Thanks a lot for actively participating in the Cryption Network AMA held on 19th March 2021 at the Game of Bitcoins Channel. We really appreciate all your support. This post is a recap of the entire session held with Cryption Network

We have with us Tejas Chitnis and Ashwin Yardi

I've been into crypto since early 2017. Cryption was the first website to sell ETH in India on a website called etherrush. We then created a centralized swapping system and then got into developing decentralized products for clients.

Ashwin - Thanks @game_admin , best way to intro myself is a techie extremely passionate about the blockchains and Crypto. I believe in blockchain as a revolutionary technology and impact it can create in this society. Have been developing in this space for more than 3 years now.

Please share a brief about Cryption Network and how did you come across the idea? What made you go for this project?

I've been into crypto since early 2017. Cryption was the first website to sell ETH in India on a website called etherrush. We then created a centralized swaping system and then got into developing decentralized products for clients. Now after over 3 years of experience we are ready to deploy our own products

This project is a loong time in the making and we have been working on all the products for months now. Quite early we realized that the high gas fees were a big issue and we’re gonna be an even bigger problem in the future. There is no point for retail investors to use any dApps at such exorbitant gas fees. dApps on Ethereum have become unusable at the moment.

Q1. Its quite interesting and good project, question is if you are gonna pay gas fees instead of users then how it could be profitable for Cryption Network? I personally believe it's not a scam but Is there anything that will give confidence to people for investing here?

Great question, first of all, we all know atm Ethereum mainnet is bit struggling with high gas fees and imited scalability. Exactly why, we are launching our products in Polygoin ( Matic ), L2 for Ethereum. As a result, to start with, there will be very negligible gas costs to participate in Cryption Network products, fees will be few cents max with high throughput and secure infra.

Gas cost are very low and will be easily paid by the company through trading fees of the SwapCafe.. A million transactions can be done in $1000

We are already working on building GSNs and integrating products like Biconomy. This means, everything GASLESS! 🙂

Q2. There are 3 core issues prevalent in crypto and blockchain: Security, Interoperability and Scalability. So how does Your Project plan to overcome these issues?

SECURITY

There are 2 security aspects when it comes to our products. Smart Contract Risk and security of the L2 chain (Polygon). Polygon is quite robust, with great technical people working there, as for the chain it achieves finality on Ethereum every 2 hours.

As for smart contract risk, all our contracts will be audited by a third-party firm. Our prediction market will allow users to insure the contract by asking the question “Will Swapcafe be hacked by December 31st 2022?” This will allow users to hedge their risks

and As for Scalability, Polygon already has throughput of around 65k transactions/second. And that too without compromising on security.

We are putting a lot of research into the interoperability of different blockchain (cross-blockchains) as will true interoperability with the ethereum mainchain.

Polygons POS chain is designed to be scalable as it is a Layer 2 solution

Q3. What are Cryption Network biggest challenges in blockchain in the future? And how are you going to solve them?

The biggest challenge of Cryption network is to onboard those who find crypto and dapps too difficult to use. Our app, making things gasless and everything else is an attempt to onboard new users to crypto

Another big challenge of Cryption Network is the true scope of the project. It is ambitious to say the least there are a few that doubt we can bring everything together. We have a great team which is gonna get better and we gonna keep pushing forward!

Q4. Defi is a very hot keyword at the moment, many projects have started cooperating with DeFi platforms. So is Cryption Network planning to cooperate with DeFi projects and develop #CrytionNetwork towards DeFi in the future?

Our Products and our company will be valuing partnerships very highly. We cant talk about partnerships officially right now, the only thing we can let you know is we are talking to a lot of exciting and well-know DeFi projects. We also have partner staking and partner farms to incentivize more partnerships

Community is definitely gonna witness some very exciting partnerships in the near future ✌️

Q5. Regulation is very important. Many projects were closed in many countries due to failure to use the correct regulations and permits. In order to go global how does Cryption Network team deal with these issues?

One of the first things we took care of was legal. There is no point of the project if it isn't legal secure. The main thing to remember is even if something happens, which it wont, all contracts are decentralized and immutable. Once on the blockchain NOONE can bring them down!

Plus, We have a very good and experienced legal team guiding and taking care of compliance and regulatory part.

Q6. Before we move to the live audience questions, my next and last question is divided into three subparts.

a. Can you please tell us a little more about products like esp. Swap Cafe and Elastic Farming?

Swapcafe is a L2 AMM swap. This will be coupled with robust tokenomics like staking to earn trading fees, burning of our CNT token, and farming to incentivize liquidity.

b. Where do you plan to see the Negligible gas fees structure going?

Eventually, all of Cryption Networks L2 products will be completely gasless.

c. When is the scheduled to Launch for Cryption Network? Please give us a few more details about that.

We will be launching out IDO in next 2 to 3 weeks. We will be launching with staking and farming. We are going to have a launch of a product BEFORE our token sale as well, stay tuned for that!

Q7. I have two questions do you like Naruto ? And how does your project achieve a good scalability?

Naruto has too many fillers, Shippuden is better. We will be using matic/polygon for making it gasless

Q8. Here question related to

1) Advantages - what are the advantages of cryption compared to most projects currently on the market?

2) Staking - STAKING" is one of the STRATEGIES to ATTRACT USERS and ACHIEVE MASS ADOPTION , What is your plan regarding staking?

We will have staking on DAY 1 of the launch!

Q9. Do you have any plans to attract non-crypto investors to  cryption who are still not in the crypto world specially as a new project entering to crypto. What are the plans to increase awareness about  cryption around in non-crypto space?

1. We will have an app 

2. it will be gasless.

This means it will be like using any other app.

Q10. How does the Cryption Network team assess the risks associated with market uncertainty and volatility? Is there a market risk hedging mechanism to ensure user safety?

We have one of the strongest tokenomics designed to deal with uncertain markets. Various mechanisms like Elastic Farming are carefully designed to ensure that LPs and participants are rewarded fairly minimising their losses.

Q11. What is your strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally? What services do you provide to the community?

We will be giving NFT to community holders which will allow privilege access to telegram groups, beta testing, discount on fees, and even extra farming rewards.

Q12. What is the mission of Cryption Network in the competitive market of cryptocurrencies? And what marketing strategies are you willing to use to achieve greater adoption?

As we have already said, we want to make world of Crypto and Defi accessible to masses. We want to connect all those users who are yet not using and benefiting from this revolutionary tech.

Q13. How can Community participate in Cryption Network ? As a miner? Validator?Please explain. Also what is the important community for Cryption Network ?

We will have our own POS node where you can stake Matic and earn an interest rate along with CNT

Q14. The DEFI space is very young and is changing rapidly. My question is, how flexible are your tools to adapt to changes in the DEFI crypto space?

We have been working in DefI for 2 years now. We understand how the trend goes and how to adapt to the newest tech

Q15. Please tell us more about farming on your platform. How can I get CNT tokens and on which trading platform can I sell

You can farm on our network as well sell it on our swap

Q16. How will the problem of manipulation and tampering be solved in Cryption Network? Is it possible to completely exclude human influence and fully use a smart contract?

That's how the industry should do it. That's how we will do it

Q17. 1. Increasing Token price 2.make Token Valuable 3. Building Community Trust

From 3 aspects above,. I want to ask. Which one the most important for you? If all above are important for you,. Which one that Will you do first?

Honestly, we have already taken are of all three. But If we are to choose one, I'd go with Community trust. It is the community which matters the most and their trust, participation is invaluable. We will do everything in our power to make sure that community plays crucial role in Cryption networks

Q18. All project's coins have their main Utilities & real-life use! So, team can you tell us what the main role of your coin is in your ecosystem? Explain its Utilities & Real-Life use cases? and Why should i invest in your coin for the long term?

We will be burning tokens 🔥  using the profits of the exchange to increase the price

Q19. No one can achieve anything valuable on its own, please tell us about your current and future partnerships that will lead you to success in this highly cramped crypto space?

We will be partnering with many dApps which we have contacts with as we are from the industry

Q20. One of the biggest issues for dapps is onboarding. What solutions have Cryption Network team found to try to resolve this problem?

We are heavily focussing on building UI/UX which is user-friendly and users can relate with it. Our products will also support traditional authentication mechanisms e.g. emails but at the same time, it will be decentralised without compromising on security.

Q21. Many new projects initially developed well but were suddenly abandoned. How will you manage your project to get your position on the market and become the best project in the blockchain world?

This is what we do. Theres nowhere to go if we abandon the project

Q22. Cryption Network will only be in charge of simplifying the functions that are already common in the market? Or are they really innovating by creating better and simpler products?

There are new and exciting things like elastic farming

Q23. I understand that due to its Layer 2 construction, the gas rates will decrease considerably, really why will Cryption Network cover the rest of the rate? Will they want to attract more users? Or is it simply because of another feature that you have reduced the fees to zero?

Its a win win. less gas means more users meaning more volume and liquidity

Q24. What about the early adopter? How will you ensure they get a chance in IDO?

Yes, definitely, community feedback matters and we will definitely take some steps in this direction

Q25. I am an EXPERIENCED DEVELOPER AND ETHICAL HACKER, do you have plans for HACKATHON so as to check the security of your ecosystem periodically and also invite developers to build?

We will have bounties for things to be made! I already have a few things in mind

Q26. Does the price of the token matter to you from an operational perspective, if the token price is $1 or $100?

Not from an operational perspective buts since w are holder we would do the best possible in tokenomics to increase the price

Q27. What is your strongest advantage that you think will make your team leading the market?

We are launching a series of products on Matic which are one of its kind. On top of it, all of the products will be under one big interconnected ecosystem. This ensures stead growth of all the products

Q28. At the moment , where you are focusing right now ? building and developing product or getting customers and users, or partnerships? Could you share it?

Tbh, building and developing great products is and will always be the focus. BUT, getting customers and partneships is equally importanat and is being given equal priority.