Here’s our 73th AMA recap!

Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with PhoenixDAO on May 13, 2021. This guest star,

  • Monte Thomas — Partnership Director of PhoenixDAO

Introduction

Mayor,
I’m Monte Thomas prefer to be called Mayor (😁). I’m the Partnership Director of PhoenixDAO. So I handle Partnership, Legals, and Growth related conversation for the project

Starting out, can you please provide us with a simple description of PhoenixDao ?

Mayor,
I like the word “simple”. PhoenixDAO is a full stack governance platform that boasts of tech, human, protocols and different product resources. It aims to be a complete umbrella that houses groundbreaking and improved versions of products we see everyday in a decentralized manner. The plan is to be among the best DAO’s out there through incubating and delivering widely adopted crypto products that can serve both the traditional and non-traditional markets.

PhoenixDAO aims to build an ecosystem of tomorrow. Combining leading edge innovation along with core business acumen and a breadth of blockchain experience. PhoenixDAO is moving towards being able to offer the benefits of Blockchain and Cryptocurrencies for everyone, everywhere. I won’t mention names, but the events in the last 24–48 hours in the crypto space and how it impacted the market conditions proves why DAO’s will be the next big thing. It’s a movement where no one person is more important than everyone collectively.

As you may know, at the end of the day, when the hype is gone, everything in the emerging blockchain and crypto space is going to rise and fall on DAO’s, which is why we’re already positioning for now and the future. It should meet us ready. Once it gains traction, every season will be the DAO season, because it’s a super set to subsets like DeFi, NFT’s, ICO, IEO, e.t.c

Good to mention that we’re already beginning to achieve some of our goals through the products that’ve been released. More to come.
NB: Everything I’ve been saying will be powered by the $PHNX token.

Official Website: https://phoenixdao.io
White Paper: https://github.com/PhoenixDAO/PhoenixDAO-docs/find/master?q=

Could you please give a brief intro of PhoenixDao salient products? how your DAO is structured and what impact it has on the ecosystem?

Mayor,
There’s so much hype already about the Events dApp and how it’ll disrupt the billion $$ ticketing industry, the Staking dApp as an alternative incentive model, and the DAO platform with how they’re built/structured. Spoiler alert, we haven’t even started with products yet. Wait and see more to come. For education sake in this AMA, let me touch on a few of them;

DAO — Custom built to bring decentralized governance along with open submission for grants to incubate innovation and accelerate growth.

dApp Store — One stop shop for all things built within the ecosystem (you can call it the Google play store on the Blockchain).

Events dApp: Soon to be arena for all ticketing related matters to service any industry including sports, music, education, and conferences. These promises endless opportunities. For this, we just got off a call few hours ago and seem we have a potential juicy sports ticketing partnership on our laps..watch out

Competition is allowed in any space, but there’s usually a cutting edge to distinguish one from the other. Talking about the structure of our DAO, it’s a one man one vote system we’ve developed. So basically taking away whale manipulation in the decision making process. Please read more on the flow in the link here https://medium.com/phoenixdao/phoenix-dao-v1-functional-overview-update-ae77ed21f51

Can you tell us about some of PhoenixDao partnerships? how can that partnership help develop PhoenixDao ecosystem?

Mayor,
We usually have NDA’s that prevents us from saying everything we have going until ripe for announcement. Some of the already announced partnerships includes;

Numio
Numio (www.numio.one) has unlocked a lot of potential with what they are building for our ecosystem. Their connections with Matter Labs has enabled for $PHNX to be added into zkSync, which allows for the asset to be used on their L2 zkRollup. As a part of that, their team will be doing $PHNX Cashback rewards and enabling discounts at PoS for $PHNX. With Numio being one of the leaders for L2 tech & adoption, it puts PhoenixDAO in a great position to excel with what our team is building.

— Users of Numio Pay have an asset option to store and send Peer to Peer (P2P) transactions in PHNX.
— Users that make Peer to Peer (P2P) payments or in-store Point Of Sale (PoS) transactions using PHNX will pay reduced fees.
— Users can store their PHNX in Numio Vault.
— Users making trades on Vault will pay reduced fees when using PHNX.
— Users will get VaultPRO subscription discounts for paying in PHNX.
— PHNX staking will be available on the dApp.

Travala
We are finding working with the Travala team fantastic so far, it was clear from the get-go that both parties could see huge synergies for now and in the future. Initially we will be promoting Travala.com on the Event Marketplace but have also begun talking with them in relation to deeper integrations so stay tuned.
https://phnxdao.medium.com/phoenixdao-working-with-industry-leaders-travala-com-b27b46de6e80

Polygon (Matic)
Whilst we are not official partners of Polygon (previously Matic) we do have a fantastic working relationship with them which is seeing us launch the Event Marketplace with their support. We also have conversations with their team on how both projects can mutually benefit working together moving forward. A recent piece of PR that went out here:
https://ambcrypto.com/phoenixdao-partners-with-polygon-to-launch-events-marketplace.

NB: Every Youtuber, Influencer, Educator, Music Artist, Sports person, Event managers inclusive are potential partners of PhoenixDAO (Events/NFT ticketing platform). We just need to fish them out and set them on the path to start running with our vision.

If you have some potential partnership opportunities, please be free to share with me after the AMA

Can you explain about tokenomics and functionality $PHNX? What incentives do we get for holding $PHNX and participating in DAO governance?

Mayor,
Holding $PHNX comes with a number of benefits. Incentivized DAO participation; you’ll have a say in key decisions on accepting new innovation into the ecosystem and improving existing products.

You also need the $PHNX token to interact with the events dApp, the staking dApp, the dApp store, and many more dApps to come as we continue to build. Something worth mentioning is the fact that we have a linked ecosystem (not fragmented), which automatically puts the PHNX token in a position to keep expanding in use cases as the community grows.

Not Financial Advice, but obviously we see the $PHNX value appreciating with increased usage of our products as every piece begins to come together.

Check how to earn 20% APR staking your $PHNX in this article https://medium.com/phoenixdao/a-complete-guide-for-phnx-spot-staking-dapp-we-are-live-b3b9bb8d466c

Could you tell us about PhoenixDao roadmap for now? How far has this project been developed? And what are target PhoenixDao for in this year / next year?

Mayor,
Asking about our roadmap is a good question. We’ll be one year this month and I must agree it’s been a fun filled ride so far.

Here’s a summary of our short term goal/roadmap
Roadmap

Q1:
▪️Staking dApp v1 — Completed
▪️Events Marketplace — Completed
▪️PhoenixDAO Rebrand — In Progress

Q2:
▪️DAO v1 — Beta Testing and Soft Launch
▪️Staking dApp v2 — Beta Testing and Soft Launch
▪️Layer Two Scaling Solution and Enhancement for Products and Protocols — Ongoing
▪️Binance Smart Chain (BSC) Enhancement and Connecting to BSC Dex’s — Ongoing
▪️On-boarding and Unveiling more partners
▪️Top tier Exchange Listing

Q3:
▪️dApp Store Development — Ongoing

Q4:
▪️NFT MarketPlace — Beta Testing and Soft Launch

Explainer for Protocols and Products on the Roadmap

1. Phoenix Identity — Powered by ERC-1484, this protocol creates digital identities and allows for dApps, apps, and APIs to be developed on top with an interoperable identity layer.
2. Phoenix Authentication — Blockchain based two-factor authentication for consumers and business use cases.
3. Phoenix Payments — Smart contracts to facilitate payments without a 3rd party escrow service.
4. Phoenix Tokenization — Compliant tokenization of any physical or digital asset on-chain using Phoenix Identity and Authentication protocols.
5. Phoenix DAO — Self sustaining governance over the ecosystem.

Setting new standards for DAOs

1. All spending will be voted on by the DAO and every PHNX spent posted on our running budget page.
2. The Phoenix DAO does not rely on donations; it is self sustaining through the Phoenix dApp Store.
3. By participating in governance, you can earn PHNX.
4. Open framework for participation, and enables anyone around the globe to push the ecosystem forward.
5. By staking your PHNX into the contracts, you are able to earn rewards.

Phoenix dApp Store

1. Decentralized hub for digital identity based dApps.
2. A developer can build an application and submit it to the store from anywhere in the world.
3. These dApp proposals will be accepted and voted on by the Phoenix DAO before being built and added to the store.
4. Growing set of developer tools and resources for devs to have all the tools they need to build their first, second or third dApp.

In the same vein, over the next 2–3 years we’re aiming to have handed full control over to the community. PhoenixDAO’s flagship products will have launched and will see user growth and revenue being generated for the project along with a raft of industry partners and products built on ecosystems which have been incubated by PHNX DAO grants. Not only that will we have hopefully successfully tackled many of the challenges around barriers to entry which this space is faced with.

It’s a mammoth task and we know that however, with products that users love, incentives that attract old and new users and an ever-growing interest we’re seeing to be involved, we’re on track.

TWITTER QUESTIONS

From : OliverSyykesPhoenixDao created an Events dApp can you explain how this dApp works , what are it’s uniques features, what do you think makes it a more better option than othe events platforms, what can users do with your event dApp, and how will it be beneficial to users who use it?

Mayor,
The events dApp is a transparent event ticketing and management solution under PhoenixDAO’s suite of products, allowing users to secure tickets with PHNX tokens — the native currency on the PhoenixDAO platform. PhoenixDAO have recently implemented polygon sidechain scaling which lowers the gas fees incurred during the event creation and ticket booking process.

When a user visits the site, they are greeted with a welcome screen that shows the upcoming events as well as popular event topics like Bar Crawls, Charity events & causes, DJ’s, Hackathons, Parties, and Sports & Fitness.

See an explainer video that was made in the past (There’s an improved version now) https://www.youtube.com/watch?v=Pj63VX1Jdxo

NB: We got exciting news about the dApp before end of business day yesterday, but we’ll be making proper announcement about it on Monday since most people and parts of the world are celebrating the Muslim holiday. Read article: https://cryptodaily.co.uk/2021/05/PhoenixDAO-Event-Marketplace-Plans-To-Triumph-Over-Traditional-Ticketing-Platforms

From : Vin8517PhoenixDAO uses smart contracts to facilitate payments without a third party escrow service. Will you have your own PoS to process FIAT transactions? Can users convert crypto to FIAT & withdraw using your service?

Mayor,
This is a more partner centric area for now. We don’t yet build these types of products ourselves but usually encourage our partners to build them leveraging our protocols i.e the payment, authentication, and Identity management protocols. Check out a similar product built by Numio, one of our Partners who also first movers in the layer 2 space. https://play.google.com/store/apps/details?id=com.numio.pay

A lot of new features are being added based on my last communication with the team this week. The ability to trade on layer 2 in-app with very small fees, stake (PHNX), do low fee P2P transfers, and much more. They also have a POS service conversation ongoing which would see them service a wide range of clients from different industries/niches.

From : RuthlessKXCan you tell us how PhoenixDAO 2-factor authentication works? Is this similar to google authenicator? Are all of them well adopted so that users can use them easily?

Mayor,
This is another area that we work with a partner like Numio to enable using our protocols (particularly the identity management and authentication protocol). It’s a permissionless authenticator flow process when compared to Google 2FA with some vulnerabilities. Usability has been a key factor we collaborate together to make adoption seamless. Here’s an article that links Numio providing 2FA/KYC service to BTI partners which includes the biggest exchanges in the space like Binance
https://medium.com/numio/numio-integration-partnership-with-bti-verified-9d58d8cf20a5

From : QuixoteLuxYour DAO, one of the standards is that users by participating in governance can get PHNX. If, I not mistaken this is a unique feature of the Phoenix DAO, can you tell us more? Do we just need to vote on governance decisions to win over PHNX? Are there any other requirements?

Mayor,
You’re correct. It’s a spam and manipulation prevention feature. We call it incentivized voting. This is mainly to encourage DAO activities participation. The more the better, where the tendency of making the right decision is guaranteed with more participation. Imagine if someone is making a proposal where you need to stake 10K PHNX to participate. It’ll help eliminate Childs play, and people trying to game the system. So in return the participants are rewarded for committing by staking their PHNX in making that decision. It’s a win win for everyone.

More about the DAO here https://medium.com/phoenixdao/phoenixdao-a-complete-guide-for-the-dao-c6e5c3f9336e

From : btc_will_be_skeSecurity and reliability are the factors that are most concerned by users in the blockchain system. Where is PhoenixDAO’s transparency reflected?

Mayor,
If you’ve been with us, you’ll know we run an open transparent system. Talking about code reliability and security we work with some of the best developers (https://xord.com/) and code auditors (https://hacken.io/) in the Blockchain space. Meaning safety of our users is a priority

TELEGRAM QUESTIONS

From : @davidbeckham00What plans do you have to increase and maintain the value of PhoenixDAO tokens in the long term? What are the benefits of holding?

Mayor,
Plan is to get working relationship with all big shots in different niche to use the products especially for now the Events dApp. We want Gamers, Premier League, Music Idol Organizers and different influencers to use the product. Lofty dreams but we’re close to achieving them all. Once usage token valuation and the rest will be history

From : @gahuyahooHow do you overcome the threat of centralization in PhoenixDAO? And what is the main difference between PhoenixDAO and other platforms?

Mayor,
No whale token holder. The system is designed to curtail the activities of whale holders. It’s also an integrated system.

From : @sublinme102I find that most projects are owned by men. How do you feel? Are there women who work or manage PhoenixDAO and if so, what are their jobs?

Mayor,
Funny but true. We have women we work with. Our marketing team are mostly women.

From : @zome1999DeFi is very hot and currently using the crypto space, do you have any ideas to develop DeFi in your PhoenixDAO platform?

Mayor,
Yes. DeFi is knitted into the DAO through our staking dApp

From : @ujollaYour project has great features. There must be an experienced team behind. Can you tell some about your team and their experiences in the market?

Mayor,
Yes. That’s true

Blockchain Director — Also COO of Xord.One a creative blockchain business
Creative Director — Owner of Crevatal.com creative agency
Communications Director — 15 years of being a business owner or in leading roles.
Partnership Director — 6+ years of industry experience focused on sales, marketing and client relations.

From : @Jahid235In Website It Mentioned Community Driven Coin Does It Actually Accept The Community Feedbacks And Implement It Or Not ?

Mayor,
Obviously we do. Please join our community to have a feel of ow we run

From : @BTSmissDo you have an allocation of funds proportionally distributed for Development, Marketing and Community Growth?

Mayor,
Yes we do and always assessing it on the go

Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about PhoenixDAO.

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