Decentralized Club
9 min read5 days ago
AMA with INTMAX

On the 4th of july, 2024 at 4PM UTC, Decentralized Club had the honor of hosting Leona Hioki [co-founder] from the INTMAX 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 INTMAX 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 COMMUNITY people,
What's up, GUYSS Hope you all are doing well!
Quite a long time 🤩

For those who are new joined, let me introduce myself 🥳
My name is Ella and I am an AMA host in Decentralized club
Today i will be hosting INTMAX here😊
Hope you guyss are readyy to see what this project brings us🤩
With this, Let's welcome our guest @LeonaHioki

[Leona]
Hi!
Excellent to meet you guys!

[Ella]
Hi Leona,
You’re welcome to Decentralized Club! It’s our pleasure to have you!

[Ella]
How are you?

How has your day been going so far?

[Leona]
Me too. My pleasure.
I've been good. I'm in Brussles to prepare for Eth CC

[Ella]
ohh nice!

Let me give you an overview of the session then we can start
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 ✅ when you are done

[Ella]
Hope you are clear, can we start?
Starting with the first segment

Q. Can you introduce yourself to the community, how you got the idea to start intmax? What problems do INTMAX aim to solve?
Ans:
I'm Leona. I'm an architect and a coder.
Actually I've been researching the socalability of blockchains for a bit long period. I've been obessessed to make fees low since 2018.
Intmax started in 2021 because I got a good idea.
L2 was not so famous at that time. And Rollup was called Layer1.5, I wanted scale Rollups more.

[Ella]
Q. What is INTMAX's stateless architecture, and how does it benefit users and developers?

[Leona]
Stateless means that we don't "use a blockchain" to scale a blockchain. Having data and do computation are on user sides. But we can have the same security of blockchain. It sounds very funny right?

[Ella]
Yess exactlyy

[Leona]
Then users can have
1. the extreme scalability
2. good privacy
at the same time.

If there are billion users, there's the billion level parallization.

[Ella]
like without blockchain how will you do that

[Leona]
A L2 block will be hashed, and only the hash will be recorded on chain like a beacon.
So almost no use of blockchain's block space.

[Leona]
Everything else will be on user side.
There are
1. zkp computation
2. data preservation
on your side!

Q. can you tell us about your upcoming event PlasmaCon?
[Leona]
Yes, Plasma Con is about Plasma.
Plasma was the very good topic in 2018 and almost all tech bros were talking about that. Intmax also started from Plasma.
Plasma was once dead because of a tech problem.
But Intmax is one of the tech bring Plasma back to the main stage.
So on 31.07, we have Plasma Con to talk about Plasma.
Vitalik, Justin,.. many ppl come to the event. And David Chaum is also there. He's a guy quoted from Satoshi in the first Bitcoin's paper.
It must be interesting!!
The reason why ppl are talking about Plasma again is basically its statelessness.

[Ella]
okay with this we have came to the last question
[Leona]
Cool
[Ella]
Q. Could you provide the INTMAX plan for future?

[Leona]
Basically 3 things we need to tell you guys

1. Mainnet launch in Octorber
The stateless L2 launches in Octorber. Let's enjoy the best scalability.
2. The minning also starts around Octorber.
The mining is very unique in our system. *It will rewards your privacy.* You can literally mine that.
3. Stateless narrative from 2024
Stateless is the most important tech trend right now. It's not the famous now, but researchers are talking about that a lot. This is *after Modular*. Ppl will find the current limitation of modular trends, and 100% that we will see the shift to stateless.
I forgot to say that a very good wallet will be published in weeks from our teams. Pls try that as well.

[Ella]
With this we have came to an end of segment 1
SEGMENT 2
Let’s now take some questions from our Twitter community!
should we start for segment 2?

1) What is your planning for global expansion? What is the long term safety standard benefits we can expect from your how much we can be benifited if we hold it for a year,how can beginner buy your token what is the system,Are your project a global or local project? @MCCOYY33
[Leona]
Of course, a global project!
Long term benefit we can bring is
1. stable and the lowest gas fee. "stable" part is unique, right? No matter how many ppl come to this network, it can stabilize it.
2. Privacy and the investment opportunity to privacy

[Ella]
2) " Minimal cost and requirements on preconsensus mechanism"
Aside allowing anyone to participate as a Validator, would there be any form of requirements Needed by the Validator? And A particular numbers of Validators at a particular time?@CloudDelli

[Leona]
This system may sounds very strange since validators don't validate.
We have block producers (which many people call validator). They records transactions but they don't verify them. The user side's ZKP will maintain security instead. This is what we call "stateless architecture"
So we almost fired validators. Only the job left for them is making hash trees(block).
You can see that it's extremely low cost to host block producer nodes, right?
Basically, everyone even with a very crappy machine can be a block producer.
like Rasberry Pi2 or even Windows XP lol.

[Ella]
3)How does Intmax improve both scalability and privacy on the Ethereum blockchain through the use of zkRollups and what is the importance of these improvements for the future of the Ethereum ecosystem?@AlexBitcoin12

Ans
[Leona]
Let's say Intmax is not just a implementation level progress of zkRollup, it's a totally new tech to improve zkRollup on the theoretical level.
It makes the stability of fee, unlike the usual gas/fee market, bringing privacy to everyone with the scalability.
lack of stability and privacy is the main problem of Ethereum in these days.

[Ella]
4)Trust is very important in business. So, what makes investors, customers and users feel safe when working with
@intmaxIO
? And how will you get the trust of many users that have negative thoughts about Blockchain and DeFi? @Miutsorma

[Leona]
Just doing the same stuff for long time I think.
Ppl hop one to another in this space, and this makes less trust on the system.
But let's remember that we did not even finish the promise of the first vision of crypto which this space this in 15years ago.
We did not change world payment yet, we did not improve the privacy of finance yet.
So finishing the old promise and keeping the old vision and culture is actually so important for me
I think this also answers to this as well.

[Ella]
5) Could you tell us a little about intmax greatest achievements last month, what are intmax working on right now? What are the main thoughts you want to convey through today's AMA?@Orange111210

[Leona]
> last month
I forgot last month, wait a bit😅

[Ella]
Okaay okaayy sure
Go ahead
[Leona]
Ah, yeah,
Last month, we fixed the final version of the architecture before the mainnet. Meaning that it's really close.
The mining part was very important. I want to make it last more than at least 2 cycles.
The tokenomics which lasts more than 2 cycles is something interesting goal for me. (Of course it should perform the best for the one cycle.)
>What are the main thoughts you want to convey through today's AMA?

[Leona]
1. Statelessness is cool
2. Privacy is exciting because it's freedom!!
3. We should use crypto payments more because we have the scalability now!

[Ella]
Want to know in depth 😍
Done?

[Leona]
The depth of these?
>1. Statelessness is cool
>2. Privacy is exciting because it's freedom!!
>3. We should use crypto payments more because we have the scalability now!

[Ella]
No no we are cool here!
with this we have came to an end of segment 2

SEGMENT 3

Time to take up some questions for segment 3 from our live audience! Guys get readyyy to shoot your questions😉

[Ella]
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 🙄

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3️⃣ There will be slow mode to prevent spamming.

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Excuse like restricted or banned account and forgot to text in 24 hours because of some reason wont work.

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Q1. How does INTMAX plan to handle regulatory compliance and governance issues across different jurisdictions?@junnurainmafiz

Ans
There are 3 things we did for that.
1. limiting the deposit by chain-tracers to eliminate funs from crimes like North Korean hackers.

2. limiting deposit amout itself.

3 introducing Proof of Innocent system. it means that users can prove that their money is not with crime funds cryptographically.

3rd one is the important. we have privacy *and compliance friendly*

Q2. What roles do Multi-Party Computation (MPC) and Fully Homomorphic Encryption (FHE) play in the Intmax wallet, and how do these advanced technologies ensure the security and privacy of user transactions?@CryptoCaroline

We don't use FHE for privacy. In INTMAX Wallet, FHE makes multisig without contract wallet. It's EOA like usual address but also a multisig. I felt like it was magic when we applied that to it.

Q3. How does INTMAX handle the verification of transactions without storing data on Layer 1 (L1) blockchains?@Blakestt
So storing only hash of the transactions.
The everything else will be input to the zkp circuits and will get finally checked when withdrawing money to L1.
(BTW this is the best explanation. I took so much time to make it, so I hope you enjoy it
https://www.youtube.com/watch?v=RFoK4WL6mZo)
Basically L1 is preventing the double spend in that context.

Q4.

How does INTMAX ensure the sustainability and long-term value of its token?
This is what I spend time for.@Yashar1Gisele

Basically I presume that the value or demand of privacy is on a long term. And if we can convert the value of privacy or the revenue of privacy to the tokenomics, we can make it investable and sustainable.
The reward system is all about this point.

Q5. CAN you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team??? @voviReal

[Leona] I'm thinking about 0 premine and the fiar competition.
Everyone can join that because its rewarding privacy, it's like just using it.
Of course you can farm/mine that if you make the program.
mining is like a short interval airdropping. imo

[Ella]
With this we have came to an end of the session

🤩

[Ella]
it's a wrap! 🥳
Your answers were brilliant!
You guyss were amazing! Loved to have you both here!

Thank you for your time 😊
[Ella]
Cheers 🥂 to you and your team for their time and effort in making this project a success!

[Leona]
Thank you so much @[Ella]_xoxoo
and you guys!!
[Ella]
Thankyou for choosing Decentralized club❤️

Decentralized Club

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