Triplex.Network x Satoshi Club AMA Recap from 20th of January
Welcome to another episode of our AMA series. Today we are glad to tell you about the AMA session with our friends from Triplex.Network. The AMA took place on January 20 and our guest was Seed Master.
The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.
PART 1, INTRODUCTION AND COMMUNITY QUESTIONS
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with Triplex.Network! Welcome to Satoshi Club.
Seed Master: Hi Mary! I’m so happy to be here, heard a lot of good things about this community!
Mary | Satoshi Club: The same with us
it’s always cool to have new projects as guests. How are you today?
Seed Master: I’m great! Me and all my guys on https://t.me/triplex_network_token are very excited! Our launch went great — and i’m sure this AMA will be even better!
Mary | Satoshi Club: That’s great! Let’s start with your introduction and of course introduce Triplex.Network to our community.
Seed Master: So I’m Seed! I’m a dev for a lot of time now, had already few successful projects in the past — and now I have created our best project yet -TripleX.Network. A lot ask me why my name is seed.
Mary | Satoshi Club: Yes, why seed?
Seed Master: So nothing clever, I just love to eat (and sometimes smoke
) all kind of plants.
Mary | Satoshi Club: And tell us more about TripleX.Network concept.
Seed Master: With pleasure dear Mary! So I know everyone love passive yield generation and how could you not love it? But I love to take everything to the extreme! So while most of the projects have just one way to make it happen — we have 3 WAYS TO PASSIVE INCOME! and the most amazing part? it’s all transactionless, you simply hold, no more websites with complex code, no more high gas. you simply hold.
Let me explain how we achieve the best passive income you guys heard of and please forgive me in advance — because i’m going to blow some minds.
First thing is Daily transactionless inflation! — Every day, the contract automatically increasing the balance of each holder without the need for a single transaction. For the first week, the holders will get every day 4% more of tokens. After that, for a month it will be 3% per day. After that period — 1% every day, for a life time!
The second: Smart Yield Generation — On each transaction, a 3% fee is distributed to all TripleX holder proportionate to their total holding. TripleX is generating you a passive income simply by holding your tokens. Which in some way, if you think about it — it’s the biggest thing of RFI — but for us it’s just “one more way” to get passive yield generation.
The third: Smart BuyBacks — Every 15 minutes TripleX initiates a phenomenon, which represents a buyback using the entirety of the accumulated funds in the buyback wallet over this time period. all the TripleX tokens that have been purchased during the buyback will be burnt forever, making every token more valuable.
Q1 from Telegram user @johana0012
What does TripleX.Network really offer? Could you explain to me what the FLOW merger consists of, and why combine it with RFI and an intelligent Buy Back function?
Seed Master: Great question Johana! TripleX offers you a better way to passive yield generation. But what is it REALLY offers you? Stability! In this crazy world — where the feds just keep printing money, and the $ loss it’s value every single day — we want to give you something safe. You know you get a daily interest. not some 0.5% of ROI when you hodl in your bank. but a REAL ROI!
Now let me answer about the flow and rfi and of course about the buybacks! The flow merge gives you something that resembles stakeless farming. You can increase your position without locking your tokens away — they are all under your control at all times. And all this is achieved transactionslessly and with minimal fees, we especially worked hard on minimizing the fees by employing techniques like efficient exponentiation, efficient fixed point arithmetic and more and you can take a look at the results yourself!
Mary | Satoshi Club: How you will minimise fees?
Seed Master: As I mentioned — there’s some math involved, but you could read some more about exponentiation by squaring for example. We are also using delayed fee collection to make sure the fee is distributed much more evenly.Another factor we leveraged is efficient fixed point math — in case you are not familiar with solidity — there are no default floating point operations. We have done a lot of research and used some optimized and known methods for that.
Mary | Satoshi Club: Do you have any articles about this?
Seed Master: Yes of course! you can read it on our medium article: Medium: https://bit.ly/3qldRRW
We will post some more technical resources in the group and on medium later. I already told you I love green and plants right?
But seeing so much green is even making me happy!
Q2 from Telegram user @yellowchamp
According to your platform, in presale in Triplex would be 60ETH Softcap 96ETH Hardcap No whales on whitelist. You can buy 1ETH or 2ETH only 30 Spots for 2 ETH and 30 Spots for 1ETH. Only 60 participants on the whitelist 17,500 TripleX tokens. So with this scenario, the holders of your token would be only 60 for pre-sale? What if not all tokens will be sold, what happen to unsold tokens? Why does the minimum of buying in Presale is 1ETH so high as we know 1eth today is already 1300$-1400$ already, do you think investors would buy it? Why not decide to lower the minimum so that small potential investors can afford it? Presale info in your website is not so clear, can you tell us more about it? Thank you.
Seed Master: Let’s travel to future, imagine all the tokens being sold in 10 minutes and whitelist filled under 10 seconds, Sounds like a dream?
Well — as Trump says, sometimes dreams became reality! Because our pre-sale is already over we sold all the tokens in 10 minutes’ whitelist was filled in 10 seconds and now we see mostly green candels so I guess trump was right guys sometimes dreams do come true.
Gold Rocket | Satoshi Club: You are a big crypto idealist, who has everything mathematically confirmed
Seed Master: Yep! I have a passion for maths and the distributed nature of the blockchain
Mary | Satoshi Club: But as @yellowchamp told you didn’t give chances for smaller investors? Why?
Seed Master: That’s a great question. We needed a strong fundamental. We wanted to make it inclusive. A lot of people getting mad on Rolex — why so much funds needed to buy it? when you can buy a watch in 10$? That’s right! but it’s not rolex. We wanted to combine capitalism together with communism. We gave opportunities for big guys on pre-sale (And I don’t really think 1ETH is considered a big guy) — and opportunity for everyone else on listing, you know the saying — if you can’t beat them, join them? We are here to help the little guy you didn’t have the funds to participate with 1ETH pre-sale? with TripleX.Network — you will soon have more than enough to be able to participate in the next big pre-sale, with our daily interest — you will hopefully become a whale yourself one day.
Mary | Satoshi Club: Btw, can you give me at least one example of a project with such high ROI which didn’t dump in some months?
Seed Master: Of course! Take a look at flow. They didn’t have any major dump until they reached more than 1k holders, we are in a position when we have only 200 holders now. So it’s reasonable to think that the future “dump” is at least 2x from now considering we are only around 200 holders now.
Mary | Satoshi Club: Flow? You mean Flow protocol?
Seed Master: Exactly, the problem which led them to dump is there was no buying pressure that’s why we made sure to have buybacks every 15 minutes, so even if more people sell and “the price is dumping” you get more tokens out of each fee Both tokens and buybacks. People buy? People sell? Either way you make somehow money.
Mary | Satoshi Club: I found this chart for Flow Protocol
Seed Master: Exactly! the dump started after 1k holders and don’t forget it’s a direct listing, they didn’t have strong fundamentals that’s why we raised 60ETH to have a strong baseline that’s also the reason why we reduce it to 1% to eliminate the dump.
Q3 from Telegram user @Korryl
I understand that you choose being anon team because of privacy and decentralization reason, but some people might be afraid to invest on your project, do you have plan in the future to introduce about your team? How do you convince us new investor that TripelX Network is a trusted and safe project?
Seed Master: Here’s another graph to look at.
And I’ll let you check the market cap on your own and we combine the best of both of them.
Let’s answer the question, yes we are anon. But you don’t need to trust us. As a matter of fact, You can’t trust us! ONLY TRUST THE CODE and the code is simple to understand that’s why we also made comments to better explain everything.
Mary | Satoshi Club: Was this code audited?
Seed Master: Not yet — but we definitely want to audit it soon. We are planning to Audit it With Solid Or Certik. We are already in advanced talks with Solid — you can confirm it with him of course!
Q4 from Telegram user @JesusFre1tes
About Smart Performance Generation, what is the fee that is distributed to all TripleX holders on each transaction to be proportional to the total share? Does TripleX generate passive income by simply keeping my tokens? This intelligent performance, what technology do you use to make it efficient and superior to any other protocol?
Seed Master: 3% are distributed to all holders based on their current holdings. As we mentioned — YES! TripleX generates passive yield by simply holding based on the 3 methods we elaborated on above. How we make it superior? it’s the great question! it’s all about tech.
By carefully learning from academic resources and other projects! As we mentioned — we are using some clever math techniques to reduce the number of loop iterations (one of the major gas huggers in solidity and ethereum), we split the fees without a single transaction(!) And more. We could elaborate on that alone for an hour :). Happy to if the community is interested, but again — more detailed info will be posted in our group. But in simple words — we managed to reduce the loops and instead of paying the fees to the miners we paying them to you. While in other projects you pay to the miners — here you pay to the people!
Mary | Satoshi Club: Is it already working? I mean, if i will buy today, will i get my profit tomorrow?
Seed Master: Not tomorrow, but TODAY! that’s the beauty and dear Mary — I told you dreams can become true and they are already true
. The code has been LIVE and in production for the past week! While a lot of projects talk about “road maps” and “future plans” we talk business, we already delivered. We are not telling some “in the future tales” — our power is the truth and the current project and of course some seeds
Q5 from Telegram user @cengizhantekin
You do daily transactionless inflation with ratios of 4%, 3% and 1% ultimately. By doing this, the total number of tokens will double in the first 21 days and will keep doubling each 70 days. I understand that you will get this amount from the transactions but what if the transactions do not suffice to that inflation? What will the source for holders rewards be?
Seed Master: The inflation comes not from the transaction but from our smart contract so even with 0 transacations — you will have this rewards! The transactions? are a bonus! While we have new blocks — the rewards will keep coming. But more volume will result in the fee of the RFI + BUYBACKS but the flow rewards are regardless to the volume and that’s the beauty.
Mary | Satoshi Club: But the will be smaller?
Seed Master: The specific rewards you mentioned — are completely transactionless! You will gain them even if no transaction has happened for a year.
Mary | Satoshi Club: Let’s imagine, that i was one of those happy members that bought for 1ETH on your sale. I didn’t sell nothing, didn’t move my coins during today, how much should i get during one day?
Seed Master: It’s a nice question Mary! And I’m glad you ask only about 1 day! Because if you hold tripleX for a month you will probably won’t talk with me because you would already be sailing on your yacht
First of all
* 4% each day
* 3% on each transaction
* buybacks increasing price
So it’s hard to answer on one day, but the min is 4% and it’s if the volume is 0 the more real is at least 6% + price change. So it can easily be more than 50% let’s look at the graph.
Less than 1 day, but you will forgive me.
Mary | Satoshi Club: I winder, how much do you pay gas fees daily to distribute rewards?
Seed Master: There a few parts to this answer, and Ill get to some cold hard numbers for a second. A buy is around 200k gas, which consists of 80%+ of uniswap’s fees — not ours! A sell has an amortized cost of around 250k gas, and is usually the heaviest operation for tokens. So basically — the fee for selling the token at current gas price is around 5 USD, and the fee for splitting all the rewards is ZERO.
That’s right! The answer is 0! as I said — we take the money from the miners — and give them back to you good thing we are anon, otherwise some miners would hunt us down.
Q6 from Telegram user @Wormz28
Can you tell us some of the latest achievements made by the TripleX Network project? Can you also describe in details the development efforts you are currently working on like market expansion plans, expected applications, if there’s any & new upcoming program or events, etc.?
Seed Master: We have a lot of new things coming — Firstly, the audit. We always want to make sure the community feels safe investing!
Secondly — coingecko listing — we have already applied and waiting for the next phase.
Third — more AMAs and spreading the word! We are working hard on spreading the word on our community.
And lastly — we have a project that is going to synergize extremely well with tripleX, but it is still under development.
So a lot of new arbitrage oppurtunities are about to come! And we tell it here in the first time!
Mary | Satoshi Club: Hint? We love hints.
Seed Master: We will have new things to integrate with TripleX (In the future). Making the ROI even higer and not depending on just one Token making it more resistable. It’s like investing on two different stocks don’t put all your seeds in one basket.
PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS
The chat was open for 120 seconds; a lot of questions were posted by Satoshi Club community. Our guests chose some of them.
Q1 from Telegram User @babicanB
Are communities important to the TripleX Network? Do you plan to create a larger community and direct your project with their views?
Seed Master: Of course! our community is the center of our strength!
Q2 from Telegram User @K2ice
How is it possible for a user to be rewarded even with 0 transactions?
Seed Master: Nice question! The reward calculation is lazily evaluated! When you ask for your balance, all rewards are calculated retroactively in an optimized process.
Q3 from Telegram User @leixagarcia
I couldn’t see the TripleX roadmap on your website, but could you share what phase of your roadmap you are currently in? And what are TripleX’s main goals for this 2021?
Seed Master: We answered that to Mary, it’s the last question.
Q4 from Telegram User @JuanSB07
If during the first week users received 4%, then 3% in a month and finally 1% throughout their life, wouldn’t that be very high percentages? There is no chance that TripleX.network will become a scam? How can TripleX.network offer high percentages?
Seed Master: Exactly like FLOW did. But we added the transaction on every buy to the buyback wallet. making constant buyback pressure. In addition — the tokens the buyback wallet buys are burnt forever, decreasing the amount of tokens.
Q5 from Telegram User @Gutike95
Each project has a smart contract, but no other a “smart token” like TripleX, but what does he really mean? What makes a simple token “smart”?
Seed Master: Well I believe the main thing that makes a token smart, is the intelligence of the people who built it, and how much academic knowledge and experience were invested in it. I can assure you — trying to achieve what we achieved, mainly the low gas, requires a big chunk of experience and time :). Smart people create smart tokens.
Q6 from Telegram User @curiosoAMA
I will win 3 times more by investing in TripleX than with any other token?
Seed Master: With the help of the community, yes you will! All we can guarantee is that invested a lot of time and effort, and produced three provably efficient ways to generate yield!
Q7 from Telegram User @eeaq15
On many occasions the commissions for Uniswap are exaggeratedly high, what is Triplex’s response to this problem?
Seed Master: We managed to reduce the number of loops, taking the money from the miners to the people. the gas on our token is low because we used math to lower the number of loops.
Q8 from Telegram User @tuvalunia
Your presale is already over. What is your next important step on the way of a great 2021?
Seed Master: The next major steps are the big listings — coingecko and hopefully CMC, and the launch of our new secret token that will have a positive feedback loop with X3!
Q9 from Telegram User @curiosoAMA
I will win 3 times more by investing in TripleX than with any other token?
Seed Master: And hopefully even more! It depends on us but also on the community! so join @triplex_network_token and make sure to invite all of your friends!
Q10 from Telegram User @Joseunda
The total supply is 17,500 very low supply, what is the reason for having this amount of supply?
Seed Master: Less supply making each token more valuable. It’s the optimal point between supply and demand. We did some surveys and this is also pretty close to what many in the community were looking for.
PART 3, QUIZ AND INFO
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Triplex.Network. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 300$ were distributed between the winners.
For more information and future AMAs, join our Social Media channels:
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