecting to have to mint more tokens.

The reason we included the option to mint more is to ensure that should we need to continue incentivising the ecosystem, we have the ability to do so.

I think other projects can run into issues with a hard cap where their ecosystem is not at the stage where it is self sustainable and they dont have the ability to mint additional tokens to incentivise growth.

We wanted to avoid that situation happening to us./

Clear explanation, thank you

Btw, how can you assure that user’s funds will be safe? Have you done audits?

We are having our contract code audited by Quantstamp.

The CEO of QuantStamp is an investor in Phuture. Who knows, maybe there will be a QuantStamp index soon?

Congratulations, that’s a recognized brand

Who knows?

But this is definitely a good sign!

Of course will be a great deal

Let’s proceed with the 4th question, time to know about the great event coming

Partially covered

But I’m sure the guests have something to add or clarify on this issue.

Great question. We want to keep the event special and save the announcements. What I can say is, expect something exciting not only from the testnet but the liquidity mining program.

We are really excited to see how the community reacts to the simplicity and elegance of the Phuture protocol.

As for giveaways, we are running one to celebrate the upcoming event. Check it out here — https://gleam.io/c9PRa/phuture-testnet-event-giveaway

How many tokens to distribute there?

Indeed! what you do is a unique quality product

Next steps will be to continue growing the Phuture ecosystem, launch mainnet and scale as we find product market fit. The Phuture DAO controls 51% of the current token supply. We are excited to continue building out the core community contributors who help enable Phuture and it’s growth

The giveaway is looking to distribute $4k+ in PHTR tokens. Make sure to complete all tasks

Great opportunity for our community before the coming pump I think

Alpha leak!

Thanks for the clarification, let’s proceed with the next question, we are near to the end of this part of the AMA.

One of the events is the giveaway, Satoshiclubbers https://gleam.io/c9PRa/phuture-testnet-event-giveaway

Testnet launch event will be taking place on the 12th of July. We will be doing a live demo and running through the testnet, which we will release shortly after.

We most likely run a bug campaign after launch. Details on this are still to be decided.

Once our testnet goes live everyone is welcome to try out the platform. We will continue to add functionality to the testnet and will be looking for user feedback.

The preparation consists of rigorous testing and re-testing. Not to mention letting the good folks in crypto know what’s happening! Spread the word.

Don’t forget to share with us the results of the launch, we are excited for that

Absolutely!

thanks for sharing

Now we have the last question of this part of the AMA.

Snapshot will be ready for the mainnet launch date, which is not yet set. It’s already implemented in Phuture. Technically we could use it today.

Absolutely, we are excited to be bringing our community gas-less voting

We believe this removes one of the key barriers to entry for users looking to participate in governance

Yes, this is a landmark event

That will increase mass adoption, great job for part of your team, you have a great project in hands

Well, that makes 6/6 questions answered, thank you so much for your time and clear answers guys.

Now is time to receive a ton of questions from the Satoshiclubbers

. We will open the chat and you should choose your 10 favorites questions to answer, ready to go?

Part 2 — live questions from the Telegram community

ePHTR ensures that users who vote are tangibly connected to the protocol. This ensures that users who are voting and submitting proposals are more aligned with the protocol and thus incentivised to make better decisions.

Ethereum has a phenomenal user base which Phuture intends on working with.

Our vision is to become the de facto index provider on all protocols and chains. Building out our brand on Ethereum will allow us to dominate on the newer chains emerging.

BSC, Solana, Polkadot are all places Phuture will grow into.

I personally see now as a great time to accumulate PHTR. How can you not have exposure to a crypto index provider at the protocol level?

Our focus has been on the product. Once the testnet is live, we will begin looking at new incentives to help distribute and grow the amount of PHTR holders, which helps the Phuture ecosystem.

Right now, you can buy on Uniswap or Gate.

Absolutely, Phuture is the first to bring on-chain and off-chain dynamics to crypto indexing. Our architecture enables us to support permission-less index creation, better rebalancing performance, easier multichain support, deep index liquidity from day 1 and a non constrained design that provides scope for leveraged indices, yield optimisation and more in the future.

Absolutely, we expect Phuture to eventually list 100s of assets. Each new group of assets will vetted and only added to the protocol after a vote has been passed.

Product. Community. Growth.

Join now:

https://t.me/phuture_group

https://discord.com/invite/frRD3Ck

We put a lot of value on productive partnerships. Phuture utilises a lot of other decentralised protocols and as such, the opportunity for us to partner with these protocols exists. We are power users in some of these protocols and actively exploring how we can collaborate more closely. F or example, we use 0x API, keep3r network, yearn and uniswap. Just to name a few.

When you stake your PHTR, you receive ePHTR, this is what’s used for governance.

The Phuture community can propose new ideas, vote on others, and have their voice heard.

Allocation of capital will be the benefit the overall ecosystem. If it doesn’t make sense for all, the proposal won’t likely pass.

Official Contract address (please always check as there are scammers out there): 0xE1Fc4455f62a6E89476f1072530C20CF1A0622dA

We are NOT yet on BSC or pancake swap.

Pair address: https://app.uniswap.org/#/add/v2/ETH/0xE1Fc4455f62a6E89476f1072530C20CF1A0622dA

Make sure to keep an eye on the medium for the latest updates RE the token:

https://phuture-finance.medium.com/

Telegram is a great place as well — https://t.me/phuture_group

If you want alpha leak. Check out our Gitbook — https://docs.phuture.finance/

Solvers are the backbone of the Phuture protocol. They perform platform critical functions including rebalancing and reweighting. In order to become a solver you must bond an amount of PHTR tokens. Once you have bonded these tokens your address will be whitelisted to perform these functions. Each function that the solver executes will be rewarded with KP3R credits. These credits will be worth more than the cost of executing the function and results in positive expected value for the solvers.

If solvers act maliciously they will be slashed. The platform ensures that it always has more slashable value from the solvers than the solvers have access to from the protocol’s funds.

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.

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/

Chinese Telegram group: https://t.me/satoshi_club_cn/

Indonesian Telegram group: https://t.me/satoshi_club_indonesia/

Telegram Channel: https://t.me/satoshi_club_channel/

Twitter: https://twitter.com/realsatoshiclub/

Website: https://esatoshi.club/

Telegram: https://t.me/phuture_group

Twitter: https://twitter.com/Phuturedao

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Satoshi_storyteller

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Storyteller for Telegram community @satoshi_club

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