04 Sep 202008:08
BTC Proxy AMA Recap
Myko (CryptoDiffer)Hello, everyone!😁
We are glad to meet here:
Flavian Manea, CEO
Alexandru Minulescu, CTO
Flavian ManeaHello Guys,
It's a pleasure to be here
Alexandru MinulescuHello guys, thank you for having us
Myko (CryptoDiffer)Welcome Flavian and Alexandru, thank you for taking your time today!
Our team has prepared 3 questions for you to start with
Are your ready to start?
Flavian ManeaWe are ready
Let`s start with the introduction !
Q1: Can you introduce yourself to our community?
Flavian ManeaHey Guys,
I am Flavian Manea, co-founder and CEO.
I have more than 3 years experience in blockchain and, before founding BwareLabs,I was head of Blockchain at Ankr.
Before working in the crypto industry, I worked as a software engineer in several companies like 888Poker, Intel and Harman, and was involved personally in crypto, as a trader.
Alexandru MinulescuI`m Alexandru Minulescu, co-founder and CTO at Bware Labs. I have more than 2 years of experience at Ankr as Product Development Specialist. Before that, I worked as a senior embedded software engineer at LUXOFT and Enea for 8 years.
Myko (CryptoDiffer)Thank you for your answers!
Let's now move on to the project
Q2: Can you introduce Bware to us?
Alexandru MinulescuBwareLabs` main product is an API Service platform that brings together API consumers and node providers.
End-users, who can choose from a varied multi-tier subscription offering, will benefit from verified and high-performing node access. In turn, good behaving node providers will receive rewards from the subscriptions of the end-users.
We also have as a secondary revenue stream, the deployment and hosting of validators for the hottest blockchains (https://bwarelabs.com/validators/).
Flavian ManeaYou guys are welcome to delegate to us :)
Myko (CryptoDiffer)Great chance!
Let's enhance the topic with our last question of the introductory part!
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?
Flavian ManeaWe have concluded the Bware Labs Incorporation and Private Sale.
We also finalized our MVP for the Decentralized API Marketplace and we are close to releasing it.
We finished our EVM compatible bridge, which means that we can deploy our contract on any EVM compatible chain and move the tokens across multiple blockchains. Our smart contracts were audited and the report will be ready to be published soon.
We are currently working on the Public Sale. On the tech side, we are focusing on our Decentralized Infrastructure Payment Module and also on a pre-staking functionality that will be available at our launch date.
Alexandru MinulescuWe`ve also managed to put together strong partnerships with Elrond, Polygon (Matic) and more coming soon.
Cryptodiffer CommunityHow does Bware intend to enforce the good behavior of third-party node providers on it platform?
What mechanism have you put in place to help provide a high level of reliability and security to Bware users?
Alexandru MinulescuIn order to become a provider on the Bware platform, node owners will be required to stake BWR tokens. We are working on a state of the art integrity protocol which checks node performance against multiple sources. Providers are susceptible to slashing in case they underperform.
Cryptodiffer CommunityI saw it somewhere that user of Bware Platform will be able to obtain an endpoint which will allow them to interact with any of your supported networks. This is amazing, can you tell us how simple and easy it is to obtain an endpoint using your platform? Could you walk us through the process and procedures if possible with examples of requests that can be made for each of the currently supported networks?
It's fairly easy to obtain an endpoint, we also have a nice motto for it "Three clicks, and that's it!".
In a nutshell,You launch the app, you will connect with Metamask to our application and then select an API that you want to deploy and in a few seconds it's available for queries.
Later around the roadmap we will also introduce some subscriptions plans, but we will always have free tier to help developers get started with their dApp development.
Cryptodiffer CommunityWhat are the plans for listing $BWARE tokens and what DEX and CEX are you managing to incorporate them into?
Alexandru MinulescuAt this point we can confirm that BWR token will be available for trading on pancakeswap and uniswap. We also have ongoing discussions with CEXs, but that will be announced at a later date.
Cryptodiffer Community1. As a user who is ready to use the BWare platform, can you please list the subscription plans I can subscribe to and the benefits of each of the subscription plans?
2. What incentives are in place for Node providers willing to build great nodes on the BWare platform?
Flavian Manea1. The subscription plans are not defined yet, but we can say clearly that we will have a free plan for trying the product and getting started fast. A benefit of the subscription plans is that you can always scale your dApp whenever your development needs more queries / API calls, or the user base has increased on your platform.
2. We have allocated a part of our tokens for Provider Node incentives - the economics of the incentives has not been yet defined, but it will work as a staking mechanism + rewards from the subscriptions. You can think of us as the Uber of Infrastructure, where the rewards goes to Node Providers.
Cryptodiffer CommunityWhat's is BWARE LABS best known for
What is your competitive advantage over other established competitors and is this project safe for investment, any AUDIT plan. ?
Alexandru MinulescuOur main competitors are represented by established API providers such as Infura or Alchemy and also by a couple of new projects getting launched like Pocket Network or Pinknode.
Bware Labs’ main advantage is that it combines some of the best features of all of the projects mentioned above into a single platform. We are trying to offer the same or better reliability and response time as Infura or Alchemy, but in a decentralized manner, we have the widest range of supported networks.
Our SCs were already audited. We`ll publish the results of the audit shortly .
Cryptodiffer Community💥💥💥 Looking for information about your token on your website, I did not find the main parts involved in tokenomics. Can you share this with us and what are the specific use cases your token has in each of these parts?
Flavian ManeaOur Tokenomics Information will be released soon, right now we can share that our market cap at TGE is bellow 1M$.
Cryptodiffer Community✅ Is the Bware Labs platform live yet? How many customers or users does Bware Labs have already registered at this time?
Alexandru MinulescuWe`ll be releasing our MVP soon, which will be free to use at the beginning. The full functionality and subscription plans will be available in Q3 this year.
Cryptodiffer CommunityHow to become a Bwarelabs Validator? What is the role of a validator on the Bwarelabs ? What are the long-term benefits of validators?
Flavian ManeaWe have a secondary stream of revenue from our Validator expertise. Bware Labs usually host the validators and other members are free to delegate to them, and the rewards that these Validators generate are used to enhance the token liquidity.
A list of the available validators are here: https://bwarelabs.com/validators/ . We are always open for suggestions on what validators we could support.
Cryptodiffer CommunityA few days ago Elrond and Bware Labs announced the establishment of a partnership between the two projects. Exactly what is the purpose of this partnership? How will this collaboration boost your development as a project and also benefit Elrond?
Alexandru MinulescuAs any partnership, it’s meant to be beneficial for both parties 😊 On our side, we will include Elrond network on our decentralized API platform, which will benefit the Elrond ecosystem by increasing ease-of-access for developers and other interested parties. Of course, we benefit from the name association in increasing awareness of Bware Labs and building trust in our brand.
Cryptodiffer CommunityWhat are the utilities of Bware token? What right and benefits does it offers holders on the platform?
Flavian ManeaThe node providers will be required to stake Bware Tokens in order to be able to join the platform and get rewards, we will also implement a delegation mechanism so that BWR token holders can delegate their tokens to node providers and get a share of their rewards. Moreover, a pre-staking functionality will be available after the Public sale, until the staking and delegation mechanism will be fully implemented.
Cryptodiffer CommunityWhy Maiar app shows 0% APR?How many bwr were sold in private sale?
Alexandru MinulescuThis one we get a lot, at this point our validators are not elected and that is why the APR is 0%. Elrond is working on a strategy to help queued nodes get elected and hopefully we`ll be there soon. You can check our position in the queue here: https://explorer.elrond.com/queue?search=bware
Cryptodiffer Community🌼 Could you please explain how the Bware token tokenomics will be structured? Will new tokens be minted? Or will it be fixed supply? Any burn system?
Flavian ManeaThe total number of tokens is fixed to 100M tokens, and it will be minted on Ethereum Network. The bridge will work with minting tokens on other chains and locking them on a smartcontract on Ethereum (when moving from ETH to other EVM compatible Chains) and will involve burning on EVM compatibles and unlocking on ETH when doing the opposite operation.
Cryptodiffer Community✅ I read that Bware Labs will initially be a centralized project run by the team. How and at what point do you plan to make the transfer to decentralization?
Flavian ManeaThat is correct, we will start by supporting the entire infrastructure ourselves which will help us understand exactly, what are the main challenges for node providers and will allow us to define fair and precise requirements for them. The decentralization will start in Q4 this year and will take place gradually as node providers start joining. Provider slots will be opened based on the traffic needs of the platform.
Cryptodiffer Community- Tell us a little bit about the projects that are collaborating/supporting Bware Labs at the moment. Where can we find information about recent partnerships?
Alexandru MinulescuWe are very interested and working hard to support the most promising blockchains, especially the new ones, to provide what we think is valuable help for their growth. For now, we have confirmed partnerships with Elrond, Polygon (formerly Matic) and more announcements are coming soon. You can find more info about each of them on our Twitter:
Also, all our news are announced on our Telegram community channel: https://t.me/bwareLabs
Cryptodiffer Community❎ I understand that Bware Labs currently supports Ethereum and Binance Smart Chian, but what others are you working on integrating? Polygon for this growing strongly will you integrate your services for this blockchain as well?
Flavian ManeaWe are working on Integrating Avalanche and Polygon, and we are also a public API provider for Polygon as well.
Cryptodiffer CommunityBware has decentralized infrastructure on Polkadot and Sifchain lined up in Q3 2021 on the roadmap.
How would this add value to your ecosystem?
Alexandru MinulescuOur roadmap, especially the most distant one, is as fluid as the crypto market :) We try to choose the projects we support carefully, but once a trusted and promising project might become less appealing, as time passes we adapt. Since our platform is built in such a way that we can easily add support to networks, we try to make impactful decisions and improve our ecosystem in the best possible way.
@makscryptodiffer I believe we`ve covered most of the topics above.
Myko (CryptoDiffer)We were pleased to host the AMA!
Thank you for your time
Alexandru MinulescuIt was a pleasure to see such engagement on our project. Thank you very much for hosting this. Welcome to the Bware family!
Flavian ManeaIt was a pleasure to be here!
The Crypto Differ group is the best!