Trusted Node AMA Summary Recap with Shin Chan Community
We held a live AMA with CEO, Stefan Rust from Trusted Node on 11th October 09:00 PM (UTC+8). Here’s the recap for those who missed it
JH | ShinChan: its our pleasure to have you and your team with our community tonight❤️❤️
Stefan Rust: i’m here with my team and have been in technology my whole career until lastly being the CEO of bitcoin.com
I’ve been building developer communities around the world for globally leading technology companies pretty much all my career, both as entrepreneur as well as for Java at Sun Microsystems.
yup I bought my first bitcoin on ebay using paypal wiht a bitcoinJ wallet on my hp laptop when it was 5$
At Trusted Node we are an amazing team with an aggregate 30+ years of experience in crypto and then in technology as well. The team have been leading product management, development and marketing with leading companies including bitcoin.com, crypto.com, Nest, Horizen, AAX, Amadeus.
JH | ShinChan: this is really awesome if you still keeping it. btw before we start our q&a section, can you introduce us about Trusted node in short
Stefan Rust: Simply said, Trusted Node allows users to become node validators by staking their assets on our platform, keeping control over their funds at all times.
Participating in our governance, you can also boost these yields with the $TNODE you hold
JH | ShinChan: Is there anything else you can share us the update/news from Trusted Node?
Stefan Rust: we launch on the 15th
so this Friday
we have some great partnership and new blockchains we will be supporting
AMA Twitter Section Begins:
Q1 : Node validators are a major component of your platform.
So can you tell us about the rewards for the validators in the
How can a user increase his gains from the platfotm to the maximum?
Stefan Rust: We are focusing our efforts around the Cosmos and Polkadot ecosystems. In addition we will support other major blockchains.
Cosmos (DVPN, IRIS, REGEN, CRO
Polkadot (Nodle, KSM, HydraDX, Moonriver)
We are also looking to add Cardano, Avalanche, Polygon, Terra, Solana and maybe others.
Lastly also we want the community to tell us which ones we should focus on next.
Users can increase their gains 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.
Q2: I have read that holders of $TNODE will qualify for the decentralized autonomous organization of the Trusted Node. What rights do users have when participating in a DAO?
Stefan Rust: 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.
Q3: I’ve found out that $TNODE holders can boost their PoS rewards simply by locking up $TNODE in the vault. How much boost can be added to the staking rewards? Will there be a minimum requirement of $TNODE token to be locked in order to boost the rewards?
Stefan Rust: We can’t promise a specific number just yet, however everyone can participate
We will also have promotional vault with high APY throughout selected periods
we don’t have a minimum requirement
Q4: What blockchains are your team planning to connect to in the near future to unlock more features and provide customers with access to key DeFi protocols and innovative applications in the blockchain space?
Stefan Rust: here is a list of the blockchains we’re focusing on
we are looking to add liquid staking to your delegated funds to this blockchains and 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
Q5: Work confidently on governance portal. The community will be able to submit and vote on proposals not only for TNODE but also for the entire PoS network for which we are running validators. Cross-chain governance? What kinds of decisions can you participate community?Requirement?
Stefan Rust: To TNODE DAO you will be able to submit proposals, you will be able to vote on Blockchains integrate and we are contemplating other governance matters
Regarding the cross chain governance we are looking to pass through the underying governance to our community. Where possible and relevant we can all allow for the TNODE community to submit proposals to the blockchain and give it the full Trusted Node proxy
Telegram Live AMA Begins:
Q6: What kind of marketing strategy do you have? Besides from prospective developers, how can revenue incorporate the global environment? And what is the most significant distinction between strongblock and this program?
How can those who choose to lease NFTs for a long time at Trust Node be able to rest certain that their rental conditions are secure? Will an asset be required for this, and if so, how would it be evaluated?
Stefan Rust: we are working on some interesting partnerships to support Total value delegated and establishing new relationships providing yield for the decentralized generation
First you will be able to delegate to more than just Ethereum. In fact you will be able to delegate to more than 15 different blockchains. At the same time each of these tokens can be used for liquid staking giveing you a derivative token which in turn you can use for stacking your yield by staking in farms and vaults. Lastly if you are a $TNODE holder you will get additional yield beyond just delegation reward. We call this yield boosting
Q7: What are the benefits of holding and betting $TNODE within Trusted Node, and how do you encourage investors to hold on to their tokens?
Stefan Rust: we are offering TNODE holders the ability to stake their tokens in the DAO vault from where they will earn yield Boosting and be able to participate in the DAO
additionally the liquidstaking feature you will pay in TNODE for the transactions
Q8: Is Users can vote to launch new validator nodes for networks they believe will be beneficial to the platform , If Yes ,Can you please tell Me How Can I become eligible for the Voting ?
JST: By staking your TNODE tokens into our primary vault, you will gain governance power and votes depending on the amount of TNODE you own. Not only this but you will also receive various rewards depending on the tokens you delegate and if you decide to lock your TNODE tokens or not
Q9: Hello, sir
What kind of benefits are given if we hold your token? And if we hold a lot of your tokens will we get a lot of profit?
Sunny: Yes you can stake their tokens in our vaults which generate a yield. Additionally some vaults will also provide yield boosting opportunities, providing additional rewards to the delegation rewards.
Q10: What plans are in place to ensure that the smart contract code is being reviewed before launch? And what steps will you be taking after the launch?
JST: Safety is our main concern! Every smart contract we publish is / will be audited. Most of them are currently being audited by Obelisk
Q11: Can you send me white paper
Stefan Rust: Hey Craig our whitepaper will be online this week so please sign up to our Twitter and telegram and get updated.
It’s a very detailed and amazing whitepaper to reflect our product
with our tokenomics in there as well
Q12: Is Users can vote to launch new validator nodes for networks they believe will be beneficial to the platform , If Yes ,Can you please tell Me How Can I become eligible for the Voting ?
Sunny: You can become a DAO member and get voting power on our platform by staking $TNODE 🚀
Q13: Is your project a local project or a global project? Can anyone use your services from anywhere in the world?
JST: We are a global project. Our team members are from all around the globe, working 24/7 to deliver a safe and innovative delegating platform.
It doesn’t matter where you are, if you hold tokens from our partners, you will be able to delegate them through Trusted Node
Q14: Locking of assets into the protocol for lengthy periods has always been a major problem about providing liquidity. What are the solutions that the Trust Node team will be rolling out to solve this?
Sunny: The user will commit their delegated funds into a “locked” wallet in return for a wrapped token which will represent the equal amount of delegated funds. These wrapped tokens can then be used to stack yield by locking them into yield generating vaults or they can be used for trading and maybe in the future, used as a collateral against a loan
Q15: Is your project really trustable,,based on the name of your project..Trusted Node..So what can you say
Sunny: YES 😎 just look at the team behind the project and we are audited by Obelisk.. 😎
Q16: “Each holder of $TNODE can present proposals and vote on aspects of the operations of the network”, but could you really give us more details about the proposals that we will be able to present in these votes? And also how many tokens $ TNODE will be required to be the holder?
Stefan Rust: we will be forwarding the underlying blockchain proposals to our users. We can’t really influence that other than suggest proposals that our users would like to put forward to the underlying blockchain project
Q17: Can you tell us what stage of development Trusted Node is currently in? What will be the first products to be released? When will we be able to use the platform?
Stefan Rust: at the same time for Trusted Node DAO we will be developing the governance issues over time and expanding the voting and participation as we evolve and mature as well
Q18: You mention that “storing cryptocurrencies in exchanges” is a big problem, but could you really explain to us what would be the problems? Is it because of the insecurity that they count for being centralized? only to what could be obtained more profit if they are stored in DeFi?
Stefan Rust: there is not really a problem, however I feel that the exchanges do validation for each of the networks and leverage in a PoS blockchain the rewards by locking up their customer funds in the validator nodes with out passing on the rewards for securing the blockchains to their users. The same applies to airdrops, where the airdrops are then retained by the exchanges and not passed on to their users.
Q19: Do you have a plans to hold an IDO or Public Sale so we can participate earlier in the development of your project? If yes, please share with us the details?
JST: We will indeed have a public sale on a reputable launchpad in November. The exact date and the name of the launchpad will be shared in our telegram @trustednode_io so be sure not to miss it
Q20: On your website it says that users holding $TNODE tokens can increase their validation rewards. So how will you incentivize $TNODE shareholders and be able to support the future of the project by participating in governance?
Stefan Rust: the user provides validation on the proof of stake networks so they are rewarded for that validation. This is how we scale delegations and our trusted nodes and we give incentive to the users doing so.
We do earn at tx fee for liquid staking and for staking in the pools and vaults. we will also be taking a minimal commission of the rewards for hosting the services and providing a great UX and dashboard for keeping track of your assets across all the chains
Q21: Can you tell us what stage of development Trusted Node is currently in? What will be the first products to be released? When will we be able to use the platform?
JST: We are currently finalizing the delegating platform which will be live on Friday.
The TNODE token will be publicly available in November and we will then open several staking vaults and liquidity pools.
We have a huge roadmap and the community is at its center.
By holding tokens, you will be able to decide where the project is going.
Q22: How old is your project? And what motivates you to make this project? Are you planning for pre-sale or IDO?
Stefan Rust: we’re 6 months into this project. I’m super pumped by this and got into this for a number of reasons
-Exchanges and custodians are gaining from the PoS rewards which should be passed on to their owners of those coins
- Coins in a wallet don’t generate yield whereas the networks are offering yields
- It’s still very difficult to earn yield through PoS networks
Q23: How important is the community to Your project? and How can we collaborate or help share token for the development of the project?
Stefan Rust: the community is super important
the reason we are doing this is for exactly that reason
We’re building a product for the community and we’re looking for the community to tell us how to develop the product over time
As I said earlier on we really 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
I truly believe the DAO aligns the interest
Q24: Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project?
JST: Yes we definitely want to expand our brand everywhere, in English and non English regions.
We will open regional telegram groups soon and we will translate our deck into several languages.
Q25: Staking, Farming and NFT are 3 strategic areas of interest to investors. Does TRUSTED NODE offer these 3 options the most ? Or is TRUSTED NODE still planning that?
Stefan Rust: a taste of what the app will look like
thank you all very much for your detailed questions