Live Family AMA Session Done!
23rd December 2021
A very constructive community AMA session was hosted on our TG channel on 23rd December and all of the questions were answered by the team members. It was a great opportunity to engage with our community, to clear the fog on investors’ minds and to give a solid idea of the vision of the team & what the future holds.
Questions & Answers
Q: Will the treasury be protected by a timelock and or a multisig in the future?
A: DREX (lead dev/CTO): Yes, we will multisig our treasury very soon, that was also Certik’s advice.
Q: Are you 100% devoted to this project? What is your professional experience or what do you do for the living?
A: Arwand Madison (CMO): All of the Devs are 100% devoted to the project. We don’t have any other day jobs or even social relations :)
Q: How long do all of you Devs have for time in the crypto space?
A: DREX (lead dev/CTO): I am in crypto space for 10 years or so. Actively engaged with high risk — high reward dapps during last 3 years. Other devs are new to crypto. Arwand started 1 year ago, Vasmussen started 6 months ago but both are very professional and successful people in their field.
Q: What we can expect from nemesis in year 2022 what are its plans?
A: Arwand Madison (CMO): Hello Syed, thanks for the question. As you may know, we are preparing Roadmap 2022 this weekend and will release around mid next week. First of all, the main trigger on success is creating maximum exposure in every platform possible in order to continue the growth, but only exposure solely is not enough. It should be maintained together with continues development, adding new features, improving in written content base such as blogs, press releases, interview with team articles, healthy communication and keeping up members updated with latest news by medium and weekly email newsletters etc. All these should be working smoothly. What else is needed? We need unique brand identity in graphical content base, unique colours, unique fonts, unique logo and marketing materials needs to be updated and we already hired our very experienced brand identity/designer last week, and actually will have meeting with her on next Monday and we will evaluate 3 theme options etc. So big branding revamp is coming soon too. Certik audit is coming as well so day by day, with developments on above stated points placed and working well, we will start touching on audiences we haven’t focused first in terms of marketing. Asian expansion, press releases, AMA events on solid platforms, Reddit, new partnerships that will create demand to both tokens, new dex/cex expansions and many more. All these should be done in order and will be max effective when proceeded on right time. So yes, these above areas will be focused and once all are ready, then bigger moves will be started 😊
Q: Is there a plan how long will 5-day ROI above 20%? Will Nemesis Dao do huge APY boost like other DAOs?
A: DREX (lead dev/CTO): Okay our plan regarding the APY.. As you know, one of our main missions is providing the highest yield in Binance Smart Chain. We will try to maintain these missions to the end and we will try to provide more yield when compared to our competitors. Right now, we have stabilized the APY around 5 day 20% and the price found a solid floor around 500 USD. In short/mid-term our target will be “5 days — 15%”.
However, we have surprise for you guys. While decreasing the APY to 15% bit by bit we will increase bond rewards to boost the treasury. That’s not the surprise though. From now on, there will be “Golden Epochs” on Nemesis DAO. These “Golden Epochs” will massively boost the APY for 1 epoch. We are talking about 200% — 300% boosted rates. This will add another thrill element to our Nemesis experience (like we don’t have enough 😃). And we believe it will also increase the overall user interaction on platform.
Q: How do you plan on attracting new investors?
A: Arwand Madison (CMO): What I see on last two weeks is that when marketing exposure is done while there is negative mood on our main global chats, the conversion rate on new comer becomes very low. So, we made an urgent meeting and wanted to accelerate the progress in order to end this downtrend. As you might read recent announcements made, there are new features, communication platform variations/improvements, team hiring, branding, all these will help the project to reach its targets in faster time. Regarding your question, let me share how I thought on what new comers should be attracted about on Nemesis. First of all, currently its best time to get in as current price level is very close to backing price, so we are ready to take off. Secondly, they should know that Nemesis will be here for years, currently at rising phase until end of January. What else? Huge contract features and updates are on the way, daily buyback and burn event is started 3 days ago, will continue until 31 December, Certik audit and 7/24 contract protection is coming very soon. All these are hype creating news, some started, some incoming very soon. What else? We already made private KYC done to CryptoDaily via blockpass.org, BSCScan is on the way as well. So private doxxing with well-known platforms will be increased. Currently Nemesis has highest APY when comparing with mCAP of other ohmforks in BSC, will always maintain sustainable and competitive like today and still strongest liq/mCAP rate of 25% even chart is at bottom atm. In terms of marketing, 100+ new Youtube deals will be made until end of January, at least 40–50 deals will be made with new solid profiles for outreach to new audiences. Yes, these are things I would find Nemesis attractive and we will focus on these strengths on our marketing deals on this rising phase campaign. 😊
DREX (lead dev/CTO): I want to add something here. Our main mission is to become a true reserve currency on BSC. We never started this project like most of other hit-run projects. We are becoming and we will become a true reserve currency on BSC.
Q: Many protocols have come out scamming people and I think that now people are realizing that the defi 2.0 are to be worked on in the long term and not make the mistake of passing money from one place to another every 3 days. Today we are looking for a project to trust in the long term (1 year minimum) and it would be great to know if Nemesis Dao is the right place to work our money in the long term. Can we really trust? People will get bored of the Rug Pulls from other protocols and will look for a more solid place and I want to believe that Nemesis dao is the right place.
A: DREX (lead dev/CTO): Good angel investors have single golden rule. They invest to the team not to the projects. All of our team members have same mind-set. That’s how we created the team in the first place. We are not here for money, we are here for the ride. The moment we woke up every day, we start remembering the responsibility on our shoulders. *Responsibility we have to our investors. So trust may not be maintained with such words here but i believe we will build that in time. We already did with many of our first holders. We felt their sincere support even on the darkest times 😉
Q: Will you develop a forum, so that the team members can actively contribute the longevity of the project?
A: Arwand Madison (CMO): Yes, bitcointalk, altcointalk and reddit forums are what I believe would be most effective. But in order to be effective, team should have available time for these platforms. With this in mind, 2 weeks ago, we hired 4 marketing assistants and last week we hired new marketing specialist above them as organizational shape/structure. My aim here is to spend more time on both TG and Discord chat and also I can be active on forum thread as well when they all be ready and working without my confirmations. I believe in 15–20days, they will be ready to proceed all marketing steps by themselves so I will have more time to spend with our members 😊 Drex doing the same, once his side is ready, he will be more active with community too, yes with this way, both TG, Discord and forum threads will be much more effective. 😊💪
Q: Are there any particular features of other projects you’re inspired by?
A: Vasmussen (COO): Four people from our team are constantly keeping track of other DAO projects. They give us daily reports of their new features, successful or fail implementations. We try to analyze every feature in depth before bringing in dev discussion. We don’t want to implement any feature before being sure its beneficial for our project.
Q: Could we have option on the site to make combos? Like, I want to choose to spend more than 6 months in Stake (6.6) or enter first with a 3 or 5 day Bond and go straight to Stake (6.6), what do you think of this idea?
A: DREX (lead dev/CTO): Yes. Presentation of wrapped sNMS was the first step of integrating 6,6 in the future. Either with bonds or with layered farming. We are just taking small steps at a time and that’s the correct way of developing a platform. The most important element for the growth in terms of presenting new products or projects is filling the floor with a competent team. That’s what we are doing at the moment. There are 3 separate dev team at the moment working on different products. This started to happen in last 3 days. Our team in general has 18 members as of today. We are planning to reach 50 team members in couple months. Working, maintaining our product-lines, and evaluating competitors on chain as Vasmussen explained.
Q: Where do you see nemesis in 6 months?
A: Arwand Madison (CMO): This is my first crypto project, I am sales person in real life with 10 years experience, both national and global. From my side personally, Nemesis has become as my child, every day I woke and go to sleep with Nemesis, trying to share equal time for family and work but for past 40 days since from launch, I spent maybe 14–15hours a day just for Nemesis and I am happy about this as well but my family isn’t lol. What I am trying to say is that we are planning to develop the project for years to come. How I see us in 6 months time? Well, I am very excited first of all as all initial necessary steps for mass expansion will already be implemented in 1 month hopefully and from there, I see new partnerships are formed, new bond products, gamified features that will create more rewarding variations for members, new dex/cex listings, asian expansion (project profile pages will be actively managed by team hired agents, both Japan, India and China) and much more. In the end, the main vision is to create a trusted platform that will last for years, so that every member will know they can park & grow their investments on Nemesis anytime, anywhere. When this is achieved, I will be very satisfied and strongly believing that Nemesis will be reaching its true potential when this is achieved in real.
Q: Do you have AUDIT certificate or are you working to AUDIT your project, so that the security of the project becomes more secure and reliable?
A: DREX (lead dev/CTO): We are being audited by Certik
Q: BSC has a reputation of having loads of paper hand investors. Does the team think this is a real problem? And do you think this could have an impact on the project in any way, in their goal of being the main reserve currency on BSC? If yes then how do you plan to mitigate it?
A: DREX (lead dev/CTO): Yes. It’s not because they are paper hands it’s because we are more high risk oriented users compared to Ethereum. I came from Tron network, most of the BSC users came from Tron Network. Bouncing back and forth between projects is in low-fee networks nature. To mitigate it we need to enhance user experience. By combining gamification features with development and new products, Nemesis will be reserve-protocol for every user even if that user do not have any staked value on the Nemesis. All should know that something new and fun, will be released under this platform. And you shouldn’t miss it when it comes
Q: Are there any macro economic factors that the team thinks may impact crypto / DeFi space and could potentially impact the project negatively? If yes, how do you guys plan to mitigate them?
A: DREX (lead dev/CTO): I see every changing factor as a new opportunity for forging new ideas. As long as we adapt swiftly to those changing dynamics. We will get our share from that pie. Can something potentially impact project negatively? Yes of course. So we will just add another puzzle piece to the complete picture that will bring new opportunities.
Q: Are u focusing now purely on long term view after twitter poll? Have u acknowledged how much a fatal short-midterm path can affect long-term success? Like half of holders down 70% and a 95% drop (less if accounting APY rewards) is an usual and healthy event in the team eyes. Also what was the purpose of the discord channel #pre ama questions when ama is ignoring all the questions in there and just picking live ones here in tg?
A: Arwand Madison (CMO): Hello Vic, this is our first AMA session, tbh my first AMA session and we are also not very experienced on AMA sessions. Once I saw your question, I realized and wanted to pick this question. Regarding the discord channel #pre ama questions, I am giving my promise here to answer most asked/important questions on our new Medium page after roadmap 2022 work is completed. For this first one, it’s happened due to very busy schedule for past days and due to being inexperienced in this event in general. We will do many AMA events in next weeks as well, maybe AMA every 2 weeks so next one will definitely been done on Discord and every AMA to AMA, these issues will be solved I can assure you that 😊 About your other questions, long-term? Yes, I answered how I see us in yearly plan and also stated current attractive strengths Nemesis has to succeed on growing. Regarding holder size, we are around 10600+ members atm, there is no any decrease on holder size so this shows the exposure and trust is maintained well after 2 challenging weeks. APY wise, we are providing still highest APY when compared to mCAP of other ohmforks on BSC and strongest liq/mCAP rate of 25% on BSC as well atm. Hope I answered your question. ✌️
Q: Minimizing whale impacts, Warm-up period, Lock period etc. ?
A: DREX (lead dev/CTO): While deploying the NMS contract we did not set a tax fee therefore there are only 2 solutions for preventing such whale movements. First one is warm-up period. The warm-up function on most of the DAO contracts do not work like it’s intended at the moment. That’s why you don’t see warm-up periods on other platforms too. So before setting a warm-up period on main net. I have to deploy all of the contracts again on testnet and try there first. This will be done on upcoming 10 days. I will test it. Then we will discuss it with the team and then we will set a DAO proposal for it. If we think it will be all good to go and if the community gives green light, we will add warm-up period. 2nd solution is somewhat indirect solution. That is launching our own swap, moving the liq to our swap, and set a tax on sell transactions. Not saying because we are going to do that but just letting you know of the solution. It can be doable but of course people may still add liq to pancake. That we can not control. So i will test warm-up contract on testnet to start with. It seems like the most convenient option atm.
Q: What sort of benefits whitelisted members will have?
A: DREX (lead dev/CTO): First set of whitelist members collected during airdrop contest. The main benefit will be of course being the earliest bird on any product. This whitelist spots will make you much much more money than your claimed airdrops during the event. You can count on me on this 😉
Q: What are your plans to bring $NMS to a bigger group of Investors? (Is any Infrastructure Built for that Action?)
A: Arwand Madison (CMO): Hello Quirin, Yes, apart from new DEX/CEX listings, new partner token mutual integrations (partnerships), asian expansion, all these are bigger audiences, exposure on bigger group of investors that will create big jumps on mCAP growth when done at right time, when initial infrastructures are on place (with steps I stated on my above answered questions). In addition to this would be capital ventures, and firms that bridge crypto projects with capital venture firms/groups. These firms evaluate your project, team, achievements, and future potential and once you are favored by evaluating team, they bridge these projects with their group of investors, I mean whales that will take the project to a new level. Once Nemesis is ready and completed all initial infrastructures, partnerships, security, dex/cex listings, branding etc. my plan is to initiate these groups to partner with in order to make the higher jumps on growth. Not in next 2–3 months, but I believe after the start of 2nd quarter of 2022, I believe we will be ready to initiate them. 😊
- Whitepaper: https://nemesisdao.gitbook.io/whitepaper
- Website: https://nemesisdao.finance
- Discord: https://discord.gg/b8CUaukZn6
- Telegram: https://t.me/NemesisDao
- Twitter: https://twitter.com/Nemesis_DAO
