Decentralized Club AMA Recap with BOSagora

18 min readJul 15, 2022

On the 15th of July, 2022 at 12:00 UTC, Decentralized Club had the honor of hosting Vicky Yip from BOSagora for an Ask-Me-Anything session on their Telegram page with a community of over 100,000 people. It was hosted by DC Admin, May.

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 BOSagora 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

[May]

Hello, नमस्ते, สวัสดี, Selamat!

I’m May, your host for the AMA today 🥳

We have an exciting AMA with the Bosagora Team starting now.

I hope you have all prepared killer questions for the Team! 🥳

If you would like to know more about the Bosagora! Stick around for the session! You could win rewards for asking stellar questions!

Let’s welcome our guest and get started.

You are welcome to the Decentralized Club 🥳

https://t.me/decentralized_club/870765

[Vicky Yip]

Hello, Decentralized Club community. I am Vicky from BOSagora. Thanks for having me today:D

[May]

Ms. Vicky, you’re welcome to our community

How’s your day going?

[Vicky Yip]

Hi May, I am good, thanks for asking

[May]

Awesome! Without further ado, let’s get right into the session.

[Vicky Yip]

Great, I am ready

[May]

Can you tell us about yourself and your role at BOSagora?

[Vicky Yip]

I’m Vicky Yip from BOSAGORA, and mainly in charge of global marketing. I am pleased to introduce BOSagora($BOA), the BizNet we launched last week, and the first use case based on it. Also, our MetaCity (=Metaverse platform of BOSaogra) and development update today.

[May]

A three-in-one project! That’s amazing!

We’re delighted to have you with us!

Now, let’s take some questions about your projects.

[May]

A three-in-one project! That’s amazing!

[Vicky Yip]

We have received so many questions from your community, and we picked a few of them to give you a response.

[May]

Yes! Coming soon :)

Can you please give us a brief introduction or summary of BOSagora?

[Vicky Yip]

Sure, BOSagora was the first ICO project in South Korea in 2017. Within the mission of ‘Making a better world’, here are goals that we aim to achieve.

1. Creating a whole new financial environment, an economic environment that is secure and convenient.

2. Making a better world by contributing to the SDGs set by the United Nations.

We recently launched an independent network, called ‘Business Network’ (BizNet), optimized for building a business ecosystem. After the announcement, we also announced the first use case based on BizNet, NFT, and FM_US NFT.

[May]

Wow. I especially love your second goal of contributing to the UN Sustainable Development Goals. I’m an advocate for SDGs as well.

Great work!

[Vicky Yip]

Happy to hear about that. ☺️

[May]

🥳

I heard that BizNet was announced last month. It was developed to focus on the business environment. Can you explain more about the advantages of BizNet?

[Vicky Yip]

Sure, BizNet has been designed with the goal of high versatility from the beginning. It is compatible with the Ethereum network that supports smart contracts as well.

It also provides a swap function by issuing Biz-BOA tokens to increase the convenience of using points/tokens in the BizNet network. In addition, a bridge function is also provided to increase compatibility with previously issued ERC20-BOA tokens.

https://t.me/decentralized_club/870803

https://t.me/decentralized_club/870804

BizNet not only allows the deployment of smart contracts to issue ERC20 tokens, but also allows implement of Dapp, NFT minting and trading, DeFi service, and Service-to-Earn (S2E) services such as Play-to-Earn (P2E) and Move-to Earn (M2E).

https://t.me/decentralized_club/870805

[Advantages of BizNet]

1) Fully compatible with EVM

2) Dapp points/token<->Biz-BOA tokens can be exchanged through Swap

3) Biz-BOA<->ERC20-BOA token can be exchanged through Bridge

[May]

👏🏼👏🏼👏🏼

Most of us are interested in this — what are the differences between BizNet and the other network that allows node operation or block generation?

[Vicky Yip]

Yes, some of our community members are facing the same question as yours. Block generation rewards will be implemented on the Mainnet, and we call it Agora Network (AgoraNet). BizNet was developed separately, a network optimized for business execution such as token and NFT issuance, Dapp and DeFi interworking, and now we have 9 nodes designed to create blocks (authorization), eliminating the need for separate holder node operation. Therefore, there is no block generation reward in the BizNet at this moment.

When the Agora network is completed, BizNet will also switch to a proof-of-stake method and the two networks will be integrated.

Currently, 9 node operators are verifying blocks, and you can find block information, transaction information, wallet balance, BOA information, etc., added to the blockchain through the block explorer.

Although it is not allowed to participate in block consensus, anyone can open a non-authority node that can verify all information on the blockchain, so transparency is still guaranteed.

[May]

Thank you for the detailed answer, Ma’am.

As I know, the team is ongoing the development of AgoraNet while developing BizNet at the same time. So will it affect the total supply when cryptocurrencies come from 2 different networks?

[Vicky Yip]

Before we go into circulation, let me briefly explain what these two networks actually are.

https://t.me/decentralized_club/870816

[Vicky Yip]

AgoraNet, a network aiming to implement DAO through node operators’ participation in the project in the form of congress network and execution Commons’ budget accumulated by block generation. In other words, the project’s ecology is a network in which node operators discuss and lead to execution decisions.

BizNet is a network aiming to revitalize the token economy such as Dapp, NFT, Defi, and S2E(Service to Earn). It specializes in building a business ecosystem equipped with smart contracts and compatibility with EVM. In other words, it is a network that enhances the utilization of tokens by linking Dapps and services.

The development of AgoraNet is currently in progress. However, due to the development schedule, the smart contract is expected to be completed next year and is full of unpredictability. Therefore, to revitalize the business quickly, we believed it would be more reasonable to develop a separate network, keep continuous on AgoraNet and create a new one, BizNet.

After announcing the BizNet, one of the most frequent questions from the community was about the issuance and circulation. In conclusion, the number of tokens issued on BizNet does not affect the total supply.

We will issue 450 million Biz-BOA tokens, the same as the ERC20-BOA token. However, at the beginning of the publication, it was only distributed within BizNet for service providers and users. So, Biz-BOA tokens are not on the market.

Since then, it has been designed to not affect issuance and distribution through a bridge function that freezes the number of tokens on one side and provides them on one side when a conversion request occurs.

Therefore, the issuance or distribution of ERC20-BOA tokens does not increase due to the issuance of Biz-BOA tokens. You don’t have to worry about this.

[May]

Just a minute for the community to catch up 🥳

[Vicky Yip]

Sure:D

[May]

I saw that the team also announced the first use case after launching BizNet a few days ago. Please briefly explain the first case.

[Vicky Yip]

Yes, we are so excited to share the use cases we’re debuting with BizNet.

Investors are welcome to purchase the FM_US NFT on CROWDY, which is a well-known crowdfunding company in South Korea. The NFT was planned to celebrate the remarkable achievements of US funds run by our strategic partner FMtechnology, and we are only offering a limited amount of 1,000 [FM_US_NFTs] this time.

For more information about FMTechnology and funding, please check the page on CROWDY. But we still would like to introduce some benefits for those who own the NFT.

📌- FM School 1-month subscription coupon (regular price 48,000 KRW)

📌- $BOA Airdrop

📌- 100% refundable NFT

📌- Various additional events

But sadly to tell you that NFT is targeting the Korean market this time, hopefully, we can move forward as fast as we can. In the future, BOSagora will strive to revitalize the blockchain economic ecosystem by aiming for a global network that complies with ESG and SDG.

[May]

Aww! I wish I could own one!

Best wishes for the FM_US NFT.

Looking forward to hearing about a global market.

On the other hand, we just found lots of news about the <2021 Global ESG MetaCity Summit> which was held last year. It was awe-inspiring. Any latest updates on MetaCity?

[Vicky Yip]

We appreciate your interest.

ESG MetaCity is not limited to the public domain through the metaverse but is still in progress to emerge as a medium that connects the virtual world with the real economy in various fields such as finance, real estate, travel, cultural rebirth, shopping, and entertainment.

We are still discussing more services to expand our MetaCity with different kinds of enterprises. With the new network, BizNet, we are also considering some ways to activate our MetaCity. As explained above, point tokens can be converted to Biz-BOA through the Swap that was developed by our development team and vice versa. Biz-BOA can also be converted to specific point tokens. I think this will increase both the number of users and the services that MetaCity can provide while also increasing the need for point tokens/Biz-BOA tokens.

To be honest, MetaCity is a large-scale, costly, and time-consuming project, so a long-term perspective is required to reach a stage that we are looking forward to. But till now, the MetaCity Forum is partnering with 15 organizations to implement a sustainable metaverse ecosystem. There are well-known companies such as IBK Securities in South Korea, KB Capital in South Korea, Money Today, a media company in South Korea, KOSDQ listed company Aiitone, and BRI in Canada are included. More will join the forum soon.

The Chairman of BRI — Don Tapscott, who joined as a keynote guest to share his opinions on the Global ESG MetaCity Summit that we held last year, also showed his trust and expectations for our project. We will invite him to visit Korea this year and engage in marketing activities to revitalize the BOA token ecosystem. Please look forward to it.

[May]

Wow, Don Tapscott, an expert in the Blockchain field! By the way, do you have any more partners who will use your BizNet to provide Dapp services?

[Vicky Yip]

Oh, yes! BOSagora has been putting effort into utilizing blockchain networks and vitalizing token economy in functional business areas, especially for local businesses, and its effort has extended into signing a strategic partnership with CASH ZONE, an O2O(online-to-offline) ‘digital flyer’ advertisement platform that connects small businesses to affordable services on this Wednesday.

CASH ZONE Co., Ltd. was established in 2018 and is a tech company with several patents and trademarks based on its proprietary technology. The CASH ZONE provides a service that whenever Cash Zone’s member views an online flyer, Cash Zone pays cash to the member and the advertiser who posted the online flyer.

Key agreements

📌1. Vitalization of the token economy using the BOSagora network platform

📌2. Strengthen the CASH ZONE service

📌3. Exchange of infrastructure information and public-private cooperation networks to enhance business opportunities

📌4. Cooperation to revitalize the local economy through small business support

📌5. Other matters requiring close cooperation

Partnership with Cash Zone is a defining moment as it symbolizes blockchain implementation to the natural economy using BizNet. We are expecting this partnership as a stepping stone towards a new era where everyone can do their daily transactions using blockchain technology.

[May]

Impressive answers!

[Vicky Yip]

Thank you😊

[May]

🥳

[May]

It’s now time to answer the selected questions from our Twitter community.

[Vicky Yip]

Sure

Segment 2 — Twitter Questions

[May]

How can BizNet benefit your cryptocurrency? How will BizNet play its role in your Metaverse platform?

Twitter Username: @BornToShine_7

[Vicky Yip]

Thanks for the question.

BizNet is a network aiming to revitalize the token economy such as Dapp, NFT, Defi, and S2E(Service to Earn). It specializes in building a business ecosystem with smart contracts and EVM compatibility. In other words, it is a network that enhances the utilization of tokens by linking Dapps and services. The team keeps meeting with other enterprises to increase the use case.

Shortly, when various services, games, and Dapps are activated on BizNet, tokens for service use are issued, and each service token can be exchanged for a Biz-BOA token through the Swap function. Furthermore, this Biz-BOA token will be exchanged for the ERC-BOA token again using the Bridge function, making it possible to trade on the exchange.

We are working towards increasing the token’s value by promoting the activation of the Dapp ecosystem through BizNet and expanding the usability of the native token Biz-BOA. If the token’s usability increases, the number of people who want to use the token will naturally increase, leading to a rise in the token price.

Meanwhile, Discussions are ongoing to launch various services in MetaCity. In addition, since BizNet has been launched, methods for using service point tokens to revitalize metaCity are being considered in earnest. As explained above, point tokens can be converted to Biz-BOA through the Swap function developed by us, and vice versa; biz-boa can also be converted to specific point tokens. We believe this can boost the user pool when our partners provide their services. So it may increase the demand for point tokens/Biz-BOA tokens.

[May]

It’s going to be interesting to see BOA’s price when the dex is active at the end of this month. Please for clarification BOA-Biz tokens cant be created without a swap of BOA-erc20 right?

Twitter Username: @AbayomiNathani2

[Vicky Yip]

Thanks for the question.

Biz-BOA will be issued 450 million like the currently issued ERC20-BOA tokens but initially only distributed within BizNet for the actual use of service providers and users. Therefore, the Biz-BOA token is not available to buy or use now.

For reference, the Biz-BOA token is pegged 1:1 with the ERC20_BOA token, so if you want to use either side, the other side will be frozen. Therefore, the value of the two tokens is the same, and there is no change in the circulation volume.

[May]

Why did you decide to start a new chain, BizNet, while developing AgoraNet?

Twitter Username: @Lemokkkk93

[Vicky Yip]

Thanks for the question.

We will focus on expanding the BizNet economic ecosystem with more partners and services. Various services based on BizNet, a business-specific network, will be introduced sequentially. The first NFT has already been introduced, and activating the BizNet network with Dapp services in the future is our goal.

In the future, BOSagora will strive to revitalize the blockchain economic ecosystem by aiming for a global network that complies with ESG and SDG.

The BizNet website provides developers with detailed instructions on how to utilize BizNet, which will lead to a collaboration with enterprising and active partners who want to revitalize the blockchain economic ecosystem.

[May]

What is your top priority for 2022? Can you and your team members share a bit about the strategy that will be implemented in the near future? What makes the team feel confident to win in the long run?

Twitter Username: @Donthebadsha1

[Vicky Yip]

Thanks for the question.

In the future, BOSagora will strive to revitalize the blockchain economic ecosystem by aiming for a global network that complies with ESG and SDG.

[May]

I would like to know why the team decided to create a project within the NFT? How much potential do you see in the future for the NFT?

Twitter Username: @RiponLuck

[Vicky Yip]

Thanks for the question.

Unlike the typical NFT forms of gifs, simple collectibles, or transaction formats, FM_US NFT combines entertainment and various benefits to take one step closer to the real world and the real economy.

With the goal of ‘Make a Better World’ with Blockchain Technology, BOSagora will keep collaborating with various entities related to finance, education, and the environment. Furthermore, BOSagora aims to issue NFTs that will add meaning to our daily lives in our NFTs.

[May]

I had read about BOSAGORA releasing 1000 NFT limits on Crowdy. What is the purpose of BOSAGORA in releasing NFT in its ecosystem? Can you explain these NFT use cases?

Twitter Username: @Lavana2016

[Vicky Yip]

Thanks for the question.

We introduced NFT in cooperation with strategic partner FMtechnology, celebrating the remarkable achievements of US funds. FMtechnology Co., Ltd., established in 2019, is a Korean FinTech company with Stock Picking Engine applicable to all stock markets worldwide.

In 2021, DaVinci Wealth Management, a hedge fund firm established by FMtechnology in the United States, operated for about six months from December 1, 2021, till now (June 2022). The Firm achieved the highest cumulative return of 43% and recorded a return of over 60% compared to the NASDAQ index during the same period, proving the engine’s profitability and stability. The rewards associated with our NFTs are as follows.:

1_One month subscription coupon for FMschool

A financial investment education professional service. FMschool is a stock education specialized platform where experts in each field systematically explain stocks in a fun way. It has over 350 short-form videos (less than 3 minutes long)

2_Specific NFT Holder event

‘Blue NFTs’ will be issued in the order of participation in general. However, 10,000 KRW worth of BOA will be extra airdropped to the lucky Silver NFT holder who will receive this special NFT for every 50 units issued (issuance numbers 50, 100, 150, and so on). The FM_US NFT issuance date will be starting on August 1st. An additional 100,000KRW worth of BOA will be offered to The 81st’ Gold NFT’ holder to commemorate the day.

3_BOA Airdrop Based on FM DaVinci US Fund Index Growth Rate

Airdrop will be based on the average return of FM DaVinci US funds operation for one year from August 15, 2022, to August 14, 2023.

This NFT can be freely traded at BOSagora NFT Marketplace which is scheduled to launch this year. After the end of the fund management period, a full refund on the NFT is available for 6 months from August 16, 2023, to February 16, 2024.

[May]

Brilliant answers from a brilliant guest! 👏🏻👏🏻👏🏻

[Vicky Yip]

Thanks for those questions :D

[May]

The session is building nicely! We have covered so many facets of BOSagora, BizNet, and MetaCity.

Thank you for your answers!

To take us further, it’s now time for the live audience to ask questions.

Before the live segment, can you please share with us all the social links to your platforms?

[Vicky Yip]

🏛 https://linktr.ee/bosagora2019

[May]

Everyone, please explore these links

In this 3rd segment, I will open the group for some seconds for the live community to shoot you some pressing questions.

Please pick five original questions to answer.

Try to ignore generic, vague, and copy-paste questions 😊

AMA Rules for the community

https://t.me/DC_Court/22754

It’s time for the special keyword 😄

Who can guess it? 🥳

Dear community, in your questions, please include the two networks of the BOSagora project.

Hint: _ _ _ r _ Net and _ _ z Net

The group will be unmuted shortly.

— -Chat was then opened for the live community to send in their questions — -

Segment 3 — Live Questions

[May]

Chat is muted!

Thank you for your questions, everyone!

@bosagora_viki

Dear guest, as a measure to deter bots and reward hunters, AgoraNet and BizNet have been included in the original questions so you can tell them apart.

Please prioritize such questions 🥳

[Hana]

What are the differences between Biznet and AgoraNet, do Biznet and AgoraNet work integrated, or do they have separate working principles? Can you talk about the advantages Biznet and AgoraNet provide to each other and BOSAGORA in general?

BizNET

[Vicky Yip]

Thanks for your question.

[Advantages of BizNet]

1) Fully compatible with EVM

2) Dapp points/token<->Biz-BOA tokens can be exchanged through Swap

3) Biz-BOA<->ERC20-BOA token can be exchanged through Bridge

[theyasflower]

AgoraNet and BizNet

Are there any plans for your NFT to expand to other continents apart from Korea and Asia?

👋👋👋

[Vicky Yip]

Yes, of course. Not only in Korea and Asian countries. We are also keeping our eye on the global market.

We have made much progress, which also included our Marketplace for trading NFT. Hopefully, it will be launched in early 2023.

BOSagora will strive to revitalize the blockchain economic ecosystem by aiming for a global network that complies with ESG and SDG.

[Crypto Jiren]

Recently Bosagora has announced its strategic partnership with the advertising platform O2O CASH ZONE, can you tell us a bit more about how this partnership benefits BOSagora and what project areas they will push forward thanks to it?

AgoraNet and BizNet

[Vicky Yip]

Thanks for the question and interest.

The partnership will benefit our BizNet ecosystem.

The token ecosystem of services on BizNet allows for mutual exchange through Biz-BOA, a BizNet native token. New services deploying to BizNet can use existing ecosystems and market their services as well as receive support when it comes to securing their user base and proliferating token economy.

BOSagora has been putting effort into utilizing blockchain networks and vitalizing token economy in practical business areas, especially for local businesses, and its effort has extended into signing a strategic partnership with CASH ZONE, an O2O(online-to-offline) ‘digital flyer’ advertisement platform that connects small businesses to affordable services.

[Poker]

🌀How does Bosagora FM_US NFT differ from normal gifs in NFT format, simple collectibles? What is the purpose of issuing these NFTs?

BizNet and Agora networks

[Vicky Yip]

Thanks for your interest.

Combining entertainment and various benefits to take one step closer to the real world and the real economy is the goal of our FM_US NFT, a 100% refundable NFT.

It will be allowed to trade freely in our Marketplace. As we will launch our own NFT Marketplace within the first half of 2023.

Please stay tuned

Okay, one more left.

[May]

Yes, Ma’am 🥳

[Taiwo Bisayo]

Biznet AgoraNet

What is the June monthly report for Bosagora development? What events have taken place in your community in June and have you set up any new things in improving this project? Or are you held back by the market conditions?

🎉🎉🎉

[Vicky Yip]

Thanks for your question. It was the first one shown in my chat. 🤗

We are holding different events as a regular activity in our different language communities every month.

For June, we have our in-house AMA and June monthly event.

Then for June and JulyBOSAGORA official community is holding events such as ‘Creating Meme’, ‘Share about BOA’, and ‘Creating content’ to revitalize the community and attract new users. All of them are still ongoing 😎

Please see more details in our communities:

https://linktr.ee/bosagora2019

🎉We are also holding an L2E quiz event for a month to commemorate the launch of Biznet, a network aimed at revitalizing the token economy.

💡L2E Gleam event: bit.ly/3I9LQHs

💰Reward Pool: 11,000BOA

At these events, it can identify all holders who are interested in BOSAGORA with enormous love and passion. As I said above, we will continue to hold monthly events for each language to revive interest and passion, so please stay tuned.

https://t.me/decentralized_club/871272

Oh, I missed the most important thing. $BOA is accessible through the exchange market Bithumb, KuCoin, Gate.io, Bittrex, and Coin Bene at the present. We are trying to list more markets in the future.

https://t.me/decentralized_club/871276

[May]

Aaaand it’s a wrap! 🥳

[Vicky Yip]

https://t.me/decentralized_club/871277

[May]

Thank you for the trading details!

This was an exciting and enlightening session! We learned so much about BOSagora ✨

[Vicky Yip]

Thank you, May, so happy to have a fruitful AMA in Decentralized Club

[May]

Yes, it’s our pleasure as well! We’re glad we had this session!

Any closing remarks for our community?

[Vicky Yip]

🏛BOSAGORA focuses on building an open decentralized blockchain that ensures transparency of the consensus algorithm and clarity of contracts. BOSAGORA will play a vital role in making a better world with blockchain technology as a project enabler.

‘Making a better world’

Thank you :D

[May]

Awesome!

A standing ovation to you for being a superstar guest!

https://t.me/decentralized_club/871274

[May]

Our warm regards to the rest of the BOSagora team at the HQ working to make this project a success! 🥳

You are a super project! 🥳

We at Decentralized Club wish BOSagora all the very best!

Until next time, do have a great day!

[Vicky Yip]