Sienna Network x Im Community AMA Recap

🐋 TELEGRAM AMA: Im Community & Sienna Network 🐋
⏰ AMA Timing : 27 May 2021 l 02:00 PM UTC l 21:00 GMT +7
Venue For AMA : https://t.me/imcommunityitw

🎁 Reward Pool 100 USDT
Bà Tân | : Welcome @thisissienna from Sienna Network.

Bà Tân | : Welcome everyone. Today Im Community will host AMA with Sienna Network.

Bà Tân | : Today our guest is: @thisissienna from Sienna Network.

Sienna Network : Hi everyone, great to be here

Bà Tân | : Please introduce yourself a bit: @thisissienna

Sienna Network : Sure, I hope you’ve all had a chance to check out sienna.network, and maybe grab some tokens at Uniswap (v2) already — ahead of the main product launch soon. Sienna is a project focused on Privacy and a better experience thru lower prices, better UI and higher speed

Bà Tân | : Thanks for the introduction.

Bà Tân | : Today’s 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 Sienna Network

Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1397401965370347521).

Sessions 3: The conversation will open to the community questions and the 5 best questions will be selected.

Bà Tân | : Rules to follow AMA : ⤵️

▫️ Join : Telegram group Sienna Network (https://t.me/GoSiennaNetwork) , Sienna — Announcements (https://t.me/SiennaAnnouncements) and IM Community (https://t.me/imcommunityitw) , Channel Im community

(https://t.me/imcommunityit)▫️Follow: Twitter Sienna Network (https://twitter.com/sienna_network) and IM Community (https://twitter.com/IM_Communityitw)

Web & Community:

🌐https://sienna.network/

Absolutely, looking forward to your questions

Bà Tân | : Those who haven’t joined @GoSiennaNetwork group will not be eligible for AMA rewards, make sure you did.

Bà Tân | : Start session 1 AMA @thisissienna

Bà Tân | : Question1. Can you briefly describe what is Sienna Network? We would like to know more about it and how it works.

Sienna Network : Sienna Network is a privacy-first and cross-chain decentralized finance platform where you can soon privately swap, lend and convert your tokens into their private equivalent. Since the native Sienna isn’t based on ERC-20, the GAS-costs of using the platform are significantly lower and it’s much faster than ERC-20. Sienna makes private token-equivalents aka wrapped tokens possible, so e.g. UDST can become privateUSDT — and gain privacy preserving features. It works by using the first protocol that allows programmable privacy.

Bà Tân | : @thisissienna Please say “Done” when you have finished the question, thank you.

Sienna Network : sure

Sienna Network : next question please

Bà Tân | : Question2. What are the advantages of Sienna Network’s cross-chain decentralized finance and privacy-priority financial platform?

Sienna Network : What’s your next question?

Bà Tân | : @thisissienna Here is the next question

Sienna Network : Apart from the obvious advantages — that Sienna’s bridges will make it very simple to trade in privacy-preserving tokens on the marketplace, at much lower GAS and higher speeds, it’s important to understand what privacy means in this context — it means that users wallet address is private, and that contents of transactions are encrypted, which enable many much needed features for broader adoption of blockchain not least in B2B. For token holders there are great incentives as you can see here: https://sienna.network/swap/

done

Bà Tân | : Question3. What products are the Sienna Network team developing? @thisissienna

Sienna Network : Having first launched the utility token $Sienna and the wrapped ERC-20 version wSiena — trading now on Uniswap and gate.io — Sienna is focused on launching the bridges to other chains like Binance Smar Chain and Polkadot and SiennaSwap which will offer very attractive incentives and rewards. Later Sienna will launch more very attractive features as you can see in the Product Roadmap here: https://sienna.network/roadmap/

done

Bà Tân | : Question4. What results has the Sienna Network achieved so far? And is there any information on the 2021 plan for Sienna Network? @thisissienna

Sienna Network : After the oversubscribed private round which raised over 11m and the launch on Uniswap, Polkastarter and DAOmaker, Sienna will very soon launch the bridge(s) and Swap, soon to be followed by products build around the ability to keep data private in transactions and linked to IDs. Lending, incl. Undercollateralized lending, Fiat-Bridge and much more are the key roadmap milestones for 2021.

done

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/1397401965370347521).

Bà Tân | : Question1. @juki980

In the current scenario globally people are panic for crypto market as no such proper regulatory guidelines given to many countries , So whats your plan of action to convince investors for this project? @thisissienna

Sienna Network : sounds great, let’s do session 2

yes, there’s been a lot of turmoil in the last week for sure

Sienna already raised it’s private and IDO rounds — over 11m in total has been raised, so Investors believe in Sienna already. But the key now is use — that you start to use $SIENNA and realize it’s a very strong proposition and very attractive for liquidity mining and staking rewards. But Sienna also aim for professional adoption since we will deliver whats missing in blockchain today — support for the needs of business users.

done

Bà Tân | : Question2.@captain_price9

What functions will SIENNA and wSIENNA tokens perform in your ecosystem? Long-term adoption of project tokens will add strength to the project. So, what favorable conditions will you provide to promote long-term ownership of SIENNA or wSIENNA tokens?

Sienna Network : wSienna exists to make it easy to get started with Sienna — as it can be listed on multiple exchanges. And with the Bridge be converted to native $SIENNA where you’ll gain the real benefits of privacy, low cost and high speed — And with a tokenomics designed to make it very attractive to provide liquidity early and keep the token long — as there’s a burning mechanism to reduce supply in the long run — token holders should be rewarded for being with the project early on (now) and for a long time 😊

done

Bà Tân | : Question3. @nikolblanco2005

As I know Sienna Swap runs on Secret Network, which is the first blockchain with privacy-preserving smart-contracts. But how secure are these smart contracts? what are the benefits for users?

Sienna Network : That’s correct, Sienna is build on Secret Networks “programmable privacy” functionality — which offers a unique platform to build censorship-resistant applications that keep data encrypted, making use of TEEs (Trusted Execution Environments) to conceal data from the network. Nobody, including node operators, can access the raw information being decrypted and processed. It means that transactions with Sienna are private, which is one of the biggest weaknesses of Ethereum.

done

Bà Tân | : Question4. @EbrahimKholil42

I am impressed that you have wonderful partners today, partners of all kinds. Anyone just arrived? Which of your current partners provided project the most benefits, why? Another good aspect to think about is, what do you want your future partner to do?

Sienna Network : Sienna has attracted an A-list of investors, and the private round was completely oversubscribed so a good beginning. Then followed by a successful launch on DAOmaker and Polkastarter and listing on Uniswap and Gate.io. And with a really strong group of Advisors. But first of all — Sienna is a community of people with passion for blockchain and privacy — and have already spawned over 10 regional groups led by engaged local ambassadors.

done

Bà Tân | : Question5.@NguyenH43747892

Sienna promises fast transactions that will cost only a few cents. Users will definitely be excited not having to pay exorbitant fees. Can you tell us more about your infrastructure? How do you achieve high speeds and such low fees being cross chain platform?

Sienna Network : Sienna is build on Secret Network — which is build on the Cosmos Internet of Blockchains — and therefore GAS is much lower and speed of transactions much higher. With a large number of nodes in operation there’s capacity for growth. And with the IBC — Interblockchain communications protocol the ecosystem is huge.

done

Bà Tân | : End of session 2

Bà Tân | : We’ll move on to session 3

Bà Tân | : Sessions 3: The conversation will open to the community questions and the best questions will be selected.

Rules to follow AMA : ⤵️

▫️ Join : Telegram group Sienna Network (https://t.me/GoSiennaNetwork) , Sienna — Announcements (https://t.me/SiennaAnnouncements) and IM Community (https://t.me/imcommunityitw) , Channel Im community

(https://t.me/imcommunityit)▫️Follow: Twitter Sienna Network (https://twitter.com/sienna_network) and IM Community (https://twitter.com/IM_Communityitw)

Web & Community:

🌐https://sienna.network/

Bà Tân | : Those who haven’t joined @GoSiennaNetwork group will not be eligible for AMA rewards, make sure you did.

Bà Tân | : Great.

Bà Tân | : Thanks for the questions from the community.

Bà Tân | : @thisissienna Pick the 5 best questions and answer it for session 3.

Sienna Network : Wauw, thanks for all your interest — give me a minute to read thru and pick the best questions

Q1. 🍀I saw you recently made a partnership with paralink Network. why is Paralink’s oracles the best choice for Sienna instead of others like Api 3 and chainlink?

Sienna Network : Yes Great question — we’ve chosen Paralink as their vision for a multi chain oracle platform fits perfectly with Siennas needs as Sienna will be cross chain

Q2. ☀️☀️Do you have any plan on implementing a NFT on your project? Recently many NFT projects are flying, please explain us about your project concern on NFT?

Sienna Network : Yes, Sienna will add NFTs to it’s Platform. NFTs used for a diverse group of tokenizable assets is a huge opportunity and not nearly utilized yet — as Sienna will also launch lending, collateralization e.g. could be done via NFTs

Q3. Q. Community is essential for a new platform, how can you attract and keep the platform growing up to date? What is the message you want to convey to people about your platform?

Sienna Network : Great comment — and yes Community is the core together with building a great product that people love to use. For that reason we’re proud that Sienna community is already over 170t users globally and with the many local ambassadors running local language groups (and Sienna will be multi-language frontend) we thinks it’ll drive adoption. You can find the local groups here:

Arabic: https://t.me/SiennaArabic

Bangladesh: https://t.me/SiennaBangladesh

Chinese: https://t.me/SiennaChinese

Dutch: https://t.me/joinchat/GdJm65Ik2Qc0YzNk

French: https://t.me/SiennaFrench

Ghana: https://t.me/joinchat/qRRSG3EjsWoxMjE0

India: https://t.me/SiennaIndia

Indonesia: https://t.me/SiennaIndonesia

Japanese: https://t.me/SiennaJapanese

Nigeria: https://t.me/siennanigeria

Turkish: https://t.me/siennaturkey

Pakistan: https://t.me/SiennaPakistan

Russian: https://t.me/joinchat/H-K7xIDSBUVkNDY8

Vietnamese: https://t.me/SiennaVietnamese

Q4. Who are your targeted audience and customers? What regions do you target specifically or are there any restriction to users?

Sienna Network : Sure — so in first round Sienna has attracted attention from people already familiar with Crypto, but the next focus is on broader adoption with private users but also and very importantly from enterprises which can benefit from the features of programmable privacy for their transaction needs. Sienna is born globally — and is being build by distributed groups. As it’s permissionless it’s up to the users to decide if they can use Sienna

Q5. What are the ways that SIENNA NETWORK generates profits/revenue to maintain your project and what is its revenue model? How can it make benefit win-win to both invester and your project?

Sienna Network : First of all Sienna isn’t a commercial company, but a community of people with interest in Blockchain and belief that privacy is a basic human right — Having said that Sienna is granting a significant amount of tokens for users to grab as they use the Sienna platform — by providing liquidity, staking rewards etc

Q6. Does your project support staking program?, if yes, how is, your stake system work what is the requirement, for user, if they want to stake in your platform??,”

Sienna Network : See the Staking rewards here; https://sienna.network/swap/

Q7. Could you please provide some info about your Roadmap and how Market is progressing so far?

Sienna Network : Roadmap is here: https://sienna.network/roadmap/

Q8. Who are your targeted audience and customers? What regions do you target specifically or are there any restriction to users?

Sienna Network : Focus is global, and Sienna is permissionless, so it’s up to users to decide. But Sienna aims for compliance, and will develop support for decentralized IDs to make it possible

Q9. What are the great achievements that your project has achieved so far? What difficulties and risks did you encounter during project implementation and what factors helped motivate you to overcome difficulties?

Sienna Network : Sienna launched on May 3rd, so it’s still early days — but the great interest — over 170t members in the fora is proof that it’s solving a need many people realize is important — high speed low cost transactions with privacy

Sienna Network : Thanks for for the great questions

Bà Tân | : Thanks for the useful information from @thisissienna

Bà Tân | : End of session 3

Bà Tân | : For questions that have not been answered today, you can send them to @GoSiennaNetwork for answers.

Bà Tân | : Allright, I declare the Im Community AMA with Sienna Network has ended.

Thanks to @thisissienna | Sienna Network joined us and provided us with Sienna Network information, we hope that this knowledge makes us understand more about https://sienna.network/

To the members, thank you for following this event to the end. winners will be announced soon.

Bà Tân | : Today’s AMA winners please PM @quocnguyen1234 to provide reward information. Thanks everyone .