Thank you to the Bang Pateng Community for participating in Ask Me Anything (AMA) with SAVIX Time on January 26th, 2021. This guest star Mr. Anatol Galkina | CO FOUNDER OF SAVIX. If you were unable to join the live AMA, no worries, here comes our 37th AMA recap!
Introduction Session
Host :
Hello Mr @anatol93 welcome to the Bang Pateng community, It’s an honor to invite you to our community
Anatol Galkina :
hi, thanks for having us.
Host :
Before we start our first session can you introduce yourself, your background and your team if you have a team working with you on SAVIX @anatol93
Anatol Galkina :
My name is Anatol. I have been in crypto since 2012. 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 our staking algorithm.
Host :
Thanks for sharing your background. Good. AMA let’s get started.
Well we will continue to the first session, in this session I will give a question about SAVIX, if you feel you have enough to give an answer, you can say “done”.
Anatol Galkina :
Okey
SESI 1 (Poject Introduction)
Q1. Can you introduce SAVIX to our community?
Anatol Galkina :
With the help of convenient platforms such as Uniswap users can easily use innovative financial products based on Distributed Ledger Technologies (DLT).
The digital currencies that are used for this purpose must be transferred to the respective ledger in which the desired financial instrument is mapped. Tokens used this way are temporarily “locked” and therefore cannot simultaneously participate in a staking protocol.
The user has to make a decision, so to speak, whether he invests his money conservatively and safely by staking or more risk-consciously with greater possible profit using a DeFi product.
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.
This way with Savix you can generate multiple types of passive income simultaneously.
Savix is 1 token generating 3 streams of passive income.
Q2. What are the core features of SAVIX? How are you different and unique from all other projects out there
Anatol Galkina :
🔹 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. I saw that SAVIX has its token named $SVX, can you explain what the token is $SVX? What benefits can we get if we hold tokens $SVX? And how to buy?
Anatol Galkina :
Savix is a perfect collateral for decentralized finance because, it is:
🔹 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
You can buy Savix through our presale dapp: https://savix.org/presale/dapp
Or by directly transferring ETH to our presale contract from any ETH wallet. Detailed information can be found at the presale dapp, too
Q4. Nowadays Farming or staking is very popular. Have you provided your Farming or Staking Facility to $SVX Investors? if you have, can you explain how to staking and farming $SVX?
Anatol Galkina :
Our gas-free embedded staking is the core feature of Savix. Holders receive staking rewards automatically without the need to do anything. Rewards go directly to the users wallet.
It is the easiest staking method available. You can compare it to a traditional savings account.
Q5. Could you please explain, what are your upcoming plans in a couple of month/years?
Anatol Galkina :
Savix is already developed and deployed on mainnet.
Contract:
https://etherscan.io/address/0x8A6E8e9f7d61e97bDe7E66336DBEea4FCBb388AE
Next milestones:
🔹 Partnerships with DeFi projects and exchanges in Q1 2021
🔹 Savix Trinary at end of Q1 / beginning of Q2.
Our general vision is and main objective is to let users profit as much as possible from new investment opportunities created by decentralized finance with as less barriers as possible.
Therefore we will combine as many DeFi investment opportunities as possible in the Savix Dapp which we will build with a simple and easy-to handle user interface that everybody can use even without being a technical expert.
We want crypto products to be used by ordinary people. This is what crypto adaption should be like.
SESI 2 (Twitter Question)
Anatol Galkina :
Savix’ main objective is to let investors profit as much as possible from new opportunities created by decentralized finance with as less barriers as possible.
Our most ambitious goal in this context is to build a decentralized app based on smart contracts which gives Savix holders all functions they need for acquiring and trading SVX tokens
🔹 Investing SVX in a multitude of DeFi products
🔹 Keeping track of holders actions and value development in a personal dashboard
🔹 In one single user interface with as minimal complexity as possible.
The goal of this app will not be to represent every feature and option one can think of, but to give users exactly what is needed to fulfil the tasks mentioned above right at their fingertips.
The main idea is that most of the functions should be operable with just one button. Simply and reduced, usable for non-tech savvy, but covering everything you usually need to fulfil your tasks.
Think of this dapp as a combination of a DEX, a DeFi command center and a personal wallet with dashboard.
On the way there will be partnerships to build, for instance with DeFi projects or exchanges. This will be the first thing the community can look for after the official launch of the token.
The Trinary dapp will be the next big big development step Savix will take. The community may watch out for Trinary somewhen after march 2021.
Anatol Galkina :
PES is the core of Savix, since only protocol embedded staking enables multiple parallel streams of passive income.
You can find the differences between Savix protocol based staking to common pool based staking at the Savix homepage- With Savix staking is automatic and gas-free!
If you compare Savix staking to ordinary staking you will find that:
❌ Pool Based Staking: only pooled tokens get rewards
✅ With Savix all tokens are automatically staked and get rewards
❌ Pool Based Staking: usage in other DeFi Products impossible while tokens are staked
✅ Savix staking yields an extra reward layer while tokens can be used freely
❌ Pool Based Staking: staking rewards have to be claimed (transfer fee)
✅ With Savix rewards go directly to the holding address (gas-free, zero fees)
❌ Pool Based Staking: cyclic selling pressure possible at the end of staking periods
✅ With Savix staking there aren’t any system immanent sale incentives
❌ Pool Based Staking: users have to make informed decisions (eg. choose a staking pool) to participate
✅ With Savix staking is completely automatic without requirement of user decisions or interactions (even for non tech savvy)
Anatol Galkina :
Of course fees are an immanent part of all cryptocurrencies, since they are the price for the basic infrastructure to run securely and smoothly. For ERC20 tokens the underlying infrastructure is the Ethereum network and naturally there will be fees involved once the Savix token is transferred from one address to another.
The main difference of Savix to all other tokens out there is, that Savix staking does not require any dedicated transaction. Savix balances are defined as relations of the total supply of coins and can be adjusted without executing any transactions.
This is the reason why Savix staking is gas-free. No transactions, no fees.
What we eventually will do in future is to bridge Savix to other networks since the principle of PES is not limited to the Ethereum technology.
Anatol Galkina :
As already said in the answer to the first question from Twitter, we plan to create a Savix dapp which will integrate trading and DeFi investment opportunities in a single and easy-to-use interface. The first part of this application will be a DEX integration which will allow direct conversion to and from other cryptocurrencies, not only Ethereum and tokens based on it.
After SVX will be listed on Exchanges this integration will include conversions to and from Fiat as well.
Savix will not try to take funds from user wallets to realize these functions. The best way of protecting user funds is to always keep the custody in the hands (and wallets) of the user.
The Savix ecosystem serves the purpose to combine the strength of the many to fulfil tasks one alone cannot fulfil. The main aspect of this is creating and operating an ecosystem pool of tokens which can be used to realize the integration with partner projects, enable exchange listing, launch marketing initiatives and the like.
The SVX token itself is simply a collateral coin. Look at it as a currency you can use for financial operations with the uniqueness of our staking mechanism built into the currency.
SVX token are not coupons for services as utility tokens are. SVX tokens are not shares of some external value (like a product, service or company) you have the right to profit from.
SVX tokens are the value themselves, because they enable you to increase your financial input in the most elegant and easy-to-use way. SVX tokens are 1 token for 3 income streams.
Anatol Galkina :
Savix “Trinary” will be our first Dapp to demonstrate the power of our ERC20 embedded staking protocol. Users receive ETH for providing liquidity on automated market making platforms (AMMs) like Uniswap. The more liquidity you provide, and for longer, the greater share of the ETH pool you receive.
Here are the details for the 3 passive income streams:
🔹 Uniswap Rewards:
There is a 0.3% fee for swapping tokens on Uniswap. This fee is split by liquidity providers proportional to their contribution to liquidity reserves. It is functioning as a payout to all liquidity providers proportional to their share of the pool.
🔹 Staking rewards:
In addition, you will earn Savix staking rewards from the embedded staking protocol while your tokens get used as liquidity.
🔹 Trinary rewards:
Whenever liquidity is deposited into a uniswap pool, special tokens known as liquidity tokens are minted to the provider’s address, in proportion to how much liquidity they contributed to the pool. These tokens are a representation of a liquidity provider’s contribution to a pool. With Savix “Trinary” it is possible to deposit savix liquidity tokens for up to 6 month to receive yet another reward layer: ETH from our ecosystem pool. We expect a return of 7% to 15% of your initial investment directly paid in ETH over the first 6 month.
SESI 3 (Telegram Question)
Rhada | @Rhada25
Hi Mr.@Anatol93
DeFi is not a safe or stable place to save money, because Many projects are rugpulled, exploited, or hacked. how does Savic secure the risk of these DeFi problems? What solutions will Savic provide in securing DeFi risks to the Savix ecosystem itself?
The STAKING ecosystem is very popular. Recently, investors get passive income from STAKING. What about the Savix STAKING ecosystem? What benefits will investors get from the STAKING ecosystem on the Savix platform?
Anatol Galkina :
The question about staking we answered already, but we want to give you some prepared answer about our trust and security features:
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:
https://savix.org/wp-content/uploads/2020/11/SAVIX-Security-Audit.pdf
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
Sunny Yaman | @Qnosir
I wanted to follow your project for the long term. Where i can get all the latest news about your project? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?From your website , we can submit problem, suggestion, idea or bug report and get reward, where we can submit that?
Anatol Galkina :
here are our social media channels: https://savix.orghttps://twitter.com/savix_orghttps://github.com/SavixOrg@savix_org
if you want to directly reach out to us, you can use our email : admin@savix.org
Shabbir Husain | @starshades007 ❌
Does the price of the token matter to you from an operational perspective, if the token price is $1 or $100?
Anatol Galkina :
for the operation of the token the value does not matter, the token itself does not need any operational expenses. we already paid for development , test and deployment. But for our investors we aim for a stable price.
Namber | @number_H
You guys are doing Ama’s in all group & almost answering same types of questions again and again? How do You feel about it?
Anatol Galkina :
early on it was a bit stressful, but we start to really enjoy engaging with different communities from different cultures.
Rizki Kori A | @senewe10 ❌
Covid-19 is still causing huge losses in many countries, how has #SAVIX adapted in the context of this ongoing global pandemic? Usually the project only tells about their strengths. Can you tell us honestly about the weaknesses of your project? And what are your plans to solve it?
Anatol Galkina :
because of covid-19 our country is on a heavy lockdown. this makes it much more difficult to get everything done in time.
Our main weakness is a lack of marketing knowledge. Our team mainly consists of passionate developers. We learned a lot about promotion just recently. Hopefully we could convince you of the value of Savix
CLOSING
Well… We declare AMA’s Series Bang Pateng with SAVIX, is Done. 🥳🥳🥳🥳
thank you to the participants who have attended this event to the end. the winners will be announced soon🥳🥳🥳
Social media
📍 Twitter : https://twitter.com/savix_org
📍 Telegram Chat : https://t.me/savix_org
📍 Website : https://savix.org/
📍 Medium : https://anatol69.medium.com/
📍 Github : https://github.com/SavixOrg