What did the community want to know over the past 30 days?
At AMPnet we are pushing forward with our endeavor of hitting $200M in tokenization on the platform by the end of the year. And that’s why in the past few months we have been truly busy working on a plethora of things: from onboarding our old and new clients by committing assets, to working on legal issues, ensuring our platform is thoroughly polished, all the way to adding new features.
So far we have committed to $129M in tokenization. In addition to working with our already established clients, such as Greenpeace Greece, WESPA Spaces, and Hortilab, we also hold agreements with PB Group for a $50M+ real-estate development to be tokenized through us in the following months.
A dozen new businesses are calling, and we couldn’t be more thrilled!
ROADMAP: First things first — here are our plans for 2021:
Our Telegram community continued keeping a close eye on AMPnet’s latest developments and was there for every milestone we celebrated. More than that, our community contributed with invaluable feedback and did not shy away from asking even the most daring questions.
Among the most discussed topics were the recently suspended Twitter account, Uniswap TX, YouTube video, as well as general questions concerning $AAPX.
Based on these topics we decided to share a summary of the most frequently asked questions that came our way in the past 30 days.
Representing ownership of anything on the blockchain is a monumental challenge. Most existing tokenization platforms try to solve it by being the central point of trust and providing assurances such as — we guarantee that this asset is owned by this person. AMPnet introduces the APX Protocol — a DeFi-native protocol that can prove the ownership of an asset in a decentralized and scalable way — allowing people to tokenize real-estate, company equity, renewable energy sources, loans, debts and much more. Once tokenized — these assets can be used freely on DeFi protocols, without the need to trust a central authority.
Q: Is the AMPnet platform ready to go live?
Q: Why has AMPnet powered only Greenpeace Greece and not Greenpeace globally?
A: Greenpeace Greece is just the first Greenpeace office that was onboarded. Other offices might follow after proving the model successful in the example of Greenpeace Greece.
Q: When do token unlocks happen?
A: The unlock is linear. Tokens are constantly unlocking for a year for Round 2, and 3-month cliff. Round 1 is succeeded by a 6-month linear unlock. You can see the details of token vesting in the following chart:
Q: How do I claim my tokens from the presale?
A: Use the following link to access the AAPX token dashboard: https://ampnet.io/aapx-token-dashboard/app/dist/
You’ll be met with a similar screen:
Connect your wallet, select your allocation and claim your tokens.
If the number of tokens you can claim does not increase, the vesting contract you belong to needs to be called. You can either do this manually (at any time) or wait for AMPnet to call vesting contracts for you (which we will do periodically).
Q: What is the main token utility and how can we make sure it’s an integral part of the AMPnet ecosystem?
A: The AAPX Token runs everything on the APX protocol. Following are the listed uses of the AAPX token:
● Voting for Governance Council
● Voting for network proposals
● Staking AAPX to become an auditor
● Staking AAPX to report a tokenizer
● Staking AAPX to get listed on the APX protocol
Beyond that, there are several fees that are paid on the APX network. They can be paid in wBTC, WETH, Dai, USDC, and many other tokens. Whenever any of them is paid — the APX smart contract automatically buys AAPX tokens from a DEX such as Uniswap and sends them to the treasury. AAPX holders can vote to distribute their AAPX tokens from the treasury to an address through a process of grants. Grants can be approved for any activity helping the growth of the APX network.
Q: How can we buy AAPX?
A: You can buy AAPX on Uniswap — https://app.uniswap.org/#/swap?outputCurrency=0xbfd815347d024f449886c171f78fa5b8e6790811
Q: How long does it take for Uniswap to confirm a transaction?
A: Your transaction is confirmed by the Ethereum network. Using high gas fees will allow your transaction to be confirmed within approximately 10 seconds. To decide on which fees to use, see the recommended gas prices at EtherGasStation.
Q: What are your projections for generated network fees, buyback volume and the results they have on the token price as well as the market cap?
A: AMPnet is a mature project with real clients and $100M+ already committed. A lot of this has already been priced in — the best gains will be achieved by those who truly believe in the project and are willing to hold long-term.
Explore the following infographic for our network fees and buyback volume projections:
These are the volume projections we realistically expect to happen. The AAPX token buyback model ensures that the price of the token will always be truly correlated with network activity — making AAPX a great long-term hold.
Q: How do you plan to encourage people to use your solution? What are your marketing plans? What are the biggest challenges you expect to face and how do you plan to overcome those challenges?
A: AMPnet LLC will be the company running marketing campaigns, booking large clients, building the Tokenizer Builder and making it the cheapest, best featured financing platform available. We’re in the process of closing with some significant partners and will continue to support the onboarding of clients, liquidity providers and investors onto the APX protocol and the APX DEX. Our biggest challenge is making the “create your own tokenizer” process as painless as possible. We will fulfill the role of legal templates, platform builder, customer support and custom development services to enable as many clients to join as quickly as possible. Our other big challenge is providing liquidity for historically illiquid assets on our DEX. For the renewable energy aspect of this — we’re planning on running carbon offsetting schemes and for real estate, we’re planning to engage large, institutional real estate investors and developers.
Q: Will there be a listing on a CEX?
A: We are already in negotiations with several exchanges. All listings are first announced by the exchanges before being publicized by the client so we can’t comment on that part. Please wait for the announcement that’ll be published via our announcement channel.
Q: Has the circulating supply issue at EtherScan been resolved?
A: Etherscan obtains its information from Coinmarketcap. Both platforms need an API endpoint (“website” updating the circulating supply). When vesting smart contracts, unlocking tokens — by their nature — requires some extra effort in terms of production. We will keep you updated on the progress we make as we resolve the issue.
AMPNET APX ECOSYSTEM MECHANICS EXPLAINED:
AMPnet’s ecosystem is made up of three types of participants: auditors, council members, and tokenizers.
All three participants must hold APX tokens in order to participate. In order to tokenize assets on the APX network — a company or a person tokenizing must list themselves as a tokenizer. When they are first joining, they get to set their initial tokenizer complexity and tokenizer risk variables. These variables determine how much they have to pay in fees to be listed on the APX protocol and how much money they need to deposit into a mandatory liquidation reserve. This money is used to pay out the holders of their tokens in case they act in a malicious or incompetent manner. Auditors are tasked with verifying the integrity of the tokenizers.
In order to do this, for each tokenizer, a group of a minimum of three and a maximum of twenty-one auditors are selected at random from the auditor pool.
In order to become a member of the auditor pool, auditors must lock their APX tokens in the auditing smart contract. The more they lock, the more likely they are to be chosen to audit a tokenizer. The randomly selected auditors are put into the auditing council for a specific tokenizer. The auditors request documents from the tokenizer — the tokenizer provides the documents and if the documents are good — the tokenizer is approved. If the documents cannot prove ownership of the asset — the tokenizer is reported and sent to trial by the APX token holders and the governance council. If the tokenizer is found not guilty — they carry on with their tokenization. If they are found guilty — they are removed from the APX network and their mandatory liquidity reserve is distributed to the addresses holding their tokens.
Q: What are the tokenizers?
A: An APX tokenizer is an organization, cooperative, or person listing tokenized assets on the APX Network.
The tokenizer must reliably and consistently prove to APX auditors that:
● They have ownership of the assets they are tokenizing or a valid legal agreement such as a debt obligation or a revenue share agreement.
● No other persons — legal or natural — hold any rights to the tokenized asset.
● They have performed tokenizations in accordance with the laws and practices of their respective jurisdictions.
● They have provided legally valid contracts preventing them from selling the asset or using it as collateral.
Q: Who are the auditors?
A: They are persons and automated services verifying the integrity of the tokenized assets and the tokenizers which list those assets. Anyone who owns APX can, theoretically, become an auditor. The only theoretical requirement to be accepted is to stake a certain amount of APX tokens in the auditing smart contract. Anyone who has staked APX in the auditing smart contract is automatically put into the auditor pool. By doing this, they earn fees and they oblige themselves to perform audits when requested by the protocol.
Q: What is an auditor council?
A: Once a week, for each listed tokenizer — an auditor council is selected at random from the auditor pool. While the selection itself is (verifiably) random, the chances of an auditor being selected are weighted on the amount of their staked APX. The auditor council consists of at least three and no more than 21 auditors — this amount depends on tokenizer complexity. For less complex tokenizers, a smaller number of auditors is selected. This ensures that low complexity tokenizers, with low financial capabilities — are still able to pay the auditor fees for their services.
If you’re interested in the detailed explanation of the AMPNet APX ecosystem, where we go through the APX governance mechanics, tokenizer complexity, tokenizer risk, mandatory liquidation reserve, the concept of slashing the auditors, and more, please read our in-depth whitepaper.
COMMUNITY GROUPS | SOCIAL MEDIA:
Q: Why is the official Twitter account suspended?
A: Many crypto-related accounts were suspended on the same day in March. Until we get our main Twitter account back, the team will be using the APXProtocol account.
Read the latest update concerning the status of our Twitter account here.
Q: How active is AMPnet’s Telegram group, and is the team involved directly?
Q: Is there a Reddit account?
A: Reddit is a great way of engaging with the community, and we’re already starting to put it in motion. We have a live subreddit you can check out. Also, feel free to check our AMA session held in a Reddit discussion.
If there’s anything else you’re wondering about, check the pinned messages in our Telegram group.
Show us some love by following and liking us on our social media channels!
Twitter: Until we get our main account unsuspended, we will be using APX Protocol Twitter account.
Official Website: https://ampnet.io/
Official Telegram Group: https://t.me/ampnetapxchat
Official Telegram Announcement Channel: https://t.me/ampnetapx
Telegram AAPX Trading Group: https://t.me/aapxtrading
Official Medium: https://ampnet.medium.com/
Thank you for your overwhelming support so far!