SpiderDao AMA Recap Together with Nathan Varty (CEO) & Anas Sayed (CTO)
The AMA Session had 3 Segments:
- Introduction / Questions from The CryptoChainPh Team
- Questions from Twitter
- Live AMA
Segment 1: Introduction / Questions from The CryptoChainPh Team
Okay. Let's get started!!! 💪
Please introduce yourself to our community.
And give us an introduction about SpiderDAO?
Before joining SpiderDAO,I was the Chief Technology Officer at RiveX, where I spearheaded the development of various blockchain solutions. I am experienced in on and off-chain tech and have a passion for developing decentralized solutions.
Hi, my name is Nathan and I'm the CEO of SpiderDAO. I have been successfully leading SpiderVPN since its inception in 2017, growing the business to over 6000 users across 18+ countries. I am an experienced entrepreneur with a background in IoT Development and Operations.
SpiderDAO is the world's First hardware-based DAO. We plan to bring hardware to the whole DAO ecosystem, pathing a new road towards whale resistant DAO’s by bundling a suite of on-chain and off-chain security tools. By doing that we negate the currently existing issues of the DAO such as Plutocracies, Dark DAO’s & exploitable governance & bringing a more democratic approach to the crypto space. The project started from observing the current problems on the crypto as stated up in the first paragraph. We gave it a long and hard thought and figured out that pairing hardware with crypto is just the best solution in this case.
First time to encounter hardware-based DAO. Very good initiative!!
Thank you for your introductions.
What are your available products? And what is SpiderVPN?
The current products of our two sister companies are starting with the most obvious SpiderConnect router, Multi-layer security VPN running through wireguard protocol, LAU concept acting as a SpiderDAO distribution program currently sitting at 700% APY, a fair & resilient governance system, The ability to stake 500$ worth of LP tokens to obtain a free VPN subscription while making some tokens on the side. Also, some of the upcoming products are Spider Dashboard which will contain many useful features perhaps the most interesting being the ability to monetize bandwidth with the help of the SpiderConnect router in order to make some passive income.
For my next question, can you share us your TOKENOMICS? What are the usecases of $SPDR?
The current tokenomics for the private sale investors were 8.33% released weekly for the next 12 weeks + a SpiderConnect router if they decided to invest 2000$+. As we sold only 10% of tokens in the private sale the idea behind this was to give people who supported us early an edge so that they can participate in the Spider Distribution program which contains 60% of our ecosystem tokens and currently runs on 700 - 800% APY early and thus have some sort of the advantage on the beginning. When it comes to using cases of the SPDR there are multiple, for one if you stake the 500$ worth of LP tokens in our distribution program you receive a free dVPN subscription, you can also participate in our fair & resilient governance system, Connect to the Spider Dashboard which will contain multiple features perhaps the most noticeable one being the ability to monetize your bandwidth with the help of our SpiderConnect router & make some passive income from it.
The SpiderDAO Distribution Program is designed to facilitate a long-term transfer of ownership in the DAO to users providing value to the project by becoming LPs. The program will last for approximately five years. This will allow new community members to join over time, instead of front-loading the rewards and attracting mercenary capital with no interest in the project. To facilitate decentralization of the SpiderDAO, 60% of the SPDR supply will be distributed to the community through the SpiderDAO Distribution while only 10% of the supply has been sold to investors. This means that over time, ownership of the DAO will pass to participants in the program who by definition have been long term holders of the token and maintained constant exposure to it as liquidity providers. It’s also worth mentioning that the current APY rate is between 700 and 800% for the program, so you guys are most welcome to participate in it.
Can you share us a picture of your router. So they can see what it looks like. :)
For my last question for this round, what are your plans for next year? Do you have a roadmap?
In plans as you can see from the roadmap we have quite a few things lined up, but if we mention a couple of things creating an Android app & adding some additional updates to our current router, following up also with an IOS app design and full development of a DAO. After the DAO launch, we will extensively work on the Spider Dashboard while simultaneously bridge our current $SPDR token which is still ERC-20 to the Polkadot network. At that stage, we expect to fully update our hardware to a stable version and to polish some of the yet unaware bugs out. After that, we should be finishing the last quarter with the development & release of the Bandwidth monetization model on the Spider Marketplace, so as you can see it will be a very active year.
Segment 2: Questions from Twitter
Question #1 from @kadambam2 - What advantages does decentralized VPN's have over traditional VPNs, and what additional benefits does the extra layer dVPN offers in SpiderDao, besides having no logs?
The decentralized VPN increases the user’s security and privacy compared to using a centralized one. Additionally, we don't take any shortcuts on speed and reliability. We are absolutely competitive in these areas and even beat most of the known VPN providers. However, with SpiderDAO we are able to add features none of our competitors can. I mean, selling your bandwidth, getting passive income and at the same time taking part in the democratic decision-making process through our DAO is surely nothing I can see with any competitor.
Question #2 from @shabbir30260554 - How does SpiderDAO combine hardware and software tools with elements on the chain to prepare a "durable" governance solution and integrate the governance model into the DAO concept?
2 Major Components make up our DAO concept. First on-chain SPDR tokens & secondly off-chain SpiderConnect Routers these will equate to one on-chain vote, enabling demonstrable decentralisation to be maintained at the hardware level. SpiderDAO effortlessly eradicates all problems associated with traditional DAO. Additionally, the users get a decentralized VPN that can be accessed using $SPDR Tokens, which assures complete anonymity.
Question #3 from @Ellllll_eyyyy - Since 2020 is about to end, I wanted to know what is the most memorable achievement SpiderDAO has accomplished and what are the upcoming plans that will help boost SpiderDAO's reputation and value?
The most memorable achievement this year for us is the growth & interest of the whole crypto community that we have received, in just a short span of time of 2 months we managed to grow 17 thousand followers across our social media, which led us to a very successful TGE event and a launch of our distribution program that currently does 700 - 800% APY. But the year does not end for us just yet, we will power through holidays to distribute routers to the private sale participants and giveaway winners and also release a feature of staking 500$ worth of LP tokens to receive a free VPN subscription.
Question #4 from @AhmetSalihDuma1 - If voting on SpiderDAO requires the Router, do you thinkk people will decide to pay for this product in order to vote? Will SpiderDAO voting be available to a small number of voters?
People will have to obtain the router if they wish to participate in the voting process, but there are also many other features that are part of the router, for one if you pair it with dVPN you have a multi-layer security through our wireguard vpn protocol, protection against DDoS attack, killswitch in case of cyber attacks, the benefit of a 2.4|5.8 GHz Wireless network and much more. Let’s also not forget to mention that with the help of the router you will be able to monetize your bandwidth and make some passive income while browsing your internet as well.
Question #5 from @Winterkom - Can I use the SpiderDAO Router for data transmission inside my house? That is, as a common Wifi router? Or can it only be used for voting?
Yes, you can indeed use our SpiderConnect router to transmit data inside of your house, With the newest software update that we are pushing out soon, it will even have the power to replace your current main router.
Good to hear that! 👍
Twitter Questions, done. We are now heading to the most exciting part of this AMA, the Live Questions from Telegram!
Segment 3: Live AMA
Smart contracts are prone to failure and many projects fall victim to this, costing users money and the project discrediting. How reliable and secure is your smart contract? Have you audit it through any of the parties?
Our smart contarcts were recently audited by Certik. More information here
What is about your whitepaper? Has it already issued and announced? If yes please give the link for the whitepaper, I could not find it
Our whitepaper is available here.
Hello, I’m from Philippines Did you know that there’s so many potential investor came from Philippines. Do you have plan in creating Philippine Community group And to expand the market in terms of Philippine Network? @SpiderCEO
Yes this is in our futre plans and we intend to create a new group with help form @Lorax14 (REN) who will help us to manage things and build it up, we hope to se you all there soon 🙂
Yes. We are planning to establish a local community of SpiderDAO in the Philippines. :)
Can you explain the distribution of your tokenomics? How many tokens will be minted? How many tokens will the team lock?
You can see the token distribution from the picture below.
There are a total of 1 billion $SPDR tokens.
Team tokens are locked for 1 year then released monthly for 12 months.
Although ETH 2.0 is delayed to next year, but it will solve all exist problem of ETH and become the best choise for dApps in future, so do you think this is a threat for Your project and how could you overcome this barrier?
We will be building a bridge our current SPDR token which is still ERC-20 to the Polkadot network. At that stage, we expect to fully update our hardware to a stable version and to polish some of the yet unaware bugs out. After that, we should be finishing the last quarter with the development & release of the Bandwidth monetization model on the Spider Marketplace, so as you can see it will be a very active year.
How can we trust your project? We don’t know anything about your team members? Even you don’t have any roadmap or white paper! So, it confusing that where you wanted to take this project?
Can you list 1 or 2 deadly features that make #your project stand out from its competitors? What competitive advantage does your platform have that make you feel the most confident in yourself?
For me 2 deadly freatures would include an offer of VPN Rewards where you can stake your tokens to gain rewards to the access free VPN services complimentary of Spider dVPN. The the ability to create a passive income wiht your router by selling unused bandwidth in the SpiderMarket.
Your project has great features. There must be an experienced team behind. Can you tell some about your team and their experiences in the market?
We have an experienced team of developers that have worked with tech leading companies in the past, including projects with multi-million customer bases. We know what is needed to scale and how to lay the foundations to execute successfully.
Can you explain SpiderDao’s pre-sale, SpiderDao’s pre-sale Hardcap and price? How many rounds of pre-sales are you going to, what is the initial listing price on the market?
you can find all of this in the link provided here>. https://www.coingecko.com/en/coins/spiderdao
End of session…….
SpiderDAO’s vision is to bring unparalleled online privacy to the end-user. As a Decentralized Autonomous Organisation (DAO), requires addressing the shortcomings of current DAO frameworks. We do so through a multi-layered governance setup based on hardware and software tools on top of a Fair & Resilient Hardware-based DAO built on Polkadot.
Our ecosystem, then, is built on the foundations of fair governance. It includes the SpiderDAO, SPDR Token, and the SpiderConnect Router, which come together to create a robust, scalable, and community-driven ecosystem that will keep up with the pace of technology change and stand the test of time. Today, we would like to shine the spotlight on the SPDR token and its utility within the SpiderDAO ecosystem.