ShuttleOne x Satoshi CLUB AMA Session 27 Dec 2020

ShuttleOne x Satoshi CLUB AMA Session 27 Dec 2020



PART 1. Introduction of ShuttleOne project and community questions.

Hello, Satoshi clubbers and guests of this site. This time we are hosting a project that provides seamless access to credit and efficient cross-border transactions, cross-border transfers for our users and partners from ASEAN to the world, G2B organizations to facilitate the financing of global trade, and much more.
 Shuttleone builds digital currency infrastructure on the blockchain that delivers seamless financial services in an age of programmable money.

The plan of AMA session:

  1. Part — Introduction and preselected questions.
  2. Part — Live questions
  3. The Quiz about ShuttleOne

The reward pool is 500$

Leading the AMA our clever and fun admins:

Gold Rocket | Satoshi Club — @GoldRocket27 and D. | Satoshi Club — @Cool_as_Ice

The Representative of the project:

Zhuang — @Zhuangg535 — Steering the shuttle

Introduction of ShuttleOne project.

https://play.vidyard.com/4Wx9QDUCdFnp7obmT4keiw.jpg

 

Gold Rocket | Satoshi Club:

Hello, dear Satoshi Clubbers!

We are pleased to announce our AMA with ShuttleOne.

D| Satoshi Club:

Hi everyone!

Gold Rocket | Satoshi Club:

How is your Christmas going?

Gold Rocket | Satoshi Club:

@Zhuang g535 welcome to Satoshi Club

Zhuang:

Thank you!! A pleasure to be here.

D| Satoshi Club:

Welcome!

Zhuang:

Thanks for having me

Gold Rocket | Satoshi Club:

Please tell us a little about yourself! how did you get into the crypto industry?

Zhuang:

Happy to….! My friends call me Zhuang, I am based in Singapore…. I’ve been involved in crypto since sometime in 2017, and have been full time in this for the past 4 years now…

Gold Rocket | Satoshi Club:

And about ShuttleOne. What is it?

Zhuang:

Prior to that, I was doing another type of farming…in agriculture, and prior to being a farmer, I was in investment banking.

ShuttleOne is a blockchain project that we’ve been building for the past 2 years by now, it basically Defi for the real world where we tokenize assets and against those assets underwrite loans for various assets such as food commodities, energy commodities, and other real-world assets.

D| Satoshi Club:

Awesome!

Zhuang:

Thank you!

Gold Rocket | Satoshi Club:

Thank you! share immediately useful links about the project @Zhuang g535

You guys may find a one-stop-shop of information here:

https://shuttleone.gitbook.io/step-by-step-guide-to-the-shuttleone-network/

Since we’ve been around for the past 2 years, our products can be found here, where we are paying out one of the highest and most stable APY% in the crypto space here:

www.shuttleone.io/mainnet

For a full list of our products you may go to:

https://www.shuttleone.io/product.php

You may check out our list of products here too

Liquidity Mining

https://www.shuttleone.io/mainnet/

Demo of Our Enterprise Product

 

Basically, we have been serving institutions and more specifically government 2 business (G2B) institutions here in South East Asia…

So this current BTC wave. HaHa i can safely say institutions are already in.

Gold Rocket | Satoshi Club:

Sounds good!

Thanks for sharing

Zhuang:

Thank you my pleasure.

Gold Rocket | Satoshi Club:

Thanks for the introduction, we will have a question selected for Part 1. ready to start?

Zhuang:

Yes, let’s go!

Preselected questions about the ShuttleOne DeFi project.

 

Gold Rocket | Satoshi Club:

Q1 from Telegram user @Arisabela

Shuttle one is especially concern about money laundering and terrorism financing, maybe it’s the reason you have built your technology under the premise: “Private but not secret”. What innovative tools does Shuttle One have to protect its user’s data?

Gold Rocket | Satoshi Club:

Um … interesting question

Zhuang:

To fully address this question. I would like to say that ShuttleOne is currently under the application for the licensing regime here in Singapore, under the Monetary Authority of Singapore. That’s why we are especially concerned about money laundering + CTF (counter-terror financing). However, on the flip side, we are very concerned about users’ private data and information. At the same time, the nature of openness that public blockchains bring, for the past over 2 years, we have pioneered and beta tested a mobile wallet (which is currently decommissioned for further upgrades) but you folks may find it in the Apple and Google app stores under ShuttleOne Wallet. What we do is using the digital identities of the users that we serve, we hash it into an NFT (we call it now the Risk Assessment Token) and we represent the identity data of these users that we serve using this NFT. At the same time, their private data isn’t stored by us, only the representation — there for private but not secret.

Gold Rocket | Satoshi Club:

Can you demonstrate this?

Zhuang:

Sure.

Zhuang:

https://etherscan.io/token/0x8be308b0a4cb6753783e078cf12e4a236c11a85a?a=3723

If you folks look at this eth transaction…under the RAT u will find this token ID to be 3723

Btw this was a loan that was taken from the ShuttleOne Network today.

Gold Rocket | Satoshi Club:

Yes! It’s looking good

Zhuang:

Shuttle One token detail - Postimages
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If we cross-check it against the database that we’ve built. You will see all the information that is needed that comes from this NFT. Underwriting this would be the digital identity of the user taking a loan + the loan details and here are the details of the trade finance that was taken.

Shuttle One token detail 2 - Postimages
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Watch $SZO Burnnnn

Trade Financing disbursed by the ShuttleOne Network for US$3,500.00 in support of a Food Trader importing food commodities from Europe!

So in this RAT token, which is basically an NFT, it represents not only the identity (which we are able to verify back with our partners), it also showcases the assets that are under tokenization and the loan (lien) details on it. This is how we deal with “private but not secret” since the loan is public, but yet ID remains private. NFTs are very powerful tools in enterprise DeFi of course powerful too for art haha.

We’ve been one of the few in Asia utilizing NFTs for financial services..

Gold Rocket | Satoshi Club:

I see you are at the peak of crypto trends

Zhuang:

HaHaHa, we are not. We are just nerds…trying to create useful products in the financial services industry.

D| Satoshi Club:

This is cool! some people suggest that NFT would be the next big thing in crypto

Zhuang:

Transform finance they say right? Yes!

Gold Rocket | Satoshi Club:

Thanks for such a great answer!

Zhuang:

Gold Rocket | Satoshi Club:

Ready to move on?

Zhuang:

Yes sir!

D| Satoshi Club:

Q2 from Telegram user @NataliyaKil

Your Shuttle Wallet app is available on the App Store and Google Play. But after several attempts, I still could not enter it. Are there any difficulties with the application on a mobile device, or is it not fully functional yet?

Zhuang:

This question comes from a very sharp user. ShuttleOne has always prided ourselves as product creators. The wallet was something that we’ve created in 2019 actually as an MVP for the remittance industry. It didn’t gain too much traction, to be honest. At its height we were facilitating only about 1mil of remittance a month, it was a super tough business. Therefore sometime in April this year, we decided to deprioritize it and focused on DeFi for trade financing and lending and borrowing. The infrastructure of the wallet has therefore been slowed down at this stage as we focused on our partners and eventually it became the wallet in the enterprise partners that we serve here’s an example:

Shuttle One wallet - Postimages
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As for the mobile app, we are going to revive it in 2021 Q2 to connect to these enterprise users so that they are able to interact with our systems on the go! So unfortunately it is still a work in progress. To be clear on Calista Finance is owned by a Singapore government-linked company and serves global logistics networks. ShuttleOne was asked to license our Defi tech to them this year and we started to build the lending/borrowing modules into the government systems.

D| Satoshi Club:

Got it! so Calista is your partner?

Gold Rocket | Satoshi Club:

Fine! thanks for the answer! you are great fellows! tell us a little about your team.

Zhuang:

Develop calista - Postimages
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PSA and GeTS team up to develop CALISTA

 

This is Calista

I can’t shill government connections. hope the community makes their own minds haha. We have a pretty lean team… (helped a lot in covid19) it is only 3 of us, but we believe that lean teams can create huge impacts in products and execution…so it’s a bit different from the typical crypto project of more than 5 sometimes even 10 pax per project.

In terms of caliber, my CTO Samret W. and Lead Developer Ekkrach P. were both game developers, they developed games for Sony Playstation and XboX and was Thailand’s first licensed PS and Xbox game developers outside of the US and Japan. That has been their experience for almost 20 years since their early teens and switched to blockchain development sometime in 2018 (when I asked them to join ShuttleOne. So if you know game developers — they are legit full stake devs…I am lucky to call them teammates.

Gold Rocket | Satoshi Club:

Yes, covid ruined plans for many of us in 2020

Zhuang:

HaHa it’s a shit show for sure. But not for BTC? When BTC $41,549? HaHaHa.

D| Satoshi Club:

Soon

Gold Rocket | Satoshi Club:

BTC to the moon

Zhuang:

In fact, it hasn’t been a shitshow for us also. Our business and transactions rocketed quite a lot during the pandemic merchants and small businesses (especially online ones) are turning to digital finance more. We’ve had e-commerce merchants who can’t get a loan from the bank for all sorts of reasons turning to crypto borrowing and i am happy to say we’ve served some 3000+ of them here in South East Asia this year. In the span of 7 short months..

Watch $SZO Burnnnn

Trade Financing disbursed by the ShuttleOne Network for US$16,222.00 in support of an Events Production Company importing Advertising Frames from South East Asia!

This is a typical example.

Gold Rocket | Satoshi Club:

Wow! Sounds good

You got lemon and made lemonade

HaHaHa….well we needed the support of these merchats too..typically these merchants have these characteristics:

Zhuang:

  1. They do not have a relationship with the bank
  2. their credit health isn’t that great
  3. their borrowing quantum is very small as u may see and therefore no profits for the banks…

So it is this segment of business that we target…and it is great business we are able to consistently payout to our liquidity suppliers in the ShuttleOne Network 10% APY (that doesnt flucuate) over the past 6 months now. Likely the system will be increasing the payout soon sometime in January — on your stablecoins. Meaning if you supply $10,000, the ShuttleOne Network pays you 10% APY on $10,000 over a year’s period.

Gold Rocket | Satoshi Club:

By the way, how do you feel about KYC? Do your users need to pass KYC?

Zhuang:

Should be one of the highest stablecoin payouts in the industry. For our liquidity suppliers no — they do not need to KYC…it is as DeFi as DeFi gets.

D| Satoshi Club:

Good deal

Zhuang:

However on the supplying end — we do scan the wallets and the coins that comes into our systems. If the coins are found to be blacklisted, or wallets that are shody we will inform the user and not accept the stabelcoins. That is important for our licensing application in Singapore. In terms of the borrowing end. Definitely we go through the same stringent checks that FATF requires to ensure that the funds borrowed and interacted by these users are of good integrity (and for us to legally chase them if they default). So it is fairly simple to supply liquidity.

https://shuttleone.gitbook.io/step-by-step-guide-to-the-shuttleone-network/guides/supplying-liquidity-into-shuttleone.network

You folks may read up more on how its done here.

Gold Rocket | Satoshi Club:

Thank you! Great answer!

Zhuang:

Thank you!

Gold Rocket | Satoshi Club:

Can we proceed. Or you want to add something?

Zhuang:

Yes lets continue..

D| Satoshi Club:

Q3 from Telegram user @apocan99

While handling and managing one token is a very serious job, you have 3 different tokens: RAT, CAT, SZO. Why did you decide to have more than one? Are they required for only one service or do you aim to provide a wider range of services by them? Can you briefly explain what they are used for? Do you plan to have more tokens in the future?

Zhuang:

Wow long qns for long ans haha. I think firstly, we DO NOT plan to have more tokens. 3 is more than the usual. Let me do a quick summary of what the 3 tokens are about.

Shuttle One assets - Postimages
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I hope this answers the utility of the 3 tokens. I will explain what they are used for…as I’ve mentioned for Risk Assesement Token or RAT

I am will start with CAT. The special thing about CAT is that it has been voted into the MKR protocol by the Maker community in Oct 5th and we are in the process of working to onboard CAT into the Maker protocol.

Shuttle One voting passed - Postimages
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Maker (MKR) Token Holders Votes to Greenlight ShuttleOne’s CAT to begin Collateral Onboarding Work in the Maker Protocol

We would like to say a big thank you to the MKR holders that voted to greenlight us. Please read on to find why this matters and what does it bring to ShuttleOne.

This is one of our milestones this year…and we are proud that the Maker community has signalled that crypto is ready for real world assets to be the future of finance. Both RAT and CAT are enterprise tokens (therefore utilized by enterprises that we serve)

One is an NFT one is a ERC20. For obvious reasons for RAT, however for CAT, one can say it is a stable coin of sorts for global trade. 1 CAT = US$1 of traded assets and it appreciates in value when the user repays (or other users pays) for the trade loan. We envision a world of finance that basically allows for open and transparent loans and borrowing trading. Therefore, one may say CAT is also a algorithmic stablecoin of sorts where it automatically appreciates (when a merchant returns a loan + %) and rebases itself when there are new assets being minted from the real world, as for SZO. Let me go through a simple eth txn.

D| Satoshi Club:

Sure!

Zhuang:

https://etherscan.io/tx/0x8afc56a539340067fac157fa275e26cbabe5c1f476b1fc97d67ce4711ffb4639

for ease, let me screenshot this…

Shuttle One etherscan detail 2 - Postimages
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SZO is mainnet and we’ve been BURNING SZO whenever that is a smart contract interaction on the ShuttleOne ecosystem

This is again the same loan that was borrowed out earlier for $3500

You will see that every contract interaction SZO is burnt from circulating supply reducing the vol.

More importantly, it is also the same for repayment:

Watch $SZO Burnnnn

Repayment of US$2,682.84 from a trade finance loan taken in November 2020. Earning our Liquidity Suppliers 10.00% APY

So it is designed to be a utility token whenever merchants take a loan, interact with remittance and doing payments, etc…financial services products that ShuttleOne has designed.

It is important to note

Gold Rocket | Satoshi Club:

Clear! An impeccable answer!

Zhuang:

Thank you!

ShuttleOne — HAS NEVER done an ICO. Therefore, there are no whales, even our equity investors gets locked for 4 years from the day of trading. So as more SZO is created (as there are liquidity suppliers supplying stablecoins), more business is done, more biz is done more SZO burnt, you get it.

HaHa. It’s a beautifully designed crypto economic system.

As a team, we are proud of this design and more proud that there are actual working products with real revenues generating SZO and supporting the business.

I don’t think many projects can showcase real-world utility vs a strong crypto design.

D| Satoshi Club:

Thank you! do you have additional questions? @GoldRocket27

Zhuang:

I think we can move on HaHa… it’s a long answer.

D| Satoshi Club:

Ok, let’s go!

Q4 from Telegram user @Jonahapagu

In one of your articles, it is stated that Shuttle one is utilizing a mix of fungible and non-fungible tokens, to provide on-chain and off-chain management of trade financing and operational oversight. In line with this, I read that ShuttleOne captures basic merchant information and tokenizes the merchants’ financial data and port operational data into a non-fungible token called Risk Assessment Token (RAT)… In what ways does Shuttle one utilize fungible and non-fungible Tokens to provide on-chain and off-chain Management.. and What will the RAT (Risk Assessment Token) be used for.

Gold Rocket | Satoshi Club:

Thank you! everything is clear to me! and I like your approach

D| Satoshi Club:

I think you have already answered this one

Zhuang:

Thanks, buddy, Haha yes, I think I’ve covered all of it. But one point I’d like to add since this qns touches on risk management, especially the off-chain part.

Gold Rocket | Satoshi Club:

You are welcome

Zhuang:

For crypto to work in the real world…in our experience especially governments entities. There need to be very strong in off-chain processes and procedures. This basically means you need to be able to “punish” the borrower should he default. Notwithstanding that when SZO and CAT the ERC20s reach a certain market cap, it will add as insurance (as part of our staking product) to compensate defaults that happen off-chain. You folks may read more on how we deal with risk here”

https://shuttleone.gitbook.io/step-by-step-guide-to-the-shuttleone-network/the-shuttleone-token/risk-management-and-disclaimers

And to answer this question in 1 picture

Shuttle One etherscan detail 2 - Postimages
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Gold Rocket | Satoshi Club:

I am very impressed that a relatively small team in a short period of time was able to create a fairly good MVP

Zhuang:

Beauty in small numbers. Razer focus on execution. No ICO= no distraction

Zhuang:

We also had many great investors.

D| Satoshi Club:

I like that you have so many guides and even video instructions, it helps a lot

Zhuang:

Who helped us in the equity round from last year

Some of the folks as shareholders Included CMT digital, who advised a lot on how trading works especially legal.

Coinshares one of the largest listed BTC fund in Europe And Maker Ecosystem growth holdings. The investment arm of Maker

And no there’s no tokens for them to dump on day 1

Gold Rocket | Satoshi Club:

Fine! thanks for sharing! ready for the next question?

Zhuang:

Yes!

D| Satoshi Club:

Q5 from Telegram user @Highpee

You have dedicated an entire publication on your website to pinpoint the risks your users will be exposed to for using your protocol and issuing disclaimers in this regard. 5 ‘scary’ risks were published by you. It seems your users will have themselves ONLY to blame for using your protocol in case something goes wrong including if a coding error or bug in smart-contract led to financial risk. Is it fair enough for users alone to bear the cost for flaws or other risk cases that are no fault of theirs? What Risk Management and Prevention Strategies has your team put in place to ensure that the chances of exposure to internal/external risks while using your protocol are minimalized?

Zhuang:

Very good questions its these type of questions that we can steer the narrative back from food coins and farming without vision I will address the off-chain risks at the moment. Crypto is a beautiful asset class that has shown many promises in making sure the default risks are kept to a minimum if we take black thursday for example this year in March where the MKR protocol was attacked by a 30% ETH price drop in relatively 6 hours. MKR was printed to “cover” for these losses, making whole the entire coverage of the losses. This can be done too in the SZO space where SZO tokens ensure the underlying defaults.

Point 2, our borrowings are small between a few thousand to the largest being a US$100,000 trade finance done in Oct 2020. We have relatively NPL — it stands a 0% at the moment, even during the pandemic. That’s only because off-chain, we’ve signed partnerships with strong partners that are able to claw back defaults on our behalf.

Gold Rocket | Satoshi Club:

Absolutely right!

Zhuang:

So the responsibility lies on the team to set these up off-chain as part of our responsibility. Also, these are part of our licensing coverage that we needed to do. We go on to the smart contracts. Firstly if you read codes and if you go to any of our smart contracts, basically the token assets — there are 0 admin keys on the main-net version especially as we like to see ourselves not as the bank itself being centralized, but user funds are non-custodial and protected — even from the team (us) itself.

So there’s no rug to be done or whatever else — these were designed and planned for in April 2020, way before this whole DeFi Summer started.

Gold Rocket | Satoshi Club:

By the way, have you already done an audit of smart contracts?

Zhuang:

Yes, we have! The SZO contract is audited by Peckshield in April 2020

Here’s the link

Gold Rocket | Satoshi Club:

Can you share your results with our community?

D| Satoshi Club:

I’ve heard about these guys

Zhuang:

We prepared for this way before the DeFi boomed. One of the finest in Asia.

Gold Rocket | Satoshi Club:

You were the first

Zhuang:

HaHaHa, I like to think we are — especially in Asia. So the reason we like to list out so many risks including this VERY VERY ominous advisory message from the Monetary Authority of Singapore:

We are required by the Monetary Authority of Singapore to post this risk advisory for anyone who interacts with our products.

“The Monetary Authority of Singapore (MAS) requires us to provide this risk warning to you as a customer of a digital payment token service provider. Before you pay your DPT service provider any money or DPT, you should be aware of the following.

  1. Your DPT service provider is exempted by MAS from holding a licence to provide DPT services. Please note that you may not be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
  2. You should not transact in the DPT if you are not familiar with this DPT. Transacting in DPTs may not be suitable for you if you are not familiar with the technology that DPT services are provided.
  3. You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.”

*dpt = Digital Payment Tokens.

DPT = crypto is we want ALL our users to know their risks, and what they are getting involved in. That is responsibility in crypto and creating products in the DeFi space. So these are the policies that we’ve put in place as a company to safeguard user funds, the returns and abide by the rules of the central bank.

I’d like to think we are the few Defi projects globally that have these safeguards atm.

Gold Rocket | Satoshi Club:

It is obvious that in Singapore, crypto is in the legislative field.

Zhuang:

I mean buddy the largest Asian bank DBS just announced crypto trading. HaHa, so Singapore is legit for crypto regulations.

Gold Rocket | Satoshi Club:

Mass adoption in action! thanks for the great answer!

Zhuang:

Thank you! let’s move on.

Gold Rocket | Satoshi Club:

@Cool_as_Ice shoot

D| Satoshi Club:

Q6 from Telegram user @Rosane1a8

ShuttleOne sets a bridge between CeFi and digital currencies, how is thus possible without bringing the centralized issues of fiat currencies to the ShuttleOne ecosystem?

Zhuang:

This is a very good question, that goes back to 2019 actually when we built remittance. At this stage, we are live in major South East Asian countries such as Singapore, Malaysia, Thailand, Indonesia, Philippines, and China. Serving these trade finance merchants we are going to open up to 80 different countries in 2021 Q3. The centralized issues of fiat can be summed up in many many problems. I would like to address 1 that we felt important. The censorship of such funds i.e a central authority has the right to stop you from transacting or freeze your assets.

Everything that ShuttleOne has built from the remittance wallet you’ve seen to the lending protocol that you’ve seen also are all non-custodial. Especially if you keep your holdings in crypto — no one has the right to touch it except yourself. You keep your own keys and dictate your own destiny. This is basically the philosophy of how ShuttleOne de-risks ourselves and our users from the centralized issues of fiat.

Take for example. The remittance, the problem is that there are too many middlemen handling your money you want to send to your friends and family, and let’s not kid ourselves, you need/want domestic currency. Say Dai to Indonesian Rupiah in our systems.

Our remittance partners and fiat on and off-ramps DO NOT hold your money until they have sufficiently proved that they have deposited the domestic currency into the desired bank accounts before they can withdraw the crypto, if they do not do it, the user will get their crypto back. This is simply smart contracts in action, and codes in action — no need for an intermediary for value. Essentially, we found that this reduces the level of trust that is needed in humans and decreased the transaction costs for our remittance users.

That’s how we hybrid and bridge CeFi into DeFi

D| Satoshi Club:

Thank you for answer! Very a detailed explanation! Thank you!

Gold Rocket | Satoshi Club:

It’s incredible! thanks a lot for the answers! are you ready for the live part?

Zhuang:

Yes, the most exciting part!! HaHa.

D| Satoshi Club:

Yes!

Let’s goooo!

120 seconds

PART 2.Questions about the ShuttleOne project from the live chat of the telegram community.

 

In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the ShuttleOne crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.

Q — 1 from a telegram user @Eliasbb

It is clear that so far you don’t have any fundraising program (like ICO, IEO, Pre-sale …etc). So, without any funding how you are doing so much development? where does the money come from for development? Are you selling team Tokens? Or are there any seed Investors? Explain to us how strong is your funding? them?

Zhuang:

Since its inception, ShuttleOne has been a small team. We’ve been validated both in Singapore when we obtained not 1 but 2 grants from the central bank.

Globally, ShuttleOne equity investors include Maker, CMT Digital, Andromeda Capital, and various angels in Singapore. Recently, Microsoft’s ex-Director Charlie Songhurst who took over Yahoo and Skype also invested in us.

Q — 2 from a telegram user @leixagarcia

Could you please inform us what is the value of the SZO token? As it is not specified on your website. How do I get it? Thx.

Zhuang:

The only way to get SZO is to provide liquidity through our liquidity pools. Therefore you get it somewhat “free”. We designed this to protect investors from the main risk of price drops. And it is the safest way to obtain the tokens.

If you hold the ShuttleOne token, you are able to share higher interest rates that are generated by these real world assets.

We allow the average stablecoin supplier to be exposed to bank-grade quality assets that usually people are not able to invest in. These include commodities like rice, metals, and soon energy.

Q — 3 from a telegram user @Pannicota

What will happen if there are NO MORE $SZO to burn? And about the Mainnet, is it complete yet? If we providing liquidity to get $SZO on Mainnet, will $SZO running on its own chain or still using Ethereum?

Zhuang:

there will always be SZO, just as there will always be ETH. it is hardcoded with hard inflation built per 365 days to ensure there is enough liquidity in the system for the burn and also to incentivize SZO holders and liquidity supply into the protocol for business to be done.

https://shuttleone.gitbook.io/step-by-step-guide-to-the-shuttleone-network/the-shuttleone-token/introduction

Q — 4 from a telegram user @Pratze

I learn that Shuttleone has a product name with “The SpacePods” Which can support to supply of liquidity for stablecoins, but how does The SpacePods work? What is the requirement if a company that has stablecoin wants to join The SpacePods?

Zhuang:

this is simple, you connect your wallet, and you supply! and start earning real yields. some people that we know take this as a way to hedge the inflations of their domestic currencies as the protocol pays out 10% at the moment. you may read more here:

https://shuttleone.gitbook.io/step-by-step-guide-to-the-shuttleone-network/guides/supplying-liquidity-into-shuttleone.network

Q — 5 from a telegram user @Pannicota

You said that we can earn the tokens through Mainnet liquidity providing but I checked that Mainnet still not complete yet so when we can start to earn $SZO??

Zhuang:

This is clearly started, we’ve started our main-net on September 25th of 2020 here’s a screenshot.

Shuttle)ne earn - Postimages
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u start earning SZO once you supply liquidity.

Q — 6 from a telegram user @Xusuo

I read your twitter its all about $SZO token burn. I know “burn” usually has a good impact with a token but how does the burn system in ShuttleCoin? Does it burn for every transaction for $SZO token? And How many percentages from total supply $SZO did the ShuttleCoin team planning to burn?

Zhuang:

we will burn until there’s no more SZO to burn. as long as there’s the business to do, there will be a burn.

Q — 7 from a telegram user @boradam

What’s the main difference between ShuttleOne and the other lending projects?

Zhuang:

I would like to say there are 6 main differences.

1. We did not do an ICO
Therefore, this means that the tokens in circulation and marketcap will be very low and it will grow according to the business that we do. Essentially, in cryptotalk it means there are no whales to dump on you.

2. Watch SZO BURNNNN
To ensure that there is a constant burn and reduction of total supply, if you have been following us on twitter (@shuttle_one) and our telegram announcement page, you will see that successful business done via the ShuttleOne.Network will DECREASE the token supply.

This potentially allows for strong price appreciation and the token holders are incentivized to hold SZO and supply liquidity via the ShuttleOne.Network to gain more value

3. Very low starting supply
If you go to our Guides on the ShuttleOne.Network, you may see that more than 50% of the token supply IS NOT MINTED. The tokens can only be minted when there are successful business to be made (along with the burn) so the circulating supply on day 1 is actually less than 1% of the token supply if we would do a good estimate. The total number of tokens minted for the team and also our equity investors are also locked for 4 years from listing.

4. Working Business
Many project these days are in their early days of inception. Most of the tokens do not have real use cases or are battle tested. Even the projects in 2017, most do not garner a proper use case for their tokens. ShuttleOne stands out by having a working crypto business first (we decentralized over the past 2 years) and this is highly different. The amount of revenue that we have clocked in our trade financing this year of almost US$3mil allows us to say we are firmly a start up looking to scale and we need the community’s help at www.shuttleone.io/mainnet to make it happen

5. We are backed by some highly notable equity investors.
ShuttleOne equity investors include Maker, CMT Digital, Andromeda Capital and various angels in Singapore. Recently, Microsoft’s ex Director Charlie Songhurst who took over Yahoo and Skype also invested in us.

6. Regulated DeFi
We believe we are one of the few DeFi projects that are successfully in process of applying for licensing in the world via Singapore. If you go to our GitHub at www.github.com/shuttle-one you will be able to find our application submission to the monetary authority of Singapore.

I would love to also point out, we are also a part of Singapore’s Financial Sector Development Fund awardee. This means the technologies and business that ShuttleOne has built is being recognized by the central bank in Singapore.

Q — 8 from a telegram @cryptovgh

What is the linkage with CALISTA systems? Do you have any relationship with CALISTA? Or Both CALISTA and SHUTTLEONE are one project? Could you please explain about this?

Zhuang:

Calista is a government-linked company’s product, basically our partner, we’ve licensed our technology to these folks to enable them to conduct financial services in a more efficient manner using the blockchain and DeFi philosophies.

Q — 9 from a telegram user @Chinthaka93

What is the difference between SZO, RAT, and CAT? What are the use cases of these three different coins and Is there any special reason to launch three tokens?

Zhuang:

The reason why we are a 3 token ecosystem, is because we attack a very unique space in the real world industry…..we have designed 3 tokens to properly facilitate the product and business.

Q -10 from a telegram user @taemin_vj

Having three tokens each with a “different” utility gives you an advantage over the others in a certain way? Where did the idea of having three tokens come from?

Zhuang:

we believe that all 3 tokens serve different functions in 1 product to tokenize and facilitate financial services in the real world. just like a car, you have the body, engine and then you need fuel to properly function in an intimate design. we see ShuttleOne’s 3 tokens as a strong contender in the financial services space!

Part 3 — Quiz about project

 

In the final part, we would like to check your knowledge in terms of the ShuttleOne project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.

Our contacts for more details:

English Telegram group | Russian Telegram group | Spanish Telegram group | Telegram Channel | Twitter | Website

Our Crypto Partner by this AMA: ShuttleOne

Telegram group | Facebook | Tweeter | Website | Medium | Litepaper

 


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