Thank you to the Bang Pateng Community for participating in Ask Me Anything (AMA) with Degen.VC on September 17, 2020. This guest star Mr. Paul Scott and Mr. Fraser Brown. If you were unable to join the live AMA, no worries, here comes our 1st AMA recap!

We are glad to meet here:
Mr. Paul Scott – CO Founder of Degen.VC

Mr. Fraser Brown – CO Founder of Degen.VC

Introduction Session

Before we start our first segment kindly introduce yourself to the community?

Thanks, I’m Paul Scott – our #degenhorde has renamed me Khal Drogo! My background is largely in Financial Services. I ended my career in banking as a Group Treasurer which was awesome. For the last 8 years I have been working in disruptive technology, and now full time on Blockchain! It has been a very exciting journey for the last 5 years and hopefully for many in the future. Fraser and I have been working on the concept of Degen.VC for a couple of years now as well. As Paul just said, I’ve been focused on the ideas that evolved into Degen VC with Paul for the past 2 years. I’m always amused by projects that get so much attention after two days in a hackathon putting together a few bits of opensource code. We have literally been building and reiterating these ideas now for some years.

Before this dev ops in various software.

Before this is diamonds. I had a business in New York city selling diamonds internationally

Before this Olympics. I represented Ireland in sailing in Athens 2004

Engineer with an MBA

Question Segment 1

Q1. Could you please describe what is Degen.VC $DGVC and Ercau $RAUX?

With pleasure.

Degen.VC is a call to all of crypto to join its liquidity pool and help launch the projects that will suppress the endless pumps and scams of crypto and ensure that quality, authentic teams and technologies rise.

When Degen.VC reaches scale, we hope to massively disrupt traditional venture finance, relplacing the very small population of venture capitalists with the crowd – any many people as possibel should have the chance to become their own VC!

The “crypto” community at its core does not want the VC to own everything. In general they are also against the formality of “investing” and wear the badge “degenerate” or degen, which describes someone who basically does nothing but trade crypto.

The ERCAU team ($RAUX) realised that gold needs its own central bank-equivalent to create one gold token to represent all gold. To be more precise they want to see a decentral bank for gold and believe that it can take the form of a smart contract.

Ercau is an Ethereum smart contract designed to act as a gold tokenization service by integrating local partners throughout the world that can store gold securely and verify this on-chain. This is done to allow Ercau to issue digital tokens straight to the owner’s Ethereum wallets. The owner could be an individual, institution or even a central bank but they each benefit from the same thing – their gold is now in a liquid, tradable, divisible and exchangeable format.

Q2. How to buy $DGVC token and $RAUX token? How much supply is available?

I wonder how many of your community have used Uniswap?

Its an AMM or automated market maker – very different than a normal exchange and completely open and permissionlessv. I like the question why better than how LOL. I think Paul answered why for RAUX but I can do this for DGVC. Its easy for people living in the US to invest in high potential technologies at the start up stage. But the barriers for much of the world are very high. But people have an apetite to risk some money on high potential things bottom line – VCs get most of the value currently Degen VC changes this profoundly new projects can launch by creating a new market on Uniswap and then airdropping a share of tokens (or alpha drop as we now call it) to a very large community. We bring this community – they are people who

1. Buy DGVC tokens on Uniswap then

2. Pool them with ETH on Uniswap to receive DGVC LP tokens.

We airdrop to people holding DGVC LP And we have three airdrops coming up!
You can buy DGVC here https://app.uniswap.org/#/swap?inputCurrency=0x26E43759551333e57F073bb0772F50329A957b30 and please do visit ercau.com for details about RAUX and links to its market etc

Like DGVC, $RAUX can be bought here: https://app.uniswap.org/#/swap?inputCurrency=0x68496eE825DAFE1cF66D4083f776B9eAAb31e447 There is a 1-million circulating supply, and the team locked 500,000 tokens in Unicrypt and 500,000 tokens was alphdropped to 189 $DGVC liquidity pool providers. This is how we generate value for our #degenhorde – and this is similar to how the next 3 alphadrops will be run – a nice amount will be alphadropped to our $DGVC liquiditiy providers!

Q3. Can you explain, what is the relationship between DEGEN.VC with ERCAU and what program is Degen.VC currently implementing?

Degen Labs – the incubation arm of Degen VC are overseeing the smart contract creation. Details of the early roll out are in development and will be made public in due course. You need to join our telegram our follow our twitter @degen_vc to stay posted. Thanks you

Q4. Currently Degen.VC have #Degenhorde designation for token holder. What other update will Degen.VC provide to users and investors? And what things will Degen.vc realize this year and in the coming years.

Yes, we love our #degenhorde! They are our most valuable commodity

Yesterday we published our refreshed roadmap of pipeline projects and activities, including a Hackaton in October – it is a really exciting time – our webiste is here: https://degen.vc

There are some really amazing innovations in the pipeline and we recommend that if you want to participate, head over to our Telegram channel first: https://t.me/degenvc, learn a little more about us, and then participate in our liquidity pool by buying $DGVC and contributing to the liquidity pool. You will then get alphadrops! This is an opportunity to build your own, personal, Venture Capital portfolio!

Question from Twitter

1.What the are main benefit to tokenize physical gold in into ERCAU? And what makes ERCAU different than other similar projects?

Some of the main benefits are that:

1. It is now easier to transfer or sell your gold to other parties through the Ethereum network.

2. You don’t have to worry about someone or some government taking your gold as now you only have the private keys to the gold stored elsewhere.

In this way, you have personal control over your own gold. This is a huge departure from all of the other gold-backed tokens in the market who claim to tokenize a store of gold in a vault…but do they really?

This is a huge advantage over keeping all those heavy gold bars and coins you own buried in your backyard!

2.Why did Degen.VC and Ercau choose Uniswap as the first decentralized exchange instead of a centralized exchange?

The vision of Degen.VC is to make sure the smaller investor can compete with the big guys!  By using Uniswap as our liquidity provider through airdrops to our liquidity pool providers, we ensure the smaller investor gets a head start on the big investors in the orm of venture capital funds.

Projects like ERCAU and their $RAUX token that partner with us share this vision, and believe a community led liquidity pool will prove they are not a rug-pull or scam project and our pipeline shows that there are many more like them who want to take the same journey with us!

3.DEGEN’s strength is in having a curation market feature. Can you explain to us what the curation market? and What is the advantage of using this function in $ RAUX token?

There is one main reason why VCs took over from the crowd funding new projects after the 2017 ICO boom. they were better equipped to filter or “curate” the projects that were worth backing and safe to back. It follows that if you can do this curation in a decentralized way you can take back this opportunity from VCs and present it to the crowd. That is the vision of our curation market. And now with the launch of Degen.vc we have make a big step forward in that mission.

4.Finance on blockchain DeFi comes with absolute risk for people using it. If they lose their keys, they lose their money. what about the ERCAU? Does the ERCAU have a special security that can reduce this risk? if ERCAU has it, explain about the security system?

its as simple and brutal as carrying phyical gold, or for that matter physical money or any bearer asset the trade off for decentralization is that you can’t go back to the blockchain and say hey heres my id, remind me what my passphrase was please that said, there are insurance products these days and I would not rule that out for ERCAU either if you could do this the sale of fake IDs would go through the roof LOL

5.Can you please tell us about your $DGVC and $RAUX supply and future plans like buyback or burn programs to guarantee the value of the tokens?

There are no buyback or burning capabilities written into the smart contracts, and although we could undertake this physically, it is not on the roadmap for either at present.

DGVC’s value will be enhanced and increased through a steady stream of alpha drops, and the pipeline we are building will ensure that this steady stream happens. The hackathon event we are planning in October will ensure there are numerous projects to come in the future!

RAUX – tokenize your own gold – all under your own control and you now have a liquid, tradable instrument that gives you the flexibility of trading your own gold without having to sell your gold, and buy it back, or pay ridiculously high lending rates!

The team has also included a clever option – your fees are less if you repay in another competitor’s gold-backed token. The team will then lock those tokens in a burn-like contract. This way the competition’s costs go up and their tokens are effectively “eaten”…

Segment Free Asking

Q1. Are you a global project or local project? Can anybody anywhere use $DGVC without Any restrictions?

We are a global project – every single person in the World should be entitled to become their own venture capitalist! Our alpha drops give you this opportunity. There are no restrictions and you should be able to have the value that VC’s do today

Q2. Many investors hit and run in the sell and sell session after listing on the first exchange, How did #DegenVC prevent early investors from selling their tokens and what benefits would #DegenVC give them?

very interesting question. We have reversed the negative traits of the pre-sale followed by dump on the small guys when it hits the exchange. The small guys get in first and they get tokens for free. They only need DGVC LP to play

Q3. What are the future plans for #DGVC Project? Do you have any exciting things down the pipeline that you can share??

THIS ☝️ was just announced https://medium.com/degen-vc/liquidity-mining-protocol-fffe2613c2c7

Q4. What do you think about crypto market on this day? As a new exchange what you can give to a new user, any future plan from you to grab some user with any future event?

We are very bullish on the future of crypto and DeFi in general. We are not an exchange but one of the projects we are launching soon is a DEX that uses a token bonding curve and a native token for pricing – super cool!

We are sponsoring a Hackathon next month – this will bring thousands of eyeballs onto $DGVC and will drive enormous value for the members of our #degenhorde

Q5. About your value proposition, for users who have $DGVC and are eligible for free tokens for DeFi projects, do you think this will strengthen your project in the long run? Aren’t you afraid that those projects will become your direct competition?

We are providing a stream of #alphadrops to our #degenhorde and we are not concerned that these projects will be competitors. These projects are those that provide huge value to the crypto industry and we are very proud to be working with them to improve the DeFi space and create value for as many individual investors as possible! We think our model is unique, and offer anyone the opportunity to present us project ideas via our website degen.vc


Website : https://www.degen.vc
Twitter : https://twitter.com/degen_vc
Github : https://github.com/degen-vc
Telegram group : http://t.me/degenvc
Discord : https://discord.gg/pPCuyYa