Questions and answers to David Moss - CEO @ StrongBlock

These are questions that have been asked to David in the Telegram chat, starting from the 18th August 2020. I will try keep the list updated as time goes on.

Maybe this will be answered in the tokenomics info you will release at a later date. But will early holders of STRONG get any advantage at all? David: Early holders will be the first who will be able to stake.

David: Early holders will be the first who will be able to stake.

how much of the 6 million (-30k already circulating) will be supplied that day?

David: Now that the latest Medium post is out, our next focus (besides building the protocol) is to determine initial supply. It will be dramatically lower than 6m.

do you mean through staking rewards or additional supply being added to pay for listings etc.?

David: There are only a handful of investors and a small staff, most of whom have been involved with the company since we started. That’s the only place supply will come from. What would be our incentive to dump? We’re builders, in it for the long term.

What do you mean by initial supply? Does it all come out at once

David: Initial supply is simply what the small group of investors and staff will be contributing in order to get the protocol started.

But we should expect quite an increase in comparison to the 28800 were at now? Obviously you said the added amount would be dramatically less that 6m but as our supply is very small now even a 60 or 90k increase on that day would double or triple total supply. Are you able to share any more on this now at all?

David: You can’t do anything with STRONG right now to earn more STRONG. When the protocol launches, you can. That’s the 18-word summary of the latest Medium post.

You said holders will be incentivized for holding/awarded STRONG? How will that be in a form of an airdrop? This is separate to staking right?

David: I didn’t say that. There will not be an airdrop. STRONG will be released from the current close group of holders in order to kick-start the protocol. I can’t — and won’t — speculate on price or markets.

Are the holders of the 28,5K part of the close group of holders? Enjoy your breakfast! And great article!

David: No. You can see on our site who our investors are, and who’s on the team. There is plenty of information about who is involved. We have had no new investors since our last round.

David: I don’t eat breakfast, but thanks.

will we be able to stake via a wallet connect function in any ERC 20 Wallet?

David: Metamask is your friend.

David: There will be a limited set of ERC-20’s that you can stake initially, and that will expand. The smart contract is already written to accomodate all ERC-20’s We are now adding non-ERC-20 compatibility.

any min & max limit in staking?

David: There will be some minimum thresholds for the protocol in general so the early rewards are not distributed to too few stakers. After that, you can stake as little or as much as you want.

Hi, I don’t know much about the Strong token. Is there are any staking functionality available before October? As this would create more scarcity of coins. Once the coins are Staked. As the current supply is only 30 k.

David: No staking until the protocol launches.

When is that day,?

David: On or before October 1st.

Does staking our $strong token mean we can unstake at any time? Or is it locked up in a smart contract for a fixed period of time?

David: Yes, you can unstake at any time. You can’t, however, stake 1 minute before the end of the daily rewards and expect a reward

From what i understand is that the longer you keep your tokens stake the bigger your rewards get? Would that get reset if you unstaked and then staked again?

David: Yes, the calendar resets when you unstake.

Okay. Does this mean we can compound interests by unstaking and restaking daily?

David: Either you’re staked, or you aren’t. Rewards are calculated based on what’s staked.

I heard amazon is building similar kind of blockchain solution. How strong is going to compete with big giant like amazon? Have we planned any marketing strategy already?

David: Amazon already has several BaaS offerings. None of the BaaS companies have — or have announced — a DeFi protocol.

Is there anything you can reveal to use in terms of your marketing rollout plan?

David: Marketing plans are usually not published and are kept internal; protocols are “and then you take the 3 micron flange and aspirate the thingamabob using 3.14159 quantum tokens”.

So “whales” or larger holders are incentivized to hold on the basis they will get more % DeFi returns for staking their STRONG. Do I understand this correctly?

David: Everyone is incentivized. There are governable caps to the amount that can be staked.

To be honest with you the supply part till october is not clear yet to me. @DavidMoss are you saying no cex until a larger supply is released?

David: 30k STRONG were released. Holders will be the first one’s to test the protocol and governance. That may even be done before wider circulation is available, to determine protocol readiness.

You said early investors will make supply with their tokens the days after strong is listed. Do they sell on market when they supply?

Could u please clear that what will happen other tokens on coming days? If they release to the market for supply, price will dump because who release tokens sell on market price?

David: There are 10m total tokens. 4m is for daily rewards, and will gradually flow into the protocol over 4 years. All other tokens besides the 30k will be gradually unlocked over 2+ years, by the small group of investors and team that hold them. The exact initial supply will be published soon.

Is there anything else to expect before product launch (not promises but perhaps roughly in your mind)? a) Further medium Article on tokenomics b) AMA

David: Partnership announcements. Endorsements. Interviews. AMA’s.

Hey David, nice to meet you, when you or our team will clear tokenomics plan?

David: That’s the next big non-dev thing we’re working on. We’ll be publishing as soon as we have completed it and have clearance.

when you say a small group of early investors will be increasing supply over the next 4 years — will they be selling on the open market?

David: There is no other source of supply except daily rewards.

Will the coins of the early investors be in the circulating supply and eligeble for staking and trading? Per 1–10

David: We have asked our team and investors not to participate in the daily rewards.

Thanks for clarifying. For the 30K holders, this is very good.

David: Whoever has those 30k tokens when the protocol launches will be the first to get rewards from the protocol.

Well, interested in all of that. We can at least expect a turbulent few weeks coming. hopefully soon we have exact details about tokenomics/suply, partnerships to be announced and some listings.

David: Yes, soon. We are even more anxious than current holders about getting this published.

David, (sorry if it’s been asked), day 1 staking rewards are 10% If I start staking day 1, do i keep those rewards until i unstake? Or do my rewards constantly adjust each day based off supply/number of stakers? Cheers

David: I don’t understand the 10%. Rewards earned are yours. Unstake, no new rewards.

Im a little confused by this sorry, so would the (yet to be decided) amount of coins your going to release initially in october not add to the supply? or by this do you mean you will release them through staking?

David: STRONG (this is all in the latest Medium post) is released daily as rewards. The amount that will be released when the protocol launches will be published soon. Staking is why you want to have STRONG, as the StrongPool will only accept STRONG for staking.

Will I get reward if a holding strong on Erc 20 wallet?

David: They are the source of any available supply for staking.

Is there any minimum $STRONG holding will be required to get Rewards of Staking/holding?

David: There is no minimum requirement per staker, but there will be minumum to get the staking/rewards process going. It is governable. We’re setting it low.

Not sure what “low” will be. We want to have a minimum threshold so a small number of stakers don’t get outsized rewards when we launch.

Will StrongBlock publish how nodes will be rated? Or will there be guidelines for nodes to follow for a positive rating? Or is it all obvious metrics that will be judged like speed, uptime…

David: Yes, yes, and some obvious metrics, some not.

Would it be possible to have more than one community for a given token? Example: Could there be two eth communities if it was voted in using the governance referendum? Or is there a hard limit of 1 community per BC protocol?

David: Our current thinking is one community per protocol. There is not (yet) a governance parameter preventing more than one Community per protocol.

how will future tokens will be allocated? There are lots of assumptions that all strong rewards will be given to the holders of the initial 28.5k tokens.

David: The current holders of the 30k (~2000 are not circulated, some are pooled on Uniswap and Balancer) will be the first to be able to stake in the StrongPool and receive rewards. That is the advantage of holding for when the protocol goes live. However, we anticipate immediate and considerable additional demand for STRONG to stake in StrongPool. Exchanges will be the most likely source; in turn, their source will be investors, founders and team. We are determining ways to contribute to balancing supply and demand, so all stakers and holders benefit.

can someone explain as an example if you hold 10 Strong for example how much roughly after the 100 day program ?

David: It is dependent on many factors, including how much ERC-20 is staked in different Communities, how much STRONG is staked in the StrongPool, and how much Signaling is done on a weekly basis.

Can strong operate with less than 400k tokens in circulation assuming that is required to vote for governance referenda?

David: One would not expect referenda proposals immediately in a brand new protocol.

let’s say the companies who want to use different chains as opposed to Eos, say eth or substrate initiated, tendermint..will Strongblock also be working on making those requests happen ?

David: Yes, and any others who have not figured out a way to compensate their nodes.

Guys if we stake an erc20 token other than strong, do we still receive strong as a reward?

David: ERC-20’s staked in the ETH Community get STRONG rewards. STRONG staked in StrongPool gets STRONG rewards. More Communities will be added. All will allow you to stake ERC-20's.

Stake ERC-20’s in a smart contract for daily rewards.
Hold STRONG in a smart contract for periodic (weekly+) rewards.
Participate in node selection to receive STRONG rewards.

So what’s the advantage of staking with strong if any erc20 gives strong rewards?

David: That’s not the model (the actual model is published in the latest Medium article). STRONG is the reward for staking in a Community with select ERC-20’s (we will only support a handful for staking upon launch, and does NOT include STRONG). ONLY STRONG can be staked in the STRONG pool, rewards are based on holding and Signaling, and are weekly +. Finally, you can’t Signal OR Vote if you do not stake STRONG in the StrongPool.

How will nodes be incentivized after 4 years?

David: Governance will decide.