BSCDaily.com hosts AMA with MetaReserve. #MetaReserve #BSCDaily #BSC
Q1: Tell me more about yourself and your role in MetaReserve?
Mr.Oliver: Hi Yes I can do that, I’m the CSO of MetaReserve, My job is of course strategy but that’s more of an all-encompassing role as I have to look at every part of the business every function, every system and implement strategies or ideas or methods of making things more efficient or more beneficial or streamlined with the overall objective of meeting our targets and goals. A big part of that is outreach, so strategies that will help grow our community, our business and in turn our treasury, I focus on Partnerships, on signing strategic partners and ambassadors and anything that helps create interest and attention and excitement. Collaborations that will benefit our business and that can be mutually beneficial for our partners too. We have a lot of tools that can help other businesses launch and grow or expand into the crypto, defi, token space so we can save other businesses and partners and brands, institutions and such massive time and money as we already have in place the technology that will allow them to accomplish their blockchain related objectives faster without the need to start from scratch, we can do everything for them from start to finish. I’m also here to act as a bridge between traditional financial systems and the crypto world. About me personally, I’ve had a long and varied business history, I started in business very young I was just a kid, in digital media I became the largest distributor of digital media in the UK while I was still a teenager, i’ve been in many sectors, property, transport, blockchain, sports, I’ve always worked for myself, I’ve never been a suit or a corporate guy, but I understand the corporate world, I’ve been in trading forex markets and crypto, I’ve done a lot of charity fundraising, I have 2 degrees 1 in business management 1 in sport science, and I’ve a big network of high level connections. On a personal note as this seems to be an issue for many people at the moment, I have never had social media, so no fb no twitter no ig no tik tok, and that’s just because I prefer my privacy, I do see the benefit of social media for business so I do have business pages I do a lot of FB Marketing and IG marketing, but for personal or social use im very old school, and I think more and more I’m proving that I made the right decision, data is the new oil, and we have given big tech all our data, our phones know more about us than we do, they’re now developing predictive technology so they will know what you are going to do before you know, in every aspect of your life and that’s just not for me I saw this coming a mile away and I never felt the need to broadcast my life on social media and post pictures of my breakfast or paint a Rosey false picture of my life, I just have never needed or wanted that kind of external validation. So I’m not an influencer and if you don’t find me on FB now you know why, I don’t want it and I don’t need it and I’m not giving my sovereignty to social media. I am a decentralized guy, in every aspect of the world, financially, politically, socially, culturally, and that’s why I love blockchain and defi and Metreserve we are truly truly decentralized.
Q2: Could you introduce to the listeners what MetaReserve is?
Mr.Oliver: We are a decentralized autonomous organization, we are a reserve currency protocol, we are an olympus fork, so that means we use the Olympus codes as our basic platform, but we have enhanced and strengthened the codes for more security and advanced features like smart contracts for governance.
We are the first Defi project that has the support of a publicly listed company, lion group holdings and our relationship with them is as an advisory role so they have vast experience in the money market and we feel they are ideal to play an advisory role as we are dealing in finance as well and trying to bridge the 2 worlds of traditional finance and crypto. To work on building this foundation further we will be bringing on other financial institutions as strategic partners or to play an advisory role.
Our token is the $POWER token. We are now on coingeko and coin market cap. Users can exchange POWER for HONOUR token when staking or bonding. We try to keep our APY around 200,000% which is less than some but it’s sustainable. We monitor all the economics and the algorithms adjust accordingly, if there is more people staking the APY goes down, if there’s more people bonding the discounts we give go down, and likewise they go up if there’s less bonding and staking, but in general we try to maintain an APY of 200,000% that’s our sustainable sweet spot. We are a team of 24 people, 8 people in front end operations and management marketing and admin, and 16 people on the development team which is a full range of developers, designers, blockchain developers and full stack developers. On the front end our management team consists of high level financial experts from the banking sector having held very senior positions, we have a professor of economics and a cyber security expert from one of the world’s biggest banks. So, we are a strong team. Head offices in Hungary but we are spread out all over the world. We are now no longer a startup or in development although we are continuously developing our technology and functions. We are expanding fast; we are not just staking and bonding and taking your profits, we are providing utility and we are building our own metaverse focused on the business ecosystem rather than social media or gaming although we do have those aspects too.
Q3. How are you different from other DAOs?
Mr.Oliver: The main point here is our utility and that we are building an ecosystem. We have also analyzed some flaws with the current ohmforks and we have implemented 3 days linear vesting. We are always doing competitor analysis. We want to keep our APY competitive but sustainable. We try to maintain our apy at 200,000% this is already an insane number compared to some projects but in the past 100 0r 200 used to be amazing, now we can reach these insane APYs due to the effect of compounding, we have seen DAOs with APYs in the million or billions which is unstainable and these types of projects don’t tend to last too long. Our APY is currently one of the better ones in the market but we can actually sustain this APY. Also a huge difference is that we want to instill confidence and trust, we are fully Doxxed and we have strong partnerships coming up.
We are building our own metaverse and we have our own treasury which backs our token with real underlying assets and security
Q4. What does the future hold for MetaReserve? Can you share your roadmap with us?
Mr.Oliver: Yes I can. And you can check out our roadmap in our website also, it’s here:
But I will summarize a few details for you:
2022 is going to be a massive year for us. Right now we are having a Certik audit, we are sure that this audit will be successful since there are no backdoors to our codes. By this month, we are going to be adding assets for bonding. Later on, we are going to have partnerships, but it’s going to be announced over the next coming weeks. Q1 which is now is to work on our current platform, implementing things like wrapped HONOR, rep-honor which will allow us to onboard and attract US and Canadian investors because it overcomes certain tax issues by making profits capital gains rather than income tax, integrating the snapshot function to allow voting on proposals from the community, enhance UI to provide charts and more features like giving more bonding options. This is the period to really boost our marketing efforts.
Q2 – developing MetaReserve Laboratory and MetaMarket (NFT marketplace), we will be working with partners to issue some really interesting NFTs that have exciting utilities in the metaverse and even use these NFTs for some play to earn (p2e) games. As we have more concrete info we will provide to the community.
Q2-3: we will start developments for the metaverse, a virtual business and innovation center that includes gaming and NFTs.
Q3-4: We will also start building the MetaDEX, a Decentralized exchange which will be able to support multiple chains.
Along the way we will update and release more exact dates as things happen and start
All of the functions will be integrated and showcased in the metaverse, so imagine walking into a virtual world where you can “enter an exchange” which leads you to our metaDEX interface (website), walk into “MetaReserve HQ” and you will be brought to our staking and bonding interface. walk into MetaMarket and you’ll be able to view a gallery of the NFTs, select what you like and buy them off our MetaMarket site.
Q5. How are you ensuring security?
Mr.Oliver:Our codes are a fork of Olympus, till date they have not been hacked or exploited so that’s good to know but to enhance the security level, we have our in house security team, we have also sent in our codes to Certik for an audit and will also subscribe for Skynet which is a service from Certik that monitors our contracts 24/7, any changes to contracts or if there’s any potential malicious attacks, we will be alerted. Also what’s important is the Treasury’s safety and control, Olympus has 4 out of 7 signatories required to approve any transactions from the Treasury contract, we have enabled multi sig as well and it’s 6 out of 9 signatories required, of which I am one of the approvers as well.
Also our linear vesting period on staking and bonding to reduce or mitigate dumping on the market and the price tanking, and anti whale mechanisms which we hope will reduce the threat of whale manipulations.
No pre-minting so none of our team or management had pre minted coins. We are not whales in our own currency and we cannot tank the price, dump onto the market or manipulate, I think that in itself is a huge security feature and shows that we are truly truly decentralized.
Our treasury backs our token so we can support it buy back coins and burn if necessary to avoid inflation, and even though at this stage the treasury can’t support the full value it certainly supports a minimum value which the coin can never fall under, which makes it safer than most and again that’s a huge security feature
Q6. So MetaReserve is a DAO, but what kind of decisions can they vote on about the project?
Mr.Oliver: First we will have to take a snapshot of their $HONOR holding and the more $HONOR they hold, the more voting power they have. And we have forums so that the people can vote on. For the decisions, they can vote on many aspects of the company and previously I have stated that the people can vote on the projects that we’re going to incubate through our Meta Laboratory, vote on the changes of the treasury or any changes in our development in the future.
Q7. Where do you see POWER’s price in 6 months or a year later? 6-12 months a lot higher
Mr.Oliver: Well this is not something that I can predict. This is a speculative question so I cannot be sure of the future of the $POWER’s token in 6 months. Obviously, it depends on the market. But as a CSO in MetaReserve, I do believe that it’s going to be bullish towards the end of this year
Q8. Are there any exciting news for us today that you want to share?
Mr.Oliver: Yes I have some quite big news for the people today. Right now we are signing partnerships, contracts with financial institutions, signing contracts with 1 music related ambassador, a few sport teams, and also we are designing our own NFTs, … But of course everything will be disclosed in detail as these are still in discussions. Once they are finalized, we will announce them on our socials.