This is a 2-part summary of Rubic Weekly AMA hosted by Colin O’Brien, Marketing Manager of Rubic Multi-Chain Protocol with guest Paul Walton, CMO of Telos Foundation.
PART I:
Initially, the interview began with the introduction of Paul Walton by the host. Colin O’Brien has been hosting the weekly AMA for Rubic discussing about future plans such as development, staking, marketing and inviting some guests on their Podcasts, Twitter spaces, and Telegram. The usual AMA format was done slightly different. It was supposed to be the Rubic weekly report first and then AMA but it jumped to interviewing Paul Walton first and then following up with a short Telos-related AMA.
On this interview, Paul Walton introduced himself to the community as an escapee from the traditional banking world. He worked in investment banking way too long and worked in Crypto since around 2017 when he went to an event which was a consensus in New York and realized that crypto would in fact change the world. He has done a number of jobs in crypto since then. He joined the Telos team at the beginning of this year because of its amazing community and amazing project.
He has done a lot of investing like we all have and worked with some amazing projects, worked for a smart contract developer, and worked with a bunch of people developing dApps until he met these amazing people from Telos, the likes of Justin and George Vernon when he was looking for a new project. He also met Telos’s amazing CTO and architect Jesse Schulman.
Paul got involved with Telos when it was essentially a fork from EOS. Telos native was born and introduced FIFO transactions, no front running, very fast transaction speed, highly scalable that kind of took the EOS project and improved it. From Telos native to building an EVM architecture sitting on top of EOS. Telos is essentially C++ smart contracts laying on top the network’s native layer. The implementation of EVM is really interesting and innovative though the world doesn’t know yet enough about how amazing Telos EVM is, we are in the process of telling people just how different we are as an EVM from others in the marketplace.
Paul also mentioned about a huge NFT project allowing individuals who can construct digital art files to create their own NFTs. According to him, NFTs have been an amazing transformation in creativity but you have to know how to mint. He also mentioned one of the recent winners of Hackathon, KLUEST which is an amazing AR/VR Metaverse where Telos World will be based on. To wrap up Paul’s AMA, he answered question from the community member with this question,
Can you list 3 killer features of your project that make it ahead of its competitors? And what are the competitive advantages that you feel most confident about?
Paul replied,
“I mean the ones going to be quite sort of qualitative I think, first and foremost, the team you know. If you look at the things that the VC looks for in a project to make venture funding is team; we have an amazing team of people. You know the core team Telos Foundation; Telos core developers is now up to about 30 and we work together really well and Jessie Schulman who's our lead developer is an “A” a rock star”.
“I think the first thing I would say is Team."
"The second thing I would say is the strength of our Community. You know, the broader team of people who support Telos are dApp partners; people who work with us just incredibly supportive and very diverse and we want to keep that you know. We were playing with a new tagline which is “faster, fairer, future” and I think fairer is really important. I think we'd like to be the first kind of proper community crypto. And many cryptos aren't community, they're based on the profit motive and not on a desire to kind of improve human good."
"The third thing is, as a bang on about is the technology, but unless you have the first two, unless you have the people and the Community, oftentimes the technology can be squandered. But we have an amazing tech. You know, we have the best layer one blockchain out there, and I think that during this year, as people come to realize that you will see the value of our token. Rocket judge from a financial perspective and I spent 30 odd years analyzing financial instruments. Telos is extraordinarily undervalued, but I would say it has people, it has community and it has tech.”
----- End of AMA for Paul of Telos -----
PART II:
This is the 2nd part of AMA dated April 30, 2022. Colin now turned to Rubic’s weekly update report and then he’s going to touch some parts of questions that were asked for Rubic throughout the week. He hopped into the weekly update report starting with development – liquidity provision. Rubic launched their first round of liquidity provision program and now it’s live and open to all users. Anyone who participated in their liquidity provision program can earn up to 27% APR in stable coins. Now since the rewards are distributed through a stable coin like USDC, it has no volatility. You can check your APR daily and estimate your profit. The second big piece of news for development is the Telos iteration. According to Colin, they have recently completed full integration of Telos protocol into Rubic as you all heard from Paul Walton. Telos is a community driven network that powers one of the fastest EVMs in the world. This is a very important step for Rubic and they are very happy to working with Telos.
Now to go over some brief details of the Telos network, they are offering half second block times; they have a highly scalable infrastructure up to 10,000+ transactions per second; they have low fixed cost transactions, that’s in a pennies and one of the coolest features- there is no Front running. Telos protocols have over $15 million in daily trading volume right now and they have over $115 million in Total Value Lock and as you heard from Paul, they are focusing on increasing their TVL dramatically and hopefully Rubic is able to help them do that by facilitating people moving that value into the Telos Ecosystem. We are very happy to be partnered with them and we look forward to additional development on their particular network. We have 2 main DEXs right now that we’ve integrated, we have both Zappy and Sushiswap liquidity available on Telos.
Alright, moving on from there, Colin went over to Rubic’s staking update. This week, they abruptly informed their community about closing the second round of their staking campaign a little bit early and they did this for the health and the future growth in Tokenomics of Rubic. Things will be a lot more sense as they release more details during the month of May as it stands with round 3 and everything. They will share more information throughout the month of May, about all things for round 3 and again they do apologize for kind of dropping this news suddenly and abruptly ending their round 2. They realized they could’ve done a better job communicating it in advance, however, they do note that the decisions they make internally are always in the best interest of their users, of their token holders and the company as a whole. Colin said,
...“while some things may not make sense right now, they will make sense in the future when we release more information”. “But again, it is going to be more inclusive round 3, more people will be able to participate and we are still kind of hammering out the final details. We will share all that in May, again we do apologize. Everyone is getting rewarded for the second round and we’re doing the additional 20% on top for anybody who participated in round 2 of our staking. So, there will be more information that we will be able to share about this as we progress through the month of May.”.
Colin answered some questions: What’s the status of the auto-refund system?
“The auto-refund system is currently active and live right now. I don’t have the exact time that we launched it again on the platform but it is responsible for around 95% of all refunds right now. Only 5% of refunds are being done manually at the moment, we are working to get that down to zero and get the auto-refund up to 100% of all refunds. The auto-refund is up, it is running, it is working, and again accounts for 95% of all refunds that are issued, Colin replied”.
When do you think nodes will go live?
“That is in reference to validator nodes. It is something that our development team has been working on extensively over the course of 2022. It is just one of the many things that they have on their plate. We hope to be able to share more information in June. We’re looking at June as kind of the timeframe for potential participation in running validator nodes. Now, that is subject to change; the industry is wild and you know we need to adapt and respond to changes in the market, to partners, to new calls to action on development, things like that. It is subject to change but the most recent information that has been given to me from the team, from the top is that we are looking at a June timeframe for that. We’ll share more information in May hoping by the end of Q2 we’ll be able to launch that and if it’s possible it could slip in to early Q3, we’ll let you know. Again, we’ll share more details with you guys as we press through May and into June, Colin said”.
Finally, in the weekly report from marketing, they raffled a whitelist spots for their liquidity provision program. There’s a link to all of the lucky winners that were guaranteed allocation of $800 in USDC. They will be able to check that out in the weekly update report. Rubic’s liquidity provision program was supported by a number of Twitter influencers and ecosystem projects. They have some screenshots of them in their weekly report. Moreover, our protocol development updates and our Total Value Locked was noticed by a number of Twitter influencers as well. They are giving you an update on their referral campaign program. They now have over 3565 referral links that were created for their referral campaign. These are unique individual links and we would like to highlights some of the projects that have been integrating in their widget with the help of this referrals. And the last thing in the marketing part of the report is just about this AMA and having Paul Walton on. To wrap up the AMAs, Colin picked random winners of $50 worth of $BRBC for live question and there are going to be five winners from questions that have been chosen through Twitter and they are going to win both $50 in $BRBC and $50 in $TLOS.
----- End of AMA -----
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