AMA with Phil Zamani, CEO of AERGO Project. 12/21/2018

On the 21st of December 2018, the community of AERGO had an AMA with Phil Zamani, the CEO of the project. The list of the Q&A is below:

1 - Hello Phil, there is a lot of speculations about circulating supply. Please clarify the amount of unlocked tokens at the moment. It is far more than 10% of private + drop. People are afraid of investing because of this unclear situation.

Hi all the info you and the community needs are detailed in a very comprehensive transparency report I just published above on Medium. (Phil)

2 - Why enterprise that will use AERGO need to have tokens, what is its use?

We talked this many times, our BM is not just providing private changes, but also integrated with Aergo main network, They need AERGO for new token business. (Hunyoung Park)

3 - How many tokens required to be a validator on AERGO DPOS

In Testnet, 1 AERGO is enough to stake and to vote. (Hunyoung Park)

4 - Will AERGO have user-friendly wallet addresses?

You mean named account?? yes! you can find it in Github. we will release the article. (Hunyoung Park)

5 - Hello Phil! How can you describe the behaviour of private sales investors as they are selling now much cheaper then tokens were sold to them? Do you think that they are spoiling the projects as they are not showing that they are strategic investors?

Its a free world (mostly) - purchasers have to make their own decisions and judgement...we think our token has performed to plan and well give the very bad state of the markets. (Phil)

6 - Will you update the current circulating supply to CMC? This way more investors will want to invest in the project?

yes - in progress.. (Phil)

7 - Why enterprise that will use AERGO need to have tokens, what is its use?

Please see answers to this question in previous AMA - its the "gas" that drives everything in and around AERGO (Phil)

8 - Hello, Phil. I fulfilled all the conditions: I shared a video, passed KYC on Korbit, fill and sent a Google form December 18, but did not receive a Rewardrop on the Korbit exchange. I want to know why? And my second question. Why did you determine the value of the token for a reward of $0.28, if perhaps it will never cost so much? Wouldn't it have been more honest to promise the amount of remuneration several times less, but to distribute at the current price?

1st question - don't know sorry - 2nd - the model is based in the then current value of the project based on industry norms - we cannot set a price for a future value of a token in any program. (Phil)

9 - Is it easy to create a new token under AERGO, like in Ethereum/EOS?

Yes, we provided token contracts like ERC20 and more. (Hunyoung Park)

10 - 1. Do you have more listing scheduled on international exchanges in near future, maybe you can provide more insights than an article? 2. People got 100% of drop on Korbit, that was intended? Was that bonus?

Hi Dima - we are very very careful not to release commercially sensitive information - as you know we try to be "well above the norm" when it comes to trust, transparency and openness - but also confidentiality - yes we have a solid plan to list on more exchanges soon! (Phil)

1. Expect some +ve surprises from Aergo every now and then (some planned - some not 😉 (Phil)

11 - How many tokens required to be a validator on AERGO DPOS?

Not yet defined (in detail) - release more info in January. (Phil)

12 - Phil, thank you for providing the article regarding planned token releases. If it sticks around this model, Aergo seems like a very solid investment. Hopefully, CMC gets updated relatively soon so that the lazy don’t need to do any math to see it is currently a great buy.

Thanks CJJ! (Phil)

13 - The surprise on early Rewardrop release on Korbit of 100% was awesome! Is there any slight chance of incentives for people holding till 28th-29th?

Only if these programs are already in place on the exchanges...sorry (Phil)

14 - Hi Phil, when will the Testnet be released?

Very soon, you can see it at most end of this year! (Hunyoung Park)

15 - Are you planning for global meetup/event, similar to Wanchain event in London? that will be great to build community and get their confidence in AERGO.

Yes - AWT - Aergo World Tour starts in South Korea and Europe in January - more soon!!! (Phil)

16 - I know there is still chance for failed KYC on AERGO RewarDrop, right? when it will be?

We have to move on from all KYC issues...sorry....we tried extra hard. (Phil)

17 - Is AERGO code has been audited by the third party?

Not yet, But there are some partner candidates who want to review. so not now, but maybe in Mainnet? (Hunyoung Park)

18 - Are BPs will be paid with AERGO tokens?

We have a very interesting and exciting model for BPS and cloud hosting providers - we are finalizing the details and will share the model in early 1Q2019. (Phil)

• Great, hope it will avoid BPs producing blocks at lost, like what is happening in EOS..

No we think our model is built to last and built to promote positive and long-standing relationships that add value to all involved. (Phil)

19 - My friend accidentally sent 473 AERGO to Aergo smart contract instead of sending to his other wallet. Can we get back those tokens of providing proper proof of transaction?

probably not - sorry. (Phil).
Sorry, ERC20 basic token contract can’t refund tokens in that kind of accident. (Hunyoung Park)

20 - If people break out the figures shown, this price is extremely low. Estimated market cap at the moment is around 7-10 million. Top 50-100 on CMC average a cap of 60 million, and most of those projects are useless with zero use and partners 👍👍

We don't pay too much attention to this believe it or not - more focused on 1. delivering the tech 2. signing up new early clients and 3. building out the ecosystem - everything will follow from these...so it is about execution...execution...execution from hereon. (Phil)

• I agree, Phil. I think most are still nervous about ICOs. If you guys stick to the roadmap, it’s clear that Aergo is focusing on the product. People are forgetting there have been projects out for 1-2 years with no main net, no partners, no use with $100 million+ caps. Aergo launched 4 days ago and the main net is 4-8 months out? Not terrible

Thanks - we agree 100%. (Phil)

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Hunyoung Park: In Aergoscan, you can see 20000 tps. It’s not exactly TPS, but peak TXs in a block, You can get a sense of the performance. we are still working on it!

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21 - Any news on Captain.Aergo?

WIP...we want to go quiet on this for a while and until we are ready to share some great news here! (Phil)

22 - Are Aergo tokens pre-mined? Does it involve transaction fees?

There is no mining. Pre-allocation of entire amounts. (Hunyoung Park).

23 - Can new Applicants be allowed to do their KYC in the second Rewardrop?

all new programs will be open to everybody and anyone - but they must read the rules and be eligible to participate. (Phil)

24 - Where do fees on AERGO go?

Reward of BPs basically, but we are planning the reward to voters also. (Hunyoung Park)

• This is good. Can anyone with Aergo tokens be a Voter?

Yes, We will start experiments on Testnet next year about DAO system for Fee protocol. (Hunyoung Park)

25 - When is RewarDrop 2?

We are calling our exchange listing programs ExchangeDrop (aka 2nd program) - we are working on two more for 1Q2019...more details then. (Phil)

26 - Will there be specific contests soon aside from trading competition?

Don't think so - sorry fellowsheep. (Phil)

27 - Hey, guys. It's almost 4 a.m. in Colombia, so I have to sleep. Later I'll catch up with this AMA, but I want to congratulate you for the efforts you've made from every field. This is a very special project and has a lot of potentials, thank you very much.

Sleep well...dream even better! (Phil)

28 - Hi Phil and Hunyoung, thank you for all you're doing for the community and the project. Merry Christmas to you! Have a great weekend!

Thanks Konstantin - it is because of people and members like you we love our AMAs and our communities - have a great one!

29 - Phil what will be the possible use cases immediately after Mainnet?

Many - we will try to summarize these when we "go live. (Phil)

30 - Any masternodes or staking? Sorry if asked before.

Yes, Not masternode concept here. Staking for voting is allowed. (Hunyoung Park)

31 - Hello, we are IDAX Exchange from Mongolia, who can discuss the cooperation with the list exchange with me?

pls write to us - we have many exchanges interested so want to give everyone a chance to talk with us [email protected]. (Phil)

32 - How long does it take to unstake AERGO tokens?

We are experimenting this, in Testnet, you can unstake in 3 days. (Hunyoung Park).

33 - @PhIl are existing BLOCKO project going to migrate on AERGO after Mainnet?

Yes the ones that decide to - Aergo is the future for all Blokco clients!!! many discussions underway. (Phil)

34 - Is there a minimum threshold number of AERGO to vote?

It will be determined by protocol and DAO. (Hunyoung Park)

35 - Any new partnerships you can let us in on? ;)

No but we are discussing a few very large transactions that need to be finalized and approved before we can talk at all about these 😊(Phil)

36 - Is CoinStack also DPOS?

Coinstack uses a kind of POA (we call it Leader-based POA). and Aergo will provide it for private circumstances. (Hunyoung Park)

37 - What's the size of the team now?? A lot of projects are cutting off developers and AERGO is hiring more??
Can the team manage a large team with the present market downtrend?

We are carefully watching our cash burn (this does not apply to developers!!!) - we are ready - well setup - well funded and well backed (that's all I can say for now...!). (Phil)

38 - Is AERGO code original from scratch?

Yep, we suffered from using existing open-source chain. so we built it from scratch. (Hunyoung Park)

39 - Why is Aergo Nonprofit? Sorry if this has been asked before.

in line with our open source model - open licensing - supporting developers across the world - pls read my medium article on Linux and Blockchain - may help you (or perhaps send you to sleep!!) (Phil)

40 - Are you open on being listed on lesser known exchanges?

Brand recognition is important but we have a well-balanced scorecard model for picking exchanges - so even newer/lesser known ones can have a chance to work with us (it is also an honor to be wanted!). (Phil)

41 - Hi, Phil! When will we, as project ambassadors, be able to actively start interacting with the team and solve task?

Hello Dobrode - I will pick this up personally in very early January - we got distracted with the exchange listing project as that turned out to be very very complex - but ultimately we delivered 100% of what we planned. (Phil)

42 - Do you plan to have more rounds of investing?

No we don't plan or need this. (Phil).

43 - @philzamani, a reminder pls, most of us came a week to the end of the Rewardrop in October and missed out on the ambassador position but we have been active and supported the community in our best ways Is there any way to be an AERGO ambassador OFFICIALLY?? Am getting jealous😢 I deserve to serve what I believe in(AERGO)

Yes - we will look into this again in early January - I want more quality ambassadors - not less! (Phil)

44 - I thought max supply was 1.5 billion coins and not 500million.

Wrong telegram channel Killovation - good luck 😊

45 - what is ExchangeDrop?

Its the allocation of Aergo Tokens to our partner exchanges to run competitions to promote good work and support of Aergo on their exchange - open to the existing community and anyone else for that matter! (Phil)

• I thought it would be better to reward holders, a strong part of the community, those people who are not going to get their tokens fast, so they can (obviously) sell them.

Difficult to comment here - all I can say the topic is complex - we are trying our best (but may get this wrong sometimes...):-😞(Phil)

46 - Will you be applying on crypto-to-crypto direct to wallet exchanges like Changelly / ShapeShift?

Not now, but we are open for any kind of good ideas. 🙂(Hunyoung Park).

47 - No project is perfect, there is certainly one or two hindrance or barriers the team or the project is facing! In term's of our favorite AERGO Project, what's the main hindrance and setback the team or project is having currently? A 'NO hindrance' answer is not really an answer cos NO project is perfect Ok sir if you will like to share with your community, what's the main hindrance on the Aergo project?

The truth is the overall sentiment with the markets being so low - this distracts people from looking at the positives that are out there - we hope the situation improves but we have a plan of execution that is not connected to market sentiment (or bitcoin/ether price etc...)

48 - What do you assess at this stage of the project as being the biggest issue enterprises have in adopting Aergo blockchain solution, and can this issue be resolved within the existing technical setup of Aergo/enterprise? Have a Merry Xmas and fantastic New Year!

Hi Serge - the only issue is they can't get their hands on the Mainnet yet (but even here we have some code in the hands of some friendly Korean clients)...come on Hun...code faster!!! (Phil)

49 - Is there support for Ethereum projects switching to AERGO easily?

Hun will provide a better answer - but eas of migrating to Aergo is one of the key things we want to offer. (Phil)
Good point, I’ll figure out what we can do for switching. (we are providing web3 interface similar SDKs) and we will release a guide for ‘Easy migration from Ethereum to Aergo’! (Hunyoung Park).

50 - How would you explain your key backers dumping their 10% on the so-called "unofficial" exchanges like Bilaxy? Tracked some of the early transactions and it looks like the moment the tokens were unlocked the majority of your key backers dumped their bags on the market.

Can't comment - investors/backers sometimes may have different needs and pressures at end of their financial/calendar years - that (may) have nothing to do with the projects involved! (Phil)

51 - Hi Phil... How Blocko and Aergo partnership exactly works?... Do u guys have to pay some money to Blocko in the form of Aergo tokens if any clients are coming to Aergo Platform??.. Could you please explain how exactly works

Hi Siddu25 - Blocko cover most of its own costs - Aergo supplements that with cash payments to Blocko for specific and well defined work packages...like "deliver Testnet by end of December 2018 to specxxxx", "deliver Mainnet by XXX with spec zzzz", do "X for Y"etc - all done at an arms length contractual level (so very formal and auditable arrangements).

52 - Good day, Phil! Few people said that they got bonuses, as you mentioned "surprise". My question is - Why did you decide to give bonuses to "flippers"? It is a very strange decision.

We cannot identify long-term holders from flippers - we could have locked all Rewardrop tokens for 1-2 years - but we deiced to trust our community (good actors and bad actors are all being monitored by CVAT - remember CVAT ). (Phil)

53 - @philzamani what do you think of Korea's cryptocurrency regulation at the moment, and how do you see it being in 12 months from now. Do you think the Korean government will be continuously supportive of Blocko and Aergo?

Yes and yes (things progressing fast...watch out for news in 2019). (Phil)

54 - I hope you will add "App ideas" group on Discord...

We will figure out how we can support this idea. (Hunyoung Park)

55 - When Binance is what we all wanna know?

Talk to them! (Phil)

56 - Will there be proposal voting on Mainnet?

Definitely, It’s the main idea for managing Mainnet. (Hunyoung Park)

• Who can make proposals anyway?

We are designing DAO system. you will know soon. (Hunyoung Park)

57 - Hi Phil.... do u guys have plans to offer Staking or any master/supernode concepts once it goes to Mainnet???

Staking yes - more in early 1Q2019 on our detailed model. (Phil)

58 - Please take into consideration that some people are ''working'' for Aergo behind the scenes in promoting the project to their network of blockchain investors and spend their efforts in this direction, rather than being active on telegram in endless price discussions! :)

Yes Serge and we are very very grateful for these efforts - please make direct contact with the team as we want to do more to help - support and reward people like you in the future!!! (Phil)

59 - Hi Phil, will 100% of the tokens be sent to the Rewardrop wallets on 28th or how will that entail?

Not yet finalized (we are still working on many things over the next week - skeleton team but working...) (Phil)

60 - Hi Phil... is there any plans to Establish offices in North America/Australia/India etc.. And also I see Some other Korean projects like ICON and Fantom are in good shape. Especially Fantom had Billon Dollar partnerships recently. How did you do differently to overcome this Competition?... Are any partnerships are in pipeline directly on Aergo Network(Not on Blocko)?

We don't compete with either of these projects - we compete with IBM, Amazon and now Google...we have many partnerships...we just don't shout about them (too early) ..we also have real production deployments with our partner Blocko...deployments anyone else?? (Phil)

We have specific target markets identified for 2019 - Korea - China-Southeast Asia - Europe (to begin with...) (Phil)

62 - Somebody sent a photo in the chat of boxes full of Aergo's merchandise. Is there any way to purchase it? With my Aergo token, of course :)

lets check - why buy? become an ambassador (know you already are 😊 ) (Phil)

63 - Is the token metric distribution subjected to "change" or it has been finalized????

Some of these things may change but we don't think hardly at all - its a complex thing - we spent a lot of time designing this before we felt comfortable releasing... (Phil)

64 - How can we be sure that you are real Phil, not his assistant for example?

Zoom call now? (Phil)

65 - Hey Phil, when Rewardrop tokens for those who didn't want to reg on Korbit?

See postings on this earlier for accurate details... (Phil)