Segment 2: Answer the closed questions from
Twitter (5questions)
Segment 3: Live Q&A session (5 questions)
Tag:For starting segment 1: To warm our asmosphere up, please briefly introduce about you, your team and BTC PROXY
BTC PROXY: My name is Donnie and I
am the founder of BTC Proxy and also the CTO of Kryptoin. . Our focus is the
intersection of Bitcoin and ETFs which are Exchange traded Products
Kryptoin
is in the regulated Asset Management space where our Directors have managed
over 70 Billion and managed the GLD which was the largest Gold ETF. We are also
currently engaged in the application for a US Bitcoin ETF.
There
are many similarities in Exchange Traded Funds and Stable Coin structures and
we have applied these fundamentals to BTC Proxy so that it can be qualified for
institutional usage
Tag: What are the competitive advantages of BTC PROXY
compared to other projects?
BTC PROXY: there
are a few unique features of BTC Proxy. BTC Proxy is an institutional grade
Bitcoin Bridge that is built on Polygon/Matic
Using our protocol will allow you to:
Mint a BTCpx with No Ethereum gas fees –
this is because our backbone is on Matic L2
BTC can be wrapped into ERC20 and MRC20
(Matic)
Insured Custody – the BTC that is
deposited goes straight to the custodian and is insured
$PRXY is the governance token and can be
used to Farm Bitcoin
Tag: Now please share with us some upcoming
events, as well as big partners BTC PROXY has been working with during
development period.
BTC PROXY: BTC Proxy was incubated by Alphabit Digital Currency Fund
We have direct investment by Matic
A195 Capital is our Liquidity Provider
We are part of the TDeFi accelerator
program
and we have investment by over 20
different funds altogether
To continue, we turn to Segment 2: Answer the
selected Twitter questions.
First
of all, I would like to say thanks to Tag’s members who have sent many
questions about BTC Proxy to us..
Tag: The first question’s from @ValerieElash4
Can you list killer features of BTC proxy that makes it
ahead of its competitors? What is the competitive advantage your platform has
that you feel most confident about?
BTC PROXY: BTC Proxy was built
for the Institutions
so it is the safest/cheapest protocol there is
for wrapping BTC to erc20 and mrc20
Gasless Minting – no metamask fees
required to mint BTCpx
PRXY Governance token can Farm Bitcoin Insured Custody for your Bitcoin Staking Marketplace for both ERC20 and MRC20
Tag: The second question’s from @SudilZacharias
I check your DEX and it says, Currently in Beta Testnet – Do
not send real Bitcoin. So I want to try out your beta testnet, where can I get
test tokens? Also do you have any bug bounty and reward programs for people who
are using your Testnet and report bugs to you?
BTC PROXY: Test tokens can be found
on the internet by searching ‘testnet bitcoin faucet’
you
will need a metamask wallet that is on the Goerli network
We
may have a bug bounty reward program but we have not yet established this
Tag: It’s from @Lidiamga
Bitcoin Proxy enables the BTC holders to participate in BTC /
Token trades and having a greater liquidity to ETH based applications,
specifically in which centralized exchanges and DApps can this technological
gap of BTC Proxy be used? Some examples?
BTC PROXY: For the general public we will be making
the BTCpx token available for minting and redemption on btcpx.io an it will be on Uniswap/Quickswap and some CEX
But
for the institutions we will be integrating the protocol on Fireblocks
infrastructure to trade with them.
Tag: Next question’s from @HongVit17808452
The $PRXY token has the same limited supply as Bitcoin at
21,000,000 and the Total $PRXY supply will be mined in 2 years. Why would you
choose the same supply as Bitcoin and prioritize speeding up the mining process
for 2 years over another longer period?
BTC PROXY: Because we are a Bitcoin Proxy and we
thought that it would make sense to have some of the same features of Bitcoin
such
at 21M total suppl
this
supply will be mined over 2 years and we believe this is long enough for us to
reach our goals and when the value of the token can support the full supply
Tag: The last question’s from @Alviraafrin39
The product is developed, one of the main challenges seems to
be adoption. What are some of the plans to stimulate adoption and build out the
ecosystem around # Lever network?
BTC PROXY: BTC Proxy belongs to TdeFi accelerator and within this ecosystem
this is a group of companies and projects
that are meant to speed up adoption
we already have agreements in place to
integrate with banks and other protocols
Tag: Thank
you for your detailed answer.
We
have just finished segment 2 of today’s AMA session
Now we turn to Segment 3: Live
Q&A session (5 questions)
At this segment, I will open the chat a few minutes to receive the questions.
Let pick your favorite ones when the chat’s closed
Tag: What are the ways that generates
income/revenue to maintain your project and what is its revenue model?also How
can it make benefit win-win to both invester and your project ?
BTC PROXY: The way that the protocol
generates income is from 0.1% to Mint and 0.3% to Redeem
these
are fees to use the protocol – these fees are then shared with the community
and offered to $PRXY governance token stakers
Tag: Smart contracts are prone to failure and
many projects fall victim to this, costing users money and the project
discrediting. How reliable and secure is your smart contract? Have you audit it
through any of the parties?
BTC PROXY: We have undergone penetration testing and security audit with Quillhash
Tag: What milestones have you reached so far? And what
is your future plan for BTC Proxy success?
BTC PROXY: I will just paste an image of our roadmap
we have
integrated with Hex Trust and ERC20/MRC20 and will soon integrate with Gemini
custody and BSC
Tag: Can you list 1-2 killer features of this
project that makes it ahead of its competitors? What is the competitive
advantage your project has that you feel most confident about?
BTC PROXY:
Here is the list of competitive advantages
our
main competitors are WBTC and renBTC
we
are L2 which makes us cheaper and we have insured custody and a user interface
that makes it more accessible
please visit our page at proxy.btcpx.io
to see the tokenomics of the sale
Tag: One of the direct investor in your project
is MATIC and BTCpx will operate as a Layer 2 protocol which will run on MATIC
network. I saw that MATIC and proxy has been working together since 2017 with
Kryptoin (the parent company of BTC Proxy). Was it because of this familiar
relationship that made you to launch your project on MATIC or are there any
technological advantages that you have identified on MATIC which will best suit
the scope of your project? Are you planning to expand your Bitcoin bridge
operation to other promising network like BSC, Polkadot, Solana and others?
BTC PROXY: We were working with the
founder of Matic in 2017 before he formed that company
we chose Matic at the time not because it
was popular as it is now but because it served the purpose of saving gas fees
and we are no able to offer gasless tx to
mint BTCpx due to Matic L2
Tag: Thank you to be here and share with us
such helpful information Mr. Donnie
Once
again, on behalf of TAG Ventures and the members, we would like to thank you
for being here today.
BTC PROXY: Thank you for giving us
the opportunity to share our project with your community. Please follow us on
our socials and if there’s any questions we are happy to answer them.
On the 27th of May, TAG community has a Telegram AMA with BTC PROXY.
At the AMA : Mr. Donnie, CEO of BTC PROXY, introduced and shared many interesting information about BTC PROXY.
And here are the key takeaways of the AMA:
Tag: The AMA would be happened as follows
Tag: For starting segment 1: To warm our asmosphere up, please briefly introduce about you, your team and BTC PROXY
BTC PROXY: My name is Donnie and I am the founder of BTC Proxy and also the CTO of Kryptoin. . Our focus is the intersection of Bitcoin and ETFs which are Exchange traded Products
Kryptoin is in the regulated Asset Management space where our Directors have managed over 70 Billion and managed the GLD which was the largest Gold ETF. We are also currently engaged in the application for a US Bitcoin ETF.
There are many similarities in Exchange Traded Funds and Stable Coin structures and we have applied these fundamentals to BTC Proxy so that it can be qualified for institutional usage
Tag: What are the competitive advantages of BTC PROXY compared to other projects?
BTC PROXY: there are a few unique features of BTC Proxy. BTC Proxy is an institutional grade Bitcoin Bridge that is built on Polygon/Matic
Using our protocol will allow you to:
Mint a BTCpx with No Ethereum gas fees – this is because our backbone is on Matic L2
BTC can be wrapped into ERC20 and MRC20 (Matic)
Insured Custody – the BTC that is deposited goes straight to the custodian and is insured
$PRXY is the governance token and can be used to Farm Bitcoin
Tag: Now please share with us some upcoming events, as well as big partners BTC PROXY has been working with during development period.
BTC PROXY: BTC Proxy was incubated by Alphabit Digital Currency Fund
We have direct investment by Matic
A195 Capital is our Liquidity Provider
We are part of the TDeFi accelerator program
and we have investment by over 20 different funds altogether
we just recently launched on @Launchpoolxyz
and 14M was staked in the project
To continue, we turn to Segment 2: Answer the selected Twitter questions.
First of all, I would like to say thanks to Tag’s members who have sent many questions about BTC Proxy to us..
Tag: The first question’s from @ValerieElash4
Can you list killer features of BTC proxy that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
BTC PROXY: BTC Proxy was built for the Institutions
so it is the safest/cheapest protocol there is
for wrapping BTC to erc20 and mrc20
Gasless Minting – no metamask fees required to mint BTCpx
PRXY Governance token can Farm Bitcoin
Insured Custody for your Bitcoin
Staking Marketplace for both ERC20 and MRC20
Tag: The second question’s from @SudilZacharias
I check your DEX and it says, Currently in Beta Testnet – Do not send real Bitcoin. So I want to try out your beta testnet, where can I get test tokens? Also do you have any bug bounty and reward programs for people who are using your Testnet and report bugs to you?
BTC PROXY: Test tokens can be found on the internet by searching ‘testnet bitcoin faucet’
you will need a metamask wallet that is on the Goerli network
We may have a bug bounty reward program but we have not yet established this
Tag: It’s from @Lidiamga
Bitcoin Proxy enables the BTC holders to participate in BTC / Token trades and having a greater liquidity to ETH based applications, specifically in which centralized exchanges and DApps can this technological gap of BTC Proxy be used? Some examples?
BTC PROXY: For the general public we will be making the BTCpx token available for minting and redemption on btcpx.io an it will be on Uniswap/Quickswap and some CEX
But for the institutions we will be integrating the protocol on Fireblocks infrastructure to trade with them.
Tag: Next question’s from @HongVit17808452
The $PRXY token has the same limited supply as Bitcoin at 21,000,000 and the Total $PRXY supply will be mined in 2 years. Why would you choose the same supply as Bitcoin and prioritize speeding up the mining process for 2 years over another longer period?
BTC PROXY: Because we are a Bitcoin Proxy and we thought that it would make sense to have some of the same features of Bitcoin
such at 21M total suppl
this supply will be mined over 2 years and we believe this is long enough for us to reach our goals and when the value of the token can support the full supply
Tag: The last question’s from @Alviraafrin39
The product is developed, one of the main challenges seems to be adoption. What are some of the plans to stimulate adoption and build out the ecosystem around # Lever network?
BTC PROXY: BTC Proxy belongs to TdeFi accelerator and within this ecosystem
this is a group of companies and projects that are meant to speed up adoption
we already have agreements in place to integrate with banks and other protocols
Tag: Thank you for your detailed answer.
We have just finished segment 2 of today’s AMA session
Now we turn to Segment 3: Live Q&A session (5 questions)
At this segment, I will open the chat a few minutes to receive the questions. Let pick your favorite ones when the chat’s closed
Tag: What are the ways that generates income/revenue to maintain your project and what is its revenue model?also How can it make benefit win-win to both invester and your project ?
BTC PROXY: The way that the protocol generates income is from 0.1% to Mint and 0.3% to Redeem
these are fees to use the protocol – these fees are then shared with the community and offered to $PRXY governance token stakers
Tag: Smart contracts are prone to failure and many projects fall victim to this, costing users money and the project discrediting. How reliable and secure is your smart contract? Have you audit it through any of the parties?
BTC PROXY: We have undergone penetration testing and security audit with Quillhash
Tag: What milestones have you reached so far? And what is your future plan for BTC Proxy success?
BTC PROXY: I will just paste an image of our roadmap
we have integrated with Hex Trust and ERC20/MRC20 and will soon integrate with Gemini custody and BSC
Tag: Can you list 1-2 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
BTC PROXY:
Here is the list of competitive advantages
our main competitors are WBTC and renBTC
we are L2 which makes us cheaper and we have insured custody and a user interface that makes it more accessible
please visit our page at proxy.btcpx.io to see the tokenomics of the sale
plse join our group https://t.me/BTC_Proxy
Tag: One of the direct investor in your project is MATIC and BTCpx will operate as a Layer 2 protocol which will run on MATIC network. I saw that MATIC and proxy has been working together since 2017 with Kryptoin (the parent company of BTC Proxy). Was it because of this familiar relationship that made you to launch your project on MATIC or are there any technological advantages that you have identified on MATIC which will best suit the scope of your project? Are you planning to expand your Bitcoin bridge operation to other promising network like BSC, Polkadot, Solana and others?
BTC PROXY: We were working with the founder of Matic in 2017 before he formed that company
we chose Matic at the time not because it was popular as it is now but because it served the purpose of saving gas fees
and we are no able to offer gasless tx to mint BTCpx due to Matic L2
Tag: Thank you to be here and share with us such helpful information Mr. Donnie
Once again, on behalf of TAG Ventures and the members, we would like to thank you for being here today.
BTC PROXY: Thank you for giving us the opportunity to share our project with your community. Please follow us on our socials and if there’s any questions we are happy to answer them.