BSC.chat Interview Transcript with KOTH Token Project
Below you will find the transcript of the interview between Bill Cassidy, Aorlan of BSC.chat and WizDaoKing from KOTH Token. This interview was conducted on the BSC.chat Telegram room March 22 2021.
Bill
Big thanks to @wizarddaoking for Taking time to do this Interview. We were supposed to do this yesterday but we had to reschedule because he had a family emergency.
Let give a warm welcome to @wizarddaoking from KOTH. At this time Ill let him do a short introduction about who he is and the role he plays in the KOTH token project.
I will not mute the channel unless people can not listen. Please refrain from posting any messages while we conduct the interview.
Wiz
Hello! Thanks for having us
Bill
For sure bro go ahead and tell us a little bit about your background and the role you play in KOTH
Wiz
For sure, so I am Project Lead for $KOTH. I am a avid blockchain enthusiast and developer, been in this space since the very beginning.
Bill
Okay awesome, how Big is the team?
Wiz
As of now, we are a team of 3. Two developers with experience on eth, matic and BSC and one graphics designer, but we are hiring on a third developer as we speak.
Bill
Developers are probably the only group of people in DEFI who are irreplaceable. None of this happens without developers. Not to discount the other people and their efforts.
Lets get some general questions out the way.
1) Why Did you Choose BSC Chain over the other chains?
2) Is your project on any other chains?
Wiz
We originally built the project on ETH, but after witnessing the increasing gas prices and based off the dynamics of our token, we chose to build it on BSC. For 3 reasons, lower transaction fees, the growth of BSC and the options to build more ideas onto the project at reduced costs.
Bill
In October when things were pretty slow on BSC and not a lot of projects were building here I was trying my best to attract developers. I think it’s important to bring them onto the network and get them building. Even if some of the projects are stupid or scams. The smart developers are capatalizing on the opportunity that is presenting itself. It’s been fun watching a bunch of projects migrate to BSC.
I feel like ethereum is going to be for enterprise and the other chains are for the USERS.
Lets something fun.
Wiz
lets go for it!
Bill
Lets pretend you and I just walked into an elevator together, we are both wearing our chin diapers and we are standing 6 feet apart. There is one tasks remaining for you to accomplish for the day, find one more person to buy some Koth.
You look at me in the elevator and decide it’s worth a try. What do you say to me?
Wiz
Well of course this question would have to be based off the individuals existing knowledge in crypto, but lets say you are a novice in the crypto space with experience with BSC. I would be entitled to ask if they would enjoy the thrill and potential profits of being involved with a one of a kind built deflationary token with gamification elements with the ability to hold one of a kind NFTS.
But like I said, this is a broad question, with many elements that could tie in. But great question 😊
Bill
Right there are so many variables. Am I a grandpa? Is my name Jake and do I work at state farm? Who knows! lol. Thank you though that was fun.
Alright lets get some history!
Can you tell us how the project was created, where did the idea come from? Where did the motivation to build and develop the project come from? How did you guys come up with the name? Any relation to Hank Hill?
Wiz
😂 Absolutely no tie to Hank hill, im sure only Americans will get that. So as a blockchain entrepreneur and firm believer in decentralization, I (we) wanted to encompass the idea that any idea can be built on blockchain. There is a EVER growing market for deflationary tokens, so we wanted to bring something different, a gamified deflationary token with a human element to accelerate deflation while rewarding stakers. We were able to develop the name (brand) from the fact that the token is deflationary and with the “slaughter” function, that we will get into, there will eventually only be 1 token in existence.
Bill
Deflationary tokens have a gamification aspect to them too. I hope all these defi games people are developing come to fruition. Will be fun to one day play some of them. Ill be honest I have no look to much into koth or even played with it, so Ill need to get over there and check it out.
By the way hank hill is a character in the cartoon King of the Hill, it ran for quite a long time.
Okay we about half way done, thank you for your patience and putting in the time. I got a couple more questions and then my partner @aobr95 will take over for a few questions, and then Ill finish it off.
This next questions has a little bit to do with adversity and resilience. I think having some resilience is important for crypto project teams because we experience so much shit sometimes it’s overbearing. It’s important we learn from one another and grow as an industry.
With that said why don't you tell us what has been the biggest challenge your team has faced since launching the project? What was the solution the team used to overcome that challenge?
Wiz
The biggest mountain we had to climb was getting our idea out there where it was clear enough to understand and market. Marketing is far from our specialty, but believe me we tried. We eventually through word of mouth and influencers were able to reach enough believers to have a successful launch. In the mean time we have secured a monolithic partner that we will be announcing later this evening, that will be beneficial for marketing moving fourth.
Bill
That’s good to hear, people specialize for a reason and sometimes we want to do everything but hiring specialist usually turns out for the better. Most the time spending the money is worth it.
So Now Ill ask for some general project information and resources for the people watching and reading later. You are free to post all the links you want too in one post or multiple posts.
How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?
and
Give us the small outline of token distribution.
After that Aorlan can take over.
Wiz
So we have a news channel t.me/KOTHNEWS and a twitter.com/kothtoken where we put out all current information, but with our new partner that we are announcing later, we will have a broader reach for all news coming out.
👉 Website: https://www.koth.finance
👉 Contract address: https://tinyurl.com/4pmxncmj 🔊
👉 Medium: https://tinyurl.com/yyq979rl 🔊
👉 Twitter: https://tinyurl.com/y3qj4mm4 🔊
👉 Telegram: https://t.me/kothtoken 🔊
👉 KOTH news: https://t.me/KOTHNEWS 🔊
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🗡🛡KOTH TOKENOMICS🛡🗡
1,000,000 KOTH SUPPLY — MINT KEY DESTROYED
• 500,000 KOTH : Initial Liquidity Offering
• 50,000 KOTH : Team Tokens (Locked 12 months)
• 200,000 KOTH : Liquidity & Exchange Listings
• 150,000 KOTH : Development
• 50,000 KOTH : Staking (Partner & NFT Staking)
Aorlan
Hello Wiz thanks for being here.
Wiz
Hello, glad to be here :D
Aorlan
Will be moon cats or crypto punks able to found in a chest?
Wiz
So we have finalized agreements with several other NFT projects, but cannot disclose information regarding what will be inside the treasure chests due to a non disclosure agreement until their projects are ready. But to give you an idea, through staking KOTH/BNB LP or KOTH only (reduced apy), users will be able to farm loyalty shields that can be accumulated and traded in for Treasure chests, within the treasure chests will be random amounts of $KOTH (smart contract decides), NFTS from artists around the globe and exclusive NFTS from partners we are and will collaborate with.
Aorlan
Interesting. Could the NFT be Staked? Or just for collection?
Wiz
So you are basically staking your shields , bc it will take X amount of shields to trade in for different levels up treasure chests. Starting with Bronze, Silver and Gold, with increasing amounts of shields to trade for chests. When the Shields are traded in they are burned, you in return receive the Chests, and if you open the chest that NFT is burned as well.
Shields could be traded around, bc different amounts of each one will be required in combinations. So someone else may have farmed the one you need, that you could barter for.
Bill
So unopened chests are NFTs too?
Wiz
correct lootbox style NFTS
Aorlan
Do I understand any parnertship with marketplace or will you build it?
Wiz
Good question, so we will have the Farming and Trading feature for nfts built into our own website, but have acquired a marketplace where items can be traded or sold. The main reason to utilize a existing marketplace is based off exposure, by using a popular marketplace we can get our brand out to the masses.
Aorlan
let me congratulate you, your website is amazing.
Wiz
Thank you! Believe it or not, its about to scale in quality 10x, we are developing a BADASS User interface for interaction with animations. We are far from complete.
Aorlan
Next Question
Security is one of the core concerns when we start investing or dealing in DeFi space. How safe is it in Koth when funds are handled, from job creators to wages for the freelancers. Is there any audits etc?
Wiz
Great question, so we have had a formal audit done on our slaughter and VIP staking contracts that go live tomorrow. We will also have our NFT staking and trade up contract audited as well. As far as our developer wallet it is protected with multisig which requires all 3 team members to sign off on moving funds. Although we understand security is of great concern, from our end this is our BABY and have spent many hours working to build, but regardless will have any smart contracts audited by a 3rd party before holders can interact with them.
Bill
Two more questions and then we will Say some final thoughts and wrap it up.
Aorlan
audits are important in this network, it attracts more users.
What is biggest focus for koth at the moment and what is the number #1 priority for koth in the next 6 months? I like to ask these types of questions, because some projects are built to live for a short time, how do you plan to innovate?
Wiz
Our major focus is to stick to our roadmap, we want to issue out our products with deadlines we have disclosed. Our short term goals is VIP staking to go live tomorrow, The interactive deflationary “slaughter function” by end of week. This will be followed by collaborating with as many nft projects and NFT artists leading up to our NFT farming that will go live middle of Q2. But wait.. theres more. We are developing a simliar concept of Clash of Clans, but on the blockchain called Clash of KOTH. This will be the biggest achievement for KOTH and will really set us apart from other NFT projects. Holders will be able to form guilds, acquire NFT armor, swords, shields and go to war with other guilds for rewards paid in KOTH and treasure chests. A ton more regarding that, but dont want to spoil the surprise. Basically we have a entire year of project releases moving fourth that we will develop on to keep growing KOTH.
Aorlan
clan war would be incredible
Wiz
Its going to be amazing, we have already started development. Going to be crazy fun, instead of looking at your tokens sit in your wallet, you can wage war with them.
Bill
It sounds like a lot of fun and I think BSC is a good place to do it. The Fee’s will never be to high that people wont play. I’m excited to learn more and actually check it out. That is one cool thing about these interviews. Get a good feeling from them and makes me want to dive a little deeper, I hope it does that for others as well.
Aorlan
hope to see that soon, i like clan games. gangwar.
Bill
Wiz we really do appreciate you spending time here. I know we are all very busy and have all these deadlines but it means a lot to us that you did this for our community and yours. We look forward to your future growth and success and definetly would like to keep the communities in touch. Maybe an update interview down the road.
Wiz
Very thankful for the opportunity to talk about our project. We would love to come back to the bsc chat down the road!
Bill
Ill have a transcript of the AMA posted later on medium will share with you and the KOTH community.
We will open up the floor for any user questions, if any. Seems like not a lot of people online at the moment but that could be good for you! Let you get back to getting shit done.
Wiz
Sounds great thanks for having us.
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