List of questions from Live’s Kryptoekipa on YT channel
We have prepared for you questions and answers from the last Live where we were as guests.
- How long have you been in crypto? Favorite items? Do you have Bitcoin?
In cryptocurrencies, we have been working since 2020, like everyone else, we had single episodes in previous years that ended as painful lessons, thanks to which we did our homework.
2. What do you do on a daily basis?
Adrian: I have been running my business since 2013, mainly in the sector of auditing financial statements, I also had the pleasure to cooperate with companies from the international transport sector and in the tax sector. Which allowed me to acquire appropriate knowledge both from the “paper” side as well as in the field of building relationships, cooperation and international partnerships and, above all, effective team management.
Michał: full stack web developer, has been creating web applications for 6 years, experience in solidity smart contract, .NET, Angular, React, I have been working in crypto-related projects for 1.5 years.
3. How many people does the team have? Who is currently on the team? What are you doing? Is this a team with experience? How your paths crossed?
Adrian: We have family ties with Marcin and Michał, we have known each other for several years. The very idea of creating Smart Electrum was born at the beginning of the year. The subject of the project was originally discussed by me with one of our current Advisers — Damian Gontarz, with whom I have known for a total of 11 years. After the initial positive reception of the idea, we slowly started planning everything, listing the advantages and disadvantages, determining what would need to be changed. We originally wanted to create an energy trading platform. With time, we realized that the platform itself is not able to fully guarantee the stability of the project. Unfortunately, the implementation time would be too long. We have additionally decided to implement a platform that will enable cryptocurrency payments for purchased goods. In addition, we want to enable our users to organize charity. The next stage will be the introduction of the previously mentioned platform to the trade with energy. All platforms will operate in one ecosystem.
Michal as a technically responsible person — we already know each other for about 10 years, we are in close relationships, because we are related to the family. So for me it was the first person to whom I approached with cards, a pen, and I asked if he saw it and how did he see it from the technical side.
Tymek is a person who works with us from the community side, we know each other for about 3 years — we have realized some interesting investments together, Mateusz is his very good friend, they know each other for 12 years, so the choice of people for the community has become obvious — they understand each other without words.
Marcin is the person responsible for our “creativity” in design, we have known each other for about 5 years.
So our foundations can be said that is based on the family, people close to us, in whom we fully trust, we know each other for a long time, we know what we can expect from ourselves and we understand each other almost without words. Everyone can count on everyone, I believe that such values and such a sense of peace “in the back” are extremely important for the project.
4. Will I be able to buy electricity from you?
We do not sell energy, we create a solution that will mediate transactions and enable the settlement of these transactions on the blockchain network.
5. How the energy trading platform is to function?
At the very beginning, we must say that not everyone will be able to use this platform. The platform implementation will depend on the infrastructure in your area. It can be an adapted housing estate, one block / office building. With time of technological development, it can be expected that more and more these adapted places will be.
Below is an adaptation example:
A resident needs to buy energy as part of a housing estate where the developer has established an appropriate installation (he has a virtual warehouse or an actual energy warehouse). Then such a resident can log in to our platform thanks to the received login and password. The data for the account is provided by the developer or energy supplier. After logging in, you can top up your account. The payment unit for us is the settlement token, which is an additional token. The main token, or more precisely, its appropriate amount will allow you to use the platform. The settlement token is created when the account is topped up. It will be used to transfer funds to the second account. The settlement token will be burned so that the seller can withdraw the funds. Depending on the available infrastructure, the customer will have a choice of what origin this energy should be of. The customer also chooses from which person he wants to buy this electricity.
6. Will I be able to buy electricity cheaper?
Yes, it will depend on the infrastructure in which the solution will be implemented and whether it will allow direct trade within a closed circuit or will it work under a contract with the power plant and the conditions that the power plant will impose on its customers.
7. Apart from the energy sector, there will be two more platforms?
Smart Electrum, in the form that we present today, is to ultimately release products that will enable international adoption, we do not limit ourselves here only to “Poland”. In the first stage of work, we want to provide users with a platform that will allow you to sell and buy products for crypto and an advertising platform for fundraising — as we know, there are many people who need help in the world, a great example here is the story of Knight Nicholas. Thanks to the kindness of the people, we managed to collect the necessary amount. I believe that in the crypto world we need a place where people can help each other selflessly.
Smart Electrum Marketplace will be a decentralized market where products and services can be displayed to retail and business customers.
Smart Electrum is aimed at businesses and individuals involved in virtually any type of transaction.
Summing up, Smart Electrum would like to change the market by introducing elements of real value to it, so that each token holder can experience the feeling of having something more — a digital record, a special solution that will be able to change the world. Ultimately, the project must have the proverbial legs — we cannot base on one product and base any success or failure on it, which is why we introduce risk diversification by introducing products that together will create a certain type of ecosystem.
8. Why blockchain?
Using blockchain technology will keep anonymity and international reach. On the example of fundraising announcements — the name and surname of the donor are always displayed with an ordinary transfer. There are countries where there is a need to account for fundraising contributions. Then such a donor may transfer the donation, and then decide on his own whether he will settle the payment. If regulations in individual countries impose the necessity of KYC for donors on the person announcing the fundraiser, this will be indicated at the announcement and in this matter the person accepting the donation decides whether and what to do with the donation from the person who will not be verified on the platform. People wishing to remain anonymous will have to take into account that their payment will be refunded.
9. Is there a minimum amount of entry into private phases?
At the moment, the minimum input amount for private phases is not required.
10. How is it legal? Where is the company registered? Will it be possible to use the platform in the light of Polish regulations?
The company is registered in Poland. Both the Polish government and other European countries are planning or have already introduced the so-called virtual prosumer and virtual warehouses, these warehouses are ultimately or are to be co-financed by subsidies in order to expand the infrastructure. The expansion of the infrastructure will significantly increase the adaptation of our solution.
11. Where will the electricity it produces and not use be stored? Just like now, it will be sent back to the power plant or sold on immediately so as not to incur any fees?
Storage, depending on the infrastructure, will take place in warehouses or virtual energy storage.
12. How many years do you envisage for the development of the project until an ordinary Kowalski will be able to buy electricity from a neighbor cheaper?
The beta version will be tested in 2022. If we manage to acquire all planned partnerships, I think that the product implementation will be possible in the first half of 2023.
13. What will the distribution look like, why a token, why two. For what purpose it is supposed to interest the average user?
For this particular case of the platform, it will look like this: our main token will be the fuel for the ecosystem, which we will create together with a settlement token in exchange for the main token. By allowing application hosts and participants access to use the platform. If the app host doesn’t have enough main tokens, it won’t be able to access the platform. A commission will be charged in the main token when advertisements are issued.
A settlement token, which is bought and exchanged with fiat currencies to complete individual transactions. The app host uses root tokens to attach its clients. Basically, customers pay money for a settlement token which they then sell for electricity.
Settlement tokens are generated when required, used, and then burned after use. The price of a settlement token is tied to the local government’s fiat currency and energy costs.
The settlement token price should remain fairly stable as it is tied to the currency issued by the government. The settlement token will maintain a constant exchange rate between local electricity prices and the main token valued on the exchange.
14. What stages of the sale do you plan?
The seed phase — has already been completed, Private A — registration for whitelist has already been closed, Private B and Public Sale — information will be announced soon. 6,000,000 tokens were allocated for each phase, the total amount from the sales phases is 600,000$. The total supply is 100,000,000 tokens, on the day of listing there will be about 5% of all tokens in circulation. The main token will be an ERC-20 token, while the sales phases are carried out on the BSC in order to reduce transaction fees. The initial mcap will be 312.000 $.
15. Will there be a possibility of passive earnings?
Yes, we plan basic staking for 30/45/60 days on basic%. We also have prepared additional solutions for people who have invested in the project in the sales phases as a reward for trust at an early stage. Additionally, we want to implement the option of adding liquidity in currency pairs on our platform.
16. How will look the verification in the case of fundraising?
We certainly want to make every effort to ensure that people participating in the fundraising are aware that they are paying with people who really need help. We don’t want supporters to be used by cheaters. Summing up, we plan to do the verification, we will provide its shape and additional information in due time.
17. What network will fundraisers be held on?
The person setting up the fundraiser will be able to determine the pickup address and network by himself. This will allow the transaction fees to be minimized.
18. Private investors, venture capital, how much money do you need to raise?
At the moment, we have several private investors, they are people closer to us, from our environment. When it comes to venture capital — we have not been cooperating at the moment.
Regarding the sales phases — we’re talking about $ 600,000.
19. Marketing plan, do you cooperate with someone, an agency, how are you going to reach the companies that use the platform?
If we are talking about the last platform, i.e. related to energy. We are in constant contact with two people from the industry. We also plan to establish international cooperation, preliminary talks have already been started in March 2021. The cooperation will also enable this company to enter the European market.
If we are talking about a platform for fundraising announcements — apart from the planned marketing campaigns, I believe that this type of solution will gain publicity over time, because terrible things happen in the world every day, someone has a diagnosed disease, someone has lost their possessions, someone has had an accident, etc. — people who need help will want to use the maximum number of tools to reach as many people as possible who can potentially reach them, so they will also choose the cryptocurrency sector.
We also plan to eventually participate in international exhibition.
20. Will you be registered only in Poland?
We are currently a registered company in Poland, but we do not rule out that due to the blockchain industry specification, we will have to ultimately change the country to one that will be more favorable for us in terms of the conditions for further operation.
21. Will I be able to resell the electricity which I produce from photovoltaic panels? If so, what conditions do I have to meet and how much will it cost me to be able to use your platform.
It will depend on the infrastructure, if there is no adapted infrastructure nearby, we will not be able to help, but if there is adequate infrastructure, there will be a warehouse in the vicinity, it will only be a matter of signing a contract, paying the appropriate value to the platform’s balance. If there is no warehouse nearby (e.g. on a development estate) then it will be associated with signing a contract with the power plant.
22. If I am an investor and had neighbors with surpluses, could I become a node for your solution?
Yes, by using the subsidy, you could provide warehouses thanks to which the infrastructure would be adapted.
23. When do you plan on listing, which exchanges?
In November, we plan a listing on Uniswap, in 2022 we plan to enter two top exchanges.
24. Will you provide liquidity on Uniswap?
25. Which pair will the listing be in?
In pair to ETH.
26. What will the commission on transactions / announcements be allocated to?
It will be divided into 4 pools: the current activity of the project, a monthly allocation of 5% for the most needy fundraising, extra profits of Hodlers and burning tokens.
27. Who can become a partner?
Everyone, from an individual to enterprises, concerns.
28. What sets you apart from others?
These are solutions that have not been available on the market yet. The possibility of global implementation, we are not limited by territorial space, but by infrastructure. The simplicity of the solution, thanks to which the average person not related to crypto can also use our solutions by “buy / sell”, without the need to understand what is happening “behind”.
29. Do you have an idea for a bear market?
The platform will make profits regardless of the situation on the crypto market, the idea and operation of the project will not be disturbed even as a result of declines in the value of the token itself.
30. Do you plan to implement infrastructure from your own resources in order to increase the adaptation for the project?
Yes, we do not rule out such a possibility, but it will depend on obtaining appropriate funds that will allow for the implementation of such a solution.
31. What about the website, WP?
The website update will be carried out in September, along with the publication of the Whitepaper and the update of the Road Map for 2022.
About Smart Electrum
Smart Electrum will be a blockchain-enabled auction hosting and trading platform with the aim of markets of making auction hosting, price comparison and online classified adverts more efficient.
There are many people which need our help in the whole world, it’s time to open a “new window to the world” for them! We will create a platform that will enable fundraising in cryptocurrencies.