Community AMA #1

Telegram Transcript

Thom

Welcome to our first official AMA on our community channel everyone! 🌞

Thom

3 parts AMA:

Luke P.

Hello everyone :) Thanks for being with us :D

Lukas S.

Hello everybody, santé 😎🥂 (;D) ! Excited to have our first ethbox-ama :) 💪

Paul S.

You know, usually we’d start off with something like “thanks for having us over”, haha 😂 This obviously doesn’t do it on this very special occasion. Thanks for being with us on this absolute first-timer, our very first own community-internal AMA! :)) ✌️

Thom

Vamos whenever you’re ready!

Luke P.

I think no long words needed here for the most of you, but for those new to our community: Hello & welcome to ethbox :)

Luke P.

My name is Lukas Pratschner, I’m facing all organisational, business regarded & legal regards in which ethbox is involved or plans to be. Lukas and me are also permanently working on business development & partnership agendas.

Lukas S.

My name is Lukas Schiefer, Iam 31 years old and in crypto since the beginning of 2017.

Paul S.

Those of you that have already been with us for some part of our journey probably know that the three of us, we’re basically very close group of real-life friends from Austria.

Paul S.

Initially, ethbox was Lukas’ idea, stemming from having one of the biggest fears in crypto life actually happening to him: Losing quite a bunch of money due to a wrong transaction address :O

Luke P.

Love your words, Paul. 100% agree!

Paul S.

:)))) ️❤️!!

Thom

To fat finger & send funds to a wrong address can happen to the best of us!

Luke P.

So it is, meaning Lukas’s fat fingers ?

Paul S.

How did you know though? 😶😅😂

Lukas S.

😱

Luke P.

:D joking

Paul S.

Hahah kidding, this can happen to literally anyone, even with copy-pasting (unlikely, but still, imagine having that happen to you Oo)

Thom

Shall we start to answer questions submited?

Paul S.

Ready when you are! ✌️

Question 1

Luke P.

That’s one main reason for being here right now. We got a small community but a strong one, that’s what we want to focus on. Thanks goes out to all of our strong supporters. Thats why we came up with the idea to have an AMA with OUR community, to take care of their regards — to take care of YOU, folks. A small but strong community is much more worth than a big and „weak“ one.

Luke P.

Besides that we had some community activities in the past + there is an event incoming. Let me refer to it here, gimme a moment pls! :)

Luke P.

https://t.me/ethboxANN/171

Luke P.

There is so much more incoming …. Some of our strong supporters already know a bit more what’s incoming!

Luke P.

I think all 3 of us learned a lot in the past month & we really want to push that regards much more further!

Thom

About recruiting people with experience bringing value to ethbox, hello to Fredo

Luke P.

We are working with another new & great agency beside the old ones.

Luke P.

Much love for @FredoCorleone

Paul S.

Can’t miss a single chance to give him a shoutout: That man is a f*cking beast and a legend! For those of you who weren’t here when it all started, Fredo basically started taking apart my code that I had written for our first Testnet Beta all by himself, and simply presented me solutions, just like that! 👌

Question 2

Lukas S.

ethbox has already some different revenue streams and there are even more coming up in the not so distant future. One of them is obviously that we are generating a fee when ethbox service gets used. For now Mainnet light is completly free to use but with our upcoming Mainnet v2 the service will cost a fee.

Lukas S.

Oh and beside all of the token utilities we have some more “incentives” and rewards for token holder ready, for example the liq provider bonus programm, some early adopter games or some other campaigns which will be active in the future.

Paul S.

Ah, by the way, regarding that “staking as a service” thing you mentioned:

Paul S.

It’s been probably already spoken about on the channel etc, but hasn’t been explicitly mentioned. We’ll be announcing separately, so anyone who’s interested can get the news, but here goes (for now):

Paul S.

Most important of all, this paves the way to a whole new branch of business that we hadn’t even thought of in the first place — You’ve surely heard of “Ferrum” when it comes to staking, and from now on, there’s a new name in the staking service game, and that one is ours: ethbox! ✊

Question 3

Paul S.

As you’ve seen with the example of staking as a service that I’ve just portrayed, chances & opportunities can come to us from the most unexpected directions. We’re open to anything that’s meaningful & enriching to our community, and brings benefit to people using the crypto space in their daily lives! :)

Paul S.

In any case, we’re absolutely positive we’ve all (not just the three of us) done a tremendous job together so far, and we’ll be continuing on our way until we achieve the very last of our goals (and there’s plenty — but they’re all absolutely doable). Stay with us & bear witness! 💜✊

Paul S.

As for other blockchains, yeah, we’ve already been on BSC since we launched our early Testnet, and we’ve also recently extended ethbox to Polygon (formerly Matic). What’s reeeally going to be interesting though is when we get to implementing solutions such as Polkadot, Solana etc, those are going to open up entire new universes of possibilities fo ethbox.

Paul S.

These are all perfectly doable things, smaller or larger steps, each of which gradually increases our influence, spread & people’s awareness thereof inside the crypto space.

Question 4

Thom

That one was funny to read!

Luke P.

Oh yes :D

Luke P.

But it is kind of understandable, crypto is still Wild West !

Lukas S.

ethbox is a project which is heavily needed in the crypto-space, its not about being a “meme-coin” or some money grab stuff..

Lukas S.

So yeah.. there is no reason for a rug pull, there is so much more to achieve and even tho the path might be sometime little bit stony — its really great to see this thing evolve :)

Paul S.

That’s exactly that… Honestly, if we had any malicious intention, we’d be idiots not to have rug-pulled already. We don’t do that kind of stuff, and we’re not here for that.

Paul S.

On a more technical note: It has been brought to our attention that it’s usual practice for crypto projects to be burning or locking their LP tokens (from providing the initial liquidity on Uniswap / PancakeSwap).

Paul S.

Maybe you’ve heard of Unicrypt — They’re offering a set of blockchain services, such as the possibility of locking away your LP tokens inside a smart contract…

Paul S.

(Speaking of untapped opportunities, such as staking as a service, here’s another one! :D 👌)

Paul S.

(One that we’ll be using ourselves eventually, which is why we’re doing it in the first place: Long story short, we’ll be locking away our LP tokens in a perfectly transparent smart contract, that everyone can double-check!)

Thom

Transparency X💯

Question 5

Luke P.

I think the others have answered that question already, but to repeat in short words:

Luke P.

This is not entirely correct, as we have now implemented one or the other extension. ethbox works on the following networks:

Question 6

Paul S.

Ahh, I love it, that’s my kind of question! :D One that can be answered simply & straight-forward, just like the essence of ethbox!

Paul S.

In programming & the mathematics behind it, there is something called “hashing”. This basically means that you take some value A, and calculate another value B out of it, in a special way.

Paul S.

When someone sends a box through ethbox, all the relevant transaction data is stored inside the ethbox smart contract. The passphrase however is only stored as a hash.

Paul S.

Additionally (I left that out for simplicity’s sake), the passphrase gets hashed twice actually. This is needed so that there is never a clear-text passphrase submitted across the internet — Whenever that passphrase you chose when sending a box gets sent out into the world wide web, it has already been hashed, so that it’s impossible for any possible hacker etc to find out the original passphrase. 👌

Question 7

Lukas S.

There are few different utilities for EBOX like:

  • reduced fees
  • staking
  • governance
  • and payout

Question 8

Luke P.

We are definitely aware that English is not everyone’s native language. We definitely want to spread awareness. At the moment splitting our f.e. TG community doesn’t make any sense, because we want to concentrate on our current base (as already mentioned) & strengthen what we already have.

Luke P.

In the future this will definitely be the case!

Luke P.

I see a lot other communities smaller than ours, which have groups for every language or nation.

Luke P.

We definitely know that we have to promote our marketing towards the Asian market. Things are being planned and will also be tackled, but as I said: We now want to concentrate on our basis, consolidate it and above all EXPAND it. Until further notice: in English :)

Lukas S.

Personally i think at first we need to grow more before we open up more community-channels in different languages. The problem is if you split up a “small” group in even smaller ones they tend to be dead channels .. at least reagarding telegram

Question 9

Paul S.

We can’t exactly be naming a number here or anything, aside from our general intention to be expanding, raising awareness & furthering mainstream adoption of ethbox as much as possible — Obviously, well-known services such as Coinbase Wallet, MyEtherWallet and Binance Chain Wallet, along with hardware wallets like Ledger and Trezor are along our top priority with what we want to implement…. :))

Paul S.

Other than that, and actually a lot more interesting & meaningful to ethbox the way we see it… Is our own MetaMask-like browser extension / wallet service!

Paul S.

What we want (need!) to do is give people the possibility of integrating ethbox into their daily flow of using crypto / DeFi services, sending funds etc. This has to be as simple & straight-forward as possible, just like sending a transaction through MetaMask.

Thom

[ Approving GIF ]

Paul S.

Save it for when we’ve genuinely earned it, this one’s a total no-brainer, hahah… :)))

Thom

All right then! I’ll keep it safu in my gif bank for later

Paul S.

😂👌 Thanks for your confidence, you could just have taken it back permantenly and that’s that, haha :))

Thom

“Too late”

Question 10

Lukas S.

Yes we have a strong relationship with the Ducks.

Question 11

Luke P.

Unfortunately, it is relatively difficult to make a forecast on this. This industry is constantly changing and is becoming more relevant in real life every day. As we are now noticing, more and more countries are starting to deal with digital currencies. We will not leave ethbox to government institutions and will do everything in the future to remain compliant in legal matters.

Luke P.

We got a good standing right now and we strive for evolution here as well.

Lukas S.

+ there is no way they can turn ethbox off, we will do EVERYTHING to protect ethbox and there will always be possibilites to run this business. If it means to move out of this country like now a lot of miners are moving out of china.. then here we go! no reason to stick to specific country IMO

Paul S.

+1 — Totally agree, nothing will bring down ethbox! ✊

Question 12

Can you explain how privacy is achieved through ethbox? Are there any additional features or changes incoming that will help further this privacy feature?

Thom

Paul will jump in 😉

Lukas S.

🤤

Paul S.

:))) I was just gaining momentum, hahah

Paul S.

So, first and foremost: ethbox offers privacy by its very nature. Sending funds through a smart contract is always less direct than sending funds from A to B, so that’s one thing.

Paul S.

… Which is where the first part of our privacy feature steps in, the one that’s already live in our ethbox Mainnet Light and can be used free of charge for now:

Paul S.

This alone doesn’t do it entirely though — We have a new feature coming up that allows users to partially withdraw boxes.

Question 13

Lukas S.

For our staking we have a specific formula to calculate their sharerate and so the APY.

Lukas S.

Regarding impernant loss, we have different incentives like the liq provider bonus program.

Thom

Talking about risks & security… 👇

Question 14

Paul S.

Fortunately, like most of the time in life, there’s multiple sides to things. There’s risk that you can’t do all too much about, like the one involved when providing liquidity… And risk that can be simply avoided, that’s a mere technicality.

Question 15

Luke P.

Great question! Everyone is invited to spread the word about ethbox. From my experience, people will be enthusiastic as soon as they understand ethbox as a dynamic project and, above all, the intention of our vision!

Luke P.

If people are using ethbox and are happy with it, growth will certainly not be long in coming. We’ll take care of brand marketing and it’s in progress, but YOU are in demand on social media! Twitter, Reddit, Instagram & Facebook is the place where you can be active! Retweet and share our updates, link to ethbox.org and spread the word! I can only express my deepest thanks again to all our active members! Once again! Without you we wouldn’t be where we are now!

Paul S.

Totally — The one biggest thing all you guys & girls out there can do to support our common vision, if you care & want to give us a hand… Spread the word! Let your friends know of ethbox, shill us to your favorite crypto channels, and help get people used to using ethbox for transactions.

Thom

My T̶i̶n̶d̶e̶r̶ ̶d̶a̶t̶e̶ Uber Eat order is on its way 🙂

Paul S.

Channel has been unmuted, hit us hard! ✌️

Emre Koşun

I got the answers to the questions in my head. Thanks team.

Paul S.

[In reply to Emre Koşun] :))) That was unexpected, glad to hear that man!

Luke P.

Haha seems it took too long, everyone saturated & happy :D

Sophia

[In reply to Emre Koşun] I can guess rightly the question that is yours from the list😁

Do

Love the project.. Ethbox solves a pain point that resonates with anyone in crypto.

Serkan MERCAN

Great AMA guys! Thanks for replying my question

Shaira _CryptoFan

Question: What’s your grounds/principles when choosing a partner to ensure ethbox’s success

Emre Koşun

[In reply to Sophia] Question 11 was mine. 🤓😁😎

Lukas S.

[In reply to Do] Thanks for the support! ❤️ very much appreciated!

Slightly Awesome Blueberry

We know you’ve been working on a marketing push for some time, but what can we expect around the time of the full mainnet launch and Certik Audit completion (August 15th)

Luke P.

[In reply to Emre Koşun] Thank you so much for participating aaaaand haha, we assumed it was you :D

Emre Koşun

haha 😂 Thank you for your good wishes.

Lukas S.

[In reply to Shaira _CryptoFan] It’s important that there is actually a real usecase to implement ethbox as a service

Paul S.

[In reply to Slightly Awesome Blueberry] On one side, part of it is currently in the marketing — We’re in the middle of working out a comprehensive strategy with this new agency we’ll be partnering with (more to be disclosed soon, no date for now though), as to elaborating who our target audiences are, where to find those & how to reach out to them, etc etc.

Emre Koşun

If someone send me the ethbox demo video in slide format. I can translate it into Turkish and upload it to youtube as a short informative video.

Paul S.

[In reply to Emre Koşun] Check, noted! Thanks for the generous offer! :D👌

Emre Koşun

😁👍

Paul S.

Alright, so I guess we’ve properly saturated everyone that was here with us tonight, with all the ethbox info you could’ve ever wished for (for now) — And if there’s anything left that you’re curious about, you know where to find us! :)) ✌️

Paul S.

So yes, I’d say this concludes tonight’s AMA, we’re through on my watch — Guys?

Thom

AMA started 3 hours ago, longer than expected :)

Paul S.

(We’re all non-soccer people, next time we’ll be planning for any interference of this kind beforehand 😶😂👌)

Thom

To our soccer fans: enjoy Argentina vs Brazil Copa America final on July 10 & the Euro 2020 final on July 11. ⚽️

Ben

Cheers for that. Covered some good ground and answered in detail.

Lukas S.

.. Or not. 🤣 I like that 🤣

Luke P.

No half things, if ethbox involved!

Paul S.

:)))

Luke P.

Thank you all for staying with us, thanks to all submitters & #StaySafe People!

Paul S.

Thanks for all the questions that were sent to us, thanks for being here with us tonight… And one more very special tip of the hat to Thom, for his divine patience with our LotR-ish AMA proportions, hahah… :)))

Paul S.

Cheers people, good night for now! ✌️💜

Luke P.

We have an awesome community and were proud to have all of you behind us! Good night, good morning members all over the world!

Luke P.

Good night Emre ;)

Slightly Awesome Blueberry

Stayed up till 4am to read it all, worth it …now, let me just lie down and end the process brain.exe

Joshua

We definitely need an AMA medium article based on this AMA! Will be useful for everyone

Lukas S.

[In reply to Joshua] Noted! ;D

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