🕖AMA Timing : 23th July 10 AM UTC | 5 PM (GMT +7)
🏚Venue For AMA: @EPID_Community
💰Reward Pool : 100$
➡️Part 1: Project Introduction.
Q1. Could you briefly introduce yourself as well as your project?
sure, I did that when we started. I can add that our project is drivven by the community. Idena is an open source project and the Idena community is its key driving force. Every community member should have an opportunity to contribute and get a reward. So everyone is invited to join!
Q2. What makes the IDENA project stand out more than the projects in the same direction at the moment?
Comparing to other projects in the proof of personhood field, the validation in Idena allows the participants to have unique cryptoidentity and stay anonymous at the same time. Cryptoidentity is your digitally verified avatar. It's semi-unique which means you can easily validate one account, but it's much harder to get two and impossible to get many accounts. It can not be bought and sold, its value grows with age, it can not be taken over. Anonymous and Sybil-resistant identity is a missing part for Web 3.0.
Another thing is that everyone can mine Idena and get equal income from mining, and you don't need expensive mining equipment for that^ you can mine even on an old laptop or PC. Mining Idena coins is accessible for everyone who owns an average laptop with an Internet connection. All Idena participants are empowered to maintain the network and earn equal mining rewards. These rewards can be considered as a form of universal basic income.
So you can join now, tomorrow we have the next validation ceremony, and if you pass the validation, you can start mining on your computer and earning income from tomorrow on!
Q3. What are the memorable milestones of IDENA in the research and development process?
Our next big steps are sharding, Idena Onchain Advertising Network, and fully-featured Idena smart contracts.
Validation sharding (sharding phase I) will increase the stability and throughput of the network and adapt it to the peak load that validation imposes. It will also build the basement for deploying transaction sharding (sharding phase II), which is planned as a stretched goal.
Onchain advertising allows creating an ecosystem with attention economics where the market value of the Idena coin is driven by the fundamental demand for its utility. Advertisers will have to purchase iDNA and burn the coins to compete for the attention in the network, reducing coin supply, creating natural demand for iDNA, and, consequently, supporting sustainable economics.
The basic smart contracts in Idena allowed employing the fundamental governance mechanisms in the network. To make the next step towards building a fully functional dApp ecosystem, we plan to add fully-featured smart contracts by the end of 2021.
We envision Idena smart contracts to be highly available and easily adaptable to different systems and development stacks.
➡️Part 2: Question From Twitter (5 best questions).
Why do you think we should hold $IDNA tokens? What are the advantages of holding $IDNA tokens? On which exchange is $IDNA already listed and planned to be listed soon?
Idena is traded on 6 exchanges, including Probit, Hotbit, and PancakeSwap. iDNA is heavily underestimated, so holding it can give you good potential for growing your investments. We do a lot of development now, and the network is growing, so i estimate iDNA to have high potential.
How do you intend to raise awareness about your initiative in regions where English is not widely spoken? Do you want to educate many various populations about your project, such as Vietnam, Indonesia, Korea, etc., so that they can easily comprehend and understand it?
We have strong local communities in 21 languages, the active members of the local communities continuously update the translations for our website, apps and documentation. The community resources and local chats can be found at https://docs.idena.io/docs/community/channels We reward our community members who support localization and spread the word about Idena in their language: https://www.idena.io/ru/contribute
So you are very welcome to join!
How secure is your platform? Have you audited smart contracts?
- Bug smart deals and no protection from hacking. Which is very important for your platform?
We have a bug bounty to prevent any vulnerabilities: https://medium.com/idena/idena-announces-a-bug-bounty-program-9170cfdcae47. So far no security breaches have been found.
How do you convince $IDNA holders that their investment is secure within your platform? And also your smart Contract has been already audit. Can you tell us more details about the audit? Can anyone access to the locked liquidity pool on pancakeswap?
For enhanced security the investors can hold their funds on their private hot or cold wallets. You can even hold your iDNA on Ledger cold wallet.
The liquidity pool on Pancakeswap is created by the Idena community, so everyone is responsible for their own funds. The core Idena team don't have access to the liquidity pool on Pancakeswap, it is decentralized and managed by smart contracts of PancakeSwap.
Many investors focus only on the token price in the short term rather than the real value of the project. Can IDENA share the motivation and benefits for investors in the long term?
The fundamental value of the Idena coin - iDNA - is supported by the coin utility. There are many options here:
- decentralized democratic governance
- attention economy
- smart contracts
- free and censorship-resistant content publication
- universal basic income
The Idena Network grows with time, we add new functions, and follow the roadmap. With more participants and more applications, partnerships and integrations the value of the coin will only grow.
➡️Part 3: Free asking (5 best questions)
Q1: Do you have any plans to attract non-crypto investors to your project Because it is the success of a project to get more investors who are still not in the crypto world. What are the plans to increase awareness around your in non-crypto space?
We have invitation system, and the invitor gets rewards when their invitees pass validation. It encourages the invitors to educate their invitees. At the same time, Idena is simple. That is why we have many cases when whole families take part in Idena, including grandparents and children🙂
Can you explain to us how to purchase your token? Will you have private sale and public sale event?
iDNA is listed on many exchanges, you can trade it there!
What are your marketing strategies and how will you have a global expansion and adoption fo your project where English is not spoken?What are your next upcoming priorities? What is in your roadmap ?
The best marketing instrument that works for us is the word of mouth: with an invitation system in place, people are encouraged to invite their friends, because they get rewards for invitations. This is how Idena is growing organically powered by the community around the project.
Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is it like this? If not can u tell us, What makes it different from other projects?
We already have a working network, and we have active community that helps to develop the Idena ecosystem. We also aim for community governance, when the project funds are managed by the community with DAO mechanics.
Your project plans to operate in a public and transparent way, which is good, but how involved will the community be within the project to make the best decisions and thus strengthen the ecosystem…...?
In the long run, we want the Idena ecosystem to become fully sustainable and self-governed, with proactive and responsible community initiating, funding, and implementing impactful projects, building on top of the protocol, and developing the protocol itself.
These are the milestones we need to pass to reach this state, as we see it:
- Idena Kickstarter: a crowdfunding platform, where the projects are driven by oracles and funded using basic smart contracts;
- Full-fledged smart contracts for building complex dApps in the Idena ecosystem;
- Serverless messenger and decentralized publishing platform to grant freedom of speech and uncensored communication essential for effective governance;
- Zero wallet governance: Idena improvement proposal (IDIP) platform funded from the Zero wallet and governed by the Idena community.
to sum it up, we want our community not only to take part in the governance of the project. We want the community to become mature enough to establish a DAO to manage the IDENA development and growth, which also includes managing the funds of the project, like zero wallet and foundation wallet.