BlockTalks x RMPL AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with RMPL, on 10th 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 David, Head of Communication of RMPL. 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 RMPL to our community in layman’s term?
Ans — $RMPL is a decentralized (ERC20) cryptocurrency with an elastic supply model. $RMPL reaches a supply-price equilibrium with its randomized rebasing. As a result, the volatility is in the token supply, not the price. A holder’s ownership of the network always remains the same, as wallet balances are globally altered in proportion to changes in demand.
The changes in demand are altered with the rebase. A rebase changes the total supply, and with that every holder’s balance, depending on the price of $RMPL. If the price is above $1.05 the rebase will be positive and supply increases. When the price is below $0.95 the rebase is negative and the supply decreases. If the price is stable between $0.95 and $1.05 the supply won’t change. A rebase occurs between 0 and 48 hours after the last rebase at a random time.
So every RMPL holder’s balance will constantly increase or decrease depending on the price at the time of the rebase. To receive the rebase a user just needs to hold RMPL in his wallet — no need to stake or interact with any contract.
We also just released a new video which explains our project pretty good to newcomers: https://www.youtube.com/watch?v=rX-hFiTwT44&t
Q2. What are the advantages of RMPL to other alternatives in the Blockchain field?
Ans — Our main advantage in comparison to similar protocols is the random rebase. Because of this unpredictable element we can help protect crypto investors such as yourself and prevent manipulation by bots and whales.
For example if you know the exact time of the rebase, there will always be big market movement around the time of the rebase. With our randomization nobody can predict the next rebase and thus manipulate the market as easily.
Q3. What are the major milestones RMPL achieved so far & what are in future pipeline?
Ans — RMPL launched 7 days ago, shattering records with over $8,000,000 volume/day, taking the #2 spot on Uniswap within just 24 hours of launch. We are constantly in the top 10 of Uniswap volume charts which makes us really proud.
Our official Telegram channel is approaching 3,000 members, and RMPL has been featured in content by high profile influencers on YouTube and Twitter (more to come soon ;) ).
Milestones we are working on now:
- aggressive marketing campaign via influencers and tastemakers to help spread the word about the project in addition to traditional media as well. Marketing is already ongoing. We have more AMAs planned and you also can expect some project reviews from very well known YouTubers.
- product development is ongoing — we will release a liquidity staking program (the RMPL Cradle) later this month, a dashboard with rebase stats and probability of the next rebase happening and other things which we can’t announce yet.
Questions Asked on Twitter For RMPL!
Q1. While perusing through your website, I came across “RMPL Cradle” which offers a solution to incentivize liquidity provision on Uniswap. Could you explain this further? Does this implies that if I provide liquidity for RMPL on Uniswap, I will receive extra tokens?
Ans — With the “RMPL Cradle” you will be able to receive rewards for providing liquidity on Uniswap. When you provide Liquidity, you’ll receive “UNI-V2” tokens. You can stake those tokens on our dashboard and get rewarded for it.
Liquidity providers will be rewarded from the ecosystem fund. Earnings depend on the duration of your stake and on your weight in the network. Exact numbers will be shared later when the Cradle is available.
We are expecting to increase the available liquidity on Uniswap by a large amount with this incentive. The RMPL Cradle is in development right now and will be launched later this month.
Q2. What are your strategies in building a big and strong community? Do you agree that the power of the community will lead your project to grow globally? What are the services you offer to the community?
Ans — We are currently in the process of expanding our community rapidly. We have scheduled several AMAs in different communities all around the world — just like this AMA. We had an AMA with a Vietnamese group just some days ago.
We are also in the process of creating different telegram channels for RMPL like a french and vietnam one which are already live or a chinese one coming soon.
And yes we agree that community is one of the most important aspects of a successful project — a project is only as strong as its community.
Regarding services: we offer of course our elastic supply protocol. In the near future you will also be able to earn through liquidity staking. We have more things planned to utilize RMPL — which we can’t reveal yet though.
Q3. Your website states that “Holders of the coin (RMPL) own a percentage of the network. Their holdings rise in value as market cap rises”. For instance if I’m holding about 200 RMPL at a total supply of 1 million RMPL, How would the updated wallet balance be adjusted?
Ans — let me do a calculation real quick:
So in this example you own 200 RMPL with a total supply of 1M which would be 0.02%.
Now let’s say the total supply increases to 4M after several days of positive rebases.
Assuming you didn’t sell or buy any RMPL your percentage share stays the same but the number of RMPL increases. With 4M supply your new balance would be 800 $RMPL.
Q4. What are the products that develop in the RmplDefi project? And how can it continue for the future?
Ans — Our main “product”, the elastic supply protocol, is live already and the Cradle is coming soon as well.
Our community suggested many use cases they would like to see like some sort of betting protocol where you can place bets on the next rebase time.. we are discussing things like this in our team and are very interested to develop in this direction.
Q5. DeFi has evolved from a movement to basically the fastest growing and the most accessible facet of the blockchain industry. In your opinion, do you think we are at risk of saturation?
Ans — In my personal opinion DeFi is a very important use case of decentralized protocols and blockchain but I can see that the market is getting saturated very quickly right now.
I think that many more projects will launch in the near future but in order to survive and stand out as a project unique ideas and use cases are crucial.
Some very promising projects launched recently but I think the current DeFi space will look vastly different in a year.. it kind of feels like the ICO craze in 2017.
Questions Asked by our BlockTalks Community Members during live Session for RMPL team!
Q1. Could you please elaborate a bit on the lag factor, how it is determined and what role it plays in the rebase calculations now and moving forward?
Ans — The lag factor depends on the total supply.
With a low total supply, the lag factor is between 6 and 10
with a high supply (above 100M), the lag factor is between 10 and 14
Here you can see an example to calculate the rebase:
Formula:
(current price — base target price) * wallet balance / (base target price * lag factor)
Example:
At a current price of $1.30, lag factor 10.00, the updated wallet balance would be adjusted by: (1.30–1) * 100 / (1 * 10) = 3
The new wallet balance would be 103 $RMPL.
Q2. Can you tell us the motivation and benefits for investors to hold the $RMPL token for long term? What are Team plans to make RMPL a Crypto-friendly?
Ans — Long term is the most important aspect of RMPL — long term holders profit the most from the rebases.
The longer you hold the higher your rebase rewards get as your holdings compound.
That being said we are only one week old so still at the very beginning.
Q3. Most Defi projects on Uniswap are subject to hacks due to vulnerabilities in their smart contracts. As a project with an elastic supply model, How secured is RMPL Smart contracts? How often do you carry out security audits?
Ans — we are very aware of security issues and have seen them many times in the past with other projects.
In order to make sure our code is secure, our code is being audited by 3rd party firms. We will also audit every major expansion or new contracts.
Q4. You said that $RMPL will keep stabilization from 0.95$ — 1.05$ but now it is 2$ on UNISWAP . I dont really unterstand about RMPL’s stabilization strategies and rebase programm . Can you give me more information and how many total rebase in a 2020?
Ans — the ultimate goal is to achieve a stable price around $1.
But in order to achieve that the marketcap needs to be WAY higher.. with our current cap we are right at the beginning.
So if the price is above $1.05 the rebase will push the marketcap higher until we reach the $1 peg.
For marketcap comparison you can look at our competitor which i assume is well known here.
We had 7 rebases so far. With an average of 1/day.
Q5. What is your long-term vision about the industry which #RMPL working on? Are you afraid some day there will be another project with more innovative technology can replace #RMPL ? Because we can see many crypto projects related with this concept recently.
Ans — We can already see many projects trying to achieve the same goal as us.
That being said we are not afraid of competition as we are very confident with our project and will keep developing more and more use cases.
Q6. Investors often care less about technology, but more about the value of tokens. How do you balance the development of technology and increasing the RMPL value?
Ans — Good question. I think for now investors have the main advantage that our marketcap is very low in comparison to our competitor.
We also have plans to utilize RMPL on different platforms and thus create value.
Q7. What is the advantage of adding the random factor to the supply model? Could this scare investors away given the uncertainty?
Ans — In our experience, judging on the 7 days we are live, it is the direct opposite. Our community is very excited about the randomization
“The next rebase can LITERALLY happen any minute”
Q8. You have done this AMA in Blocktalks explaining your product and it has been fantastic. Now I want to ask you, what role does the community play in $ RMPL? How can we get involved and what would you like to receive from us?
Ans — awesome question.
The biggest thing the community can do for us is spread the word about RMPL.
We are very happy so far.. we have members who actively building things for RMPL already. For example one user made a rebase dashboard with very nice design. Others made videos or memes.
This is all voluntarily but we already paid some prizes to those members to show our gratitude.
Q9. How the idea of Creating this RMPL Project came into Existence ? And what were the difficulties that came while developing this Project ?
Ans — As said before we wanted to improve the functions of our main competitor.
The biggest difficulty so far is the implementation with exchanges.. for normal ERC20 token you basically just list them but for RMPL it is a little more complicated. We are actively working with exchange developers on it.
That being said we are very happy with the performance on Uniswap alone this far.
Q10. Many new projects made a good impression at first but were suddenly abandoned. My question is, how will you manage the RMPL token to gain a place in the market and become a best token in the blockchain world?
Ans — Right now all indicators are pointing to a bull run for cryptocurrency in general. We believe that there are too many coins that are forgotten in a few weeks and we are going to assure that does not happen with RMPL. We have a dedicated team that is in this for the long term. The good news is that finding new communities to grow with has not been a problem as we are receiving messages every hour it seems with potential new partners. Our founder Blue has extremely ambitious targets and has stated multiple times that $1,000,000,000 is our market cap target. The excitement is contagious with the team and we are all honed in on making this happen.
Q11. We all talk about Positive points/Pros/Good Points & Features of any Project, no one Project tell about there Cons. So can you tell us Honestly the Cons & Lacks of RmplDEFI network? And what’s your plan to solve them?
Ans — According to our community the main problem is that the code is not public. This will be changed today with the code release.
Q12. Can you tell a feature or feature that you like best about RMPL 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 — The randomized rebase is our favourite and most important feature.. we can literally feel the excitement in our community of waiting for the next rebase everyday.
Q11. Since we have a lot of questions regarding the tokenomics, please explain to us what role does $RMPL token play in the ecosystem? Tell us about your core team members background and how they started with the RMPL ?
Ans — Our team is anonymous but you can find a team section on our website:
https://www.rmpl.io/v2/our-team/
We started because we really liked our main competitor but saw some obvious flaws and wanted to improve on them.
Q12. Investors often care less about technology, but more about the value of tokens. How do you balance the development of technology and increasing the RMPL value?
Ans — I think for now investors have the main advantage that our marketcap is very low in comparison to our competitor.
We also have plans to utilize RMPL on different platforms and thus create value.
Q13. What is the advantage of adding the random factor to the supply model? Could this scare investors away given the uncertainty?
Ans — In our experience, judging on the 7 days we are live, it is the direct opposite. Our community is very excited about the randomization
“The next rebase can LITERALLY happen any minute”
Q14. You have done this AMA in Blocktalks explaining your product and it has been fantastic. Now I want to ask you, what role does the community play in $ RMPL? How can we get involved and what would you like to receive from us?
Ans — The biggest thing the community can do for us is spread the word about RMPL.
We are very happy so far.. we have members who actively building things for RMPL already. For example one user made a rebase dashboard with very nice design. Others made videos or memes.
This is all voluntarily but we already paid some prizes to those members to show our gratitude.
Here are some important links of RMPL 👇
Website : http://rmpl.io/
Telegram Discussion : http://t.me/RMPLTG
Telegram ANN : http://t.me/RMPLANN
Twitter : https://twitter.com/RmplDefi
