Gourmet Galaxy AMA Recap

03 Sep 202019:08

AMA

Gourmet Galaxy AMA Recap

Cryptodiffer Team

Hello, everyone!😁

We are glad to meet here:
Thomas Johnson - CEO (@thomasatgum)
Kunchok Tsomo - CMO (@kunchoktsomoreal)

Thomas Johnson

my pleasure to be here

Cryptodiffer Team

Our team has prepared 3 questions for you to start with!

First one is:

Q1: Can you introduce yourself to our community?

Kunchok Tsomo

I and all my guys on @gourmetgalaxy_chat are very excited! My name is Kunchok tsomo, i am the CMO of Gourmet galaxy.
Have been active in the crypto space for over 4 years now.
Started with mining, moved into investing, and over the years supported various projects.
I am already 30 years old and gourmet is a project I devote a lot to the community.
To come to this achievement, Kayra and I spend almost exclusively on the project. The biggest thanks go to Thomas. He mostly slept with the project.
I was involved in peer-to-peer technology, before entering the blockchain industry I worked for Binance labs and Microsoft.

Thomas Johnson

Hello guys, I am Thomas Johnson CEO of the gourmet galaxy. You just heard from Kunchok Tsomo, our CMO. It’s really a pleasure for us to be here with you guys today!
So I started in crypto since 2014, the first time bitcoin was called a bubble.

A friend of mine told me about bitcoin and how it would be an excellent investment opportunity.
So I threw in about $3,000 and got myself 5 BTC at the time. That’s when the BTC price is more than 600$. I didn’t sell when it goes to $1000/BTC, because I want to see how much it can climb.

Well after that, the price drop to 200$, and my friend tell me that don’t worry, keep “holding”. I then ask myself, what is so special about bitcoin, that many people so excited about it, and they keep on believing the idea no matter what?

And since then, I start my research about blockchain and get hook up. Just like that, I became a blockchain enthusiast. I believe in this industry’s future and how it will change people’s lives just like the internet did. I was working for Coindesk as an analyst since then (besides of invest in projects myself). I also worked as an engineer for Celcius

And in mid-2020, I start Gourmet Galaxy, and here we are!

Cryptodiffer Team

Awesome, thank you for the intros, very interesting!
Q2: Can you introduce Gourmet Galaxy to us?

Thomas Johnson

Gourmet Galaxy is an innovative Yield Farming platform, a combination of DeFi and NFTs in a gaming experience. We are aiming to be a Galaxy on Multiple Chain, which mean our platform will support Ethereum, Polkadot, Binance Smart Chain, HECO and Matic in near future. We believe that in, Blockchain and DeFi should be used to make everyone's lives better. The combination of DeFi and NFTs will be the "gateway" to bring the masses to DeFi.

We have 5 core products:

GUM Swap - AMM DEX Platform
GUM Farm - Yield Farming
GUM Pad - Crowdfunding (IDO) platform, allows cryptocurrency projects to raise funds by setting up a swap pool based on a fixed purchase rate for tokens.
NFT Universe - NFT gaming platform
and Galaxy Market - Marketplace for NFT

Cryptodiffer Team

We have the last question from our team before we open chat for community

Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

Thomas Johnson

So far, we have already achieved:
- Finish the crowd funding round, oversubcribed
- Get our GUM Farm, GUM Swap and GUM Pad audited by Certik.
- GUM Farm (Yield Farming platform) received incredible attentions from community.
- Beta testing for our NFT Games coming toward the end phase, so far so good.
- Partnered with Polygon (formerly Matic Network), and we deploying our GUM Swap and GUM Pad on Polygon.
Upcoming plans in the near future include:
- GUM Pad and first IDO on GUM Pad in early March
- GUM Swap in February
- Bridge to Binance Smart Chain in February - early March
- NFT Universe available in June
- More Farming Pools on GUM Farm
You can also find out more about our roadmap at:
https://gourmetgalaxy.gitbook.io/gourmet-galaxy/roadmap

Cryptodiffer Team

Thank you for such detailed and interesting answers!
It is time to move to the community questions part.

Cryptodiffer Community

Recently I came across an announcement of your partnership with fire Protocol, can you tell us more about it, what led to the partnership, the problem you hope to solve with it and how we the community would benefit from it?

Kunchok Tsomo

We take a lot of time to source out the best opportunities to leverage our cross-chain functionality. One of the new most interesting projects that have delivered an AMM on Huobi’s new blockchain was Fire Protocol, which helps onboard non-Huobi Chain assets via our cross-chain solutions.

Both sides will work together to further push the development of GUM & FIRE ecosystems in a mutually beneficial way.

Through the Strategic Partnership, both sides will also work together in terms of technical development, marketing promotions, business collaboration to further expand the ecosystems, and drive innovative development. Especially with our Galaxy on HECO.

Cryptodiffer Community

Is your team considering Layer 2 technology for game scalability in Gourmet Galaxy? Are you planning to work on cross-chain functionality on your Gourmet Galaxy platform?

Thomas Johnson

Yes!
Actually, that is the point of Gourmet Galaxy x Matic partnership. I think at the moment, everyone already aware of the situation with Ethereum network and gas fees.
So naturally, we have to find alternative solutions, especially with Polkadot support for NFT/Gaming is limited.
That is why we deploying NFT Universe on Matic. With this partnership, not only we can scale up our game, but we can also work with other NFT projects within Matic network (Now Polygon)
Cross-chain also coming!!
Read more about Cross-Chain here:
https://gourmetgalaxy.gitbook.io/gourmet-galaxy/a-galaxy-on-multiple-chains

Cryptodiffer Community

There are 3 core issues prevalent in crypto and blockchain: Security, Interoperability, and Scalability. How does Gourmet Galaxy plan to overcome these issues?

Thomas Johnson

Security: Audited by Certik
Interoperability: Polkadot Parachain coming in Q2
Scalability: Galaxy on Multiple Chain. https://gourmetgalaxy.gitbook.io/gourmet-galaxy/a-galaxy-on-multiple-chains

Cryptodiffer Community

-Gourmet Galaxy launched GUMPAD. Can you tell us more about this launchpad and what criteria will you look out for, in a project, before they do their pre-sale/ fundraising?

-To what extent will Gourmet project be involved in the development of projects on their launchpad? Do you handle Liquidity Provision, Marketing, Partnership and listing on exchange?

Kunchok Tsomo

GUMPad allows cryptocurrency projects to raise funds by setting up a swap pool based on a fixed purchase rate for tokens.

With GUMPad, decentralized projects will be able to raise and exchange capital cheaply and quickly. Users will be able to participate in a secure and compliant environment and to use assets that go way beyond the current ERC20 standard.

GUM Pad will be deployed on Matic Network, in order to minimize transaction costs, speed up settlements, and open up new connections with other Blockchain projects within Matic Network. This will put GUM Pad as the first Layer2 Crowd Funding platform that built on Matic.
so how does it work?
GUMPad has two different types of users: Blockchain Startups and Investors. GUMPad enables Blockchain Startups to list their tokens at a fixed purchase rate and allows Investors to exchange their liquidity for tokens.

Suppose Bob is a Startup owner who wants to create liquidity and raise more funds prior to his DEX listing for his tokens. He can build multiple pools for multiple token standards to attract more potential investors.
In another example, we've got Sally - a potential investor looking for quality projects. Sally will take a look through GUMPad pools, and choose to invest in the pool that she likes most. This pool may be built on BSC, HECO, Ethereum, or Polkadot. After this, Sally simply swaps her liquidity (USDT, DAI, ETH, HT, BNB, DOT, etc…) in exchange for the project’s tokens
Sally wouldn’t have to worry about the price rate, slippage, gas, cheaters, bots, or anything else due to GUMPad’s features.
We are a place for the project to have a chance to grow, we do not support Marketing and Liquidity Provision in general.

Cryptodiffer Community

Q. Yield farming has come to stay in the DEFI space, please tell us how $GUM compares to many yield farms offering high APY on liquidity staking, and why would crypto investors pick it over other yield farming opportunities?

Thomas Johnson

We are well aware that there are many Yield Farming projects out there. But GUM Farm will have a few advantages in the current situation:
+ Designed to overcome Impermanent Loss, with Incentive Token (GUM) have many use cases
+ Multiple pools coming in near future (at least 2 other pools with multiple partnership)
+ Deflationary token.

Cryptodiffer Community

Q. Most of the gamers have no knowledge of blockchain / cryptocurrency. How can Gourmet Galaxy recommend his game to casual users who don't have enough blockchain knowledge?

Kunchok Tsomo

GUM is a pioneer in the space of blockchain gaming, NFTs and true digital ownership – we have been really pushing forward the industry and awareness in general. Making a game that is fun, visually appealing and has good mechanics so you want to stay and keep playing it for a long time is our priority. Players will not come for the technology, but for the fun and the experience. Then they can benefit from the advantages offered by our decentralized model, collecting tokens, earning rewards and being able to trade game items, their creations, planets etc.

Then, besides make a great game – we have a clear growth strategy, based on

1. Partnering with content companies.
2. Conducting AMAs to educate the community.
3. Constantly engaging with the public on social media channels.
4. Marketing and User Acquisition to gamers
5. Through the brands and their fans, we can reach mainstream gamers and creators through their favorite brands.

Cryptodiffer Community

How do my NFT tokens retain their value over time? Is there a deflation mechanism inside the Gourmet Galaxy like buyback and burn? Is there an NFT limit for each object in the Gourmet Galaxy?

Thomas Johnson

There is absolutely no guarantee that anything in the Blockchain industry will retain value overtime.
However, our NFT Token (PLANET) is
+ Limited (1000)
+ Multiple use cases
So naturally, as long as users still using our platform, PLANET value will retain

Inside Gourmet Galaxy, there will be a deflation mechanism. GUM used in PLANET forging will be partly burned. At the end, there will be 25% of total GUM supply get burnt

Cryptodiffer Team

Thank you for your time
great answers
Chat is unmuted, thank you everyon who took part today

Thomas Johnson

Thanks, guys!!!

Thomas Johnson

Dont forget to follow our Social Medias:

🔮Website: https://gourmetgalaxy.io
🐦Twitter: https://twitter.com/gourmetfinance
📰Medium: https://medium.com/@gourmetgalaxy
📄Gitbook: https://gourmetgalaxy.gitbook.io/gourmet-galaxy/