WhiteBIT
Published in

WhiteBIT

AMA with Zamzam Token | Transcript

Q: Your logo looks like a gas symbol. Are you somehow related to natural resources? What does the name of the project mean?

A: Actually, our logo is a drop of water. In philosophy, water is linked to finding solutions to problems without using force. It is in harmony with nature.

Water fills every container, no matter the shape, and a river will continue to flow by simply finding the easiest way. We represent that adaptability.

The name Zamzam comes from the eternal springs of pure natural water found under Holy Mecca, which is in the middle of a desert. Our project is designed to sustain for many generations to come. Zamzam is an infinite source of everlasting good in the world.

Q: You talk about global problems on your website, including natural disasters, diseases, and poverty. Tell us how your project is going to solve these problems?

A: Our project is a platform that allows any donor from around the world to support a person or a project transparently and quickly without middlemen or fees.

Donors can discover verified projects and people with a “shopping list” of specific goods or services. Donors send ZAMZAM tokens directly to hospitals/ food providers/ contractors/ workshops etc. It can be seen through our blockchain that 100% of their funds reach the intended recipient.

We are eliminating expenses that are usually taken by traditional charities. It’s important to note that we are not a charity. We’re also a humanitarian project.

The beauty is that as the project and mission progress, all donors get to receive updates through pictures and videos. Using our DAO functions, they all choose (crowd-voting) if/when to release payments. Our project is based on transparency to help those in need.

Q: Your website has a solid list of partners. Nowadays, it’s crucial for crypto projects. Tell us about your partnerships, please.

A: Our partners share our vision for the future. They are emotionally and financially vested in Zamzam. They donated resources and funds to support our project.

Most importantly, our partners will test the Beta network and will be the first companies to officially accept ZAMZAM for payments, paving the way for our major milestone: to be a mainstream currency.

Q: Why did you choose the BSC network for your project?

A: We are huge fans of the BSC network. Mainly due to its simplicity, speed, and extremely low fees. Besides, because it is owned, designed, and operated by Ethereum, making it fully EVM compatible. This gives us and our users confidence that it will be here for a long time.

The ecosystem is growing, while fees and speed remain the same. It’s a DeFi project built for mass adoption.

Q: We want to learn more about your project. Does Zamzam have any communities for us to stay updated on?

A: We stress that people must take all their information and updates from our official social media channels (Instagram, Twitter, Telegram).

Our team insists upon full transparency and complete honesty regarding our achievements, success, and even mistakes or failures. We believe that it is best to update our community via our social media. We make regular announcements on our updates to keep things transparent and open.

Social media is a double-edged sword because of its speed and range. Rumors and misinformation can harm people and projects. However, together we can combat that.

That’s why we decided to do this AMA — to answer all your questions openly and transparently in public. Our main community is on our official Telegram and Facebook pages: @zamzamtoken.

We were surprised and flattered to see several new communities and groups organically growing around the world on Facebook and Telegram. They believe in our project and support us. For more specific questions, contact support on our website, www.zamzam.pro.

Q: Could you please elaborate more about your tokenomics? What’s the total supply, and what future plans do you have regarding ZAMZAM unlocks?

A: Our tokenomics is clearly described on our white paper, which can be found on our website.

It is important to note that the team and founders who own 15% are locked in for 3 years.

We are going to review our position every 6 months to decide if we release a maximum of 0.75% into the market. We will keep 20% for liquidity. 40% is reserved for partnerships and ecosystem development. There is an additional reserve of 25% for safety.

The market will dictate the number of tokens minted and unlocked (and to whom). The main wallet, as well as founder wallets, will be clearly identified on our website soon.

Our maximum supply is 100 billion. Founders and investors hold approximately 15 Billion tokens. Our goal is to circulate 5 billion tokens on exchanges and mint 10 Billion for partners and strategic investors. We don’t want to just raise funds. Our goal is to align with institutions that add value to our network. We work with those who can support us in implementing the blockchain network into a reality. We don’t need funds. We find value in connections and networks that share our vision.

ZAMZAM unlocks will depend on trading volume, price, and specific team goals. We plan to utilize up to 30 Billion tokens in the first phase (20 years or so) and leave 70 Billion tokens for future generations.

As the value of the token increases, we hope the lifespan of the project follows. We predict minimum project sustainability of 100–200 years.

Q: Since Zamzam is a charitable project, I would like to know about its transparency. Tell us about the distribution of each charity event that is carried out?

A: Our team members may undertake charitable projects at their own expense. However, Zamzam is not a charity. It is a humanitarian vision to spread good around the world, to connect people and projects in need of support with donors from their community and from around the world. Together we can do more good.

For example, a person in a village with no funds, connections, or exposure decides to create a new project on our platform. They create a profile and a project page with all the details about their vision, including who they are. For example, a solar plant in the desert, water purification in a village, or a cancer patient that needs treatment.

The project owner then gets quotations from verified establishments (we use KYC, biometrics, and/or video interviews), including hospitals, contractors, food suppliers, material suppliers, restaurants, etc.

The project owner then creates a shopping list of specific needs (description/cost/invoice). In case of treatment — hospital bills, transport, accommodation, and food.

Once the total funds covering the costs are sent to the platform in ZAMZAM tokens, they are released based on time/progress determined by donors’ voting.

When the project is concluded, and all funds are released, the project owner and establishments are rated and ranked. The more projects completed, the higher goes the rank and trust. That’s how good people and establishments get exposure while doing projects in a transparent, sustainable way. Their pages can be edited like Wikipedia. Initial support will come from the project owner’s community. As their credibility and rank increase, the support will become global.

I am sure you can see how this project is perfect for solving real-world problems using blockchain technology.

Q: The biggest challenge for many projects is related to the current market conditions. Can you explain why people should participate in the long-term development of the Zamzam ecosystem?

A: We believe there is a lot of good in this world, and a lot of people want to do good. Supporting desperate people in difficult situations will be an everlasting need. When market conditions and the global economy are especially bad, there is a greater need for projects like Zamzam.

Being part of Zamzam means being a part of a global network that believes in good. The more that faith grows, the more our network expands, and the more people use and accept ZAMZAM as a form of payment. Our vision is to be a mainstream currency that represents generosity, selflessness, care, and empathy.

Fundamentally, ZAMZAM can be used to buy a car or house, but it can also be used to help others. That’s the difference between ZAMZAM and all other tokens out there. We represent a new idea.

I want all traders to remember this is a long-term project. It’s not designed for a quick increase in price or profit.

Q: How long does it take to create a project like Zamzam, and what are the main values for your team?

A: We estimate that we’ll need 3 years to have a successful ecosystem that proves the ease, significance, and importance of a project like Zamzam.

Our validation will come once our first project is successfully implemented. Just changing the life of one person will be considered the biggest success of our team. We’re sure that we can help billions of people in need. The beauty is that we’re unlocking the potential for good in most people. It’s an innovative method to heal the world using blockchain technology.

Q: Could you please talk about the Zamzam development team? Did you work together before, or are you a global team?

A: The co-founders of Zamzam and I know each other well. For over 40 years, we have been close advisors for each other. We’ve been through difficult times and have always supported and carried each other. That bond is the magic formula of Zamzam. Every member is invaluable and irreplaceable in their own way.

We all strongly believe in the mission and vision of Zamzam. We are extremely confident that we can make the world a better place.

Our strength is in our diversity and vast experience from different industries and backgrounds. We have experience in telecom, information technology, accounting, military, training, real estate, stocks, construction, manufacturing, transport, engineering, banking, consultancy, food and beverage, retail, marketing, and writing.

The founding members have come together as a dynamic team. We are heading towards accepting, hiring, and absorbing new team members from around the world.

If you believe in our vision and think you can add value, please don’t hesitate to reach out to us. We would love to have you.

Q: Are you or other Zamzam founders involved with any other tokens or crypto projects?

A: Zamzam founders have never been (and are not currently) working with any other token or crypto project. Our memorandum of association clearly states that none of us can work with other token or crypto projects.

We have no association, affiliation, or partnerships with any other tokens.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
WhiteBIT

WhiteBIT

WhiteBIT is a crypto exchange platform. We guarantee security, reliability and lower fees for our users. Trade your way with us! https://whitebit.com/