AMA with Marcus from Organix on what to expect from the launch of Organix Protocol

Incase you missed this a while back about Organix

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Good morning and welcome to another lovely day, the market is looking green and Defi is currently the talk on everyone lips, here today is the AMA recap with Marcus from Organix.

So, to better understand what Organix is all about, Marcus from Organix agreed to host an AMA section which was held on AUG 15th, 2020, 1 A.M (SGT) and this is the recap

You can get the original AMA tweet from this link

https://twitter.com/OrganixProtocol/status/1294246911851941888?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1294246911851941888%7Ctwgr%5Eshare_3&ref_url=https%3A%2F%2Fhive.blog%2Ftrending%2Fmy

Starting the AMA section, Marcus gave us a brief understanding of what Organix is and what they hoped to achieve

Organix is a decentralized synthetic asset issuance and trading protocol based on EOS, which can mint synths like fiat currencies, commodities, cryptocurrencies, inverse cryptocurrencies, and cryptocurrency indexes through staking OGX as the collateral.

and there will be an OGX token for the Organix

OGX is the basic token on Organix protocol, which can be used as collateral to mint OUSD. OUSD is the stable coin in the whole system, the system always values 1 OUSD at 1 USD. Assets can be exchanged with OUSD on the synthetic exchange of Organix system through prices supplied by an oracle, included but not limited to fiat currencies, commodities, cryptocurrencies, and their inverse assets.

The AMA soon kick off with the questions below

  • 1st question is from @Lolia01 why OGX and token pocket prefers to join the eos platform, why not erc20, or trc and others what is the reason

Answer
we are all sufferring from Etheruem high gas fee recently. and it is unacceptable for common users.

and as we all know that, EOS

is built for massive adoption, and free transaction.

And EOS can provide high TPS which means that it enable us to create more possibilities

that’s why we choose EOS now.

Answer
initally 100,000,00 and finially 245,000,000

it will inflate from 100,000,000 to 245,000,000 in 3 years

  • Q3 from @rigututomo How much is the minimum purchase for private sale?

Answer
30k USDT

  • Q4 from @rigututomo To do a swap from eos to ogx, how many eos is minimal

Answer
for EOS, the top is 5000 EOS each time, but we didn’t make a limit for minimal now.

1 EOS = 70.6697 OGX
1 TPT = 0.03958 OGX
1OGX = 0.0433 USDT

you can follow this link to check more details https://medium.com/@OrganixProtocol/organix-public-sale-starts-at-8-pm-august-15th-2020-sgt-e5fc782aab01

  • Q5 from @Emmyluv768 What is the future of the coin. What I mean is that in time of invest and how individuals can position themselves for the future

Answer

  • as collateral to stake and mint tokens
  • the voucher to get rewards
  • DAO token
  • Q6 from @Tobi O’Brien Is Organix protocol similar to maker dao or it is more comparable with synthetix on ethereum?

Answer
synthetix on ethereum

  • Q7 from @대정 VMG
    Who is your Targeted User Base? On which type of Users & industry you’re mainly Targeting?

Answer
Organix will be a dex for all kind of assets to be traded

which can mint and trade synths like fiat currencies, commodities, cryptocurrencies, inverse cryptocurrencies, and cryptocurrency indexes

  • Q8 from @동율
    What are the major milestones $OGX achieved so far & what are in future pipeline?

Answer
roadmap for the project

  • Q9 Tobi O’Brien, Will the project start decentralized or centralized with plans for further decentralization? Is ogx the government token?

Answer
decentralized and OGX will be the DAO token in the future

  • Q10 from @Ima-Abasi Pius
    Should the Organix community expect any major partnership deal in the nearest future?

Answer
yes, you will see soon

and for now, Organix is collaborating with TokenPocket, hoo.com, newdex, whaleex, liquidapp, everythingEOS and the largest Korean community: Cobak

  • Q11 from @Tobi O’Brien
    Question: Who is going to hold the keys to the smart contract?

Answer
it will be a multi-sig account

and in the future, the governance will be decided by the DAO

  • Q12 from @대현 || CNS
    what are your plans to educate and raise awareness and adoption among the community to make more people understand #OGX Protocol and its technology?

Answer

  • whitepaper
  • tutorials
  • youtube, medium, twitter

and will start a trading competition for users to join on testnet, to know more about it

  • Q13 from @Tobi O’Brien
    In the future will it be possible to mint synthesis?

Answer
yes, everything is possible. like $TSL

  • Q14 from @Tobi O’Brien
    Do you plan to list on cex like binance

Answer
have plans to be listed on CEX, and pls follow OGX twitter
https://twitter.com/OrganixProtocol

  • Q15 from @Tobi O’Brien
    Do you have legal team? Can we be sure that the SEC wont deem ogx security and freeze our tokens and assets?

Answer
The legal team will have suggestions on this. And for SEC, it is another part, about American to participate or not

  • Q16 from @Ima-Abasi Pius
    Is the team’s plan to launch Mainnet in early November still feasible?

Answer
yes, if we have changes, will update on twitter

  • Q17 from @Scarlet What gap in the Blockchain is this project aimed to fill? What makes it different from all others we’ve seen in the past?

Answer
EOS projects in the DeFi area are still inactive. One of the main reasons that compared to Ethereum which has been running for many years, EOS mainnet is lack of asset varieties and liquidity. The essence of DeFi is mainly the stake, exchange and circulation among assets.

So the main key for DeFi on EOS to achieve successes is to solve the problems of varieties and liquidity of assets on EOS. And that’s why we bring Organix

Meanwhile, the high performance of EOSIO is the basic for Organix to achieve nice user experience.

  • Q18 from @Tobi O’Brien
    Question: Is there audit made on the smart contract?

Answer
will have the audit

  • Q19 from @Tobi O’Brien
    When we will be able to trade the token? After mainnet launch?

Answer
19th, you will be able to transfer, means you can start the trading

  • Q20 from @FUJI | Emerald
    when distribution and where

Answer
from tomorrorw

participate from the website ( https://ogx.network ) or TokenPocket

  • Q 21 @Tobi O’Brien
    Which community are you aiming to attract? Chinese? Korean? American? Or all

Answer
all

as we all know, TokenPocket is the largest wallet on EOS, so we can help OGX to be promoted to all its users

  • Q22 from @Ima-Abasi Pius
    The African community is far behind in the aspect of blockchain adoption.
    Does Organix have any plan towards this?
  • If YES
    What are those plans?

Answer
yes, for TokenPocket, we are always doing the promotion and education in Africa, we have offerred free EOS accounts there, ambassadors there, and community supports

  • Q23 from @Tobi O’Brien
    How big is your team?

The OGX is incubated by TokenPocket, and TokenPocket will support them from Tech, Marketing.

To that, the AMA ended and all questions were answered.

If you would love to learn more about the project then follow the channels bellow

Written by

I blog on hive and my account https://steemit.com/@otemzi

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