AMA with Konstellation
On the 8th of April, 2022 at 02:00 PM UTC, Decentralized Club had the honor of hosting Konstellation from Sang H.Lee and Natasha Bans for an Ask-Me-Anything session on their Telegram page with a community of over 70,000 people. It was hosted by 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 Konstellation 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
Hi Everyone! Hope you guys doing well😊
Today i back with hosting an AMA session with the Decentralized Club.😌😌
My name is Ella and I will be hosting Viking Poker in this session.☺️
Let’s welcome our guest @Knstl_OG
super excited to here with my team members as well
Hey OG! You’re welcome to Decentralized Club ! It’s our pleasure to have you !🤩
How are you? How’s was your day so far?☺️
How’s everyone doing today?
We are doing great! Thanks for asking!😌
Weather finally got better after a couple of days of rain so very happy about that
Looks like a lot of great members in this community!
Yeeah! we have a big community here with amazing people🔥
Can you introduce yourself to the Community ?
Amazing hey everyone!
I’m the co-founder of Konstellation Korea, the primary development company for Konstellation Network and am joined here by my amazing co-founder @[Bans]_DARC. We’ve spent over 5 years now building the in the blockchain industry and really excited to share our vision and connect with the community here. @[Bans]_DARC Could you also share a few words to introduce yourself?
Hi Everyone, glad to be here thanks for having us! I am the co-founder at Konstellation and have been building fintech solutions for just under 10 years, the last 5 focused on blockchain. I head up operations and marketing for our projects, and we’re excited to share more here today!
Hey Bans! Nice meeting you!
Nice to meet you too Ella, this is a great group we’ve heard good things about!
Yeeaah! Thanks [Bans]🤩
Let’s dive into the session!😉
starting with our first Segment!
Q1. Can you give a brief description about konstellation ?
Kindly type”✅” after you are done answering!
Konstellation Network is a protocol built using Cosmos SDK and building the backbone for the decentralized capital markets. We know that the future of the decentralized economy is contingent on the build out of secure and efficient flow of value from one place to another. Right now, even though we’ve done so much build out the market is still fragmented.
Recently there has been a lot of focus around cross-chain bridging and interoperability which are also key to the future of the web3 economy, but even more than that a user interface for everyone to move, store and safely invest their assets.
Capital markets basically define the global web of all value that pulses around the world today including foreign exchange, commodities, stocks and everything with value. But we have never had the ability to decentralize this infrastructure and Konstellation is building it today.
We don’t have to rely on big institutions or trusted parties to exchange assets or money anymore and Konstellation will make that possible with an interoperable platform that encapsulates all blockchain based assets. LFG!
ohh waaooo! That’s Great!
Q2. What are the major products / features that benefits the user in your platform?
Interoperability — Because we are built on Cosmos SDK we are also IBC enabled and part of that community. This is going to be a key part in the future as value and capital are always platform agnostic in the long run. Even restrictive regulations or different regimes will only be able to use the rules to a certain extent if they are not designed for more efficiency and investor protections in the long run.
Creation of Different Assets — Including NFTs and different financial instruments there is so much innovation in the space. To be truthful, a lot of it will probably not make it in the long run, but the most important thing is that there is creativity in the space to think about how the future of economy and value will be exchanged in a decentralized way. Even how financial assets are created and shared has always been centralized and heavily intermediated.
And — Tokenization of Financial Instruments: The requirements for financial instruments are changing as fast as the blockchain space is moving particularly as DeFi growth is accelerating. Not only will decentralized financial transactions be more efficient, there will also be better returns to be made.
LOL that was supposed to be ✅
Q3. Can you give a brief about Squid Squad OG game and its gameplay?
I thought we were getting creative with the check mark
It’s okaay! i got that😝
Yes, we love love the Squids!
Konstellation also has Solana-based NFT game projects like Squid Squad OG that allows $DARC holders to play and earn crypto with NFTs. Squid Squad OG metaverse comprises 3,192 Squid OG’s to give NFT miners a chance to hit the jackpot. All NFT holders participate in a Battle Royale of Rock, Paper, Scissors where losers are burned and survivors can be rewarded up to $45,600 in crypto prize money.
Please tell our community too🤩
Check out our site to learn more and we even have a special initiative right now to aide the Ukrainian people during this difficult time. https://squidsquadog.com/
We’re raising crypto donations by allowing people to purchase special edition Squid Squad Ukraine NFTs, ALL the crypto raised will be matched by the Konstellation Foundation AND ALL donated to Ukrainian Charities!
We love the squid squad and all of the stories!
Please tell our community too🤩
Waooo! that’s a generous thing you guyss are doing!❤️
CHECK THIS OUT PEOPLE🎉🤩
Q4. How is Squid Squad is different from other games present in the market?
We’re playing a small part, but we think it’s important to help!
The assets themselves have already been gamified so already have new value. As the NFTs play each other the rarity becomes higher as NFTs have been eliminated and the prize pool gets bigger, just like Squid Games!
If everyone has watched Squid Games, they will be aware that the prize pool increases every time that a player is eliminated! Also, we allow for a vote in order for the community to be able to determine whether to continue the game or to discontinue and split the prize pool.
Also direct use cases while increasing value is really important for the NFT space and something that Squid Squad OG has been focused on. Also the native token for Konstellation (DARC) is being used but using bridges to transfer between the native version and the SPL DARC (Solana).
We are super excited about how interoperability will affect the future of the NFT economy and leading the charge in building it! 💪🏽
OKayyy! Moving on to the last questoin from segment -1
Q5.Can you tell us what are next major priorities in 2022 for both the projects?
Yes! WE have a LOT happening this year and we’d love to share some highlight
One we talked about alread — #SquidSquadOG — Squid Squad OG is one of the important NFT initiatives that we have for Konstellation Network and the DARC token ecosystem. However, Squid Squad OG is just the beginning of the NFT vision and roadmap for Konstellation Network.
In addition to p2e, we know that there are massive new opportunities in NFTs that can act as financial assets, such as real estate, real world art and/or goods. There is still an entire universe that needs to be built and we know we’ll be a part of this.
For Konstellation Network, we are focused on creating the bridges and interoperable assets for investors all around the world. That means in 2022, there is still so much to build and collaborate on with new partners as we make the future of blockchain investing easy for every single person around the world. Right now, DeFi is still quite difficult and various new technologies are still being developed, but we want all of these assets to become new opportunities for the global community.
Those are some of our major priorities for 2022, with more to come!
[ 👌 Sticker ]
Telegram wants me to use fancy emojis 😆
Ohh waaooo! 🔥
Yeeaah! it has some good emojis!😉
We have reached to the end of segment 1
Let’s now take some questions from our Twitter community!
Let’s do it!
Q1. Do the token holders have right to participate in the governance of the project? secondly, you tell us about the motivation and benefits for investors to keep the your token in the long run?
Ans 1.Yes,we are building the direct governance mechanism which is tied to the bonded tokens on Konstellation Network. However, in addition to that we will be introducing a completely revolutionary system for ecosystem project governance which will also use DARC to become a part of the governance in projects that are built on Konstellation Network or will also use DARC as part of its token economy.
In addition to the massive value that is being through the entire Konstellation ecosystem, there are rewards that are on Osmosis and the direct staking rewards that are available by bonding through wallet.konstellation.tech.
Q2.Can you tell us some of the use-cases of the #DARC tokens in your platform?What are the uses of this tokens in your platform and in the market?What are the benefits when buying and holding #DARC tokens for a long period of time?
Ans 2.A few use cases right now allow token holders to participate in Squid Squad OG games (We mentioned before) , earn better returns on $DARC through staking vehicles on Konstellation’s Hubble, and furthermore, we have a new incentive pool live on Osmosis!
The new incentive pool available on Osmosis Zone stands at 10,000,000 DARC tokens, composed of 5,000,000 $DARC/$ATOM pool and 5,000,000 $DARC/$OSMO pool for bonus bonding rewards. The bonus bonding rewards increase according to the duration of the incentive pool, ranging from 500,000–5,000,000 $DARC over a period of two weeks. Given the significant APR rewards currently available for OSMO, the incentive pool allows participants to earn additional 50% — 150% APR in DARC rewards.
OKaayyy! This is something new i came accross🤩
Q3. Alkemy Mint, VegaX, Taebit, and Squid Squad OG are just a few of the ecosystems that #Konstellation hosts. Please elaborate on the characteristics of these ecologies. What is the connection between the two? Which of your ecosystems are profitable for your customers?
Ans 3.This is a great question because the Konstellation Ecosystem is growing as we continue to create more value for $DARC
First, the Konstellation ecosystem is still being developed and is evolving everyday. Each of the projects are taking a different approach to creating additional use cases for $DARC.
There is an entire universe being built which comprises DeFi, asset management, DEX, NFT and p2e. All of these elements we believe are going to be critical and necessary for the future of the decentralized capital markets.
For Example — Alkemy Mint / Taebit is a synergistic combination between a decentralized stablecoin system and a decentralized exchange. However, what is highly unique about this is because the system is able to mint and trade in any global currency denomination. This will be the first time that the stabilization of a decentralized multi-currency stablecoin will be tied to the activity of a decentralized exchange.
and THAT is really cool. We’re excited about it. 🚀
Q4. Many of the Play2Earn gaming platforms have high barriers to entry for players with low investment capital. In the case of #KNSTL_TECH how have you managed to solve this problem & guarantee easy and fair access to all types of players? What does it take to access #KNSTL_TECH?
Ans 4.So — to play Squid Squad OG, players will need a ticket to enter. 1 ticket is only 100 DARC which is less than $1. In the first batch of the game, 321 USDC and 417 DARC were distributed to each player that won the game. The entry point is quite low with a huge payout for the winner and player.
The game itself was stored on the blockchain so as to make the moves immutable. However this also has the downside of making the move public. The team worked really hard to be able to hide the move from other players while also benefiting from storing the move on the blockchain.
We are getting ready for Batch 2 and the next set of games, after we complete the Squid Squad OG Ukraine NFT Donation initiative!
Q5.Could you give us an overview of the tokenomics? Is the token designed to rise and fall with the success of the platform? And does it include any scarcity paths such as stake, store, or burn?
Staking — Staking rewards are available on wallet.konstellation.tech and you can purchase the amounts on Osmosis and Raydium. In order to stake on Konstellation Network, it will have to be the native version which can be bridged if necessary on bridge.konstellation.tech.
There are other rewards systems that will be built for DARC holders that are staked. It will allow for the creation of a synthetic asset that can be used in the governance of the ecosystem projects. This is something super exciting that we are working on that we will announce shortly, called Federated Quantum Governance.
Looking forward to it🙌🏻
Tokens are incentivized to be locked up in order to stack rewards even though there is inflation in the system to encourage people to lock up the rewards. As the ecosystem continues to grow there are going to be so many various opportunities in order to get rewards by holding and staking DARC so now is the time to get in at a great time!
Guyss! Your project is AMAZING!🤩
Ending segment 2 with great Information about the project!☺️
Time to take up some questions for segment 3 from our live audience! Guyss be readyyy to shoot your questions😉
Please pick five original questions to answer.
Try to ignore generic, vague, and copy-paste questions 😊
woohoo let’s go!
AMA Rules for the community
🚨DC AMA Rules🚨
1️ 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 🙄
2 Post only original questions. Members with stolen questions from DC or other AMAs will be disqualified and banned.
3 There will be slow mode to prevent spamming.
4 Join the guest and host (DC) Telegram and Twitter pages to be eligible for rewards. Check pinned post during AMA for details.
5 Don’t tag the guest in your question or your question will be deleted.
6 Follow all the special instructions the host gives before the live session. Pay attention.
7 You can only win once in one segment no matter how many times your questions were picked.
8 Telegram username should be present in your Telegram Account, otherwise you will be considered as DISQUALIFIED.
Please join our courtroom for disputes and to report copied questions and cheaters with relevant proof.
🔔 THERE ARE NO REWARDS FOR DISQUALIFIED QUESTIONS. DON’T CHEAT AT ALL 🙂
🔔 KEEP TO THE RULES AND COLLECT REWARDS. NO REWARDS ESPECIALLY FOR COPY PASTE QUESTIONS.
THIS RULE APPLIES TO ALL AMA SEGMENTS, NOT ONLY LIVE SEGMENT, WHETHER IT WAS POSTED BEFORE THE LIVE SEGMENT DOESN’T COUNT AS AN EXCUSE.
TRY OTHER GROUPS IF YOU CAN’T COMPLY.
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
Yeeeaah! Guyss we have a lot of Questions from our Audience!
You Guys can go ahead and answer any 5 questions you like🤩
Q1.I read in your whitepaper that “Konstellation Bridge will enable DARC holders to move DARC across multiple chains with ease”. Can you give us a list of chains we can move our DARC tokens to using Konstellation Bridge? How many Chains currently supports DARC tokens? @RuthOdion
Thanks for this amazing question as the core development team is working around the clock on this. Right now we have the bridge available between Konstellation Network, Cosmos SDK, Binance Smart Chain and Solana. In order to use Solana you do have to also utilize wormhole, but it’s quite easy to use now. We are continually expanding these choices for our community and to connect with other projects!
Q2.What’s the easiest way one can understand what you guys are building and where is DARC available to purchase at the moment? @Zelafet
Easiest way to understand what we are building, visit our site and take a look at our litepaper: https://konstellation.tech/
Best way to get $DARC?! — -> Osmosis! https://info.osmosis.zone/token/DARC
Also please join our TG and follow us on social media! https://t.me/Konstellation
3 more to go!🎉
Yesss! People Please join their Socials😍
Q3. 1. How does Konstellation intends to be the financial services industry hub for Cosmos and other blockchain ecosystems?
2. Can you share us some of your strong features like how you are the backbone for decentralized capital markets?@topind7
The financial services industry or what is the future of the decentralized financial industry has so much building that is required. First of all, the protocols and assets need to be able to move across each other in a seamless way. There will be no customer service or some responsible that can do this type of transfer for any user.
The ability to create and transfer assets on the blockchain are going to be super important while being blockchain agnostic, which is what we are building.
We are focusing on the bridge aspect, single point of reference for decentralized custody and asset management, while also building it in a highly usable way.
Q4. Staking programme is very important for any project,? Can i stake your token,? Do you have any plan of starting staking programme??🧡@PlatoFarm8588
Yes — staking capabilities and functions are important! We have $DARC staking available currently via our Hubble Wallet. You can delegate your $DARC to various validators, and earn returns by staking your $DARC.
https://wallet.konstellation.tech/ This is creating great value for our token holders.
okaayy! 1️ more to go! HAHAHHAHA
You guyss are really quick!🔥🔥
(We love good community questions about Konstellation!)
Our Community is the best!🔥
I can see the LIST of PROJECTS in the Konstellation ECOSYSTEM that will use the DARC token as fuel for operations on your whitepaper.
Q1. Are you going to add more in the nearest future? Or those will end it?
Q2. What are those requirements a project must meet before they can join your ecosystem?@samuelkenny1
The ecosystem projects right now are just the beginning, but cover a wide range of topics that we mentioned before including decentralized stablecoins and the NFT and p2e industry. We are going to be continuously growing the ecosystem, but having other projects building using DARC, but also having the core development team innovate on new use cases.
We don’t have any specific requirements for joining the ecosystem, but it does have to be tied to the building of something related to decentralized financial services and making it better and easier for investors to come into the blockchain capital markets. As long as these conditions are met we are happy to talk to new projects!
it’s a wrap! 🥳
Thank you so much for a wonderful ama @ella_xoxoo
Thank you dear guest for your time 😊
Your Project is AMAZING🔥
and thank you to the community for staying with us, hope you all joined our socials and telegram group to stay up to date on new updates and progress
Cheers🥂 to you and your team for their time and effort in making this project a success!
Thank you @ella_xoxoo! Thanks to the whole DC community!
Yeeah! Looking forward to it!🤩
Thankyou for choosing us!❤️
you are all rock stars
and thank you for learning about Konstellation and hope you will join us on the journey!