Venue: Youtube Community Catchup January 2022
Date: 21st January 2022
Time: 4pm UTC
INTRODUCTION
Hey guys. Welcome. Welcome to the second version of our community AMA. This has been such a long time coming. I think our last AMA was in December, so we are super excited to have you guys here. Before we get started, can you guys in the chat just say hi, if you guys can hear my voice.
Okay. Fantastic. Great. So wonderful to have you guys today, oh, wow. Look at all those people. Guys, it’s great to see you. Great to see you all. We hope to continue with different sort of updates that we can share with you. I’m excited to show you guys some of the work the team has been working on, show you stuff that is live, give you an idea of what’s going to happen in the following weeks.
As you can see, this is our second AMA, we have a much more professional setup, comments, and questions that you guys ask will be shown in the stream and I will be answering them for you. So, it is great to see all of you. Let’s started, I’m going to share my screen and we take things one step at a time. Yeah.
So, before we begin, I think it is interesting to get a quick progress update as to where we are. Of course, today we are waking up in a market that is brutal as hell. But I think one thing for sure is that it is not decreasing is our community and the growth that we are seeing so far. On our Twitter page now we are up to 44,900 followers. That is amazing. I think the number of people that are following us on Twitter, Telegram and discord is fantastic. It’s amazing to see all the different sort of people that are here, that have been with us and are joining us in this journey.
Join the MahaDAO patrons
So, as we begin, we would like to first talk a bit about the community, the people, and without the people, you know, MahaDAO is nothing right. I think the best way for the people to get involved with MahaDAO is to become a DAO patron. In MahaDAO, we have what is called the DAO Patrons , which is essentially a way for people like yourself to earn rewards and incentives for doing something or anything really that helps the MahaDAO community to grow. What we have here is the application form for people to become a part of the MahaDAO. As you can see, you start with talking a bit about yourself and there are many people that have been with us in this journey who have talked about their amazing stories, who have contributed in different ways to the MahaDAO. Essentially, it’s a way for people like yourself to not only contribute from the MahaDAO, but to also be a part of the MahaDAO governance. So please do visit the DAO patrons. The link is right here on the screen.
BSC Update: Major launch partners in Pipeline
With that being said, let’s jump on to some of the major updates that we must share with you during this AMA. What better way to start off than to talk about the BSC chain launch? Let me just open what we have here in the coming weeks. Maha is officially going to launch on the BSC network and BSC is one of the biggest layers 2, or I would say layer 1 blockchain out there with a community and ecosystem that is far bigger than any of the other chains MahaDAO has been on. This is a very exciting sort of update for us because it means that Maha will start stepping into your Pancake Swaps, your Shiba Inu and other BSC community ecosystem coins.
So, one of our major update is we are going to go live on the BSC, the team is focusing on deploying the BSC chain live. In the coming week on Monday or Tuesday, we are going to announce that it is officially live, and you will be able to interact with MahaDAO on the BSC chain. All the features that you know and love sort of come into at the BSC chain with some special features, and additions which I am going to share with you as the next update.
ARTH Loans to debut on Binance Smart Chain
As you can see, people can open loans, participate in stability pools, redeem their ARTH and Maha for any of the underlying collaterals, farm trade and so on and so forth. All the things that we have currently live on the Polygon chain will be made available on the, the BSC chain. We have a team of business development executives that are going left, right and center to partner with different DApps, different projects, different communities to integrate ARTH with their products. Next week, we are going to see a lot of integrations, a lot of work, a lot of partnerships with people, projects, communities from the BSC chain. So, this is the first major update that I would like to share with you guys.
MAHA to be used as collateral for ARTH
The second major update is the fact that Maha is going to be used as collateral for ARTH. This is huge guys, let’s take a moment to understand what the implication of this means today. There are stable coins that have done well, where their model is to use their governance token as collateral for the stable coin. Just to give you a few examples, Terra uses Luna as collateral for their stable coin terra USD, FRAX uses FRAX shares which is their governance token as collateral for their stable coin. A lot of these stable coins that are very successful, that have grown to massive level have used their underlying governance token as collateral for their stable coin. Today we are excited to share with you guys that Maha also will be used as collateral for ARTH. So, if you look at the stability pool section, you can see the different collaterals that the system supports.
Obviously, we are starting off with BNB, BUSD of course for the whales that like to farm ARTH without much risk, and Maha as well for collateral for ARTH. This is a major step in terms of liquidity, in terms of use case for Maha as more Maha gets locked for minting ARTH, that creates scarcity as well. I think it is fantastic to see more scarcity for Maha, more liquidity for ARTH, more integrations, more chains coming in for both ARTH and Maha. This is something that we are very excited to share with you guys.
It is great to see all the questions from the community. I think it’s fantastic to see all the people that are with us right now. But guys, we are just halfway through with the updates you know, and I’m just going to take a moment to go to the next one that we have so far.
Strategic Partnership: MahaDAO X AnySwap
The next one is very interesting. It is something that we have been waiting for a long time and some of the community members have been asking us for a while. When can we see Maha on Anyswap? I am excited to share with you guys that Maha is finally on Anyswap. Anyswap is a router protocol that lets you switch assets between different chains. And so essentially if you go to any swap right now you can see that Maha is now officially on the chain and that means that you can sort of switch easily, transfer your Maha from ETH chain to BSC using Anyswap, but not only can you do ETH to BSC in one transaction, you can also do Polygon to BSC chain through one transaction, which means people who are already on polygon, don’t have to worry about going to Ethereum paying the massive gas fees from their pockets to pay. They can just go directly from polygon to BSC and back and forth. Anyswap team has been very amazing in giving us support, the love, and the integration for making this to happen.
Let me show you guys what we have here if you look at the Maha pool over here the team has already added liquidity for ETH and BSC and there is already liquidity for Polygon. So, you guys can go and straight away swap between chains. The transaction fee is 0.1%.
ARTH wallet Beta to launch soon
We are super excited to share with you guys that the wallet that we have been working on will allow people to transfer ARTH and Maha on the MahaChain, across many different assets and allow for ARTH to be used as CDBC is soon to go live next week. Which means that we are going to be conducting the official Beta launch of the ARTH wallet sometime in the coming weeks. Mid next week, we are going to give you guys, the people access to the wallet, where you can send, swap receive and even do private transactions with ARTH, Maha and other assets that the ARTH wallet would support. We are going to have our open beta to test it, break it, find bugs, and let us know what is wrong with the wallet. By the way, the wallet will host the Petro cryptocurrency, which is the official cryptocurrency of Venezuela.
We are very excited to have you guys test it. You can report some bugs as well. There’s a lot of stuff that’s happening in this screen. If you guys can notice, there is even a referral system that will be made live shortly, where if you refer a friend, you earns rewards as well as your friends. So, there is a built-in referral system inside of the wallet to grow Maha, to grow the ARTH ecosystem into something big.
Groundbreaking developments on the MahaChain front
The next update that we have is the one and only MahaChain. What you’re seeing right now is an actual live implementation of MahaChain, the first blockchain with built in incentives for any of anybody that is building on it, which means if you are a person that is building that is building DApps like Compound or Aave. If you’re deploying, let’s say an ERC token on the MahaChain, then you will be earning a small percentage of rewards in Maha for simply building on the MahaChain. What you see here is an actual live blockchain created by the MahaDAO team (This is the Explorer where you can explore all the different transactions and see the different people that are using this blockchain). It is currently compatible with Metamask, which means that you can send transactions, interact with smart contracts, and maintain assets just like how you would interact with other assets in just one place.
As you guys can see here, I’m just connecting my meta mask and I’m choosing the MahaChain over here and I can see my wallet interacting, send, receive, maintain assets and all the transaction fees will be in ARTH, which is another cool thing because all the transaction fees will be stable. There’s a question in the chat, what is the currency that will be used for gas on the MahaChain? That is the ARTH. We will be using ARTH as the currency to send and receive transactions on the Maha chain. Now, this makes it really cool guys because you know, the transaction fee is going to be predictable. ARTH is stable, there is not going to be that much price fluctuation in the gas fees.
An amazing thing to note is that the first use case of the ARTH wallet and the MahaChain will be in Venezuela for the Petro cryptocurrency. This is the live progress as you can see blocks are being minted in every 6 seconds. These are the different wallets using Substrate and Pollkadot, which makes it very efficient and easy to use and easy to maintain for the team. We are working towards closing the Testnet and documentation over the next few weeks. The goal is to make this live sometime around February, that’s our target for the mainnet launch.
MAHA locking/ Staking – Have you locked your $MAHA yet here?
Lastly, we want to talk about the Maha and the locking/staking of Maha. So essentially if you go to here you can start to lock your Maha and be a part of the Maha governance essentially being a part of governance, lets you earn rewards, earn incentives, earn APRs for simply locking your Maha.
This sorts of create scarcity, in conjunction with a lot of positive activity for those who stake their Maha. Remember if you stake your Maha only then will you be eligible for rewards, participate in voting and governance and all the benefits that the governance has to offer. For example, you can earn a 96% APR for taking your Maha for 4 years. When you stake your Maha, you will get rewards in Maha, ARTH, SCALLOP, USDC, Forward and all the different coins that are part of the governance. By just holding and locking your Maha, you own many benefits that you will receive besides Maha price appreciation itself.
MAHA stacking portal for multiple chains
Our focus in the next few weeks is to make sure that we also get a lot of people to stake and lock their Maha simply because locking/staking Maha removes it from circulation. It means that if there’s more Maha that is locked/kept aside, then the scarcity for Maha increases. This is our staking portal. this is currently work in progress. It is a beautiful looking portal that lets people no matter which chain they are to sort of integrate with and stake into the Maha protocol, with as little gas fees as possible.
You can see is that you can lock Maha and earn 95% for locking your Maha in governance and helping secure the protocol. It’s in four different steps.
Step 1 is you withdraw your Maha from Kucoin. If you have Maha in your wallet, that is also fine.
Step 2 is to transfer the Maha to a staking contract. You choose how much Maha, you want to transfer. You enter the amount and then you proceed, right.
Step 3 is you choose how long you want to stake. If you stake for four years, you get the maximum benefits out of the staking protocol. We encourage people to stake for four years, but if you don’t want to stake for four years, can stake lower and earn lower API accordingly.
Step 4 is to earn bonus. You will earn rewards, lottery tickets, giveaways that we continuously keep on having every month. For example, once this page goes live, the first giveaway is a brand-new Tesla that we are going to give away to our community. So, stake your Maha and win a Tesla. How awesome is that?
Those are the updates guy, there is a lot stuff that we have been working on and we are going to continue to deliver more updates and share with you the progress. I’m going to take some questions now from the community.
Question 1 - When scallop polygon on BSC bridge? by JFer.
Steven - One of the cool things that we have done when we integrated Maha into Anyswap is that we also integrated scallop into Anyswap as well. If you check for Scallop, you will see that there is already the scallop token on Anyswap live.
So, you can swap your Scallop tokens from polygon to BSC chain and back and forth. Scallop is a fantastic project. They have their token unlocks coming about, but the fundamental of scallop is strong. And I think one of the goals for the Maha team is to be make sure that the scallop is a home run, right? So, in the month of May is when a lot of hype, a lot of attention is going to come back to scallop because that is when not only do all the vesting get over, but the main product launches. Just like how Maha had like a 12-month period where we had these investors that were there for Maha, scallop is going through the same thing. But in the case of scallop, the period is much shorter than Maha. In Maha it was 12 months of vesting for privacy investors. Whereas with scallop is barely just three months. We are very excited for scallop because scallop is also getting ARTH credit cards, which means you can use your credit card to spend your ARTH and Maha. I think that’s awesome. Kudos to the scallop team for getting all these licenses and things in place.
Question 2 - I have locked my Maha on Polygon. Is there any drawback when Maha launches on BSC chain ? by Timo Von Grunewaldt
Steven - The beautiful thing guys is that locking your Maha means that you’re going to get staking rewards and you’re going to get all these benefits that we will continuously push to the MahaX holders. When Maha launches on BSC, I believe that the scarcity of Maha will start to increase even more because we are also making the Maha token used as collateral for ARTH. That is going to be a very interesting thing moving forward. We are going to see more scarcity for Maha, a better price, and more introduction of Maha to more people to farm Maha. So, I don’t think there is going to be a drawback as such. I think it is a good thing that Maha is launching an BSC.
Question 3 - When is the estimated deadline? by Favour
Steven – I will give you guys estimated deadlines but please know that these are obviously estimates and we have a tendency to kind of miss these deadlines, but we do try our best to not to be within two weeks or a week beyond these deadlines. For the ARTH loans launch on BSC chain we are expecting on Monday. For the wallet beta to go live is middle of next week either Wednesday or Thursday. We are expecting MahaChain main net to go live in February as well as the ARTH wallet. So, these are some of the tentative deadlines that we are looking at .
Question 4 - What makes MahaChain different from the rest? by Imparable review
Steven - Essentially Maha chain is the first blockchain with built-in economic incentives. So, if you look at a recent coin Telegraph article that talks about MahaChain. How it is the world first DAO Powered blockchain with built in economic policies. The white paper for MahaChain is to not yet released. We are working on it and expect to release the white paper with details of these built-in economic policies by end of January into February. MahaChain is very new, it’s a very economically incentivized blockchain. As Maha price continues to grow, people continue to build Dapps and projects on the MahaChain, they will get Maha rewards based on how much volume they’re able to drive. If you think about it today, if you are building on Ethereum, you don’t get any you get any sort of incentive for mining or building and promoting the Ethereum blockchain. Whereas if you build on MahaChain, you will get incentives and buybacks that you can do or other activities to push your price up. Those are the benefit of using Maha chain.
Question 5 - Does Anyswap support ARTH? by Grzesiek Sikora
Steven – At the moment, not yet. But we will work with any swap team to support cross chain, swapping of ARTH across all the different chains, and one day even MahaChain as well.
Question 6 - Is there any DApp on the MahaChain testnet? by Stefan Tanned
Steven - So the answer to your question is yes, but these are DApps built by our in-house team. The details for the Testnet have not yet been made publicly. So, the moment we release the Testnet details publicly, then anyone can build any DApp onto the Testnet.
Question 7 - Hi, Steven. I have a question about Staking reward. Can you explain to us how they are calculated and when we should expect for the debtpool to start paying off? by Ladislav Sopaik
Steven - All right. Fantastic question. With respect to staking rewards currently we have a sheet.
This is the calculation for what we have done with respect to Maha staking, as you can see here, these are the token rewards that have been allocated to us over the next year (Column C), like the 60,000 Maha, the 1,000,000 Scallop token and over 5 million Forward tokens, The Forward is not yet live. So, we don’t know exactly what kind of APR we will see with forward, but these are the rough APRs that we should be seeing. And if you look at the amount of Maha X, right, just add that number here (Colum K), you should get the actual total APR over here. Now, there is an issue with the current staking portal. If you look at what we have here, there is an issue where people are receiving rewards, but they’re not exactly as accurate as what the APIs are shown over here. So, this is an issue simply because we are building the staking protocol. We are doing something very complex. Like we are taking the best of what is alpha finance and the best of co-finance and bringing them together. However certain issues did arise where some of the rewards were a little less than what they were projected on the screen. So, to address this, the team is working over the weekend on new staking contracts, which would get deployed next week, and any staking rewards discrepancy will be calculated, and air drop back to the holders. So, you don’t have to do anything we are already on our toes to get this fixed. You should be getting the right APRs starting next week onwards.
The second question is when do you expect debt pool to start paying off? We have built some smart contracts to automate the payoff of the debtpool. We built these contracts days ago, but these contracts are currently under audit. Once they finish audits, then we will have them deployed. The moment we have them deployed, that’s when the debt pool payouts go through the debt pool, we have about 20,000 Maha that needs to get deposited. So when the audit report comes and we are able to push things live, we will have the 20,000 Maha deposited. And the APRs for debtpools will start right from there.
Question 8 - Who are your launch partners for the BSC chain launch? by Arnold Peters
Steven - This is an internal pipeline. The team is currently focusing on and as you can see, we have close to 41 different projects that we are working with, these ranges from dexs to lending protocols, to exchanges, to farming protocols, farming, aggregators, and other kinds of protocols. So, we have this list, this excel sheet of different projects that we are working with and they will be in focus next week once we launch on the BSC chain.
Question 9 - Does the team have funds to sustain 2 to 3 years without selling coins in 2022? by Stefan Tanned
Steven - Absolutely. We have a trading desk which is earning revenue from doing things like arbitrage. So, we are also earning revenue and have an investment arm where we do investments into different projects. Pretty soon the investment arm will focus on investing only on projects that are grown in the MahaChain. Pretty soon MahaChain projects will get investments from MahaDAO. So there is enough funds in place to continue to grow as MahaDAO.
Question 10 - Will Maha be used as collateral on Polygon chain too? Or only BSC? by Arnold Peters
Steven - That’s the cool thing, Arnold is that Maha is going to be used also as collateral for the Polygon Chain as well. The team right now is working on that.
Question 11 - Will the Maha chain be a fork of anything, and what would be the reward structure for node validators and how would the economic incentives work? by Javaughn Semour
Steven - Wow, that’s a big question. a lot of stuff in just one sentence. So, the MahaChain is currently a fork of substrate. We are exploring 2 chains: substrate and cosmos. Now, we are leaning more towards substrate, and we are working to implement proof of stake on the substrate chain. So , essentially, we are working on that. The reward structure is going to be all the ARTH transaction fees that are paid out, go to the nodes as transaction fees and economic incentives, is a budget of Maha tokens.
This is a budget of Maha that we are looking at every month. So, as you can see here every month, there’s 55,000 Maha tokens that come out of the ecosystem fund to be used for various incentives that Maha needs to grow. I earlier mentioned about MahaDAO patrons. There is roughly 5,000 Maha per month. We have 5,000 Maha for community incentives like T-shirts, giveaways, other growth-related activities. For MahaChain there is about 20,000 Maha that is allocated for all the different projects and Dapps which will be split in different ways as economic incentives. As Maha price continues to grow, the incentive value in dollar terms continues to grow. We will be releasing a white paper to explain in detail more about this.
Question 12 - When Tesla When is Scallop bridge? – by JFer
Steven - Tesla is in a month, once we get the staking portal live, in collaboration with fire blocks, the Tesla campaign will restart, and it’ll run for one month and scallop is already live.
Question 13 – Is the staking only going live with BSC launch? – by Lucius Servilius
Steven – The BSC launch we are also going to have some farming pools. Specifically, we are going to have ARTH-Maha, ARTH-USDC and ARTH-BUSD farming pools. We are also going to launch polygon farms next week. So next week we are not only seeing BSC chain launch, but we’re also going to see farming pools also launch next week. Besides that, the staking reward for Maha currently is only on the polygon chain, but once we launch MahaChain, then everything will get migrated to Mahachain.
Question 14 - Is the $5,000 reward for new stakers only? by Alec Graziano
Steven - No, it is for all the stakers. The 5,000 Maha per month is for all the stakers. If you stake today, then you are eligible for it.
Question 15 - If Maha is backed by USD and gold, where do you store these currencies and assets? by Skandar
Steven – It is ARTH which is our stable coin that is backed by these assets. But the thing is that it is, pegged to these assets. It is backed by cryptocurrency. It is pegged to 80% fiat, 15% gold and 5% Bitcoin. So, ARTH is a currency, not Maha that is pegged. ARTH is pegged to this basket, but it is backed by cryptocurrency collateral, like BUSD, Maha, BNB and so on. So yeah, that’s how it works. As long as we maintain enough collateral to support our peg, uh, we will always stay true to the peg .
Question 16 - How long will forward rewards be for Stakers? 4 years? by DpS
Steven - So currently the forward reward is for one year. The APR we calculate is for one year. The forward allocation has been given to us for one year. We will see more projects coming in and they will be added. At the moment we have only two projects Scallop and Forward.
Question 17 - What proof of methods are we using for MahaChain? by Umuchukwu
Steven - Proof of stake
Question 18 - When is it launching on BSC chain? by Signor Maiale
Steven - We are launching it today Friday, but on Monday we are going to have the official announcement put out.
Question 19 - Will this staking pool close in a certain time or when it reaches a certain threshold (So the APR will not decrease further)? by Djeffrey Cats
Steven - There is no closure for staking pool which is open 24/7. As more people stake their tokens, the scarcity increases and there is not more than 50,000 Maha token that is unlocked every month. That is a very small number mild tokens if you think about it. Which means if staking APR decreases, it is still fine because the price will increase. So, the side effect of staking is that you create scarcity, and you choke the supply, while price increases. It is a win-lose sort of thing where you lose in APR, but you gain a better price.
Question 20 - When will more IBO tokens be added as rewards for MahaX staking? by Arnold Peters
Steven - The answer is yes. Currently we have two tokens Scallop and Forward. There is going to be more tokens that get added. As you know, we will do more IBOs in the future.
Question 21- Can I join as a MahaDAO patron? by Imparable Review
Steven - Absolutely. We have with us, Michael, who is dedicated to getting all the different applicants or different people joining us as patrons Infact, we just had a very fun call with the MahaDAO patrons, where we showcased a lot of different things that have been worked on. To get in, all you need to do is create an account and apply on this forum and then Michael will then just take it there from you.
Question 22 - What about liquidity for ARTH? I tried to buy ARTH but there was no way to do it. by Grzesiek Sikora
Steven - Farming pools are going to start next week for ARTH, and that’s the most exciting thing because we are going to start allowing farms for people to mine ARTH to add liquidity. We are also enabling Maha to be added as collateral for ARTH. Now, this is a very big thing because there is a lot of Maha out there floating around unused, that can be used as collateral for ARTH. By allowing Maha to be used as collateral for ARTH, we enable liquidity for ARTH and at the same time scarcity for Maha.
Question 23 - How come the APR for 1 month staked is lower than 3 months ? by Djeffrey Cats
Steven - This is because the staking APR is determined by how long you stake. If you are a person that takes for 4 years your 100 Maha tokens, you will get the power of a full 100 Maha tokens. Whereas if someone else stakes 400 Maha for one year. Then his Maha power is 1/4 of the total Maha staked. That’s the reason why the preference is given to you to stake longer. People who stake for 4 years get maximum benefit. Then the people who stake for 1 year get 1/4 of the benefit. People who stick for 6 months get like 1/8 of the benefit and so on, so forth.
Question 24 - Will all the contracts be audited? Will Maha plan to get a Para chain slot or apply for substrate grant? or join a Para chain in KSM or DOT (for example Moonbeam or Mooriver)? by Stefan Tanned
Steven - Absolutely. the contracts will be audited. For the Para chains slot, I don’t think so. Simply because the Para chains are too competitive right now, but as it is, we would have a ton of bridges and compatibility. Maybe, you know, when MahaDAO become that big we will get a Para chain slot. But we are applying for Substrate grants, and we’ll be joining moon beam. I think we are already in touch with the moon beam team in that regard,
Question 25 - When will we see the official announcements for Venezuela and MahaDAO partnership? by Chris
Steven - This is currently work in progress. The first step for us is to get the ARTH wallet live and active. I am traveling to Venezuela to meet some of the officials to get this initiated. Irrespective MahaDAO is launching on Venezuela no matter who comes in. Right. I think February is going to be an exciting month for us in terms of this Venezuela initiative.
Question 26 - Do we know a minimum amount of Maha for running a node on MahaChain? by Lucius Servilius
Steven - Yes. Currently it is set at 2,500 MahaX for running a node, but you also need to be voted into by the community as well.
Question 27 – It is great that you are adding Maha has collateral, but won’t it increase the volatility of Maha? by Farhad Dawood
Steven - Yes. In the case where Maha price decreases and we see some liquidations happen, but a lot of the successful stable projects, for example, Terra Luna and FRAX have used their governance tokens, as collateral and have done tremendously well. The upside is far bigger than the downside. There is the downside in that using Maha as collateral increases volatility, but the upside is that there is more Maha that gets locked, there is more Maha that gets used, there is more liquidity for ARTH. So, what this creates is a lot of positive upwards momentum for Maha price. We can also build safety measures in the future to protect us from any potential downside. With good safety measures, enough liquidity, we should be able to make sure that the system is secure as well.
Question 28 – With the new staking site, will it be possible to stake for 1 month if I already staked for 4 years? by Philip Kirchner
Steven - No. You can only use one address to stake at a time. If you have already staked with an address, our recommendation is for you to stake with a different address, because if you were to do multiple staking amounts in one wallet, it becomes very, very complicated and complication is something beyond the scope of the smart contract we have today.
Question 29 - What will be the TPS of Maha? by Djeffrey Cats
Steven - Well, currently it is using substrate. We are not aware of the TPS details, but once we do a stress testing, we would be able to get those details shared to you.
Question 30 - When will the smart contracts be online? by Stefan Tanned
Steven - Well, we are expecting, early February for the Testnet to go live. And then that would allow for margin smart contracts to go.
Question 31 - What will be the process if you MahaX falls below 2,500 MahaX or your locked period expires? By Ivan Ivanov
Steven - So I believe Ivan, you are asking me with regards to running a node. Essentially there will be a dynamic voting process where automatically if your balance falls below 2,500 MahaX, you will be replaced by the next eligible candidate that has enough voting power and community backing to meet the requirements.
Question 32 - When will the Maha contraction rewards be air dropped from old farming pools? by Etlam94
Steven - Okay. Thank you for bringing that up. I think, all of post is taking us over. We will be airdropping those maha contraction rewards around early Feb.
Question 33 - Can you talk about buying off tokens from VCs and making MahaDAO more decentralized? by Kapil Kataria
Steven - Absolutely. We bought back 100,000 Maha from various VCs. To make sure that they did not have enough Maha required to sort of screw the governance, right. By doing this, we effectively removed the biggest whales of Maha, essentially. We are talking about whales that could literally cause harm in the governance. So, we put our own money to buyback a lot of these tokens. And it is money that we have worked quite hard. For example, I worked quite hard for a while to accumulate the funds to perform this buyback. This makes it more decentralized because the people holding it now are the team and the team have the best interest of the community.
Question 34 - When will there be another IDO? when will be forward TGE be? by Sgt. Elias
Steven - So the next IDO will be after the forward TGE happens. The forward TGE is currently dependent on the forward team. Their opinion has been to launch it during a bull market. And I believe that is a very valid assessment or plan for them to launch it in a bull market. I think we should see a bull market in the month of February or March. Its all dependent on BTC and I do think BTC will take off in the month of February and March.
Questions 35 - what about ARTHX and debt pool, when will you start paying fees? by Jacek Kaczmarek
Steven - As mentioned, we have these governance contracts that are under audits. Once the governance contracts come out of audits, then we are going to have them deployed. Then the first deposit we will be making is 20,000 Maha, which at today’s price is roughly $80,000. If Maha continues to appreciate in price, that’s great for you guys. We are going to continue marking off the amount of Maha we are paying off every month until it is fully done.
That’s it guys, thank you so much for your time. I want to use this opportunity to thank you so much for joining with us in this journey. It’s been a real pleasure.
Thank you so much.