Recap of the SATO AMA with Blockchain Space

On Friday, April 16th, we had the pleasure to welcome to our Telegram chat:

Luke Montaine, The Chief Strategy Officer of SATO.

We asked him questions about the development of SATO.

INTRODUCTION

Q~ Briefly introduce yourself, a bit of your background and your role in the team?

A~ Hi guys, My name is Luke Montaine

I currently serve as the Chief Strategy Officer of SATO Toke and the CEO of Roadman Investments Corp. (An investment company listed on Toronto Venture Exchange). I am in charge of strategic partnership for SATO.

I studied economics at the University of British Columbia in Canada and I have been involved in the capital markets for over 15 years in various capacities and I organized fundraising for many venture capital and private equity situations. I have had extensive experience in structuring, financing and sourcing assets for various public and private companies.

The SATO project is a joint venture between Roadman Investment Corp. and SwapAll AMM exchange. Roadman investment is a Toronto Venture Exchange listed company (LITT), and SwapAll is powered by Yesbit Technology Ltd. They are located in Toronto, Canada and have been in the business for over 5 years now. Blues Qin, the CTO of SATO and the CEO of Yesbit is THE most knowledgeable person that I know when it comes to crypto and blockchain technology.

Their team has had so many projects like LinkCoin.pro OTC website tech support, KrawCat.com Oracle, yesbit.pro dApp and the SwapAll AMM exchange. Also Blues is the creator of EIP1983(http://1973alliance.com/) and he is very close to the ETH side-chain and the ETH core team.

We have always been very interested in cryptocurrency. Especially recently since there were lots of institutional players joining this space. For example Elon Musk and Tesla, Cathie Wood and Ark Investment, Grayscale and their Bitcoin Trust. We think it’s time for us to get into the space as well, hence we made 2 investments in blockchain powered businesses.

One is a tokenized e-Commerce loyalty platform called “iCashRewards” with over 500 top brands in the world. Their loyalty points can be redeemed as USDT or SATO.

The second investment we have made is a new NFT art exchange called “The Art of Teaswap.” There will be over 100 artists joining the TSA platform including a world rewarded artist from China, Cao Jun, and the other one from the UK, Sir Peter Blake, the godfather of pop artists. SATO will also be one of the payment choices on TeaSwap.

Q~ Let’s learn some more about the project. What is SATO all about in detail?

A~ SATO is an algorithmic rebasing token that is based on the Amplforth algorithm but with cross-chain function and layer2 solution. SATO is neither fiat backed nor collateral based. It is purely algorithmic and relies on the market force of supply and demand to maintain its price.

Every day there will be supply adjustments depending on the price of $SATO. These adjustments are called rebases.

For example: when the price of the token goes above 1 dollar, the total amount of the token increases. (expansion) when the price of SATO is blow 1 dollar, the total amount of the token decreases (contraction)

Although the total amount of token changes, the overall percentage of the network owned by a user remains the same. Also as more people join the network, the total market cap of the SATO token increases.

as for the maket cap, here is a snapshot of AMPL token. They are a rebasing token as well and their market cap have increased.

Q~ How are you different from other stablecoins and algorithmic tokens in the crypto space, what improvements have you made?

A~ Although there may be some problems in the mechanism of some algorithmic stablecoins, and its market value fluctuates. However, in the long run, it will be just like the competition between POW and DPOS.

People always criticize POW’s speed as not fast enough, it is still the best solution in the crypto space. The value of its existence lies more on a game theory. It is not necessarily the best or the most difficult algorithm, but it has won game theory through the interaction among miners, exchanges, and users. It has reached a perfect balance point.

As for DPOS, everyone feels that it has a lot of advantages, and it may be very fast, and there are many things that can be done with it. But since the foundation of cryptocurrency, POW is at the forefront of the first tier.

Now let’s compare the stablecoins in details. USDT,USDC,BUSD are centralized. They are backed by a 3rd party, for example Tether for USDT. If there is anything going wrong with Tether the company, USDT will be at risk.

DAI is a decentralized Stablecoin, but it depends on the ETH cap or asset value. I don’t think DAI can support the demand of the Defi space.

Amplforth is one of the earliest algorithmic stablecoins. Its biggest advantage is that the algorithm is very elegant and simple, and its game theory is very clear. Through a simple rebase model, the price of this currency can be stabilized around one dollar.

SATO uses the AMPL algorithm but has also made some innovations. including the cross-chain rebasing system, Layer 2 solution and a better oracle. In addition to these technological innovations, I also want to mention there is no private sale for SATO token, no pre-mining, which is a huge difference from AMPL.

Q~ Share with us the tokenomics and usecases of the $SATO token?

A~

here is the pie chart for our token distribution. Let me explain them a bit more

SATO is being airdropped to the defi community. whoever held bedger/digg, ampl, or donated to Gitcoin before March 25 will be able to claim their airdrop at sato.trade. SATO is also available for mining on our partners on lavaSwap from HECO and BurgerSwap from BSC, as well as on SwapAll AMM exchange. On SwapAll you can use ETH, USDT, SAP to mine SATO. The airdrop ends on April 25, so if you are qualified please go to this website to claim:

The initial supply of SATO is 5 Million. There will be 2 staking phases of SATO staking, which are Initial Staking and Layer 2 Liquidity Staking.

During the launch, 5 million SATO will be generated. No more SATO will be minted thereafter. The only way the circulating supply with increase in the near future for SATO tokens will be via network expansions.

Phase I : SATO Initial Staking — 1.5 Million (30%)

Phase 1 has just ended yesterday, but don’t worry, the majority of the token 60% is still available for farming

Phase II : Layer 2 Liquidity Staking — 3 Million (60%)

and it actually just started today on these CEX: swapall on ETH, burgerswap on BSC, and lavaswap on Heco, there has been over 8million dollars worth of USDT farming SATO on

within 12 hours.

The APY was once over 78,000% and now it’s at 1857%

Then the last part is the Team Reserved rewards: 250,000 (5%) and SwapAll APP user invitation rewards: 250,000(5%)

1% of Team’s 250,000 will be released on every inflation day, and not released on deflation days.

Xiaolin : So the APY isn’t fixed right and can still go lower than 1857%?

Luke Montaine : No it’s not fixed and yes, depends on how much money is farming.

So make sure to start farming ASAP while the apy is high.

Q~ Could you share with us, the recent progress and your future plans for SATO?

A~

here is our short term roadmap

As the fist rebasing stable coin backed by a public listed company, SATO already has been used in the iCash reward system, which allows customers to redeem their loyalty points into SATO. In addition, on the TeaSwap NFT platform, SATO will be one of the payment methods as well.

In the future, SATO will be used on derivatives such as insurance contracts, leverage contracts, futures, as well as lending. In addition, Roadman will push forward the mainstream adoption for SATO as well, enabling more business to use SATO as a form of payment method.

If people have paid attention to the recent news about the first bitcoin ETF in North America, they should know it’s issued in Canada where SATO’s core team is located. I am not sure but there is a possibility that SATO may become the first regulated stablecoin by the government in the world.

QUESTIONS FROM TELEGRAM

Q~ In a bid to ensure transparency and credibility to your users, have you done any audits and where can we see the reports from the audits?

A~ Our audit report link is here:

Q~ Can you share, what is the approach of SATO in this issue?

“There has been a lot of stable coins in the crypto space, but a lot of them either back by fiat or some other 3rd party, which puts a lot of risk on the token itself”

What are you unique features in dealing with stable coins?

A~ SATO is purely based by supply and demand and the rebasing algorithm can ensure the price stay around 1 usdt. Every day there will be supply adjustments depending on the price of $SATO. These adjustments are called rebases.

For example: when the price of the token goes above 1 dollar, the total amount of the token increases. (expansion) when the price of SATO is blow 1 dollar, the total amount of the token decreases (contraction)

Although the total amount of token changes, the overall percentage of the network owned by a user remains the same. Also as more people join the network, the total market cap of the SATO token increases.

Q~ How Do you planning to promote your project in different countries, wherein English is not spoken well? Do you have a local communities for them to better understand your project?

A~ Please check out our bounty which is open to all countries in the world:

Q~ Why did you make the decision to distribute, 10% of the entire $SATO token supply to 50k DeFi users, is the airdrop still available, where do we sign up?

A~ Our goal is to attack more users for SATO. when there is more adoption, the SATO tokens are more valuable.

the 2nd round of airdrop ends on April 25th so make sure to to go https://swapalltrade.com/collectReward if you are qualified.

Q~ BINANCE and other big exchanges have not listed any rebase token, what are your plans to make SATO break such jinx?

A~ It’s because technically it’s very difficult for the bigger CEX to list rebasing tokens at the moment. They need to update the transaction for order books for all the users so it’s a huge cost to them. That’s why even CZ himself mentioned DEX will be the future of exchanges.

Q~ SATO has plans to add NFT later? I have seen that many projects have opted for unique NFT collections and I would like to know if SATO will implement them as well?

A~ Check out the NFT on SwapAll app, they issued NFT back in Nov. 2010. Way ahead of the game.

CONCLUSION

make sure to go check us out on BurgerSwap, LavaSwap and of course on SwapAll as well. The apy is 1846% right now as I just checked

Here is also our social media channels:

Subscribe for Newsletter: https://sato.trade/subscription.html

Medium: https://medium.com/sato-trade

Discord: https://discord.com/channels/822481513605759027/825766231989944380

Twitter: https://twitter.com/SatoToken

Telegram channel: https://t.me/sato_announcement

It’s really nice having the SATO project in here!!!

You can check out their Website for more details. You can also follow them on Discord and Twitter to keep up to date with all things relating to SATO.

Join us now! Enjoy quality articles, daily curated news, insightful infographics, and enter a vibrant, fun, and knowledgeable community!

If you want to email us: Blockchainspace001@gmail.com

Blockchain space gives room for discourse which regards crypto-related topics, projects and cryptocurrencies. https://linktr.ee/blockchain_space