AMA Recap with Decimal
On the 15th of November, 2022 at 12PMUTC, Decentralized Club had the honor of hosting Decimalchain(Chief Business Development officer) from the DECIMAL for an Ask-Me-Anything session on their Telegram page with a community of over 100,000 people. It was hosted by DC Host, Ella.
The session was divided into three segments. Introductions were made in Segment 1, questions from the Twitter community were answered in Segment 2, and live questions from the community members in attendance were answered in Segment 3.
If you missed this event and would like to know what Decimal is all about, you can find a recap of the interview here. Information here should be researched and should not be taken as investment or financial advice. Also note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.
Segment 1 — Introduction
[Ella]
Hello!
Hi Beautiful people, What’s up, Hope you all are doing well😊
Today I am hosting an AMA session with the Decentralized Club.
My name is Ella and I will be hosting DECIMAL in this session.🤩
Let’s welcome our guest @DecimalCBDO
You’re welcome to Decentralized Club! It’s our pleasure to have you!😍
[Nick]
Great to be here
Should we begin?
[Ella]
Yes sure!
How has your day been going so far?
[Nick]
It’s going good
Busy and productive
[Ella]
Great! kindly introduce yourself to the Community.
[Nick]
Sure
[Ella]
Yaa please go ahead!
[Nick]
My name is Nick, I am Cheif Business Development Officer at Decimal
Excited to tell you about our project
[Ella]
Great! Let me give you a quick overview of the session before we get started.
AMA is divided into three segments:
Segment 1️⃣: Introduction Questions with the Project team
Segment 2️⃣: 5 best Question from Twitter Gets Answered
Segment 3️⃣: Live Telegram Questions,Best 5 Telegram questions get answered.
Kindly type”✅” after you are done answering!
Shall we get started? @DecimalCBDO Are you readdyyyy?🤩
[Nick]
yes!
[Ella]
Cool! Let’s get started! We are very interested in learning more about DECIMAL
Q1. Can you give us an overview of Decimal and what motivated you to start the project?
[Nick]
Decimal is blockchain infrastructure that allows inexperienced users to create their own custom token. In just three minutes, your token will be minted, liquid and ready to go.
Decimal is the best blockchain supporting builders around the world creating crypto apps that scale today. Applications, contracts and tokens created on Decimal are automatically supported by the IBC infrastructure, which means they interact with networks such as: Cosmos, BSC, Thorchain, Osmosis, and Secret.
There is no other platform that allows users to create a token so quickly without having technical skills. Decimal also takes care of supporting the token by providing the service of validators, securing the token with DEL (Decimal native coin), and providing a DEX for exchanging coins of the Decimal ecosystem as well as participating in liquidity pools.
✅
[Ella]
Q2. Can you go into further detail about how can we manage our digital assets on Decimal App?
[Nick]
There are many different things you can do on the Decimal platform. First and foremost this includes creating custom tokens. You are able to pick a name, ticker, choose the amount of currency reserves, and decide on the total supply. You are also able to list the token on an exchange called Bit.Team and delegate your custom tokens to earn profits.
Also since all of the custom tokens are backed by the DEL native token, you are able to exchange custom tokens for fiat through the various exchanges Decimal is partnered with. So, right away you get a fully functional digital currency that can be used in a new project or integrated into an existing web2 business.
✅
[Ella]
It’s a amazing thing that a user can custom their own tokens!
[Nick]
😎
[Ella]
Q3. How can we acquire $DEL? What are the advantages?
[Nick]
DEL can be acquired on the Bit.Team centralised exchange which is a product of the Decimal brand or partner exchanges like KickEx, XT.com, or CoinsBit. There are also a number of decentralised exchanges that Decimal is partnered with like Pancake Swaps.
There are many advantages to holding DEL. Firstly, if you created a token on Decimal, you hold DEL in order to have control of the price of your token. Since all of the custom tokens are backed by DEL in currency reserves, and a very small amount of tokens are in circulation, DEL holders can affect the price of both their tokens as well as DEL by buying and holding.
There is also potential for profit from the standpoint of investors. Like I said, the supply of DEL is very limited, and as more projects are created on Decimal, the demand for DEL tokens rises. Higher demand and constant supply initiate an increase in price which makes DEL profitable for holders.
✅
[Ella]
Q4. can you give us a little overview of DELSWAP?
[Nick]
DELSWAP is a decentralised exchange built into the Decimal platform
This is the easiest way to exchange custom tokens for DEL in order to then trade them for fiat or to control the supply of custom tokens by selling DEL for tokens in circulation
It is a very good option to invest in new projects built on Decimal. If you buy DEL on one of the partner exchanges you can trade it on DELSWAP in order to buy shares of your favourite project
✅
[Ella]
Yess, it’s a great option🤩
Q5. What are the major milestones your project has achieved so far? What are your further plans for your project?
[Nick]
Decimal was launched in the second quarter of 2020, since then, a voting feature for validators was added which is when validators vote for the current version of the block. If the block is correct, it signs it. Otherwise, it does not sign it. Later, in quarter 2 of 2021, we implemented crosschain functionality implementation for Decimal/Ethereum/BSC. In the last half of the year, Decimal implemented public and private NFT/SFT functionality.
In the near future. The goal is to work on smart contracts. We are working on integrating Ethereum Virtual Machine in order to automate blockchain operations. This includes placement of smart contracts on the blockchain, verification of smart contracts, and interaction through transactions. And before the end of the current year, we also want to implement a Metamask browser extension.
✅
[Ella]
Looking forward to all the new features on the Decimal app😌
With this we have came to an end of segment 1🤩
Let’s now take some questions from our Twitter community!
[Ella]
@DecimalCBDO Are you readyy to answer some more interesting questions from our Twitter Family🤩
[Nick]
always😁
[Ella]
Cool! Let’s start!
Starting with our very first question
Q1. Can you explain how is your Tokenomics Distribution? How many tokens Will be minted? And How many tokens Will be locked by the team?
@fawad_ahammed
[Nick]
The total issue of tokens is 1,728,092,539 DEL. Out of this total amount, 1,600,000,000 DEL is held by the team. This means there is about 7% DEL in circulation. Since we hold most of the token ourselves, we are protected from dumping. If we start to see trends resembling dumping, we will take the appropriate measures in order to balance out the market. We have buyback and burning procedures in place that safeguards investors and holders.
✅
[Ella]
Q2.
Many projects start with inexperienced team members and some of them don’t go well because of mistakes. How was the experience and background of the your team effective in project success? And how are you going to instill trust in your user base, since the team is anonymous?
@DAD2829
[Nick]
The team is not anonymous, there is a whole section dedicated to the team on our website with LinkedIn profile links attached.
We think the team is one of the strongest points of the project. 💪
[Ella]
Yess! It is you can check out the website here
[Nick]
The Decimal team is full of experienced leaders who have been involved in developing blockchain projects since the very beginning. CEO and founder Anatoliy Berdnikov started his career in financial technology and has spent time working in one of the world’s largest banks. He set up his first project in 2015 which was an exchange called WallBTC and has later created BIT.TEAM.
[Ella]
Agree! Team is the backbone of any project🔥
[Nick]
This is a set of services aimed at convenience and simplicity of interaction with the cryptocurrency. The first service is the P2P exchange platform. The platform at the moment is completed and is under testing. The co-founder, Dmitriy Stepanov, is Chief Technology Officer at Decimal. He was part of the WallBTC project with Anatoliy they went on to create Decimal together. The rest of the team are also great professionals with wide ranging expertise.
✅
[Ella]
The more i am getting to know more about DECIMAL, it’s getting interesting 🤩🤩
Q3.
Regarding about the current market situation is too unstable, holding back investors.. So can you give me some good reasons why I should buy your tokens in this market situation? And also why should your token holder keep holding?
@NIKKI530997502
[Nick]
Decimal is different from other projects for two reasons
First, there are very few tokens in circulation and the team holds over 93% of the supply
Additionally, there is no involvement from whale investors or hedge funds
The Decimal team has built the project using their own funds therefore reserving the right to control the price and not be dependent on dumping or collapses of other projects. The second reason is the unavoidable utility of the DEL token. Most of the holders of DEL are people who have created custom tokens and hold DEL in order to provide reserves for their projects
This means that they are directly incentivized to hold for the benefit of their own token price. DEL is more independent than other projects in terms of token price and we believe in creating good products rather than finding ways to inflate the price.
✅
[Ella]
Q4.
Could you explain more about your NFT marketplace? Can I sell my own NFTs in that marketplace? Are there any certain requirements for users who want to buy and sell in that marketplace?
@Ama_Expart_1122
[Nick]
Yes, so in addition to being able to create your own tokens on Decimal, you are also able to create and mint NFTs
Just like making a custom token, you would go to the console, and pick the NFT tab
There you are able to choose a name for the collection, select the amount of NFTs minted, select the amount of DEL reserves and of course upload the image that will become your NFT
After you are done, you can list your collection on the NFT marketplace. The only requirement is making an account on Decimal and buying DEL tokens in order to make transactions.
✅
[Ella]
Q5.
You say that “Only in 3 minutes. Your currency is liquid, simple and understandable”, but does it mean that in this time we will create our own asset in the Decimal network and it will already have good liquidity? If so, will it not be necessary to make private or public sales?
@AugustK95
[Nick]
Right, so creating an asset on the Decimal blockchain means that right away you have access to liquidity through DELSWAPS and Bit.Team
Your custom token will be eligible to be exchanged for DEL and sold for fiat other coins. Decimal will also help improve your liquidity by providing market making services as well as marketing help
Since Decimal has a strong community of over 300k, your token will be on display in front of potential users and investors
It is also in our plans to create a launchpad in the near future that will incubate projects built on Decimal. When this product is operational, new projects will not only have access to immediate liquidity, but also be able to raise funds without spending time looking for partner launchpads.
✅
[Ella]
Greatt! Looking forward to it😌
With this we have came to an end of SEGMENT 2
Hope you enjoyed ,answering amazing Questions from our audience🤩
[Ella]
Dear guest,
Are you ready for Live segment ?
[Nick]
yes!
[Ella]
Time to take up some questions for segment 3 from our live audience! Guys be ready to shoot your questions😉
Dear guest,
Please pick five original questions to answer.
Try to ignore generic, vague, and copy-paste questions 😊
Dear community, as a measure to deter bots and reward hunters, please include the guest’s full name in your questions so the guest can tell original questions apart!
DO NOT TAG THE GUEST
AMA Rules for the community
🚨DC AMA Rules🚨
1️⃣ Post your best questions first. Community members are allowed a maximum of three(3) questions per session but do not repeat questions from the same account. People who break this rule will be disqualified even if the excess questions are deleted. WE ARE WATCHING 🙄
2️⃣ Post only original questions. Members with stolen questions from DC or other AMAs will be disqualified and banned.
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4️⃣ Join the guest and host (DC) Telegram and Twitter pages to be eligible for rewards. Check pinned post during AMA for details.
5️⃣ Don’t tag the guest in your question or your question will be deleted.
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🔔 KEEP TO THE RULES AND COLLECT REWARDS. NO REWARDS ESPECIALLY FOR COPY PASTE QUESTIONS.
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TRY OTHER GROUPS IF YOU CAN’T COMPLY.
THANK YOU.
[Nick]
Remember that for me to pick your question you have to follow us on Twitter and join TG group
[Ella]
Yesss!
Group will be unmutted shortly!
[Ella]
Great guysss! You are AMAZING!
Good work🤩 we have got a lot’s of questions
😌😌
@DecimalCBDO kindly choose the best 5 questions
[Nick]
Let’s start form the bottom
[Ella]
Sureee
Q1. Do the token holders have right to pariticipate in the goveirnance of the project? On what kind of decisiions can they vote on about the project? @SalmanAhomed
[Nick]
If you take a look at the Roadmap, it is in our plans to create a DAO on the Decimal network
This DAO will give DEL holders the abuility to participate in voting
Holders will be able to vote on decisions within the company and affect the outcome of events
[Ella]
Q2. How to stay cool in the current situation on the cryptocurrency market? @humaira1242
[dis]
[Nick]
I like this question becasue it is very relevant to today’s situation
Big players are collapsing and a lot of dirt is being uncovered
In my opinion this is good, becasue it will make the whole indistry cleaner, stronger and more reliable
The key is to invest in projects that have serious ideas and plans behind thier token and are not overleveraged like some of the big companies
Decimal is an excellent example because we are self-made and hold most of the tokens
We are makign products to give users new possibuilities instead of focusing on inflating the price
[Ella]
🤩
[Nick]
So the key is to look closley at projects and pick ones you reviewed and belive in
[Ella]
Yess! 3️⃣ more to go🎉
Q3. Do you have any plans to attract non Crypto people to your project? What makes your project different from other projects? Which feature of your project is everyone’s favorite?? @Muskan9D
[Nick]
Like I said previously, the idea behind Decimal is making a blockchain that regular people would be comfortable using
The interface is made so that it could be used by people without programming experience and advanced crypto knowledge
[Ella]
Decimal Interface is amazing! 🔥🔥🔥
Guyss go download the app and check it out🤩🤩
[Nick]
In terms of non-crypto audience
there have been many projects buillt on Decimal where people have a traditional web2 business and used Decimal to integrate crypto into it
So we appeal to everyone who wants to try themselves in the industry
[Ella]
2️⃣ more to go🎉
To know more about! 😌
Q4. hey mate Nick Decimalchain
What are the main differences between the Decimal Chain Protocol and other blockchains such as Ethereum, Polygon, Polkadot or BSC? In terms of speed, tax, TPS, interoperability, how does your technology outperform your competitors in attracting developers to your ecosystem? @Emmi_Chan_1
[Nick]
The main difference is the fact that Decimal is easier to use than the other blockchains
Like I said, the process of creating a token on Decimal is the simplest and most stright foward that you will see anywhere
It is also much chepaer to create a token on Decimal becasue the CRR requirments are much lower than the other bllockchains
Last one!
@5. Do you have any plan for burning tokens in the futiure to reduce the supply of the token and increase its investiment attiractiveness? @ryanalriza
[Nick]
Yes, we do have a plan to burn tokens
Up untill this point we have been doing everything with our own money
[Ella]
It’s really amazing 🤩
[Nick]
Now we are looking to hold a private sale to select investors where we will sell a small percentage of our tokens to riase funds for developing new infrastructure
After this sale, we expect more DEL to be in curculation, so we will burn a select ammount of tokens in order to stabilize demand
done
[Ella]
Greaat! It was really amazing to know 🤩
Do you wish to answer more?
[Nick]
I think that was 5 right?
[Ella]
Yesss but if you wish you can answer 1 more
[Nick]
it’s ok
don’t want to create a conflict over rewards😅
[Ella]
Okaaay great!😅
Thank you dear guest for your time 😊
Your answers were brilliant!
[Ella]
Cheers 🥂 to you and your team for their time and effort in making this project a success!
[Nick]
Thank you for hosting
[Nick]
Hope you enjoyed
[Ella]
Thankyou for choosing Decentralized Club!❤️
[Ella]
AMA is over now!😌