Blaze: Great to have @ERCSU and @EXNETB from Exnetwork today here with us
Eric: Hey @Blaze420s and everyone!! Glad to be here
Blaze: Could you please give us an introduction about yourselves and the team and what is this Exnetwork all about?
Aldric: Hey all glad to be here!
Blaze: Welcome my man.
Eric: I am Eric su, bit.ly/ericsulinkedin I am the founder of Exnetwork a community of investors, traders and general fans of crypto. We run a bunch of groups like @exnetworkpublic, @amaroom @thecryptroom @defiroom @farmingroom and @theotcroom. The team is just me and @exnetb
Blaze: Great I am a member of quite a few of those rooms.
Aldric: I joined Exnetwork initially as an investor post 2017 bull run. But have since been helping out to help make the pool more efficient in some ways :)
Eric:
Blaze: Very impressive. Alright, what is Exnetwork exactly?
Eric: We have a very private group and have been investing in deals. We have been doing really well and decided to evolve the group recently towards becoming a proper DAO.
So the Exnetwork we are talking about now is to get all of us together into a Social Finance (sOFI) DAO and achieve better results.
Blaze: Could you elaborate a bit more for the layman please?
Eric: The goal is to become this hybrid of investor community + incubator DAO
I hope this is layman enough. :)
The deck is here: https://docsend.com/view/9h374xqjvqs6vw5u
Blaze: Very interesting. What is the philosophy behind SoFi?
Eric: Social finance is a concept of building the social layer on top of the blockchain. It is a manifesto of using tokens and the blockchain to bind a community towards a stated goal. Whereas a DAO could be about anything like building a software project or maintaining a product roadmap — A SOFI token has features and properties to make a community more cohesive.
Aldric: Think of it as a way to make the investing experience more social. And to build a proper Dao around it to make sure the community is more involved not just though investing but also in terms of helping the project evolve.
Blaze: Why did you do this instead of starting a fund?
Eric: A fund is very mechanical and singular. and the goal is not very attractive to me. Their goal is just to 10x to 100x rich people’s wealth. a SOFI group like Exnetwork DAO, aims to really make the output more than the sum of its total via social designs and build a family that is binded by blockchain tech,.
Blaze: Gotta say I’m getting more and more intrigued
So I see you have different levels of membership. why is KYC important for the higher tier memberships
Eric: The KYC on higher levels is important as a lot of our future deals will be in coordination with project team (of the token in the deal) itself. And there will be airdrops in the future. Just easier legally to be able to do that only in the KYC tiers
Blaze: Makes sense. What are the requirements for the different memberships?
Aldric Yao:
T1 = top 15 stakers + kyc
T2 = 150k exnt + kyc
T3 = 50k exnt
Eric: So we have 4 tiers
Tier 0 — are team + volunteers for Exnetwork that we have selected for their special skills
Tier 1 — are the top 15 stakers of EXNT
Tier 2 — are those who stake 150,000 EXNTs at least
Tier 3 — those who stake 50,000 EXNTs at least.
Blaze: Always enjoy asking this type of question. What was your favorite deal? Which one had the best ROI and was it expected?
Eric: The tiers dictate who gets the deals first and their caps/limits per deal
Oooh. this is an easy one
ORION PROTOCOL!
Eric: We were the only group who believed in them during the worst of the bear market and choosing them was really a test of our picking abilities
Blaze: Talking of requirements, you have just completed your private sale and the public sale is in the next hour or two. Where can our members go to find out more about the public sale?
Blaze: We must be brothers, because Orion Protocol is my fave one too.
Eric: The details of the sale will be announced at @exnetwork and @exnetworkpublic. it will be on bounce.finance.
Blaze: Can you explain the difference between EXNT and EXNG token
Eric: EXNT is the main SOFI tokens and binds everyone to the group. You stake it and get access to the tiers as well as farm EXNG — the governance token.
EXNG is not sold anywhere and will allow any member to propose changes to the DAO. and also exert control over the 9 crypto tools we are incubating.
Q: What’s the difference between DeFi and SoFi because We all know that DeFi will not replace Traditional finance institutions, so how do you seek to create an ecosystem that will allow both interoperate together?
A: DEFI is purely about putting centralized finance functions on the blockchain, SOFI is about designing a token to bind a group or a community.
Q: What is your strongest advantage that you think will make your team leading the market? In contrast, what is your weakness? How do you plan to overcome it?
A: Strongest advantage is our teamwork and a fun environment for investing and getting good gains while helping good projects flourish in a very competitive environment.
Q: What is your strongest advantage that you think will make your team leading the market? In contrast, what is your weakness? How do you plan to overcome it?
A: Our weakness was we could do stuff together a lot better. hence why we invented our SOFI tokens.
Q: Do you have any plans to attract non-crypto investors to ‘#EXNT’ because it is the success of a project to get more investors who are still not in the crypto world. Specially as a new entering project to the crypto world,What are the plans to increase awareness about ‘#EXNT’ in non-crypto space? And what region is in your plan?
A: We are focused on crypto savvy people for EXN. Altho We will be supporting SOFI projects that aim to educate regular people thru a SOFI token via the EXNG SOFI grant program.
Q: What are the DIGITAL ASSETS needed to stake in #EXNT ? and what minimum DIGITAL ASSET is required for STAKING ?
A: You can stake $EXNT tokens to earn $EXNG tokens. Will require 150k staked to be able to start earning EXNG. The longer the lock up you choose, the more EXNG you earn per month.
Q: Which Major Achievements are done by Exnetwork in this Year and What are the plans for next?
A: Just crazy ROI for everyone. :) i think we are up 30–40x as a group.
I think the reputation of the group as a whole and the gains we achieved this year are two very material ones.
Q: Exponential network operate a dual token ecosystem — EXNT and EXNG. Is it necessary? What are the benefits of a dual token ecosystem and how do holders of both token get value for their money?
A: Good question: We had to separate it cuz EXNT is full of utility. Read the deck to explore all of the uses of it. EXNG is necessary so we can only award the governance to TRULY DESERVING members.
Q: How do you intend to coordinate between individial sale max caps, number of members and tokens required for any given tier? This can soon become a problem with members in different tiers increasing if allocations for projects stay relatively the same. So is there going to be some regulation regarding number of members allowed in the group or tokens required?
A: We have a FAIR SHARE ALGORITHM that we will be implementing soon.
Q: As I see, there are a lot of people create fake EXNT token to scam users, so do you have any plans to solve this problem?
A: For the current problem, we suggest everyone to follow only the official channels.
As for scams, like those in otc, we want to use EXNT as a form of collateral so penalize those that do not fulfill their end of the deal.
Q: The community of any project are its greatest asset. How well does Exponential network value community feedback? How can I contribute to Exnetwork community projects and events?
A: SOFI is 100% Community. DEFI is 100% technology, DAO is 100% structure.
Q: What are the ways is EXNT generating profits/revenue to maintain your project and what is its revenue model? How can it make benefit win-win to both investors and your project?
A: We will be earning mainly thru fees which the DAO will have freedom to decide what to do with.. theres also a reserve of EXNTs for the DAO to utilize
Q: Many projects claim that they are completely decentralized. But they do their job in a centralized way. How can we be sure that #EXNT is fully Decentralized? Can you tell us what the #EXNT method works?
A: The decentralization will take its time. Through the mining of the exng tokens, we slowly move towards the goal of being a DAO. This will also require more involvement from the community since almost all initiatives are spearheaded from within the team.
Q: DeFi is one of the trendy subject matter in the blockchain space. Can you share your opinions and insights on DeFi with us. Do you think that DeFi will disrupt the existing financial system? What is #EXNT approach towards the DeFi sector? We would love to see #EXNT on Defi?
A: I think DEFI is just getting started. when u survey a lot of people outside crypto. they dont have any idea what it is. DEFI has real utility. they ecosystem just need 1–2 year of maturing before mainstream uses it.
Q: With the appearing of many blockchain projects, especially payment project which has newest technology, scalability, effiency, even no fee on transaction. Does #EXNT feel pressure from this on the race of global payment solutions?
A: We are not a payment things. we have tokens to make a group be better.
Q: Do you have a criteria for including people who will join in the Pooled Social Finance, something like credit score?
A: Just staking the tokens. Bad behavior will get your staked EXNT slashed by 25% to 50%.
Q: What is Exnetwork strongest advantage that you think will make your team leading the market?
A: We don’t plan to “lead” the market. our focus is helping each other gain more wealth by supporting good projects. and doing this a tight social network.
Q: Partnerships are crucial for Adoption, so can you tell us what partners you have currently and future partnerships?
A: We have partnerships to announce in the next few weeks. They won’t be fairy fake partnerships either.
Q: Are there any other plans in preparation besides staking to survive a “potential” bear market?
A: We have a bear market mode. and this is design from personal experience where i still grew my portfolio. Our team has expertise in investing, OTC, info arbitraging, trading and product building we can leverage.
Q: Is your EXNT token inflationary or deflationary? Is the current supply final?
A: It’s fixed supply.
Q: As an investor, why should we invest in the EXNT as a long-term investment?
A: It’s not speculative. its loaded with utility. you buy it to gain access to UNIQUE DEALS, you buy it to join our community.
Q: I am interested with EXNT project incubator. I see that EXNT have already 9 project in line. Will EXNT directly involve in such project or more like advisor? What does the project gain with partnership with EXNT? And how do you feel about those 9 projects? I assume, you vouch for each projects personally?
Another question: you state that EXNT has other benefit than similar DAO in bear market? Can you share some of it?
A: The projects are based around the concept of
what is lacking in the crypto world that no one is going for
our first incubatee is called GatherDAO
its like a primablock product but with built in DAO features.
so as part of the EXN family. GATHERDAO will raise its seed round exclusively for EXN
and will only accept EXNT as the currency.
its a lowcap, high utility and very pragmatic project.
the next project is Codename ONI: a mobile app that combines Telegram, discord and Twitter for maximum crypto edge.
if you like the concepts of these 2, the next 7 products are as good
Q: Can you tell us a little more about how you landed on your products offerings in the ‘Tools to build’ part of the pitch deck? Specifically interested in more information on the ‘Asset Sale’ mechanism.
A: The ASSET sale is a deal where we offer a really hot liquid asset and sell it to the group at 30–20% discount.
We just held an Asset sale for DIA at 30% discount.
Q: What kind of unique features does ExNetwork have over its competitors on the market? How do you plan to increase the demand of $EXNT tokens in the future?
A: We’ve always had utility in mind to gather the adoption. The first and foremost is access to the private groups. This is what led to the very fast selling out of the private sale. This is the reason we believe staked EXNT will be high as well which would decrease supply in the market.
In the future, as laid out in the deck, more utilities will be adopted for exnt such as currency for seed projects, security deposit and more.
Q: There are rumors you are also planning to do own crypto related projects and incubate them through the Exnetwork. Can you already give us some details about that?
A: I just did. I‘ll share more.
Even at high multiples in OTC, very few are selling. That tells us something about people’s perception of exnt’s utility and potential
ALL OF THESE, are exclusive to EXN
Q: What are the ways that #EXNT generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project?
A: Mostly fees.
Q: Could you please shortly explain about the top milestones and objectives that ExNetwork is aiming to execute before the end of year 2020?
A: no. 1 goal is to offer good deals
no. 2 is to incubate our internal projects properly
no. 3 is to become a full DAO with a good culture
Q: Can you please tell us some of your partners at ExNetwork and who you plan to collaborate with in the near future?
A: Our partners will be people who understand the vision of the projects and will mostly come from people we have a long relationship with.
Q: How will the EXNT tokens actually be used in your ecosystem? Do you have some long-term incentives for the token holders such as staking?
A:
Q: What are the STAKING BENEFITS for HOLDING
DeFi is the new frontier and already buzzing in 2020, what roles do you play in innovativeness of DeFi and what’s your approach to DeFi and ultimate DeFi solutions
I am an ETHICAL HACKER AND EXPERIENCED DEVELOPER, do you have plans for HACKATHON or BUG BOUNTY so as to check the security of your ecosytem periodically
A: You farm or mine EXNG and get access to good deals.
Q: What’s your plans to make the liquidity more strong?
A: We will only support DEXs. we wont pursue CEX listing. i personally think everyone should 100% support DEXes.
CEXs charge projects $100k to $500k to list, for no good reason. This led to project raising more money.. and then this lead to bloated raises.. and rekt everyone.
The collapse of the ICOs can be traced to CEXs,so all of our projects will not pay for CEX listing, as a protest.
Q: Do you have a roadmap
A:
Q:What do you see potential Partners with the Moonwalker’s?
Because i see many projects to the moon if tehMoonwalkeR’s share this project in the Twitter.
A: we are good friends with the chief Moonwalker and enjoy working together in various ways
Q: There are lots of Project coming these days & The Main problem with many project is Adoption, How does ExNetwork plan to Achieve #MassAdoption?
A: Good question. Thru pure teamwork. We believe the SOFI tokens will make us a very strong force over time.
Closing Remarks
Blaze: Alright guys. No more questions.
The team will try their best to answer the last questions but they have an imminent public sale to attend to.
Eric: Thanks everyone . PLEASE BE CAREFUL. WE just saw 10 fake EXNT tokens made the last hour. WE HAVE NOT MINTED THE TOKENS YET.
Please focus on @exnetwork for official info about the sale.
Blaze: Thanks so much guys. Must say, very impressed with what you had to share with us today.
Eric: Join our group @exnetworkpublic to chat about it.
Blaze: I for one will be diving deep and exploring opportunities you have to offer!
Eric: Thanks @Blaze420s and @tehMoonwalkeR for letting us be here
Blaze: Best of luck with your public sale and I am sure we will see you back in here again in the near future
Aldric: Thank you everyone and we look forward to new faces in our community soon!
Blaze: As for the prizes everybody, the team will announce the winners on Thursday.
Eric: Love this group. good gem picks consistently!
Blaze: Appreciated my man
