TrustedNode x Satoshi Club AMA Recap from 21st of October
Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from TrustedNode and our guests were @NicSpu @Gniar and @srust99. The AMA took place on 21 October.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram community
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with TrustedNode! Welcome to Satoshi Club😀
Jonah 🏅🎹 | Satoshi Club: @NicSpu @Gniar and @srust99 welcome to Satoshi Club 👏
Stefan Rust: thank you
JST: Thank you Jonah for having us here
Stefan Rust: glad to be here
Mary | Satoshi Club: Welcome here, guys! How are you today? 😀
Stefan Rust: doing great
Mary | Satoshi Club: Excellent! So, now we can start our AMA 🚀
And let’s start with intro 😀
Could you please introduce yourself and tell us more about TrustedNode?
Stefan Rust: I am Stefan, the former CEO of bitcoin.com and have been in crypto since 2012.
I’ve been building developer communities around the world for globally leading technology companies pretty much all my career, both as an entrepreneur as well as for Java at Sun Microsystems.
At Trusted Node we have pulled together an amazing team with an aggregate of 30+ years of experience in crypto and then in technology as well. The team has been leading product management, development, and marketing with leading companies including bitcoin.com, crypto.com, Nest, Horizon, AAX, Amadeus.
Mary | Satoshi Club: Wow, legend 😀 happy to e-meet you 👍
Jonah 🏅🎹 | Satoshi Club: 30+ years is awesome
Stefan Rust: yeah we got an awesome team
super happy to be working with a truly passionate and committed team and group of decentralized believers
Jonah 🏅🎹 | Satoshi Club: 👏.. Are you all from same region?
Stefan Rust: nope we are a global team, comprised of Americans, Japanese, Chinese, French, Venezuelan, Brazilian
Stefan Rust: oh and an English
Mary | Satoshi Club: What is TrustedNode? Your main goal? Why crypto needs your project?
Stefan Rust: Simply said, Trusted Node allows users to become node validators by staking their assets through our platform, keeping control over their funds at all times
When you delegate your funds to a validator node to secure the blockchain, your funds are locked up. With liquid staking, you can free up your funds to earn additional rewards, while keeping base capital untouched.
we are looking to 1. secure the networks, 2. increase the efficiency of securing the networks
efficiency of capital while securing the networks
Mary | Satoshi Club: It’s attractive and promises us additional financial freedom
Stefan Rust: as PoS started to grow, i found that i had staked my crypto in so many chains early on where the only way you could interact with the chains was through CLI
so 1. it was complicated and the UX was challenging
Mary | Satoshi Club: Which PoS coins did you stake?
Stefan Rust: 2. a lot of people leave their crypto on exchanges, and it is not adding value to the ecosystem and not paying rewards nor capturing potential airdrops, and exchanges are not always focused on maintaining the nodes and don’t necessarily pass that on to their users
Mary | Satoshi Club: True😀
Stefan Rust: so we want to make it easy to use and share the rewards with the users and then “boost” those rewards with yields and provide governance participation
Jonah 🏅🎹 | Satoshi Club: Yeah totally correct
Stefan Rust: Eth2, cosmos, DVPN
Mary | Satoshi Club: Your goals are impressive😀
Stefan Rust: that was after mining
Mary | Satoshi Club: Oh, early staker, now it’s much easier to stake Cosmos, for example
Stefan Rust: we really believe in a multichain decentralized world
yes especially if you use the Keplr wallet, you can stake straight from the wallet
Mary | Satoshi Club: You read my thoughts) that’s directly what I do
Stefan Rust: it’s super easy and you see the list of validators and you just “bond” your token with them and can even through the wallet claim your rewards at any time
Jonah 🏅🎹 | Satoshi Club: Yeah… Super easy indeed
Mary | Satoshi Club: 👍
Thank you, guys, for your impressive intro! Now I am even more excited to read your answers to the questions from our community 😀 we choose 6 for the first part.
Stefan Rust: so we’re looking to combine the best of multiple worlds into a user interface so you can manage from one interface across multiple chains
Mary | Satoshi Club: Cross-chain future is almost here)
Jonah 🏅🎹 | Satoshi Club: This will simplify the whole process 👏
Stefan Rust: it’s coming we still have some cumbersome bridges, however, they will get better and better
this is inevitable
Jonah 🏅🎹 | Satoshi Club: Yeah.. and very much needed
here is the first interface that we launched last week
and the team is already adding new chains and working on user feedback around UX
Mary | Satoshi Club: When do you plan to launch?
Jonah 🏅🎹 | Satoshi Club: The interface Looks great
Stefan Rust: thank you
sorry we already launched
the product and staking portal is live today
the token launch and the vaults will come in the next few weeks
we are launching our token in early November
Mary | Satoshi Club: Wow! Congratulations 👏👏👏
Stefan Rust: yup, we’re working on a tight timeline
we want to build a strong sustainable product and show that we are a team that deliver and execute our commitments
Mary | Satoshi Club: Btw, our first question is about your token😉
Stefan Rust: while listening to what our users ask from us
Q1 from Telegram user @Asela1112
With a 1 billion total supply, the $TNODE token serves as the native currency within the Trusted Node platform. You have allocated 2% for the public sale purpose while you allocate more portions for other purposes. Why did you decide to allocate such a small amount for public sale through retail investors wait for buying $TNODE tokens as much as they can? Can you provide the token emission schedule?
Stefan Rust: the biggest allocation for tokens is dedicated to rewards
Mary | Satoshi Club: How we will be able to get rewards?
What do users need to do?
Stefan Rust: with a very limited amount of circulating supply which will allow early adopters to get rewards for their early support and adoption
by delegating, participating in the governance, staking in the vaults, and providing liquidity
Mary | Satoshi Club: That’s nice! True crypto
Gotcha 👍 now we have more incentives to use your platform
Stefan Rust: at listing there will be a max supply of 6% which is unlocked and the private investors are buying at the same price as the price of the listing
Mary | Satoshi Club: Will investor’s tokens are locked?
Stefan Rust: the team is locked into the project for 12 months before they can receive any distributions which they are linearly unlocked over the subsequent 24 months
yes. the investors get 5% to unlock at listing and then have to also wait 12 months before a 24 month linear unlock
Jonah 🏅🎹 | Satoshi Club: Awesome this is great indeed for your token
Stefan Rust: private sale price = pre-sale price = public sale price
Mary | Satoshi Club: Can you tell us more details about the public sales?
Stefan Rust: yes we’re looking at a public sale on DEX
on uniswap and sushiswap at first in the first half of November
Mary | Satoshi Club: We will follow your updates for more info😀 and of course don’t forget to share with us when everything will be ready for the sale
Stefan Rust: yes please do
Mary | Satoshi Club: Thank you for your answers! Ready to proceed?😀
Stefan Rust: you can follow us on Twitter, Medium, and Telegram group for all the updates
Mary | Satoshi Club: Sure 👍
Stefan Rust: https://t.me/trustednode_io
just thought I’d get all the links in here
hope that’s not too hardcore :))
Jonah 🏅🎹 | Satoshi Club: Thank you for sharing.. 👏
Stefan Rust: we just want to communicate through these channels only
Mary | Satoshi Club: No, that is what we need)
Jonah 🏅🎹 | Satoshi Club: Ready for Next Question?
Stefan Rust: yes, please
Q2 from Telegram User @Jmagsss
Trusted Node will be interacting with several PoS networks from various blockchains and networks to maximize yields and staking rewards. For its initial release, what is the staking pool that will feature your platform? Also, it would be nice if the community can decide on what pool shall be on the platform so, can the community propose on what pool shall be featured next?
Stefan Rust: We are focusing our efforts on the Cosmos and Polkadot ecosystems.
Cosmos (DVPN, IRIS, REGEN, CRO
Polkadot (Nodle, KSM, HydraDX, Moonriver)
In addition we will support other major blockchains are also looking to add Cardano, Avalanche, Polygon, Terra, Solana and maybe others.
we want the community to tell us which ones we should focus on next.
Mary | Satoshi Club: Any plans to add Rowan, Osmo, Juno?😀
Stefan Rust: By staking TNODE and becoming a DAO member, users will be able to boost their yield and earn $TNODE in addition to their Delegation rewards.
yes we’ve already reached out to Osmosis, that’s a cool project with great UX too
Mary | Satoshi Club: Cool! Full of rewards platform 😀
Stefan Rust: Rowan and Juno are on our list now and would love an introduction should you be able
i would much appreciate that
Mary | Satoshi Club: We will see what we can do😀
Stefan Rust: thanks
Mary | Satoshi Club: So, to stake on your platform what i need to do? Can i connect for example with keplr wallet and stake?
Stefan Rust: yup and you can do that right away already today
Mary | Satoshi Club: Which wallets do you support?
Stefan Rust: we support Keplr today
we will support terrastation and then Metamask for now
polkadotjs will be coming soon
Jonah 🏅🎹 | Satoshi Club: Great choices..
Mary | Satoshi Club: Gotcha! Awesome! Easy to stake!
Thank you for your answers! Ready to jump to the next question?🔥
Stefan Rust: yes please
Q3 from Telegram User @RuthPius
In your website, You talked about “Bringing non-custodial liquid staking to Proof-of-Stake networks”. I must say, I am familiar with Stalking but the term “Liquid Staking” is new and unfamiliar to me and I will like to know more about what this term entails. So please can you use this opportunity to school us on what Liquid staking is all about? How is it similar or different to regular staking? Are there any pros or cons users should know before getting involved in Liquid Staking? And please can you also give us a detailed explanation on the Custodian and Non-custodian Liquid Staking mentioned in your website?
Stefan Rust: that’s a loaded question
Mary | Satoshi Club: Take your time 😀
Stefan Rust: liquid staking is that you keep your base capital which can still be earning you the PoS rewards. while you at the same time you can recieve a derivative representing your base capital which you again in turn can use for locking in various defi products, vaults or even trade and use as collateral
freeing up your base capital while still earning rewards and potentially stacking your yield
we will be having a set of vaults that we are building to offer you additional rewards for your derivative token
Mary | Satoshi Club: Can you explain on simple example for those who are new in cryptospace
Stefan Rust: ok you stake your ATOM
you earn 8% PoS APY rewards
say you staked 10 ATOM you will recieve a derivative representing these 10ATOM in the form of a new token which we call tATOM
Mary | Satoshi Club: Wow😀
Stefan Rust: the 10 ATOM and the 10 tATOM are 1:1 exchangeable
then you can use this tATOM to stake in our vaults to earn additional yield and rewards.
we call this last paragraph yield stacking
Mary | Satoshi Club: Any risks?😀 Because i almost pressed unstake button 🤣
Jonah 🏅🎹 | Satoshi Club: 😂..
Stefan Rust: that’s what we want
with staking there is no real underlying risk on the staking portal, other than possibly slashing or if we have down time
btw there will be no need for you to unstake and wait the 21 days for unbonding, we will ahve a new feature soon
Mary | Satoshi Club: Unbelievable 🤣
Jonah 🏅🎹 | Satoshi Club: At the moment how many Vaults do you have?
Stefan Rust: we will enabe a seemless transition of your staked funds from other validators to tnode
Mary | Satoshi Club: Excellent system, my applouds 👏
Stefan Rust: atm our vaults aren’t live, they are completing their security audit. The vaults will launch with the tokens first half of november
and ooooh btw we are adding an insurance feature just in case to provide our users with an added level of security and comfort
Jonah 🏅🎹 | Satoshi Club: What Vaults do you intend to launch with?
Great.. 😁.. will this insurance be for all Users?
Stefan Rust: we’re starting with liquidity vaults with our token launch for the TNODE token
at the beginning we will be insuring for the whole network and further down the road we will then be adding a feature where each user can choose from a set of insurance policy for themselves
Jonah 🏅🎹 | Satoshi Club: Awesome this is Great.. 👏
Mary | Satoshi Club: Thank you, Stefan for your answers! Ready to go to the next question?😀
Stefan Rust: yes please
Q4 from Telegram user @victorogb
With Proof of Stake networks, validator nodes are vital to the integrity and overall health of the network. With such importance attached to their duties, can you let us know how TrustedNode chooses it’s validators, what are your basic requirements, and are there any fundamental technical and hardware requirements? Also, judging from the tasks of these validators, how does TrustedNode reward high performing validators?
Stefan Rust: We agree that securing the blockchain will be a crucial role for trusted node as a validator
We want to work with the protocols to maintain the software, secure uptime and support with rapid upgrades turnarounds and patch-fixes
once our snapshot.org page is live and integrated we can include recommendation from the community.
until then though we choose the networks based on a mix of activities including
Team strategy and positioning,
infrastructure and resources requirements balanced against expected return and yield
developer activity and community engagement
business development skills, partnership and ecosystem contributions
and finally expected volume and transactions on the network
Mary | Satoshi Club: I even don’t know what to add, because i see a lot of sense in your words😀 it’s excellent point of view and strategy
Jonah 🏅🎹 | Satoshi Club: You are looking out for very important Things.. 👏
Mary | Satoshi Club: Stefan, thank you for your answers! Ready to proceed?
Stefan Rust: yes
Q5 from Telegram User @DK177
You have mentioned that DAO members who have their TNODE in escrow may be eligible to a portion of the fees paid to Trusted Node. My question is, how do you calculate the portion of the fees which will be distributed to each member? Please explain if there are any requirements for DAO members to fulfill to receive a better share. Further, please let us know what type of fees do you consider for this distribution. Are all the fees included or do you allocate a portion from a specific fee?
Stefan Rust: we are still working on the final calcuations and distributions. we will communicate that as they become a part of the operating model
Mary | Satoshi Club: Ok, but you already know what fees will you have on your platform?
Stefan Rust: It will be rewarding to be a DAO member
Jonah 🏅🎹 | Satoshi Club: Yeah.. it will you’ve got Alot of plans for that
Stefan Rust: part of it will be comissions should we decide to charge for those and we will have a minimal tx fee when engaging with the various smart contracts on trusted node
Mary | Satoshi Club: Gotcha! 👍
Thank you for your answers! Ready for the 6th and last question from this part?🚀
Stefan Rust: bring it on
Q6 from Telegram User @Orlemys
I realized that your app has already launched, so instead of asking you about the technicals aspects of your platform, I would like to ask about the results your community has gotten. How many active users are currently using your vaults, and how much value have they generated? Are there any penalties from staking or locked periods? Do you think those who staked for a short time were satisfied? How do you listen to community feedback and why should I be a user of this platform?
Stefan Rust: currently there is $9m staked in the nodes supported by Trusted Node
Mary | Satoshi Club: Nice beginning 👍
Stefan Rust: there as specific native chain requirements that our users will need to adhere to
they vary from chain to chain
Jonah 🏅🎹 | Satoshi Club: How many nodes are they all together?
Stefan Rust: so far we are getting good feedback from our users
and we listen to them through our channels that I shared above. We will be formalizing more of this interaction as we develop our governance model and build out our snapshot.org interface
1 validator node per chain for now, so 5
Part 2 — live questions from the Telegram community
Q1 from telegram username @Arisabela
Many of the benefits that are reflected in your products are for your DAO members, so I would like to inquire about that, what your governance system consists of and how can someone be part of it? Is it necessary for DAO members to also be stakers or can they receive passive income in other ways?
Stefan Rust: You can use our platform without being a DAO member and earn basic PoS rewards.
However, you can become a DAO member by staking our TNODE governance token.
DAO members have yield-boost and voting power in the Trusted Node platform as well as in all the chains we have listed. In other words, cross-chain governance.
Q2 from telegram username @victorogb
What would be your immediate and long-term strategies for a bigger and more engaging community of members and investors?
JST: We are partnering with a lot of projects/blockchains in order to attract a bigger audience and grow our user base.
Not only this, but the innovative staking features we are / will be offering will definitely bring a lot of users to Trusted Node.
Imagine using your funds and getting dual rewards and dual governance powers
Q3 from telegram username @Kushal85127939
Have you guys considered auditing Trusted Node Smart contract to ensure the safety & security of users? When we can expect the announcement of auditing smart contracts?
Stefan Rust: yes as mentioned, our vaults are undergoing smart contract audit with Obelisk and this has been publicly announced as well. this will conclude very soon so that we can start offering secure and safe vaults to our users.
Our insurance partner is also reviewing the audit and our vaults as well
Q4 from telegram username @Gen_Block
Partners are fundamental and can not be separated from a project when we want it success. Can you mention powerful partners who work with TrustedNode in developing the project? And Why did you choose to collaborate with them?
Stefan Rust: we are working with Tavis Digital as they have experience in blockchain as well as deep relationship with investors and other financial services industry as a fund manager
we are also partnering with software developer autonio to ensure we work with good developers with deep blockchain network, understanding and skills around developement
we have a number of additional partners we will be adding to this list along with companies like obelisk for vault audits and ensuring our security
insurance partnerships will be coming as welll
Q5 from telegram username @highpee
In most cases, once someone staked asset, the asset is locked and ILLIQUID. But you said you will have LIQUID STAKING that will ensure users can still earn profit from their assets even when it is staked. How will it be possible for users to earn when their asset are staked? Will you give them a temporary token?
Sunny: we will provide our users with a derivative token with the base capital remaining untouched and earning yield. the derivative token can then also be used to “stack” additional yield by providing liquidity, using it in DeFi or even as a collateral
Q6 from telegram username @NAZMP2
Is it true that Trusted Node presale will be held in November? Is there a certain schedule for this? What is the best way for us to get involved with the Presale?
JST: We are indeed having our presale early November.
We are currently finalizing everything with the launchpad and we will release all the details in our telegram group.
Right after, we will create our pair on uniswap and launch to the public.
Remember that private sale price = presale price = public launch
Q7 from telegram username @Rakshhitx5
Why did you choose Polkadot for coin integration with Staking Portal? Is PolkaDot better than all others available in the market?
Stefan Rust: we chose cosmos and polkadot as they are buidling our their network bridging mutliple layer 1 chains through “zones” or through “parachains”. Each of these chains have a need for validators and their infrastructure don’t vary too much while working with a consistent framework and standard set for consistency as a fundamental level
this allows us to be a bit more efficient in our node maintanance and management
they also both believe in crosschain future which is what we believe in as well
Q8 from telegram username @Nhairym
Why do you consider that users are losing their participation rewards through exchanges, how can they regain ownership of the tokens, can their nodes be applied to external Trusted projects or are they for their exclusive use?
Stefan Rust: you have your crypto assets on an exchange, the exchange itself in order to provide you the trading capability need to host nodes.
So the CEX use the capital locked in their customers accounts to lock into validator nodes and earn the rewards
these rewards only recently have begun to be shared by certain exchanges with the users. In the past this was not the case
also as you experience today when a network offering airdrops take a snapshot to share tokens with their holders, the CEX wallets are reflected in that snapshot which are holding your crypto assets. These wallets can claim the rewards, which in turn aren’t always (or very seldom) are passed on to their users
some CEX are good examples, but they are surely in the minority
we want you to get all the rewards for you assets and airdrops too
Q9 from telegram username @adaatalay
I read on your Trusted Node website that $TNODE token holders can increase their verification reward. How will you encourage me as the owner of $TNODE? Will I have a vote in my governance?
Sunn: We’re building a product for the people and we’re looking for the community to tell us how to develop the product over time. We believe that thanks to the tokenomics users are now also shareholders. Whereas in the past these have always been two separate constituents providing huge conflict at the product or business level. Whereby unfortunately the user always seems to lose out as we have been educated to focus on “shareholder value” not customer value
We believe the DAO aligns the interest
So therefore not only will TNODE holders be able to participate in the governance of Trusted Node, they will also be able to participate in the governance of the underlying blockchains through their ownership of TNODE and the voting power of Trusted Node thanks to the funds delegated to protect and secure the respective blockchain.
Q10 from telegram username @Pratze
I read that TrustedNode.io is already live and we possible to start earning from your platform, but i still confuse about how to stake, do you have any guide or article about how to start for new user ? what is the minimum requirement to start?
Stefan Rust: you can find simple user guides in our medium page to help simplify this process for you
here is an example
how to delegate IRIS using the Keplr wallet
here is how to delegate ATOM
Part 3 — Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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About Trusted Node
Trusted Node is creating a validator network for proof-of-stake and next-generation blockchains. It allows for professional stewardship of the network while providing yields to stakeholders who participate in the decision-making around nodes in the network infrastructure.
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