This maybe a long read however, there are some exciting details around what we’re building, the team and what our future plans look like for PhoenixDAO. Exciting times!
Anna: Hi Clement, Monte, Marco and Mark great to have all of you as our guests for today’s AMA! We have collected 8 frequently asked questions from twitter. Without another word, let’s get started!
To begin with, can you give us a quick intro about Phoenix DAO and its cooperation with Numio.
Mark: Hello! My name is Mark Anstead. I run all of the bizdev/sales over at Numio. I help a little with product management with Marco & Tim (our CTO), and lead the sales that we are working on with our products.
Clement: My name is Clement Hugbo and professionally, I am a product designer and developer. As a core team member for PhoenixDAO, I am the director of Product Design and Marketing. I lead the design and marketing strategy for the foundation.
Monte: I’m Monte Thomas. As a Founding team member and the Partnership(s) Director for PhoenixDAO, I am saddled with the responsibility of initiating conversations and expanding partnership with other projects around the globe who may be individual developers, dev shops, and/ government or private blockchain organisations who would like to build different kinds of products on our protocols (which are mainly targeted at decentralised digital identity management, security, payment, tokenisation, and authentication). I also handle the legal paper works for PhoenixDAO Foundation.
Marco: Hello CoinEx Community! I’m the CEO at Numio and have been working primarily on product management and research/development of our products for the past 18 months. We have always sought to incorporate the best technologies on the market, along with our proprietary tech into both Numio Pay and Numio Vault. This is why we have partnered with the PhoenixDAO team using their Identity and Authentication protocols in both Pay and Vault.
Numio Pay is a mobile app featuring identity management, blockchain based 2FA, and digital payments both peer to peer as well as paying for items at merchant locations. Numio Vault is an advanced crypto storage solution featuring private keyless security and blockchain based 2FA not present in other decentralized solutions.
These products are the missing links into reaching unbanked merchants and unbanked consumers in many areas around the world. With both of our products being released in July we are very excited about what this summer and the future holds!
Clement: To answer this question, here is what PhoenixDAO aims to achieve.
The core of PhoenixDAO is a decentralised identity-driven financial ecosystem, we enable small-medium enterprises and institutions alike the ability to build on the PhoenixDAO protocols meaning they can deliver solutions quick-to-market.
Anna: Fantastic! Thanks for the intro! Now let’s get to the first question:
- What is the uniqueness of PhoenixDAO that cannot be found in other project that´s been released so far ? What influence do we have in the crypto industry?
Monte: Excellent question here. I ‘ll attempt to explain this with some points. Whilst “uniqueness” can come in many forms our team believes that our uniqueness stems from the founding team’s journey, relationship and vision. Having all been involved in the Crypto/Blockchain space for a number of years we have all learnt many lessons, these have been carefully considered allowing us to build PhoenixDAO for the people, and most importantly, by the people. The term decentralised is thrown around the space A LOT but we believe that we are going to be one of the first DAO projects to strike the right balance of sustainable decentralisation.
A noteworthy addition will be, PhoenixDAO enables for an open framework for governance, development, and
participation, powered by the PHNX token and protocols revolving around Identity, Authentication, Payments, Storage, & Tokenisation. This is something hardly found in the space
Anna: 2. I see the Phoenix project including “DAO”, is this related to the DAO maker system? If so, how and what are the benefits of PHNX DAO over other projects?
Clement: Actually no, PhoenixDAO are right now building a DAO web platform that allows the community to influence and make decisions for PhoenixDAO using a proposal and voting model.
Amazingly, it would interest you that we are absolutely done with 100% of the front end and currently now working on the back-end and this has been done in less than two months already. Here is a sample of the dashboard.
Anna: 3.What are all the future plans for PHNXcoins?
Monte: As mentioned by Clement, we are already ahead because the PHNX protocols are built and are being utilised. We will be announcing full details soon on the PHNX dApp store, PHNX event market place dApp and much more. As part of our relationship with Numio they are adding huge utility for PHNX through the Numio Vault and Numio Pay which are both built on the PHNX protocols and will include the PHNX token as a core feature. Feel free to take a further look at the products (Numio). We might not be supposed to tell you this, but we got a hint that the community testing for the products is well underway.
Anna: 4. Adoption is one of the important factor that all sustainable blockchain projects should focus to be more attractive in the investors’ eyes. What PhoenixDAO has done and plans to do to achieve real world adoption? What is the real world problem and cryptocurrency issues that you are solving?
Clement: There’s different forms of adoption whether it’s around the development of the protocol layer (like Ethereum and its’ network) or the application layer, which is where the most adoption occurs from users. This is why we have built some underlying tech, and then created some awesome products to go with it- take the open source dApp Store, which connects developers to users or customers, as well as products like the events marketplace for interacting with events and groups online (similar to ticketmaster or meetup). This is also why our team has partnered with organizations like Numio. We see all of these products helping to bring the next million users into the PhoenixDAO ecosystem
Mark: On the Numio front (as a reminder we are one of the partners for PhoenixDAO) when it comes to real world problems we are looking to solve, we have been building out the infrastructure to help bridge unbanked individuals and merchants to gain access to legitimate financial tools and systems. We’re first targeting the cannabis market here in the United States, and then launching into Nigeria.
We’re not building solutions that are seen to be “alternatives” for these people, but the ability to offer better solutions than they can currently receive.
Anna: 5. Why did you decide to choose CoinEx exchange to list PHNX?
Monte: To answer your question. specifically, we want to bring the PHNX token to every Country across the world, as many of you may know we launched in partnership with Bittrex Global; however, their reach only goes so far, we believe CoinEx helps bridge the gap. Among other pecks are the very user-friendly UI/UX of the platform and fair playing ground it offers for growing projects like PhoenixDAO. Won’t forget to mention that you have a great community. So why not make the PHNX available to them?
Anna: 6. On moving forward through your roadmap, what are your most important next priorities? Does PhoenixDAO team have enough fundamental (Funds, Community, etc. ) to achieve those milestones?
Clement: Deploying the DAO for voting, releasing our flagship dApp into the wild, deploying v2 of dApp store, events dApp, and getting partnerships signed for more companies like Numio to use PhoenixDAO protocols are part of our top priorities at the moment as we want to ensure the community actually starts getting fully involved with what we are doing than they are at the moment.
So much but not all can be let out of the pack now. While we do all these, our watchword remains, simplifying blockchain products to make adoption very easy for the new and old users.
Finally to add.
We already have circa 30 devs in our developers pool.
Ambassadors — circa 50 applicants. We will be assessing a number of factors and then looking to on-board new Country ambassadors. This will help serve different regions. If you are looking to work with us as an ambassador, you can always reach out to us.
We are also working to get our growth hacking squad in place (circa 50 applicants) to help get the news out there. So yeah, quite a lot has been done.
Anna: 7. DeFi is the new frontier and projected to buzz up in 2020 so what’s your approach to DeFi and what roles does you play in inattentiveness of DeFi.
Mark: I’ll be happy to jump in here. I absolutely love defi and what we’re building around it at Numio. I can help talk a little around what is going on at PHNX, but if I miss anything, Clement and Monte can hop in and fill in some answers :)
With regards to PhoenixDAO & PHNX, the PHNX token is used as governance within the ecosystem. So it enables individuals, businesses, and enterprises to create proposals and vote on decision making around PhoenixDAO. Most projects have been focused on derivatives, lending, DEXs, payments, and assets with DeFi, though there are a ton of ways to be involved in the DeFi space. There has been some awesome development around payments within the phoenix ecosystem and how you can utilize the smart contracts for interactions on Ethereum. One of the key underlying functionalities you can have with PHNX is the ability for meta-transactions through ERC-1484, and using 3rd party relayers for P2P payments on apps, dApps, or powering APIs.
PHNX will be used to power the governance over the ecosystem, most notably, through product layers like the dApp Store (a marketplace), which sits natively on top of the Web3. This is a solution that connects dApp developers, or even for people minting NFTs, with customers, and end users.
Anna: 8. Partnership and community are the key to the success of projects, can you tell me how PhoenixDAO will expand the partnership and which markets will PhoenixDAO focus on?
Mark: Our team at Numio has been working with the founders at PhoenixDAO & we’re focused on building out the application layer on blockchain through our products like Numio Pay & Numio Vault. DeFi, and blockchain as a whole, is just a whole bunch of Lego pieces coming together to create an awesome ecosystem! We’re excited to be a part of it and bring these types of solutions to more people around the globe
Monte: Nice question. When you touch on community, the prowess around a community is the success of any project. We are a community-driven project and started literally from coming together as a community to create PhoenixDAO. Being community members, we knew, and know fully well how important it is to have a strong community behind everything that we are building- we would be nothing without them. We are doing all to expand our tentacles. You may have seen we announced some ambassadors recently. It’s still open. If you want to work with us, here’s the application link
Around partnerships, while we are still young and more of a so-called “centralized” project in terms of governance, we can’t really touch on any of them until they have been announced. Once we have the DAO running, we will be able to have more open conversations around these things because it will not require any actual legal agreements :). That’s the beauty of a true DAO!
Q. What is Numio’s role in PhoenixDAO’s development?
Mark: Sure, I can answer that.
At Numio, we have been focused on building out our 2 core products, Numio Pay & Numio Vault. We recently partnered with PhoenixDAO, which will bring utility to the PHNX token through our application layer.
Q. Not too many blockchain projects survived. (PhoenixDAO team never stopped as i know) What keeps you moving forward after the previous project(Hydro)? If we talk about specific tasks and goals, what do you want to achieve with PhoenixDAO?
Monte: Basically, a self-sustaining ecosystem powered by the DAO, where all involved have a say in what happens and what doesn’t. People we want to serve are majorly in the unbanked areas of the world. This will be possible through the variety of products that are being built on our suite of protocols
Q. How Can You Introduce 5 Flagship dApps And What Includes 5 Flagship dApps That PHNX DAO Provides?
Monte: Among others, we have an event dApp that is almost ready to fly out the window. Suffice to mention that some of the flagship dApp will be determined by the community once the DAO is ready. So if for example, if you want a Facebook type of App, you can make a proposal, vote and if it passes it’ll be built.
FYI: Participating in the DAO comes with rewards.
I get asked a question that looks similar always.
Can your dApps really compete with existing centralized applications? So far, the application of dApp has been quite slow. How does PhoenixDAO plan to use the mainstream?
My answer is an emphatic yes. It’s an open playground. If you provide real value and solve someone’s problem, you get noticed.
Most people really don’t care to use dApps because there’s a lot of new things that they need to understand. Most notably, MetaMask. This is a big issue when it comes to adoption with products! When building out products and applications, you need to have a base protocol and, even an application layer (in some cases) that is completely web3 native. As you look to build out those products more, you can create more usability where you remove the need for MetaMask entirely, and it’s just a web-app product. This makes the user experience much more friendly. This is actually part of the roadmap for development on the v.2 of the dApp Store, and even the events marketplace. It makes it easier for the user experience and on-boarding new customers.
Marco: I’m personally most excited about the Events dApp they have already built (currently on rinkeby) which will allow you to list any type of crypto/music/sporting/live events and collect payments in crypto.
Q. Could you please shed more light on security side of $PHNX ecosystem? How secure is the $PHNX structure? What measures have been taken?
Clement: With respect to security, we have several security infrastructures in place to integrate with the Phoenix applications, 2FA, email authentication, face and finger prints. As we build and get more news for the community, we will disclose many of these information. But be rest assured that security is top priority for us.
Q. Currently attracting real users and mass Adoption is a problem for Blockchain projects. So how will $PHNX solve this problem?
Marco: Numio will be helping out here because as we all remember a TON of projects in 2016–2018 were talking about servicing the unbanked, however they were just tokens selling white paper dreams for ICO sales. The PHNX team never held an ICO and instead partnered with us because we are building the infrastructure needed to actually reach the unbanked.
You can’t create mass adoption with white papers, so instead we built out a mobile consumer app for making payments at merchants, an identity management component using Phoenix Identity protocol to allow for the unbanked to build credit, a Vault application for merchants to accept these payments from consumers, and we are also adding an ATM component so the unbanked can be on-boarded depositing paychecks or cash to fund their accounts.
We will be working with the PHNX team as well as a banking partner in Nigeria to bring the first Nigerian Naira based stable coin to the region to service the millions of unbanked in that region using both our Numio Pay and Numio Vault products.
The US Cannabis market is a $17bil industry of which most of the dispensaries are unbanked do to US regulations. This is another massive potential market for our products and we are already in talks with stores to allow them to accept both debit and credit cards through Numio Pay and Numio Vault.
Q. What is the use case of PHNX token ? Why should i hold PHNX token but not other tokens?
Marco: Use case is incredibly important and not very well thought out or successfully implemented in most projects. To learn more about how Numio is helping to bring real world utility to the PHNX token please check this article:
Anna: That brings us to the end of today’s AMA. Thank you all for being here tonight and special thanks to Clement, Monte, Marco and Mark for being our guests.
Monte: I enjoyed my time with the community. Great questions there. If your question was not answered, just know it’s due to time constraints. Don’t hesitate to stop by our Telegram group or any of our social handle to ask. We’ll be there to answer.
- PhoenixDAO official website
- BitcoinTalk Forum