12 June 2018 AMA Questions and Answers
We promised to answer remaining questions that we did not have time for during the AMA. Following are the questions and answers:
1. Congratulations on a solid plan as elaborated in the white paper.
How soon would you expect the ecosystem to drive demand for the token up?
Thank you for your comments (whoever you are). We believe that demand of SENC will come with the growing ecosystem for financial inclusion enabled by the Sentinel Chain. We are doing all we can to deliver what we promised as per the whitepaper. Until then, let’s spread the goodness of SENC together!
2. Please hire a market maker
We have been, and still are, looking for a professional liquidity manager. I hope that’s what you are referring to. If you have any referrals that we can use for Sentinel Chain, please let us know.
3. How did you piss off the Chinese community?
The Chinese community has been one of our most ardent early supporters and we would like to thank them for that. Sentinel Chain is an inclusive project to help the under-served hence surely we want global participation. Both the Foundation and the technical operations teams are chanelling our energies and focus to ensure we provide an inclusive ecosystem for everyone in the development of the Sentinel Chain ecosystem.
4. There were many questions/complains posted by disgruntled investors from the original Wechat, are they the ones that dumped SENC and caused the recent discord?
We are unable to audit and verify that. Nevertheless, we would like to thank the current SENC owners and community for your continued support.
5. What is the secondary market value management doing afterward? How will you deal with a badly behaved secondary market?
At the Foundation, we believe that promoting the SENC ecosystem and enhancing the development of the ecosystem are more effective in enhancing the utility value of SENC.
6. Can you please publish the progress of listing in exchange so that investors can understand the details better?
We encourage our early supporters to watch the development of the Sentinel Chain through our official channels on Telegram and Twitter. And trust that we are doing what we need to do in terms of exchange listing and concurrently maintaining prudent use of our resources.
7. When do you expect a REAL need for SENC token to be used? I mean like when real users need SENC for actual transactions. What is the time frame ?
Please refer to section 7.7, page 37 of the White Paper.
8. Is true that team token will locked for 2 years ?
If you are referring to the lock up of the Founding team’s token shares, the lock up is over a period of 2.5 years.
9. Will you send an application for new Binance Community Coin Vote?
There are no concrete plans yet as we believe we will encounter the same hurdle as HADAX. We welcome the community to share with us their suggestions to getting listed on top tier exchanges.
Below is the Q&A log of the AMA:
1. Who are the Foundation members?
Anson Zeall: In short, I’ve been a fintech and blockchain entrepreneur since 2014. I run a company called CoinPip, invested by 500 startups which does business payouts. When I met Roy, I knew that I wanted to be part of Infocorp as it’s an extension of CoinPip’s work. Coinpip targets the underbanked. Infocorp / Sentinel Chain targets the unbanked. (linkedin.com/in/ansonzeall)
Chia Hock Lai: I am Hock Lai, one of the council members of InfoCorp Foundation, and president of the Singapore FinTech Association https://www.linkedin.com/in/chiahocklai/
Zann Kwan: Hi, this is Zann. https://www.linkedin.com/in/zannkwan/
2. Good evening Anson, & thank you for making time for this. Could you please elaborate on the type of work you are involved in and outside of Infocorp Foundation?
Basically the role of Foundation is in the White Paper. It includes promoting the ecosystem, oversight of the project, corporate activities and so on.
3. What is the strategy of SENC market price management? The price lower than ICO kinda hit our confidence with SENC though the whole market is down.
When I embarked on the project, and as I still do, I promote the Sentinel Chain project to the world. 90% of the time that I speak at conferences, I speak about the cow token. Incorporating this topic has become very natural for me now. Whilst, I do understand and empathize what you’re saying about “moving prices”, that is not what we do at the Foundation. We focus on bringing Sentinel Chain to the people.
4. Why is SENC price going down continuously?
Unfortunately, we are also disappointed that the prices are down though that’s not under our control :(. However, the project has been progressing very well. Otherwise, you wouldn’t have had the fun that you had with the #SENContest.
We just need to bring this project out to more people, get more people aware.
5. What is the current status of the Q2 exchange plan stated in the roadmap? When will the exchange phase be completed?
We are actively speaking to a number of exchanges, but the FOMO is in and the price to list is getting very unreasonable. We, as the Foundation need to make sure it’s right for the community and that it also makes sense in terms of the time and effort for the development of the Sentinel Chain ecosystem.
6. Why is your marketing so horrible?
The Sentinel Chain is young; barely 3 months post-ICO. The impressions and views of the updates to me are pretty amazing. Definitely very proud of the Infocorp Tech team! Again the Foundation is here to promote the ecosystem, and provide governance to ensure the project delivers what it promises in the White Paper.
7. Hi Anson a few weeks ago the CS posted HADAX as a possible exchange and that we are to vote so we can be listed. Is this the true?
We understand that there have been many groups created for Sentinel Chain, pre and post ICO. We did apply to list on HADAX albeit gruelling as it was, as not only is there a cost, but it needs to be voted up. If you have a look at the current top votee in the HADAX voting list and calculate the cost involved, it really doesn’t make sense for us to even proceed with the listing, let alone the marketing required to get people to vote. That said, we are still trying our best to do what’s best for the community and ensure prudent use of funds within the mandate of the Foundation.
8. How many cows have been tagged so far? what is the target and the timeline to achieve those targets?
We just had a meeting with the InfoCorp Tech team and great to say they have tagged 30 cows! Yay! But obviously there’s more to do as we need to improve the app, security, UX and so on, just like any other startup that strives well to help their customers. But if you need the exact number, I will confirm with the operations team what their target is.
The development of services, users and platform around the tagged cows is the focus.
9. What is the use for SENC token in SENC project?
The overall details of how SENC works is in the White Paper. page 26 onwards. You can download it from sentinel-chain.org.
In our view, Sentinel Chain is very powerful because there hasn’t been a project that has 1) influential partners, 2) a very tech CEO together, and 3) an experienced crypto and fintech veteran team. This makes the Sentinel Chain team unique, standing out in the ICO world. In short, Sentinel Chain is a B2B marketplace that uses SENC to connect service providers to provide financial inclusion services for the under-served.
10. Roy Lai promised an exchange listing by end of May but where is it?
As far as we know, none of the team members have promised an exchange listing. All we have understood is that Roy and team have promised to their utmost ability to deliver what we set out to do in the whitepaper.
11. What is SENC Operations team doing? Why there is no support for SENC price and the market?
The operations team is focusing on development and implementation of the proprietary system that is laid out in the White Paper. Hence, securing the right strategic partnerships (including key government partnerships, which they did in Myanmar) is the best thing they can do at the moment to support the development of the Sentinel Chain.
12. Why did you guys tease with the Huobi logo but it ended up being just a voting process?
This was not the intention. We apologize if the wrong message was conveyed. SENC was approved to proceed to the next stage on the HADAX listing, i.e., the voting process (which we got excited about) and then realized the hurdle to get it listed, i.e., the cost didn’t make economic sense at all and to proceed would not be prudent. We were disappointed :(, but we must do what we can for the community that makes sense. And for sure, promoting for votes did not make sense.
13. Can you elaborate on how the ecosystem that will create demand for SENC will come about? And how does the team and / or Foundation work towards this?
The Sentinel Chain team (tech, ops and foundation teams) are working closely to ensure delivery as per the roadmap. Please refer to page 37, section 7.7 of the White Paper.
And that’s it. Once again, on behalf of the Infocorp Foundation, I like to thank everyone for their support of both the project and the financial inclusion mission. We’ll ensure this will be the first of many AMAs in the future.
On Behalf of InfoCorp Foundation