On October 10, our AMA manager Phuc had a live AMA with Xquad (CMO of Gather) on BCT Blockchain Community telegram chat.
First step: Introduction
Phuc: Today, Mr.Xquad will directly answer questions from members of the community BCT blockchain Group and sharing information plan, upcoming Gather targets. Before starting the program I would like to briefly introduce the program so that everyone participating in the AMA session will know.
Xquad: Hey everyone 👋
Phuc: Hi
It’s a pleasure to all of you who participated in the AMA today.
Looking forward to have our audiences to know more about the project and the views.
Xquad: Likewise, thanks for having us here.
Phuc: First of all invite you to introduce yourself
Xquad: Hi everyone again, this is Ayhan Gungor, I’ve been working as the chief marketing officer of Gather Network for the past year. My experience spans across 18 years in sales & marketing; worked in roles such as a marketing manager, product manager in a multinational manufacturing company within the energy industry for long years. Joined the blockchain industry in 2017, and since then worked in another PoS/MN blockchain project for community management/technical support, business development, partnerships & cross marketing, as well as administrative matters.
Phuc: Thanks for this impressive information. We will go over the next question.
Phuc: Ok, let me briefly introduce Gather, I’ll use images as well
Phuc: Ok, let me briefly introduce Gather, I’ll use images as well
Xquad: Gather is a platform that allows publishers to monetize without ads, provides businesses & developers to access cheap and reliable processing power.
- Gather Online (Layer 0) allows web & mobile developers to monetize from their users processing power.
- Gather Network (Layer1) is the protocol layer, a hybrid proof of work and proof of stake blockchain, where stakeholders are incentivized to maintain transparency and security.
- Gather Cloud (Layer 2) provides affordable processing power to enterprises and developers.
Gather Enterprise provides consultancy services and tooling for developers, businesses and crypto networks.
Phuc: Thanks for your sharing
Xquad: The company had the seed round in 2018. This was used for development but it eventually ran out, and the bear market conditions did not make it any better. Then, the founders self-funded with life savings and kept building throughout the last 3 years. Eventually, as the market conditions became better, we had a private sale round, oversubbed 25x with notable investors such as Bitscale Capital, TRG Capital, Master Ventures and LD Capital.
Our prototype is tested for about a year with early adopters, so we have a minimum viable product which we are further developing right now to adjust to our mainnet specs. We plan to bring our testnet live by the end of 2020, and move forward to our mainnet by March 2021.
I will provide more information about our partners in the following questions.
Some of our investors I mentioned above
Phuc: Feeling quite excited about this project, sir. I think everyone will love it and support it as well.
Xquad: Thank you :) We are very excited as well.
Xquad: Done.
Phuc: The program consists of 2 parts
Part 1: We will select 5 questions on the form and will be sent directly here
Part 2: People ask questions about Gather to guests directly (will choose 5 questions to award)
Phuc: let’s get into ama’s question !! Are you ready? @xquad
Xquad: Yes, let’s go :)
Phuc: Okay
3
2
1
Start
Question 1: Adoption and business development are essential for expanding your ecosystem. Can you explain what you’re actively doing to get GATHER Network ‘s technology into developers hands and how will this lead to the creation of more DApps?
User question: @huizerm
Xquad: A good question here, there are multiple ways Gather is giving the power back to the developers.
Xquad: If we want to talk about them briefly:
1) With Gather Online, application developers can integrate our code easily to their applications and they can start generating additional revenue as their users spend time on the application. When their application is opened, our banner will ask for users’ explicit content to share their processing power.
2) Using Gather’s loyalty program, developers can reward their users for the time spent on their applications by sharing a percentage of the revenue they generated with Gather Online. This is an important aspect from an adoption perspective as developers would be able to reward their users with crypto currencies, where the users can be first time crypto users.
3) If there is a native token used by the developer, it can be integrated into Gather Online as a payout option
4) Via Gather Cloud, if a PoW developer wants to create a new chain and does not have a miner community, they can build it on top of Gather Network, using the hashrate coming from websites and applications.
Done.
Phuc: Yeah, that’s the way we all see great projects do, a very clever way to use money
Thanks for an detail answer xquad
Xquad: You’re welcome
Phuc: You’re welcome
Question 2: Can you please tell the investors that currently how many people working as a team , their backgrounds & credentials, and their achievements. And what companies are you partnered with or seeking to partner with in future
User question: @giausangsoon
Xquad: Core team and advisors are about 12 people, with the developers we have around 22 people working on the project. I’ll use an image here for the profiles.
Xquad: I don’t want to brag about it but our team includes A+ advisors, with deep roots to the blockchain ecosystem who took active places in launches of the well known projects. To give an example, our Tech Advisor worked for the likes of Status $SNT / Opera and our Marketing Advisor is the former regional director for Publicis Groupe. You can see all the profiles under https://gather.network/about-us.html
Xquad: Done.
Phuc: It is a very detailed answer and I have understood more about how Gather works. really nice Xquad
Phuc: It is a very detailed answer and I have understood more about how Gather works. really nice Xquad
Question 3: Adoption hasn’t been a problem GATHER GATHER lately since its price and volume has been increasing. What is your strategy to keep the value of GATHER stable and growing to prevent critical lows that wouldn’t allow the coin to have a firm possition in the competitive and growing criptomarket?
User question: @Dalksoi
As a project team, we are not in a position to give financial advice for investments.
$GTH token supply and demand mechanics have been designed to ensure that all parties are rewarded for participation and incentivized to help grow the ecosystem.
This helps create and maintain a balanced ecosystem. A major demand driver comes from the enterprise side, usage fees and the required node collateral. As we on-board more publishers, the demand side would grow as well. You can read further here for details: https://gather.network/docs/Gather_Token_Economy.pdf
Done.
Phuc: I think we should start with question 4, I can’t wait to know more about Gather now Xquad.
@xquad are you ready?
Xquad: Yes, please :)
Question 4: What are the great achievements that Gather Network has achieved so far? What difficulties and risks did you encounter during project implementation and what factors helped motivate you to overcome difficulties?
User question: @nhiquocw
Xquad: We have around 200 publishing partners via Early Adopters Program so far, including names like ThePioneer (India’s oldest newspaper), TheDailyChain (a crypto news site), Ferrum Network (for staking website and mobile app) and Decentr (as a new web browser). We will be running campaigns to raise the awareness of Gather Online as we get closer to the mainnet launch but in the meantime we will carry on and bring more partners with our B2B marketing efforts.
We’re currently testing Gather Cloud with Godrej Industries ($4B+ turnover) and we got ASAP Industries on board for the enterprise side. As part of our B2B business development efforts, we will also continue adding new enterprises.
Again for Gather Cloud, we are also building new connections with the other PoW blockchain teams where we can use their algorithms as part of our Merged Mining concept. For example, LUX chain is our first partner on this front.
I’ll share an image for traction
Coming to your question about the challenges and how we overcome these; Having big enterprises or websites on board is not an easy task, there are factors to take into account such as getting connected with them in the first place, security and transparency concerns they have against new solutions and providing a totally new innovative way to reduce their costs by changing their habits.
So it is a big challenge for us where we need to grow our existing network and find alternate ways to pitch these companies, to prove the security and transparency of our solutions to them by Proof of Concepts and finally to convince them to change their existing methodologies by leveraging our advantages. This is exactly why our marketing approach and activities under Gather Enterprise will be towards educating the market for alternative ways to generate revenue via websites/apps easily, with or without ads and to let enterprises access affordable processing power costs.
Xquad: Done.
Phuc: It is definitely good news for Gather fans ^^
Thank you detailed answer Xquad, let’s continue to last question
Question 5: Many investors only focus on short-term prices and ignore the actual value of the project! Can you tell me the motivation and benefits GATHER investors GATHER long-term GATHER?
User question: @Hovoiu
Xquad: GTH’s value is derived from being as a medium of exchange within the ecosystem along with providing holders the opportunity to vote on the future of Gather. The specific features that use $GTH as a medium of exchange include:
1) Gas Fees and network interactions charges, settlement and processing power related charges for the Gather Cloud, and Settlement of Gather Online Rewards.
2) Providing a financial incentive to nodes to act honestly.
3) Entitling Staking holders with the right to participate in the governance and future of the Gather ecosystem
Xquad: Done.
Phuc: question 5 is also the last question of part 1. we will get to part 2 immediately upon Xquad’s prepared confirmation.
Xquad: I’m ready to go :)
Phuc: Okay, I’m also very excited
Part 2: 5 good questions will be randomly chosen by Xquad.
Part 2: People ask questions about Gather to guests directly (will choose 5 questions to award)
Phuc: Wow, too many question now
Let choose 5 best questions @xquad
Xquad: Wow :) I will need some time to go through them, please allow me so. I’ll reply shortly.
Phuc: Good
I think there are over 1000 questions
Question 1: At the moment , where you are focusing right now ? building and developing product or getting customers and users, or partnerships ? Could you share it? Username: @ontortk
Xquad: We are currently putting heavy focus on development, as mentioned earlier we plan to bring our testnet live by the end of the year and mainnet live by March 2021.
This does not mean we won’t do any marketing activities. As you witness here, we are organizing many AMAs to build grass roots communities which know about our project and the value it brings.
Apart from community building activities, we will definitely be onboarding many new partners.
The product also sells itself as it provides a profitable and enhanced user experience compared to digital advertising. We are having daily registrations to our early adopters program on our website (which is closed currently but we will contact these people when the program is back live).
I’ll also share some of our partnership news from yesterday so you’ll see we are not stopping in any way :)
We’re proud to announce the #partnership with
@DIAdata_org 🤝
$DIA payouts will be integrated to Gather, while the payout mechanism in Gather will use DIA’s price oracle infrastructure to provide secure, transparent & instant data for stakeholders.
Read more: https://bit.ly/Gather_Dia
We’re excited to share that $GTH will be integrated into the @PolisPayOfficial Wallet.
You will easily use and spend your #GTH over 40 countries with debit cards.
Explore more about the upcoming integration details here:
https://bit.ly/Gather_PolisPay
$GTH is now listed on Unifyre Wallet, and will be live soon for web staking using @Ferrum_Network infrastructure.
Details of the staking pools will be announced soon.
Phuc: Congratulations @ontortk for winning the first question
Question 2: How profitable is Gather Network as a content platform wiithout ads, What is the role of publishers and viewers in the economical model of the ecosystem? Username: @Rosane1a8
Xquad: When compared to existing advertising rates, Gather Online provides x1.4 better profitability based on the observations on our MVP testing period. Consequently, adding Gather Online to the websites or applications will allow publishers to earn at least x2 of their current revenue or will let them go ad-free for a better user experience. These numbers are subject to change based on number of sessions, session lengths, coin prices and total network usage utilization.
The publishers (website and application owners) are who we get the processing power from via their visitors and users, so definitely they are the essential part of the economic model. Again for further details in our token economy, please refer to https://gather.network/docs/Gather_Token_Economy.pdf
Phuc: Congratulations @ Rosane1a8 for winning the next sentence
Chúc mừng @Rosane1a8 đã chiến thắng trong câu tiếp theo
Khuong: Two good questions have been selected and answered
Phuc: Please pick the next question
Let’s take the 3th question
Khuong: We continue to search for the next 3 questions
Question 3: To put it bluntly, the blockchain projects in the world in general and in the world in particular, the reality of the project is still on paper. So what goals do you have for your platform and users to connect closer together, and furthermore, to generate profits for both parties? Username: @Noname7229
Xquad: I believe we should clearly mention about our revenue/profit structure here to show how every party benefits in our ecosystem.
Gather generates revenue from all layers of the network, which includes publishers/websites/applications at the start and enterprises using gather cloud at the top. Gather will charge a commission to websites/publishers/applications using the Gather technology. The processing power generated from the websites, is then redirected to child chains through merge mining and/or enterprises on Gather Cloud.
Hash rate leased out to child chains to increase their security will be lower than market price. Enterprises that are using Gather cloud will also be charged at a discount to market rate (determined by google/AWS rates) for the processing power used by them. The majority of this revenue will be redistributed back to the publishers with Gather keeping a small portion as the commission, and thus keeping profit linked directly to growth of the network. This creates a positive feedback loop where increased publishers using Gather online means more processing power can be redistributed through Gather cloud which in turn increases the revenue of Gather online users, attracting more customers to gather online leading to more processing power and so on.
Within these mechanics, using Gather’s loyalty program, publishers (website and application owners) can also reward their visitors/users for the time spent on their applications by sharing a percentage of the revenue they generated with Gather Online. This is an important aspect from an adoption perspective as developers would be able to reward their users with crypto currencies, where the users can be first time crypto users.
Phuc: Wow
That’s a very good question
Phuc: Congratulations @ Noname7229 for having the good fortune of winning the next question
Chúc mừng @Noname7229 đã may mắn chiến thắng câu hỏi tiếp theo
Khuong: That is a very good and detailed answer
Phuc: Looks like he worked really fast
Khuong: It’s correct! That is why we should trust Gather
Phuc: Let’s continue to work, Xquad
Khuong: Very fast and professional
Question 4: What is the release schedule of tokens? Am I able to participate in the network during the one-year holding period?What jurisdictions are eligible to participate in the sale? hi @xquad Username: @hasdeiu
Xquad: Let me share the vesting and release schedules of tokens below this reply.
There are currently 18.5 million coins in circulation (out of total 400 million).
Seed and Private sale complete, and $GTH is listed on Bithumb Global and Uniswap for now.
Bithumb Global: https://www.bithumb.pro/en-us/exchange/professional?q=GTH-USDT
Uniswap: https://uniswap.info/pair/0xb38be7fd90669abcdfb314dbddf6143aa88d3110
Contract Address: 0xc3771d47e2ab5a519e2917e61e23078d0c05ed7f
Phuc: Continuing to be a good quote from @hasdeiu’s side, luckily won
Tiếp tục là một câu nói hay của bên @hasdeiu, may mắn trúng thưởng
Phuc: Let’s go for Q5 xquad
He will have an answer soon
Continuing we will have the final winner soon
Question 5: /What do the Gather Network team think about DeFi? Does the team have a plan to integrate DeFi into Gather Network platform? Username: @FFdior
Xquad: First of all, we should underline Gather is not a DeFi project. In the means of DeFi, Gather already has passive income elements such as web wallet staking or masternodes. However, our product adds another dimension to the existing DeFi websites and applications, by adding an option to reward users for using these websites and applications. So, with Gather Online you can actually earn more tokens while using DeFi websites and applications so it’s a complete new approach.
I suggest everyone to have a read on these articles to understand how Gather can be the missing piece in the DeFi puzzle and how Gather can create competitive advantage for DeFi platforms:
1) https://thedailychain.com/gather-the-missing-link-of-defi/
2) https://bit.ly/Gather_Ferrum
3) https://bit.ly/Gather_Decentr
Phuc: We find the final winner pretty quickly
Xquad: Thank you very much for hosting Gather here today and for the amazing questions.
For any further question, please follow Gather Network social accounts below and join them. We’d be happy to reply :)
Have a great day everyone!
Website: https://gather.network
Twitter: https://www.twitter.com/Gather_Network
Facebook: https://www.facebook.com/GthNetwork
Reddit: https://www.reddit.com/r/GatherNetwork/
Telegram
English: @GatherNetwork
Announcements: @Gatherannouncement
Russia: @GatherNetworkRussia
Indonesia: @GatherNetworkIndonesia
Turkey: @GatherNetworkTurkiye
Korea: @GatherNetworkKorea
India: @GatherNetworkIndia
Vietnam: @GatherNetworkVietnam
Japan: @GatherNetworkJapan
Phuc: It was @FFdior that won our final award
Trung: I will pin this message soon sir
Phuc: Thank you for taking the time to this ama session
This will also be the wonderful ama recorded at BCT Communit
Great ama @xquad
— — — — — — — — — — — — — End AMA— — — — — — — — — — — — — —
