Scaleswap x Satoshi Club AMA Recap from 15th of May
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 Scaleswap and our guests were @ralf_p_gerte, @Mark_Scaleswap, @Jesstherover and @stolberg. The AMA took place on 15 May.
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
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with Scaleswap! Welcome to Satoshi Club
Andrés M. | Satoshi Club: [
Mary | Satoshi Club: @ralf_p_gerteis welcome here
Andrés M. | Satoshi Club: @ralf_p_gerte is welcome to Satoshi club, how are you?
Ralf P. Gerteis: Thank you very much for having us!
All good here — our last mile before IDO!
Andrés M. | Satoshi Club: When is going to occur?
Mary | Satoshi Club: Awesome! Let’s start our AMA! We want to know about Scaleswap as much as possible
Ralf P. Gerteis: We did not yet publish the exact date but it will be still before end of May!
Mary | Satoshi Club: We will wait for the announcement
Andrés M. | Satoshi Club: Don’t forget to share the announcement with us
Ralf P. Gerteis: Absolutely!
Mary | Satoshi Club: Ralf, also, could you please introduce yourself and tell us more about Scaleswap?
Ralf P. Gerteis: Sure, I’m the Co-Founder and CEO of Scaleswap. I’m an entrepreneur at heart with 20 years of experience as an executive, management consultant, board member and angel investor. I’ve been full-time in the blockchain sphere for more than 4.5 years.
The Scaleswap family consists of 2 co-founders, Stan and myself and 6 team members as well as 7 great advisors.
We are the first fair IDO launchpad on the scene. We stand for transparency, a community- as well as token-centric approach and with the long-term vision to transform IDO’s to a more sustainable construct that’s here to stay. We also use the latest technology (ETH layer 2 scaling protocol, powered by Polygon) but foremost we value our community and give them the opportunity to earn influence in our DAO and guaranteed access to launch pools of selected high-quality projects before their launch by their continuous loyalty, no matter of their budget (-> ScaleSCORE).
Mary | Satoshi Club: How did you get involved in crypto?
Ralf P. Gerteis: To be honest by coincidence
After my exit from my consulting company Fusion Consulting AG (SAP Consulting and Management Consulting) in 2016, I wanted to make a deep dive in the emerging tech startup scene and as I was living in the Crypto Valley in Switzerland, I was pretty fast caught by the blockchain virus
Mary | Satoshi Club: It was very lucky concidence
Ralf P. Gerteis: Absolutely — don’t want to miss a day since being in the crypto sphere!
Ok, Crypto Winter could have been a nicer time, though…
Mary | Satoshi Club: Crypto winter was as cold as Crypto summer is hot now
Ralf P. Gerteis: So right
Andrés M. | Satoshi Club: Was a great opportunity, look for everything that you was gained on crypto
Ralf P. Gerteis: And it will get even hotter after the Scaleswap launch
Mary | Satoshi Club: Sure
Thank you, Ralf for your intro! Do you want to add something or we can go to the questions from our community?
Andrés M. | Satoshi Club: Waiting for it
Ralf P. Gerteis: Sure, please shoot the questions over
Q1 from Telegram user @pixma00
Scaleswap has developed a highly token-centric economy to support healthy token development and reward our community for their participation, dedication, and loyalty. What differences can I find between Scaleswap and the DeFi platforms that are currently operating? Can you tell us a bit about the layer scaling you have decided to implement? What are the important features that make Scaleswap stand out?
Ralf P. Gerteis: Let me start with the more token economics related part…
We will have public and private pools and the core of our solution is our ScaleSCORE, a 360° loyalty scoring system. Our future pools won’t be based on lottery only! Holding SCA tokens is one of several elements that determine your ScaleSCORE. And holding your SCA tokens without interruption increases your score as well over time as well as keeping your SCA token holdings ideally at the maximum amount you’ve ever held. And not all criteria are SCA token related — but we can’t reveal yet more — more news will be released soon. There will be 6 dimensions in total.
Mary | Satoshi Club: @Mark_Scaleswap @Jesstherover @stolberg welcome to Satoshi Club
Andrés M. | Satoshi Club: [
Mary | Satoshi Club: So, the difference is in tokenomics?
Andrés M. | Satoshi Club: What will be the maximum supply?
Ralf P. Gerteis: It’s one of our main differentiators but Stan will add the tech part as well regarding layer sclaling
Maximum supply will be 25m SCA tokens
Mary | Satoshi Club: It’s low supply
Ralf P. Gerteis: Yes, and we will for sure burn nicely
Stanislav Stolberg: Hello everybody
Now I can write:)
Yes, we believe that layer scaling is essential for the ETH ecosystem and we’ve chosen Polygon as an established partner with a proven/ working L2 technology. The decision was made after the research on all existing solutions up to date — it turned out that Polygon was one of the most advanced, but also the most progressed and production-ready.
At the same time we are evaluating further integrations and bridges to other protocols.
Mary | Satoshi Club: Btw, do we already have launchpads in cryptospace which are working on l2?
Ralf P. Gerteis: As far as we are aware of, we will be the first one operational on L2.
Andrés M. | Satoshi Club: Great achievement btw
Ralf P. Gerteis: Thank you very much!
Mary | Satoshi Club: Fantastic!
Andrés M. | Satoshi Club: So, could you tell us more about your current partnerships? Different of polygon
Ralf P. Gerteis: We are having partnerships in all kind of dimensions and did not make all of them public. Like in the marketing area, we will have a partnership with Biconomy on tech side, we are having a collaboration with Hacken (who executed also successfully our smart contracts audit) and with projects like MetisDAO (where we will build our DAO on). We are having also a collaboration with InnMind, one of the largest digital startup ecosystems. In addition, we are checking with a number of other providers if a collaboration makes sense, but we will be pretty picky. Quality before quantity
Mary | Satoshi Club: Wow, you made awesome job!
Ralf P. Gerteis: Thank you so much!
Mary | Satoshi Club: Thank you for your answers! Ready to proceed?
Andrés M. | Satoshi Club: You are creating a big ecosystem, congrats
Ralf P. Gerteis: Sure
Q2 from Telegram user @giovannialc
I find it very gratifying that your system was designed to ensure that the participants most committed to their mission are always rewarded (rather than simply favoring those with the largest budgets) that is, if a user has a low amount of Token can be rewarded in some way just by contributing to the well-being of the project? What happens to those who have a high budget, how would they be rewarded since they also contribute their part to Scaleswap?
Ralf P. Gerteis: Scalescore will be earned through 6 different dimensions of loyalty and participation. In contrast to our competitors, the amount of tokens you hold is only one part of it. And not all criteria are SCA token related. The system was designed to ensure that the most committed supporters of our mission are always rewarded (rather than simply favoring those with the biggest budgets). But at the same time, holding high amounts of tokens and providing liquidity has also an influence on the ScaleSCORE and will be in addition incentivized.
Andrés M. | Satoshi Club: So, it works as a governance token?
Ralf P. Gerteis: Absolutely
Mary | Satoshi Club: Do you have any articles which explain this?
here you go
(not yet everything revealed)
Mary | Satoshi Club: Thank you for sharing!
But may be you can tell us the minimum amount of tokens required?
Ralf P. Gerteis: The first points you get for >1 SCA token
and then we have a formula behind that calculates the points up to 100’000 SCA tokens (above that no additional points are earned)
Mary | Satoshi Club: Super! It seems easy
Ralf P. Gerteis:We’ll have a dedicated article explaining all details in a simple way. So, we feel comfortable that it will be easy for our community AND FAIR
Andrés M. | Satoshi Club: Thanks for share it, would you like to add something before the next question?
Ralf P. Gerteis: Nope, anyway can’t reveal more for now
Next one please!
Andrés M. | Satoshi Club: Great job, community is the pillar of the projects
Ralf P. Gerteis: Yes, out most precious asset!
Q3 from Telegram user @Suboo112123
The scaleswap team target to set the new standard in the launchpad space by making excessive gas fees a thing of the past, and re-imagining community appreciation and governance through ScaleSCORE, a comprehensive scoring system so what are the 6 different dimensions that are receive the loyalty rewords?
Andrés M. | Satoshi Club: Completely agree
Ralf P. Gerteis: That’s what I’ve meant
I can’t reveal all of them but 3 dimensions are directly related to our SCA token and two categories are related to our platform and the project that are launching on it. And there is kind of a bonus category that adds as well strong value to our healthy token economics.
The copycats are pretty attentive these days…
Andrés M. | Satoshi Club: Can you give us a little easter egg? What will be the name of each dimension?
Oh that’s right haha
Ralf P. Gerteis: This would be a big easter egg
Andrés M. | Satoshi Club:
Then let’s talk about safety, have your contracts been audited or are in process to be?
Mary | Satoshi Club: I think we have question about this
Andrés M. | Satoshi Club: Oh, then let’s proceed, @ralf_p_gerteis ready to go?
Ralf P. Gerteis: Stan is just giving some more insights about the audit topic…
Mary | Satoshi Club: Let’s post it
Q4 from Telegram user @johana0012
Scaleswap is a fully decentralized IDO launch platform, built on the scale of Ethereum Layer 2. Recently Scaleswap has announced an audit of the renowned cybersecurity company Hacken, which until 3 days ago was painstakingly visualizing each and every one of the details of smart contracts. What were the results of this audit? What was the qualification obtained in this audit? Were problems discovered through the audit?
Stanislav Stolberg: Thank you for bringing this very important question. Security of user and platform assets is always a top priority for our development team. We’ve been uncompromising in our approach to developing a bulletproof, well-audited, and battle-tested platform before launching. And I’m happy to share that Hacken recently completed a code review and security analysis of our smart contracts and awarded us with the highest possible rating of “well-secured” — having uncovered zero critical issues.
Our cooperation with Hacken will continue as we add additional layers of protection through upcoming penetration testing and additional code reviews.
In addition to the full audit (smart contracts and penetration testing), we will conduct a bug bounty program to maintain the highest level of security.
You can read more on this here:
Mary | Satoshi Club: When do you plan to start bug bounty? Which rewards do you plan for it?
Andrés M. | Satoshi Club: [
Ralf P. Gerteis:
Stanislav Stolberg: We do plan to start bug bounty very soon, I cannot reveal the exact day though. But it must be still in May. We are currently working on the reward structure and numbers depending on the level of severity of the findings, so hobbies whitehats can earn some bugs;)
Andrés M. | Satoshi Club: Do you have any announcement channel to join?
Mary | Satoshi Club: Gotcha! I am sure a lot of bug bounty hunters already put notifications on your channels
Ralf P. Gerteis: https://t.me/scaleswapann
Mary | Satoshi Club: Thank you!
Andrés M. | Satoshi Club: Let’s join Satoshiclubbers
Mary | Satoshi Club: Ready to go to the next question?
Ralf P. Gerteis: Yes, sure!
Q5 from Telegram user @Xusuo
Scaleswap will doing IDO on Polygon. On your site you claim that Scaleswap want to doing IDO differently and unique than other platform. So can you explain what is your plan to make your IDO become special? Can you explain more detail to us about your IDO? when is it?
Ralf P. Gerteis: Our ScaleSCORE loyalty system will have a strong impact and will make participations definitely most fair in the IDO Launchpad sphere. In addition, we plan to transform the IDO process and mechanism to a more sustainable model in the mid- and long-term but first we need to get to the pole position
to have the maximum power to enable such a transformation. As the ScaleSCORE will not yet have an effect for our own IDO (no loyalty can be measure with our dimensions yet), we will have to base to a certain extend as well on the not so much beloved lotteries but we are honoring our early community members e.g. with our NFT givaways which allows guaranteed pool participations.
Mary | Satoshi Club: To be honest, i finished to participate in IDO, because never was successful
Andrés M. | Satoshi Club: Could you share some designs of those NFTs? We love digital art
Mary | Satoshi Club: But i will definitely try your platform
Ralf P. Gerteis: Come to Scaleswap, be loyal and you’ll have a different experience
Loyal is the new brave!
Mary | Satoshi Club: Yes, NFTs are our passion
Ralf P. Gerteis: Unfortunately not yet — will be revealed soon!
Andrés M. | Satoshi Club: But you have the designer? Who will be the artist?
Ralf P. Gerteis: The Orange and the Blue Diamonds will be done by our designer who is an artist himself — and a very good one
and the Red Diamond will be a Top NFT artist who sold artwork of more than 5m USD already and who has a HUGE social media following. Stay tune — this will be an epic auction
Andrés M. | Satoshi Club: Amazing news
Mary | Satoshi Club: Thank you for your answers, Ralf! Ready for the 6th and last question from this part?
Ralf P. Gerteis: Absolutely!
Q6 from Telegram user @antoni_azx
On your roadmap it’s mentioned that the public testing of your platform will be incentivized, can you tell us more about these incentivizations for your community to try your tools? Will you make any contest or competition in the future?
Ralf P. Gerteis: Next to bug bounty, we will also check the possibility of public testing. Due to the tight timelines, we cannot assure this public testing yet. But there will be an announcement in the coming 3–4 days to confirm.
Mary | Satoshi Club: We understand
Andrés M. | Satoshi Club: Btw, what will be the greatest event for Scaleswap for this 2021?
Ralf P. Gerteis: Good question, so much things will be upcoming. So our own IDO will be a great story as it is also the launch of our platform but also some days beforehand the auction of the Red Diamond NFT will be an epic event. Around 4–6 weeks after launch we plan to add the first additional integrations to protocols and/or L2’s and in V2 we will also add the “autopilot” function
A lot is coming very soon and even more still in 2021!
Mary | Satoshi Club: So many upcoming events
Andrés M. | Satoshi Club: It sounds that you will be so busy next months
, a lot of fantastic things are coming for the project, our best wishes for Scaleswap
Ralf P. Gerteis: Thank you so much!
Mary | Satoshi Club: So, we came close to the live part now
Are you ready for it?
Andrés M. | Satoshi Club: To you for your great answers, this first part of the AMA has been awesome, now is time to interact with our dear community members
Part 2 — live questions from the Telegram community
Q1 from telegram username @cindy_crypto
Do you plan to add staking or farming support for your token SCA in the future?
Ralf P. Gerteis: We are not big supporters of staking as we think there are more sustainable methods to incentivize. We will launch a liquidity provision incentivation, and for locked liquidity also with a farming option!
Q2 from telegram username @vedamatrix
How can I increase my ScaleSCORE for winning more IDO’s?
Mark | Scaleswa: Hi @vedamatrix! The exact ScaleSCORE metrics will be released prior to launch so that our early community members have the opportunity to plan and prepare. Stayed tuned to our Telegram channel for updates, and rest assured, your power on our platform will always be in your own hands
Ralf P. Gerteis:
As we can’t reveal yet all dimensions of our ScaleSCORE, a more generic reply: In being loyal with Scaleswap, our SCA token and the projects that are launching on our platform.
Q3 from telegram username @KhaleesiTheCryptoLady
What are the incentives you could give to SCA holders and to the loyal and committed supporters of ScaleSwap?
Jessie: The benefits of SCA token includes but not limited to guaranteed pool participation, voting power in DAO governance, airdrop from our projects and access to unlocking advanced features such as autopilot participation. You can read more on our Medium articles : )
Q4 from telegram username @testercoin
This is the first time I’m seeing a project using CasperLabs for layer 2 solutions. What’s your partnership with CasperLabs?
Ralf P. Gerteis: We have a great relationship with CasperLabs and I know Medha (CTO) personally since years. We are working out an official partnership with CasperLabs very soon and will publish that as well. We see here a great potential to be the first launchpad that goes into this direction. But we will also keep the other hot options in mind like the emerging Solana protocol as well as BSC (but which is getting already crowded with launchpads) and some others.
Q5 from telegram username @esrarengizbtc
Thanks to a well-planned Marketing strategy, the chances of success of projects increase. What is your strategy for attracting potential investors globally to your project’s ecosystem and for mutual benefit?
Jessie: I lead marketing at Scaleswap and I’m pleased to say that we have onboarded 80+ influencers who believe and invest in our project, that’s step 1. Our influncers and partners are both global and local, giving us a strong headstart in the game. Long term wise, we aim to be the best community-centric and token-centric project by being fair and transparent, reward our most loyal members and offer top level support to projects that are launched on Scaleswap. The sucess of our community and projects define the success of Scaleswap.
Q6 from telegram username @boradam
Who are the developers of the Scaleswap project and what are the experience of them before this project?
Mark | Scaleswap: Stanislov Stolberg is the driving force behind our technology and security as CTO. He brings a wealth of passion and expertise in the areas of decentralization, security, and creative community. He’s served as an independent consultant of some major industry players like Deutsche Bank and Insurance ERGO and he is also an experienced entrepreneur.
You can find more details about each of our team members and links to their social profiles at: https://scaleswap.io/
Q7 from telegram username @cryptofollower
You named your IDO launchpad as Defi 2.0. When you say layer 2, I’m all ears for what I can save for gas prices. Right now for me and for the most people to choose invest on centralized exchanges is the gas prices on decentralized exchanges and IDO’s on launchpads. It costs really much gas price and also because of slow speed on Ethereum network there are transaction fails and lost of gas costs. I can talk more about this but how can you solve this problems with the Scaleswap project? Please explain me when I join an IDO and bought the token with low cost of gas, will I see my tokens on my ERC-20 compatible wallet? Or will I need another kind of wallet. How will this system work for us? I think this project is really different from other defi launchpad projects.
Ralf P. Gerteis: Very good question… Yes, with DeFi 2.0 we see on the one hand the technical advancement with building on Layer 2 — Polygon and on the other hand we are having a step by step approach of being fair and develop the IDO space to a more sustainable model. Yes, indeed, being on layer to and navigating from there means close to 0 gas fees. I did 50 transactions lately and it cost me maybe 0.05 USD and the ecosystem is thriving with 1inch, Quickswap, Aave and many others, so you can do already a lot without moving from L2/ Polygon. For the onboarding process, we will will have a UI that guides you through the whole thing, you can use Metamask, no need to create any new wallet and you even don’t need to switch the network in Metamask (confidential how we do that)… So we are trying to keep things as simple as possible while using the big benefits of L2/ Polygon.
Q8 from telegram username @smelekin
Why should people join your launchpads what do you provide them other launchpad projects don’t provide?
Ralf P. Gerteis: We are fair, transparent and we have plans to make IDO more sustainable in future. And our community honors this very much. We believe that we are building up the most loyal and great community out there that fully believes in our mission and values — and not only in “where is the next 100x” but who are blockchain believers and enthusiasts and who are having a long-term view on it.
Q9 from telegram username @mucana
The biggest fear of investors is to be deceived. Could you tell us about your security measures to address this concern and trust us?
Ralf P. Gerteis: Stan, our CTO, is himself a security expert. We completed a successful security audit by Hacken with the highest rating, we are having an internal audit freelancer engaged and we will perform several audits. Penetration testing is starting these days and there will be a bug bounty in collaboration with Hacken. In addition, we are checking the possibility for a decentralized insurance of funds. With this setup, we believe that we are very well prepared. But 100% security is a target that is not reachable. You can only give your best to get as close as possible to the 100%.
Q10 from telegram username @MCBTrade
Do you expect an increase in competition among new projects? What competitive advantages can the components of your ecosystem give you?
Ralf P. Gerteis: Hi there,
Yes, there will be a strong competition but that’s a good thing and should increase the quality and offering. We are the most fair and transparent launchpad with the most loyal community. We have values that we stand for and if a project launches on our platform it will be kind of a quality seal. In addition we have loyalty-by-design by our ScaleSCORE also for projects that are launching on our platform. This is a great advantage for them. In addition, we’ve built up a network of around 35 great backers that will support strongly with deal flow of the best projects. Let’s get ready to rumble
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.
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