AMA with Masternoded
On 1st NOV, 2023 at 3 PM UTC, Decentralized Club
had the honor of hosting Gerald from Masternoded for an Ask- Me- Anything session on their Telegram page with a community of over 60,000 people. It was hosted by DC Admin, Miss Futuristi.
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
Masternoded 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
> Miss Futuristi:
Hello there Decentralised Club. It’s your fantastic Futuristi and I will be your host for today for yet another. awesome AMA. session with. Gerald from Masternoded
> Aferion:
Thank you Futuristi, we look forward to a great AMA
> Miss Futuristi:
Hey there!
> Miss Futuristi:
How is your day going?
> Miss Futuristi:
Hope it’s fruitful
> Aferion:
very well indeed
> Miss Futuristi:
Great to hear that
> Aferion:
been very busy with multiple IEOs but exciting as well
> Miss Futuristi:
Perfect!
Let’s begin the session!
> Aferion:
absolutely
> Miss Futuristi:
Let me quickly explain the flow of today’s events with you…
> Miss Futuristi:
Segment 1️⃣: Introduction Questions with 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 so we can move ahead.
> Aferion:
gotcha
> Miss Futuristi:
What is the most ambitious goal of your project? Can you shed details on that?
> Aferion:
interesting question indeed
> Aferion:
The most ambitious goal we have now is simplifying the process of Validator Nodes, taking out the complexities in terms of hardware, knowledge and expertise required to set them up and to maintain them. We are working on a three step process whereby a client simply needs to choose the ecosystem or chain they wish to become validators for, choose the length of time to be a validator and then click set up or confirm. Once done our technology will do all the backend work using smart contracts and APIs.
Second to this and perhaps the most exciting of all is creating our C2B and B2B lending platform for businesses and individuals in the African free trade community. The implementation process will require us having a stabilising currency and this we are negotiating to be NODED. This platform will bring trust and foster commerce in the region and help the over 700million people who live in the region to do business easily. Eliminating need for trust and loss in currency conversions.
> Miss Futuristi:
okay gotcha
> Aferion:
✅
> Miss Futuristi:
Are you afraid that one day your project’s technology will become obsolete? If so what are you doing to remedy it?
> Aferion:
haha
> Aferion:
NO. Here is why? Masternoded is a forward thinking and innovative platform. We started in 2017 and we saw today the need for a comprehensive passive income platform that harnesses the avenues and opportunities the blockchain presents, we studied the market and built our first platform that became a source of dependable passive income through out COVID depression for thousands of people worldwide. Our team is young and ambitious, and we invest a lot of time and resources into research and development. We understand blockchain and Defi are still at infancy and to become the best passive income platform on the block that means we have to stay ahead. Research and forward thinking will help us do so.
> Aferion:
✅
> Miss Futuristi:
okat let smove to next one’
> Aferion:
so we intend to remain in the industry innovating as times change
> Aferion:
absolutely
> Miss Futuristi:
What is the background of your development team, are they able to sustain the development of the project until it’s full development and beyond? If so why?
> Aferion:
great question
> Aferion:
All our founders and senior officer have a background in Software Engineering or Asset Management and Fintech. Taj and Allan are both software engineers, with over 40 years experience between them, and they have worked for various tech giants, as well as started and successfully built multi-million dollar start ups. myself am an asset manager and Fintech expert with a background in building trading and investment platforms and softwares. This coupled with the experience of the rest of the team makes us a formidable team. So yes our team is more than able to sustain this project to its maturity.
> Miss Futuristi:
awesome!
> Aferion:
Defi is basically asset management meet blockchain, with our backgrounds in asset management and fintech we are sure
> Aferion:
✅
> Miss Futuristi:
Staking and liquidity pools are some of the most attractive passive income options available in Defi, how different is Masternoded in providing these services?
> Aferion:
strong question
> Miss Futuristi:
indeed😁
> Aferion:
staking is like saving for an interest and a liquidity pool is more like lending for higher interest. Our approach to this is to curate the best of both worlds across multiple chains and platforms. So if we Know that staking ETH on Arbitrum is more lucrative than staking ETH on Polygon, then we will only offer the ETH on Arbitrum on display on our platform while other chain staked ETH will be secondary. This goes the same for Liquidity pools. With knowledge of asset management and finance we are always looking out for the best offering at the lowest risk and exposure to our clients. We also look at the security protocols of the chain and platform before we offer these services. All the while ensuring you our clients retain complete and absolute control.
There are pools which offer ridiculously high yields but their tokens are illiquid so makes no sense offering them. Staking or liquidity farming on Masternoded platform will protect users from illiquid markets, ensure they retain control and simplify the user journey to set them up. We want you stake or provide liquidity in three simple clicks that will take you less than 60 seconds.
> Miss Futuristi:
okay thats good one
> Aferion:
indeed
> Miss Futuristi:
now its time for twitter segment
> Aferion:
excellent
> Miss Futuristi:
rohim929
What trading fees discount are available on
@masternoded1
?If I hold token, is there special any benefit?What is the progress of futures trading and margin trading on your exchange and How often do you organise trading competitions on your exchange?
> Aferion:
lots of great questions on twitter
> Aferion:
now thats a lot of questions in one, but i will answer lol
> Miss Futuristi:
thanks a lot🤩
> Aferion:
first for our token holders we will be launching Holding competitions and we will also launch staking early next month or late this month
> Aferion:
regarding futures trading, we are working with all our exchnage partners to be able to meet the requirements needed for both futures and margin trading
> Aferion:
as for trading competitions and holding competitions we intend to offer as many as possible looking at market conditions and other factors
> Aferion:
thank you
> Aferion:
✅
> Miss Futuristi:
thats a great news, looking forward
> Miss Futuristi:
linghung234
What does the Masternoded name stand for? There are interesting stories behind every successful project, and of course you have to work hard ever day. Can you share one of these interesting stories with us?
> Aferion:
ohh wow, this is a great one
> Aferion:
for those who have been in crypto long enough you will you will know the first project to begin Masternoding was DASH. till now they remain one the biggest in the field. When we began in 2017, we never wanted to stop at masternoding alone, our goal coming from asset management was curating a passive income platform that will work for ordinary folks as well as hedge funds. But the name to choose had to represent technology we use (Blockchain) our idea of passive income (masternoding) and the security and decentralisation that governs the industry we are helping curate
> Aferion:
so one evening on a team bonding day out in the City of London inside the Gurkin, one of our Founders ‘ALAN’ blurted out ‘We might as well call the bloody thing Masternoded’
> Aferion:
we laughed and laughed and decided to call it Masternoded.
> Aferion:
The notion of masternoded covers security, decentralisation, autonomy, technology and passive income
> Aferion:
that’s how our name came about
> Aferion:
✅
> Miss Futuristi:
Thats interesting😅
> Miss Futuristi:
orange111210
In regards to your staking, could you provide information on the APR/APY of staking my tokens? Additionally, I would like to know if there are any specific minimum or maximum amounts required for staking.
> Aferion:
great question. The APY will average 60% pa. there minimum staking amount will be 1m Noded, there won’t be a maximum
> Aferion:
thank you
> Aferion:
✅
> Miss Futuristi:
got it
> Miss Futuristi:
miutsorma
Masternoded is an interoperability aggregator protocol that brings together decentralized applications across multiple blockchains. How do you achieve cross-chain interoperability that spans so many blockchains? What system did you use to achieve this?
> Aferion:
fantastic question
> Miss Futuristi:
thanks a lot😁
> Aferion:
when we first began this was the greatest challeng we faced. Because interoperability in the blockchain was still very very new. But we have been building liquidity aggregators for asset managers and forex traders, our idea was if we could aggregate liquidty from Tier one and Tier 2 banks to feed various fx platforms or hedgefunds, we could apply same technology for Crypto using customly developed Api’s and Protocols
> Aferion:
And that is what we are building on right now. We haven’t completed this yet but we are looking forward to the full development and deployment in the months ahead
> Aferion:
to become fully decentralised and be the go to platform for cross-chain liquidity pools and passive income on the blockchain, this question you asked is the core of our developmental focus
> Aferion:
Now, i won’t share all the intricacies otherwise we won’t have a project 🤣🤣
> Miss Futuristi:
hehe
> Aferion:
thank you though i think its by far one of the most interesting questions i have answered
> Aferion:
✅
> Miss Futuristi:
let us move ahead
> Miss Futuristi:
taitran135
how big is Masternoded project market? Who are the prospective customers you’re focusing on? What is your project’s strategy or goal for acquiring new users around the world, especially in communities where cryptocurrency is unfamiliar?
> Miss Futuristi:
last one from Twitter segment
> Aferion:
hahaha
> Aferion:
thats another multi layered question
> Miss Futuristi:
onion like question lol
> Aferion:
our market is global. Basically all people interested in passive income. From our current data base, we noticed that people over the age of 23years are ideal clientel for us, Our audience is almost uniformly spread across Europe, Africa, America and Asia
> Aferion:
One of our biggest market as earlier mentioned will be the African free trade agreement region with over 700 million people providing them a lenging platform where everything will be governmed by smart contracts and NODED being the stabilising currency of exchnage between the people and investors
> Aferion:
this will require education from our side as well, which brings non-crypto communities into Masternoded ecosystem all at the same time delivering value for our token holders.
> Miss Futuristi:
thats a good one
> Miss Futuristi:
lets move ahead to our live segment
> Aferion:
Other than education we are working with influencers across the world to increase awarenes of our platform, even in terms of our exchange partners we have majority focusing on the Asia and South East Asia market becuase we were a little weak in those markets, that brings us closer to those communities
> Miss Futuristi:
Here is a summary of all links from Masternoded
Telegram: https://t.me/Masternoded
Twitter: https://twitter.com/masternoded1
Facebook: https://www.facebook.com/Masternoded
Instagram: https://www.instagram.com/masternoded/
WhatsApp: https://chat.whatsapp.com/KpyXWDqeweGIz6rnvbqnxc
> Aferion:
✅
> Aferion:
we encourage you to join our communities
> Miss Futuristi:
👌
> Aferion:
for airdrops and updates
> Miss Futuristi:
muted
> Aferion:
thats a lot of questions, allow me som minutes to review
> Miss Futuristi:
@AFERion get ready to answer to best 5 questions
> Aferion:
yes
> Miss Futuristi:
sure
> Aferion:
great question. We started with Validator nodes and it was for the blue chip cryptos and ecosystems like ethereum, polygon, solana etc. By managing these in a centralised manner we were able to reduce or manage risk accordingly, with deep research of the markets our strategy was able to sustain all our clients and supplement their incomes during COVID. Many actually relied on their income from masternoded to make it through
> Miss Futuristi:
4 more 2 go
> Aferion:
awesome question, every projects success is depended on the communities trust and involvement. Thousands trust us because through out the worst of the bear market and pandemic our platform Masternoded delivered. major players went out of business but we remained. That taught us a great lesson, and that is NEVER loose the trust of your community. So our strategy is to keep building trust, delievering on our road map, and being honest with our community. If we miss something or mess up we will be open about it, get grilled by the community and build on better
> Miss Futuristi:
3 more
> Aferion:
excellent question. Our plan is that for every product launch or service we will do a bug bounty hunt. This will help us spot what was missed and correct it. When we upgrade our protocols we will still do a bounty hunt and even organise hackathons to helps us protect users. We are very much aware of the horror stories and so far we have done well, but we intend to do more in the months ahead to keep users safe
> Miss Futuristi:
2 more
> Aferion:
Amazing question. One of the primary use cases is that for token holders they will pay 50% less fees and commissions on all our platform products and services. They will also be allowed to participate in our governance and benefit from occassional buy back programs. Once our lending platform is luanched they will enjoy priority opportunities and if they send money abroad they will do so free of charge
> Miss Futuristi:
last one to go
> Miss Futuristi:
last one to go
> Aferion:
yes. Of recent we just completed our wallet developments on both Android and IOS. We will be launching this immediately after NODED begins trading. We also have completed our Staking smart contract and will launch as soon as our IEO ends. We also have two major announcements to make that will shake the crypto industry early next year. So Now is truly a good time to Buy NODED.
> Aferion:
Our first liquidity pool is coming to our wallet by january
> Aferion:
for more on our roadmap here: https://ico.masternoded.com/#roadmap
> Miss Futuristi:
thats done
> Miss Futuristi:
perfectly done’
> Aferion:
✅
> Miss Futuristi:
That’s all for today and with this, we come to an end of this awesome session.
Thanks a ton for such a proficient session.
Some concluding lines you wanna convey to our community
> Aferion:
sure
> Aferion:
guys first thank you for your time, our promise to all our community is to deliver all what we say. we encourage you all to join our communities and to participate in our IEOS
> Aferion:
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✉️Telegram channel: https://t.me/Masternoded
✉️ Telegram Chat: https://t.me/MasternodedToken
🕊Twitter: https://twitter.com/masternoded1
Note: 100 lucky winners will be selected to receive $50 worth of Noded. Must complete all tasks.
> Miss Futuristi:
Community note it down’
> Aferion:
for This AMA i was asked to give out $20 extra to anyone who will subscribe to any of the above IEO platforms and sends me proof
> Miss Futuristi:
😍
> Miss Futuristi:
go gog go
> Miss Futuristi:
Thanks again for that awesome AMA session, the well detailed answers🔥.
It’s your fantastic Futuristi signing off.
Peace out🙌
> Miss Futuristi:
AMA concluded
> Miss Futuristi:
unmuting chats
> Aferion:
thank you @Miss futuristi
> Miss Futuristi:
you’re welcome
> Aferion:
waiting for you all in our communities
> Miss Futuristi:
join them guys
> Serge Simonian:
Great AMA
> Aferion:
thank you