AMA and updates
AMA with Nerd Finance
We had an AMA with Nerd Finance. A lot of users have requested the transcript so here it is below:
What’s the elevator pitch for Saren?
Well, in short I am aiming to create decentralised tools for the community. Like a decentralised coingecko, crypto reddit and wikipedia, decentralised patreon etc.
You're starting with a decentralized CG right?
Yes, the beta is already live here - https://cerberus.saren.io/ Coingecko tokens can be imported in a permissionless way already within seconds and uniswap coins need a proposal which is then voted on by $SAR holders. We have other chains being integrated soon like BSC Lamden, etc.
That's great! quick question... is there a darkmode?
Haha, that is the most requested feature. Currently I have 4 major milestones set to release this year, we have already released the first one. I am going to make an announcement regarding the rest next week. But to answer your question, we will have the Dark mode ready in Milestone 3. Users can still use dark reader extension to view the DAPP in dark mode, it looks pretty great.
So what's your favorite feature on Cerberus?
Has to be the ability to view tweets instead of going on twitter, I find it really tedious to find the link for each crypto company's twitter and checking them manually. Which is why I integrated twitter directly on the coin page. Users can view the 10 most recent tweets of all coins that have a twitter handle attached.
What about the Hodl strength?
Well that is my second favourite feature haha. HODL strength basically compares the number of hodlers we have with chainlink using a set weight. Eventually I want to improve on this rating with number of whales, token concentration and use other advanced analytics.
So a bigger score is better?
Yes, projects should aim for 100%, but that is extremely hard to achieve.
I see it skews toward higher cap projects.
Yes, lower caps tend to be more volatile. Take $SAR for example, whenever a whale dumps we go down 20-30%. Our HODL strength is at 0.4% currently, and this trend is in line with that metric.
How does the token fit in into this?
Well, currently it is already being used in the voting mechanism - every time there is a coin proposed to be imported from uniswap, $SAR holders need to vote to get that coin listed on our DAPP. You can see currently there are 3 coins that are proposed to be integrated on our voting page - https://cerberus.saren.io/voting/ Over time, there will be a tiered structure for advanced features that will only be accessible to SAR holders. And the subscription protocol will airdrop part of the fees generated to holders as well. There are many use cases, like the governance protocol etc. which can be viewed on our website and blog.
Nice! Would you like to elaborate on $SAR tokenomics/distribution?
Currently we have 4 wallets - the development wallet, team wallet, liquidity wallet and marketing wallet. I explained in an earlier blog post that I will be locking a lot of the funds this week. I have decided to lock 50% of the supply by tomorrow for 2 years and most of the other funds will also be locked once investor talks are finalised. Team wallet will be locked for 1 year as well in a smart contract along with other token locks. Overall, once the investment deal is finalised, every other token will be locked. We also have a planned migration to Uniswap V3 coming next month. Which should help a lot with the ETH fees.
Very cool, I’m super excited about the power that v3 wil bring to communities to manage their price.
I feel like V3 will completely remove the need for centralised exchanges.
So what's going on with the liquidity wallet?
30M tokens were released for the initial liquidity and I plan to release another 90M tokens over the year in the form of liquidity mining/centralised exchanges etc. As we mature as a project the entirety will be released over the years. This does not mean the tokens will be dumped on the market. They will always be added at the current price.
I feel like it's much better to have tokens available since the dev team is most times the one best equipped to handle that liquidity.
Yes, the community does want the tokens to be locked but I don't want to make any hasty decisions. Once they are locked there is no way to reverse it on Ethereum.
What's the next big thing coming on to Saren?
We are working on new partnerships. For a month old project we already have 3 partnerships and want to continue on this trend. Additionally, we are working on new features like Binance chain listings and of course everyone's favourite Dark mode. Everyone should keep an eye out for the milestone release blog next week for a detailed list of all features.
Where can we keep up with the developments of Saren? I feel its going to be one to keep an eye out for.
"Get rewarded for keeping track of your crypto" is it something like rewarding each step of a person via health / sports tracker app?
There will be a separate token launched that will be paid to DAPP users and advertisers will have to pay in those tokens for a healthy closed economy. This way users will be rewarded for using our platforms
Would Saren have gamification features to stay engaging people more in the platform?
Yes for sure. Keep an eye on the roadmap blog for more information.
Model of Saren relies on any big research survey data that triggered the project? I wonder that first cluster data. What did trader want from you?
We source most of our data from free and paid APIs.
"This subscription model will be censorship resistant and completely decentralised" Will you work with privacy-based initiatives and dVPN solutions to make it completely decentralized and private?
It will be on Ethereum, but once the smart contract is deployed no one will be able to control it. It will be like the Uniswap smart contract, anyone in the world will be able to interact with it freely, make their own DAPPS on it, their own websites for it.
What are you looking for in prospective team members now that you're building one from scratch?
Saren holders, all of the current team members bought Saren on Uniswap and believe in the project.
What are the plans of Saren in place for global expansion, are you focusing on marketing at this time? Or focus on building and developing or getting customers and users, or focusing on partnerships?
We have a mixed focus, for marketing we have realised that partnerships are the way to move forward. But we will always be a development first entity.
How many exchanges are you aiming to be listed at the end of the year? Coinmarketcap shows Saren only on uniswap but one blog post says SAR listed on blockfolio and delta.
Blockfolio and delta are trackers and not exchanges. We aim to be listed on Gate.io and other crypto friendly exchanges. Sadly there are not many. With Uniswap v3 and optimistic rollups being integrated in the next quarter, there won't be much need for centralised exchanges.
Can you list some great features of Saren that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Well for now you can view tweets on our platform that no one else does. You can vote and comment on new listings and you can already import coingecko coins without needing any vote. Additionally, we are working on our own bespoke features like HODL strength which is already live and will be rolling out new features like that soon.
There we see many projects that claim they are fully "Decentralized" . But they did their work in a Centralized way. How can we sure that Saren is fully Decentralized? Can you please tell us what’s your working method?
I'm actually intrigued by this as well. I believe saren.io is currently hosted on traditional servers/platforms as a service, but I'm not sure how viable decentralized hosting is yet (pretty sure it exists but it might be.... Janky to say the least).
We did try to host on Akash Network, but decentralised cloud hosting is not at the maturity for a streamlined user experience yet.
You have around 1200 coins tracked on Saren system. What is your aim to make this figure soon? 3000, 4000?
Currently user's add anywhere from 10-15 coins a day from coingecko and we get around 2-3 new coins from uniswap. As there is more awareness for the project, user's will add more coins. We don't control what coins go on our platform, our users do, so it is completely up to them on how many coins will be listed.
Investors seem to only care about the price of the token instead of the real value of the project, how does your team attract newcomers and keep members long-term with the project? What is the real value of Saren?
Well, I have had a lot of offers for investments and have declined most. I only look for investors that truly believe in the project. Their tokens will be locked for at least.
How does the Saren team generate revenue to sustain the project? & What are your goals to the end of 2021 and beyond?
Currently it is self funded and we all work in our spare time with me working full time on Saren. We are finalising investment deals which should sustain us for 12-18 months. After which there will be a vesting schedule to release more funds. Think of it as the chainlink model, initial development through funding, rest through tokens.
What if a token is reported as a scam at an acceptable level, how would Saren react?
There will be a way to vote out tokens in the future, the goal is to make it truly decentralised, eventually, all actions will be done by the community, like wikipedia but secured by a democratised voting mechanism.
When will the price increase % be updated? For example, right now we are up over 50% but on the cerberus App it says we are down in terms of %)
We have a performance upgrade coming after our rollout of pancakeswap listings. It should be fairly soon.
Can you tell us a little about the potential investors and the journey so far in terms of seeking legitimate investors that believe in the project.
I don't like to hype anyone and will only release investors once the deal is legally finalised.
What are your goals for this week, this month and this year?
For this week, finalise the Business Entity, lock tokens and update everyone on tokenomics. We just hired our first full time employee who would be starting next week so I am currently taking him through the code.
Will there be some mechanism like Twitter-verified users who are more credited as adding and editing content? Or will the community decide such a thing itself?
There will be a governance protocol next year where community can make and submit all sorts of proposals to be implemented Yes, Saren holders will be able to claim NFT badges which will be displayed next to their comments and their profiles.
Do you have any Coin Burn / BuyBack systems or plans to increase the value of $SAR & attract Investors to invest?
We have tokens being locked this week with 50% being locked for 2 years. By then the DAO will be set up and users can decide what to do with them.
I am locking 50% of all tokens later today. Please look out for an announcement on Saren social media links later.