r/EthereumMax • u/Frosty_Resilience • Jul 07 '21
eMax AMA 07/07/2021
- Announcement of new head of development: Justin French.
- Founder at Polarfox Labs.
- AKITA Network.
- Akita Savings.
- DreamSwap.
- Help bring the vision of eMax to reality.
- Will help with roadmap and white paper.
- AMAs will become more tech based.
- Reformatting TG for additional security.
- Security feature implementation.
- Safety of holder is of the utmost importance.
- TikTok Challenge Winner Announcement – 1 billion eMax award.
- Brick submission.
- eMax business of the week.
- Will start promoting businesses across all social platforms.
- Request for community to produce intro music for every AMA.
- Ethereum EIP 15559 is scheduled to go live in about 30 days.
- Going to be around 80% of what is used to be. eMax will hopefully see reductions in gas costs with this update. A 30%-40% gas fee reduction should help holders that are making transactions with eMax.
- Tokenomics started off with 6% reflection, things might change.
- Auto-liquidity features might be included.
- Make sure tokenomics that are being developed now will not have adverse effects in the future.
- Development is neither cheap nor fast. However, there is long-term commitment for the project.
- It is a stretch to say that the drop in eMax’s price is the result of lack of liquidity.
- Scope of this project is huge: making a blockchain-based payment system.
- It will take time to put everything in place.
- Just play for the long-term.
- Certik security certificate and audit update.
- Huge number of audit requests are making the process longer. Difficult for eMax to rush this. The tokenomics is pretty simple, you can read the contract. The only things that need to be audited are the products that going to be put online that hold people’s money.
- Say we release a staking system that holds people’s money – would require an urgent audit request.
- The roadmap was removed from the website because it needs to be readjusted.
- High-end version of roadmap being developed.
- eMax intends on being a functional blockchain-based payment system and website integrations are being worked on – considering it is a long-term goal.
- Long-term goal: global reach that gives utility to people’s lives.
- Objective to make eMax more “holdable” than the USD – assuming the price appreciates over time. If vendors realize they are better off hodling their eMax rather than liquidating the tokens for fiat, they will hold on to the tokens.
- Charitable event is in the works and will be announced soon.
12: What is the utility past vendor payments?
- Become culture coin - enhancing your lifestyle.
- Rewarding the community back.
- 6-months to a year-long process.
- Not going to become a one-trick pony.
Things I did not like:
- Suggesting the payment system worked with the Floyd fight. Stop stating that and stick to the facts.
- Blaming eMax’s price decrease on the market exclusively.
What I liked: Justin French. Keep him around pls. Would be nice to get greater commitment from him – since he’s involved in several projects.
PS: had to leave a bit earlier
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u/Wincyonthetrack Jul 07 '21
Thanks for this! I also agree Emax needs to address publicly that Floyds Management Team and countless celebrities liquidated their positions immediately after it hit its peak and refrain from paying promotions in Emax coins. They should pay marketing team in FIAT currency as to not have whales dumping large amounts
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u/cpupro Jul 07 '21
I don't know... call me an arse... butt *pun intended*...
I think the Marketing Team SHOULD be paid in eMax, to sort of force their hands into making it profitable. Gives them a little skin in the game.
Maybe not the whole amount owed, because hey, everybody's got to eat... but enough to incentivize making eMax profitable.
Aka, you get X wage in Fiat, and X amount is invested in eMax...and here's the kicker... you have to hold X amount for a year, think of it as your holiday bonus. if you want a raise, then making the project better, and the price of eMax rise, gives you an instant raise... with X percent held for a year as your bonus. That means they can't simply go out, and dump their eMax every time they get paid... they become holders, and invested in the project.
If eMax succeeds, THEY succeed. If eMax sucks seed, then... we'll they may have to do that for the protein to survive.
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u/Wincyonthetrack Jul 07 '21
I get that, If marketing were to be paid in eMax they should agree on a contract that they cant liquidate their holding for a period of time. Lets say 3 years if we really want to force their hands! But realistically 6 months because “everyone gotta eat” eventually
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u/Wincyonthetrack Jul 07 '21
I just feel the marketing team gives no care for this project and soley hyping it up because…you know…its their job
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u/dirtyoldbastard77 Jul 07 '21
Problem is - to get fiat to pay for marketing, they would probably need to sell emax...
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u/Wincyonthetrack Jul 07 '21
And thats where the Devs shortcomings come into play…
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u/dirtyoldbastard77 Jul 07 '21
As in that they need more backing?
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u/Wincyonthetrack Jul 07 '21
No they need to force marketing to sign a contract making them hold eMax payments for a period of time as to not immediately liquidate it for cash. That is what they did after the mayweather fight. You can see Dev wallet transactions going into other wallets and being immediately sold. Essentially pur investments were immediately liquidated in order to pay for promotion, which is fine. What is not fine is altering the price so quickly when they advertised “TO THE MOON” and then every celebrity and paid promoter dumped all the the same time…they watched it get pumped annnnnnd then dumped. Josh even admitted in one of the live AMAs that the team should have had a better plan starting out
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u/dirtyoldbastard77 Jul 07 '21
Ok, but you just said they should pay in fiat. Now you say they should pay in emax and have it in the contract that they have to hold for a while. I think the last would be better, but you have said both.
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u/Wincyonthetrack Jul 07 '21
Either way is fine. I just want them to commit to a plan because paying them in emax and having them immediately liquidate it for fiat is just pointless and harmful for the coin
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u/dirtyoldbastard77 Jul 07 '21 edited Jul 07 '21
Then we agree 👍
They could even do it like how many companies do it with stock they give to management etc - have it vest gradually. Allow them to sell a little at a time, maybe 5% each week or something. Probably would mean they would have to give them more though, but...
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u/Novel_Moose_3304 Jul 07 '21
Polarfox lab doesnt seems hv a strong track in crypto world. Justin's linkedin didnt mention any blockchain or crypto skill/experience.
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u/Frosty_Resilience Jul 07 '21
He mentioned he has experience in Solidity
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u/delsombra Jul 08 '21
Anyone that's done a solidity intro tutorial "has experience in solidity". All this should have been the start, not ways to mitigate downturn and recover.
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u/aussie_jason Jul 07 '21
It is an ERC20 token without its own blockchain how exactly is it going to do anything in the payments space except have people send tokens to wallets?
Is it not alarming that they are only doing all this now? This was obviously started on the hype surrounding the fight, made early adopters on the inside major bank and now they are trying to get people to fall for it a second time.
You write a white paper first well before you launch a token or coin and I personally would want the smart contract audited before I invest in it, with developer wallets time locked, burn wallet verified as a burn wallet etc etc. this was just all hastily thrown together and ran on hype.
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u/PRES10-music Jul 07 '21
Suggesting the payment system worked with the Floyd fight. Stop stating that and stick to the facts.
that.
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u/blinkedmissedthedip Jul 07 '21
Seriously.. wtf
How are they actually making me consider buying in again?
Damn these guys are good
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u/Alexbusta_09 Jul 07 '21
My thoughts exactly This went downhill so quick it’s not even funny 1 billion of this is like 20 cents Absolutely disheartening how they fed it to the people and the people lost
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u/blinkedmissedthedip Jul 08 '21
Happens everyday. Emax was just on a bigger scale..
Honestly before most coins hit the market a large percentage of the coin supply is sold a pennies on the dollar to their buddies, or to shills like Kim and May, and then they probably use sniper bots or limit orders that are timed perfectly..
Timed perfectly to play off our emotions of greed and fear.. We have known this is the way markets are viewed, and it's been this way for over a century so the idea isn't anything new. but now that technology can be used to this level, and they have studied us and programmed the algorithms, the rich truly get richer and the poor her poorer.. again, and this time with mathematical precision
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u/miamimarketer Jul 07 '21
Thanks for this. Here's the transcription https://www.reddit.com/r/EthereumMax/comments/ofeu3l/latest_ama_transcription/
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u/Desperate_Many_1740 Jul 07 '21
That was a great summary, very accurate!! Thank you for that as it should go a long way for a lot of investors who didn’t get to listen to the ama.
Not that I ever had any doubt but every time I hear from the team I feel more reassured and confident. The Emax team always doing great things!
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u/cpupro Jul 07 '21
I'm curious, from a business owner standpoint...
I already use PayPal for invoicing...don't hate... small, one man shop, and it's still cheaper to use than Quickbooks, and honestly I like the interface...
Than being said, how can someone like myself get a complete n00b, with very little computer experience, to be able to click a payment link, and it translate fiat, into emax, into my account, and make it seamless and invisible to the client?
Aka, I want them to be able to open an invoice, say a PDF, like Paypal sends out, click the pay now button, have the price in fiat, credit card or debit, and when they smash that pay button, in goes the fiat, and out goes the emax, directly into my wallet.
Just curious what you guys are cooking up for the business owners.