IoTeX x IM Community AMA Recap
đ TELEGRAM AMA: Im Community & IoTeX đ
â° AMA Timing : 15 March 2021 l 01:00 PM UTC
Venue For AMA : https://t.me/imcommunityitw
đ Reward Pool 100 USDT
Bà Tân | : Welcome @Alina_IoTeX from IoTeX
Bà Tân | : Welcome everyone. Today Im Community will host AMA with IoTeX.
Bà Tân | : Today our guest is: @Alina_IoTeX from IoTeX.
Bà Tân | : Please introduce yourself a bit: @Alina_IoTeX
Alina_IoTeX : Definitely! Hi everyone! My name is Alina and I am a Global Community Lead at IoTeX. I have been with the project for 2.5 years and joined shortly after it was founded in 2017. I was fascinated by the teamâs background and projectâs vision when I first came across it. Knowing how valuable our data and privacy are and the problems that exist in this space, I wanted to become a part of a project that is solving these problems and giving people back the full control.
I have a degree in BComm and over 14 years of experience working in Customer Service, Marketing and Project Management, as well as co-founded several start-ups. My role includes managing IoTeXâs communications channels, developing community engagement strategies and overseeing the Brand Ambassador Program in order to bring IoTeXâs products and services to the masses and communities across the world.
Bà Tân | : Thanks for the introduction.
BĂ Tân | : Todayâs AMA will have 3 sessions
Sessions 1: The chat will be muted & the team will introduce themselves then we will ask some introduction questions to the team IoTeX
Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1370700068890705921).
Sessions 3: The conversation will open to the community questions and the 5 best questions will be selected
BĂ Tân | : Rules to follow AMA : ⤾ď¸
âŤď¸ Join : Telegram group IoTeX Official Group (https://t.me/IoTeXGroup) , IoTeX Announcement Channel (https://t.me/iotexchannel) and IM Community (https://t.me/imcommunityitw) , Channel Im community (https://t.me/imcommunityit)
âŤď¸Follow: Twitter IoTeX (https://twitter.com/iotex_io) and IM Community (https://twitter.com/IM_Communityitw)
Web & Community:
đ https://iotex.io/
BĂ Tân | : Please fill out this form to be eligible to receive rewards from IoTeXâs AMAs and other campaigns. All users will receive a complimentary 10,000 VITA for their submissions.
Detail: https://forms.gle/PyuYdBaaNPATVjji7
nice!!
Bà Tân | : Start session 1 AMA
Bà Tân | : 5 questions in session 1
Bà Tân | : Question1. Can you briefly describe what is IOTEX ? We would like to know more about it and how it works. @Alina_IoTeX
Alina_IoTeX : IoTeX started in 2017 as an open-source project with a vision for the Internet of Trusted Things â an open ecosystem where humans and machines can interact with guaranteed trust, free will, and privacy. IoTeX combines blockchain, secure hardware, and confidential computing to enable trusted data from trusted devices for use in trusted Dapps.
IoTeX was built 100% from scratch (no forks!) and is tailor fit to support Blockchain + IoT use cases. IoTeX is now empowering privacy-preserving smart devices like Ucam and Pebble Tracker, which are the worldâs first #OwnYourData devices. The IoTeX team is based in Silicon Valley and consists of 30+ top tier engineers and scientists from Uber, Google, Intel, Facebook, and other top tech companies. Currently, the IoTeX Network is maintained by 60+ global Delegates (https://member.iotex.io) including Blockfolio, CoinGecko, DraperDragon, and more.
Bà Tân | : Question2. What are your main features that distinguish you from other projects and what competitive advantages do you have?
Alina_IoTeX : IoTeX is building the first decentralized ecosystem where humans and machines can interact with guaranteed trust, free will, and privacy. We envision a future where self-sovereign users will exclusively own and control their devices, as well as the data and value they generate. We believe everyday people and businesses, not self-serving institutions, should be the ultimate benefactors of the future machine economy. We call our vision the Internet of Trusted Things.
Using blockchain and secure hardware, IoTeX not only addresses the IoTâs shortcomings in security, privacy, and interoperability, but also empowers users to capture value from the data/devices they own. With IoTeX, global citizens can finally break free from the shackles of centralized business models and find solace in our decentralized, user-owned ecosystem.
BĂ Tân | : Question3. Whatâs the motivation for starting to build IOTEX?
Alina_IoTeX : These days, all types of smart devices like cameras, thermostats, and virtual assistants are being installed in our homes and businesses at a blistering rate. Even traditionally âdumbâ devices, such as beds, mirrors, and toilets, are now equipped with WiFi and powerful sensors to make them âsmartâ â this phenomenon is called the Internet of Things (IoT). Whether you know it or not, IoT is part of everyoneâs lives and allows people to interact with machines to drive efficiencies and create value.
However, todayâs IoT is owned and controlled by institutions (e.g., tech giants, governments) and not users (like you and me). All of our highly sensitive IoT data, such as the videos from our home cameras, are owned by institutions and manipulated without our consent. Do we really have to accept a future where we are surveilled by institutions that collect our data, make our homes targets for hackers, and manipulate even the way we behave? No â we can build a much better future with IoTeX.
IoTeXâs goal is to enable a future that is connected, empowering and safe â no intrusive ads and surveillance, just privacy and peace of mind without sacrificing usability. The IoTeX platform enables builders to easily launch privacy-preserving IoT devices, apps, and networks. Just like Bitcoin has created a decentralized financial ecosystem, IoTeX is empowering a decentralized ecosystem for our smart devices â the Internet of Trusted Things.
IoTeXâs goal is to enable a future that is connected, empowering and safe â no intrusive ads and surveillance, just privacy and peace of mind without sacrificing usability. The IoTeX platform enables builders to easily launch privacy-preserving IoT devices, apps, and networks. Just like Bitcoin has created a decentralized financial ecosystem, IoTeX is empowering a decentralized ecosystem for our smart devices â the Internet of Trusted Things.
Bà Tân | : Question4. Can you tell me more and everyone here about services offered by IOTEX ?
Alina_IoTeX : The IoTeX platform is already supporting REAL IoT products that are âPowered by IoTeXâ and provide users full data ownership and privacy! #OwnYourData
- Ucam (https://ucam.iotex.io/) is the worldâs first private security camera built in partnership with Tenvis (https://www.tenvis.com/), a hardware giant that is currently Amazonâs Choice (https://www.amazon.com/TENVIS-Wireless-Surveillance-Security-Auto-Cruise/dp/B071DDBT7M) for cameras. Ucam is already in the hands of the IoTeX community and they LOVE it!
- Pebble Tracker (https://www.nordicsemi.com/News/2020/02/IoTeXs-Cellular-IoT-based-tracker-delivers-environmental-and-condition-data-for-assets-in-transit) is a decentralized asset tracking device developed in partnership with Nordic Semiconductor (https://www.nordicsemi.com/), one of the largest chip manufacturers in the world. Paired with our Edge Oracle, Pebble Tracker writes verifiable, real world IoT data (e.g., location, motion, climate) to the blockchain for use in smart contracts.
Check out DApps and other products on IoTeX âĄď¸ https://onboard.iotex.io/powered-by-iotex/dapps-products
Bà Tân | : Question5. Could you please provide some progress on your Roadmap and what results IOTEX has achieved so far? And any sneak peek into 2021 plans for IOTEX ?
Alina_IoTeX : IoTeX had a monumental year in 2020. Not only did we accomplish our planned initiatives, but we exceeded and beyond with a surge of new products, protocols, tokenomics, partnerships, and research milestones. Most importantly, we kicked off our transition from the IoTeX protocol to the IoTeX ecosystem with an ever-growing number of developers and companies building next-gen products on IoTeX. We will look back on 2020 as the year we drove to completion several individual pillars that will form the foundation for the Internet of Trusted Things.
Learn more in our blog
https://iotex.medium.com/iotex-2020-year-in-review-9e1e29b78ff6
In 2021, IoTeX will introduce the first decentralized autonomous machines (DAMs) that will unleash powerful DeFi & IoT applications that are only possible on IoTeX. A new machine economy will be born where sensors, devices, and machines will generate new synthetic assets and autonomously deliver monetary value to humans. From fractional ownership of machines to real-time leasing of resources (âmachine-as-a-serviceâ), IoTeX will establish a new paradigm for trusted human-machine interactions.
Bà Tân | : End of session 1
Bà Tân | : We will move on to session 2
Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1370700068890705921).
Bà Tân | : Question1. @huskyxzx (https://twitter.com/huskyxzx)
Each project created has its own mission and goals, so what are IoTeX âmissions and goals in the future? How important IoTeX will be to everyone in the future ?
Alina_IoTeX : We are on a mission to ensure everyday people and businesses can own and control their devices, as well as the data/value they generate. By connecting the physical and digital worlds, IoTeX will democratize access to machine-backed DApps, assets, and services to deliver value to users and fuel the new machine economy.
Bà Tân | : Question2. @Vinhnguvodoi (https://twitter.com/Vinhnguvodoi)
Are you planning on creating products on top of your chain? (some projects i know are doing it in order to create revenue to the project / company) In the crypto field its very hard to create revenue, so how does IOTEX
plan on creating revenue in the crypto world?
Alina_IoTeX : Yes, we have already created Ucam (https://ucam.iotex.io/) {the worldâs first private security camera} and
Pebble Tracker (https://www.nordicsemi.com/News/2020/02/IoTeXs-Cellular-IoT-based-tracker-delivers-environmental-and-condition-data-for-assets-in-transit) {a decentralized asset tracking device} that are powered by our blockhain.
In terms of the revenue, we take licensing / consulting fees for the device manufacturers we work with, we have revenue-share agreements with the chip manufacturers we work with, and we are funded from a private sale we held back in January 2018! The IoTeX Foundation is very healthy funds-wise, and we are getting more and more interest for another fundraising round from outside investors to fund new initiatives â stay tuned!
Bà Tân | : Question3. @nobita404 (https://twitter.com/nobita404)
How do you plan to spread awareness about your project in different countries/regions where English is not spoken well? Do you have local communities for them to let them better understand about your project?
Alina_IoTeX : We have a number of different initiatives internally and externally to foster and promote community education and awareness. First of all, shortly after the project was launched, we have introduced a Brand Ambassador Program https://goo.gl/owhmg5
Our Ambassadors help us to set up communities in different countries and educate local followers on all things IoTeX. Ambassadors also help with creating content, including step-by-step videos, explainers, guides, etc.
On a regular/monthly basis we host Town Halls/AMAs, where we share with the community things we are working on and whatâs coming up next and of course answer any questions they may have for us.
We are working on new tools/websites that will make it easier for the community to spread the word about IoTeX projects/products âĄď¸ https://onboard.iotex.io/
We also have an attractive referral program for Ucam, where the community can earn money for helping to bring Ucam to more people âĄď¸ https://shop.getucam.com/products/ucam-referral
Bà Tân | : Question4. @bao300 (https://twitter.com/bao300)
Can you give us an overview of IoTeX token economics? Is the token designed to rise and fall with the success of the platform, and does it include any scarcity paths such as stake, store, or burn?
Alina_IoTeX : Burn-Drop is an innovative tokenomics design where 1 Billion IOTX (10% of total supply) will be burned + dropped as we onboard the first 1 million âPowered by IoTeXâ devices.
Of the 1 Billion IOTX allocated to Burn-Drop, 900M (90%) will be burned and 100M (10%) will be dropped to long-term stakers.
This also means the total supply of IOTX will decrease for every newly registered device. Burn-Drop will bring new value to the IoTeX Network in various ways, including:
- Support device builders by covering certification costs
- Incentivize users to adopt âPowered by IoTeXâ devices
- Encourage all entities to evangelize IoTeX technology
- Reward long-term stakers and drive value to IOTX coin
Learn more: https://onboard.iotex.io/tokenomics/burn-drop
Bà Tân | : Question5. @Rszamora86 (https://twitter.com/Rszamora86)
Do you have a plan to motivate developers to create applications in the IoTex blockchain? Can you say in a few words why this developers should consider IoTex to work?
Alina_IoTeX : To encourage developers to build on IoTeX, we launched a developer grants program called Halo (https://iotex.io/halo). We have already received many interesting proposals for new projects, including asset tracking use cases, healthcare devices/wearables that let you own your health data, and industry-wide tools like DEX and wallet integrations. We encourage any developers out there to take a look at Halo and apply for a grant!
Join us to build a world of Internet of Trusted Things!
Bà Tân | : End of session 2
BĂ Tân | : Weâll move on to session 3
Rules to follow AMA : ⤾ď¸
âŤď¸ Join : Telegram group IoTeX Official Group (https://t.me/IoTeXGroup) , IoTeX Announcement Channel (https://t.me/iotexchannel) and IM Community (https://t.me/imcommunityitw) , Channel Im community (https://t.me/imcommunityit)
âŤď¸Follow: Twitter IoTeX (https://twitter.com/iotex_io) and IM Community (https://twitter.com/IM_Communityitw)
Web & Community:
đ https://iotex.io/
Bà Tân | : Sessions 3: The conversation will open to the community questions and the best questions will be selected.
BĂ Tân | : Please fill out this form to be eligible to receive rewards from IoTeXâs AMAs and other campaigns. All users will receive a complimentary 10,000 VITA for their submissions.
Detail: https://forms.gle/PyuYdBaaNPATVjji7
BĂ Tân | : Those who havenât joined @IoTeXGroup group will not be eligible for AMA rewards, make sure you did.
đJĹhn Lđ : nice!!
Bà Tân | : @Alina_IoTeX Pick the 5 best questions and answer it for session 3.
Q1. Can you tell me what is the role that IOTX uses in your ecosystem and what is the use that users can use? Can we do staking with it?
@Alina_IoTeX
Alina_IoTeX : The IoTeX Network is fueled by the native IOTX token. In addition to representing fractional ownership of the IoTeX Network, IOTX has multiple uses (or âutilityâ) to enable trusted and transparent interactions between various stakeholders, including users, Delegates, developers, and service providers. The IOTX token is the lifeblood of the IoTeX protocol and instills economic and reputational incentives to ensure the IoTeX Network is governed/maintained in a decentralized fashion.
IoTeX stakeholders can spend, stake, and/or burn IOTX in order to access network resources. As the utility of IOTX grows, the demand and value of IOTX will also grow, providing continued incentives for network participants to maintain and grow the network. As such, IOTX tokenomics are designed to balance incentives across multiple types of stakeholders:
- Users pay for DApps/services and stake/vote for Delegates with IOTX
- Developers power their devices/DApps and incentives via IOTX
- Delegates stake IOTX in order to be eligible to produce blocks
- Service Providers offer services to devices/DApps, paid in IOTX
Q2. How many people is IoTeX team and where is your head office?
Alina_IoTeX : We have 30+ people on our team, working remotely in different parts of the world, making IoTeX even more decentralized đ The HQ is in Sillicon Valley
Q3. Hello @Alina_IoTeX
What is the IOTEX team focusing on right now, is it building a strong community, new partnerships or is creating a new DEX to make the project grow & move forward?
Alina_IoTeX : Thanks for your question! We are doing all the things you have mentioned in your question đ We always focus on our community and look for ways to expand IoTeX to more countries, markets and partners.
Feel free to check out our detailed roadmap for 2021 in this blog https://medium.com/iotex/iotex-2021-the-year-ahead-acf743e2df03
Q4. Currently most investors only care about profits at the moment but ignore the long-term benefits. So can you give them some advice why they should buy and hold #IoTeX in the long term?
Alina_IoTeX : We definitely encourage new users to check out our staking & voting program to passively earn returns on their IOTX. We have prepared a blog to summarize all of the tools available for investors and regular community users https://community.iotex.io/t/maximizing-returns-on-your-iotx/1634
In addition, we launched an attractive referral program for Ucam {the worldâs first fully private home security camera}, where the community can earn money for helping to bring Ucam to more people. You can earn up to $10 per referral by sharing Ucam with your network by creating a unique referral link,
accumulating referral points, and cashing them in for cash/crypto prizes. https://community.iotex.io/t/ucam-referral-program-official-thread/1578
BĂ Tân | : Donât forget to fill out this form to be eligible to receive rewards from the IoTeX AMA and other campaigns. All users will get 10,000 VITA free of charge for their submissions.
Details: https://forms.gle/PyuYdBaaNPATVjji7
Q5. What plans do you have to help drive demand and scarcity for the token? Do you have any burn/buy-back program?
Alina_IoTeX : In order to help drive demand and scarcity of the token, we have created an innovative tokenomics program called Burn-Drop, where 1 Billion IOTX (10% of total supply) will be Burn-Dropped as we onboard the first 1 million âPowered by IoTeXâ devices. Out of the 1 Billion IOTX to be Burn-Dropped, 90% will be burned and 10% will be âdroppedâ (i.e., distributed to voters that auto-stake for ⼠91 days
Burn-Drop will have a total of ten phases with earlier phases having a higher Burn-Drop rate. In Phase 1 (i.e., the first 1,000 devices), a total of 100,000 IOTX will be Burn-Dropped for every new âPowered by IoTeXâ device. In subsequent phases, the Burn-Drop rate will be halved (i.e., Phase 2 = 50,000 IOTX Burn-Dropped per device) while the number of devices-per-phase will be doubled (i.e., Phase 2 = 2,000 devices). We provide the full Burn-Drop schedule below:
âĄď¸ Full Details on Burn-Drop: https://medium.com/@iotex/iotex-tokenomics-burn-drop-to-bootstrap-1-million-iotex-devices-66a43a1a68d7
Thanks for the useful information from @Alina_IoTeX.
Bà Tân | : End of session 3
Bà Tân | : For questions that have not been answered today, you can send them to @IoTeXGroup for answers.
BĂ Tân | : Donât forget to fill out this form to be eligible to receive rewards from the IoTeX AMA and other campaigns. All users will get 10,000 VITA free of charge for their submissions.
Details: https://forms.gle/PyuYdBaaNPATVjji7
Alina_IoTeX : Would like to thank everyone for taking their time to learn about IoTeX and innovations that we are working on! Would love to welcome you into our community and let you take advantage of all the tools and services we have to offer.
Join our Official Telegram group âĄď¸ https://t.me/IoTeXGroup to stay up-to-date with our progress and campaigns đŚž
Bà Tân | : Allright, i declare the Im Community AMA with IoTeX has ended
Thanks to @Alina_IoTeX | IoTeX has joined us and provided us with IoTeX information, we hope that this knowledge makes us understand more about https://iotex.io/
To the members, thank you for following this event to the end. winners will be announced soon.
đJĹhn Lđ : perfect
đJĹhn Lđ : Thank for coming here today @Alina_IoTeX
