UREEQA AMA Recap

07 Sep 202022:08

AMA

UREEQA AMA Recap

Myko (CryptoDiffer)

Hello, everyone!😁

We are glad to meet here:

Clinton, Community Manager

Clinton

I am happy to be here with you guys Myko!😊

Myko (CryptoDiffer)

Welcome Clinton, thank you for taking your time today!
Our team has prepared 3 questions for you to start with
Are you ready to begin?

Clinton

Yes sure, let's begin.

Myko (CryptoDiffer)

Let's start with the introduction
Q1: Can you introduce yourself to our community?

Clinton

My name is Clinton, I am the official Community Manager of Nabox wallet.
Done.

Myko (CryptoDiffer)

Okie, let's move to the project
Q2: Can you introduce Nabox to us?

Clinton

Nabox is a cross-chain DeFi wallet with decentralized identity technology for Web 3.0, with more than 40,000 product users, many technologies for Defi and NFT users
Done.

Myko (CryptoDiffer)

Superb
Now the last question before the community par
t
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

Clinton

Great question.

Cryptodiffer Community

We're very excited about our upcoming plans!

Of course, we launched at a market timing that's not the best and we are below our IDO price at the moment
We're very excited about our upcoming plans!

Of course, we launched at a market timing that's not the best and we are below our IDO price at the moment
However we also subscribe to the saying that bear markets are the best time to build, and we have indeed been working hard to build

Android and iOS apps will be in open beta very soon, and at the same time, we are also building out the swap product
However we also subscribe to the saying that bear markets are the best time to build, and we have indeed been working hard to build

Android and iOS apps will be in open beta very soon, and at the same time, we are also building out the swap product

Clinton

Partnership wise, we are non stop talking to exchanges, liquidity pools and other exciting projects. As one could probably understand, market being in the condition it's in right now, some activities had to be put on hold or slowed down, but please rest assured that we are doing all we can behind the scenes
Done

Cryptodiffer Community

@Graea_e
This project has really distinguishing features, due to the rate of different projects with similar functions and features

How do you plan to make this project forever STANDOUT and UNDESPENSABLE by users even in the future.?

Clinton

We see ourselves as a potential complement to most existing wallets

Currently, most wallets are done through three-party DApps, and we think that there is space for cooperation where Nabox can provide cross-chain functions for other projects, just as an example.

Cryptodiffer Community

🔵 You have received the support of more than 30 institutions with a corporate investment tour of 1 million USD.
How did your investors contribute to your project during this process, and in which areas will the funds collected be used for Nabox?

🔵Why was Nabox built on the NULS blockchain and what is the advantage of NerveNetwork technology to work across chains?
We have received investment from more than 30 well-known institutions around the world

Investors are also very optimistic about this track and will support the development of the Nabox project for a long time

We have made disclosures to participating investment institutions, and you can follow our news
We have received investment from more than 30 well-known institutions around the world

Investors are also very optimistic about this track and will support the development of the Nabox project for a long time

We have made disclosures to participating investment institutions, and you can follow our news

Clinton

Nabox was initially created as a dedicated wallet for NULS, and already has its userbase. This year, Nabox has undergone a massive restructuring and has re-emerged with brand-new capabilities with cross-chain capabilities

Also, current wallets are still a little bit too complicated for novice users, especially if users do transactions across different chains

Nabox's objective of being the only wallet a user needs for all the different chains would allow users to have a much better user experience

In the longer term, Nabox plans to adopt a digital identity (DID) system. Users only need to have a blockchain identity on Nabox to freely transition between various on-chain and off-chain applications

Cryptodiffer Community

💠How much the fee to build my own custom currency ? Thank you so much for the chance to asking to participate in this session.

Clinton

It's very cost-efficient to create your own token on the NULS blockchain, which was built in the beginning with cross-chain capabilities in mind. You can find out more from https://nuls.io

Cryptodiffer Community

-Could you please tell me just a little more about the team and some of their backgrounds???,"
-I have personally seen many projects launch with inexperienced team members and some of those didn’t go so well due to easily, avoidable mistakes.

Clinton

We are just getting started and our team is currently made up primarily of members from Singapore and China. As we were incubated by NULS, we also have the benefit of timely advice from advisors that have a ton of experience and gone through a lot of what we will be going through and can help us avoid mistakes

Cryptodiffer Community

Does your project support staking program?if yes. how is your stake system work, what is the requirement for user if they want to stake in your platform?Do you have a Token Burning plan to increase Token value and attract Investors to invest?

Clinton

Currently we have a liquidity mining program on DODO (https://app.dodoex.io/mining?network=bsc-mainnet) and we are always in talks with partners to add more very soon

Burning will be done down the line as our product matures

Cryptodiffer Community

While you build your project, do you take into account community feedbacks and demands?While you build your project, do you take into account community feedbacks and demands?

Clinton

For sure we do! In fact, we will be having an open beta for our mobile applications in the coming weeks and look forward to implementing user feedback for future versions

Cryptodiffer Community

I understand that Nabox currently has six different chains available in its DeFi portfolio, but does it really intend to incorporate other new networks such as Solana and Tron in the medium term?

Clinton

We are always looking to work with other partners and chains. At the moment, Polygon is the closest to happening and we will keep the community updated as we add more chains as the product matures

Cryptodiffer Community

Is your platform protected from hackers? How do you secure your platform for investor information? And how do you handle an attack on your platform, including the personal data of your platform users? Is your platform ready for this?

Clinton

Nabox does not take custody of user assets at all. We routinely remind and alert users to take good care of their private keys as that is the best way to ensure security

Cryptodiffer Community

If they really did focus entirely on DeFi assets, then will they be incorporating NFT collectibles into their portfolios any time soon? or will they only focus on fungible tokens?
We are always talking to new potential partners
We are always talking to new potential partners

Clinton

Projects like NFTCircle have already been onboarded and we look forward to adding new partners and helping existing partners create exciting updates

Cryptodiffer Community

What competitive advantage does Nabox have over other wallets? and Why is Nabox built on the NULS blockchain? What are the advantages?

Clinton

I particularly like the question, NULS was built for cross-chain from the beginning and we are grateful to have the benefit of being able to learn from the various great wallet projects out on the market right now and improving on them with our unique advantages and feedback.

Cryptodiffer Community

For new users, doing multi-chain transactions is usually complex to understand at first, will Nabox have a tutorial or a friendly interface with inexperienced users? Could you give us a review of how you can transact with Nabox?

Clinton

Cross-chain is indeed difficult to understand for new users. i will give you a quick guide below:
https://nabox.gitbook.io/naboxwallet/v/english/how-to-use-nabox-plugin

Cryptodiffer Community

In the longer term, Nabox says it plan to adopt a digital identity (DID) system. Can you tell us how this system will work and what benefits will it offer users of Naboxwallet?
As DeFi goes mainstream, new applications and requirements will surely come up
As DeFi goes mainstream, new applications and requirements will surely come up
Decentralized IDs are not common at the moment but we believe they will be in the future.
Decentralized IDs are not common at the moment but we believe they will be in the future.

Clinton

KYC is certainly one of the use cases, and the main objective is to make it easy and convenient for users to verify their identity, the degree to which they can decide themselves

Cryptodiffer Community

🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥
Sir will be ur wallet easy to use for even newbies who just enter crypto😢

What kind of special features can I expect in the wallet

Do we have exchanging available in the wallet itself 🤔

And lastly how much #safe and securable one it will be 😅
🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥
Good question Kowshik! User experience is certainly one of our top goals. Swap feature will be here in the coming months, and is one of the most anticipated features, so stay tuned!
Good question Kowshik! User experience is certainly one of our top goals. Swap feature will be here in the coming months, and is one of the most anticipated features, so stay tuned!

Clinton

As a decentralized wallet, Nabox does not store your private keys and it's extremely important that users understand the need to take proper care of their own private keys or seed phrase.

Cryptodiffer Community

You point out that with just a few clicks users can easily exchange tokens between different chains, but really what will be the steps to change a token between chains with Nabox? will it be simply to enter your wallet and exchange?

Clinton

The technical explanation is that this would be done via NerveNetwork, which is a layer 2 solution built on the NULS blockchain, but the technical portion will be handled behind the scenes and it would indeed be almost as simple as you described for the end-user

Cryptodiffer Community

New mostly find it difficult to use a wallet and often require guidance in form of user manual to reduce risk of trial and error . Did you consider this while developing your wallet. Meanwhile, did you design the wallet to hold Bsc tokens and other tokens aside Naxbox token ?
We are already preparing simple tutorial for these, please see the link below:
https://nabox.gitbook.io/naboxwallet/v/english/how-to-use-nabox-plugin
We are already preparing simple tutorial for these, please see the link below:
https://nabox.gitbook.io/naboxwallet/v/english/how-to-use-nabox-plugin

Clinton

And yes indeed, Nabox wallet does currently already support BSC

Cryptodiffer Community

🥇 What will be the most important applications and use cases of $NABOX token within the platform, will they be important enough to maintain a constant buying pressure, will you develop some other mechanism to constantly decrease its supply in the market?

Clinton

NABOX is a functional governance token that will be applied to DID to obtain different identity levels in the future, and the handling fee for registering DID will be burnt
More importantly, when the cross-chain exchange reaches a certain scale, a part of the exchange fee will be charged, and 40% of the fee will be used for repurchase and burning of NABOX tokens
You can see that the total amount of NABOX is relatively large, and the economic model design is very suitable for new users to give tips, so that new users can quickly experience the difference between decentralized products and Internet applications, and understand encrypted assets and blockchain Application logic
NABOX can switch and transfer at will on multiple blockchain networks through its own cross-chain function. For example: put it on the Nerve network without Gas fees, or put it on Ethereum, which has the most DeFi applications
Done

Myko (CryptoDiffer)

thank you for the ama
it was a pleasure for us!

Clinton

You are welcome, very nice of you guys to have me. Till next time.