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Rizen Coin x SatoshiClub AMA from 22 December

2020 has brought us many new projects worth exploring and Satoshi Club is helping you to do that. And today we would like to tell you about the AMA session with our friends from Rizen Coin. The AMA took place on December 22 and our guests were Rizen Coin and Dani Rizen.

The total reward pool was 500$ 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

Hello, Satoshi Club! We are happy to announce our AMA session with Rizen Coin! @Rizencoin @RichardJoe7 @DaniRizen welcome to Satoshi Club:grinning:

@Rizencoin @RichardJoe7 @DaniRizen what’s up guys!

Hi, thanks for giving the platform to represent our Rizen Project. I am fine. What’s up everyone.

welcome! good to see you here

Hello guys

ready to start our AMA?

Can you introduce yourself :grinning: and tell us how did you start with Rizen Coin?)

I am a core contributor of Rizen coin project. Currently busy with project development. We have come with a unique mechanism which balance the supply and price. Also, our unique product is Rizen swap.

Next please :fire::fire:

Got it) as i see you started Rizen Coin project in the 1 quarter of 2020, right?)

Yes.

Where did the name Rizen come from?

Rizen name came from verb Rise. We used this word to represent the word pump.

And after one year of development which features do you gave already working?:grinning: I see, that you have Mobile Wallet, Staking, Farming, Rizen Swap, Borrow, Insurance

At the very beginning we have developed the staking features. And then farming. Currently we are developing Rizen Swap.

Our Achievements within few weeks
Staking Live
Token Contract AuditedNew Website
Probit confirmed
Hotbit listed
(RZN/USDT , RZN/ETH)
Whitepaper releases
New Dashboard
Farming Live (contract audited)
Farming Tutorial
Uniswap listed
Liquidity Locked ( 6 months)Token Burned
Live Price Tool
Livecoinwatch
Coingecko
Coinmarketcap
More Marketing coming
Rizen swap coming soon
Check roadmap for more details.

Rizen swap:( hints)
Low sllipage
nearly 0% fee
lifetime reward for rzn holders.
Decentralized Governance.

Our local groups:
https://t.me/rizencoin_vn
https://t.me/rizencoinfrance

Nice achievements! Just few weeks!

Rizen swap is already live? or in the development?

Did you already tested it? I mean Rizen Swap?)

Not yet. We have come up with the idea nearly zero fee for swap. So. That’s a huge task develop the platform. But yes, we will develop existing uniswap repo.

How is your liquidity locked?) Did you use third party services?)

https://v2.unicrypt.network/pair/0xE636601C64C27Cf71e7EE03741bff84Bff9465e0 Locked prove by unicrypt:+1:

Yes. We used unicrypt

Did you plan testing phases? Who will be able to participate in testing?)

Yes. With our community. Next year we will release the test version.

Q1 from Telegram user @sirdefi

https://esatoshi.club/wp-content/uploads/p1-30.jpeg

Hm, i see 4159 RZN

Actually we started with 10 k supply. But community requested to reduce it. Then we decided to make it 5k. And then we again burned 850 token. So, now the supply is 4159. There are also 1% token burn in every reward withdrawal.

5000–850 = 4150:joy: We still have 9 tokens)

There is also 1% weekly reward which can only be minted by rizen holder. So, we tested it one time. That’s why there is 10 more. But currently we disabled it.

https://esatoshi.club/wp-content/uploads/p2-16-489x1024.jpeg

Did you have community voting? How was it organized?)

Yes. By voting.

why the community decided reduce the total supply?

They like to have low supply. :rocket:

Yes, it’s very popular now)

Q2 from Telegram user @Gutike95

Nice question :+1:

Yes. I also afraid of the word volatility. It’s really hard to avoid volatility in cryptocurrency. But we can apply various method or mechanism to control it. Rizen has a unique mechanism to control it in a range.
For example:
We have a staking feature which lock your token forever and give you lifetime passive reward from every transaction. So, the locked token try to increase the value of rzn token.
On the other hand, rzn max supply is 5k. There is also 1% Rzn inflation weekly for rizen holders which also increase the supply but limited to 5k.
More details have provided in our white paper.

Is this staking feature already live?

Yes. Almost 600 token has locked

But what about swap? Will it help to reduce rates to 0?

Swap is different. We will explain later in our rizen swap white paper. It’s very complex to explain here.

so you will have a separate white paper, which would be discribe swap mechanics?:blush:

Yes. It’s on the way. And also it will be audited.

Q3 from Telegram user @PaulMonte20

There are many projects with rebase system mechanism. AMPl is a great example. But if you look clearly it can be manipulated. Since, the rebase target the price. So, any whale can do this to manipulate the price.
Volatility of price depends on demand and supply. So. Here rizen mechanism with demand and supply.

We have a more detailed article on this topic in our white paper

But can you name us a project with similar mechanism or yours are unique and never been used before?

I haven’t seen any project before like us. But yes, there will be some similarities.

Whith which project?

No One Defi Project gives You Lifetime Rewards Without Rizencoin for stake:fire:

See, there are lots of projects out there. Most of them based on deflationary/ inflationary or rebase mechanism.
Here we are both deflationary and inflationary but with Max supply with 5k rzn.

Q4 from Telegram user @Jonahapagu

First of all, staking will give stakers 1% tax which comes from every transactions. There is no such function to reduce the tax in our smart contract. So, 1% tax is permanent.
To generate more rewards for stakers we need more trading activity and products. For example:
once we have our swap platform live. Stakers will get juicy rewards from every transactions. So, the more products, the more usecase and rewards.

If all coins will be locked forever?)

There is always coins will be in circulation. The more time will pass, the harder it will be to stake. So, the early stakers will have always good profit. Also, don’t forget that we have 1% inflation weekly based on your holding amount in your wallet. This will help to maintain the supply.

Q5 from Telegram user @yellowchamp

Honestly, we have it in our plan. But still didn’t dig it up in details. Our focus is in Rizen swap now.

When you plan to implement it?

In the last quarter of the next year. Step by step we will proceed. Yfdai is a great example I think. :rocket:

by the way guys, i see you have a github icon on your site but seems it’s not working. i can get to the github through the link

Yes. You are right. To avoid cloning of our project , we haven’t published any repo there in live. But we have another Github account where you will get some info. We need to update our github link from every source.

Can you share it with us?)

https://rizentoken.github.io/rizendashboard/dashboard/index.html

Q6 from Telegram user @KeymerS

Yes. We are fully audited. But as you know we can’t give guarantee that there won’t be any issue in future. That’s why it is important to take your own risk before join in any project.

I think author reffer to this)

No one. Because security is provided by Ethereum smart contract. So, if Ethreum Blockchain die, everything die. Buying RZN is entirely at your own risk and Rizen Coin is never liable for any losses that may occur when using RZN and our user interface. Please never supply assets you can’t afford to lose and consider that nothing on our site, RZN or any other communication channels covers investment advice. Right?

Yes. I hate bugs though.

I want to ask, if you’re planning to give insurance services may be you can give insurance for this accident?) In the future?

Ha ha. Will see it if possible. :heart_eyes:

You were audited by TechRate and they didn’t find nothing) according to your audit report) Is it really possible?)

No, they found some issue in our previous contract. And then we made correction. And then again did the audit.

Oh:joy: now i see how) thank you :+1:

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Spott

Uniswap is the best dex and very popular. I even like it most. But if you see currently we are facing some issues there. So, our plan is to solve these. Some hints given below.
Rizen swap:( hints)
Low sllipage
nearly 0% fee
lifetime reward for rzn holders.
Decentralized Governance.

Q2 from Telegram user @Jonahapagu

Actually we are following these consensus mechanism in a combined way.
POT= proof of transactions represent that rewards coming from transactions.
POL= proof liquidity represent that we have locked liquidity and extra provided liquidity in uniswap.
POS= proof of stake represent that we have stakers who wants to support the platform and want to increase the token value in exchange of getting lifetime passive reward from every transactions.

Q3 from Telegram user @paul_adebayo

To increase the value of token I hate the way of central control or hand of team to buy back or burn. I like decentralized nature. So, in our system we have build in burn and inflationa function which maintain the supply to increase the coin value.

Q4 from Telegram user @Mora110

No, there is no specific time and also no limitation to withdraw reward. Only important things you need to know that if you unstake all of your staked tokens will be burned. :innocent:

Q5 from Telegram user @Nickkiii

Yes, sure. We have a video tutorial on this. Also, you can ask any help from our community in our rizen group. https://rizencoin.com/dashboard/farmtutorial.mp4

Q6 from Telegram user @KhaleesiTheCryptoLady

Rizen coin listed on Uniswap and Hotbit exchange. You can still participate in staking. We are still a beginner project.

Q7 from Telegram user @Korryl

Nice question. Farming is really a unique idea to distribute tokens in a decentralized way. That’s why I like farming. Yes, I agree with you that most of the farmers provide liquidity and earn farming rewards and sell it. But it dumps the price for while. But I believe that if there is demand for token, the price will grow up again and also it gives chances to others who wants to get entry in low price.

Q8 from Telegram user @ktziecee

Awesome question. Yes, most of the projects are here to get quick money and then go away. Also, their concep is quite similar. But here we are unique with our own staking and supply mechanism. As experimental project we want to see how this mechanism works in a decentralized way in defi space. Yes, in defi space swap is very important which we want to make it with nearly zero fee.

Q9 from Telegram user @AmirJosh

Yes. Staking will lock your token forever. Our stakers getting reward from every transactions which is for lifetime.
There are a big picture behind it. If you see, already around 600 token staked which means some vale Locked forever and this will help to reduce dump and lower the circulation. And this will drive the price up always. So, it’s depends on your believe in the system if you are a long time supporter of this project.

Q10 from Telegram user @shair29

So, there is no limitation for staking. And returns of rate depends on how many transactions will happen.

Part 3 — Quiz Results

In the final part we tested your knowledge in terms of Rizen Coin. They’ve prepared 4 questions for this part. The total reward pool for 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/

Rizen CoinCommunity: https://t.me/coinrizen

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