MXC AMA Recapitulation-Askobar Network

Guest: Raff, Founder of Askobar

Joefilmo, Core Dev

Patz, Co-founder

Host: Molly

Introduction:

Joefilmo：

Hi all! I'm the lead dev from Askobar Network, an international blockchain application project focused on providing DeFi solutions to ERC20 tokens launched on Uniswap.There's been a huge boom in new tokens launched directly on Uniswap, which has created a lot of new opportunities. But many current DeFi services are designed for large marketcap tokens and don't work well for smaller projects. This is in large part because DeFi requires some degree of liquidity and price stability. However, we believe that the new trend of "liquidity locking" on Uniswap allows the automatic verification of new tokens for use in DeFi.

Our core team is 4 individuals with a variety of others assisting us. I'm the lead dev. Raff is the founder and responsible for managing our partnerships. Patz is our cofounder and runs our promotions and marketing. Dojo is our lead designer. We're located across Asia and North America. We're also all working pseudonymously. For me personally, this is because of the political situation here in the USA which is extremely volatile at the moment, as I'm sure you're all aware.

I'm excited to meet you all in this AMA! MXC has been a great partnership for us. We've worked with MXC's team to make sure our technology properly works without bugs on MXC's platform.

Our ASKO token is a transfer fee token which has caused some issues on some exchanges in the past. You don't have to worry at all if you use MXC - we made some special modifications to ASKO to make sure it works perfectly, and MXC's exchange technolgoy perfectly supports us!

Questions from community:

Molly: Q1. I'm a newbie in crypto and blockchain so how will Askobar Network team target and educate people who don't know about blockchain and crypto? From @mapivr

Joefilmo：

There's a lot of UX improvements for Asko that we have planned to help assist new users in blockchain technology. A major piece that's needed for new users is direct onboarding through fiat purchases. We also need to provide better explanations - our current staking dapp expects users to already have a lot of knowledge. We're working on the designs for the AskoDao, which will allow more effective treasury management and the scaling up to a larger team of UX designers and UI devs. That's what's really going to drive new user adoption - better, simpler user experiences.

Molly:Q2.Most investors only care about short-term benefits of the project. How can Askobar Network convince investors to invest long-term in your project? From @QuyenCao93

Joefilmo：

The first thing everyone should know about is our 30 day staking bonus rewards as they are quite substantial. Currently we are seeing between 10-20% monthly return from bonus rewards alone, on top of the normal rewards.However, you do have to maintain your balance for an entire 30 day cycle to be eligible for the bonus rewards.

The second piece for long term investors that's yet to be built is AskoStakeV2. This upgrade will provide rewards to stakers who participate in AskoDao. In addition to the UX/UI team I mentioned before, AskoDao will allow us to scale our promotion and dapp teams.

I'm not opposed to short term investors, but with the huge plans Askobar has, the long term investors are going to be the ones who do really well.

Molly: could u tell us the minimum balance to be eligible for bonus?

Joefilmo：The mininum balance is just 1 ASKO! However, the rewards are based on your percent ownership of the 30 day cycle pool. The more you stake, the more you earn.

Molly:Q3.Can you tell me why investors should invest long-term in Askobar Network project? What role does the ASKO token have in the Askobar Network ecosystem? From @cuongpham1997

Joefilmo：

Right now we're working on AskoLend, which is going to provide some major revenue for the Askobar network and investors who've staked their ASKO for the long term. Fees on the dapp will be paid in ASKO as rewards to stakers. They'll also generate ASKO revenue for the AskoDao to grow with.

AskoLend's technology is derived from AAVE but uses multi tiered risk pools instead of just one single risk pool.

Most people are not aware that (as noted in the open zeppelin audit of AAVE) that there is a risk of uncovered losses to AAVE lenders in the case of extreme price movements.

For the kind of smaller market cap tokens that are launching on Uniswap, these swings our normal.

AskoLend solves these problems in two ways. (1) Multi tiered pools allows investors to accept higher risk of losses in return for higher interest rates. (2) Direct use of Uniswapv2's price data removes the oracle risks of AAVE.

AAVE is a great project and will continue to operate of course! But for smaller market cap tokens, AskoLend is needed.

Molly:Q4.It's heard that next phase of blockchain adoption will be coming is Askolend. What is your views on this? What are Askobar's plans for blockchain's mass adoption? From @algojali

Joefilmo：

AskoLend is going to be critical not just for ASKO but all uniswap tokens. It's designed to allow small to mid market cap tokens to access the full suite of DeFi tools enabled by collateralized lending.

It's my opinion that the next crypto bullrun is going to be driven by these smaller tokens launching directly onto Uniswap, followed by partnerships with exchanges like MXC. Askobar is carving the path future tokens are going to follow.

Mass adoption requires all of us to do our part, especially as this 3rd (or 4th, depending on how you count!) cryptocurrency boom cycle is getting off the ground. We all need to educate our friends, both online and offline. Personally, I try to always have simple, 1 or 2 sentence explanations for people I meet so they can get up to speed without feeling overwhelmed.

Molly:Q5.Can you briefly explain what the top milestones that the Askobar Network team aims to execute before the end of this year or going to execute in future? And what Askobar Network may look like in 2020 and beyond? From @binnaise

Joefilmo：

The rest of 2020 is super exciting for me especially. Of course for the rest of the team as well! But I'm working on the prototype release of AskoLend. The whitepaper is underway as we've just finished our analysis of other lending platforms, their audits, whitepapers, and codebases, to anticipate problems we'll have and see what things we can improve.

Over the next 3 months, expect to hear a lot more about AskoLend as the prototype is released. AskoLend will underpin the other future dapps for the Askobar network, as the interest rates on AskoLend allow the creation of a wide variety of positive return dapps.

Many staking tokens just move money around from one person to another, without really generating new value. By providing a lending platform that generates positive returns, we allow the development of real value for stakers that goes beyond just speculation.

Ultimately this will create a runaway feedback loop, as positive returns bring in more users onto the Askobar Network, creating yet more positive returns and bringing on ever increasing number of users. We're working fast to get this loop started as this next bullrun starts to take off through the end of 2020 and 2021.

We're also seeing ourselves through 2021 becoming a key player in the ecosystem, partnering with other protocols focused on Uniswap launched tokens. I personally have some close friends who are developing solutions to preventing certain types of certifications to new tokens to protect investors. I forsee Askobar partnering with these sorts of projects to create a network of solutions new blockchain applications can directly plug into.

Certified presales are the future for Uniswap tokens. It's not something Askobar is directly working on, but by partnering with other projects we can automate onbaording for AskoLend. Unlike other lending platforms which require whitelisting.

Free-asking Session

Q1.Is Askobar have any Coin Burn / BuyBack system or any plans for Token Burn for increasing the value of Tokens & attracts Investors towards Stake for investments?@typhucrypto

Joefilmo：

Yes! First, we set aside a fund from the presale for a Buyback -> Burn which successfully completed in two phases. Moving forward, we're planning to continue to burn funds we don't need for other purposes for the DevFund. Eventually, the goal is to turn over the entire DevFund to the AskoDao. Since AskoDao will be completely controlled by staking investors, they can vote to burn any tokens not needed for investing in Askobar's technology.

Q2.What's the difference between Asko staking V1 and V2? When will staking V2 lauch?@Olonade02

Joefilmo：

Staking v1 is currently live at stake.askobar-network.com.

Staking v1 is currently live at stake.askobar-network.com.We are already listed in CMC and Coingecko, you may check this out here: https://coinmarketcap.com/currencies/askobar-network/

https://www.coingecko.com/en/coins/askobar-network

V1 is providing staking investors with rewards from (1) the 1% network transaction fee and (2) the 30 day staking reward pool.

V2 will provide an additive multiplier to staking investors who participate in AskoDao. Currently, Daos have a huge problem where most token holders don't vote or participate in governance. Of course the whole theory behind Daos is that crowds of people are smart! So if only a few people participate, it limits growth.

By providing staking multiplier rewards to investors who vote and participate in the AskoDao community, V2 rewards people who are doing the right thing by voting and voicing their views on proposals.

Q3.When will you list on CMC and Coingecko so that people can easily follow up on Asko Network?@Olonade02

Patz:

We are already listed in CMC and Coingecko, you may check this out here: https://coinmarketcap.com/currencies/askobar-network/

https://www.coingecko.com/en/coins/askobar-network

Q4.What phase is Askobar currently in according to the Roadmap? What are you working on this month?@Aleurich

Patz:

Our dev @joefilmo is currently working on the WP for ASKOLEND which will take days/week and then it is going to be released in 3 months or more but surely, we will update our community more about it :)

Q5.What is the $ASKO team background? Do you think you are competent enough to run $ASKO for the long term?@Herdhyas

Joefilmo：

We're operating under psuedonyms, but I can speak in general terms. For the marketing team, this is not their first project but the first to reach the size of Askobar. For me as the lead dev, Askobar is a continuation of the research I conducted in graduate school. I was fortunate enough to attend an excellent university in the USA where my thesis explored the kinds of issues around defi blockchain applications that Askobar tries to solve. So for me, there's no doubt in my mind that we will be able to build AskoLend just like we developed the new automated locking technology for Asko's presale.

Q6.Each project has interesting stories before it is created. So can you tell people about the story that gave you the motivation to build and develop a great project like Askobar Network?@Dewansarkar

Joefilmo：

I can share a bit about my part of the story!Askobar Network started as just a dream by Patz and Raff. At the time, I didn't know either of them and was working under a different pseudonym on some smaller DeFi dapps, helping build ecosystems for smaller tokens. Well Patz saw the work I was doing and dropped me a message. I get a lot of messages from people proposing their new ideas, but as he kept explaining it I saw a super weird parallel between what he was saying and the graduate school research I'd done!

So as we talked more, and found we got along super well, I joined the team as the lead dev and the rest is history. Best decision of my life in 2020!

Q7.Staking is the new trend in the Cryptocurrency industry because of the bear market, Why should I choose to stake with Askobar ?@Nickkiii

Patz:

I do agree that staking is the hot trend in the current market, well, other than the "staking reward program" we will be working hard on our Dapps to ensure that our holders/stakers will benefit from it, as we will be refreshing the pool using the revenues that we get from it.

Q8.What is your strategy to fund the marketing campaign for Askobar that will be needed to gain visibility and build a user cummunity base?heyyy9

Joefilmo：

For the next few weeks, our full focus as a team is on AskoLend as it will generate revenue and drive the ecosystem. But very soon we have to start scaling up with AskoDao. All investors who stake ASKO will get voting rights in AskoDao, which will have a substantial treasury to deploy as the investors see fit. Ultimately its up to them what percentage to allocate to marketing, but I expect at least 1/3 will go to marketing, 1/3 to core research, and 1/3 to user experience development.

Q9.Presently as at today, can we possibly use ASKO in real life for payment?@kaltumia

Raff：

Oh, I think I'm late. 😅

Btw, thank you for the question.

We have received a report that two of our supporters around Asian country started to accept ASKO token as their payment method however we received negative feedbacks on that as those are just small businesses but for us it is a huge step for Askobar and surely, we will make sure that adoption will happen overtime. For now, we are focused on our roadmap and step by step we will deliver everything.

Q10.What is meant by LOCKED LIQUIDITY of Askobar Network? What's the main benefits of LOCKED LIQUIDITY to Askobar Network?@Lanre_Akorede

Joefilmo：

Locked Liquidity is a new technique for launching tokens directly on Uniswap. For very early stage projects, the fees and other requirements for IEOs are simply too high. So many tokens are launching on Uniswap. The way it works is as follows - the team raises some Ethereum, then deposits the Ethereum along with some tokens into Uniswap.

The problem with these Uniswap launches is many scammers will then remove the liquidity later, preventing investors from being able to sell their tokens.

Proof of Locked Liquidity is a technique where the liquidity pool tokens from Uniswap are permanently locked or burned, protecting investors and guaranteeing there is always liquidity to sell into.

Askobar's presale innovation was to fully automate the process of Proof of Locked Liquidity through the presale smart contract, which meant that presale investors had their Eth directly locked into Uniswap through a trustless process.

It's these sorts of innovations to protect investors that drive Askobar Network's vision. It's what keeps me motivated to continue my research, and its the core concept behind AskoLend and the AskoDao.

Protecting investors while providing new opportunities to grow your capital.

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