AMA with DoorCoin

Introduction with DoorCoin

Celeb | Decentralized Club:
Introduction questions

Q1. Can you tell us what is the motivation behind developing DOOR and why did you guys named it as DOOR ?

David Daly:
Yes, but first let me introduce myself and Rich. My name is David Daly and I am one of the founders of DoorCoin along with my long time friend and business partner Rich Swier Jr. I am an entrepreneur, marketer, creative strategist, and software architect. In my professional career I have helped launch several multi-national brands and have been instrumental in growing multiple startups to millions of dollars in revenue. We are founders of an incubator and venture fund in Sarasota, Florida called the HuB

Rich has launched businesses including offrs.com (acquired by a public 30B dollar company), Biolucid (acquired), Star2Star (acquired).

We are excited about our most recent venture Doorcoin!

Celeb | Decentralized Club:
That's great to note

David Daly:
For Q1. DoorCoin is the utility token that powers the DOOR platform. DOOR was named as such because of the home services and real estate niche that we focus on for launch. We also think that DOOR is poetic, as we are opening the DOOR for people to own and control who buys their data.

A little bit about DOOR...

DOOR is the first decentralized ad network that connects consumers with businesses based on home products and services they want to buy. The founders have been in the real estate and lead generation space for over 10 years and we have seen first hand how platforms like Zillow, Facebook, and Google take advantage of user’s data to make billions of dollars, while the users get nothing.

To fix this, The DOOR platform rewards consumers for the use of their data by connecting them with businesses that offer products and services they want to buy. DOOR removes middlemen like Home Advisor, Zillow, Facebook and others that overcharge the business for ads and sell the consumers data to the highest bidder. By rewarding consumers, DOOR will become the preferred way to buy and sell home services on the Internet.

Celeb | Decentralized Club:
Like giving us a chance beyond facebook

David Daly:
Exactly

Celeb | Decentralized Club:
Q2. How does the entire consumer reward system work in DOOR ?

Noted

David Daly:
Great question, The business model is similar to any marketplace or exchange. The Property Owner (Seller) has a valuable product (Data) and is publishing to an open marketplace (Door Lead Exchange). The Advertiser (Buyer) is looking for new customer opportunities (Leads) and will buy Data on the marketplace.

The difference is that DOOR rewards the Property Owner for providing accurate information to sell on the exchange, and the Advertisers pay the Property Owners directly for the access to their verified property info and their home service requests.

Consumers will also be able to earn rewards with our affiliate program and high-yield staking feature that will be live on the mydoorwallet.com platform this month.

We believe this model our rewarding our users will make DOOR the future of how businesses connect with consumers.

Celeb | Decentralized Club:
Can you speak abit about yielding returns for staking

David Daly:
Sure, while it's not complete yet, the idea will be that the staking APY will be based on the amount staked, and the length of the stake. So larger amounts and longer stakes yield higher returns. This will all be accessible on our DoorWallet available at mydoorwallet.com

We would like to provide up to 30% APY for the higher end of the yield

Celeb | Decentralized Club:
Wow that great to note

Let's move to the next question

Q3. How does an Advertiser benefit in the DOOR ecosystem?

David Daly:
Sure, as I mentioned in the previous question, advertisers have access to verified, first party information and intent data on the DOOR platform without having to create complicated ads and websites or use expensive big ad tech middlemen like Facebook, Zillow or Homeadvisor to run ads to find good leads. This setup makes lead generation more accessible and affordable for all advertisers.

For example: If a verified property owner needs a real estate agent to help them sell their home, they can create a property request on the DOOR platform. Real estate agents on the DOOR platform in the property owner’s area will be able to license that lead by paying the homeowner directly to gain access to their property and contact info and lead request. This process is a win-win for both parties, and removes the middle man like Zillow or Facebook as the Advertiser doesn't need to run complicated ad campaigns to find customers and the property owner gets their home service request fulfilled and they get paid for the use of their data!

Of course, this is all done via the DOOR token

Celeb | Decentralized Club:
Can you talk how verification is done

For consumers

David Daly:
Sure, all consumers are required to verify their contact info via email and SMS verification. They are also required to verify their identity and proof of ownership of their property. This is accomplished via a government issued ID and a utility bill, mortgage document etc. Our verification team manually verifies each property for accuracy.

Once the property is verified, DOOR tokens are issued to the property owner as a reward.

The reward amount is based on our proprietary algo that takes into consideration multiple data points like home value, current market, and percentage of reward pool.

Celeb | Decentralized Club:
I now get it

Q4. How do we acquire $DOOR coin and why is it important to be held from an investment perspective?

David Daly:
While DOOR is the utility token that is used for buying leads and rewarding consumers on the DOOR platfrom, everyone can buy and hold DOOR if they believe in the vision of the company.

Door can be purchased with credit or debit on our wallet app at mydoorwallet.com or on Uniswap exchange using USDC.

We believe that DOOR is an important buy and hold investment because it’s the world's first token with real world utility outside of being another defi protocol.

DOOR is disrupting a 100 billion dollar ad tech industry and is leading the way to a world where consumers are no longer the product that big ad tech companies are taking advantage of to make billions.

We are giving the power back to the people. Rewarding people for their data is the future and it's the right thing to do. DOOR is paving the way with our innovation. Now this change doesn't happen overnight, and we are only a month old. However, DOOR has made many great strides since our launch, this makes DOOR a great investment for long term holders.

Celeb | Decentralized Club:
Q5. What are the major plans on track for completion this year for DOOR ?

David Daly:
Our long term goal is to become the preferred way that people buy and sell home services online, but we know this will not happen overnight. Let me first talk about some large milestones we have recently hit, and then talk about our 12 month plan.

We have three major milestones that we are excited about. Each one gives insight into how DOOR will build its roadmap to success.

1. We signed our first national brand advertiser. Our new partner is PGT, a US based publicly traded company with a 1B+ market cap and is a leader in their category. They have come on as our first national partner brand in the Doors & Windows market. Kind of poetic considering we both sell “DOORs”

2. We have recently reached 7,000+ Holders between our own wallet app at mydoorwallet.com and holders via non-custodial wallets. Building a community of DOOR Holders is important for all aspects of the business.

3.We have paid out over $500,000 (700,000 DOOR) in rewards in the first few weeks since we launched. It’s exciting to see the DOOR Rewards program and business model building momentum.

Celeb | Decentralized Club:
This is great news

David Daly:
Our 12 month marketing plan will unfold as we continue to tell the story of DOOR. We exist because the current landscape of how consumers connect with businesses is broken, we are running national and global marketing efforts and have partnered with the world’s leading Crypto PR Firm to help us tell the story and we are seeing people really resonating with what we are doing.

Rewarding is in our DNA, and we want to reward our holders of DOOR Coin by offering a high yield staking program in the next 45-60 days. Increasing liquidity and stability is also a high priority, and we are talking with mid-tier exchanges to drive additional holders and increase liquidity.

We recently launched a referral program that helped us reach our goal of 5,000 holders of DOOR. As we continue to grow our business side and deliver on our promise, we will see millions of DOOR purchased by businesses to drive commerce, thus creating millions in volume and liquidity. By the end of 12 months, our plans are to be on a top 20 exchange.

Community ask questions from Twitter

Celeb | Decentralized Club:
Twitter questions
1. DOOR is a utility token (ERC20) built on the Ethereum platform how do you deal with scalability issues and slow transaction on the network and you don't have tokenomics on your site can you give a brief about it
Username kingwealthjr

David Daly:
Great question kingwealthjr

As the ETH network grows, transaction speed, throughput and scalability can be a concern. We believe in the Ethereum team and that scalability and transaction speed is being addressed in Ethereum 3.0 with the introduction of proof of stake validation.

Secondly, we do have tokenomics on our site, here is the link to our whitepaper: https://doorcoin.org/whitepaper.html

But let me explain how it works in detail

Celeb | Decentralized Club:
Yeah

David Daly:
The DOOR token is the main utility token on the DOOR platform, facilitating:
● Payments on the platform
● Access to data
● Rewards for newly registered property owners

The DOOR token will have an initial supply of 4,000,000,000 (four billion) tokens, distributed as follows:

REWARD ACCOUNT 2,800,000,000 (70% of supply allocated for rewards/growth)
These tokens are used to reward property owners / agents who register their property and are verified. Once a property is verified, the calculated reward is transferred from the REWARD Wallet to the HOLDING Wallet (this is our custodial wallet with notation of the property owner who owns the Door.)

In order to incentivize adoption of the network and registering of data, a significant portion of the initial distribution of DOOR tokens will be locked in a reward pool. Every new property verified on the platform will receive a % of the outstanding tokens in the pool.

This achieves two goals:
● The pool becomes perpetual - since every reward is a % of the outstanding pool amount, the tokens in the pool never deplete, although the reward (expressed in DOOR tokens) becomes smaller over time. We expect this to be offset by the appreciation of the token price over time, thus the net USD equivalent of the reward remaining fairly stable.
● Early system adopters will get significantly more DOOR tokens as an incentive for joining the platform. The reward pool is designed so that an average size US property (300k USD) would receive 0.00001% of the outstanding tokens in the pool upon registration. The exact formula can be viewed in our whitepaper.

HOLDING ACCOUNT
The HOLDING Account is where Door Tokens are held on behalf of property owners or advertisers until they withdraw the tokens into their personal wallets. The HOLDING Wallet helps avoid Ethereum Gas Fees for micro-payments that occur
for data licenses. Door Tokens are deposited into the Holding Account once reward is transferred from the Reward Pool or when an Advertiser stakes Door to use for licensing Data. The number of tokens in the HOLDING Account will fluctuate based on incoming deposits and outgoing withdrawals from users.

OPS ACCOUNT 200,000,000
The OPS Account is used for operating expenses and also receives 18% of each Data License for ongoing expenses including marketing, infrastructure, R&D and operations. The OPS Wallet on the Ethereum chain will receive timely batch deposits from the Door App.

LIQUIDITY POOL ACCOUNT
The LP Account is used to fund the Liquidity Pool on Uniswap. Ongoing LP funding will come from 2% of each Data License. The LP Wallet on the Ethereum chain will receive timely batch deposits from the Door App.

ILO ACCOUNT 200,000,000
The Initial 200M Door will be used for initial funding of operations and the initial Liquidity Pool on Uniswap. The Tokens will be pre-sold to Advertisers.

TEAM ACCOUNT 400,000,000
The TEAM Account is used to compensate current and future Team Members for their work on the project.Since this project is launching fully functional and there is no risk for deployment, there are no restrictions or vesting schedule for Team Account. This is also necessary to provide floating tokens to the market.

RESERVES ACCOUNT 400,000,000
The RESERVES Account is held for emergency funding in operations if the OPS account runs low or unforeseen events require more funding.

All details can be found here https://doortoken.gitbook.io/door-token/

Celeb | Decentralized Club:
This as quite being some more to read
A minute for the community to digest this informations

David Daly:
Sounds good

Celeb | Decentralized Club:
Let's move to the next question

2. You telling us you are not here to compete, but to change the game by "Enabling people to make Billions, instead of making these yourself" is kinda not adding up. How do profit from this project?? As This is definitely not a Charity organisation/projecy
Username joesphayoola19

David Daly:
Thanks for the question joesphayoola19

We want to divert that revenue from Facebook, Zillow, HomeAdvisor etc to the people who own the data.

As the first decentralized business, we make money as the token value appreciates. Our founders have invested a significant amount of money in the software, contract, whitepaper, liquidity pool, and initial marketing. In exchange for this investment, we have been issued founder shares, which have been locked in a staking wallet for 1 year. We do not take salaries and are incentivized to make a return by creating a successful business model.

The platform takes a 20% transaction fee on all data licensing transactions which fund operations on an ongoing basis.

Celeb | Decentralized Club:
Last question for this segment

3. Your website says "Door Coin is officially launching on July 4th",can you share with us your accomplishments, or major highlight in your accomplishment(s) since launching? Why are you confident that this is an outstanding project (because it does seem so 😄)
Username sunnyaremu

David Daly:
I covered this in a previous question in detail. Here is that information again.

We have three major milestones that we are excited about. Each one gives insight into how DOOR will build its roadmap to success.

1. We signed our first national brand advertiser. Our new partner is PGT, a US based publicly traded company with a 1B+ market cap and is a leader in their category. They have come on as our first national partner brand in the Doors & Windows market. Kind of poetic considering we both sell “DOORs”

2. We have recently reached 7,000+ Holders between our own wallet app at mydoorwallet.com and holders via non-custodial wallets. Building a community of DOOR Holders is important for all aspects of the business.

3.We have paid out over $500,000 (700,000 DOOR) in rewards in the first few weeks since we launched. It’s exciting to see the DOOR Rewards program and business model building momentum.

The token has also seen a 3000% increase in in value from it’s $.02 launch price, which gives some insight as to how it is resonating with the market. We believe that this is only the beginning.

Community ask questions from Website

Celeb | Decentralized Club:
Website questions
1.I noticed that doorcoin collects users data. Just to be sure what data do you collect and what’s it used for? Also, are there security protocols in place to prevent a data breach?

Telegram Username: @emmie971

David Daly:
The property information, contact information, and intent data is used for advertisers to license directly from the consumer, allowing the consumer to monetize their data. Security is of the utmost importance. The personal data and all Blockchain related data is encrypted in our database.

Celeb | Decentralized Club:
2.any projects initially developed well but were suddenly abandoned, how will you manage your project to get your
position in the market to be among the best blockchain projects in the world?

Telegram Username: @shollypeezy

David Daly:
Well, I can tell you that we have no plans to abandon our project.

I’ve outlined our 12 month plan in the previous questions. Here it is again:

Our 12 month marketing plan will unfold as we continue to tell the story of DOOR. We exist because the current landscape of how consumers connect with businesses is broken, we are running national and global marketing efforts and have partnered with the world’s leading Crypto PR Firm to help us tell the story and we are seeing people really resonating with what we are doing. Rewarding is in our DNA, and we want to reward our holders of DOOR Coin by offering a high yield staking program in the next 45-60 days. Increasing liquidity and stability is also a high priority, and we are talking with mid-tier exchanges to drive additional holders and increase liquidity. We recently launched a referral program that got us to our goal of 5,000 holders of DOOR. As we continue to grow our business side and deliver on our promise, we will see millions of DOOR purchased by businesses to drive commerce, thus creating millions in volume and liquidity. By the end of 12 months, our plans are to be on a top 20 exchange.

Celeb | Decentralized Club:
3. Can $doorcoin have other use case apart from real estate are there plans put in place for diversification.

Telegram Username: Fiyako12

David Daly:
Yes, we do have plans to expand to other verticals once the home services industry is scaled effectively. Our version 2 of our software and our mobile app are in development currently and will be designed to scale horizontally into other industries.

At the end of the day, advertisers need a better way to connect with the people that want their product or service and consumers need a better way to own and control their data and who licenses it. DOOR fixes this and it’s applicable to any and every market segment.

The middle man needs to be removed from everywhere. DOOR plans to do this.

Celeb | Decentralized Club:
Thank you for your apt answers

Live Questions answered by DoorCoin

1)Summer Body:
Is your LP of door coin over 10%??and do you have video reviews one can see??

David Daly:
Yes, the LP is around 15% of circulating supply. Videos are available on our YouTube channel. Search DoorCoin

2)Ble73:
The DOOR Application manages all transactions between Property Owners and Advertisers”. How is this possible?. If DeFi is applicable here, then why is there an off-chain mechanism. Please explain how this works

David Daly:
This is done off-chain. Our whitepapaer explains this in detail https://doorcoin.org/whitepaper.html

3)Mitchell Johnson:
I think your project is great so can I buy your tokens right now and also which wallet support your token?

David Daly:
Yes, buy on Uniswap with USDC. We support Metamask, Coinbase Wallet or Trust Wallet

4)Imran:
Almost 8️⃣0️⃣% investors have just focused on price of token in short term instead of understanding the real value of the project.⭕Can you tell us on motivations and benefits for investors to hold your token in long term?

David Daly:
Door will be the preferred way people buy and sell home services online. We are the first real world business built on top of a crypto currency

Here is our smart contract audit https://doortoken.gitbook.io/door-token/tokenomics/smart-contract-audit

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Decentralized Club

Decentralized Club

🎉Welcome 🎉 We are a community who eats, sleeps and drinks crypto 😉 Contact👇@cryptoTALK01 @UniqueBoyDK for AMA and project promotions♻️ decentralizedclub.net