Raini x Satoshi Club AMA Recap from 11th of May


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 AliumFinance and our guest was @Mindspheres — co-founder project lead for Raini. The AMA took place on 11th May.

The total reward pool was 500$ and has been split into 3 parts.

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

Part 1 — introduction and questions from the Website

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

D. | Satoshi Club:
Today our guest — @Mindspheres !

Mindspheres — Dev:
Thanks for having me guys!

D. | Satoshi Club:
Hello! thank you for joining!

How are you doing today?

Mary | Satoshi Club:
Welcome here

Mindspheres — Dev:
Pretty excited — we’ve got a super busy week of news! How about yourself?

D. | Satoshi Club:
Nice, you have lots of work

im great! thank you!

Mary | Satoshi Club:
So, let’s start our AMA

Mindspheres — Dev:
Sounds good!

Mary | Satoshi Club:
Could you please introduce yourself and tell us more about Raini

Mindspheres — Dev:
Sure thing. I’m the co-founder project lead for Raini — coming from a background in non-crypto fintech with the other co-founder, we knew that we could do some really exciting things in this space.

To that end we’ve launched Raini, with which we are building an NFT-supercharged DeFi universe. At its core we’re an NFT farming platform, but we’re building on a number of key DeFi aspects to fill it out and we’re really excited about the future.

Mary | Satoshi Club:
So, how old is Raini? How did you get the idea to create this project?

Mindspheres — Dev:
The project launched back in March, and really was borne from the fact that both myself and the other co-founder, Artkin, are very much into the arts, but also run a fintech in the non-crypto space. So it seemed a logical path to combine these two passions into the Raini project — especially considering how NFTs have grown so rapidly in popularity.

Mary | Satoshi Club:
Nice story

How big is Raini team?

Mindspheres — Dev:
We’ve got a team of about 15 people working on various aspects of the platform offering, including our NFT platform + NFT Toolkit, Launchpad, Trading Card Game, Cross-chain Bridge,

Mary | Satoshi Club:
Quite a big team! Are you public or prefer to stay anon?

Mindspheres — Dev:
And we’re spread all over the world, from Australia, the US & Canada, Europe, and Asia

Mary | Satoshi Club:
International team

Mindspheres — Dev:
So right now, myself and the other founder are “anon”, however, we are actually doxxed to two KYC firms — Solidity Finance, and Assure DeFi. The reason we are anon is that we are currently divesting the fintech we run here in Australia, and want that process to be finalized before doxxing publicly

Mary | Satoshi Club:
This has sense

thanks!

And thank you for your intro! We collected 6 questions from our community for the first part of our AMA

Are you ready to answer them or you want to add something?

Mindspheres — Dev:
I’d probably just add that we’re really excited about our latest announcement, which is our cross-chain launchpad, which will be enabling new projects to launch simultaneously on Ethereum, Binance Smart Chain, and (soon) Cardano — enabled by our own RainiBridge. Anyone interested can read more about it here — https://rainicoin.medium.com/raini-officially-ready-for-liftoff-2615e91ea9ee

Mary | Satoshi Club:
And we can start

@Cool_as_Ice shoot it

Q1 from Telegram user @cryptofollower
One of the core features of Raini is Evolving NFTs. NFTs that can evolve and change over time taking input from real-world data. So are there variables on the NFT’s? Is that mean you somehow developed a revolutionary dynamic NFT’s? How did you do that and how it works? Do you have special smart contracts for NFT’s in order to get data from real world using Oracles and evolve using variables? Could you also show us an example about this?

Mindspheres — Dev:
So the NFT itself will contain hashes of all possible content linked to that NFT’s evolution — it’s something that you can actually see in practice on places like https://async.art/ What we feel is the gamechanger is that we will be giving artists the tools to create dynamic NFTs through a graphical user interface rather than needing to work with a development team to create these NFTs. The toolkit will make it easy to integrate data from external APIs and other standard real-world data, so that the appropriate content will be displayed for the evolving piece.

An example might be an NFT that shows you a different animated view based on local weather data, or a piece that “ages” as it’s transferred from wallet to wallet.

Mary | Satoshi Club:
Hm, is this, for example, like this — ‘Updates four times a day to reflect sunrise / day / sunset / night cycles’.

Mary | Satoshi Club:
https://async.art/art/master/0x89E8416eA5b69863CCb34D3A5C74A86bf5549147-1628

Mindspheres — Dev:
That’s a good example, yes

Mary | Satoshi Club:
That’s very interesting! I like such NFTs! Really something new!

Mindspheres — Dev:
So async-like functionality but made more accessible and more open, on a two-sided market.

Mary | Satoshi Club:
Thank you for your answers! Everything is clear for me! Ready to proceed?

Mindspheres — Dev:
Sounds good!

Q2 from Telegram user @kimzyemma
You said Stake $RAINI and earn RAINBOWS, stake LP tokens and earn UNICORNS. We all know that $RAINI is your main token. What is the impact of RAINBOWS and UNICORNS in your project? How can user redeem earned RAINBOWS and UNICORNS on your platform?

Mindspheres — Dev:
Rainbows and Unicorns are the primary “currencies” on the platform, and will be able to be used to redeem NFTs from our curated drops. Unicorns have a higher value, and there will be some special NFTs that can only be redeemed with Unicorns.

Users will be able to redeem “Core NFTs” from our drops, but these NFTs are actually upgradeable. Whereby if you amass a certain number of Core NFTs, you can burn them to create a Gold NFT. And if you amass enough Golds, you can burn them to create a Chromatic. There will only ever be enough copies available to create 1 Chromatic NFT per drop.

This deflationary approach will drive collectible scarcity among our drops, and we feel is a great way of gamifying the process of collecting NFTs.

Plus — Gold & Chromatic NFTs will entitle users to other benefits within the ecosystem, like guaranteed token allocations via our IDO launchpad or token airdrops.

D. | Satoshi Club:
Cool system, I like it

by the way why you decided to put unicorn on your logo? so many unicorns at the crypto space already — uni, 1inch, juld

Mindspheres — Dev:
Hahaha — we wanted something playful, and there are plenty of unicorns, but there’s only one Rainicorn!

https://esatoshi.club/wp-content/uploads/photo_2021-05-12_18-21-48.jpg

Mary | Satoshi Club:
This unicorn is mega-cool

D. | Satoshi Club:
Yep, it looks really awesome i should admit it.

Mary | Satoshi Club:
Can you give us some examples how your NFTs will look like?

Mindspheres — Dev:
Mm, we have some pieces ready, but I can’t release those until the drops.. however I can show you guys some art from those on our lineup (including one not yet announced

) One minute

Mary | Satoshi Club:
Sure, take your time!

Mindspheres — Dev:

https://esatoshi.club/wp-content/uploads/photo_2021-05-12_18-23-25-1-1024x559.jpg

https://esatoshi.club/wp-content/uploads/photo_2021-05-12_18-23-23-1.jpg

https://esatoshi.club/wp-content/uploads/photo_2021-05-12_18-23-21-1-1024x746.jpg

https://esatoshi.club/wp-content/uploads/photo_2021-05-12_18-23-25-2-1024x559.jpg

https://esatoshi.club/wp-content/uploads/photo_2021-05-12_18-23-32-1-833x1024.jpg

https://esatoshi.club/wp-content/uploads/photo_2021-05-12_18-23-30-1.jpg

https://esatoshi.club/wp-content/uploads/photo_2021-05-12_18-23-29-1.jpg

https://esatoshi.club/wp-content/uploads/photo_2021-05-12_18-23-27-1-1024x743.jpg

D. | Satoshi Club:
Awesome!

Mary | Satoshi Club:
Ahaha, i love this!

https://esatoshi.club/wp-content/uploads/photo_2021-05-12_18-23-25-3-1024x559.jpg

Mindspheres — Dev:
It’s great right haha

D. | Satoshi Club:
I like these two.

https://esatoshi.club/wp-content/uploads/photo_2021-05-12_18-30-02.jpg

Mary | Satoshi Club:
Thank you for this pleasure for our eyes!

Ready to go to the next question?

Mindspheres — Dev:
Glad you like

Mindspheres — Dev:
Let’s go!

D. | Satoshi Club:
Yeah, it looks really beautiful, you can see that people spent time making these NFTs

Q3 from Telegram user @Highpee
The recent launch of uniswap v3 has disrupted some projects activities as some are finding it hard to migrate their protocol into it. Your project is not left unaffected as you are currently facing complications establishing staking of liquidity provider tokens on Uniswap v3 and this forced you into removing your liquidity from Uniswap v3. How do you intend to solve this challenge as this has led to a disproportionate price impacts for the users of your LP pools? What immediate solutions are you offering? For how long will this continue and what effort are you making towards adapting your protocol to this new uniswap version?

Mindspheres — Dev:
Uniswap v3 has been a real debacle and caused many projects trouble. On the day of release we moved some liquidity to Uniswap v3, but this ended up diluting our liquidity. NFTs being used to replace LP tokens is a bit of a challenge — so migrating our current LP token holders over is not something we are able to do straight away.

As such, we made the decision to pull liquidity back to Uniswap V2 and have been comfortably trading since then.

I should add that we are (as of last week) a cross-chain token and also tradable on PancakeSwap. We’ve actually equalized our liquidity between Uniswap V2 and PCS, and this has been really helpful over the last couple of days where Ethereum gas spices have spiked incredibly high.

Moving forward, we are working to implement staking for Uniswap v3, and hope to have a solution in the next week or two. We’re not alone, everyone is dealing with the same challenge.

Mary | Satoshi Club:
Where is the volume for Raini bigger? On Pancakeswap or Uniswap?

Mindspheres — Dev:
Yesterday it was about equal, today looks like Uniswap wins

https://esatoshi.club/wp-content/uploads/photo_2021-05-12_18-30-50-1024x220.jpg

Needless to say, bridging to Binance has been great for our project. It’s also why we feel our Cross-chain Launchpad is a great offering.

Mary | Satoshi Club:
Eth is back

which other blockchains do you also currently support?

Mindspheres — Dev:
Binance Smart Chain + Eth

We’re looking at bridging to Cardano too when that’s possible

Mary | Satoshi Club:
Gotcha!

Thank you for your answers! Ready to jump to the next question?

Mindspheres — Dev:
Sounds good!

D. | Satoshi Club:
Do you have plans to make pools on other DEXes on BSC and Ethereum? maybe on 1inch?

Mindspheres — Dev:
Not at the moment — the main challenge is not spreading our liquidity too thin, resulting in disproportionate price impacts. Maybe as we grow bigger this can be something we look at.

D. | Satoshi Club:
Understood, thank you!

Ready for the next question?

Mindspheres — Dev:
Yup!

Q4 from Telegram user @Pratze
I’m really interested with Raini’s toolkit for creator, so I read that Raini building a toolkit special for artists to create a NFT. Can you explain more detail about this toolkit? Is it already implement on your platform? And what user possible to do with your NFT toolkit?

Mindspheres — Dev:
Right so this toolkit would be an extension of the normal NFT creation tools you’ve seen elsewhere. It would allow creators to make NFTs which evolve, integrating external world data via APIs or similar. The interface will make these sorts of pieces easy to create for people who do not have extensive technical knowledge or understanding.

The toolkit is not yet live, but will be in mid-June, after our platform launches.

Mary | Satoshi Club:
Will it be free to use it?

Mindspheres — Dev:
As with all NFT platforms, there will be a cost to mint an NFT, however there would not be an additional fee for the toolkit itself. We may initially limit the use of the toolkit to Raini holders to give it a level of exclusivity and to support our early adopters — however this is not finalised.

Mary | Satoshi Club:
Thanks! Everything is clear for me! We will wait for the updates! Ready to proceed?

Mindspheres — Dev:
Sure thing!

Q5 from Telegram user @NataliyaKil
Recently, among projects from the crypto world, it has become relevant to patronage, donations and charity to various foundations of the modern world. Someone helps animals, someone donates to funds to fight breast cancer, and someone invests in the development of gold mines. Tell me, is your project developing in any of these areas, are you doing charity work and in what area?

Mindspheres — Dev:
Yes definitely — so we have already made a significant annual commitment to the World Wildlife Fund (Australia), which gave us a Partner in Conservation status. In addition, we have “adopted” 3 animals — an Orangutan, a Koala, and a Penguin via the WWF. Plus we are making donations to Greening Australia for carbon offsets, and we have also partnered with DOVU for on-chain verified carbon offsets.

Mary | Satoshi Club:
Wow, you’re so kind

D. | Satoshi Club:
This is cool! that’s very good you are find time and funds for charity

Not many projects in crypto do such a things

Mindspheres — Dev:
Having lived through a terrible bushfire season last year in Australia — we wanted to help support the environment in whichever way we could!

Mary | Satoshi Club:
Now Koalas will sleep tight

Mindspheres — Dev:
We can hope

Mary | Satoshi Club:
And only one 6th question left from the first part of our AMA

Ready for it?

D. | Satoshi Club:
Oh yeah, I have heard about fires in Australia, 2020 was a crazy year

Mindspheres — Dev:
For sure!

D. | Satoshi Club:
Let’s go!

Q6 from Telegram user @Jonahapagu
In your recently Released Launched product “Raini Launchpad” There will be four tiers of token allocations which will be based on the amount of Raini staked…these tiers are “Koyah the Orang-utan”, “Smoothie the Koala”,”Chad the Rainicorn”, and “Rainbow.. so what are the differences between this four tiers , what is the amount of staked Raini a users needs to stake to belong to any of this tiers, and what will be the token allocations for users who belong to each of this tiers..

Mindspheres — Dev:
TBA

D. | Satoshi Club:
Secrets

Mindspheres — Dev:
In all honesty — we’re finalizing this stuff along with what entitlements Gold and Chromatic NFT holders will have with respect to the launchpad

However, we wanted to get the launchpad live in order to keep our community in the loop & better position ourselves to prospective projects who are seeking to launch IDOs.

The staking quantities will become clear as we get closer to our first batch of IDOs.

Mary | Satoshi Club:
Can you tell us which projects will be first at Raini launchpad?

Mindspheres — Dev:
No announcements on that front yet

Mary | Satoshi Club:
Got it!

Part 2 — live questions from the Telegram community

Q1 from Telegram user @KhaleesiTheCryptoLady
Where is RAINI currently listed? Any plan to list in big exchanges in the future?

Mindspheres — Dev:
We’re currently on Uniswap V2 (Ethereum) and Pancakeswap (BSC) — we’re starting to look at exchange listings off the back of our recent growth and volume. More on this soon.

Q2 from Telegram user @Jonahapagu
Recently Raini officially opened applications for The Raini Launchpad which was built to enable developers to launch new crypto projects with significant support and community reach… and will enable investors to ensure that they invest in projects that are heavily vetted and meet strict criteria… in line with this you stated that you will be highly selective in choosing only projects you believe have an excellent shot to succeed.. so what are the strict criterias that projects applying for your launchpad will have to pass through.. and for every project that makes it to your launchpad what kinds of benefits will they get from Raini Launchpad that will not be obtainable in other launchpads…

Mindspheres — Dev:
We would want to ensure that the projects we list have a solid team, a clear roadmap, and has a solid market niche. In return we bring a dedicated and passionate community who will help their project grow and support them financially at the IDO, the ability to launch on multiple chains simultaneously thanks to the RainiBridge, and we will provide advice and assistance for the launch and beyond.

Q3 from Telegram user @messilolz
How do you prevent of scam and rugged projects in your launchpad? do you have kyc requirement?

Mindspheres — Dev:
Yes, there will be a KYC + due diligence requirement for founders, and we will facilitate a liquidity lock.

Q4 from Telegram user @Mamitabella
Why would a deflationary system like this be sustainable?

Mindspheres — Dev:
Revenue from our platform will be used to buy back and burn Raini tokens, thereby keeping the deflationary tokenomics sustainable.

Q5 from Telegram user @Indomiekuy
Raini is an expansive eco system build on a NFT Farming token. I read that your NFT also have different rarities, can you describe more detail about this? How much rarities of NFT do you have? And beside for collection, is there any use for that ‘rarity’?

Mindspheres — Dev:
Yes, as discussed — rarer NFTs on our platform wil entitle users to benefits within the ecosystem, including guaranteed token allocations via our launchpad and airdrop entitlements. More on this is coming in due time.

Q6 from Telegram user @Savitasapra3
Please share the contract address?

Mindspheres — Dev:
It is 0x89E8416eA5b69863CCb34D3A5C74A86bf5549147

Q7 from Telegram user @Pirry05Universe
How do the UNICORNS points differ from the RAINBOW points and what is the use that can be given to both points?

Mindspheres — Dev:
Unicorns are worth more, and some drops will contain NFTs that can only be redeemed with unicorns

Q8 from Telegram user @vedamatrix
Is it possible to buy both of your coins Rainbows and Unicorns and where can I buy them and stake them?

Mindspheres — Dev:
We only have one token, Rainicorn $RAINI. You can buy it on Uniswap or Pancakeswap, links to both are on our website https://www.raini.io/

You can stake via https://www.raini.io/stake

Q9 from Telegram user @mobilejii
Do you have any audit conducted securing your smart contracts free from bugs and vulnerability?

Mindspheres — Dev:
Yes we do — https://solidity.finance/audits/RAINI + https://solidity.finance/audits/RainiStaking/

Q10 from Telegram user @atillayeni
When are you integrate the Cardano blockchain into your project and why is it important to integrate as it is not popular?

Mindspheres — Dev:
We feel that Cardano has great potential, and is a chain definitely worth supporting when main net goes live. They’ve been very active in Africa and we’re keen to see where they go from here.

Part 3 — Quiz Results

In the final part, we tested your knowledge in terms of Raini. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
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