Binance AMA Transcript

From: June 4th, 2020

I recently participated in an English AMA on the Binance Exchange telegram channel. We have compiled all the questions and answers so if anyone missed it, you can check it out. Enjoy!

Intro.Can you tell me a bit about yourself and why did you get into crypto?

A: Hi my name is Troy Murray, I’m the snglsDAO Foundation Supervisor and Technical Architect, Breaker’s Director of Strategy, and RUDE_ Founder. I have worked in and around crypto since 2013 helping start and build different projects in the space. In 2015 I got the Ethereum bug and wanted to see how far the community could push smart contracts into the mainstream. I have a deep interest in looking for new ways to use tokenomics to free artists from the centralized systems that exploit them and have produced and directed multiple films.

SEGMENT 1 — Q&A

Q1. Can you give us a little history of SNGLS and SGT?

A1. SNGLS is the native token of the SingularDTV ecosystem. In V.1 of the system the reward function rewarded all SNGLS holders a share of the network’s profits. The long arm of the United States Government put a heavy chill on that idea and we had to go back to the drawing board. We announced V.2 of the ecosystem with the release of the snglsDAO Whitepaper. In this version we use a DAO to govern the SNGLS Media Distribution Protocol using key parameters that the community controls using the DAO. The native token of the DAO is SGT and will be airdropped to all SNGLS holders on June 19th, 2020.

Q2. Could you please tell me what SNGLS and SGT cryptocurrency is? What problem does it solve?

A2. SNGLS is used to pay for the membership fee of the SNGLS Media Distribution Protocol along with acting as a form of payment on the protocol. When we release our “Content Mining” mechanism SNGLS will also be used for that. SGT is the governance token of the DAO. SGT is staked in the DAO and gives the user their reputation in the system which allows you to vote on proposals for the protocol and control the key parameters of Transaction Fee, Listing Fee, and Validation Fee.

We are aiming to solve the problem of content censorship along with making sure artists are getting paid a fair share. We are building a mechanism that will allow the community to decide what is allowed on the protocol called “Content Mining.” Take the power away from centralized services like Youtube.

Q3. What is the advantage of keeping the SNGLS and SGT token for a long and short term?

A3. In the long term holding SGT will give you the most power over the voting of the DAO. If the protocol is successful the DAO should go up in usage. Imagine having a seat at the table of the protocol of the future for content distribution. In the short term holding SGT will allow you to vote on and present proposals to the DAO. We are going to be putting 20 million SNGLS in the DAO treasury to start off, to vote on what the DAO does with those you will need SGT.

In the long term for SNGLS I would like to see us offer staking rewards from the DAO if we can get legal clearance and align the incentives correctly, but there are also other exciting features coming to SNGLS. Specifically around our “Content Mining” mechanism, SNGLS will be the fuel in that mechanism. In the short term you will be able to stake your SNGLS in the DAO and if you are over a set threshold you won’t have to pay the “Transaction Fee.” This feature will be protocol wide for any portal that is building on top of the SNGLS Media Distribution Protocol.

Q4. What projects are now using the SNGLS and SGT stack? Tell us more about the projects currently building on SNGLS and SGT?

A4. There are currently a bunch of different projects looking to build on our tech stack. With the release of EtherVision, our open source “TV Network in Box,” next year any entertainteur will be able to launch a portal using our protocol or just add a channel to the system. Current projects building on top of us are:

Breaker: A high end content portal for independent film artists to showcase their work using the SNGLS Media Distribution Protocol. This is currently running and you should download the APP to check it out

Singular J: The first content portal that is going to be built using “EtherVision.” The portal will also have a built in Patreon like token system for artists.

RUDE_portal: This is coming from RUDE_, who have announced they will be building a portal on top of the protocol but haven’t explained much else…just a team to watch at this point.

Q5. What are the future plans for SNGLS and SGT? Do you have any exciting things down the pipeline that you can share?

A5. We have a long and exciting roadmap, but the big news is that we are about to launch the snglsDAO. The snglsDAO is going to launch on June 29th, pending a security audit. The token airdrop for the governance token is June 19th and will be 1:1 for SNGLS token holders.

Q6. You talk a lot about the SNGLS Media Distribution Protocol, can you explain for us how this works?

A6. Sure, so the SNGLS Media Distribution Protocol is the software we developed to send out media files. It’s built using Bittorrent technology, meaning that we use torrents. We take those torrents and then hash Ethereum wallet addresses to them. Creating an up stoppage payment network using the security of the Ethereum network.

Q7. Interesting, how does the snglsDAO play into that?

A7. When we first built this software/protocol many of the tools that we needed to really decentralize the entire system just weren’t available. So we left large parts of it centralized because we wanted to ship the technology. Now that the WEB3 space has matured and more complete software libraries are available for us to pull from we have started the journey of completely decentralizing the system. The first step in that is building the snglsDAO so we can offload the governance to the people. Essentially people who hold SGT have control over what the protocol becomes. We need to get that right for the vision to become a reality.

Q8. That sounds like you are planning a big build out, does the team have the necessary funds to achieve all this?

A8. That’s one of the beautiful aspects of what we built into the snglsDAO. We created a system so that in the long run the protocol is adaptive. Our goal is to create a living system that adapts the protocol to the needs of the artists, without living on the backs of the creators. See the DAO controls the Key Parameters of Validation Fee, Listing Fee, and Transaction Fee as I stated before. These levers can be pulled to increase the amount of capital in the Treasury by the DAO. The DAO has three original controls to help it adapt to needs and build outs. They are, Forum for Proposals, SNGLS Media Distribution Protocol parameters settings, and Treasury Control. In the long run the idea is to allow for the DAO to self operate and govern and upgrade the protocol.

Q9. You mentioned that you use torrents for distribution, torrents are notoriously for pirating content, how does your system protect the content creator’s work?

A9. Great question, and you are right torrents are used mainly for distributing pirated work, but the other great attribute of the Bittorrent network is that it was really the first decentralized system that was successful. Bittorrent came before Bitcoin, and proved that decentralized systems work. What Ethereum provided us was a way to incorporate trustless payment rails that could also secure the torrents to wallets in a trustless manner. But back to your original question, what we did was build a localized encryption system that doesn’t allow you to actually decrypt the torrent unless you have the local key signature to do that. So if someone had the torrent on their computer and sent it to a friend, the torrent will not work because they don’t have the keys. Those keys do not come from a centralized server, instead they are created on your localized computer. We built the first localized encryption protection the world has ever seen.

Q10. Fascinating, is there anything else you would like to share with the crowd before we dive into the next segment?

A10. I would just like to say, we are very excited to show you what we have built. The technology behind everything is simply amazing and I can’t wait for you all to really be able to dig in and start building on top of it. We’re in the process of open sourcing the software necessary for entrepreneurs to easily come in and build on top of our protocol. We are really looking forward to the release of our “TV Network in a Box” EtherVision, which will be a full node on the network so anyone can become a producer and provide content to the ecosystem. We have a couple of Airdrop scheduled for June also.

June 12th: SNGJ to SNGLS

June 19th: SGT to SNGLS

June 29th: DAO Launch (pending security audit)

If you would like more information on our airdrops check out: https://medium.com/singulardtv/airdrops-incoming-how-to-participate-in-singulardtvs-june-events-71dd5573d1aa

LIGHTNING ROUNDS WITH QUESTIONS FROM THE COMMUNITY

Round 1

Q1. As you said SingularDTV is focused on DECENTRALIZED ENTERTAINMENT

SO HERE ,

Why Entertainment need blockchain? What are the main advantage of using Blockchain technology in Entertainment social media platform ?

What advanced activities SNGLS want to create?

A1. Currently there is a lot of censorship in entertainment, what blockchain allows for is censorship resistant systems. Also the current payment rails eat up a lot of different revenue streams to the artists. Our goals are to make sure the artists get most of the rewards for their content.

Q2. Please talk more about EtherVision. From how it works to the interfaces it is going to be used upon.

A2. I’m really excited about EtherVision. We will begin to develope this after we are done with the launch of the snglsDAO. Essentially it is an open sourcing of our technology allowing other developers to come in and build on our protocol. There will be three main parts to EtherVision, the DAO, Content Mining, and Portal. Any content creator will be able to run it right out of the box and start adding content to the protocol.

Q3. Can You talk about the SNGLS Competitors?

What’s Unique in SNGLS project?

A3. There aren’t that many competitors to what we are doing. We do have some major leg ups on the ones that are out there. No one is even building anything close to what we have planned for Content Mining but on top of that our Localized Encryption System can’t be beat.

Q4. Can new developers use the SNGLS platform to build their own products? What are the benefits for developers and SNGLS itself?

A4. Yea, we are going to be releasing EtherVision some time next year and any developer will be able to come in and build on it.

Q5. What is Content Mining? It’s just a new type of incentive product? What benefits we content creator can expect from it, may I hear bit about it sir?

A5. Great question. Content Mining is the mechanism by which content gets on to the protocol. Essntially content needs to be “mined” on to the protocol through our Validator network. The big idea here is that society gets to control what society sees unlike a centralized system where the big bad corporation gets to control what you see. Take for example Facebook/Twitter, they have an army of people validating content that is on their system and they censor content large parts of the world might want to see. We are taking their army of people and giving that power back to society.

Q6. Explain more about SNGLS SHARD & ETH2.0 INFRASTRUCTURE Upgrade, does SNGLS have plans to Migrate to Ethereum 2.0

A6. Yes SNGLS will be moving to ETH 2.0 when it’s ready and the plan as of now is to have our own shard

Q7. SingularDTV has two different tokens ($SGNLS and $SGT), why did you implement the dual token model ?

A7. We liked the idea of having a Two Token Ecosystem. We didn’t want to get rid of all the functions what we had built into SNGLS so we decided that we would shelve the original idea until the law caught up to our vision and we could activate the system in the mean time we wanted to build a system that would decentralize everything. If you look at other successful projects in the space, the most obvious being Aragon, you can see that this model works. If you would like to read more about our Two Token Ecosystem check out one of mine latest medium articles: https://medium.com/singulardtv/two-token-ecosystem-38650a79ce51

Q8. Can you share with us some of the future plans, such as the marketing development plan and recent activity plan for the SNGLS team?

A8. Yea, we are going to hit the ground hard once the DAO is launched. Planning on spreading the news on all the crypto metric reporting sites out there.

ROUND 2

Q9. What your plans in place for global expansion, are SNGLS focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this?

A9. Great questions. So the protocol is world wide, but what’s exciting is the portals what will be built on top of it. The portals will need to find their niche and really drive it home.

Q10. What’s the difference between SNGLS and Theta? Why SNGLS can be more interesting for users?

A10. From my understanding THETA is simply a streaming network of transcoders…we are very different from that. It’s more interesting because we have Content Mining!

Q11.

⭕ Listing Fee: 0

⭕ Transaction Fee: 0

⭕ Validation Fee: 0

So, How does SNGLS generate REVENUE ?

A11. Those parameters are going to be set by the DAO when it launches.

Q12. Let’s say that a someone want to use your SingularDTV platform but wants to be anonymous and not to be identified,.

Can they join your SingularDTV ecosystem??

A12. Yes, you don’t have to have a https://3box.io account to use the DAO but it can help.

Q13. Are DEVELOPER GRANTS available through the DAO?

A13. Yes

Q14. As a DeEn ( decentralized entertainment ) provider, what is your opinion on Defi ? Can we see $SNGLS in a DeFi platform near future?

A14. DeFi is awesome. The DAO can interact with any DeFi system out there.

Q15. What markets will you add after that?

A15. This will be up to the DAO…I think Uniswap will probably be the first the DAO approves of.

Q16. Why should artists use SingularDTV instead of traditional system?

A16. Great questions…our entire goal is to give the power back to the content creators. We also don’t censor from a centralized system

Q17. If Im right SingularDTV build a transaction video on-demand portal ?

Would this be similar to the likes of Youtube/Twitch where anyone can upload their videos but charge lets say 10 cent for me to view it ?

A17. Yes…and anyone can build on top of it if they want and put new features in. MAY THE BEST PORTAL WIN

Q18. What solution has snglsDAO come up with to solve the issues of artists that has been silenced because they are against a particular government in a country?

A18. You should check out our Content Mining mechanism in our Whitepaper: https://github.com/SingularDTV/snglsDAO-whitepaper

ROUND 3

Q19. I know EtherVision is going to be a hybrid between centralised and decentralised content distribution. Will people be incentivised to serve the content? Like Bittorreting?

A19. Not a hybrid…people will need to serve the content into the system or pay a 3rd party service to do it

Q20. Is exchanges support SNGLS upcoming Airdrop ? What are the requirements to receive the airdrop?

A20. THIS IS A BIG ONE…we have reached out to a couple exchanges (Binance being one of them) and they are currently NOT SUPPORTING the airdrop, so you will need to move your SNGLS into a wallet you control the private keys for to receive the AIRDROP. If you want the exchanges to support the air drop you need to message them soon!

Q21. How will SingularDTV technology streamline royalty payments?

A21. It already has. The torrents are hashed to the Ethereum wallet from which the artist uploads their content. The payment goes STRAIGHT to the artist.

Q22. Which area does SNGLS focus on at the moment? (DeFi, Dapps,..) and which products/projects are you developing to support it??

What are you planning to achieve with your project??

A22. THE DAO!

Q23. Why did $SNGLS choose to build on Ethereum platform and not other platforms such as Neo, Stellar, Tron?

A23. It has the largest developer base of any platform…was a no brainer.

Q24. How content validation flow works?

A24. Check out this diagram: https://github.com/SingularDTV/snglsDAO-whitepaper

Q25. How will the governance of SNGL DAO be ?

A25. To understand the governace of snglsDAO check out the whitepaper: https://github.com/SingularDTV/snglsDAO-whitepaper

Q26. Does $SNGLS take any precautions against the negative use or impact of its products on CHILDREN?

A26. I would like to see us deploy some really awesome AI in the full node Content Mining system to handle this.

Q27. Which part of the community can control the parameters of the protocol???

A27. Anyone who has SGT token can control the parameters

Q28. In the SNGLS Media Distribution Protocol, you said that you use the security of the Ethereum network. Why not Bitcoin network?

A28. We can’t build on top of the Bitcoin network we would have to use a federated peg and that isn’t trustless. We are big into Trustlessness.

Q29: Are there any issues with the launch of DAO? Will the launch take place on June 26?

What is the reason why the SGT code went through a security check by Hacken? Have you found any vulnerabilities so far?

A29. Currently no issues with the DAO and we have it running on a testnet. If you would like to see me walk through the UI check out: https://twitter.com/RUDE_content/status/1261017527909416960?s=20

Q30. What is the meaning of your LOGO ? How does it REPRESENT your project?

A30. illuminati 😉😂…

Q31. Explain more about your LOCALIZED ENCRYPTION SYSTEM, CAN ANY NOVICE USE IT

Your goal is to goal of creating a decentralized entertainment industry, powered by Blockchain, how successfully have you been able to achieve this?

A31.Great question…yes anyone can us it. It’s built into the software and there is nothing you have to do.

Troy Murray

snglsDAO Foundation Supervisor