We just finished our AMA with Proto.Gold - DAO
So here we will put the questions that you maybe want to know it's answer :
Q1: Can you Kindly Introduce yourselves and ProtoGold project to our community?
First of all, we thank you all for your time. Please understand hard questions are welcome. There are only a few things we ask you to please respect and not ask about. Our global partner’s names are one.
But we are here to help you understand more, so you can see if our DAO is something that sounds amazing to you too. We worked a long time without letting anyone knowing about things. You should know that your group is the first we speak with in an AMA. So you will always be special.
Hello everyone, an privilege to be here. Since 2017 I have been engaged in crypto and have been amazed by the technology and the possibilities. In 2018 I was introduced to AA_PGD and from that point we never looked back. We had a common goal, a goal to help people thrive in a harsh environment. We have built a community of genuine people with great skills and have with this community created Proto.Gold.
Mathematics, logics and ideas is where I am excelling.
Hi guys i basically deal more with the marketing side of things and tend to leave the more technical questions to the others. We have commenced with a gentle push into pre launch marketing and will step that up once we have carried out both contribution events. Exciting times ahead for all connected with Proto.Gold and we hope that some of you will join us on the journey
Hello, I am very proud to be representing Proto gold today and I am thankful that you have allowed me to speak today about our exciting project.
I really look forward to any questions you may have. Briefly, I have myself been around cryptocurrency since 2015, both in the trading and mining. I have a lot of experience in traditional business in my home country, and I have been very happy to share my ideas with AA_PGD as we have developed the protocol into what it has become today. I couldn’t be happier.
Q2: Many new projects made a good impression at first but were suddenly abandoned. My question is, how will you manage the project and token to gain a place in the market and become a best token in the blockchain world?
It is essential to us that the project we have built has a long-term vision, a vision to enhance the security of decentralized crypto and while doing so, do good for less fortunate people, through community rewards and charity. To enforce the long-term vision we have locked the Core member tokens for 120 days and with a 730 days vesting period. We strongly believe in blockchain technology and decentralization, which is why we have built the project around a DAO. A DAO governed project enhances community involvement and greatly increases security. We have all been engaged in Crypto since 2017 and have witnessed the technology be misused and mistreated by scammers and incapable developers. Our protocol has hardcoded funding for development and marketing, which will ensure the possibility of attracting even more of the sharpest mind. Our global partnerships and unique codebase will help us reach far and wide. The experience we have gathered between the core members enlightens our competence.
Lockup and vestings periods
Vesting is the process of slowly releasing tokens over a period of time. Our community uses long vesting periods to ensure that core members and early donors cannot swap a large quantity of tokens all at once.
Moreover, we will make sure even the person who doesn't understand much about codes, will be able to verify these different lockup periods directly in the codes upon the launch of the DCE one.
88% of the total supply is locked and with vesting periods up to 5 years as you see.
Another important point about it is the fact that we hope other projects will be inspired by our codes in our protocol, so more can start using this kind of safety guards so we can help stop many of the scammers.
Q3: Could you please tell me just a little more about the team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes?
Our team is based across the globe and is from a variety of diverse backgrounds and beliefs. Myself, I based in the UK and I am the managing director of a large company, I believe the largest in its sector, I have taken my skills from this business to assist in the development of Proto.
I began 14 years ago from my home as a single employee and we now have 1500 people under our name. I have seen that it takes time and hard work to make something grow and want us to succeed in all market conditions. I believe the protocol offers great benefits in both a bull and a bear market and will stand the test of time.
I have seen cryptocurrency fail, I lost a lot in 2018 (like many of us) due to broken promises and there’s no harder feeling, when you believe that you are going to make it, only for things to go bad.
One thing is for sure, at Proto we want safety, security and promises to all be deliverable. We expect only the best in class and will be working full time to ensure this.
You can see more of our vast array of experience on our website, and we hope you will have faith in us as we push forward.
Many thanks for the great question- Done. ML.
These companies, but not limited to, count some of our experience.
We have a lot of experience, but we hope some of you skilled people will join the DAO to help build a better tomorrow so we can leave this world a better place than we arrived
We encourage community engagement and therefore currently have two ongoing community contests:
Contests like these will be held several times a year. And who knows ? maybe the winners will be hired?
Indeed. Please, everyone, feel free to join these contests no matter if you are a creative person or a coding wizard.
Q4: Most of the questions people had during the AMA asked about the strengths of the Project . So at this time, can we talk about your difficulties and challenges? What difficulties did you face developing your project and how did you overcome them?
Our Dev team had to come up with an entire new code base, to Match the vision we had on paper and in our heads, we did not want to clone another tokens contract and just go with it, because it wouldn’t do what we wanted.
As you can see on our website, the Proto contract has many functions and sub functions and it was a huge undertaking to get it right
When we publish it we hope you’ll be pleasantly surprised by how well it has turned out, but it for sure was a huge challenge to get everything working as it should
While being inspired by other rewards-based projects, and used some of the similar function calls(codes) then because we are making things much safer than anything we have seen yet, then it always comes with challenges. It should because it's the challenges that make us want to strive to make it even better. It's the struggle that motivates us to work harder. But for us, it’s of the utmost importance to launch a well-tested set of I codes. This is why we have a second team of developers going through the codes, and additionally, the auditor is also on board and paid for.
Q5: Security is always the top task of projects. But lately, a lot of cryptocurrencies and blockchain have been appropriated by hackers. What security measures does your project have in place to avoid the possibility of being appropriated by hackers?
I apologize but I will need to leave you as I have an important meeting with our global charity partners now. Everyone else will take good care of you. Thank you for your time. I hope to see you active in our community
Security is our TOP priority, everything we build is vetted and thoroughly tested before release. We have witnessed the exploits of BSC based tokens and this has motivated us to create something unique. We have built the codebase from ground up and have solved all known exploits and taken extra measures of security to further enhance the security of our project.
We will be building more security measures into our, in development, DEX and as well the DAO.
We have an ongoing auditing of the code with a reputable company and will have results as soon as physically possible. We minimised human intervention in the code framework.Anything requiring human intervention is secured with a “Gnosis multisig safe”. Gnosis Multi-signature allows you define an access/control-scheme through multiple signers that need to confirm transactions. The core contracts of the Gnosis multiSig safe have been formally verified, which is the highest security standard for protocols.
Q6: Has your project been fully decentralized?and will there be any risk of centralization in the future?
Our Project is built around a DAO, Decentralized Autonomous organisation, with a hardcoded protocol. LAW, our governance token, will be the symbols of our community and will hold the rights of voting.
The DAO will hold the ownership of the Tokens and with that any change made will be done with a Vote on the blockchain
The DAO will Hold 20% of the PROTO token supply, this will enhance the strength of the DAO and also make any 51% attacks close to impossible. The yearly released tokens will be swapped in a pair with PROTO, further enhancing the DAO treasure, and LAW, and decreasing the circulation of PROTO.
Q7: Can you tell me what will determine the voting power?
LAW will be the token of the votes.
LAW will be granted to all participants in our DCE One and Two a 1:1 scale.
Additional LAW tokens will be released on yearly basis.
We have a great article about our DAO here
Q8: Can you tell us about the three tokens of the proto.gold ecosystem ?
We are proud of our eco system, we call it a symphony of coding. The three tokens are built to collaborate with each other. one does not work without the other.
the primary token, is used for day-to-day transactions and to accumulate the savings and rewards within the Proto.Gold ecosystem.
It will initially be issued by the community through a crowdfunding campaign on a decentralized launchpad and will be nominally exchanged on PancakeSwap against BNB (Binance’s native token) thereafter.
2.5% of each transaction (a full quarter of the contributed 10%, is transferred directly to the PROTO token holders by the protocol.
These Instant PROTO Rewards are distributed to all eligible PROTO wallets which include: individual PROTO holders, early contributors from DCE One and DCE Two, core members, and AID. Transfers are distributed proportionally to each holder’s wallet based on their holdings as a percentage of the total in all eligible wallets.
1.25% of each transaction is sent to the Accumulation Safe as BUSD.
These funds accrue over time and are planned to be released every 90 days to facilitate upcoming discount offers that are being secured for the community.
We are also currently working to finalize an extraordinary partnership that may allow us to offer our members discounted gold bullion and much more.
DORE - the quarterly airdropped rewards token, can currently be used as follows:
*Swapped for PROTO.
*Spent in one of our periodic lotteries.
*Accepted as settlement for discounted offers (starting in the second half of 2021).
*Used for staking & lending (starting no later than the third quarter of 2021).
the governance token, enables community governance and voting within our Decentralized Autonomous Organization (DAO).
Contributions that accrue to the LAW token also serve to strengthen the security of the overall DAO governance structure including its charity and savings funds.
As founding members, participants in our decentralized contribution events receive free LAW tokens 1:1 with their PROTO as an added bonus.
0.75% of each transaction is sent to the DAO Governance Wallet.
These funds accrue over time and strengthen the security of our governance by supporting the value of the LAW tokens.
Given a sufficient balance, they can also be periodically released to support various strategic initiatives as vetted and approved by a vote of the DAO.
Q9: How do you plan to spread awareness about your project in different countries, where English is not spoken well? Do you have local communities for them to let them better understand about this project?
Of course as we all know crypto has no boundaries but different languages and cultures can sometimes make things difficult.
With that in mind we already have local communities set-up and ready to go and more are planned.
Q10: Does your project support staking program?if yes. how is your stake system work what is the requirement for user, if they want to stake in your platform??
We will later this year initiate a Staking and Lending platform.
more info will be released in Q3.
Q11: one of the greatest aspects of project success is community support. And most of the big projects have programs that interact with their users. My questions Do you have any specific plans to attract and expand your community and improve the user experience?
We want our community to participate and become a part of the DAO. If the community member does a great job in helping and creating content we want to reward them.
Q12: Is your project a local project or a global project? Can anyone use your services from anywhere in the world? Is there any restrictions of using your service?
its Global, we have people from all over the world in the Core member group.