AMA RECAP: 420 DAO X Dubai Crypto Bulls
On the 21th February, 420 DAO held an AMA session where one of our Co-founders, Mr. Tien Do, successfully represented and spread awareness about our project among the Dubai Crypto Bulls Community.
The session was held in three parts, Introduction, Community Questions, and Open Chat for Telegram Community. If you missed this insightful session, here’s another chance to get a glimpse of all that transpired during this session through this AMA Recap.
About 420 DAO: The project is a revolutionary DAO that has established a dedicated community of crypto proponents, thought leaders, builders and investors. The 420 DAO ecosystem is powered by 420 token that has in-build properties such as Store of Value, Membership Value Governance value.
PART I. INTRODUCTION
Host: So before we start learning about “420DAO” would you like to introduce your good self first and how did you get involved in Crypto? Also what is your role in “420DAO”?
Tien Do: Hi everyone, my name is Tien Do, one of the early members at 420 DAO, also the designer of its tokenomics. My background is in math finance and I graduated from ENS Paris, which is considered to be the best French school for Mathematics.
I used to work as an Options Quant in BNP Paribas in Hong Kong, and Director of Structured Products and Strategies at Barclays in the UK.
Currently I’m advising the Ho Chi Minh Stock Exchange (HOSE) in Vietnam in market microstructure and product design.
Here is my LinkedIn. I got into crypto in late 2016/early 2017 and have stayed involved more than ever before.
Let me also take this occasion to introduce our DAO’s early members
- Thanh Nguyen — our Tech Lead graduated from Applied Mathematics from Paris Sorbonne University and has extensive experience in Virtual Survey Simulation and Real Time Big Data Analytics. He is an expert in designing solution architectures for scalable systems. He is here today with us @ctnguyen
- Colin Platt — our Strategy Advisor is an NFT expert, industry thought leader and speaker, also CEO of Unifty. You can listen to one of his sharings here: https://www.youtube.com/watch?v=lbPGyU6W4ZU
- Khanh Do is a coding prodigy, member of Vietnamese national team in International coding contest.
- Vanessa Tran is an Oxford Alumni and is honored thanks to her public service in the UK.
- Tri Vo is a business school professor in Paris, France.
- Hai Vo is the Vice President of the World Martial Arts Union. He’s a fighter 😉
Host: Can you explain the “420DAO” project, how does it work? what have you done until now?
Tien Do: Thank you for the question. I guess we already know what a DAO is it’s basically a crypto community governed by smart contracts, guided by the mission and common interest
Our project, 420 DAO, is a coordinating and supporting body for the development of decentralized economies. Our mission is to together build the right decentralized digital future.
420 DAO system works with the token 420 at its core. The token represents governance and membership rights for the member. It also represents ownership part of the Treasury.
We have almost finished developing the smart contracts and the dApp which will allow users to have a very easy experience when interacting with the token. We are currently running a HackaDAO which selects early community members to try out the dApp and win a prize. This is a brief summary, we can go into details later.
Host: What makes you stand out from others? Also, what benefits do investors get who chose to invest in 420DAO?
Tien Do: The first strong point of our project, compared to other DAO, is that anyone can join 420 DAO. It’s OPEN for everyone.
Secondly, 420 DAO system is powered by very advanced tokenomics, which has been carefully researched and designed. Our tokenomics are governed by mathematical equations with some of the ideas borrowed from Bitcoin but also mainstream Fixed-Income instruments.
We hope by having this cutting-edge tokenomics that we can protect its value and hence its members ! We will share more details later in the AMA.
Now the question on the benefits
What users can get from 420 DAO is the long-term benefits. They will be able to benefit from the investing activity of the DAO, but also from tech projects that the DAO will be building. Please have a look at our core missions on our website 420da.org
Ultimately all these will reflect in the token price. Our tokenomics will make sure that long term holders have handsome rewards from the success of the DAO.
Also, as members of a community, members will get non-financial value such as knowledge sharing, education about crypto market, trading, and other intangible values. This is highly valuable as well in this highly volatile markets.
Never mind I’ll send out info about tokenomics later.
Host: Could you share a bit about security and also can you explain about your project tokennomics?
Tien Do: Great question. We are not an anon team and are all known in the industry. As I mentioned our members above
We have prominent advisors in our DAO, you can have a look at the bottom of our website
Let me send some screenshots here so that you can see our impressive backers
You can see our angels from Ex-Facebook, Amazon, BNP, JP Morgan and more CEO and founders
you can check them out with the LinkedIn or ask us directly if you want to be in contact with them (restricted for dedicated community members only)
We have carefully designed and tested our code, you can see our test procedure here https://docs.420da.org/test_doc/#testing
Look at how rigorous our tests are…
Once the external code audit are done we will also publish it to the community.
Regaring the tokenomics question:
Our token releasing schedule is built on a double-halving mechanism, which means both the quantity of issued tokens (similar to Bitcoin) as well as the duration of each phase (our innovation) decreased by half compared to the previous one.
Staking rewards and Harmonic rewards are implemented so that we solve the lockup problem and bring long-term commitment to the community.
As always, please go check out our docs for more details: https://docs.420da.org/#what-is-420
Let me send some graphs here for illustration purposes
Note: there is NO allocation for team and everyone has the same vesting schedule
You can find information here: https://docs.420da.org/
Also join our community and ask if you have specific questions
Host: Projects that are not traded on major exchanges remain unnoticed. What does you think about listing Project on the leading exchanges?
Great vibe here
I hope you guys are enjoing the session despite being in silent for now
We will have time to talk after these few questions. Thank you for your time today
let me answer this one
We will be preparing major exchanges listing once we launch and the community reaches critical size.
Listing on big exchanges is important, nevertheless it is usually very expensive and ultimately the cost would be on the community side.
This is brutal but is a fact!
At this early stage we want to protect the community interest by being nimble and humble in our approaches and spending.
However, the token will be readily tradable right after the launch on decentralized exchanges. We will widely inform the community on the contract address and the decentralized exchanges it will be traded on.
To add more details:
We will launch on Avalanche blockchain.
We will be listing on Coingecko/CMC soon after launch.
PART 2: QUESTION FROM COMMUNITY
Question 1: How can I join the pre-sale or IDO? What is extimated date Where can I buy your Tokens?
Tien Do: You will be able to buy token 420 on the dApp developed by our team.
For the moment we are running a HackaDAO which lets early users try the dApp and win a prize. Please follow this link and answer the quiz to participate: https://t.co/5M9XHSnBha
The quiz is not difficult however you need to read our docs to score it right: https://docs.420da.org/
Please join !!! We welcome you to try your stamina to get $2,100 reward
Question 2: How do you plan to reach and market to people who don’t speak English? Do you have a plan to attract non-English speakers to your project?
Tien Do: Yes. Our project has organically gathered a global community from many different countries. We have always been considering non-English speaking communities as important parts of the ecosystem.
Please join our community and we assure you that you will not feel being left out or not able to speak up.
If you think you can start building a community of your own language please come speak to our team. We welcome initiatives.
Question 3: “STAKING” is one of the STRATEGIES to ATTRACT USERS and ACHIEVE MASS ADOPTION. Does your GREAT PROJECT have plan about Staking?
Tien Do: Thank you for considering us a GREAT project. It is indeed true
Yes we do support staking.
In fact, staking is one of the key features of the tokenomics. In our staking program, the rewards are divided among the stakers and are distributed daily.
Moreover, there are special additional rewards called ‘hamonic rewards’, which take coins from the impatient unstakers to pay to the remaining stakers. You can lean more about it in our docs here: docs.420da.org
Question 4: Usually an investor invests in a project for high returns. So how will you achieve that goal and how will you guarantee your investors, traders and innovators that they will have high returns?
Tien Do: Thank you for your question. We cannot guarantee crazy returns like 100x or 1000x because it’s out of our control. It would be misleading or even lying to the investors if we say we can pay them such return numbers.
However, as I highlighted above, we believe that our very strong tokenomics, which takes ideas from Bitcoin and other mainstream Fixed-income instruments, are able to protect investors from market downturn.
Specifically, the tokens have its own intrinsic value and can NEVER go to zero. It’s moreover protected by additional layers like the floor price and the membership value.
Token distribution is fair: very small amount of token released everyday, NO allocation for team, everyone has the same vesting schedule. Token has limited supply and will reach it in no less than 12 years.
We hope that with this very strong design we are more confident to navigate difficult market regimes and deliver returns for the patient and committed investors / members of the DAO.
Question 5: Currently, NFT is very hot, do you think you will apply NFT technology to your products in the future?
Tien Do: Nice question as always. I hope we have given you good information about our project. For this question, we also believe that NFT has a bright future.
We have already planned integration with NFT in our roadmap. That will be an important delivery.
For the moment though, as we are not a NFT project, we are focusing on making the tokenomics right, building the community, building the dApp so that we are ready for our exciting launch. Please follow us and keep an eye on the updates: Website | Telegram | Twitter | Discord | Facebook
And JOIN our ongoing HackaDAO
PART III. OPEN CHAT FOR THE TELEGRAM COMMUNITY
Em gái cà chua: Where can I buy your tokens right now what is your current contract and how can I buy them??
Our app will soonly be deployed on mainnet. When it is deployed, we will announce it and release our dapp. You can buy our tokens through the dapp auction system
Dee Cartwright: Where i can get all the latest news about ? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?
420da.org have all our latest information, including social media channels
Nguyễn Thuận Hưng: Revenue is an important aspect for all projects to survive and sustain. So how does your project plan to generate profit and revenue?
Token sale is one source of revenue that is internal. Investing and building are external sources of revenue and are more important. Hope we answered your question :)
L Kiên: What is your top priority for 2022? Can you and your team members share a bit about the strategy that 420DAO will implement in the near future? What makes the team feel confident to win in the long run?
Top priorities for 2022 is to build community, launch the dApp and boostrap the Treasury. In the near future, we are finishing implementation of our advanced tokenomics, continue to expand our community, supporter base. The team is very unite and mission-driven, this is what gives us strength to deliver for the community
Son Heroic: Best Question sir🙏🙏🙏 Can you share to us your tokenomics? How much is the total and circulation supply of your tokens? Will there be buy back system or token burning in the future?❤️❤️❤️❤️
Have a look at our documentation for the tokenomics. We have 420 M tokens to be issue in the ~12YR time span. We have buy back and burn system. Please read our documentation
Di Mariya .R: Iporten. My . sir. Do the token holders have Right to participate in the Governance of the project? On what kind of decisions can They vote on about The project???
Yes they have the right and the privilege to participate in governance.
They can decide on how to spend treasury, how to invest, what to build, what change in tokenomics parameters and any other aspects of the DAO governance
David Ali Hello sir. Can you list 1–3 killer features of this project that makes it ahead of its competitors.? What is the competitive advantage your project has that you feel most confident ABOUT..?
Please look into the matter
That’s a good question. We are proud to say our team is combined at the top level in 3 areas : quantitative finance, algorithm, and system design. The 3 killer features we had :
- Our staking model is inspired by the mainstream math phi fixed income model.
- Our staking token is elastic ERC-20 conformed, which allow users to transfer, buy ,sell even when they lock their token in staking pool
- Our tokenomics schedules on a daily basis lasts for more than 12 years to reach the cap, rather than one of as many other platforms does. Competitive advantage? I would say all the above, also the expert team behind the project.
William: A lot of scam projects lately. Pulling the rug creates a loss for investors. why should we trust your project? Aren’t you going to do the same?
We are one of the most transparent projects out there. The entire team is fully doxxed, with real pictures, a real LinkedIn profile. We have high-profile people in our team as members and supporters, for example, leaders in big companies, academic experts, tech founders, and so on. Please check out our documents and ask us if you have questions.
Sujuka: How can users stay updated with this project? Are there channels, including local Communities Where users can get the latest Updates.?
Yes of course. here are our channels: Website: https://420da.org/