01 Oct 202200:38
AMA
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ChainPort AMA Recap
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Denis (CryptoDiffer)
❗️ AMA structure and rules: 👥 Denis (CryptoDiffer)- Community questions part starts after the guest/guests finishes/finish answering the introduction questions asked by the moderator. Moderator unmutes the chat to allow up to 100 messages and mute it.
- Each person is allowed to write only one message containing 2 questions, violators will be disqualified from participating in the reward distribution.
- Copy-pasted questions from previous AMAs are strictly forbidden, violators will be disqualified from participating in the reward distribution.
- All questions&concerns regarding AMA members should send in dm to @cryptodiffer_admin
- Important, please don`t write to other CryptoDiffer team members, they won`t be able to help you.
- Winners are chosen by Guests.
❗️Dear community, CryptoDiffer will hold an AMA with ChainPort, on the 15th of September, at 3:00 PM UTC in the CryptoDiffer Telegram Chat!
The rewards pool for the best questions is $300 in PORTX!
(Questions from previous AMAs are strictly forbidden and people will be disqualified from participating in the reward distribution.)
CHAT 🗣 https://t.me/joinchat/Brbs51k5cWoRBKtsgmb6Ew
30 minutes to go
❗️ AMA structure and rules: 👥
- Community questions part starts after the guest/guests finishes/finish answering the introduction questions asked by the moderator. Moderator unmutes the chat to allow up to 100 messages and mute it.
- Each person is allowed to write only one message containing 2 questions, violators will be disqualified from participating in the reward distribution.
- Copy-pasted questions from previous AMAs are strictly forbidden, violators will be disqualified from participating in the reward distribution.
- All questions&concerns regarding AMA members should send in dm to @cryptodiffer_admin
- Important, please don`t write to other CryptoDiffer team members, they won`t be able to help you.
- Winners are chosen by Guests.
❗️Dear community, CryptoDiffer will hold an AMA with ChainPort, on the 15th of September, at 3:00 PM UTC in the CryptoDiffer Telegram Chat!
The rewards pool for the best questions is $300 in PORTX!
(Questions from previous AMAs are strictly forbidden and people will be disqualified from participating in the reward distribution.)
CHAT 🗣 https://t.me/joinchat/Brbs51k5cWoRBKtsgmb6Ew
15 minutes to go
Hello, everyone!😁
We are glad to meet here:
Maximiliano Stochyk|Head of Marketing at ChainPort.io|@mstochykduarte
Eitan Seri-Levi|Director of Engineering&Product|
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Maximiliano | Dcentralab.com
Hey, thanks for having me today! Maximiliano | Dcentralab.comDenis (CryptoDiffer)
Welcome, thank you for taking your time today! Denis (CryptoDiffer)Our team has prepared some questions for you to start with:
Let`s start with the introduction !
Maximiliano | Dcentralab.com
Perfect! Maximiliano | Dcentralab.comDenis (CryptoDiffer)
Q1: Can you introduce yourself to our community? Denis (CryptoDiffer)Maximiliano | Dcentralab.com
Yes! Maximiliano | Dcentralab.comI'm Maximiliano, Head of Marketing at ChainPort.io!
ChainPort.io is a product of Dcentralab.com - We’ve been in the space for more than 6 years building different types of products including Hord.app which had an amazing launch on DAO Maker last year with a 72x ATH!
We have two offices, one in Tel-Aviv, Israel, and the other in Belgrade, Serbia. We are around 50 people working at Dcentralab with around 17 (adding new members each week) of us being 100% focused on ChainPort.io
Done
Denis (CryptoDiffer)
Q2: Can you introduce ChainPort to us? Denis (CryptoDiffer)Maximiliano | Dcentralab.com
Yes! Maximiliano | Dcentralab.comChainPort is the only blockchain bridge that places security first. With ChainPort you can hop across the leading blockchains with just a click!
It is the most secure bridge in the crypto-space by using a funds segregation model, with the best custodial technology in the space - FireBlocks MPC, and Gnosis-safe. This means that we keep over 95% of the TVL on our cold storage vaults at any given time. ChainPort also offers full interoperability between chains, allowing users to hop between chains without ever the need to go back to the native chain, with a fast and simple interface.
Let me share more about our fund segregation model one moment
How ChainPort Ensures Security
We let you port in 3 minutes without technical integration just a wallet to any of the chains we support with more being added all the time!
Done
Denis (CryptoDiffer)
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans? Denis (CryptoDiffer)Maximiliano | Dcentralab.com
Yesterday we announced our new roadmap that comes with PORTX launch (our native token) which TGE is coming this September 20th Maximiliano | Dcentralab.comLet me share some of it here...
Our updated Roadmap
For our next Q
Q3 22
- Explore page
- ChainPort Private Custodian V1
- Trail of Bits Audit
- New chains: Aurora, Dogechain
- New native tokens chains: Fantom
- Porting fees V1 (pay with ported tokens)
- PORTX token launch
Q4 22
- First non-EVM chain - Cardano integration
- 4 new wallet support
- New Chains: Arbitrum, Celo, Step network, & Evmos
- Porting fees V2 (stake and pay with PORTX)
- ChainPort telegram butler
- ChainPort for stablecoins V1
- Port to Ethereum V2
- ChainPort Widget
- End-of-Year target: 12 supported chains, 100 tokens, 20k users
We are launching PORTX token which you can find most info on chainport.io/token
We managed to raise more than $13.5M having our biggest rounds on DAO Maker, VENT, Poolz and Fantom Maker
In the last months we achieved:
- Great volume crossing $600,000,000 in total volume since we launched in June 2021
- 189 tokens and counting using ChainPort
- 9 chains that we support with more to come
- Explore page, stats page and a Trail of bits audit that is in progress
- Audit by CertiK, CyberUnit, security on-going hardening of our bridge to make it the most secure bridge in the space
And more!
Done
Denis (CryptoDiffer)
Thank you for such detailed and interesting answers! Denis (CryptoDiffer)It is time to move to the community questions part.
Let's remind AMA rules to the community😊
❗️ AMA structure and rules: 👥
- Community questions part starts after the guest/guests finishes/finish answering the introduction questions asked by the moderator. Moderator unmutes the chat to allow up to 100 messages and mute it.
- Each person is allowed to write only one message containing 2 questions, violators will be disqualified from participating in the reward distribution.
- Copy-pasted questions from previous AMAs are strictly forbidden, violators will be disqualified from participating in the reward distribution.
- All questions&concerns regarding AMA members should send in dm to @cryptodiffer_admin
- Important, please don`t write to other CryptoDiffer team members, they won`t be able to help you.
- Winners are chosen by Guests.
I will open the chat at 3:14 UTC, check exact time on time.is
Chat is muted! Thank you for your questions, everyone!
Maximiliano Stochyk|Head of Marketing at ChainPort.io|@mstochykduarte,Eitan Seri-Levi|Director of Engineering&Product|,please choose the questions you like and answer them! If you wish to have additional rounds, just let me know
Maximiliano | Dcentralab.com
Sure, let me select a few :) Maximiliano | Dcentralab.com
Cryptodiffer Community
I learnt that ChainPort’s planned introducing an improved fee mechanism known as V2. Can you please tell us the difference between the V1 version of ChainPort’s fee mechanism and the V2, and V3? Cryptodiffer CommunityMaximiliano | Dcentralab.com
Let me answer this question ☝️ Maximiliano | Dcentralab.comYes, so the main difference is how we charge fees and how we distribute them - V1 only lets you pay with the ported token, you can check more info here https://medium.com/chainport/chainport-fee-mechanism-v1-goes-live-b6eba8971c80
V1.5 will come with PORTX launch in a couple of days and we will give you a discounted fee of 33% so instead of paying 0.3% you will pay 0.2%
Cryptodiffer Community
Is ChainPort completely decentralized? Will there be a risk of interference or detention to move tokens across the chain? Cryptodiffer CommunityMaximiliano | Dcentralab.com
Right now based on all the current hacks to a lot of bridges that we will not name but with losses totaling more than $1.5B we can say that decentralized bridges are not safe. Maximiliano | Dcentralab.comOur approach is centralized and similar to what centralized exchanges are doing.
We keep 5% on the hot-bridge contract and 95% in cold vaults which are basically really hard to exploit without physical access to the vaults which are never connected to the internet
The good news is that we recently introduced ChainPort Private Custodian which lets projects using ChainPort take control of some of the keys we use for the multi-sig
Example: You have a project, we will give you 2 keys to sign, we will keep 2 keys ourselves as ChainPort congress and we will give a law firm or trustee a key in case something happens to our team (we all die in a plane accident or similar)
This is the best of ChainPort but with more control for the project using our platform to port to different chains
You can find more information here: https://chainport.io/private-custodian
Done
This is a very important question!
PORTX is coming out next Tuesday - September 20th
You can check our official announcement here https://twitter.com/chain_port/status/1569694046121070594
We will have PORTX as the main utility token for ChainPort
- PORTX will give users 33% discount on the bridge usage (0.2% vs 0.3%)
- It will be used for staking and earning APY when pre-depositing the tokens for those fees
- and it will be used as an incentive to grow the inventory for stables once we support them!
You can learn more also here: https://chainport.io/token
The $PORTX TGE date is around the corner! 🚀
Read our announcement below about the launch date, ChainPort's fee mechanism, and more 📢
TGE is happening on September 20th, 2022! 🔥
More information on DEXs, and CEXs is coming soon!
Learn more 👇
https://www.chainport.io/blog/announcing-the-portx-token-generation-event
🗣 Retweet: https://twitter.com/chain_port/status/1569694046121070594
🌐 Join the ChainPort community:
ChainPort | Twitter | TG Community | ChainPort News | Blog | Docs | Medium
Done
@unclebills would you like to answer another one?
Cryptodiffer Community
I understood that ChainPort platform is a Cross-Chain bridge that works between multiple chains, so how do you guarantee that trading on this bridge will not cost us our investment? Does ChainPort have Unique security features, how secure is your bridge? Cryptodiffer CommunityMaximiliano | Dcentralab.com
Answering this one! Maximiliano | Dcentralab.comQuestions says..."I understood that ChainPort platform is a Cross-Chain bridge that works between multiple chains, so how do you guarantee that trading on this bridge will not cost us our investment? Does ChainPort have Unique security features, how secure is your bridge?"
When it comes to security we are the only ones that are using fund segregation and the only fully-custodian bridge in the space
- We have multiple audits by CertiK, CyberUnit and an ongoing one by Trail of Bits (biggest company)
you can check CertiK here: https://certik.com/projects/chainport
We have a complete security page that you can check here: https://chainport.io/security
Then ChainPort works in a super simple way:
We works in a method named synthetic wrapping.
We will lock the original asset (eg. ERC20) on a contract, and mint a new token on the destination chain (eg. BNB Chain).
This action is atomic and always happens in a one to one manner.
One token locked- One token minted
One token burned, one token released.
Done
Cryptodiffer Community
Is CHAINPORT has Adopted Real Cross-Chain Interoperability because this is MUST Cryptodiffer CommunityMay I know Till now CHAINPORT has Integrated How Many CHAINS and are You working to add more Chain ?
Maximiliano | Dcentralab.com
I'll answer an additional one Maximiliano | Dcentralab.comQuestion says..."Is CHAINPORT has Adopted Real Cross-Chain Interoperability because this is MUST
May I know Till now CHAINPORT has Integrated How Many CHAINS and are You working to add more Chain ?"
We are working on many new chains, we just introduced Dogechain, Aurora as EVM and we will have Cardano as our first non-evm chain in the next couple of weeks, this is a big milestone, this should happen after the Cardano fork!
Next we will continue adding more EVM chains and non-evm chains like Solana and more!
You can check our roadmap here: https://twitter.com/chain_port/status/1570093736150941697
Done
Denis (CryptoDiffer)
Could you please present PORTX? Denis (CryptoDiffer)Maximiliano | Dcentralab.com
Yes, so PORTX is our native token https://chainport.io/token Maximiliano | Dcentralab.comWe are launching next week - mark the date in your calendar! September 20th, 2022!
ChainPort's native utility token is the PORTX token, it is central to ChainPort’s ecosystem and long-term sustainability, and represents a unit of value and a medium of exchange that can be used in many ways.
I invite everyone to join our TG community to read the latest news @chainport and https://twitter.com/chain_port
As we are a bridge we will be listed on all major DEXs on different chains and CEX listings also!
We didn't announce all of them, so stay tuned for the next days!
Great news are coming and you can also follow our ChainPort News channel here: @chainport_news
Fee distribution
ChainPort’s fee mechanism ensures long-term sustainability for a cross chain bridge. The mechanism essentially turns ChainPort and PORTX token into an ecosystem with incentives for holders and crypto projects. By turning ChainPort into a fully-fledged ecosystem, it will become the defacto bridge of choice for whoever wants to port tokens.
Basic Porting Fee - up to 95% Converted to PORTX
20% Project reward - An ongoing incentive for projects to make ChainPort their official bridge of choice. Claimable in PORTX.
20% Participation rewards - For each port made, the user will receive points that will reward them with PORTX.
20% Referral/Affiliation Rewards - distributed to eligible parties who referred the ported token, or ports made from an integrated ChainPort modal or through the API.
15% PORTX Buyback - A portion will be utilized to buy back PORTX on the market. Some, to all of this amount, may be used to remove tokens from liquidity (burns).
10% Lliquidity - Added on the various DEXs as liquidity forever. Half in PORTX and half in stablecoins.
10% APY for Stakers - This portion rewards PORTX stakers on the official ChainPort fee manager contract.
5% ChainPort Future Development - will be used for ChainPort future development.
Done!
Denis (CryptoDiffer)
Thanks for your time Denis (CryptoDiffer)Maximiliano | Dcentralab.com
Amazing @deniscryptodiffer thank you everyone and I hope you can join us for PORTX TGE next Tuesday! Maximiliano | Dcentralab.comIf you have any additional questions please come and talk to us on our community @chainport and we'll be happy to answer any additional questions!
Denis (CryptoDiffer)
Thank you to everyone who took part! Denis (CryptoDiffer)Chat is unmuted