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SpaceMine x Satoshi Club AMA Recap from the 08 of November

Hello, Satoshi clubbers and guests of this site. Glade introduces to you the crypto project SpaceMine. This project created an opportunity to earn money through a fabulous journey around the planets. Explore space, the final frontier visit different planets, complete quests, and learn about DeFi. New to farming? No problem! Complete the quests to learn all about farming and earn rewards in the process. Enjoy your SpaceMine adventure, get yields, and utilize our suite of tools to navigate DeFi with ease.

The AMA session was divided into 3 parts with total crypto reward pool is 800$.

Leading the AMA our clever and fun admins:

Luis Merino

| Satoshi Club @LuisMe7

Gold Rocket | Satoshi Club @GoldRocket27

The Representative of the project: @Jon0x Captain of the Starship Enterprise @spaceminedefi

PART 1. INTRODUCTION of Spacemine DeFi PROJECT AND COMMUNITY QUESTIONS.

Introduction of Spacmine DeFi:

Luis Merino

| Satoshi Club:

Hello SatoshiClubbers! Welcome to another AMA session with Satoshi Club. Today we have SpaceMine DeFi with us.

@Jon0x , @defi_bane welcome

Gold Rocket | Satoshi Club:

So! We continue our amazing attraction! The AMA marathon continues!

Jon0x:

Answer for a question — SpaceMine weblink??? — from @AmitGoyal1444 Unfortunately, we’re under DDOS attack at the moment, the website will be back up in a few hours

Luis Merino

| Satoshi Club:

Second AMA today!

DeFi_Bane:

Answer for a question — SpaceMine weblink??? — from @AmitGoyal1444

https://spaceminedefi.com/

Gold Rocket | Satoshi Club:

@Jon0x , @defi_bane welcome to Satoshi Club

Jon0x:

Hello! Great to be here

Gold Rocket | Satoshi Club:

Thanks again for joining. To begin with, please tell us a few words about yourselves and how did you get to be involved in SpaceMine DeFi @Jon0x , @defi_bane

Jon0x:

Thank you for having us!

Hi everyone. I’m Jon, the captain of the Starship Enterprise here at SpaceMine.

I don’t have a ton of blockchain development experience, worked on a few open-source libraries here and there. In my normie life, I’ve been working for a fintech startup, along with the other two SpaceMine devs, and we were acquired for almost half a billion within 5 years of operation. So we know a thing or two when it comes to fintech products and user experience, and we’re used to an agile development environment that executes and iterate fast

The idea of SpaceMine started when I saw how fast DeFi adoption grew over the summer this year. I firmly believe that DeFi will inevitably breach the broader market and start attracting norms. And we want to position our platform as the one-stop destination that will provide everything DeFi offers in terms of investment management and trading support, and build a gamified experience on top of all that utilizing our team of game designers, to help the normies navigate DeFi with ease.

Gold Rocket | Satoshi Club:

Thanks for the great intro! How big is your team?

Jon0x:

Our team currently consist of 3 developers, 2 designers and a community manager

Luis Merino

| Satoshi Club:

Small one!

Jon0x:

Yeah this is our founding team, as the platform grows I expect we’ll be adding on to it

Luis Merino

| Satoshi Club:

Sounds good!
Any plans to expand it? Or maybe launching an ambassador program to increase your adoption and community?

Gold Rocket | Satoshi Club:

Yes, Would you like to share more or move on to community questions?

Jon0x:

I’m fine with kicking off Q&A

Selected questions for a Spacemine DeFi crypto project:

Gold Rocket | Satoshi Club:

Q1 from Telegram users @AmirJosh

SpaceMine’s ultimate vision is to build a gamified experience that simplifies DeFi for all users. So using your platform is like playing an online game?

Jon0x:

In our roadmap it points out that gamified user experience will not happen until phase 3, we are currently prioritizing rolling out features. So in the first 2 phases, our platform will be a typical DeFi platform, amid better design and graphics

but small features that make the experience more game-like will be added along the way. Once phase 3 kicks in, our plan is to use a game-like experience to help educate users about DeFi, for example when you pick a character and start a brand new adventure as a complete beginner, the only Vault strategy available for you will be of beginner tier risk tolerance, and by completing the quest and answer a quiz about smart contract risk & impermanent loss, you’ll earn rewards and unlock higher risk tiers

Gold Rocket | Satoshi Club:

It sounds good

Luis Merino

| Satoshi Club:

Love the idea about your roadmap!!

Jon0x:

Next question?

Gold Rocket | Satoshi Club:

Q2 from Telegram user @surdumiha

The total supply of $MINE is 96,000. 70% of all $MINE will be distributed via liquidity mining. That’s a lot and it’s good that it will be distributed only to people who are interested in your token. For how much time have you scheduled to distribute that 70%?

Jon0x:

The emission schedule is in our first medium article.

https://esatoshi.club/wp-content/uploads/tokenomics-1024x632.png

Gold Rocket | Satoshi Club:

Can you share a link to the article?

DeFi_Bane:

https://spaceminedefi.medium.com/spacemine-all-your-defi-needs-in-one-game-f6988034d03e

Gold Rocket | Satoshi Club:

Thanks, guys! You are lightning-fast!)))

Luis Merino

| Satoshi Club:

Seems like they had the answers ready…

And what about the other 30% left?

Will it be for the team?

Jon0x:

10% is for the team, but vested linearly over 6 months

Gold Rocket | Satoshi Club:

It’s improvisation

Luis Merino

| Satoshi Club:

And the other 20%?

Jon0x:

10% minted for Treasury, this portion will stay locked until governance is enabled, and the community can decide what to do with it, let it be airdrop or burn or for gaming rewards

Jon0x:

then 8.33% is for our whitelisted presale, 1.67% for initial Uniswap liquidity

Luis Merino

| Satoshi Club:

Got it! Thank you :)) Q3?

Gold Rocket | Satoshi Club:

Yes everything is clean

Q3 from Telegram user @johnnysencik?

You have distributed a portion of the tokens for the pre-sale. Please tell us what were the conditions for the presale participants and what price they had? Because if their price is low and if they don’t have vesting, they might dump the price.

Jon0x:

The presale hasn’t happened yet! More details about the presale will be posted in the coming days. We just started our invite contest and creativity contest and winners will get spots on the whitelist

for anyone interested

Gold Rocket | Satoshi Club:

But do you already know the pre-sale date?

Jon0x:

Yes it will be on November 19th, right after the end of our contest

Luis Merino

| Satoshi Club:

Quite soon…

Gold Rocket | Satoshi Club:

Excellent! can you give a link to this contest for the Satoshi Club @Jon0x

Jon0x:

https://spaceminedefi.medium.com/contests-are-live-40aa765f3565

details about the contests are in this article

Luis Merino

| Satoshi Club:

Will check it as soon as the AMA finishes. Seems to be a great contest

Thank you for your answer

Ready for Q4?

Jon0x:

Of course!

Luis Merino

| Satoshi Club:

Q4 from Telegram user @PaoloMonte87

Planets and planet’s mining sounds like the birth of a whole new universe? Can you tell us more about the mechanics behind this “gamified experience2, as you call it? Will we be able to discover planets? Own them? Even wage war to other players planets? What can we expect?

Jon0x:

Each planet represents a DeFi feature, such as the Farm planet is for our initial liquidity mining, Swap is for DeFi aggregated swap that automatically routes your order to the decentralized exchanges and synthetic providers with the best price, Vault and Governance pretty self-explanatory. More planets will be added in the future for our space miners to discover! Make sure to check out our roadmap article for more details on what’s coming

https://spaceminedefi.medium.com/spacemine-roadmap-19979d24c39c

Luis Merino

| Satoshi Club:

So fast Jon! You had all the links ready

Gold Rocket | Satoshi Club:

Great!

Luis Merino

| Satoshi Club:

Jon0x:

thanks!

Luis Merino

| Satoshi Club:

I have no questions at all for this one. @GoldRocket27 do you?

Gold Rocket | Satoshi Club:

@Jon0x: sir! it’s a pleasure to deal with you)))

Gold Rocket | Satoshi Club:

Everything is clean for me too!

Luis Merino

| Satoshi Club:

Q5 then

Gold Rocket | Satoshi Club:

Q5 from Telegram user @cengizhantekin

SpaceMine automatically routes the orders of users to the exchanges and synthetic asset providers. What technology are you using to achieve this functionality?

Jon0x:

We have a wonderful partner Totle that makes most of the logic happen, they’re also one of the main partners that powers MetaMask Swap. We differentiate ourselves from MetaMask Swap in the sense that we’ll be supporting multiple wallets, and MetaMask charges 0.875% per trade vs ours will be 0.475% (can be changed through community governance). The transaction fee collected will be used to market buy $MINE, our main platform token, and therefore support the ecosystem

Luis Merino

| Satoshi Club:

Btw, when was SpaceMine DeFI launched?

Jon0x:

Just a few days ago

Luis Merino

| Satoshi Club:

And you already have partnerships! Sounds good. That’s a great way to go

Gold Rocket | Satoshi Club:

I hope you share with us

Jon0x:

Our development has been going on for much longer

Luis Merino

| Satoshi Club:

That’s what I thought

How much have you been developing? When did you come up with the idea?

Jon0x:

We started discussing the idea somewhere around August, officially assembled the team and started development end of September.

Luis Merino

| Satoshi Club:

Thank you for the info

Ready for the last question of part 1?

Jon0x:

Yes can’t wait!

Luis Merino

| Satoshi Club:

Q6 from Telegram user @Jonahapagu

You said that once your platform has reached a sufficient size and the community stabilized, you will give the community full control over the governance of new strategies, as well as the deployment of treasury funds. How do you intend to fully give control to your community (is this really possible), and what is this “treasury funds” that will be deployed, what will it be used for

Jon0x:

We will have both on-chain and off chain governance, platform parameters voted by community governance will be applied via a smart contract with no manual steps, and yes it is possible. We can’t fully give control to the community though, the team will still be driving the design, development, and direction. The community can vote on platform parameters such as swap transaction fees, risk scores, etc. And off chain decisions such as which Vault strategies to deploy, and how to use the treasury fund. As I mentioned above, how treasury fund is deployed will be the community’s decision, we can airdrop, or burn, or use them for platform rewards

Gold Rocket | Satoshi Club:

@Jon0x: after you answer Q6 get ready for Niagara Falls from questions !!!

Jon0x:

Love it!

Gold Rocket | Satoshi Club:

me too! Satoshi Club is the best community

Luis Merino

| Satoshi Club:

Any launching dates for this governance process? Maybe it is in your roadmap?

Jon0x:

Governance and Vault will launch roughly a month into our liquidity mining process when more than 50% of $MINE has been distributed. But before all the contracts are developed and well tested, and frontend integration wrapping up, we’re not going to give a definitive date. One should always under-promise and over-deliver, not the other way around.

Luis Merino

| Satoshi Club:

Got it! Looking forward to its launch

Anything else you want to add?

Jon0x:

Not much, these questions were great! Very spot on

Luis Merino

| Satoshi Club:

Yes! They were amazing

Luis Merino

| Satoshi Club:

Ready for part 2 then?

Gold Rocket | Satoshi Club:

I really like your answers! thank you very much!

Luis Merino

| Satoshi Club:

A huge bunch of questions arriving…

Jon0x:

Yes!

Luis Merino

| Satoshi Club:

Chat will be open in 20 seconds…

PART 2.QUESTIONS for a CyberFi DeFi PROJECT from TELEGRAM COMMUNITY LIVE

In this part, we open a chat for the crypto community for 80 seconds. Then the guests from the crypto project choose the top 10 questions. These 10 crypto enthusiasts have earned cryptocurrency.

Q — 1 from a telegram user @Jonahapagu

I read that your Vault strategy has Different risk Tolerance tiers from beginner to Expert.. can you explain these tiers and the risk tolerance for each level going up from a beginner to an Expert.

Jon0x:

Our beginner risk tolerance will be simple and secure protocols, such as lending platforms. Users are not going to be exposed to smart contract risk or impermanent loss. our current strategy in development is stable for stablecoins, and a lending strategy for ETH. The intermediate level would expose users to at least one risk — — smart contract risk (farming new protocols), or impermanent loss (farming with pairs) and our expert-level strategy needs its own article that we will release in the future It’s a foreign direct investment vault, where the fund will be used not in DeFi protocols

Q — 2 from a telegram user @KeymerS

I understand that your team is working to develop the “technology, the necessary partnerships”, but really what technology do you need that you can’t get with an association? and what companies do you plan to establish? what is missing from Space Miner DeFi?

Jon0x:

All our codes are developed ground up, we don’t fork any existing protocols. We do utilize partnerships wherever we can, for example, Totle powering our swap functions, and Zerion doing most of the heavy lifting of portfolio tracking, and we’re in discussion with Blocknative to develop our trade support (limit order/stop-loss order functionalities) leveraging their mempool monitors.

Q — 3 from a telegram user @jobel4

LP Pool participants enjoy a 12x boost in reward distribution compare to other pools. Can you explain more about how to earn 12x inyo your pools? What are the mechanisms and algorithms being applied to this feature?

Jon0x:

$MINE/$ETH LP pool simply emits 12x faster than other single token pools. We want to give everyone in DeFi a chance to get $MINE for free, but at the same time, we want to reward those who believe in and support SpaceMine proportionally.

Q — 4 from a telegram user @Beterror203

SpaceMine also plans to dive into the world of NFTs?

Jon0x:

We have amazing designers! And we have a secret project to be announced once Vault launches,

Q — 5 from a telegram user @KhaleesiTheCryptoLady

As I observe mostly DeFi projects have similar aims and this is to be the one-stop destination for all DeFi needs, what makes you different among these other DEFIs which could turn investors investing in your project?

Jon0x:

Our dev team has been in fintech for a very long time, there is a vast amount of knowledge accumulated from actually developing client-facing fintech services and optimize the user experience. Combine that and our outstanding design and gamification aspect, I believe is what will make us stand.

Q — 6 from a telegram user @Damiya1

What are the ways that #spacemine Defi generates profits/revenue to maintain your project and what is its revenue model? How can it make benefit win-win to both investors and your project?

Jon0x:

All of the fees generated from the platform will feedback to the ecosystem, Swap transaction fees which kicks in as soon as liquidity mining starts, advance trade support and portfolio management will have a similar structure, and so on.

Q — 7 from a telegram user @Jonahapagu

You currently have 9 liquidity pools out of which 8 are single token pools why did you create single token pools instead of the Dual token pools we are well familiar with, what difference and importance does this bring, and for the 8 single tokens how were they selected and do you have plans of increasing the number of pools in the future.

Jon0x:

We want to give everyone in DeFi a chance to get $MINE for free and risk-free. I mean if you’ve been using DeFi protocols, most likely you own some of these tokens. They are selected randomly, since there are too many good DeFi protocols we can’t include every single one. There will be no future pools.

Q — 8 from a telegram user @AmirJosh

Your published SpaceMine roadmap on medium indicates just the Phase of the project and not the actual calendar dates. Where can I find the information about the SpaceMine platform’s timetable?

Jon0x:

I understand a lot of projects put up a detailed quarterly/monthly roadmap, but in the end, those end up being just targets, and more often than not those targets are missed. From my own development experience, it’s difficult to even estimate the effort for a single user story accurately. Therefore we can only provide a rough guideline in terms of when the NEXT stage will happen, for example, Vault and Governance will kick in roughly a month after liquidity mining starts. And we will announce set dates when all the development work is wrapping up.
Q — 9 from a telegram user @KeymerS

Will they have any limitations, restrictions, or penalties in the event that a user does not fulfill the missions in a set time or cheats another user? or will it be totally free of punishments and penalties?

Jon0x:

There will not be penalties in SpaceMine, the penalty for not being informed when playing DeFi is that you get burnt

Our secret project though contains the idea of competition, so if you lose the game you will incur some losses
Q — 10 from a telegram user @Gutike95

Really this initiative of “invitation contest and creativity contest” are great, do you plan after they finish creating other contests? You could create a “Meme Creation Contest” referring to DeFi or DeFi games, sure that will attract more users.

Jon0x:

The meme is included in the creativity contest! We love memes the more the merrier! There will not be other contests for the whitelist, but an open registration for all near the end of the current contest, where all you need to do is be on time and answer some questions about SpaceMine to secure yourself a spot on the whitelist!

Part 3 — Quiz about project Spacemine DeFi.

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. Participants had 10 minutes to answer. 500$ 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: Spacemine DeFi

Telegram | Tweeter | Website | Medium

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