AVATA Network — Telegram AMA — April 06
On Wednesday, April 6, we had the pleasure to welcome to our Telegram chat:
ZBG
We asked him questions about the development of AVATA Network.
Some sentences have been slightly edited for readability but the meaning has been conserved.
Introduction
Q — Ayeley from GAINS: Please introduce yourself. What did you do before crypto and did you have any other previous venture in crypto?
A — ZBG from AVATA: I’m ZBG, the project lead for AVATA Network. Initially, I was in market research before taking a serious interest in crypto back in 2017. The other members have extensive experience in blockchain development, system analysis, and marketing.
About crypto involvement, this is the first project that I lead, however, I did gather an immense experience in the scene from various sources, entities as well as individuals.
About AVATA Network
Q — Ayeley from GAINS: Please tell us in-depth about the AVATA Network. And how the average crypto user can interact with it
A — ZBG from AVATA: Our reason for choosing Avalanche over other networks is because they addressed the blockchain trilemma: speed, security, and decentralization — unlike no other. And we are optimistic that this chain has a promising future ahead as more and more people become aware of it.
The AVATA Network is a Defi platform that integrates launchpad, AMM DEX & lending protocol set to launch in 3 phases.
We have completed phase 1 (launchpad) and successfully launched our project (AVATA Network) and are now undergoing an improvement stage.
The second and third release of AMM DEX and the lending protocol is coming soon, and we will also update the new roadmap detailing each launch.
We have 3 different platforms integrated into one. Users can choose to either participate in IDO, swap tokens, or provide liquidity in Swap or Lending pools, but the main thing is — that our platform allows users to generate passive income on all platforms easily!
Q — Twitter user @BaitulShuvo: How does the Avatan Chance Offering work and how do you ensure it’s a win-win situation between AVATA network and participants? What is the minimum amount of $AVAT that must be held to participate?
A — ZBG from AVATA: PLAN YOUR STRATEGY. You can even stake up to one year and leave it there while you keep harvesting your rewards (EVEN IF YOU HAVE NO INTEREST IN IDO)
1 — A % of IDO allocation will be given for the ACO slot.
2 — ACO is designed by our in-house marketing team led by our CMO where the main objective is to raise organic awareness for both — the upcoming projects and AVATA Network itself.
3 — ACO doesn’t require any amount of staking. You only need to take part by performing the tasks.
However, stakers in the SuperPool will earn not only more allocation but also guaranteed.
Q — Telegram user Abisola: While I was doing research on how to earn passive income on Avata Network, I came across AVAX pool but I’m still kind of skeptical about how it works. Can you further elaborate on it, how flexible is it, can a risk-averse person like me make use of it, or it’s designed solely for high-risk tolerant users?
A — ZBG from AVATA:
1. AVATASWAP fees = 0.3%
0.25% = LP
0.05% = buy AVAX and goes to AVAX pool as rewards for stakers
Simple as that. Risk tolerance is set to be doable for most people.
Q — Telegram user Sumit: Is AVATA Network a Cross-Chain platform?
A — ZBG from AVATA: No we are not. Cross-chain is a good hype but mostly people are more focusing on the economics of specific chains. And for now, the AVAX ecosystem is still young. We don’t really see the need to focus on crossing or bridging etc. Our focus is 100% on empowering the AVAX ecosystem and community, for now.
Q — Telegram user Anastasia Vector: On Your Platform, there are two types of Ways to get allocation: Guaranteed IDO allocation & ACO. What’s the main difference between these types?
A — ZBG from AVATA:
Guaranteed = stake in SuperPool
ACO = participate in the activities whenever ACO is open
Q — Telegram user Elly ♂️: I Read that 40 Million AVAT tokens are there for Community Members. How Community Members can get the chance to get these Rewards?
A — ZBG from AVATA:
1. SuperPool
2. LP farming (liquidity mining)
— from AVATASWAP
— from AVATALEND
Q — Telegram user SuperHero: On the AvataLaunch platform, how can users Stake in Supercool? Do You have any kind of Articles for this?
A — ZBG from AVATA:
1. Go to the website
2. Click on SuperPool
3. Connect wallet
4. Begin the staking process by clicking on stake. It will direct you step by step
Harvesting/Compounding is very easy. Just a few clicks away
Q — Telegram user Coco T.: Why does Super Pool have dual rewards? Compared to AVAX Pool, which pool is advisable to stake at?
A — ZBG from AVATA: Depending on WHAT YOU WANT. Different people have different strategies, needs, and risk tolerance. Understand which is the best for you before jumping in.
Q — Telegram user Shiva: Many Launchpads have Tier System and there is really a big problem on platforms for small investors with this. What’s your opinion of this?
A — ZBG from AVATA: Learn about SuperPool and you will understand why we are different. Our way of granting the IDO allocation is a novelty and not only on tiers but also multipliers which really gives SMALL STAKERS A FIGHTING CHANCE.
Q — Telegram user Judelaww @nordicwhales ADDICT ✓: Talking about Avata’s SuperPool 101 program, I’m a typical long-term holder. So, what do you think is the best strategy for me to gain high passive income; through daily harvest or compounding them? Are there hidden terms & conditions on the mechanism?
A — ZBG from AVATA: NO HIDDEN term. What you see is what you get. Depending on your needs. You may keep compounding them once or twice a week. Or maybe even harvesting them and putting them in an AVAX pool later. So that you will have not one BUT 2 sources of passive income.
Keep repeating the process = will strengthen your position!
Token
Q — Ayeley from GAINS: What role does the token play in the AVATA Network ecosystem?
A — ZBG from AVATA:
🔺AVAT
AVAT is our native token designed to uphold two imperative qualities:
1. highest transparency — A time-lock controls AVAT minting, allowing them only to exist WHEN IT IS TIME. Therefore, nobody has future allocation with them at any given time. This method also enables our community to cross-check the amount of AVAT in circulation -vs- the official information of token release (info in blockchain explorer -vs- the info in our doc section).
2. allow holders to capture values quickly — The following are two different ways to generate passive income on our platform:
🔺 SuperPool (already operational)
-earned AVAT as yield
-earned iAVAT, the guaranteed IDO allocation ticket (you may sell the allocation if you don’t want them).
🔺 AVAX Pool (coming soon)
-earned AVAX as yield
You can learn more about the token functionality & benefit here, or a simple guide on how you can strategize in SuperPool here
Finally, you can find the info about our partners and backers here.
Q — Twitter user @Khang161990: How does AVATA Network work as a utility token for the network. How does it benefit both the network & the owner? Is there any reward mechanism for holding your token? What are the benefits of Holding for the long term?
A — ZBG from AVATA: The MOST basic utilities for AVAT token is to:
🔺 EARN PASSIVE INCOME
🔺 EARN IDO ALLOCATION
The benefit for the token holders is the ability to capture value from two different pools:
1. SuperPool (operational)
2. AVAX Pool (coming soon)
SuperPool is the one that rewards holders with double-rewards at once, allowing stakers to increase their AVAT holding by earning yield AND also automatically securing their IDO allocation. The pool also allows stakers to adjust their strategy based on their own risk tolerance level.
You may find the info on this here:
Therefore, DO NOT HOLD. STAKE THEM! 🔥
Q — Telegram user kunlefighter: I noticed that you don’t always talk about iAVAT, can you tell us the difference between it and AVAT token? Are there any benefits of holding an iAVAT token or is it less important?
A — ZBG from AVATA: Yes. Less talk because iAVAT is merely a ticket that guarantees your IDO allocation. You don't need to hold them because we will generate them every time there is a new IDO. While enjoying your earnings in SuperPool, you gonna get that anyway. Regardless of whether you want them or not. So, the “ticket” is not important. What is important is the “seed” that can give you the ticket and income = AVAT.
If you have AVAT, you can earn MORE AVAT + iAVAT. So, yes. We talk about them less for a good reason. BTW, even if you have a small amount of AVAT, you can commit to the 60d locking period. It gives you MORE iAVAT (2x per every AVAT staked) whenever the iAVAT generating event happens.
Q — Telegram user lolipop: How will the entire AVATA ecosystem provide enough value to motivate investors to acquire it? What important benefits will it get? How to maintain its value in the long term?
A — ZBG from AVATA: This cannot be answered easily. But in simple terms, the value WILL MAINTAIN if the platform keeps offering a steady stream of benefits. Once everything is up and running, we will be like a machine that is capable of continuing for as long as Defi is relevant.
Funding
Q — Ayeley from GAINS: Did you raise funds so far? If so, how did you handle them? Are you planning to do any future raises?
A — ZBG from AVATA:
1. Yes, we did. The total amount raised across all rounds (seed, private, IDO/IEO) is $2million.
2. For now, no. And we don’t think there will be any future raised needed since AVATA Network will be able to generate sustainable income for its future operations once the existing fund dried up.
3. Funds are allocated based on priority where much goes to development, marketing & operations.
Competitive Advantage
Q — Telegram user Lestmaris Vera: What are AVATA’s unique and useful innovations that solved long-standing problems in the launchpad and the DeFi industry? Features?
A — ZBG from AVATA: Good! Please heads up to our website and click the doc section.
You can learn about our approach and how it will bring a difference.
(SuperPool is one lead example)
Q — Telegram user JULY MUi: As a new project in the market, what are your competitive advantages? As an investor, why would we trust to invest with AvataNetwork? What are the ways to earn money on your platform? Can you tell us more about the AvataNetwork products and how they work?
A — ZBG from AVATA: VALUE. Our focus is all about creating and capturing values. You can easily learn how to earn by following our ann channel.
This is one example
Business Development
Q — Ayeley from GAINS: How far along are you with your roadmap and what should we expect in the next weeks and months?
A — ZBG from AVATA:
1. We are close enough to the launch of the AMM DEX and the updated roadmap will be out in a few days.
2. The completion until full delivery of the original promises made is expected to happen by the 1st week of June.
3. Both are actually further up than the original plan, but as we moved forward we realized that details and security are way more important than the timeline.
4. Nonetheless, we will deliver everything and that is assured.
5. Currently, we are dealing with projects for the IDO which are set to come up very soon. The main thing now is to onboard projects that we know as the best.
Q — Telegram user Amina Peter: How are you handling this matter to expand the user base of AVATA?
A — ZBG from AVATA: Understanding the VALUE is the key. Once you can see the overview of the platform clearly, you can make an informed decision. This is very important for both the project and the community. That way, they can also contribute by giving a well-thought suggestion later.
Q — Telegram user Godpelpa: The current market situation is quite worrying, especially for the projects that are being launched at the moment. So, I would like to know if AVATA has a solid team, important partnerships, and a marketing strategy to help them in these unstable times?
A — ZBG from AVATA:
1. We agree on the market.
2. But let’s not forget, although even a weak project can easily “thrive” during a bull market, THE question is — how long?
3. Therefore, since we cannot control the market, waiting to launch in good condition is not an option because we won’t know when that is gonna happen.
4. Hence we are 100% focusing on fundamentals where the product offerings MUST ALWAYS be the priority. The team and other people behind it is of course an important factor, no doubt.
ZBG, thanks for coming into our community, and taking the time to answer our questions. Do you have any final words for us?Where can we follow you to stay updated? — Ayeley Commodore-Mensah from Gains Associates
1. Thanks to the all of you
2. Learn about how you can earn passive income from our platform. That would be a good start.Follow our Twitter | Telegram | Medium. Finally, if you decide to be part of us, Thanks a lot. We will continue working hard to deliver our promises. Bull or bear, our commitment stays the same. That is our policy. Thanks — ZBG from AVATA
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