Special Bittrex Global Listing AMA with Aventus CEO Alan Vey
December 14, 2021
On Friday December 10th 2021, we invited the Aventus community to ask CEO Alan Vey anything.
Below you’ll find 19 questions from the community and Alan Vey’s answer for each.
1.Q From Jone: #AMA The market starts with a low volume, even the new marketing plan started from months ago, what’s the next plan to solve this issue which is: “Awesome L2 solution but no interesting and no one hear about this project”.
Alan Vey: We are all about fundamentals, we do not hype and pump anything. We have been doing much more on the marketing front and will continue to with some major partnerships with top 10 blockchain market cap ecosystems. Bittrex was to ensure we have liquidity in the market with market makers and it’s much easier to get involved. The rest will follow. Unlike many others we will never create false liquidity / volume / price action through trades with related parties.
2. Q From Jone: Any future plan to open “Donation for listing” as many project did?
Alan Vey: We still have sufficient treasury for the exchange listings and do not want to get the community to fit the bill however once we have executed our plan if more is needed we will host a Donation for listing program potentially, we plan to have at least one more listing next quarter and the following one.
3. Q From 2 MK: Hello, people have waited a very long time for this staking season 2 (more than half a year), and I wonder when the withdrawal is possible and if there is a reward. #ama
Alan Vey: When we started the staking program we made clear in the T&Cs that there was a lock in. This will be released in Q1 2022 and we will move the program to the AvN itself so that everyone can withdraw staking fees with low transaction costs. From then staking will be liquid. Contribute to stake when you want, withdraw when desired.
4. Q From Pazuro: Can you tell us more about what’s happening with Artos Systems? Has it rebranded to Coral or is Coral a spin off company with different responsibilities? #AMA
Alan Vey: Yes it has been rebranded to coral. They are all about matching buyers and sellers in the ethical F&B sector and using DeFi tools that are coming to help with the trade financing.
5. Q From Zone: #AMA What’s the current plan to fill the remaining staking quota required for 100%? When will the public program be closed & how and when will the team fill the remainder?
Alan Vey: We will leave it open to the market. In Q1 2022 if it is not completely full the Aventus Foundation will fill from treasury and we will move to AvN staking as described above.
6. Q from Zone: #AMA How can we view transactions on AVT layer being reflected on the ETH layer?
Alan Vey: I do not have the specific Ethereum smart contract addresses to hand but the team will put them in here later today so you can watch them yourself.
7. Q from Zone: #AMA Any news about Polkadot progress ?
Alan Vey: This is a little vague. We intend to become a fully fledged member of the polkadot ecosystem. We have various items we are working towards with them and there will be various news stories about this in the coming months.
The challenge is taking an already live substrate based chain and making it compatible. There are issues in backwards compatibility from Substrate v2 to v3 and becoming a parachain once already launched is no easy task but we are on it.
8. Q from Wang Lei: I would like to ask our CEO how to let more people know about our AVT and how to get the attention of top trading income. Now the market value of AVT is seriously undervalued. Thank you very much for L2 and NFT
Alan Vey: Please spread the word in the right communities. The more people do their research on Aventus the better. Once people look properly into what we have they almost always get properly involved.
Thanks for the support!
9. Q From Mojo: Hi Alan, I would like to congratulate you & the team for all of your continued work and efforts on the Aventus project & ecosystem; as well as the recent Bittrex listing, which was a nice way to round off the year.
My questions for the AMA are as follows:
Question 1: Many crypto influencers repeatedly talk about the upcoming Layer2/ZK mega trend narrative (for instance, Elio Trades & Coinbureau). Unfortunately as of yet, Aventus isn’t mentioned by any of them as a contender / project to keep an eye on. Why do you think that is? and how do you intend / propose to rectify this?
10. Question 2: What’s your timeframe to add yourselves / submit a listing to L2Beats ?
11. Question 3: Are there any joint ventures / collaborations planned with Coinshares in the coming months ? If not, how do you think their infrastructure / network could be leveraged to bring more users/liquidity to Aventus? Thank you. #AMA
Alan: Thanks Mojo.
1) Deals have already been done to rectify this. We are doing strategic deals and deploying AVT treasury to get the right influencers involved and happy. Much more to come on this front, sorry I have to be vague right now.
2) This is with our marketing team at the moment, I‘ll ask them to come back with timelines here once they can.
3) Yes, keep a close eye on thepiplimited.com I cannot say any more right now other than I designed the tokenomics. We have a tight relationship with CS, JM (CEO) sits on the aventus foundation board, so we work together all the time to improve things and drive more interest. We literally chatted not an hour ago.
12. Q from Blake: #AMA Will all NFTs created through VereNFT be secured by Ethereum? I.e does Aventus take a snapshot every so often for all transactions and post the merkle root to Ethereum like a true L2 or is Aventus a hybrid where some transaction are secured by Aventus network alone as a form of sidechain?
Alan Vey: No, some will be on Ethereum but some of the deals we have done have preferred other base chains so we will be extending our support to other top 10 market cap ecosystems.
But to your technical questions, yes we post proofs to a base chain and inherit our security from there.
13. Q from Blake: #AMA The VereNFT platform enables NFT creators to get their very own smart contract for their NFT, allowing them to get royalties on future sales. If someone was to buy an NFT off VereNFT, lower it to the Ethereum network and then sell it on Opensea, would the NFT creator on VereNFT still receive the royalties from that sale made on Opensea?
Alan Vey: We have not had anyone want to go to OpenSea yet. At this point in time that functionality does not exist but that is the longer term objective. however OpenSea is having a lot of troubles with copywrite at the moment and it is expected they will add functionality to play nicer with NFTs with KYC / AML enables.
14. Q from Blake: #AMA The next question is a question + idea if not already possible with VereNFT: Would VereNFT consider (if not already possible) to allow the ability for NFT creators to lock tokens such as ETH, BTC, AVT or even their own brand tokens to their created NFT?
It should give their NFT a true floor price where an owner of an NFT can burn the NFT to redeem the underlying tokens if they quickly need to get liquidity, instead of constant battles of undercutting the floor price to sell their NFT.
For brands in general, locking tokens to NFTs should mean a higher more sustainable floor price as people generally don’t want to sell the NFT for less than the value of the underlying tokens.
I saw one project do this in practice on Opensea (with DeFI based NFTs) and it seems to work.
I can see locking of tokens to NFTs creating a new token sale structure for NFT gaming projects where genesis tokens the project holds, can be locked to rare NFTs for their game and sold for stable coins for example, without putting initial sale pressure on the game currency as the buyer would likely be invested in the game and not want to burn the NFT to get the underlying tokens. If the tokens were locked to more a common in game NFT, the users could burn several of these to redeem their tokens which they can buy a rare in game NFT which cost more tokens for example than the multiple common NFTs they were locked to.
Alan Vey: Yes we love the DeFi options around NFTs. Debt financing, staking and others are being explored but this functionality does not exist today but is on the roadmap.
15. Q From Blake: #AMA When the public can interact with the Aventus network, will people’s public address on the Aventus network be the same that is used on Ethereum network like other scaling solutions do or will we use a different address provided by Aventus network?
What would be the reason for not allowing the same public address to be used on Aventus as Ethereum? Is it due to interoperability of chains other than Ethereum?
Alan Vey: It will be subkey addresses (Polkadot.js). We are exploring adding Ethereum address as well since the wallet infrastructure is supported more.
No reason not to it just takes time to develop, so its about relative prioritisation of features
16. Q From Ryan: #AMA I invested in the Aventus ICO because I saw excellent potential for disruption in the failed ticketing industry. What will Aventus be doing in 2022 to lobby for adoption in ticketing, with the great opportunity that COVID 19 has presented?
Alan Vey: We are bringing a new offering now that COVID is loosening its grasp on the industry. Sports ticketing is the next big play for that technology. We expect to announce in Q1 2022
17. Q From Sam Bell: #AMA thanks for Bittrex listing. I would like to know if we are likely to see another listing before the end of 2021
Alan Vey: No we will not.
18. Q From Coin Navigator on Twitter: “When binance?”
Alan Vey: Ask Binance, the more enquiries they get, the more they will look at us. I feel confident by the end of next year but not firm timeline yet
19. Q From YodaPirate: On the branding side of things, are there any plans to update the website and marketing material? ..in all honesty it’s a bit “wordpress” atm
Alan Vey: We are constantly refining, with the launch of AvN staking we expect to do a refresh. But agreed it needs an upgrade, it has served its purpose over the last half year.
Again, to register for the Validator Program visit https://www.aventus.io/ecosystem/.