CLOVER AMA 6/16/2021

This AMA has been condensed to only the questions and answers.

Welcome to the Clover AMA! We have selected the most popular and most informative questions from the community. The chat will remain muted as the team answers. Thank you all for joining!

First let’s allow the team to give some brief introductions for those that aren't yet familiar with them.

[Viven]

Hey guys thank you for joining us today for the AMA. Nice to be here with you all. 

I am Viven, one of the co-founders of the project. Also here with my fellow co-founders Norelle @norelleng and Burak @brqgoo to make sure we communicate all the questions the community has had for the AMA

Question:

The community is excited for the token release, so obviously the biggest question on everyone’s mind is- “When will the Token Generation Event be?”

[Viven]

Ahh, the main question we've been getting!

At the moment there is no hard date set for the CLV TGE while we coordinate the exchange listing. But there will be at least a 24 hour notice before the official listing of the CLV tokens to give the coinlist participants a heads up.

Question:

Why has there been a delay for the Token Generation Event?

[Norelle]

Thank you everyone for the patience with Clover. This is the first time that tokens are being distributed from a project directly from a Coinlist sale. Logistics wise we need some more resources to make this happen - as many of you are probably aware that we provided a last-minute opportunity for users to update their wallet addresses, however, as we parse the addresses, we are still seeing a large number of invalid addresses of which we are still trying our best to contact these users individually. It is to protect the best interest of our users. There were over 34k users who participated in our sale, which was a lot more than what we expected. We want to make sure every user has their tokens before exchange listing and also emphasizing that users will have access to their mainnet token before listing happens.

[Viven]

Adding to this, our goal from the very beginning has been to support the substrate based CLV token to launch. While we have already secured listing with some exchanges, this token standard is still new to some exchanges and we are currently working closely with a select few to have support for the mainnet version of the token on launch. As well as having support for the native bridge between our substrate based token and ERC20/BEP20

Question:

Another hotly anticipated question- Which exchanges will CLV be listed on and when?

[Norelle]

We are unable to disclose the names of the exchanges at the moment as we have entered NDA with them. However, we are sure they are great exchanges to be on. We will share them in an official announcement once the integrations are confirmed to be completed. We are very close. Please stay tuned.

Question:

What makes CLOVER special compared to other similar projects?

[Viven]

One of the main technological differentiators of our platform over other EVM-compatible polkadaot parachain candidates is the proprietary technology behind the 2-way pegs. We have created a trustless 2-way peg bridge between Ethereum and Clover assets, as well as working towards a trustless bridge for non-turing complete blockchains like Bitcoin. This will allow significant liquidity to enter the Clover multi-chain dApp ecosystem without the need to solely rely on 3rd party custodians

[Viven]

Also want to highlight Clover as a very user-friendly DeFi platform with its gasless-end user mechanism, users will be able to transact with any token they want apart from native CLV. We believe in a cross-chain future supported by a Substrate based foundation, so all of our products will reflect this future vision. One of the first that I am sure most of you have interacted with is the cross-chain extension wallet, which will be one of the foundational products of our platform- with support built for multiple dApp networks. The future releases of the platform also plans to support 'always-on' dApp functionality, where the user will be able to connect with any web3js or polkadotjs based application without the need to switch networks. There is a lot more applications we plan to build on top of both Sakura and Clover, which I will late @brqgoo cover later in the AMA

[Mike M]

Amazing! I have to admit the trustless 2 way pegs are a favorite of mine

Question:

When will the Sakura (SKU) airdrops happen?

[Viven]

Sakura $SKU airdrops for participants of the telegram bot giveaway as well as for users who have been downloading our mobile wallets will be during the first week of August

Question:

What do you plan on doing to secure a Sakura slot?

[Norelle]

To date, Sakura is being supported on the Kusama auction panel of Okex, Kraken and Bounce Finance. We are looking to potentially collaborate with several additional institutional investors as we have been receiving interest from that front. Our primary focus other than securing one of the slots, is to also deliver products that are most requested from our supporters such as mobile wallets v1 which we recently launched. Sakura will be supported natively inside the Clover cross-chain extension wallet, available in the Chrome App Store. This will give users native dApp support of Sakura, as well as access to the custom build SKU to ETH and SKU to BSC bridge.

Question:

Does Sakura need to be successful in order for CLOVER to be successful?

[Viven]

We have a very extensive roadmap planned for both Sakura and Clover, since we believe that Kusama and Polkadot will both have significant network usage and liquidity over the long term. Just as Kusama and Polkadot are sister networks, we envision Sakura and Clover to be as well. But this doesn't mean that Clover's success depends on Sakura's since they are completely separate networks. At the same time, all the underlying technology stack that Clover has built will first be deployed on Sakura. As well as the project partnerships we have, all of the dApps will first be deployed on the Sakura platform before they are deployed on Clover, which will help in network usage right from the beginning

Question:

Where is the roadmap for CLOVER? What's next for the project?

[Burak]

We’re soon putting together a comprehensive roadmap for the rest of the year. Essentially, the order of operations is (a) get Sakura sisternet up and running on Kusama network (b) secure a parachain slot to connect to Polkadot relay chain (c) launch clover dApp store across Clover mobile wallet and extension wallet (d) get a Bitcoin bridge MVP in, which means implementing the threshold signatory protocol.

[Mike M]

Amazing! Ok, so that is all the questions we had pre-selected for this AMA. In a minute we will unmute the chat, as I’m sure there are follow up questions, but please remain courteous. The team won’t have time to address previously answered questions and will do their best to keep up with the scroll. Thanks everyone!

[Viven]

Again for the TGE date questions, we will give a 24 hour notice before there is a listing to send users their CLV tokens. 

I understand a lot of you are looking for an exact date as I would be, but this is for the benefit of the community and the project in the long term. We all want the release to have as much impact as possible along with the community.

Question:

What is a pre-crowdloan and is the crowdloan decentralized?

[Viven]

Sure I can clear this up. It was a 'pre-crowdloan' initially before the kusama crowdloan module was initiated. This was to give an exclusive bonus of SKU to our community, as well as having their CLV address so we can distribute s-KSM (liquid Sakura KSM) after the auction is won. But we are officially integrated on the Kusama crowdloan module now as well, so users can participate using decentralized options like directly on the Kusama auction website, PolkadotJS, and Bounce Finance.