BlockTalks x OBEE NETWORK AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with OBEE Network, on 9th August 1 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Sing Hwang, CO-Founder of OBEE Network. So here we are up with AMA transcript, for those who missed the live session, this blog post will be saver & feeder of knowledge for them.
Introduction Questions Asked By BlockTalks
Q1. Could you please introduce OBEE Network to our community in layman’s term?
Ans — Obee Network is a social platform with the theme of blockchain + social incentives. In terms of product strategy, Obee Network will be the first social product for ordinary users to enter blockchain social networking.
Our team is determined to let users watch global user creations, forums, hot posts, applications and movies on Obee Network. Let social without boundaries, you can share wonderful moments with other users anytime, anywhere.
Now the design of our products is quite good. Friends can find topics of interest to them by registering for Uniswap. Of course, at the same time, you can also get OBEE token, which is a proof of contribution. If you use our products more , Then you will get more OBEE.
Well, there are too many benefits of the product, and more product highlights. Users can register on our Obee Network website or download the app to experience it!
Obee Network web link: https://www.obee.vip/
Obee Network android APP: https://obee.top/package/ObeeNetwork-en.apk
This is some screenshots of the product, the effect should be very good design.
Q2. What are the advantages of OBEE Network to other alternatives in the Blockchain field?
Ans — It is true that competition in the social field has been fierce. The social media field has always been monopolized by the giants. It is also difficult to find a place around the giants, unless it is for the vertical field and there may be some appropriate development. But in an industry monopolized by giants, giants cannot apply a new technology to all people.
Obee Network’s product ecology is still very complete, and there are many similar projects in the blockchain + social industry. If the product is particularly complete, including the client, all products on the mobile terminal are still very few, but these Obee Networks have done it, and the client website that we have announced to the outside world is still quite good.
Anyone who has used it can raise a hand, and the functional modules inside are still very rich. Many friends should have experienced it.
In order to maintain sufficient competitiveness, we set the OBEE mainnet currency as the main incentive currency in the Obee Network social platform, and users will get a certain amount of OBEE for their actions on the platform. These OBEEs can be circulated through transactions, so that all users who can participate in the platform can also get some profits. At the same time, we also strongly welcome some community volunteers to participate in the construction of the project to bring vitality to the project. At the same time, our products can also invite friends around to register, and the main network pledges OBEE to promote the value circulation of OBEE, thereby encouraging the construction and development of the entire Obee Network ecosystem.
Q3. What are the major milestones OBEE Network achieved so far & what are in future pipeline?
Ans — From the establishment of our project to the present, the team has worked very hard, and we have achieved good development in terms of technical products and community operations.
From a technical point of view, now we have created a complete ecosystem, we have web-side applications, android app has been launched, and now the product has been opened for erc20 OBEE mining, the more you use our products, the more you will get Many OBEE, our product design is perfect.
From the perspective of the community, we currently have huge communities both at home and abroad. We have 5,000 users in domestic communities, and about 1,000 people in foreign users. Our social product Obee Network is now also used by many users to participate in the mining of the platform.
In the future, we will increase publicity in overseas markets and expand the use of Obee Network. We hope that Obee Network will also be widely used outside the blockchain industry. At present, this event we are holding is just the beginning. We will do more work later to inject greater momentum into Obee Network.
Questions Asked on Twitter For OBEE Network!
Q1. Why did Obee Network choose Uniswap as the first decentralized exchange instead of a centralized exchange?
Ans — The reason why Obee Network chose to launch Uniswap is because Uniswap is still very popular at present, it is equivalent to the defi logo, and it is also one of the most popular decentralized exchanges recently.
Uniswap is a token interaction protocol based on Ethereum, which is decentralized, not only different from traditional exchanges, but also different from ordinary decentralized exchanges. Uniswap is a set of contracts deployed on Ethereum, and all transactions are performed on the chain.
On Uniswap, we do not need a dedicated market-making team to disrupt the market. Everyone has the opportunity to inject capital and act as the market-making team.
Of course, users can add trading pairs by themselves, or calculate market makers, which will earn a good fee and do not require users to take too much risk.
Using Uniswap’s transaction method is faster than matching transactions, the market is less controllable, and it can save matching time.
For example, the transaction between OBEE and AMPL can be completed in one step on Uniswap. In the neutral exchange, there is no direct trading pair between OBEE and AMPL. Two transactions must be carried out before OBEE can be exchanged for AMPL. Obviously Uniswap is more convenient.
Q2. OBEE launched on Uniswap on August 02, 2020 so in the future, does Obee Network plan to list on top exchanges like Binance, Okex or MXC exchange?
Ans — Obee Network has done a lot of publicity in the early stage. At present, our products and communities are also very complete. We have good products and a huge community. We will also launch more centralized exchanges when appropriate.
Our products have recently been connected to functions such as wallets. Users can directly use our social networking sites to mine. I believe that this is good. At present, the number of users on our social networking sites is breaking through every day. There are also project parties, media, and exchanges. Friends of who realized the benefits of the columns on our products, come to our Obee Network to open their own columns.
With the development model of Obee Network, the launch of a good exchange will certainly become an inevitable result.
Q3. Despite the growing popularity of Uniswap, it has a major drawbacks such as less than 10% annual ROI for Liquidity Makers and most project lack Liquidity Makers. As a liquidity pool provider, How does OBEE plan to solve these drawbacks and also reward other liquidity providers?
Ans — This is a tutorial about the use of uniswap, you can take a look at our tutorial
The fund pool is equivalent to making market funds. You can not only get three-thousandths of Uniswap’s transaction procedure points for making a market on Uniswap, of course, we will also provide other benefits, and you will get more OBEE.
Specific reward rules:
- Transaction fee reward
Handling fee reward = daily transaction volume * 0.003 * the ratio of your fund pool to the total fund pool.
For example: today’s transaction volume is 90 million US dollars, then the handling fee is 270,000 US dollars, and the ratio of your fund pool is 0.3, then the handling fee you earn in a day is 81,000 US dollars, which is a very large income.
- OBEE rewards
Reward rules: every day you can get five-thousandths of the reward of OBEE injected
The number of daily income OBEE = the number of OBEE injected into the fund pool * 0.005,
Earnings are only available after a full day, and the earnings are settled every 48 hours
Ps: Need to inject OBEE with a minimum value of 0.8 ETH
For example: if you inject 100,000 OBEE into the fund pool, you will get 500 OBEE a day.
You will get 15,000 in one month and 180,000 OBEE in one year. This reward is particularly generous.
Q4. ObeeNetwork said will give big rewards to users who inject into the fund pool and provide liquidity. What function does the capital pool perform? Also, is there any tutorial on how I can inject funds into the pool so that I can benefit from this amazing opportunity?
Ans — This problem is also a problem that I have recently studied Uniswap. It is true that the current Uniswap liquidity provider’s income is not very high. The daily income is only three-thousandths of the transaction volume. But this problem is also a problem we need to solve, so we The project provides additional incentives for liquidity providers. The daily rate of return of our rewards is 2%, and the annual rate of return will reach 180%. This return is still quite optimistic and stable. It should be a better return than money in the bank.
Q5. What are the special features or behaviors of the ObeeNetwork social platform?
How to get OBEE rewards, what kind of mechanism?
Ans — Recently, there is a good news that can be announced in advance to everyone. The deposit and withdrawal functions on Obee Network have been fully opened. Users can recharge OBEE to the Obee Network social networking site to obtain, or withdraw the OBEE obtained on the social networking site.
The Obee Network platform adopts a method of proof of contribution. On the Obee Network platform, users can get OBEE tokens by posting articles, blogs, comments, and likes. Our design of the upper logic of Obee Network adopts the method of proof of contribution. , As long as you use our social networking sites more, in principle, you will get more OBEE.
This is a sorting out of posts, creating blogs, likes, comments and other related activities. Currently, the number of OBEE obtained at a time:
Earn 5 points from comments
Create a post to earn 15 points
Reflect the post to earn 5 points
Create a blog and earn 15 points
Like to get 2 points
In Obee Network through the platform’s contribution activities, users’ OBEEs are also supported for cash withdrawals and transactions. At present, ordinary users can get up to 200 OBEE a day, and member users can get up to 500 OBEE a day.
Of course, members can also be purchased through OBEE on the Obee Network. Currently star members are 8000 OBEE, advanced members are 20000 OBEE, and ultimate members are 40,000 OBEE. SVIP members currently need to pledge 200000 OBEE and cannot be obtained directly through purchase.
Buying a membership will also enable you to get more OBEE every month, and at the same time will open more other privileges for you. Buying a membership is also a good choice at the moment, so you will get OBEE faster.
Questions Asked by our BlockTalks Community Members during live Session for OBEE Network team!
Q1. Recently, there has a been a breach of Smart contracts on Uniswap, making it vulnerable for hacks. How does OBEE project ensures security of smart contracts?
Do you have a bug bounty program to check for vulnerabilities?
Ans — Regarding the security issue on Uniswap, I feel very good. After all, it is safe to go to the neutralized interior, but many neutralized products are really not very safe. If we have problems in product design, we welcome everyone. Propose, we will give rewards.
Q2. Where i can buy OBEE?
Ans — At present, OBEE has started trading on Uniswap. You can purchase OBEE through Uniswap by entering the contract address of OBEE. We will also make more efforts to launch it on the exchange that everyone is looking forward to.OBEE Contract address: 0x3678d8CC9Eb08875A3720f34c1C8d1e1B31F5A11
Q3. Can you tell a feature or feature that you like best about OBEE so that it can compete with other competitors? What are you most confident about for your platform? What is your main goal to achieve in 2020? Do you have plans to get users to choose your platform?
Ans — This is of course possible. I feel that the best design of Obee Network comes from the design of members. This is not available in any product in the same field. Our membership mechanism will eliminate the bubble very well and will verify the value of OBEE. In the future, as long as we The number of users of the product exceeds 10,000, so we will also become one of the most powerful projects in the blockchain industry.
Q4. I saw you have the ‘External Liquidity Algorithm’. Would you be able to explain a bit more about it?
Ans — Of course, there is a formula 1=x*y on Uniswap, but I feel that this formula is obviously simplified. Uniswap’s internal price mechanism and market mechanism are still very complicated. I have studied Uniswap a lot, although others The opinions on Uniswap are different, but there is no doubt that the recent market changes are inseparable from Uniswap. Although users can only get three-thousandths of a handling fee for market making on Uniswap, we will provide a three-thousandth of a handling fee. This is actually a way of injecting funds without any risk. I am also optimistic about Uniswap.
Q5. It’s easy to make a token but it’s really hard to make this token valuable? So what’s your startegy to make OBEE token more valuable and what’s your plan to maintain token price and supply?
Ans — At present, the value generated by our OBEE token is not only limited to what you can see. Although our current community is very large, our ecological construction is more perfect. Our products are very complete. If you use it yourself, you will find many advantages. , This advantage is actually not a simple language that can be summarized. In short, our product empowers our OBEE token greatly. This is our product website: https://www.obee.vip/
I will give you a link with more news about our project
https://bbs.nuls.io/t/obee-network-information-links-obee-network/2219
Here are some important links of OBEE Network 👇
Website : http://obee.top
Products : http://www.obee.vip
Telegram Discussion : http://t.me/ObeeNetwork
Twitter : https://twitter.com/ObeeNetwork
