EQUUS AMA with Denis Rybak
Aldric: Hi All! welcome to the Equus AMA.
Tonight we have @ChrisSmithEquus and Shelley with us
Chris: Hi all!
Aldric: Can you give us a quick background about yourself and how you got into crypto?
Chris: Yes of course. So I am currently at University studying Business Management and Law. My crypto adventure started back in 2017 in the “golden bullrun”. I almost got into buying the top of some random crypto that I thought had “much potential”. From there I started following the crypto world closely and started investing in crypto early this year.
Aldric: Yeah I’m a fellow 2017 crypto baby haha.
Chris: Hope your bags are getting less heavy with the current mini bull run.
Aldric: So what inspired you to transition from investor to creating your own crypto project?
Chris: Mainly the idea of creating a self-aware community. Me and another couple of friends started a group where we made calls on potential “moonshot” coins. As we got more deeply into it I realised that there are so much different gaps to be filled in the crypto world, and the idea was born there. Also we wanted to revolutionise staking. By giving people influence over where the project moves forward.
Aldric: Yeah interests in DAOs have been growing too.
So in your own words, what is Equus Protocol?
Chris: Equus is a Defi project, I believe everyone here knows what that is. In which people have influence over where we move forward through staking. Thanks to that they won’t feel left out and “bag holding”. Let’s for a second imagine that in three weeks time there will be some new revolutionary usage for Defi, they can have influence over if we move in that direction. Or if they wanna make us a horse meme coin well, we can do that too, but that will no be very rewarding for the community.
Aldric: I understand that you also reward long term holders and believers.
Can you talk more about the stake streaks and how you manage to give these high yields?
Chris: Correct, the more time you stake, the rewards get higher. Also we don’t want to penalize people who will unstake early therefore our unstaking fees are much lower than in other project.
Aldric: I see that community is something you mention quite often. What plans do you have to continue building and growing the EQUUS family?
Chris: Yes of course, so we got two levels of staking, gold and platinum. Gold gives you 0.23% EGT per day of the amount you staked, making the total 7,13% a month. However platinum will give you double that and lower unstaking fees.
Also I would like to give the voice to our core dev here to explain the technicals.
B: Hi, the dev of the coins, the staking process will involve pooling liquidity on our EQMT tokens to use the UniswapV2 tokens to stake and receive minting and staking capabilities from the dashboard on our website (coming soon).
The are burn multipliers for each user for up to x5 and a streak rank given depending to how long a holder stake 744+ hours to receive platinum rank.
Aldric: Yeah I’m sure the yields are very exciting. And seeing EQMT peaking more than 10x just proves that.
Chris: Yeah, we are very shocked of how much attention we received already…Incredible.
Aldric: Wild week I can imagine! I will now be opening the floor for the community to send in their questions. Just choose the best ones to answer.
Q: DeFi itself is already achieving many feats with the basic blockchain technology, is Equus truly essential for both DeFi and traditional finance? Also how do you plan to meet the stiff competition from competitors and to attract more user to use your platform in the future?
A: Competition is everywhere unfortunately. Equus is there for people who wish to participate in this community driven project. As for competition, well, I could say the all “we work hard we do this we do that blah blah”… We started the same way in crypto as you guys our goal is to create a community who will move the project forward with us.
Q: HACKATHON and BUG BOUNTIES are used to clearly examine Smart Contracts and identify any unsuspected Security breaches, does EQUUS have Such Program in place before Going full blown to mass adoption?
A: Yes we do, if you find something DM me or any other admins and let us know, compensation is there trust me. We already implemented some minor typos in our SM for you guys to find and for which you get some Equus. So keep your eyes open.
Q: What is your long-term vision about the industry which working on? Are you afraid some day there will be another project with more innovative technology can replace $EQUUS ?
A: Long term vision? Self aware community that grows with the project. Are we afraid? Yeah to some level, everyone is scared of something. But if there is another project better than us we gonna learn from it and compete in a healthy way with them. We strongly believe in co-operation so we may even partner with them. Who knows what will happen in the future.
Q: If a total of 10% commission is charged on tokens to be burned, how is it profitable to have the STAKE STREAK GOLD plan? Is it mandatory to have the Platinum plan?
A: The platinum rank is given only to users staking for over 744+ hours, as long as the holder holds for long periods of time there will be profit.
Q: What’s the reason for using a separate contract for staking purposes? Also can I get quick run down on your tokenomics?
A: Making it more secure. Our tokenomics so far are, community gets to influence which direction the project takes, staking rewards are much better than other “staking” projects. And the best bit is we can go any directions if an interesting trend arises.
Q: What mechanism help Equus Protocol reduce inflation of EGT token? What make Equus become an entirely decentralised ecosystem and what are its benefits?
A: We got a burning function that will reduce inflation on EGT, also there will be rewards for stakers to burn their tokens. What makes Equus completely decentralised? The influence the community has on the project by gaining EGT through staking which will be used for influence voting on where me move forward.
Q: How will you give your users full management rights?
How will users with the EGT token contribute to the full decentralization of the Protocol and be involved in future decision-making?
A: That will come with staking we don’t want to spill all the beans now ;).
Q: As a community project, what’s the limit to members actions on the governance of the project? Can members possibly push for FORK of EQUUS project?
A: Correct they can, we can develop into endless possibilites. Also I forgot to mention we have 300 eths which will be used for buy back and the tokens can be burned or to add liquidity or to make a fork. We will let the community have an influence on that. But we think a 300 eth buy backs with burning those buy back tokens is a very attractive option to vote for!
Q: Recently Equus protocol added liquidity to uniswap, My question is it risky to add liquidity to uniswap pool? Is there any chance of hacking or losing fund while adding the pool liquidity? What is meant by Locked Liquidity of Equus protocol? And What’s the main benefits of Locked Liquidity to Equus protocol?
A: So, any pooled liquidity will give you shares on the pool in form of tokens, these tokens are the tokens that our dashboard expects to stake, this is a key process to follow to participate in the staking process.
There aren’t methods to hack the uniswap contracts and as per staking processes are operated rigorously through contracts and our dashboard.
Q: Behind many projects are companies and large foundations that support it. Is EQUUS funded by any foundation or association? Are you planning to get support in this sense?
A: No, we had quite a lot of offers from some funds to get in pre-sale. But we told them no straight away. We wanted to rise alone. Once we establish our name and we grow stronger we may co-operate with some entities. Not to confuse with give them control. Our community is the most important part of this project therefore they need to have the biggest influence.
Q: Page 6 of your whitapaper states you plan to expand the ecosystem, will you be working towards being an all in one platform with LaaS and PaaS in addition?
A: That will come later as we develop the project, we don’t want to spill everything out like that in one go.
Q: EQUUS Protocol supports both mining and staking simultaneously. How is this possible, and why? And for the EQT mining, do I need sophisticated machines like BTC antminer before I can mine?
A: You won’t need mining rigs to mine, all will be done through the Ethereum network and time based staking, this will involve using our dashboard on our website.
Aldric: Awesome! It was fun hosting you guys!
Chris: Likewise! It was fun to be here.
Aldric: Any events the community can look forward to in the coming weeks?
Chris: Yes. Staking will be live soon. We want to make it perfect, no mistakes, no errors thats the reason why we a re not giving an exact ETA to not disappoint the community. But every step we move forward we will keep you updated daily! Also we’re getting more and more response from Youtubers which says it all.
Aldric: Very exciting indeed!
Please invite people to your TG group and social handles.
Aldric: Thank you guys!