Geodb AMA Transcript

BSCNEWS Hosts GeoDB, a peer to peer big data sharing ecosystem. All questions answered by @sachablockc @geoffshep69 @Ziazia7 @anantsingh

By
BSCNews
on
April 18, 2021
Category:
AMA

Lola (AMA HOST): How're you doing? @Ziazia7 @anantsingh

Anant Singh: Doing great!

Zia Zia: Really good thanks and excited for what the future has for GeoDB

Geoff Shepherd: Excited to be here, looking forward to this !

Sacha: Hi everyone!

Lola (AMA HOST): I'm happy to have you all here.

Here we go!


Q1. Can we get to know more about you and your team? What are your roles and past experiences ?


Geoff Shepherd: Hi guys, I’m Geoff, I’ve been involved with GeoDB since early 2020 when I invested in a crowdfunding round.  I’m very interested in crypto currency and blockchain, and I got hooked on this project as I thought it was super interesting and a really good concept to reward people for their data.  I’ve gone on to invest further in the subsequent crowdfunding round, as well as purchasing Geo tokens through the crowdsales and on the open market.

I was really active in the community and the Telegram groups, and I was one of the first people to be chosen as a Geo Star when the team were looking for more engagement from keen members of the community.

I’m one of the community supporters, so I assist by answering questions, helping people out, supporting the team, and helping to promote the project.  I’m here today to support the team and represent the views from an investor and community member, so feel free to ask me any questions that you have and I’ll do my best to answer.

Anant Singh: Hello Everyone! My name is Anant, I am Heading marketing & community building at GeoDB | ODIN. Disruptive technologies have always been my passion, and that one of the reasons I was attracted to mining Bitcoin for a few days back in 2011, got fed up & erased it all (😖 - hurts more today). In 2016 a stranger managed to convince me to sell a conference ticket for 0.6 BTC (€350)! Since then, I have gone through a non-stop roller coaster ride! I am an active trader & involved with few crypto projects.

I firmly believe there’s a massive upside for BigData firms that embrace blockchain tech. What attracted me to GeoDB was the core belief of its founders & the team: Soon Customer data will no longer be owned by organizations but by each individual, represented as tokens on an identity blockchain. In the future the customer will grant access to others as required & will be able to profit from it.  Super excited to be here few days before ODIN launches on BSC!

Zia Zia: Hi I'm Zia and been involved in blockchain and cryptos since seeing this industry as major disruptor and coming across many exciting start ups/ventures on Seedrs (One of Europe's largest crowdfunding platforms). Since then never looked back and have a portfolio of investment in blockchain/digital asset companies.

GeoDb was one such start up and after reading the white paper, understanding goals and objectives I realised this has the potential to revolutionise how end users see and interact and value their data. My positive contributions on various social media channels saw me promoted as a GeoDb community star.

Sacha: I am Sacha, cofounder of Geodb and responsible for investors relationships. 

My background comes from Financial trading. I studied a Business Degree in Madrid and Stockholm, I have 12 years experience as Fixed Income trader and commodities for an American company. 4 years ago I started trading cryptos, then I got into the technology, and 3 years ago we created what is Geodb and ODIN right now. The team has growth a lot in the past years, We have around 30 team members. On top of that we have ambassadors, advisors, and collaborations all over the world. We have several PHds, a big mainly tech team and now growing in the business side area. 

My role in the company has been changing due to our fast growth, more focused in business development in the past, and now as I mentioned in the investors relationships, taking care of them. 

We are very excited about what we have built, we are full of strenght to keep pushing and make the company grow and build bridges between Big Data and blockchain

Lola (AMA HOST): Wow! What a privilege to have you guys here. I'm very sure coming together has been Great. Especially to Geodb

Q2. Can you tell us how staking works in Geos


Sacha: You can participate in our liquidity pool and yield farming to earn bonus Geo tokens.  Stake your Geo tokens and an equivalent value of cryptocurrency in the liquidity pool in exchange for LP tokens.  These tokens can then be deposited in the GeoDB geyser to earn bonus tokens.  The more you stake, and the longer you leave it there, the more you can earn.  Our last geyser had an APY of over 200%.  

We are planning to make the next geyser available on the BSC network very soon!

Lola (AMA HOST): This is really nice. Earning bonus ☺️


Q3.  From your website, I came across a lot of Projects can you tell us your aim working with them all?


Anant Singh: We believe that blockchain is about connectivity & building network effect. This is what we are aiming to do. For example, we now have different partners like AboutGoods, who collaborate to build value on generating data. On the other side, we have partners like Ocean or Chainlink, to which ecosystems we stream generated data. This is a network effect that is aimed at decentralization and bringing value for end-users!


Q4. What offer do you have for Geodb token holders?


Anant Singh: It is one of the most important aspects of keeping our token holders happy and making them see the value within our ecosystem. We have come a long way; the industry teaches you each day some new things that you can implement within tokenomics to make it attractive. Today Geo tokenomics is much better and irresistible than what it was before. We have a lot of things in the plan to award the holders. For example, we recently published our new tokenomics combined with ODIN. If you can read between the lines & not an emotional trader, then you can see the value we are proposing.

https://telegra.ph/GEO---ODIN-tokenomics-Update-04-06

Here I will try and give pointers: 

1. Geo reward system will be implemented in thousands of apps daaps. Anyone will be able to connect their app to ODIN and tap into the geo reward system.

2. ODIN DAO will buy back GEOs from the market, and 5% of tokens will be burned each time that happens.

3. With the launch of Geocash on BSC, you will need to harvest a particular amount of geos or buy them from the market to receive an award. This will make a Geo demand parabolic as each app/wallet would want to get geos asap to mine.

We also considered that there will be super new people to crypto and may not have funds to invest/buy. We make the entry to crypto super simple however they have to harvest those initial geos to make the app work. It’s a win-win, and this will help us keep the network free of fake accounts.

Btw, we recently bunt around 65% of GEO supply, so GEO’s max supply has reduced from 1B to 350m.

Lola (AMA HOST):This is really good. Having the Community in mind.


Q5. Before Odin will Launch, can you give us detailed information about it? How one can participate?


Sacha: We will be launching ODIN next week through a fair launch on pancakeswap.  There is no presale; it will be a direct listing to allow the market to decide the price.  We aim to launch on Wednesday or Thursday next week and provide full details of the exact arrangements across all of our channels once these have been finalized.

We expect that the initial listing price will be under $0.1, and the initial market cap under $1m

Make sure you have your BSC wallets funded and ready to connect to pancake swap; we expect demand to be very high.

ODIN applies a deflationary model to incentivize early holders

20% of all ODINs will be burned within 100 cycles

400K is burned in every cycle

where 200K is burned completely and 200K is returned to the holders proportionally

a dynamic tax between 4% and 12% is applied within each cycle

Token Details:

Data consumers pool 10m locked 12 months

Stacking and validators reward 30m locked 6 months

Company & founding team 10m locked 12 months

Treasury 20m locked 9 months

Liquidity pool 30m - locked liquidity

Lola (AMA HOST): Great. I think I'm interested in Odin. Can one earn by just holding?

Anant Singh: yes, If you buy and hold you will get the bonus through the cycles its pretty cool

Lola (AMA HOST): All right. Thanks Anant 😊


Q6. Can you tell the community how Geo Cash App works?


Zia Zia: The GeoCash app is straightforward to use.  Download it onto your iOS or Android device and follow the instructions to install it.  We don’t collect any personal data, so there is no need for registration or to provide your details or email address.  The app will create a wallet for you, and that's pretty much it !  You can then just leave it to run in the background of your phone.  The app shares anonymous data with our network (including phone model, operating system, your location, etc.), you’ll start to earn rewards in the form of Geo tokens and see these being credited to your wallet.

Anant Singh: Btw guys here is the download link : http://downloads.geodb.com/

get some geocash, its going on mainnet soon ;)

Lola (AMA HOST): Wow!

Is the app only for Geodb Holders?

Geoff Shepherd: Anyone and everyone can use it !


Q7. What's the Future plans of Geodb?


Anant Singh: We recently published an updated roadmap, showing all of the key activities and developments that we have planned over the next 12/18 months.

We will be launching the first version of the ODIN testnet in the next few months and aim to have the main net launched at the end of 2021.  The mainnet version of Geocash will be launching very soon, and this will be on the BSC network to allow our 300k+ users to benefit from the very low fees on the network.

V.0.1 of our GeoDB mainnet and GeoDB Marketplace are also scheduled for launch in H1 2021.

We will be rolling out further proprietary apps under development and providing additional ways for users to earn Geo tokens.  Geoscan (which enables users to scan and upload their shopping receipts) and Volta (a fitness / running app).

We will continue to implement further partnerships with key players in the data environment after already announcing our partnerships with Chainlink and Ocean Protocol earlier in 2021.  We have also designed our ecosystem in a way that allows external parties to connect their infrastructure and/or apps, which will increase the volume of data that we can receive and make our Geo token rewards available to millions of connected users.

And last but not least, we will continue to list Geo and ODIN on an increased number of exchanges, including top tier exchanges.


Q8. Can you tell us about Staking and validator's reward in Odin?


Geoff Shepherd: Anyone who holds ODIN tokens can apply to be a validator, and support the operation of the network.  The key role of a validator is to maintain a full node, check transactions, and generate and verify blocks according to the rules of the ODIN protocol. 

In return, validators receive a 12% APR of the subsidy in each block, plus 100% of the transaction fees paid by users. 

Holders of ODIN tokens who don’t want to become validators can delegate (or stake) their tokens to a validator.  In return, they will then earn a portion of the collected fees and inflationary rewards earned by that validator.

And all holders of ODIN tokens can also participate in the governance of the network.


Q9. Odin is launching in a week time, Can you differentiate between Odin Token and Geo Token?


Anant Singh: ODIN is the governance token for the network and is used for staking and paying fees and rewards for validators.  Data consumers also use the ODIN token to pay for any data they have purchased from the system.

The Geo token is used as a means of payment to reward the data providers who have submitted their data into the network, such as users of connected apps.

The ODIN Treasury will buy back Geo tokens from the market after data purchase transactions, and 5% of the tokens purchased will be burned.

ODIN will also operate a deflationary rebase system mechanism, and as transactions happen, a portion of the ODIN tokens used to pay fees will be burned.

We will shortly be issuing a more detailed tokenomics paper that explains all of the interactions between the two tokens and how they operate. 

Lola (AMA HOST):

Great.


Q10. Do share with us all the links that the readers can find out more and also follow the development of the project.


Geoff Shepherd:Odin 

Website

Whitepaper

Roadmap

Telegram

BLOG

Coingeko


Q11. Lastly, our favourite question in BSC News, do you have any alpha or juicy news that you can share with us today?


Sacha:Odin is going live next week. There is a high demand for this token as thousands of investors have been waiting for this moment. So this will be a crucial moment for anyone who wants to get some hands-on ODIN. We will leave no stone unturned to not only develop but to also market it.  Do check us out ;)

Regarding Geos, the exciting news here is that we have more centralized exchange listings going live in H1 2021. This will increase the liquidity and exposure of the token.

Anant Singh: https://t.me/GeoDataBlock/2244

Lola (AMA HOST):Great. Will there be Staking? And any plans on Auditing?

Anant Singh:Yes audit report will be out asap.

Anant Singh: All right. Thank you so much for this wonderful AMA @sachablockc @Ziazia7 @geoffshep69 @anantsingh  It was really a great one. Thanks for coming.

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