Here’s our 39th AMA recap!
Thank you to the Infinity Chain Club for participating in Ask Me Anything (AMA) with SAVIX on January 25, 2021. This guest star,
- Anatol — CO-Founder
we are well, here is a short introduction about myself:
My name is Anatol. I have been in crypto since 2012 including Mt. Gox unfortunately. I have a Master in Mathematics and Physics. Since 2001 i am working in my own software company. Within Savix i am a solidity coder, mainly responsible for the development of the staking algorithm.
Q1. Can you provide a simple description Savix? How did you get idea build Savix?
Savix features gas-free staking embedded into the ERC-20 protocol. Very easy to use, holders receive staking rewards directly to their wallet without the need of any interaction. Because of the nature of embedded staking, additional income streams are possible. E.g. a user can provide liquidity on Uniswap and receives shares of the trading fees on-top of the built in staking rewards of the token itself. With our upcoming trinary pool, 3 distinct income streams are possible just by using our token.
Our idea was to make a DeFi equivalent of a traditional savings account. We anticipated high fees in the future and aimed for a gas-free solution.
With Savix a virtual currency is now available for the first time, which makes it possible to profit from staking rewards while keeping the token unlocked and liquid, freely available for use in any other DeFi product at the same time.
Q2. What are the advantages of Savix? How is Savix better than other platforms? What makes it unique compared to competitors?
🔹 Gas-free staking rewards directly to your wallet
🔹 Easy to use
🔹 Tokens stay liquid and can be used with other DeFi projects (e.g. uniswap)
🔹 Predictable staking algorithm / rewards
🔹 85% APY first year
🔹 Scarce supply of 100,000 tokens
🔹Great growth potential due to broad target group: Ordinary DeFi users including beginners, not technically experienced only
The most unique feature is the embedded predictable staking algorithm. this has never be done this way before. Our gas-free distribution makes it a very attractive staking solution. There is no need to stake/unstake the coin and pay high fees.
Q3. Could you please tell us more about the Savix Features?
Besides the points from question 2…
🔹 Not just promises: Savix is deployed and staking is just one activation-transaction away from being launched.
🔹 Single Contract Implementation (less attack surface = better security)
🔹 Rigorous internal audit, we even wrote a separate simulation for windows to verify the algorithm.
🔹 Transparent: Open source code on Github and verified source code for our deployed contract on etherscan.
🔹 Multi-Beneficiary, enabling multiple simultaneous profit opportunities.
🔹 Convenient, 100% passive with no need for user decisions or interactions.
🔹 Flexible, being compatible with any Ethereum based DeFi project.
🔹 Fair, adjusting balances “non-dilutively”, not preferring big holdings.
🔹 Transparent, open-source, unambiguous and supply is not manipulable.
🔹 Stable, not creating selling incentives after locking periods.
Q4. About the SVX token, can you explain about tokenomics and the real use of the SVX token in the Savix ecosystem? And does Savix have a presale for SVX tokens?
🔹 Total Supply: 100.000
🔹 Presale Allocation: 70.000
🔹 Uniswap Allocation: 10.000
🔹 Presale Rate: 1ETH = 60S SVX (20% Discount)
🔹 Uniswap Rate: 1ETH = 48 SVX
No caps, our token is fully developed, deployed and staking will launch immediately after our presale.
The full advantage of Savix will be shown by our upcoming LP Staking Pool “Trinary”.
With “Trinary” you can stake Savix LP Tokens and earn 3 passive income streams. Trinary will only serve as an example. The possibilities to take advantage of embedded staking are endless.
⭐️ Our presale just started a few hours ago: https://savix.org/presale/dapp
Q5. Finally, can you tell about Savix roadmap for the present and the future? How far has Savix been developed?
Savix itself is fully developed and deployed:
🔹 Partnerships with DeFi projects and exchanges in Q1 2021
🔹 Savix Trinary at the end of G1 / beginning of Q2
Q1. I seeing the Savix website, explained that Savix has a DApp feature called “Trinary”. What is the difference between Trinary and other DApp? How can Trinary help traders staking, trade uniswap and save SVX tokens?
One of the main difference to most DApps: Trinary will pay out rewards directly in ETH.
Here is a small infographic which explains the basics.
Q2. I want to ask about Savix presale. If the Savix hardcap target cannot be achieved, it’s possible that you will burn SVX or lock SVX to avoid a crash when is listed in the market? If the funds raised from presale where will they be allocated? Do you have audit funds?
Yes, unsold tokens will be locked for 6 month. You can verify this if you look up our presale smart contract. Source code is verified on etherscan:
(this time the right contract)
After this period we will most likely create another staking pool and let the coins flow back to the community. A burn is also possible, depending on the market situation.
🔹 18% Uniswap Liquidity
🔹 7% Ecosystem Fund
🔹 40% Further Development
🔹 20% Marketing
🔹 15% Reserve
Q3. Now investors not only find for profit but also looking for the safety and trust of the platform. So how does Savix give investors confidence, security and short / long term returns? Has it been audited for Smartcontact?
Savix`s trust building concept:
Absolute transparency and liability of contract code due to single contract deployment (no unforeseen changes whatsoever can be made to the staking parameters).
Absolute transparency and liability of staking rewards due to non-dilutive staking rewards defined by an immutable supply map (future interest rates can be exactly predicted)
Absolute accuracy and transparency of total circulation supply. The circulating token supply is always identical to the total supply of tokens, there are no tokens held back in any way. The only exception are token remaining unsold during the presale (6 month locking time)
Rigorous internal audit, you can find details here:
Moreover the following characteristics reduce risks for investors:
🔹 Savix is deployed, Investors do not need to wait for the team to deliver
🔹 Open source smart contract published on GitHub
🔹 Low Smart-Contract Risk (Single Contract Implementation)
🔹 Predictable Interest (Defined by Immutable Supply Map)
🔹 Locked Uniswap Liquidity Pool (6 Month)
🔹 80% Token Supply Distributed to the Public
🔹 No Private Sale
Q4. What staking model does Savix have to make it easier for newbie investors to understand than many other platforms? How does Savix make it look user-friendly to every user without needing to be an expert?
Savix works with any ethereum wallet. The user has to do absolutely nothing except holding it in the wallet. Staking rewards will be added to the wallet balance several times a day.
You basically just open metamask and check you balance as often as you want to !
Does it get any easier ? ;)
Q5. What are Savix future goals? Do you plan to listed SVX on an exchange like Uniswap or others? Are you planning to partner with other projects? Do you want to expand SVX holders to developing countries such as the South Asia to promote SVX globally?
Our main goal is a sustainable, easy to use, gas-free staking system and a stable token.
The next plan is to heavily promote our project.
We will list on uniswap shortly after our presale (24–72 hours).
Direct intergration of DEX into the Savix dapp will be one of the first developments.
We want to expand SVX to all parts of the planet. Check our aggressive AMA lineup on twitter.
Partnerships are the next high priority target we will focus on. We will announce the first few in the upcoming days.
Is this Protocol Embedded Staking system that integrates SAVIX a mechanism already applied by other protocols previously or has it been developed by you?
our code is 100% unique. the mathematical has been developed and implemented by us, as well as the general principle of protocol embedded staking.
What are the difference between: uniswap rewards, staking rewards and trinary rewards. Why do savix have 3 rewards? Which one should users focus on?
you do not need to focus on a single one, you get all 3 at the same time !
Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project?
We already have a savix community in vietnam: https://t.me/savixvietnam. and we are entering a partnership with pantera group, the largest investor group in korea. But we will not stop there, We are going to promote savix all over the globe.
One of the attribute of Savix is that scarce, fair, Trustworthy and transparent. However, I discovered that the team is anonymous. Can we trust an anonymous team to be operate Savix in an transparent manner? Also, from your FAQ, you answered the question of audit by assuring that the Savix contract has passed an “internal audit” and you can guarantee investors safety from any form of contract misbehaviour. Don’t you think it will be more transparent to employ an external audit to ascertain the risk level of your contract in order to be fair, transparent and boost investors confidence and trust in your project?
First of all, staying anonymous is nothing anybody of our team enjoys. We all stand behind our product and it is would be much easier and more joyfull, too, to be able to communicate with an open face.
For now our team stays anonymous, because we cannot sufficiently assess the legal situation concerning token sales at the moment. Rules about token sales differ for different countries and are changing steadily.
Recently British authorities have forbidden any business related to cryptocurrencies, for example. And even though we sought legal advice and defined our sales terms accordingly we cannot be sure to have met all requirements for all participants and that everybody is correctly respecting the local laws he or she has to follow.
Savix is about bringing to life the idea of protocol embedded staking. And we are very passionate about this. But we cannot afford risking serious legal problems due to disputes with regulatory authorities and the current situation does not appear to be sufficiently predictable to us.
Currently especially the assessment whether a token is considered to be a so-called security or not can make a huge difference for the issuer of a token with significant personal consequences,
This is not a situation we are happy with. And we try to compensate for our anonymity by putting a special focus on transparency and trust building.
As soon as we receive the green light from our legal advisers we will decide about revealing our identities to the public again.
we plan an external audit after the presale.
Savix token, $SVX, is a currency token and doesn’t provide utility benefits such as ability to be used for governance by holders and investors. Why did you take this approach? Does this mean the project Anon team alone will be the one to unilaterally decide on project features and direction on behalf of the community? Wouldn’t this negate the decentralized nature of Defi if community members don’t have a influence (even if it’s little) on how project should be headed? How do your project integrate community and what role do they play in the Savix ecosystem?
We do not plan any governance to avoid that Savix will be classified a security token. At least in the USA the feature of governance alone most likely leads to the SEC classifying a token as security. And this has many consequences a small team like our simply could neither handle nor financially afford.
We hope that this situation will change since we are not comfortable with making such decisions due to legal reasons instead of deciding by what we consider to be best operationally and ethically.
Nevertheless our community is welcome to propose features for future developments which we will certainly take very seriously into account. We are very well aware that our community is the single most important value of the savix project.
our contract is fully decentralized without any external influence like oracles. Many “DeFi” protocols on the market are not truly decentralized. Using an oracle for example introduces a big risk of possible manipulation or failure. Savix doesnt face such risk.
- Telegram : https://t.me/savix_org
- Twitter : https://twitter.com/savix_org
- Website : https://savix.org/
- Discord : https://discord.gg/22bxBnP4GD
- Github : https://github.com/SavixOrg
Thank you for trusting Infinity Chain Club as the organizer of the event today, hopefully everyone can understand about SAVIX.
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