Meridian Network AMA Recap

Meridian Network AMA Recap

CryptoDiffer team

We are glad to meet here 

Mark Landers  (Co-founder of Meridian Network) 

Yomonk (Co-founder of Meridian Network)

Co-founder of Meridian Network, Yomonk

Hi everyone, glad to be here!

Co-founder of Meridian Network, Mark Landers

Hi guys! Thanks for having us over!

CryptoDiffer team

Q1. Can you introduce yourself to our community ?

Co-founder of Meridian Network, Yomonk

Sure. So my name is Yomonk I’m a co-founder of Meridian Network along with Mark. We’ve built an ecosystem of dapps (specialised in Defi) that are governed by its own DAO. We’re set to launch our 2nd dapp called PreSaga which is a market predication dapp and looking to compete with market players such as Augur.

My background is in enterprises sales (SaaS), e-commerce (had my own ventures) and also digital consultancy. I’ve been in the crypto space since 2017 as an avid investor/trader/researcher. And together with Mark and our team, we launched Meridian Network in May 2020.

CryptoDiffer team

Q2: Can you briefly tell us what is Meridian Network in 3-5 sentences?

Co-founder of Meridian Network, Mark Landers

To sum it up quite a bit, Meridian Network’s goal is to become the first ecosystem of dapps/protocols to be community run, governed by its own users through a set of DAO-implemented mechanisms. Users have the ability to propose every and any ideas they deem worthy through the DAO structure.

We hope one day to be a fully community-governed structure in terms of deciding on future steps, for each and every decision affecting the project. Right now we have the DAO up and running but we’re still in its infancy where the Foundation still has some degree of control, namely on development. Our aim is to progressively pass this control onto our users

CryptoDiffer team

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

Co-founder of Meridian Network, Yomonk

Sure, I can talk about our milestones. In the short amount of time since inception, we’ve launched our Meridian Vault (staking dapp which staked over 90% of the circulating supply), a successful tokenswap from MRDN to LOCK, balancer dapp (via Balancer which contained close to $100k in liquidity), been published in key news outlets such as cointelegraph (https://cointelegraph.com/press-releases/the-meridian-network-brings-end-user-oversight-to-the-world-of-defi), yahoo finance, business insiders and successfully built a DAO which governs the key decisions of the project.

Co-founder of Meridian Network, Mark Landers

Regarding our upcoming plans, currently we’re implementing a new stage of staking & liquidity staking using Ferrum Network’s platform, where we will host 4 different staking pools. ROI for these pool can go from 12.3% to 133%, depending on the period you choose. This translates to a monthly return anywhere from 7% to 33%. We believe this will drive liquidity into the project as allow for a more comfortable entry for our newcomers. 

One major milestone we’re still hoping to achieve this year is the launch of PreSaga, our first community-approved Dapp, which will be a prediction market Dapp. 

We’ve been researching the competition in ths space, and we think we have the chance to do something different here, as we’re going for ease of use and low entry barrier as a way to differentiate ourselves from projects such as Augur, Omen, etc

We’re actually releasing the specs for this Dapp soon on our Medium!!!

CryptoDiffer team

Awesome, a lot of updates to come out!

Thank you for great answers!

I think it is time to start community questions round!

Cryptodiffer Community

Q1. What influence do users actually have in Meridian Network as a Dapps ecosystem, with protocols managed by the community? What are the requirements to participate in the decisions?

Q2. Why was the upgrade from MRDN to LOCK neccesary, if MRDN had a smart contract? What aspects of it were changed, is the new version scalable and functional?

Co-founder of Meridian Network, Yomonk

Our community members have heavy influence in the dictating the direction of the project through proposing new ideas and also voting on them. We do our best to listen to the community and using platforms such as Aragon & Colony, our community can formally suggest/act on their ideas. The requirements to participate is simply holding the LOCK token and voting via Aragon during the voting periods.

Cryptodiffer Community

1. Meridian Foundation is 100% non-profit. How then does the foundation generate income?

2. Why wouldn’t a team develop their own project/token instead of putting it on the Meridian ecosystem?

Co-founder of Meridian Network, Mark Landers

Thanks for the question. Each Dapp we henceforth develop will generate a small income for the Foundation, as a way to fund future Dapps and implementations. Think of it has recouping the investment for each one we build. PreSaga for instance, will carry a small fee for each market that users bet on, which will also serve to pay for the gas these transactions bring.

There won’t be any teams joining Meridian Network, we are not a native blockchain. We will, however, develop several use cases on top of the LOCK token, as the goal is create a whole ecosystem of DeFi Dapps

Cryptodiffer Community

– When is the Launch date for all 4 staking pools, and please can we get detailed specifications for each of them?

– How will Staking and liquidity staking of #LOCK tokens through Ferrum Network operate?

Co-founder of Meridian Network, Mark Landers

Staking pools launch simultaneously on October 26th, both staking and liquidity staking.

Staking will be done through our website, we will simply be integrating Ferrum’s platform in the back end.

For detailed specifications, please check 

https://medium.com/meridian-network/amas-schedule-d5a50a90c2c9

Cryptodiffer Community

Why did Meridian decide to join the Ferrum staking program? 

Without proper marketing and capital infusion, project dies, how do you convince us you have adequate marketing power and capital to push this project to the top project ?

Co-founder of Meridian Network, Yomonk

We decided to join Ferrum as the 1st launching partner to support liquidity staking via their platform. We opted for Ferrum due to the flexibility of their platform. And one of the main reasons for launching another staking program for the community is to reward them leading up to the launch of PreSaga and also to stabilise the market price of LOCK. In regards to marketing, we plan to control budgets but also focus on twitter which has more potential for virality. Another thing we’ve been very impressed on is the homegrown marketing that’s done by our community. I think we’ll be sourcing a lot of our future marketing power from the community as well.

Cryptodiffer Community

Projects that were launched on Uniswap often receive criticism due to the fact that there are many bad actors running on the platform! What makes the Meridian Network different from them?

Can you tell us the motivation and benefits of investors holding LOCK tokens for a long time? What are your plans to help drive the demand and scarcity of LOCK tokens?

Co-founder of Meridian Network, Mark Landers

As there are many bad actors, there are also good actors, and many respectful projects have successfully launched on Uniswap. Uniswap itself is not the issue, it is actually a groundbreaking innovation that helped bring crypto to many supporters who for some reason were unable to register and buy through traditional CEX’s. We think Uniswap is a great tool especially for early stage projects who lack the funding needed to list on a CEX.

To answer the second question, LOCK’s value will derive from the many financial dapps we plan on creating in the future, of which the DAO balancer pool is the first one ( the Vault is actually the first one but that one is not a permanent dapp ). LOCK will be central to these decentralized applications and its use will increase with each new one.

Cryptodiffer Community

Tell us about your plans for 2020, what are you currently working on, and are you going to expand the list of big exchanges?

Co-founder of Meridian Network, Yomonk

As mentioned, we’re developing our market prediction dapp called PreSaga and set to launch by the end of the year. One thing we haven’t talked about is that we’ll have Cryptodaily featuring us in one of his videos next week. This should help create more awareness to Meridian across his large audience and this is something we’re very excited about. Do we have plans for big exchanges? Certainly, we are in touch with several big exchanges leading up to our launch but we’re looking to time this correctly.

Cryptodiffer Community

Do you have any new partneship recently? And what advantage of this partnership to the project?

Co-founder of Meridian Network, Mark Landers

We recently announced a TrustSwap integration for PreSaga. The way this benefits is by allowing us to focus on the front end and product development while outsourcing the escrow in charge of user funds, which will still be non custodial. 

Another partnerhsip we recently announced was with Hacken, who will be providing development support and security services to ensure PreSaga has everything in place to be a market leader in the prediction market space

Cryptodiffer Community

What security features will be implemented in Meridian to prevent theft due to an error in the smart contract. Will the code be audited to identify vulnerabilities?

Co-founder of Meridian Network, Mark Landers

Every piece of code developed by/for the Foundation will be audited by Hacken prior to its release. We take no chances, and we’ll also be releasing several test version before the beta product is out

Cryptodiffer Community

What the price of LOCK ?

Co-founder of Meridian Network, Yomonk

Current price of LOCK is $0.10 and at its peak it went north of $0.70. Augur, our competitor has $143 million MC with a price of $13.06 and both projects have similar circulating supply.

Co-founder of Meridian Network, Mark Landers

I think that’s it for now. Make sure to check our socials for more info

Website: https://meridian-network.co/

Medium: https://medium.com/@meridiannetwork

Twitter: https://twitter.com/networkmeridian

Discord: https://discord.gg/nbRUbhE

Reddit: https://www.reddit.com/r/meridiannetwork/

Drop by our chat, we have a great community and a team of admins always willing to help and clear any doubts you guys might have

Co-founder of Meridian Network, Yomonk

Also, we have our staking specs in this doc here: https://medium.com/meridian-network/introducing-the-full-specs-of-our-staking-liquidity-staking-pools-ac6ab9d116d6

Okay guys, thanks for hosting us!

Thanks for all the questions! And hope to see you guys in our community.

Cryptodiffer TEAM

Awesome!

Thank you. Appreciate your time, great answers.

Thank you everyone who took part today.

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