On October 22, Polygon community hosted an AMA session on Telegram with ethbox Team.
ethbox Co-founders Lukas Pratschner, Lukas Schiefer, Paul Simode talked about their pleasant building experience on Polygon & answered questions about ongoing development.
Kindly find AMA transcript below for those of you who missed it.
Channabasava Korlahalli (Polygon CM)
A Warm Welcome to the Polygon community ladies and gentlemen 🙌
We’ll be starting an AMA session with @Luke_ethbox @Paul_ethbox @Lukas_ethbox .You’ll get to know everything about EthBox and at the end you can ask your questions to them (if you have any) I am sure they’d love to answer those.
So without further due let’s welcome them to the Polygon Community!
💯🎉👏
Lukas S.
Hi Polyfam, happy to be here 🙏💪
Paul S.
Hey everyone, thanks for having us & super-glad to be here with you all this evening! :)) ✌️
Luke P.
Hello everyone :)
Channabasava (Polygon CM)
Let’s have a short round of introductions!
Lukas S.
I think then i will start here right away :D to keep it short, my name is Lukas Schiefer, i am 32 years old and living in Austria next to Vienna.
Luke P.
Hello everyone from my side too, my name is Lukas Pratschner. I’m very happy to be here with all of you. It’s actually an extraordinary pleasure to be here today, since I’ve been in Crypto since 2017 and as an enthusiastic investor and researcher. At that time I never thought that I would ever dive into this area that deep. Through regular, almost daily research, I was able to build up a good picture and understanding over the past few years. But the desire to help with your own hands and effectively expand Crypto and its wonderful community to the mainstream grew with every day. ethbox stands for this vision. And through security, simplicity and the will to stand up for the community – together with the community.
Far away from Crypto, I’ve been working as a chemist & quality manager for more than 10 years, where I train apprentices in chemical process engineering, quality control and laboratory technology. Furthermore, I have been working in the field of quality management and environmental management for years. All of this at world-renowned companies in the chemical pharmacological field. Most recently for a large accredited company in the field of certification, auditing and inspection.
Paul S.
Sure thing – Me, I’m Paul Simode from Austria, 32 years old as well, and (is anyone seeing a pattern yet? hahah) have been very close friends with Lukas & Luke pretty much ever since, for half our lives or so. Aside from various projects we participated in & worked on throughout our early & not-so-early lives, it was our mutual interest in technological development and the immense possibilities that come with it, that brought us all to the blockchain:
Personally, I haven’t been as much a crypto enthusiast as Lukas & Luke before I started planning, creating & developing ethbox, but quickly gained traction once I noticed what could be done on-chain that would be close to impossible (or actually, that) with conventional off-chain mechanics.
As a genuinely curious, always-interested, eager-to-learn person, I’ve always been the guy to jump straight into various fields of activity, science stuff mostly, and eventually find the best way to combine all of it. For around 20 years, I’ve been engineering, developing and tinkering with pretty much everything technical, from motorcycle engines to electronics, chemistry, physics and most of all computer development, specifically focussed on C/C++ and low-end security-related Assembly stuff, reverse engineering etc.
This being said, that’s what I bring to ethbox. It is my greatest pleasure to be able to make this effort together with my close friends, and the wonderful people we’ve come to meet so far along our journey through the crypto space, both our partners, as well as our faithful community – Here’s to you all! ♥️✌️
Channabasava (Polygon CM)
Thank you for the introductions Guys! It’s really amazing to have you here. Let’s get started with the first question
Question 1
Please tell how your crypto journey started and what inspired you to start ethbox?
Lukas S.
How it came to ethbox is a good question .. I actually sent one of my first transaction to a wrong address. In the panic of fomo back then i copied the wrong address and yeah.. these funds are still there :D
Years passed and at some point Paul,Luke and me talked about the mistake and discussed various possibilities how we might can solve this issue. After Luke and me convinced Paul about blockchain and understanding the underlying technology we found our solution.. Sending Cryptocurrency to the wrong address – How to ensure safe transactions on the blockchain and make it possible to revert the transaction once its “done” to ensure the correct recipient receives the funds.
So basically this was the start about founding ethbox and when time past we found more and more tools we included into our escrow service, like our “trustless OTC” method or to get increased privacy etc. We are very happy to had good connnection in the crypto space and with the help of our supporters at DuckDao we were able to build something big. We are more than proud to be part of it and our journey just started, the engine just getting warmed up :)
Channabasava (Polygon CM)
Question 2
Please tell us more about ethbox and its features, how is it different form the existing competitors. Why ethbox should excite the users?
Luke P.
Well, like Lukas already mentioned we provide different features and products, our main product is our escrow service.
Being able to revert transactions in case you made a mistake, which is not so uncommon in the stress of everyday life. It was very important to us that we offer a 100% easy & safe solution for doing an OTC trade with ethbox interacting as a decentralized intermediate or so to speak a digital trustee. For our token holders we obviously wanted to keep as much utility for the EBOX token, so we implemented different features like our “In-Wallet” staking or transactionless governance and some more. All of them with maximum user friendliness & security.
Since our community (shout out to all EBOXERs out there 🙌) really liked the way we are offering safe staking, other projects came to us and asked for these products.
So we created our B2B & B2C solutions, offering our services to other projects & business partners. Examples for these B2B solutions are offering our unique “In-Wallet” staking as a service, the transactionless governance process, ethbox multisender, claiming portal, wallet linker and much more. Feel free to check them out in our Whitepaper v2, which we released over a month ago.
Besides the In-Wallet Staking it might make sense to highlight our ethbox Investment Platform Service which is actually finalized and right now in the test phase – this actually means our so-called eIPS will be live very very soon.
If you want to dive in deeper, I can only recommend again to have read in our whitepaper, where you find an extremely detailed description of all our upcoming products.
Have good read over here: https://ethbox.org/ethbox%20Whitepaper%20v2.pdf
Thats what differs us from all the others.
Channabasava (Polygon CM)
Question 3
What are the major milestones ethbox has achieved so far, and what can we expect from you guys in the future?
Paul S.
Looking back to our launch in February this year, it feels a bit like an eternity rather than three quarters of a year, in a pleasantly fulfilling way though. Since the initial ideation of ethbox, there has been a never-ending stream of creative ideas and input both from our side and from our eager community, always lending us a hand to shape ethbox into the best possible version. Cheers to all our people, you know who you are! :)))
The first product we developed and launched is our On-Chain Escrow service, something that we saw as urgently missed in today’s crypto space, enabling users to safely transact funds without any fear of sending to a wrong address by mistake, together with trustless DeFi OTC trading and added privacy.
Start using it right now at https://%3Ca%20href=/app/“>https://http://www.ethbox.org/app/ (also available on testnet for playing around and getting a feel of it)!
Alongside, we came up with an innovative concept for In-Wallet Staking and Trustless Governance, which we provided to our community for vastly increased safety & ease-of-use in comparison to conventional staking and governance solutions.
As ethbox evolved and grew, we saw the need to extend our ecosystem by driving further business pillars into the ground, strengthening the position of ethbox in the crypto industry.
In an ongoing effort to turn our visions into reality and create a better tomorrow for everyone in crypto and outside of it (eventually), we established the ethbox Business Solutions branch, providing our In-Wallet Staking and Trustless Governance for other crypto projects to integrate and serve their user base through a piece-of-cake API.
Adding both to our B2C and B2B branches, we are currently working on the On-Chain Escrow v2, and we’re right in the middle of finalizing the ethbox Investment Platform Service (eIPS), a smart contract based complete solution for pre-sale pool groups & VCs to easily handle the entire sale for an arbitrary amount of users, with fully customizable parameters and conditions.
Paul S.
We’re not halting here, there’s a lot more to be done – Check out our recently released Whitepaper v2 and have a look at what we’re developing, alongside what was just presented. Find out about our marketing, our token utility (closely interwoven with the products we’re developing and our own deployment of In-Wallet Staking and Transactionless Goverannce) and additional plans we have for our future, sailing towards mainstream adoption of services & solutions that make crypto a safer place to be for everyone involved.
Backed by strong partnerships, we’re on a journey to establish our name and find further, additional interesting, innovative and supportive partners to team up with. At this point, we want to give a particular shout-out to our friends & partners at DuckDAO, our number one partner and supporter since before day one. We have something super-juicy coming up with the staking model (*cough* NFTs!) we tailor-made specifically for your needs!
This all being said: The journey has only just begun… :)) Stay with us, take a seat as long as there’s still places, and make sure to be along for an incredible ride to outer space planets ✌️🚀
Channabasava (Polygon CM)
Question 4
Can you tell us a little about how your experience was building on Polygon and what are the advantages of ethbox working with Polygon?
Paul S.
Absolutely – The first thing one notices when switching to Polygon from Ethereum for the first time is probably either the blazing-fast transaction speed, making you wonder if you’re on some kind of testnet or simulated blockchain… or the seemingly non-existent transaction cost, making you unbelievingly double-check through PolygonScan to see if there’s actually fees on this network.
The second thing to notice is obviously the other of these two, and by now, it’s probably clear that I was speaking of my own personal experience here, haha… :)) I was genuinely blown away without a hint of exaggeration when I used Polygon for the first time, with the frame of reference having been Ethereum at that time.
It’s almost incredible, and certainly hard to describe, to witness such on-chain transaction dynamics and the potential they open up for everything that’s DeFi in crypto right now… Which is already a huge lot, and will be an exponentially huger lot in the future.
People want and need to interact and transact with each other, and enabling this is kinda the essence of the blockchain, the way I see it. This is what Polygon does, making a huge leap in how easily it is for individuals all over the planet to connect with each other through the blockchain and DeFi.
At ethbox, our solutions rely heavily on smart contract DeFi – It quickly becomes obvious that, for example, having users send each other funds through our escrow service while paying higher expenses for the network fee than the actual amount of funds being transacted… is not an interesting thing to do.
As we want everyone everywhere to be able to take part in the blockchain, we need to be as inclusive in our reach-out efforts as possible. This means that doing $1 transactions needs to be as feasible as doing $1000 transactions, no matter the reason. There’s just no reason for this to be different.
This being said, becoming part of the Polygon ecosystem gave our development a huge boost in potential, enabling us to develop even more intricate solutions that tackle more complex, elaborate problems, all while still presenting the user with an easy-to-use, bulletproof-safe solution. Thank you for this, team Polygon – Keep up the great work! ✌️ :))
Channabasava (Polygon CM)
Question 5
What are the security measures taken by ethbox?
Paul S.
With the increasing pace of our world today and the financial transactions taking place in it, putting one’s trust into an unknown piece of code on the Internet has become an everyday thing. This comes with a plethora of potential failure points, both on the user side, and on the back-end software side.
Our rich background in software engineering, specifically in regard to low-level security technicalities, coupled with our well-established social awareness of what goes on around the cryptosphere, enables us to be fully aware of what could go wrong, and where.
Having this attitude in mind as one of our guiding stars since before day one, ethbox was created and developed to be a project that handles safety & simplicity right at the core, and from there on outwards, in every other layer and aspect.
We strive to design our user experience (website, various interfaces and dashboards, etc) as streamlined, non-overloaded and easy-to-use as possible, with thought-out hints and messages that guide the user and avoid mistakes in the first place, by letting our users know what’s going on. The purposeful simplicity of our products makes this an easy task, almost as if we had planned ahead, hahah… :))
Behind all this, in the engine room so to speak, is a clockwork of minutely designed code that is made to work in the same way as everything we do, being simple, straight-forward and safe.
Every product we develop minimizes the need for users to put trust in the hands of ethbox – Even though we see ourselves as highly trustable both as a corporation and as the bunch of individual crypto enthusiasts we are, we see no necessity in storing user’s funds & data longer than necessary or at all. All our smart contracts and data solutions are engineered with this in mind, always passing funds through to whichever end recipient if possible, and never storing more data than is absolutely required for the contract to do its job (also encrypted, where possible).
All this being said, it would be dishonest to claim that software could ever be perfect – The one only thing that can make the last key difference between “software that looks safe” and “software that actually is safe” is good old-fashioned human judgement.
As our last line of defense, one that is absolutely mandatory in order to actually deliver a product that can be considered safe-to-use, we employ both our own wide-spectrum experience in general & crypto-specific software development, and our solid, trustable auditing partner CertiK Foundation.
Every smart contract we release for the public to pass funds through will always be subject to an audit with them, and we’re even looking to further extend our security on this front in the future, by additionally double-checking with one or two other well-renowned audit companies.
Channabasava (Polygon CM)
Question 6
What will the future of ethbox in crypto space look like? Can you talk to us about your roadmap?
Luke P.
Our vision was & obviously still is the claim to make the space much more safer, more tangible and user friendlier for the consumer. That is the goal that we want to continue to meet the highest standards. Be it through other unique tools in the DeFi area or through a network of valuable partnerships and joint ventures. This is not only important to us as a project but also as blockchain enthusiasts in private.
Regarding Roadmap let me tell you some details:
Our upcoming new brand release in November will be massive – it comes with new design, new logo, combined with great marketing activities should help to spread the word. The whole team is very excited about the upcoming weeks.
Next to the rebrand we will release our investment platform service eIPS which will increase the utility of ethbox and help on all fronts. If it is about the marketing to sell our solutions, or to activate our token utilities like our pay-out or token-burn.
Next step is our Mainnet v2.0 which will have NFT integration and will further offer different API solutions to make it as easy as possible to implement ethbox service for example an exchange.
Beside our already known products I am personally very excited about our “Wallet-linker” feature or our browser extension, these will be great ways to give the users new opportunities to use our service and benefit from our way to handle things.
Channabasava (Polygon CM)
Question 7
Before we conclude, I think there are many in the community who would love to join ethbox and stay up to date with all the news. What’s the best way to keep in touch?
Lukas S.
The best way to keep in touch is to follow us on our telegram channels & Twitter :
Official: https://t.me/ethbox_official
Announcement: https://t.me/ethboxANN
Twitter: https://twitter.com/ethbox_official
We have a very dedicated team and a funny community. You might get some beatbox beats, hand drawing and other things which will enlighten your day :D and always help if anything is needed… for example claiming your monthly staking rewards or something else
Soon you can sign up for a newsletter on our website, check out our website, there you can find all our products http://www.ethbox.org
Any feedback and discussion is always welcome because that’s the way we can find new features or improve our products.
We always try to be in touch with the community and will constantly have AMA sessions with our own community to keep them always updated.
Paul S.
Definitely do have a look at our website within the upcoming weeks, it will be a particularly interesting place to visit after the completely redone brand identity we’ll be launching shortly, together with an outlook on how the ethbox Investment Platform Service and other newly developed services & solutions might look & feel! 👌
Channabasava (Polygon CM)
Question 8
What’s your strategy to educate people about ethbox & incite crypto users to try your escrow service for their own safety?“
Lukas S.
We are preparing content for all kinds of different channels, but one of the most important things is constant outflow of content.
Give people different opportunities to get in touch and learn about different products. Beside delivering constant content, flexibility is very important.
We will have different methods in play, such as a customized referral system or other incentives for the community to try out our services.
As we are ourselve part of the community I think it’s very important to listen to the crowd and see how things are seen by them. Then we will see on which front there is a gap to get filled.
The people benefit from using our products, and our work is to make it as easy as possible for new people to join our community and benefit from different services products
We will soon start our community events again where different bounties need to be done using our products in all different ways. That’s another great way to get people used to the products, but again they are just a piece of the whole thing and we are more than happy to explore more different opportunities.
One of the upcoming will be our liquidity provider bonus program to name one, but we will announce all the stuff around that as soon as its ready :) next few weeks are definitely going to be very interessting from a lot of different point of views :)
Channabasava (Polygon CM)
Question 9
Can you you tell us more about EBOX token utility & how its use case will increase along with what you’re developing?
Lukas S.
$EBOX has different utilities starting by a reduction for service fee, some ethbox services will have an implemented fee, where you have different reductions depending on your holding
Transactionless governance offers ethbox holders the chance to take part in different decisions, in that particular case we found a fair way to give holders a free way to participate. https://ethbox.medium.com/ethbox-introducing-governance-540f237cda3e
With a simple click on this link have our governance explained & also our formular on how we calculate the balance and their power.
ethbox offers a simple way to earn staking by just holding your tokens in your wallet, There is no need to lock your token inside a smart contract. There are different bonuses applied like long term bonus, holding partner tokens, providing liquidity.
There is a fixed amount of monthly staking reward distributed to all holders: A detailed explanation about our staking model is here: https://ethbox.medium.com/introducing-ebox-staking-rewards-4c65c07fc89d
Beside earning passive yield by the staking mechanism, ethbox shares 25% of all generated fee to the token holders. We already had our first payday and the second is near to come :)
Last but not least has the token a deflationary system, where 25% of collected fee we will use to buyback and burn EBOX to ensure long term growth.
We will always try to give as much utility to EBOX as we can since we know its about the community. New services will give new ways to implement ebox token and we have already some in our minds. :))
Channabasava (Polygon CM)
Question 10
Any insider info on development/partnership… would you like to share with the Polygon community prior to announcing it officially to your community?!
Luke P.
We recognized that somehow this evolved into a trend so we want to keep most of this information with us by now to make it a bit more interesting for the community, BUT this doesn’t mean we won’t share some exclusive news with the polygon family.
The last few months showed that we need to offer EBOX on a few more different platforms. While having the AMA with you, the Polygon Family, it might be the best time to announce we are going to have a governance voting regarding listing on a Polygon supporting DEX, more specified on Quickswap and wrap $EBOX token into the Polygon Ecosystem. For us, as a DeFi tool providing project it is very important to support decentralized exchanges. We are preparing all the information and will start our 4th Governance based voting in the first two weeks of November.
There is a ton of exciting stuff coming up in the next few days regarding our rebrand, stay tuned and follow all our channels. The sneaky previews regarding our rebrand will start very soon!
Before that, kudos to our marketing partners at between.collective for their great help, work & engagement for ethbox. Shoutout to J & V ❤️!
That being said and as already mentioned our rebrand has been in preparation for a long time and we are very proud with how our new brand & CI has evolved into something big. We haven’t really spoken much how it will look like & above all WHEN the release of the new brand will happen – until now!
We worked hard for it & finally the day is very near, so to be a bit more exact let me exclusively announce that our rebrand will happen around mid of November 2021.
Channabasava (Polygon CM)
Thank you for the insightful reponses. Now let us open the QnA session to the community
Emre Koşun (Community member)
It was an informative meeting. Thanks.
Stay tuned.
Ebox ✨💫
Wm (Community member)
Great AMA. Thanks Polygon and ethbox.
Luke. P
Thank you everyone for being with us :)
Wm (Community member)
For the marketing, will there be any KOLs to join ethbox?
Lukas S
yup definitely we are going to work with some, the next few weeks will show some of our strategy and with the upcoming rebrand it will make sense to spread the word as good as we can :) personally really excited about november ❤️
Nikita (Community member)
will there be transcript of the AMA to share @Lukas_ethbox
Great ama btw
Lukas S.
yup i think the question are good to give a quick overview – thanks for that btw , we will have a transcript and share on our medium, follow https://t.me/ethbox_official to keep updated :)
Thank you all for having us 👌
Nikita (Community member)
Awesome thank you 🙏 hyped about the new branding 👏 we need to spread the word about ethbox much much much much more cmon people 💪💪💪
Channabasava (Community member)
Thank you community for being the part of the ethbox AMA.
Thank you @Paul_ethbox @Lukas_ethbox @Luke_ethbox for the informative and insightful session!
Paul S.
Thanks for being our host & having us with you today! :) Cheers to everyone who’s been with us through the AMA, join our Telegram channel, visit our website & stick around for an awesome round! Have a wonderful day! ✌️
What is ethbox❓
ethbox is an escrow service specializing in security, privacy & effectiveness for the OTC cryptocurrency market.
ethbox is addressing the issues related to losing transactions, adding some privacy, & providing a safe path for your OTC trades or for your daily transactions.
ethbox: your 🏠 for all transactions on BSC, Polygon & Ethereum.
B2C Services:
🔹️ Safer Sending
🔹️ Secured P2P-transactions
🔹️ Privacy feature
🔹️ DeFi OTC-feature
It serves as a trustable, transparent & always-valid intermediary between two parties willing to send cryptocurrency one way or both ways.
Instead of sending funds directly to each other, funds are relayed through the ethbox smart contract…
B2B Services:
🔹️ Staking as a Service
🔹️ Governance as a Service
🔹️ ethbox Investment Platform Servcie
🆕️ Wait to see what our mainnet v2 got in store for you!
📸 About EBOX token utility.:
▶️ Reduced service cost/fee for all ethbox services by holding EBOX token.
▶️ Staking generates passive income for EBOX holders for 4 years following TGE.
▶️ Regular payout of profit share to EBOX token holders.
▶️ EBOX is a deflationary token, guaranteed by buying back & burning part of the generated fee.
▶️ Governance gives voting rights for upcoming project-related decisions and enables EBOX holders to actively participate in the development of ethbox.
ℹ About EBOX token.
Smart contract Address❓
0x33840024177a7daca3468912363bed8b425015c5
Decimals: 18
Ticker: EBOX
ℹ Where to buy EBOX token or add liquidity❓
🔹️ Uniswap v2: EBOX/ETH pair.
https://v2.info.uniswap.org/token/0x33840024177a7daca3468912363bed8b425015c5
🔹️ PancakeSwap: EBOX/WBNB pair.
https://pancakeswap.finance/info/tokens/0x33840024177a7daca3468912363bed8b425015c5
🥇 Try us: our escrow service is free to use!
