MOONSHOT HUNTERS AMA
Q1
Can we start off with an introduction, what is the world? What is your aim and vision for the token?
A1
Sure so world token itself is a frictionless staking token mixed with yield farming. The 3% tax gets redistributed from every transaction to the holders, the LP providers, and the marketing/development wallet.
The main product will be the decentralized escrow-based marketplace, followed by the p2p exchange which is essentially fiat onboarding directly for world tokens.
Q2
Brilliant, and where did you get the basis for your idea? Any projects which helped you create this vision?
A2
Well it wouldn’t be fair of course to not give credit to the first project that made frictionless staking go live, which was RFI. They’re some talented folks but I didn’t want something like this to just stop there, so I set out with my own goals to accomplish. As for the escrow marketplace, well I just notice there’s a number of marketplace tokens and coins that aspire to be a marketplace coin/token but oddly escrow isn’t a very common feature. Given that blockchain tech is all about trustlessness I found that rather odd that it’s a severely underserved part of the market, and could easily be adaptable for more than what escrow in real life is traditionally used for (usually between banks, house purchases, securities, etc).
Q3
Brilliant, lets dive into the escrow system a bit more. Can you firstly tell us how it will work, and secondly give us some real life examples of how a regular MSH member could use it?
A3
With pleasure! I’ve designed the initial version to be rather simple. You as the buyer, will pay tokens into the smart contract. For services, I may add another step of allowing the seller to decline your order here if they are at full capacity. You wait to receive your order, then when the seller marks as delivered, you’ll then be able to decide to release the escrow or request a refund. Requesting a refund will start a dispute process and get a third party arbiter to resolve the issue. There’s still processes to be created to make some steps fully decentralized but that’s the general order flow!
There is no tax for refunds, and the 3% sales tax will apply to released escrows (feeding the rest of the ecosystem and pushing that volume)
Q4
Interesting, so your an Ebay on the blockchain. And where will the 3% tax go?
A4
Once the marketplace is live, the 3% goes to holders, merchants (will be a separate allocation), liquidity providers, marketing/dev wallet.
Currently there’s an expected split of 1% between the holders and merchant pools but we could keep the holders as just 1% and reduce the marketing and dev allocation instead but we’ll handle that when we’re closer to that phase of the project
Q5
Brilliant, and skipping ahead quickly to goverenence, is that handled by the team or is the a voting system in place?
A5
Handled by the team. I like the idea of governance but I figured might just not be the best model for this project. Maybe something to save for another project we’ll work on in the future, if any :) There’s a saying in marketing about not trying to be everything for everyone, otherwise you will end up as nothing to everyone.
So for now we’ll just be following the set roadmap!
Q6
One thing ebay has problems with is the dispute process- can you go into more details on how this will be done (if that’s been set yet)?
A6
Yeah one of the more decent dispute processes that’s proved fairly successful is the ones on sites like paxful/localbitcoins so we’re modelling after that one. When decentralized I’m playing on the idea of using that escrow model but with the arbiter being something like how the proof of staking is on ETH 2.0. For those who are unfamiliar, there’s people who will stake tokens as “validators” and a random pool of 100 people who are validators will be asked to vote on how they think a dispute should end. Still working out the kinks though! Extremely early development ideas haha
Q7
Lets move onto tokenomics! How did the project come to life, through a presale or owner funds?
A7
We raised funds! These days you need funding and marketing even to get a presale out there, let alone a public listing on top of the costs for development, any audits, partners, marketing, etc. Much more happens behind the scenes than meets the eye for launches haha
Q8
Are all the presale tokens unlocked or is there vesting?
A8
Completely unlocked, we needed their funds for liquidity and initial marketing post-listing after all, I figured who am I to lock them out of selling. Heck if you look at the chart you’ll notice an instant dump out the gate after listing, before we had our meteoric rise. Bet those guys hit their heads on the wall a day after haha
Q9
Can you also provide a breakdown of the token structure, team, marketing etc
A9
Everything here is in circulation outside of the 1M initial burn, and we have 15M of marketing funds locked up. The liquid one amount has so far been used to pay for some marketing (though most are paid with eth), bring on a stellar new advisor, and do our first contest giveaway.
Our new advisor has an exclusivity contract with another project right now but once that expires, we will be going public with him! Sorry this part is a bit off topic haha
Q10
Okay next moving onto community . Which is extremely important in crypto, How do you actively engage your community?
A10
I think the community can vouch that I’m active all days of the week on the chat. For the first few days, I don’t think I was sleeping very much between answering questions, and doing the administrative work needed to get us set up (with the listings on coingecko, etherscan, etc)
Until now I try to be active on there as long as I have the time to! I answer DMs but a lot of the time they get buried very quickly.
Yesterday actually we had an impromptu AMA in our official chat! Our community is definitely something else
Q11
Security- Do you have an audit?
A11
Yes, so our initial audit has been cleared by both Solidity.finance and Shappy from WarOnRugs
Marketplace contract for sure will be audited, and we have a small contract for those who are having issues with the higher gas for our token on uniswap being released in the coming days. After that, if we need to raise more ETH from our treasury tokens for expenses, it will be done on an OTC vesting contract (which will earn holder rewards), so this contract will also be audited before going live. This way we can raise funds for expense without hurting the price on the open market. Listing fees can be quite high for larger exchanges after all.
Q12
Last question from- What is your long term vision , anything outside of what you mentioned you would like to mention here?
A12
Long term we’ll eventually be hands off. I’d like for at least the marketplace to become somewhat autonomous, proving that decentralized marketplaces are truly the way to go. IPFS, decentralized dispute process, and all that good stuff!
The team and I are here for the whole ride toward that though!
MOONSHOT HUNTERS COMMUNITY QUESTIONS!
Q1
I read at your roadmap that you plan to Partnering with existing DeFi Projects. Can you tell us about this projects? What kind of things are you weighing when looking for a partnership?
A1
Trust is a big factor. We want to partner with projects who have already established that they can be trusted by their community. Another is transparency. We’ve been transparent and have shown any real project can and ought to do the same. That said we’re looking at one fairly bigger project to potentially be a merchant on the initial release of the marketplace already! So much earlier than I expected
Q2
You have very good products, so which one are you currently focusing on developing?
A2
Right now we’re fixing up that batching for the 3% tax for the smaller buyers, then we’ll do the OTC contract so we will be able to raise funds properly for treasury. After that it’s full steam ahead for the marketplace development!
Q3
As per roadmap May to June, 2021
Launch of online store platform, can we spend at local merchants, and it works even when traditional payment infrastructure doesn’t?
A3
No we aren’t going to be partnering with any brick and mortar; it’s going to be a purely online marketplace closer to the likes of itch.io, ebay, gumroad, etc.
Stay in the loop with World Token
Community: https://t.me/worldtokenann
Announcements Channel: https://t.me/worldtokenann
Twitter: @worldtoken_
Website: https://worldtoken.network/Uniswap: http://tinyurl.com/UniswapWorld
Coingecko: https://www.coingecko.com/en/coins/world-token
Coin Market Cap: https://coinmarketcap.com/currencies/world-token/
