Great! Then let’s start with a brief introduction about yourself and our meeting today 😉 I think it’s our first Telegram Global Text AMA after open-beta launch! 👀
Users are extremely excited to meet you here and have a detailed dialogue about upcoming V3. To be honest, everyone is holding their breath until V3 launch!
Chari
I am Chari, the creator of Metale&Read2N. I believe many of you are already familiar with me, so I won't go into too much detail. Let's get into the Q&A session sooner. Haha! Everyone is welcome to ask any questions.
Petya Petrovich
Sureee, let’s start with Q&A from WeChat Chinese community! 1. 拉香蕉的奥德彪: What is the value of the scroll in the V3 version?
Chari
In version 3, users can directly forge shares of a book, known as bookboxes, without any props. These bookboxes can be opened, and upon opening, users receive BNFT (benefits). However, if scrolls are used for forging, users can directly obtain BNFT. Considering that in the future, more users will opt for directly forging shares as bookboxes, we will reduce the production of scrolls and ultimately eliminate scroll production. When we decide to remove the scroll forging feature, we will provide appropriate items as replacements. However, we encourage everyone to use them as soon as possible if you intend to do so.
Petya Petrovich
But with V3 launch we will still have scrolls, am I right?
Chari
V3 is a major release. In the early stages, scrolls will still be available. However, in subsequent versions like V3.x, their availability may decrease and eventually be phased out. The reason for this change is that we believe the new forging system is more advanced and better aligned with our current development. In the future, in the fully decentralized V4 version, there will no longer be scrolls.
Petya Petrovich
Great! 👏 Thank you, a lot of users asked this question!
The second one: 2. 拉香蕉的奥德彪: What to do with a bunch of books with a durability of 0 (R0)?
Chari
BNFT with durability set to 0 and BNFT with durability are both considered as BNFT. They can equally participate in the copyright governance of the book and receive a share of the copyright revenue. Durability only affects the LCT (Lifetime Contribution Token) of BNFT. It influences the distribution of the work in rental income. In the future, we will also allocate a portion of transaction fees to shares and BNFT holders. Durability will impact the distribution ratio.
Petya Petrovich
Transaction fees to share, interesting 👀
Third question and the following ones will be about V3 gameplay change: 3. Y: What adjustments will be made to various props? What props will be retained? How to deal with obsolete props?
Chari
In the V4 version, there will be no props/items. As the development of V3 progresses, the role of props will gradually diminish. We encourage everyone to use the props they have rather than hoarding them. When we decide to remove props, we will provide a redemption plan.
Petya Petrovich
Wow, no props in V4 (estimated Q2, 2024) 😳 But redemption plan sounds interesting!
WattoDoesCrypto
GM Chari ✊️. I'm wondering if we will be able to see Met Mining data such as Amount Mined, Average Mining rate/day, amount left to Mine etc? I've been asked a few times In English channels is this something that is possible?
Chari
I will make sure to convey this information to my colleagues. Indeed, data dashboards are crucial, and we plan to incorporate more transparent data dashboards in our upcoming products. At the moment, our development efforts are focused exclusively on V3, which may result in some delays. We sincerely apologize for any inconvenience this may cause.
WattoDoesCrypto
Thankyou for this I know the community will value this transparency 👌
ノーネーム ||
In the previous material it was stated that video and audio content will be added in the future. When is this planned?
Chari
We will arrange it as soon as possible. In V3, content products from any category can be published.
Petya Petrovich
Then the following question about new collections and authors after V3 launch: 5. Y: How to prevent spam of new books? And pirated non-original books? Will completely unrestricting submissions have an impact on the book-holding mining model?
Chari
Own2N's gameplay will undergo significant adjustments. All rental income will be ranked comprehensively based on factors such as the total market value and transaction volume of each Collection. Works without market value and transactions will not receive a share of the rental income. Therefore, low-quality works will not affect the overall health of the ecosystem. Works with false representations will also be easily discarded by users. Only popular works will receive a distribution of rental income. They will receive higher earnings, community support, and more distribution opportunities.
Petya Petrovich
It’s huge! I saw one question about rental system, let me ask it: I will ask 3 questions together:
5. Y: If you don't need to read, how to define the popularity between collections to perform secondary distribution of income? (ANSWERED ABOVE)
6. Y: If there is no need to rent books, what new costs will be incurred by RCM and WCM? How to ensure the value of RCM and WCM?
7. 南城: Will the Genesis Book have any other functions in the future? What’s the point of Whitelists?
Chari
Yes, for 5: In V3, the rental income distribution will take into account factors like the total market value, transaction volume, community activity, and more for the respective Collection.
6: RCM will be the sole token used to mint shares (bookboxes) in V3. With more and more works choosing the Metale Protocol for Web3 publishing, there is an expected increase in the demand for RCM. These RCM tokens will be locked within the liquidity pools for each book. WCM is the governance token of the Metale Protocol. All the net profits from our platform will be used for the repurchase and burning of WCM or for repurchasing RCM and distributing it proportionally to WCM holders. This represents the greatest value of WCM. Additionally, users holding more WCM will have priority in forging when books by renowned authors are published. Using WCM for transaction fees will also provide discounts.
7: Genesis BNFT holders will have the opportunity to participate in the governance of Metale Protocol products and will also receive airdrops of our WCM token. Whitelisted individuals will be able to forge Genesis BNFT. In V3.x, whitelisted users will have the privilege of priority forging.
elon must
Please when in the future roadmap are the yet to be listed ecosystem tokens be listed?
Chari
There is currently no timetable. We will choose a favorable moment to list the token.
Hunter X
Sorry sir, interrupting the conversation. I want to ask about how much $MET has been mined?... I have read above briefly the update regarding $MET . Thanks before ❤️
Chari
I cannot provide an answer to your question at the moment. I will ensure that my colleagues release MET-related information as soon as possible.
Petya Petrovich
About Genesis I saw one more (just to cover the whole topic): 8. Russell: There are 10,000 Genesis books in total, currently around 2,000 are issued, will the platform continue to issue Genesis assets?
Chari
We will strategically provide whitelist NFTs to the market. The primary purpose of whitelist NFTs is for marketing and customer acquisition.
Orion123
do I need to rent books in 3.0 to earn RCM?
Chari
In V3, when mining with INFT, you need to pay rent. However, it is no longer paid to a specific work but directly in a certain amount of BNB.
Petya Petrovich
Chari, if Own2N will be changed a lot, what will happen with Read2N iNFT mining and renting books? There are some questions:
8. Albertz chai (蔡): Is it true that books are automatically rented if they are not needed? Is there still a benefit to holding books, especially upgraded ones? (ANSWERED PARTIALLY ABOUT BNFT)
9. Albertz chai (蔡): Does iNFT form an auto-mine RCM? Does it still need Reading Gems for repair? Does the upgraded iNFT have a higher income? (ANSWERED PARTIALLY ABOUT GEMS)
Chari
8: In V3.x, Own2N no longer requires the "renting" action. Owning BNFT is sufficient to participate in rental income distribution. Books with higher durability will receive higher allocations.
9: INFT mining is not automatic; you need to pay rent to initiate mining. Higher efficiency means greater computing power. In V3.x, luck value will be merged with efficiency value to create a new efficiency value. Users can decide whether to participate in mining on a particular day based on the current daily output, RCM price, and their own computing power value. In V3.x, gems will no longer be required. Mining will not result in any loss of INFT.
Petya Petrovich
With new rent mechanism, users will be able to rent “Energy”, but not particular books, right? They can use this energy to read any Premium book they want?
Chari
INFT mining will no longer require reading. But they need Enengy
Samaneh Saadatian گلامور
How I can get point by read of books?
Chari
We will introduce another product for users to engage in paid reading. All the revenue generated from paid readings will be distributed to authors and bNFT holders. The platform will receive a 20% share of the income. Reading can earn rewards.
Orion123
will the rental price change in v3?
Chari
No
Do you all have any more questions?
Petya Petrovich
I think the mechanics of updated Read2N area is still hidden for users, but we can check another topic about OPBNB:
10. Russell: Why move to opbnb the chain?
11. WeChat group: New books are posted on the opbnb chain, so do the old, original books, migrate to opbnb as well?
Chari
10. This is the scope of our collaboration with BNBChain. We greatly appreciate BNBChain's project ecosystem and the stability of the public chain. We believe that our cooperation can lead to a mutually beneficial partnership.
All the shares (bookboxes) in V3 will be on the OPBNB chain. However, the future issuance of BNFT for a specific collection will depend on the DAO and the chosen public chain. This is the answer for question11
Petya Petrovich
Got it, thank you! We are almost done with prepared questions.
Priyanshu
How V3 is different from V2 ?
Chari
A great change between them. You can see the video.
Petya Petrovich
Few questions about RCM:
12. WeChat group: When will RCM be halved next? If the RCM is halved again at the current price and the rules of play, it is expected that the number of people renting books to read will plummet, so will there be a newer way to play by then?
13. 小菜: RCM is deflationary and fixed in total, will later gameplay such as where RCM consumption is required be dynamically balanced or will RCM consumption be used to fix gameplay?
Chari
12 The next halving is expected to occur in 60 days. The increase in RCM price will attract more participants to the mining game. I believe V3 can bring about a completely new landscape.
Since the launch of V2, RCM has not been consumed. In V3, all casting costs will be retained in the liquidity pool for the specific book, and users can withdraw them at any time. Transaction fees will also be paid in RCM and distributed directly to the parties involved. The RCM consumed in casting INFT will, as before, go into the reserve pool for future project needs.
Petya Petrovich
It’s expected to be a game-changer!
Priyanshu
Can we see WCM cex listing In V3 ?
Chari
I cannot be certain about this. I provided an earlier response to the question.
Orion123
when will v3 start?
Chari
The 3.0.1 version will be released in mid-next month.
Petya Petrovich
I think there are no more questions from prepared list since I checked the updated version during the AMA. Everyone can ask their own questions! 👍 Before asking, please read Q&A section above.
Orion123
will something change in the rental system? the rental cost will be the same as it is now - 1 rent is 2 energy, 3 rent is 4 energy and so on
Chari
We will not adjust this mechanism for the time being. This is fair to all INFT holders.
Petya Petrovich
Chari, you mentioned that iNFT will mine RCM with Energy by renting with certain amount of BNB. But users will not need to read in this section. However, there will be another product for Paid reading with rewards. Are these 2 areas different? What is the new vision on Read2N then? Just mining as paying electricity for mining BTC?
Chari
It's a great question Metale's vision is to create a prosperous and liberated ecosystem for creators. It will never change. We will support this endeavor through NFT minting and a paid reading module. Recognizing the limitations of full on-chain interactions, we will eliminate unnecessary on-chain interactions. INFT mining will continue to serve as a significant means of generating RCM and remain a crucial source of value for Own2N. The payment for reading is quite low, similar to current Web2 products. The rewards earned will be in WCM.
Petya Petrovich
Interesting, at that time WCM logically needs to have a value, different types of it, maybe including price.
Orion123
do I understand correctly that now you don't need to read books to earn RCM using iNFT?
Chari
Not yet, in V3.x
Petya Petrovich
Which means now with V3.0.1 launch, but with the next version, maybe V3.1 or something. Thank you Chari.
Chari
We will complete the development and launch as soon as possible. Thank you for all your support.❤️
Petya Petrovich
I think we can finish our today’s AMA with Chari here, a lot, literally tons of information we got today. Thank you Chari for coming and answering most recent questions! Let's thank Chari for this meeting. With that, our Text AMA is finished for today. Thank you everyone for coming! ❤️ There will be a transcript in English after AMA.