Jun 5
MorganDao x IM community AMA RECAP
🐋TELEGRAM AMA: Im Community & MorganDao 🐋
⏰ AMA Timing : 3 June 2022 l 01:00 PM UTC l 20:00 GMT +7
Venue For AMA : https://t.me/imcommunityitw
🎁 Reward Pool 100 USDT
➡️ The reward pool for the best 5 questions from Telegram is $50($10 Each) 💸
➡️ The reward pool for the best 5 questions from Twitter is $50 ($10 Each) 💸
Bà Tân | : Welcome @hw3333 & @LynnCrypto1 from MorganDao ���
Bà Tân | : Welcome everyone. Today Im Community will host AMA with MorganDao.
Bà Tân | : Today our guest is: @hw3333 & @LynnCrypto1 from MorganDao.
Ahrix : Welcome @hw3333 & @LynnCrypto1 to the IM community.
Bà Tân | : Before the first, please introduce yourself a little bit: @hw3333 & @LynnCrypto1 ���
Hazel Woo : Hi everyone, this is Hazel from MorganDAO. I have been in the blockchain industry for 2 years, started off with Bitcoin and then got into the DeFi space. It’s my pleasure to be invited as the guest speaker today. I will do my best to share with you about MorganDAO and answer the questions you have.
Lynn Crypto : I’m Lynn from MorganDAO. I was introduced to the blockchain world since 5 years ago, but I only got serious about 3 years ago. I am honoured to be given opportunities to be part of the development team in a few DeFi projects. Thank you for joining the AMA session tonight, I will do my best to answer the questions you have.
Bà Tân | : Everyone took 1 minute to join the group https://t.me/MorganDao. Session 3 of the AMA will be held here.
Bà Tân | : Everyone ready for session 3 of the AMA.
Alan : Welcome everyone ���
Bà Tân | : Thanks for the introduction from Team MorganDao.
Bà Tân | : @hw3333 & @LynnCrypto1 Please choose the best 5 questions and answer it for session 3, Thank you ���
Q1. How safe is your platform? Has there been any Audit so that its safe from bugs and smart contract is fully audited? @hw3333
Hazel Woo : MorganDAO will always give priority to security and project sustainability. We want to make sure our investors’ funds are being safeguarded, thus we are sending our smart contract for audit after we have achieved our fundraised goal.
Generally smart contract audit takes between 2 to 3 weeks, depending on the complexity of the project and smart contract size and we will strive to achieve this by keeping continuous communication with auditors and make sure smart contracts and codes audited on a regular basis.
Q2. Can you tell me more details on the IDO? The schedule and contribution for each?
Lynn Crypto : Soon, we will be conducting our IDO and launching the protocol liquidity. The IDO price of MOS will be $8, and the listing price will be $12/ token, for those who get the whitelist, then can participant our IDO with mininum 500USDT to maxinum 1000USDT, we are looking to raise $300,000 for our IDO.
Q3. ���Doesn’t the MOS token covert into a Stablecoin because it is a reserve token?
Lynn Crypto : ���Could you please explain how the MOS token is purchased? What exchanges does this token work with?
MOS is decentralized reserve currency but it’s a not stablecoin. Stablecoins are pegged while MOS is backed. Think pegged == 1, while backed >= 1.
For example, 1 USDT is pegged by 1 USD which means that 1 USDT will always be 1 USD.
Each MOS is backed by 1 USDT, not pegged to it, which means that the intrinsic value of MOS is at least 1 USDT. As the treasury backs every MOS with at least 1 USDT, the protocol would buy back and burn MOS when it trades below 1 USDT. This action has the effect of pushing the MOS price back up to 1 USDT. MOS could always be traded above 1 USDT because there is no upper limit imposed by the protocol.
You might say that the floor price or intrinsic value of MOS is 1 USDT, but we believe the actual price will always be 1 USDT + premium. Eventually that is up to the market to decide.
Our IDO and launch of token will be conducted in the middle of June. When the token is listed, you can purchase it on PancakeSwap or through bonding on our official website.
Q4. Do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?
Lynn Crypto : Hi yes, we do have plans on the burning of MOS tokens in the future and it for sure will be in the pipelines.
The team at MorganDAO have set and decided on certain targets and factors before implementing our burn protocol and this will happen in the near future, so please stay tuned for our announcements and news in our telegram and social media channels.
We believe that with the burning of MOS tokens, there will be no doubt that the value of MOS will increase for all investors and participants.
Q5. Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product?Do you allow suggestions and feedback from the community? Are we allowed in decision making, do you put community into consideration ?
Hazel Woo : Yes, definitely. MorganDAO belongs to the community. Any changes made to the protocol will be voted, made and governed by the community. Please take note that at the initial stage, important decisions are being taken by the founding team but we are gradually moving towards a DAO-governance model.
Token holders will have the rights to vote based on the proportion of their holdings. Holders can propose any idea or plan, and then the proposed plan shall be voted to decide if the plan goes on.
Community is the greatest asset of MorganDAO. We value and appreciate the feedback from the community.
Bà Tân | : Thanks for the useful information from @hw3333 & @LynnCrypto1
Lynn Crypto : Thank you so much!
Hazel Woo : Thank you!
Bà Tân | : IM Community, if you would like to know more about MorganDao ! here are some useful links for you:
Official Website: https://morgandao.money
Twitter: https://twitter.com/MorganDAO_
Telegram: https://t.me/MorganDao
Github: https://github.com/MorganDAO/
Medium: https://medium.com/@morgandao.money
Docs: https://docs.morgandao.money/introduction/faq
Bà Tân | : Allright, I declare the Im Community AMA with MorganDao has ended.
Thanks to @hw3333 & @LynnCrypto1 | MorganDao joined us and provided us with MorganDao information, we hope that this knowledge makes us understand more about https://morgandao.money (https://morgandao.money/)
To the members, thank you for following this event to the end. winners will be announced soon.
Thanks @hw3333 & @LynnCrypto1 for joining the AMA today. Have a good day.
Hazel Woo : Thank you for the amazing session!
Congratulations to the winners of session 3.
