Infinity Gainz AMA Highlights
Lets start off with a brief description of what exactly is $WORLD?
Can you also go in depth of some of the features circled in Red on how users are rewarded by block?
Sure, world is an automatic yield token, which rewards users (later to become consumers) for holding world tokens in their erc-20 wallet. A 3% tax is applied on every transaction, which gets distributed to holders, merchants (in phase 2), liquidity providers, and the marketing wallet for advertising and development expenses.
The aim is to cater to both veteran defi participants as well as those new to crypto, aiming to be a lot of peoples’ first crypto experience so we have guides right now with step by step instructions on setting up metamask, how to buy on uniswap, and provide liquidity. We will expand this section as we move along.
as for this one, the mechanism works like this, 1% of every tx goes to the farming contract itself. Everyday at 00:00 UTC, the contract will calculate 1% of the current pool size, cut it into the next 24 hours of blocks and constantly reward all stakers with that guaranteed figure. So it gets bigger as the pool gets larger, same will it shrinking. This guarantees the rewards pool to be perpetual in nature.
Any uniqueness to your project besides numerical tweaks to code we have seen from previous projects?
As we stand right now, the biggest uniqueness will be the exposure we are setting up and spending on to be in a more mainstream light of crypto. In my experience, defi has been a rather closed gate (especially with all the stuff one needs to learn when one is new to the ecosystem) so that’s where the idea came for the education section for the website, to act as a sort of funneling as well for new users, so we don’t get overwhelmed with onboarding. Community has also been incredibly helpful in the public chat with answering questions, but we admit it can get to be a handful when there’s 40 people typing at once!
Once we have a demo of certain marketplace transactions (which we’ll release bits of over time), we should be able to have more and more of the uniqueness of the project shown and proved to all people watching us right now! But as it’s day 2 right now, we just need some time to keep working and show some concrete progress :)
$WORLD is a unique platform that combines the best tokenomics of current frictionless yield protocols for instant rewards with the additional benefits of staking in our upcoming marketplace”
Can you explain what the upcoming marketplace is?
sure, I’m not sure if you or the rest of the guys here are familiar with bitcoin marketplaces that support escrow, but there are a few out there. They take a 1% escrow fee but it keeps things simple and secure for anonymous transactions.
But given that bitcoin’s value has been what it’s been like, people haven’t been referring to it as a currency but rather a store of value, so we would want to try to take on that role as a currency. Especially if you’re a person who’s earning additional yield by holding, you are very incentivized to convert some of those yields into profit or goods instead. That’s the ideal concept anyway.
As for the marketplace, simply put it is going to be an escrow-mandatory marketplace, aimed to become fully decentralized once the features are all rolled out. It’s looking likely we’ll release v0.1 and additional iterations along the way rather than wait forever for one final product. We’ve got checks and balances in mind such as linking an eth address to any reviews left by users so one can be more discerning which reviews are just padded or more likely to be real users leaving genuine feedback, and a vendor bond to prevent scammers
It’s a lot to get into but we will release a more technical paper on it too later on so it’s more organized for everyone to read and digest. For now, I’ll say how we have it planned, in AMA’s like this :)
Can you ask about the team token unlock that will happen in 1 month 15 million tokens, before marketplace is complete?
Glad to answer, I’ve been asked this in our public chat as well but the plan is to keep reserves locked and a part of reserves will always be locked to provide confidence and security. However given our aspirations for marketing and everything, we will constantly need to be spending money on advertising, and contests/giveaways, and whatnot. So every month, we will take a look and decide if we need more funding for the following month, or decide to lock up even more tokens. Think of this as a rolling treasury for now.
If the community prefers it, we’ll announce when it’s about to be unlocked and announce when and how much we re-lock for the following month.
Explain the $WORLD Token Utility and what role does it have within the ecosystem?
What drives the demand for the token?
Once the marketplace is up, the world token will be the only token accepted on the platform initially. If any projects would want to partner as an accepted currency, that can also be negotiated given it benefits the ecosystem and participants as a whole as well.
What drives demand will be the same for any currency; people to be using it. The more people using, holding, transacting, speculating, etc. the better it will be for the ecosystem as a whole
I noticed in your telegram, there is a lot of excitement about your project. Is is important you keep the Hype alive.
Can you tell us your marketing plan moving forward?
Right now we’re trying to get our trusted guys to help mod the group, and the members who are answering questions are absolutely killing it and helping the project expand further.
As for marketing, our next step is to finish setting up banner ads with coingecko, crypto audiences, and dextools. Once that is all done and ready we will begin the far more mainstream approach of google ads, SEO, Facebook page and ads, and Youtube banner ads as well. Might be a pain in the beginning but it will help the growth long term by continuing to onboard new users and get people’s attention
Community Question — 7
Collaboration and partnerships are one of the cornerstones to making DeFi more widespread, Can UniDexGas share some of the partnerships you have formed with existing blockchain foundations recently?
Actually yes, so the gas fees are always being brought up and we have already looking into how to solve it or get some cashbacks for it for users. Unidexgas is actually being looked into as well as a CEX listing.
Stay in the loop with World Token