CocktailBar x Satoshi Club AMA Recap from 19th of February

CocktailBar x Satoshi Club AMA Recap from 19th of February


Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from CocktailBar and our guest was Mr. Martini. The AMA took place on 19 February.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&WebSite

Mary | Satoshi Club:
Hello again Satoshi Club! We are happy to announce our AMA session with CocktailBar! Welcome to Satoshi Club

Gold Rocket | Satoshi Club:
Good evening, dear community!
We conclude our today’s AMA marathon series with CocktailBar. Today our guest is @Mr_Martini!

Mary | Satoshi Club:
@Mr_Martini welcome to Satoshi Club

Mr. Martini:
Hey guys! Thanks a lot for hosting me and the cocktailbar community today! Really excited! The most important question, how are you guys doing tonight?!

Gold Rocket | Satoshi Club:
Perfect ending for Friday, I believe

Mary | Satoshi Club:
God created Friday evening special for this AMA

Mr. Martini:
No better day to discuss about bars and cocktails , am i right?!

Mary | Satoshi Club:
Sure! Mr.Martini! Let’s start our party?

Mr. Martini:
Yes! Indeed let’s proceed !

Gold Rocket | Satoshi Club:
Well! Introduce yourself! Tell us how you came up with this brilliant idea with a Cocktailbar.

Mary | Satoshi Club:
Tell us how did you start with cocktails(crossed out)

with crypto?

Mr. Martini:
The idea was encapsulated late last year, and the main concept came during a time when we were all stuck at home, covid got us all down and we really had no where to go, so the idea of a virtual Cocktailbar just seemed to fit perfectly like a glove.. It went hand in hand with the times, and on top of all that… I just really, really like cocktails…

The vision of the Cocktailbar was always to spawn off into a virtual world with screen estate for people to enjoy different crypto games/ project…

Mary | Satoshi Club:
Yes, we all missed Cocktails in bars

Mr. Martini:
However, it quickly morphed into something bigger as we always were fans of NFTs & art (hence the beautiful art-centered website), and realised the possibilities that come with it, such as something we are really proud of called interactive NFTs (more than just a image ,video or gif, it will be full 3 dimensional, static or animated webGL augment and virtual reality, and which will also be paired with real world assets.
This is something that actually we are speaking of for the first time and we actually intended to leak this tonight.

Mary | Satoshi Club:
Oh, all sweet things in one place

Gold Rocket | Satoshi Club:
And how it became compatible with crypto?

Mr. Martini:
Yeh definitely, there’s definitely a lot we’re taking on but we feel this will be smooth sailing here on out once the Grand Opening takes place.

Mary | Satoshi Club:
Tonight is a special day for you?

Gold Rocket | Satoshi Club:
You are just a genius

Mr. Martini:
Yes, it is! It’s a special day for a lot of us at the CocktailBar, team, and community! We’ve gone through a lot together but the day is finally here

We are launching our Grand Opening tonight shortly after this AMA and I’m really happy that we were able to share a few moments before, here with you guys to give a glimpse of what’s to come further down the line

Mary | Satoshi Club:
We are happy to be a part of this day! It’s always exciting

You can do it now!!!

Mr. Martini:
While farming was a big part of the beginning roadmap of CocktailBar we saw a huge shift in the markets and while NFTs was always the plan, we never planned it a the scale we are taking on right now…

Mary | Satoshi Club:
Ohhhh… Wait! We have the first question from our community about this!

Mr. Martini:
We truly believe WEBGl formatting and Interactive NFTs are the future of the space and can confidently say we are one of the firsts to do this.

Mary | Satoshi Club:
We can start with them, btw

Mr. Martin:
Yes, sure! Ask away!

Gold Rocket | Satoshi Club:
Q1 from telegram user @ovkneze_big
I have two passions: good cocktails and NFT! You are doing great with this. Please tell me about NFT from the menu and what else tasty do you have in your plans for me)))

Mary | Satoshi Club:
Nice passions, @ovkneze_big

Mr. Martini:
Well so one thing that needs to be clarified is that mojitos aren’t NFTs but the drinks you’ll be farming will get you access to some form of NFTs, These NFTs, which in my opinion is the tastiest part, are paired with real world assets…

Mary | Satoshi Club:
Wow! How? explain, please

Mr. Martini:
MOJITOs are ERC-20 Tokens

Gold Rocket | Satoshi Club:
It’s very interesting

Mr. Martini:
You’ll be able to stake your COCs, and cocktail drinks (mojitos, etc.) to earn nontransferable tokens that can be redeemed to mint NFTs that will come with a certain pairing of real world assets… We don’t want to give too much away on what those real world assets are but let’s just say that one of our team members is a jeweler. I think that’s a good hint, isn’t it?

Now take this same model and imagine NFTs paired with real world drinking games?! That sounds pretty fun too right?!

Well, these are just some things that we have brought to production 5 months that we’ve been hard at work….

Gold Rocket | Satoshi Club:
Tell us a little about your team by the way. Who are your associates?

Mr. Martini:
Also, our website took a very long time to create, and just wanna say how proud I am of the team for accomplishing such a feat … If some of your members haven’t checked it out, I urge them to do so!

cocktailbar.finance

Mary | Satoshi Club:
Yes, it’s very creative! I feel like in old good Friday evening times

You managed to create a presence effect. And our second question actually about your team, maybe we can ask it?

Mr. Martini:
Our team members consist of a seasoned jeweler/3D rendering and modeling, an on-site, hard at work dev that has lost many sleepless nights thanks to my indecisiveness to help me get this the way i envisioned it, and a very skilled graphic designer who’s helped me build such a fantastic environment for the location of our bar.
Yes feel free to ask, it’s an AMA after all

Gold Rocket | Satoshi Club:
Q2 from Telegram user @borysfireball
Drunk people often do nonsense. We are already a little intoxicated by recent FOMO and here you come. Do you pour at any age, is there a limit from 21? Do you have a license for alcoholic beverages and who will be responsible if something goes wrong? Will we ever see the real faces of the bartenders and the director of CocktailBar?

Mr. Martini:
Well well, I don’t think it’s encouraged for underage aping ;)….
We have a license in the form of a security audit (by solidity.finance ) that should make it safe enough for us to serve our cocktails to the good people at the bar!

And yes regarding our identities, as we mentioned with the pairing of the real world assets, with real world physical goods comes shipping and with shipping comes addresses.. There will definitely be a form of kyc going forward when dealing with such assets and distributing it to the people who redeem them.

And who knows, I may get really drunk one day and decide to do the zoom call with the whole community! With Alcohol, anything is possible!

Mary | Satoshi Club:
Deal

don’t forget to invite us to this party

Can you give us a link to your security audit?

Mr. Martini:
Sure, one moment.
https://solidity.finance/audits/Cocktailbar/

Mary | Satoshi Club:
Thank you for sharing

Mr. Martini:
The audit was done for all the tokens in our “cocktailBar ecosystem” COC, PEANUTS and MOJITOs.. as well as the staking contracts that will be deployed tonight!

Gold Rocket | Satoshi Club:
Q3 from Telegram user @Korryl
I read from your Twitter, your token PEANUT already burned for 11.85% from the original supply, may I know how is your burn system work, what is trigger the token burn? And I see you still have another token like MOJITO, etc. Do they have the same burn system as PEANUT?

Mr. Martini:
Ok so PEANUTS is an ERC-20 deflationary token that started at a total supply of 2,500 … and with every transaction we implemented a TESTA WASTE fee (burn fee) of 5%, reducing the supply of peanuts only until there is 100 left.

MOJITO does NOT have a burning fee, but it does have a spillage rate of 1%, this dribbles down into a happy hour pot which creates a passive dividend farm that will be active long after the MOJITO farm is tapped out (MOJITOs will be farmed for 2 months only, at which point all 5,000 MOJITOs would have been farmed).

Mary | Satoshi Club:
Interesting system. You created a lot of opportunities for your users. Do you personally prefer MOJITO or PEANUTS more?

Mr. Martini:
Yes indeed, the idea was to create something as expansive as my imagination while not reaching too much for stars and still staying grounded. Well, that’s like asking a mother if she prefers her older or younger child isn’t it?

Mary | Satoshi Club:
Right

Thanks for your answers! Ready to jump to the next question?

Mr. Martini:
But in all honesty who doesn’t want to enjoy some peanuts with their cocktails?!
Yes indeed!

Gold Rocket | Satoshi Club:
Q4 from Telegram user @Pratze
I read your medium that you have an interesting system name “Russian Roullete”, can you introduce to us what kind of system is this? Is it like a gambling game where we possible to win and lose?

Mary | Satoshi Club:
Russian Roulette after cocktails?

Mr. Martini:
Yeh, I’m nuts I know. So Russian roulette is was thought up with the idea in mind that you’d compete against another person’s stake.. a high-risk, high reward game that always produces one winner, and one loser.

Mary | Satoshi Club:
Dangerous game for the riskiest

Do your users enjoy this idea?

Mr. Martini:
They love the concept of where we’re heading but I’ll be honest that a lot of the stuff I’m sharing tonight may also be a first for them to hear (webgl, interactive NFTs, etc.).

Mary | Satoshi Club:
I think they follow this AMA with a big interest

Gold Rocket | Satoshi Club:
Q5 from Telegram user @Highpee
You have now added a new Fine Implementation from staking (1% as fee) and unstacking (2% as a fee) activities. Why do we have to pay more to remove our cocktails from the bar pool and what will these fines be utilized for within the bar? In addition, staking for MOJITOS will create a secondary reward pot which you have described as the HAPPY HOUR POT and a user must be available at the hour of claim if not, the reward will be missed. How do you determine the HAPPY HOUR time and how will you communicate it to users in order not to miss the sweetness from this POT?

Mr. Martini:
But yeh, we’ve been seeing a lot of new holders coming on board, i think we’ve increased in a few days by 100! … from having almost 0 volume in trades to now being up a bit over 500% in a week.. I think they do love what we’re doing!

Mary | Satoshi Club:
Yes, I saw your charts

Mr. Martini:
Excellent question! so first, let’s talk about Bar fines! So for our MOJITO pools, we’ve implemented a bar fine, as you stated, 1% stake, and 2% unstake.

The reason for this and the reason for a higher unstake is to incentivize people to keep staking, what this bar fine goes to? It locks the % fee forever in the contract, gradually increasing the price floor as more people stake their LP tokens…

Furthermore, when staking COC. It pretty much turns COC deflationary as each % fee of COC also gets locked forever. Decreasing the supply as more people stake.

Mary | Satoshi Club:
Don’t you think that current ETH fees enough to incentivize people to stake?

Mr. Martini:
Yeh ETH fees have been pretty horrendous, unfortunately!

Mary | Satoshi Club:
With an additional 2%,

this CoctailBar is only for whales now, but i hope the situation will change.

Mr. Martini:
Well, you’re staking to earn a secondary token so hopefully the MOJITOs you earn to compensate for the % fee paid for Bar fine

Gold Rocket | Satoshi Club:
Q6 from Telegram user @JuanSB07
What are Cocktailbar’s plans in a few months or years? What are the goals and objectives of this project? Are you planning to put a roadmap on your website?

Mr. Martini:
Well to come what we are focusing heavily on is the launch of our Real-world Asset paired interactive NFTs (More than your usual JPG/GIF formatted files), which’s currently one of our top priorities, we feel 2021 really is the year NFTs take center stage in more mainstream markets.
We have a brief outline of the roadmap for the year to come on our medium article here!

Mary | Satoshi Club:
Yes! It will be really unusual launch!
Thanks! We will definitely read it!
And the first part of our party is finishing

@Mr_Martini are you ready for the part of the live question?

Mr. Martin:
Born ready!

Mary | Satoshi Club:
Let’s go

Part 2 — live questions from the Telegram community

Q1 from Telegram user @ Johnny

Hello Mr. Martini

$COC will be used to grow the Cocktailbar ecosystem and it can be staked to get additional tokens from other cocktail menus. From my counting, you have $MOJITO, $RUSSIAN, $MAITAI, and you recently added a fourth which is $PEANUT. All these tokens have a limited caps, but the list keeps increasing. Why do you choose this token model? Are we to expect more drinks as you prepare more menus for the bar?
@Mr_Martini

Mr. Martini:
So for the foreseeable future, we’re going to be focusing on the ecosystem at hand and the cocktails that are still to be launched that were promised, and looking to grow these and incorporate them in more ways than one as we continue to go forward … The menu will continue increasing in terms of activities and what you can do (such as staking to earn non-transaarrable tokens for NFTs etc.).

Q2 from Telegram user @ Pokemon

How can I become a liquidity provider and earn from the CocktailBars growing ecosystem, any detailed guide? @Mr_Martini

Mr. Martini:
Yes! There’s a brief explainer in this medium article below!

https://cocktailbar20.medium.com/the-cocktailbar-5a4df6062937

Q3 from Telegram user @ Johnny

Hello Mr. Martini

If we stake into the MOJITOS pool, how is the HAPPY HOUR time to claim determined and how will you communicate this to users so as not to miss out on the HAPPY HOUR reward pot?
@Mr_Martini

Mr. Martini:
So the happy hour sign will always light up for 4 hours per day (in which time rewards will be claimable )
Next to the glowing happy hour sign, there will also be constant communication within all social media accounts to let people know that the happy hour is on (once token contracts are deployed we’ll be able to communicate better when this will be ) ~ 20 hours after contract deployment will see the first Happy Hour take place.

Q4 from Telegram user @ Boylut

In the part of the discussions above, you said you guys believe WEBGl formatting and Interactive NFTs are the future of the space, this is the first time I would be hearing about it, can you briefly explain what WEBGI formating is and how it can benefit the crypto space at large? @Mr_Martini

Mr. Martini:
Excellent question!

WebGL (Short for Web Graphics Library) is a JavaScript API for rendering interactive 2D and 3D graphics within any compatible web browser without the use of plug-ins. WebGL elements can be mixed with other HTML elements and composited with other parts of the page or page background.

Webgl format uses 3d models that u can zoom in rotate and interact with… and compatible with AR and VR. We are building our own engine to support webgl (Think variable but WEBGL).

Q5 from Telegram user @ Salisu abubakar Saeed

In which exchanges can i buy cocktails for now.

Mr. Martini:
You can buy cocktailbar fand PEANUTS from Uniswap only for now! ($COC
https://uniswap.info/pair/0x39FB7AF42ef12D92A0d577ca44cd54a0f24c4915)$PEANUTS (https://app.uniswap.org/#/swap?outputCurrency=0x9f41da75ab2b8c6f0dcef7173c4bf66bd4f6b36a !

Q6 from Telegram user @ Nguyenthanh

Usually, a project only have 1 or 2 main tokens and the use is for governance token and the other is for DEFI ecosystem like a stake, farm, trading and etc. But CocktailBar has 4+ type of token can you explain the main reason create so much token? Don’t you afraid people will judge cocktailbar project is not focus and give an impact on all your token price?

Mr. Martini:
Well, the idea with the Menu of drinks and multiple tokens all with different token mechanics was to give our users at the bar options, just like most bars, and with every option comes new ways people can benefit, earn and take part in the ecosystem… We don’t plan on launching one coin and forgetting about the others… Every token will have its use, but every token will also complement each other somehow… For now, all tokens can be used to earn MOJITOs

Q7 from Telegram user @ Vmoon

What types of games does Cocktail Bar offer?

Mr. Martini:
None for now but using a stake to earn model users will soon be able to challenge each other through Russian Roulette! But as stated for now there are no games YET at the bar! But hang tight!

Q8 from Telegram user @ ᒍᑌᗩᑎ ᔕᗩᑎᗪOᐯᗩᒪ

Why did you decide to place a game theme on your website where you can explore some features of the project? Is it really a good way to publicize your project?

Mr. Martini:
Yeh I really wanted to create something expandable and I feel a virtual world, or virtual city if you will, fits perfectly with what my vision was… Huge fan of cyberpunk vibes and visualization as well as a lifelong video game enthusiast, I felt incorporating this model into an ever-growing ecosystem that would create a story in and of itself was super interesting… We could have a new store moving in next door tomorrow! Who knows!

Q9 from Telegram user @ Apocan

Can you provide some information about “Just-A-Tip”, how does it work?

Mr. Martini:
Just the Tip is a new way for people to send and receive tips in the form of drinks! The plan was for this to be a MOJITO only application but since I’ve decided it would make more sense to incorporate all the drinks at the bar with it… Like i just said, it’s good to have some variety

Q10 from Telegram user @ Berta

Do you have plans to migrate to a blockchain with lower fee costs like BSC?

Mr. Martini:
Yes recently this has been a huge talking point amongst some of our longer holders and we do agree that the current gas fee prices are a bit of a shame and do turn a lot of people away, we are actively looking into solutions to resolve this problem for our users however we’ve had limited time this past few months getting everything up and running.

Part 3 — Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

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

English Telegram group: https://t.me/Satoshi_club/
Russian Telegram group: https://t.me/satoshi_club_ru/
Spanish Telegram group: https://t.me/satoshi_club_spanish/
Telegram Channel: https://t.me/satoshi_club_channel/
Twitter: https://twitter.com/realsatoshiclub/
Website: https://esatoshi.club/

Our partners:
Telegram Community — https://t.me/cocktailbar_discussion
Twitter — https://twitter.com/CocktailbarCOC

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