3air weekly AMA, 9th February 2022 @5pm CET
This is a transcript from our weekly YouTube live AMA:
Anita Mlakar: 00:26
Dear ladies and gentlemen, dear participants of 3air’s weekly, AMA. Hello, and welcome. My name is Anita Mlakar, and we are live again every Wednesday actually, to tell you more about 3air, the project of bringing broadband internet to Africa.
Welcome to join us, of course and to get involved to participate. So please click like if you enjoy today’s AMA, write a comment, suggestion, how to improve our meetings, write your question in the chat, hit the bell icon to get notifications, subscribe to our YouTube channel, or invite a friend, we will really appreciate that.
Sandi Bitenc, the CEO of 3air will be with us today and we will be talking about the new block chain to which 3air has moved to and we will be answering your questions, but the most important thing is that 3air no matter which chain is moving on with the mission and the project of bringing internet to Africa, the project of connecting the unconnected, to banking the unbanked and giving people of developing countries equal opportunities. Only 20% of people in the African continent are active Internet users with less than 1% Having access to broadband. The lack of internet in this region has also a social and economic impact, including the way citizens interact with their government, with businesses and with each other.
So 3air’s vision is to make broadband connectivity available to the masses that is easy to access through its blockchain based platform. High speed and stable internet really brings unlimited potential for those under connected with a good connection, the world becomes smaller, and you can reach all the things within seconds, wherever they may be. Let us welcome Sandi Bitenc, the CEO of 3air.
Sandi Bitenc: 02:22
Hello, Anita. Hi, everyone.
Anita Mlakar: 02:25
Hey. Sandy, it is nice to see you again.
Sandi Bitenc: 02:28
Anita Mlakar: 02:29
It has been a very interesting week and the last couple of days. So how are you right now?
Sandi Bitenc: 02:36
I am tired. I am really tired. So yesterday, we had the announcement, and it was just, I was up till late. I went past 2am. I went to bed and at 6 I was up again and today all day some meetings and running around. And right now, I am tired. So, I think I will go straight to bed after the AMA.
Anita Mlakar: 03:05
Yes, I can just imagine. I can see in your eyes that you are a little bit tired but that is how it is. You had a very busy week and like you said yesterday, it was a very important announcement for 3air, right?
Sandi Bitenc: 03:19
Yes, it is probably the only thing that we were talking about, on each of the meetings and to everyone is just about the change. it is a big change. So, it is a big topic, then also and it is also a controversial topic, although it should not be to be honest, it should not be. so, the project that we are building 3air, it is not about building on Cardano. It is about connecting people in Africa and that is what the project is about. And it is still about that, and it is going to continue to go that way. And with the change, the chances of succeeding are just far higher.
So, we were trying with Cardano as long as it was possible maybe even a bit too long to be honest. And then it was the decision we had to make, and it was not an easy decision. Not at all maybe this is why we are also waiting longer to afford it. It is the decision you somehow, it is going to be tough, whatever you do, you need to take it at one point, but it is still it is tough to take and then you just maybe postpone it a bit always but for sure it was the right decision.
That is the most important message, that the mission stays the same. Actually, all the goals stay the same but if someone did not hear it yet, maybe you have written it down in our community and everywhere, but still Sandi, so 3air is moving to SKALE, right?
So, it’s not even to think about so we can think about if it was the right decision to go to SKALE that we can Think about but it was for sure the right decision to stop trying to build on Cardano because we weren’t capable of, we wouldn’t be able to build what we set out to build and we do have people that are waiting to be connected already and this is why I firmly stand behind it, the decision was really a necessary one. And again, this is not changing 3air at all. So, we are still on the same mission.
Yes, so 3air is moving to SKALE Network. We announced it yesterday with an official partnership and we were talking and refining the details for the last 10 days, two weeks, maybe something like that and it is actually really good what the guys are doing so the technology behind it is amazing. I dived a bit deeper into what they are doing, and it is another level of what we are seeing right now and also how they approach scalability, it is the right approach. So, it is kind of a sharding, but it is not sharding, the whole blockchain, but it is sharding the blockchain in regard to giving a blockchain or we could say a shard to each of the projects, so and then they are doing it modularly, so that everything fits together but it does not need to really be together. So, if one project or something like that just does not do how it should or something else goes wrong there. Everything else will still works fine. So, when you think about it, it is infinitely scalable, and I was really impressed when I saw that.
Anita Mlakar: 07:17
We will be talking about what is decision and the choose of this chain brings to 3air but first Sandi, we had a very interesting discussion in our Twitter spaces on Friday, talking about what do you have to consider when choosing another chain? And that was a very interesting topic. Also, so many questions, good questions. Maybe we should just explain, of course, we will give you the opportunity for the answers, because I can see that you have the questions, and I am looking forward to that too.
But first Sandi, just in a short message or short way. What is it? What is the most important when you are doing these things? When you are changing the chain, What do you have to consider?
Sandi Bitenc: 08:05
Yes, so at first, what we looked at is, what was not working on what you were trying to do before so then you already have something that you really need to take care of, and that you do not repeat the same mistakes but else it is it. So, it is about scalability right now, I think the most actually talk about scalability, because of the congestion issues that are happening on many chains, about the fees. Fees are really important for us fees were one of the most important things that we were actually thinking about when choosing a chain. And we will talk about fees a bit later, why we actually chose SKALE.
Security is important. Decentralization is important for us. EVM compatibility was really important because that was actually the most painful thing on Cardano. We were building on Cardano, so it is really tough there. It is not a lot of developers available, the tooling is still not properly developed, the documentation is lacking. The developer community is still a bit smaller. So, you do not know where to turn at exactly to get some help there. And our developers, as we said before, they are really good in EVM, and solidity based smart contracts. So, this is one of the things why we said, we just want to go EPM, the tooling is there, the community is there, documentation is there, the developer patterns are there. So, a lot has already been developed. So, we do not need to redevelop it.
The other thing is that the majority of chains are actually EVM compatible. So, whatever would for instance happened with SKALE, if by any chance, we would need to kind of really move again, I am not saying that, that we would, or we are thinking about it or anything else, not at all but if- you have a lot of blockchains, where you can just take the code, move it there, and it runs there, just without any issues. So, this is also why we were looking into an EVM compatible chain.
Then there are additional value that comes with it. Like, for instance, additional features that the chain may offer and then also going into, like the partnership that we have done with SKALE, it includes a grant, it includes common marketing, and sharing a lot of information and there are projects that are already building on SKALE, we got already introductions two really big projects there. And they are all kind of looking forward to working with us. And this was really, really nice to see.
Yes, this is all the marketing. Ruba is really thrilled about that. She will get some help there. And the partnership will keep coming that I can tell you, so I think that even next week, we will have another one, we were talking to another project on SKALE that is looking to roll out some from their products also in Africa, in the same countries that we are looking at and we are already aligning our potentially launching somewhere there together. It is so many benefits that we have gotten, like really in the two weeks that it is hard to say I am really thankful to the SKALE’s team.
What did we talk else about? did I forgot something?
Anita Mlakar: 12:38
If you did, we would tell it later. It is no problem. Sandi, now we were talking about how first community accepted the fact that you were moving from Cardano that was the first news that you are changing the chain and now you came out with the news, which chain is it going to be. How did they accept that?
Sandi Bitenc: 13:01
I think in general, it was really well accepted. So, there is a reasoning behind it. It is not that we just chose a random chain, and we went with it and no chain is perfect, to be honest. So, there is always something that you can find about that maybe it is not really the best. But all in all, what we were looking for, it is there, and we think we have really made a good decision going with SKALE, but it was accepted pretty well. Of course, there always be some people that will not accept, whatever we do because it is just not Cardano, we know that, and it is just how it is. I am really sorry, we wanted to build on Cardano, it is not working for us.
As again, as I said, the project is not about Cardano or SKALE, it is about 3air and It is about connecting the people and how SKALE can help there is, I mentioned fees. So, the really good thing on SKALE is that they are actually really zero fees. So, the end user will pay zero fees for transactions. So, you can go and make as many transactions as you want. You will never pay a dime for making a transaction and that’s kind of hard to beat, right? So going below zero, it is probably not going to happen. So, I do not think the chains are going to start paying people to make transactions. So, we thought like, “Okay, zero is the best we can get”. That is really a good thing, and this was really important for us because we are going to Africa.
So, in Africa, actually every dollar really counts. So, if you just really need to go on a blockchain platform, you need to make a transaction and then the cost of the service is maybe $30 but you need to pay $40 for the transaction fee. That does not make any sense. So even $1 or $2 would probably be a high fee and we do not want that. So, it is effectively zero fee.
There was also a question, how can it be sustained? And it is because a project actually pays a renting fee or a yearly fee for the blockchain. So, there are the fees included and we actually got those also for free from SKALE. So, thank you, thank you SKALE for this. So, we are running our chain absolutely free of charge and there was also a question for those that are a bit knowledgeable, they know that if there are really low fees on the blockchain, hacker scum, and then just they spam, the whole blockchain and congested to the end, because if there is no fee for a transaction, you can just go and post like millions of transactions one after another, and then everything actually stops. So, each chain has its limits. We have seen that, for instance, with Solana lately, because they really have low fees also.
So, there are a few prevention mechanisms here and one is already on the notes, and we can set those parameters but the other one is actually that, you still need to pay a gas fee, but it is for free. So, you need to have a token that you get for free and with that one, you actually pay for a transaction. So, we are actually giving and pushing people that are coming to our platform, we are giving them the token, sending them the token for free and then they can do the transactions. And if there comes a spammer, for instance, we stopped sending him the transaction tokens, so and then he actually stays without them, and he cannot buy them anywhere. So, he needs to stop, he will not be able to send any transaction. So, in that regards, it comes down to identifying the spammer and just not giving him anymore, they call it SFUEL token.
Anita Mlakar: 17:37
Very important issue, security. So, thank you for explaining that. There was a lot of questions also in the community about that. So, thank you for the good answer.
Now, another question that I am thinking of is, why actually someone decides to invest in a project, is it because the project is really good? And he or she believes in it? Or is it because it is on a chain that they like, or support, this is a very interesting issue, because you are really trying to make a white paper and talking about project, discussing it. Considering all the facts and everything really doing a good thing, trying to change something and if someone is supporting this project, just because it is on Cardano, then you do not need all this, then it is enough to be on a chain. This is very important to support or to have people on board that are really supporting the project, because it is good, and they believe in it. So that is something that is in discussion also right now in our chat, are you with it? Because you believe in 3air and the project or only because you like the chain? What do you think about that?
Sandi Bitenc: 18:54
Yes, it is more a philosophical question. I am not reading the chat fully because if I start reading it, I will probably have trouble concentrating here, I cannot do two things at the time. So, it is an interesting question and there was a nice discussion yesterday on a call. I do not remember exactly which one it was, but it was one of our bigger calls and they were talking a bit about tribalism. And there is too many of those groups and they just say our way is the right way. The truth is usually somewhere in the middle, and they are probably two groups like the Bitcoin maxes, and the Cardano maxes’ and maybe Ethereum maxes’, I do not think they are really so much Max’s and not seeing anything else.
Each chain has its purpose, and each chain has its value but investing without thinking about anything else, just because somebody is building on a chain and just shoving money into it. That is for sure not a good thing. So, I do think that people should be investing in the things that they like. And, of course, if it is done also on their chain, it is the better but now as for instance, in our case, it is not that we wanted to do and go away, we really wanted to build on Cardano, but we just cannot and once we moved, it does not change the project. I am repeating myself again, it is what I can tell. what I can say about the question that you raised actually.
Anita Mlakar: 21:03
Yes, it is either you change the chain, or you stop with the project, and you have decided to go on with the project and this is really important. Sandi, there are some people actually interested about stepping out, moving away from the project. So, you also today posted about the refunds, the document about the refund.
Sandi Bitenc: 21:29
So, we posted the full pre-sale report with all the detail to what has been raised, what has been actually spent, and how the refunds would be and just to make it clear, we do know that the changing of chain is a big issue. That is why we said we will offer refunds, it is not really necessary for us, from a legal perspective to do that but we do think that we should offer it, and we are offering it at the same conditions, as, if we would stay on Cardano, the project would stop now, we would not be going on with it.
So, it was like stopping it, or going forward with it. So, if we would stop it, the conditions would be exactly the same, we would give everybody the chance for refund, we would actually give everybody a refund. And it would be what came in and minus what was spent and that is the money that is left, that goes to the token holders. And the this is how we have done it now.
So, it still can happen that everybody will come and will say I want a refund. And as it is done right now, that is the only way that we can actually refund everybody. So, it can happen, we did not say we will only refund 50% of the people. We will only refund 10 people or whatever, we did not set a limit, we cannot say set a limit. If we are offering refunds, it is for everybody and if we want to offer a refund for everybody, it is the money that came in minus the expenses that were made, and the rest is a refund. And we were pretty good with the expenses. So, we spent the way less than it was actually predicted at all spent.
There was a chart, a table with all the predicted expenses published way ahead and we did not spend even half of what we said we will spend so I think in that regards, we did really good. And also, what we did with the money, it does not make sense. So, money that was spent for marketing was spent really good our return on the money spent in marketing is higher than the average. So, I think in that regards, we did good, and we are not forcing anybody to go out. We are still the same project, we are still going the same way. Just another chain and everybody is welcome to stay, and the token will be released, and the platform will be done and people in Sierra Leone will be connected, and I am pretty sure that within the next week or maybe two, another country will be announced that I am pretty sure. so, we are really deep into discussions on that one actually pretty close to signing a really good deal, then we are so much back on track that even far better than where we started off and what we set out to do actually.
Anita Mlakar: 25:02
For those sticking with the project, I saw someone was writing down that now it is time for growth, to start doing something, you already said what will be happening, So this is the way, now you can actually see, where you are at the moment when all of this goes around, and then you can also start really building on a project.
Sandi Bitenc: 25:30
Yes, exactly. This is it. And unfortunately, it is not up for discussion. So, this is how the team decided that we are going forward with. It is fair to offer refunds, if they are offered at the conditions that were set out in the beginning. This project is going to be amazing, what is happening right now, it is just going to propel it to another level. So, everybody is really welcomed to stay.
Also, just to make it clear how we also do it. So, we said that every refund that we are actually giving. So, the tokens that were bought with that refund in the beginning are going to be spread out to the remaining token holders. So, whoever stays will get from the people that go out and take a refund we will just give the tokens to them.
Anita Mlakar: 26:31
Okay, on the other hand, Sandi, people also, who are maybe interested in doing business or investing in the new chain can have the opportunity also to join, will there be that opportunity?
Sandi Bitenc: 26:48
Of course, we are opening up a new presale round, it is going to be a quick one. So right now, we are in the process of moving everything over we will be minting the token. So, the TGE will be a bit sooner, and then the DEX listing. So, the TGE, we will do the TGE just when the version 2 of SKALE comes out. So, we want to be just out of the box compatible with version 2 of SKALE. So soon after version 2 is actually out we will meant the token, we will put up all the smart contracts for vesting and everything, the minting policy, so everything is really transparent. And the token that have been bought already will be locked up. So, you will be able to see them also in your presale app and then the public presale opens up again on 31st of March and will run for one week. And then it finish next week. It is going to be Wednesday when it starts and finish and then on Monday, next Monday in April, we are actually listing the token. And we already know where we are listed but that is going to be another partnership that is coming up, I think.
Anita Mlakar: 28:15
Sandy before going to the questions, is there something else we should add at this first part of today’s AMA? Did we forget something maybe?
Sandi Bitenc: 28:26
I do not know if I remember something. I will let you know. Okay.
Anita Mlakar: 28:31
Okay, now we have a lot of conversation going on a lot of good questions coming in. So, thank you for being with us for being active. And Sandi, we will also give today 1000 tokens away, right? For those of course who are staying on the project and that is an important thing. So, Sandi, here is a question from Nuno. Let us see. So SKALE are going to make us stronger. Can you quantify the difference?
Sandi Bitenc: 28:59
No, I cannot quantify the difference, but it is like not being able to build it and being able to build it. So, it is like zero or everything. So, it is in that way, and there are additionally, what we forgot to talk about is also something else so we will be integrating our own fiat onboard and offload ramp and that is something that is missing, I think really much missing in the blockchain space. So SKALE has a partner. That is one of the bigger fiat onboarding ramps and offloading ramps in the blockchain system. So, the guys really know what they are doing, and they have it all set out with API’s. So, if we want to, we can actually integrate, like half an exchange in our backend, just in our own project. So how is this going to look like is, a user will come to our platform, he will be able to log in, he will be able to do the KYC there because we are giving out the internet. So, when you come, and you want to have internet access you always need to identify yourself. That that is not happening anymore, anywhere in the world. So, we need to do the KYC, we will be able to do the KYC. And with that KYC with the same KYC, you will also be able then to actually take your credit card or your bank account or any other means of payment, there are a lot and just transfer the money onto our account, and at the same time getting the exchange into our token.
There are also possibilities to provide some custodial wallets if needed if somebody needs it. And I know that there are a lot of people in the space that are like, not your wallet, not your keys, not your funds. So, I am also in that thinking, but I also know that the majority of the adoption will come when there is a no brainer about this. So, there’s when people do not need to think about their private keys, and I think the most scams and losses of funds still happen because people cannot deal with their private keys. So, they either forget them or lose them or give it to somebody who they should not give it to. So, there will be an option to circumvent that if somebody wants to. We want to really make it easy for people to onboard.
I think that the main adoption of blockchain is coming, when you will not be even thinking about it, you are using Blockchain, you will just be using an app, that is going to be really cool, and awesome and it will give you so many advantages and it is going to be run on a blockchain, but you will be able to use it as a totally normal app without having to know details about blockchain and crypto and so on. So, this is the way that we really are thinking that we want to go, and that is a big step also. So that is a big advantage that moved us also closer to SKALE. So, zero fees, and this fiat onboard and offload ramp that we can do pretty easy in our backend, and then it goes the same way also, so you have your tokens in our backend, your wallet, you can actually come to our app, and exchange it to fiat and get that money back either back on your credit card or your bank account. It will work.
Anita Mlakar: 33:11
Okay, now, maybe I know you have talk, you did talk about security before maybe I did not hear, maybe already answered in a way this question now because I was reading, all the questions and going through the comments. And now that you are on SKALE network, will you still be able to achieve secure online IDs? Is the question from create it with Michael.
Sandi Bitenc: 33:33
Yes, of course. So, there are a lot of things out already. We are already looking into some solutions and to be honest, first of all Atala prism, it is Cardano based and it is an amazing project if this comes live, it is actually chain Gnosis, you do not need to use it on Cardano, you can use it on any other chain. So, we could still integrate with Atala but there are also the standards are out for the deeds and verifiable claims. So, I think we can also start building this our own it is actually all those even Atala is saving that data on off chain. So, you cannot store really private data on chain. Once it is on chain, it is there for good. So, whatever happens to it, if it gets hacked, if somebody even if it is encrypted, if the encryption at one point gets broken, it is going to be there. It is going to be there forever, and I do not think that anybody wants their personal information really there that can potentially somewhere in the future, get disclosed, the encryptions broken and so on, and then you cannot take it off anymore.
So that is why all those data are always kept off chain, either on the user device or in some cloud services, there are many options, how you can do it. And then on chain, you just kind of link to this data. And this is how you then verify it. There are a few projects that are doing something similar already and it is also not the most important that we really just start with this. So, this is for sure, a feature that we want to enable pretty soon, and we will be working towards it, but we can still do it the traditional way as we have done it before. And then just later on switch to decentralized identities.
Anita Mlakar: 36:03
Here is a question from David. So, could you resume last and next milestone in easy way?
Sandi Bitenc: 36:13
So, we are a bit delayed. That is for sure. So, we will be delayed for about two months and the label will mostly, let us see, what happens with opening up a new country. So once how fast we can get that funding because the blockchain platform part, we can actually catch up a bit in time, so we should not be much delayed but else what has been done till now, we cannot take everything that has been done till now and just move it over but in programming 60% of the work is actually done before any code is actually written. So, it has done in to research to think about everything and to put to or make all the flowcharts and so on. Once you have that the coding is usually the easiest part and that thinking for sure, we can mostly take and reuse it in what we are doing here right now.
Anita Mlakar: 37:25
Okay, we do have this question about refunds, Sandi, Exactly when will the refund take place in the original token?
Sandi Bitenc: 37:34
So, we are open now for two weeks for everybody that wants to official refund to send an official request, it needs to be sent to our email address, email@example.com, There are the instructions in the paper, that article, that we publish in our doc page and then so the refunds will be paid on the 28th of February.
Anita Mlakar: 38:12
Thank you. Pete has a question, how long will development period be approximately before customers on boarded?
Sandi Bitenc: 38:21
So, we are thinking that first customers will be on boarded in Q3, latest Q4 In this year. So Q3 is our target now.
Anita Mlakar: 38:36
Okay. Miran is saying, I am staying with 3air, but I am not happy with chain choice SKALE is too centralized for my taste. Is there any plans, I think to remedy that, or is that by design?
Sandi Bitenc: 38:55
That is a really good question for SKALE, and we will try to bring somebody from SKALE on one of our calls. There are some things going on right now in SKALE in regard to they are changing the requirements for how many tokens need to be staked for to be able to run a validator. So, I think then, things are going to start opening up a bit more.
Anita Mlakar: 39:23
Okay, this question is something that you have already answered in a way the scheduled launch date remains unchanged, or will the calendar have to be adjusted because of this new change?
Sandi Bitenc: 39:34
As I said, we are about two months late because of this. I think in a month or so we can make up in encoding because it is going to be easier and faster right now, but the new roadmap is up on the docks and we also published, already updated the white paper and the updated white paper was published two hours ago or something like that. So, it is in there.
Anita Mlakar: 40:09
Richard is writing, Can you explain the following? There is a current offer to all participants in serious aid to extend token vesting start for 12 months.
Sandi Bitenc: 40:21
Yes. So, if anybody wants to extend the token vesting for a year, then we will offer them 10% more tokens. It is pretty straight forward. So, what you bought up until now and we will provide a, a button for it in our presale app. Just not right now. That offer stands up until the end of March. So, we will provide a button, you will be able to actually click on it and accept the terms and what this means is that will give you 10% more tokens, and the tokens will get locked up for one year or more.
Anita Mlakar: 41:12
Richard, thank you for the question. There are very interesting ones. Is there a minimum amount of people that should stay in order to continue the project?
Sandi Bitenc: 41:25
Yes, of course, if now three quarters of people say they do not want to do anything with us any more than we will ask ourselves also are we actually the ones that should be running this and then we will see but it could be possible that kind of too many people say we want a refund but just to be clear. We were asking about refunds, none of the big investors actually said they are going out. Some said that they will see what happens with opening up new countries, and what the deals are and what the partnerships that are coming. And out of 500 or 600 buyers, actually 48, were asking for a refund, and not even those were all saying I want really straight up a refund. So, I do not think that this is going to happen that we are not going forward but if for instance, that would happen, everybody gets the same refund. So, if we would see like, by the end of the two weeks, too many people are getting a refund, everybody else that is not in and will get the same refund. So, it is not necessary to go up front and just go for a refund, it is not going to make a difference at all. So, if we close it down, you will get the same option for a refund as right now everybody else.
Anita Mlakar: 43:16
Okay, here is another question, is the staking system still the same?
Sandi Bitenc: 43:21
The staking system is still the same. We will try to pull it a bit forward. We are looking into ways how we would make it available to the people with vested tokens. So, this is not 100% done yet.
Anita Mlakar: 43:44
Okay. Let us go to another one, Will there be a DEX on SKALE and to which coins can we swap to?
Sandi Bitenc: 44:01
There will be a DEX on SKALE. A really big one and I spoke to them already. I do not want to spoil any announcements here. It is going to be known pretty soon, what is it about, but it is going to be really nice DEX. What tokens will you be able to swap to? I do not know but it is a Ethereum compatible chain with zero fee swaps. I think they will get really good traction pretty quickly. So, there will be a lot of choice and do not forget that you can always swap it to some stable coin and then offload it from our back office. That is also always a possibility.
Anita Mlakar: 45:02
Thinking about the project and all the good that it brings, can I sponsor an annual internet prescription for a kindergarten school or Orphanage?
Sandi Bitenc: 45:12
Wow, that is really nice. Yes, we would love that and there are already about a bit more than 1000 schools that are mapped out from GIGA, a UNICEF project that are in our range right now in Sierra Leone. So, whoever would like to sponsor something, I will give a part for the sponsorship from my side also. So yes, I will just join you in that one.
Anita Mlakar: 45:50
Okay. Look at this one, provide a valid wallet address of your choice either to USDT TR20 wallet or the asset you paid with? How will this work?
Sandi Bitenc: 46:06
Yes, so you can choose either if you paid it in ADA, you could get it back in ADA. If you paid in with Bitcoin, you could get it back with Bitcoin or you can just say I want it in USDT, but then we will send it out with USDT on the Tron network, just because of the fees, so the fees stays low, but it is your choice.
Anita Mlakar: 46:32
Lawrence Arabia is asking, when will the token be tradable?
Sandi Bitenc: 46:36
So, the date is 11th of April. So, this is the day that we are thinking about and if everything falls in place, that should be it.
Anita Mlakar: 46:52
Okay. you did explain about that but still Sandi, to explain it again. If a few people are asking for a refund, why are you returning 50% of what they gave?
Sandi Bitenc: 47:05
Because else we are taking away from the people that are staying and we do not know how many people will actually come, many things can happen in two weeks. So, we need to be able to refund everybody, if everybody wants a refund. So, I cannot say, I will give you 70% back or 100% back and then I can get this to the first 50 people and then the 51st cannot get anything anymore just because of this. So, this is not working, and this is not how we are doing it. And even if a small percentage goes out, so the investment was as a whole. So, if we give back 100%, we are actually taking away the value from the people that are staying in. so it is two ways why we do not want to do this and we think that we cannot do this, and the first one is already enough. So, everybody needs to have an equal chance of getting a refund and that is it. And if we give more than 50%, not everybody is getting an equal chance of getting a refund, because then it is a race who comes in first. No, it is not happening. So, this is how it is.
Anita Mlakar: 48:34
Okay. What is utility for the 3air token from the day of the launch on SKALE? And what utility will follow later, will governance in the protocol be supported?
Sandi Bitenc: 48:46
Yes, so we will launch as the majority of tokens without any real utility. There will be some staking options available, the pool where we are launching on the DEX will give you additional rewards in regard to some other tokens. So, there will be some incentives also to provide some liquidity in the pools and so on, but the majority of tokens actually do not have any utility, the first moment that they launch. we will need to wait for the platform to be up and running for the token to have the utility and there will be also a governance utility to the token. Yes, it will be. it is just I do not see what we can actually put up for some voting and decision making before the platform is actually live. So, I do not think we will be doing that upfront, but we are already looking into how this will work and what is really nice is that SKALE is going to be fully integrated with the version 2 with Gnosis Safe and it is already working with Snapshot. So Snapshot is right now the most used voting system for in crypto, for tokens, and also some really big projects are using it. And then you can connect actually Snapshot with Gnosis Safe to have on chain execution of the voting. So, we are looking into this.
Anita Mlakar: 50:39
Thank you, Sandi. Is there something announced about merchandising, or will it be?
Sandi Bitenc: 50:46
Yeah, we are coming up to a final decision of the T-shirt contest so the T-shirt contest will be finished by I think on 13th of February and we also have some other designs from some professional designers, but to be honest, I do like a few of the designs that are coming from the community some really had some good ideas. So, then we will take the decision what we actually want to print and no worries, everybody will be rewarded from the community that participated in the T-shirt contest and then we will be printing the T-shirts so this will be the first merchandise. so, I think the T-shirts should be ready in February.
Anita Mlakar: 51:46
so, about community Sandi, everything stays the same. We are on telegram discord and on Twitter and Created it with Michael says, I wanted to join discord but could not. Is there something special that he should know? there is a normal way to it, right?
Sandi Bitenc: 52:03
No, it is a button on our website, you can click so then you need to have install discord. When you come onto the channel, you just need to read a bit the instructions because you need to go through some rules first and you need to accept this, and I do not know if there is some tasks that you need to perform or click some icon or something like that. I have not done this for a while right now. So, I do not know how exactly it works, but it is possible to join and if it is not, please let me know if there is something wrong and we need to we need to go and look into it a bit.
Anita Mlakar: 52:44
Okay, here is a suggestion I think, hope you will give the people that stay, an additional 3air robot NFT Can you arrange that, Sandi? Thank you.
Sandi Bitenc: 52:54
Yes, so the people that stay will get the tokens from the people that leave, and we will give you NTS, for sure. We will reward everybody who stays with us and gives us the trust also in this hard times that are here right now.
Anita Mlakar: 53:12
Okay, so now I did went through the questions. I am sure there will be some more coming up but Sandi because we said we will give away 1000 tokens today what is important is that of course those tokens go in the hands of someone who is staying with the project right? So maybe you should write it down I am staying or something that we know who to choose and on the other hand for those who did not maybe received it yet as a reward so you should say I am the one, so that we will know.
Sandi Bitenc: 53:43
That is a good idea!
Anita Mlakar: 53:46
Okay, just write it down because we will be choosing the one who gets 1000 tokens now in the next couple of minutes. We do have some more minutes to end this AMA, but it is really nice to read also people supporting the project it is really nice feeling staying with the project supporting it even talking about sponsoring some internet for schools and stuff like that and that is something that really brings out positive sides of everything that is happening right now.
Sandi Bitenc: 54:22
I was really amazed on that, and I would love if somebody wanted to sponsor a school or- we will give you the sponsorship at our cost that we are actually paying for the internet.
Anita Mlakar: 54:36
okay, we have a lot of them writing, that they are staying so we do from which one to choose, from whom to choose. And thank you for your responses and it is okay if you should write down that you did not receive it yet. I mean we will give the advantage to those who did not get the reward yet or maybe you are just lucky anyone will get it again. But someone said Sandi, before I was reading that you really are tired, they see you really are tired.
Sandi Bitenc: 55:15
I slept four hours only and the few days now I really did not get much sleep. So, I need to get some good night’s sleep.
Anita Mlakar: 55:26
Yeah, Miran is saying, I am staying with 3air but have questions about SKALE. You did ask some but Miran here is also the opportunity to ask questions, no problem. So just go ahead. You can do it now or in our communities. Lawrence is saying let us go so yes. Sandi who will be choosing the one today.
Sandi Bitenc: 55:46
You are choosing today. I was choosing the last time I think so and you have the good idea.
Anita Mlakar: 55:52
This is so hard because I have to choose now someone, thank you for helping me, writing down that you are staying. Well, Richard, you say that I am on fire tonight why Richard? Really?
Sandi Bitenc: 56:10
Anita is always on fire. I would not be lost without you. Did I tell you that already?
Anita Mlakar: 56:19
Thank you very much. That is really nice.
Sandi Bitenc: 56:23
It is true.
Anita Mlakar: 56:24
It made my day. Thank you, Sandi. There is another question just a minute. In the meantime, when I will be choosing the one, What about wallet Connect? Or just Meta Mask?
Sandi Bitenc: 56:40
Yes, that Wallet Connect is actually already working, it is just we need to put in the button. So, it will be there. I know that Coinbase wallet is working even with the same link because we had some issues in the beginning when somebody had a coin based wallet installed. He could not use the Meta Mask, so it throw out some strange errors. So, then we looked into it, and now also others already implemented. So, we just need to put up a button, but it is no rush in this. So, we want to make it right and so we will take it a bit slower. And we will redo the presell app so that it is working really well and the easiest to use as possible.
Anita Mlakar: 57:29
Okay, I did choose someone.
Sandi Bitenc: 57:31
Yes. Who is it?
Anita Mlakar: 57:33
I am not sure if he or she got it, I think is he. He got it already but still. It is Itinerantur Bosniacus.
Sandi Bitenc: 57:46
Congratulations. I know that we have him already and he is really following us, and I spoke to him also on Discord. So, I will contact you in discord and you get 1000 tokens.
Anita Mlakar: 58:02
Yes, and he also wrote down, I really believe this project will provide benefits to all of us. So, we should support it with all forces.
Anita Mlakar: 58:17
No, you do not. Not again. I will buy you some other T-shirt that does not have Star Wars, right? Star Wars?
Sandi Bitenc: 58:27
Anita Mlakar: 58:28
Okay. Oh my god. Okay, now there are two or one more minute to go Sandi. Just to see if there are any more questions. No, there are a lot of saying congrats. Thank you so much. As somebody saying that you should really get some sleep Sandi and now, I am sending you to bed to.
Sandi Bitenc: 58:51
thank you everybody who is believing in us, and we are here to do the right thing and we will change the world. We will connect a lot of people to the internet we will make their lives better different and also for everybody who is staying right now with us. We will make it up to you. We will.
Anita Mlakar: 59:18
A really great ending of this AMA Sandi. I will not say anything more. Thank you for all the answers. Thank you, guys, for all the questions and another opportunity will be on Friday on our Twitter spaces. And then again next Wednesday, here on AMA looking forward to that. Stay healthy and let us go. Sandi, get some sleep.
Sandi Bitenc: 59:40
Bye. Good night.