THIRM AMA Recap Crypto Revolution Telegram Group

By Crypto Revolution | Crypto Revolution Telegram Group AMA Recaps | 3 Feb 2021

On 2nd of February Thirm conducted an AMA in Crypto Revolution Community. Our guests were A Singh and Suhail from Thirm team. Let’s take a look at most interesting points from our Conversation.

INTRODUCTION

Danny | Crypto Revolution: Welcome guys. Happy to have you with us today.

A Singh | Thirm: Hello everyone !

Suhail | Thirm: Hi guys

A Singh | Thirm: This is Aman S, Founder & Lead Developer, THIRM

Danny| Crypto Revolution: Could you please introduce yourselves and tell us how did you get involved into Crypto? 🙂

A Singh | Thirm: I been developing THIRM since FEB 2020, i am a developer on the team and our team consist of 4 people at the moment (3 developers + 1 CM ) please know about us more on our about page. I bring experience from various big companies, the most notable one comes from working in bitfinex development team.

Danny | Crypto Revolution: Could you please mention some of the Companies?

A Singh | Thirm: Please find our linkedin page, that will save you time
https://www.linkedin.com/company/thirm/?viewAsMember=true

Danny| Crypto Revolution: Could you please introduce Thirm in Layman’s term to the Community?

A Singh | Thirm: THIRM PROTOCOL allows you to transfer your cryptocurrency assets between multiple blockchains. Much like Ren Protocol
but our core technologies are different. So if you wanted to access NANO BTC LTC XMR on Ethereum or on Polkadot ( In development ) you will use THIRM PROTOCOL to get those assets. Right now DeFi space is exploding but projects are limited to there own blockchain. We plan to change that.

Danny| Crypto Revolution: And why people have to use Thirm. What are the benefits for them?

A Singh | Thirm: Well our only competition is ren protocol, they offer 3 cryptocurrencies currently, we plan to have 5 blockchains support by next 2 months.

Since ren protocol is only limited to ethereum, while THIRM can easily be implemented on all popular blockchains ex BNB DOT.
+ ren protocol was funded by 35 million grant , we are developing same thing voluntary not only that THIRM allows you to build custom integrations for yourself.

Danny| Crypto Revolution: Voluntary you mean with help of the Community I guess.

A Singh | Thirm: TEAM working for free i mean.

Danny| Crypto Revolution: This is impressive. What is motivating you? 😃

A Singh | Thirm: 100 Million valuation in a year ! ha ha

Danny| Crypto Revolution: Lol. Niceee

A Singh | Thirm: Here is
https://docs.thirm.com/vm1.png

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A simple diagram to explain things better!

Danny| Crypto Revolution: Thanks for sharing

A Singh | Thirm: https://docs.thirm.com/vm2.png

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Danny| Crypto Revolution: Why is not much liquidity on Uniswap?

A Singh | Thirm: Well we haven’t raised any money from public yet
and our LP module went live 3 days back. THIRM was on development phase and LP is set to low cause currently we only neede small Lp to test things.

Danny| Crypto Revolution: You do a Sale as well right?

A Singh | Thirm: Yes its live on bounce sale as we speak. All funds raised go to LP!

Suhail | Thirm: Correct and our bounce sale is at:

https://app.bounce.finance/fixed-swap/4608

Danny | Crypto Revolution: Thank you 😁

Suhail | Thirm: Yea and no slippage or price impact + full amount goes to LP. Thirm keeps nothing

TWITTER QUESTIONS

Q1 from @Nuralimi16

On the THIRM PROTOCOL roadmap I see currently in nano testing, what is nano testing for and what is the impact on the progress of the THIRM PROTOCOL project, and what about the previous roadmap has it gone according to the progress of your project?

A Singh | Thirm: NANO is a crypto.

Nano price today, NANO marketcap, chart, and info | CoinMarketCap

What Is Nano (NANO)? Billed as "digital money for the modern world," Nano is a lightweight cryptocurrency that is…

coinmarketcap.com

NANO was the 1st coin THIRM Protocol integrated
https://medium.com/thirmprotocol/say-hello-to-nano-unique-fast-feeless-crypto-on-thirm-protocol-1541e1b3f965

Danny | Crypto Revolution: Yeah Nano are old Project already solid!

A Singh | Thirm: We added NANO in Nov 2020 and we been testing it with the NANO community to see and improve the performance. Since nano is fast and feeless we want to ensure that the experience carries on when its added to THIRM PROTOCOL. So for past 3 months we been improving NANo integration that what NANO Testing means in our roadmap as you can see.

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We plan to test all supported coins.

Danny| Crypto Revolution: What are your plans for next few months according to the Road Map? Bitcoin Testing?

A Singh | Thirm: Yes. Our BTC implementation is ready as well but its pending testing. It will be started after we are ensured that NANO is 100% good. Its scary to find bugs later when people are putting thousand of dollar
better to take time and test every coin with our team and coin community as well.

Danny| Crypto Revolution: Yeah agree on that

A Singh | Thirm: Our current NANO transaction takes less then 2 seconds
in NOV 2020 it was 60 seconds. So you see the improvements we made

Danny| Crypto Revolution: Yeap. Btw is your Smart Contract Audited?

A Singh | Thirm: Since we are in development and lot of contracts are still needed to be deployed we have not been audited yet cause audit is for production realeses. We are in BETA.

Danny| Crypto Revolution: When you plan to do so. Any time frame?

A Singh | Thirm: Its after testing XMR.
FACT : We managed to hit number 3 in on stateofthedapp in finance when we launched NANO to public. This page is best way to be updated about our realeses: https://www.stateofthedapps.com/dapps/thirm

Danny| Crypto Revolution: That’s pretty good Achievement.

Suhail | Thirm: I would also like to add, we will be also adding insurance, and a secure one at that!

Danny| Crypto Revolution: Solid

Q2 from @y1sus_afp

THIRM is compatible with most blockchains today. How do you avoid the risks of slippage or transaction delays inherent in working with multiple blockchains? How do you solve interoperability issues between blockchains?

A Singh | Thirm: Well thats a invalid question. Somewhat invalid. Slippage is wrong word here. Blockchains do not have slippage. Its a concept from UI and frontend when a thing is coded and running on blockchain. Its processes direct values.

We have a module know as DATAMAP. Basically that is where all information has to go in order to be processed and VM has modules for each blockchain it works with. So lets say you wanted to have NANO on ETH. VM will first get NANO and when the transaction of doing it is reflected on NANO blockchain, then only it allows smart contract to hand you asset on ETH. So in short you can say its transactional. Here is module that does that
https://docs.thirm.com/MODULES/DATAMAP

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Q3 from @shihazemr

Cryptocurrencies should be convenient for everyone. What is THRIM protocol doing to make cryptocurrency investments easy for users?

Is the THRIM App already on mobile? And are smart contracts audited already?

A Singh | Thirm: THIRM has on APP. Its DAPP and its UI is so modern
that it will work fine on laptop desltop tabs and mobiles.
+ app can do lot of shady stuff in background, so people avoid the mobile apps.
You can use THIRM DAPP on trustwallet

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See the ui looks clean on mobile or desktop. Whereever you want to access thirm you can.

Danny | Crypto Revolution: Yeap. Looks perfect. Do you keep track how many people are using it?

A Singh | Thirm: No but that can be estimated using our smart contracts.

Suhail | Thirm: I would like to add, you can also use TokenPocket and Metamask app.

Danny| Crypto Revolution: TokenPocket?

Suhail | Thirm: To use the dapp of Thirm :)

A Singh | Thirm: Basically you can use any ethereum wallet, metamask, trustwallet and others. THIRM works fine everywhere

Danny| Crypto Revolution: 🦾🦾

UPTRENND QUESTION:

I am a crypto investor and I only care about prospect of a crypto that I chose, tell me the reason why I should choose your project over the existing one ? What is your coin advantage that can convince me to change from my favorite token?

A Singh | Thirm: Well we have full list:

1. THIRM only completion is REN PROJECT and it was funded by 35 million grant, see the things we have implemented right now without any funds, we already solve many issues with ren. Our current market cap is so low, even if manage to tap 1% of supply of our supported coins this project already goes 10 million 10X current valuation .

2. NANO, LTC, XMR have million in market cap, all these holders want to tap into DeFi, cause in future the decenterlised and anonymity of DEXs are going to supertake CEXs. how do these guys trade then ?? they have to use THIRM PROTOCOL

3. THIRM PROTOCOL burns supply regularly, for every deposit or withdrawal, 0.5 THIRM is burned from total supply. This makes sure that people continuously buy thirm

4. THIRM PROTOCOL is planning partnerships (when we developed all coins ) imagine THIRM and all its supported coins being added on CREAM and Curve Protocol.
and for all my short answer lovers

Danny| Crypto Revolution: Hah. Good answer 😁

A Singh | Thirm: THIRM solves lot of issues, ETH is not goin gto be only crypto blockchain for apps. BNB DOT TRON. All these blockchains are adopting and becoming smarter.

Danny| Crypto Revolution: Yeap. They are improving all the time

A Singh | Thirm: Sooner or later people will be forced to move assets between them and thirm is only project that allows it as of now.

TELEGRAM QUESTIONS

Telegram User:

What is VM ?

Suhail | Thirm: Virtual Machine

Telegram User:

Which one of these aspects important for you?
1-Increasing Token Price&Value
2-Empowering Platform Development
3-Building Community Trust
4-Expanding Partnership Globally

A Singh | Thirm: 2

Telegram User:

THIRM PROTOCOL is developed and maintained by THIRM SOLUTIONS, a company operating from INDIA & CAYMAN ISLANDS. What strategic advantages has this country brought to your project? How has this Asian country helped THIRM to penetrate the most important markets in the continent?

A Singh | Thirm: Well i am asian, so i travel a lot for work, thus a company is needed to hire professionals and make payments, allows me to seprate my personal life and bank accounts from THIRM.

Telegram User:

Do you think your system is secure enough? How safe is your system in securing funds and user data?

A Singh | Thirm: Funds are never exposed. Its distributed among various nodes [JUST LIKE ETH]. Nodes are abstract which means they don’t take any inputs from users.

Telegram User:

How many wallets that can support $Your Token until now? And do you have any plan to build your own wallet?

A Singh | Thirm: Almost all of them. Trustwallet is one i recommend.

Telegram User:

You mentioned on your site that THIRM is still is BETA and has not been audited, please test the protocol with small amounts.Does the reason that the protocol is in its testing phase cause us as investors to risk?

A Singh | Thirm: No its not you the THIRM holders at risk, its for BTC AND NANO users, they might end up creating a false transaction or something same.

Telegram User:

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

A Singh | Thirm: No, infact it doesn’t cause whover is going to use the DAPp they need THIRM tokens, and only way to get them is to buy from uniswap.

Telegram User:

Why Nano?

A Singh | Thirm: Its fast and feeless ( lot of poor countries love it and it have open source code).

Telegram User:

If I wanted to access NANO BTC LTC XMR to ethereum I will use THIS PROTOCOL to get those assets.So I asked you how much fee I would pay it.And what wallets can I use for Dapp?

A Singh | Thirm: You have to burn 0.5 THIRM for every deposit or withdrawal.

CONCLUSION

Danny| Crypto Revolution: Thanks guys. Final Words for Community please?

A Singh | Thirm: STAY SAFE, INVEST WELL, DYOR. See you all on moon !

Suhail | Thirm: Well said!

For more information and future AMAs, join our Social Media channels:

Website: https://crypto-revolution.io

Telegram group: https://t.me/crypto_revolution1

Twitter: https://twitter.com/revolut20?s=09

Our Partner:

Website:
https://thirm.com/

Docs:
https://docs.thirm.com/

CoinMarketCap : https://coinmarketcap.com/currencies/thirm-protocol
Coingecko : https://www.coingecko.com/en/coins/thirm-protocol