Transcript of the AMA conference with the Octopus Crypto Capital team. 11.01.2021.
Question: Can you introduce yourself to Generation Crypto community? What is your background and how did you come to the idea to create Octopus CC?
Answer: First of all, it is a pleasure to welcome all AMA members. My name is Tim I am the deputy CEO for community relations. My colleague Alex is our CTO (technical director of the company).
Our team has experience in a variety of areas: asset management, cryptocurrency trading, creation of crypto projects, decentralized finance.
We came up with the idea to combine it all into one product — Octopus Crypto Capital.
We’ve spent many months on strategy development and implementation, wrote many lines of code and reached our first goal — on the 1st of January 2021 we’ve launched our first 2 pools: Octopus Trading and Octopus Football (working with NFT).
Question: Can you briefly describe what is Octopus CC in 3–5 sentences? And what is your Mission and Vision?
Answer: So, our mission is to make cryptocurrency investing accessible with a few clicks (a couple of actions from smartphone). First of all, for those who dont have time to follow the markets, spend many hours on analysis and digging into projects.
Developing this idea further — decentralization means that in time we will become a platform where many managers will be able to work (whose results meet our high requirements) and everyone will be able to choose the pool they like (competition among managers).
Question: Can you name your competitors? What are the main competitive advantages of Octopus CC?
Answer: Well, we don’t have any direct competitors, as this is a unique idea. At the moment our “competitors” (not direct) are projects that offer the service of following traders’ wallets, but no ones’ finds are immune to traders’ mistakes.
Our risk management system, which is prescribed in the smart contract, significantly limits managers from risky transactions, as well as keeps full records of all assets and imposes asset rebalancing requirements on each of the managers.
In addition, we have established a reserve fund to which a portion of the project’s profits will be allocated. The reserve fund can be used to cover unforeseen losses (not market related losses).
Each manager has a personally developed system of motivation, depending on the objectives set, their achievement or over-achievement.
Question: As a new project with great prospects and potential why did you choose to build your platform on Ethereum blockchain amidst continuous increase in gas fee?
Answer: Our average investment amount is $1k-$2k, minimal $300. And not so often we do funds moving. Also, smart contracts are optimized for gas.
Question: What’s Octopus NFT and why was it introduced? Does it present any opportunity or advantages to us as users?
Answer: The first purchaser of an NFT can receive a lifetime bonus by becoming a partner in our unique referral program. Details in the presentation on our website or Medium.
Question: How does Oasis apply for a witness node or deploy/manage a smart contract ? How tight is your platform security, and what goes into the audit process for these projects to protect investors — especially Oasis users?
Answer: A technical team behind project has 5+ years experience in smart contract. After contracts will tested in full, we has plans to order audit from top-5 players.
Question: If anybody thinks your project really likes a scam project, and they can not trust this project. How do you make them believe in your project?
Answer: Here we rely on two arguments. First, the technical and financial component of the project is absolutely transparent and public. Managers don’t have direct access to funds and the risk management system is also used. Secondly, the project team is always open to your questions on any topics. You can ask them either in DMs or in project chat rooms. Thirdly, scam is not profitable, we will earn much more money by having an honest business with a good reputation. Fourthly, the project is being created for over a year.
Question: How exactly does Octopus CC plan to mitigate the risks when it comes to for example your Crypto Fund with various different assets? Who chooses them and how?
Answer: The OCC will generate profits from pool management fees and as part of the success fee (the excess of the actual profitability over the minimum required profitability). For each pool, the level of the minimum required yield is set separately.
Question: Regarding your automatic deposit/withdrawal system for investment funds, is this available for any crypto currency or only for so-called “stable currencies”?
Answer: As for now, you can deposit funds in stable coins as well as in ETH.
Question: As a community based project, how can I donate my quota for your success? Do you have a Global Ambassador Program or a Referral Rewards System?
Answer: Yes, NFT tokens — is our unique referral system
Question: How solid is your technical base and OCC token model compared to other Defi projects? Are you ready to change quickly in an ever-changing cryptoeconomy?
Answer: Our core software started from t.me/Octopus_VC_bot telegram bot first (most secured messenger worldwide) and based on a core software, which was develop 8 years before. But it module based software and easy adopt for customers. For example, we are planning soon launch iOS app, which will support erc1155 NFT (first on the market). Contact us to join beta testing.
This is how we work. Safe, quickly and secure.
Question: While you build your project, do you take into account community feedbacks and demands?
Answer: We have a clear strategy for the development of the project. But this does not mean that we do not have enough flexibility to respond to changes in the demands of our clients.
Question: Does your system to inform clients in real time about the composition and real value of assets, does it work 24 hours a day, 7 days a week? Is it an automated system or is it managed by people?
Answer: At the moment, final testing of the system of tracking clients’ investments in real time is in process. Initially it will be implemented through a Telegram bot, and in the near future through the website and our own applications for smartphones.
Question: To create the Octopus CC financial ecosystem, will there be a buyback or burning of a token supply?
Answer: During the private placement of OCC tokens, the oversubscription was almost twice times within one week. We are confident that the development of the project will bring significant benefits to OCC token holders. In the second quarter, OCC tokens will be available for purchase on various decentralized exchanges.
Question: Where do I get information about your team? Why do you prefer to be anonymous? Do you have a plan to identify your team later?
Answer: Information about the team and managers will be posted on our website in the near future.
Question: Can you please give us a further breakthrough regarding your two pools, Octopus Trading and Octopus Football? What they are and how are they used?
Answer: Octopus Trading is a pool focused on short-term trading of classical tokens. Octopus Football is a pool focused on trading NFTs and receiving prizes for participating in tournaments.
A few days ago we launched our third pool, Octopus Midterm. This pool is focused on medium-term investments in young promising projects.
In the coming months we are preparing to launch 3–5 more pools that will have a new unique direction.
Question: Where does the project name come from? What does it mean for you and why did you choose that name for your project?
Answer: Octopus is a unique animal. First of all, it is the largest and most flexible predator in the world. Its 8 tentacles, each of which is controlled by separate pulses, is an association with the diversity and multidirectionality that we offer our clients.
Question: A year has passed and now 2021 is the beginning of good. And do you have a plan for yourself to make the project grow rapidly or not? What are your goals for this year and do you think you will achieve it?
Answer: We have a roadmap to up until the end of 2021. But that doesn’t mean that we won’t surprise the community with new unique ideas, which have not yet been announced anywhere.
Question: We all know that the “COOPERATION” in the blockchain industry is critical to long-term survival and dominance. Which partners has Octopus CC been cooperating with? What are the benefits of this partnership?
Answer: At this stage we are developing on our own. But negotiations with several potential partners are in the final stages. Follow the news on Twitter.
Question: Please are there plans for token buy backs/burns so at to aid in adding value to the token and attract more investors?
Answer: We have a developed token buy-back program. All the details are described in the presentation in the NFT section.
Question: Liquidity mining, Yield farming has been a very popular concept and a strategy for DeFi projects to boostrapping nowadays, does Octopus Crypto Capital has similar planning to incentivize adoption?
Answer: We have no plans to launch Liquidity mining or Yield farming programs yet. But we are always ready to make a surprise for our clients/partners.
Question: Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
Answer: In total there have been issued 20,000,000 OCC tokens with 60% reserved for the project team. These tokens will be distributed after January 1, 2022.
Question: I heard that there’s a bonus in place for those who purchase OCC token at stage 1, is this true? Can you please share with us how this bonus works?
Answer: Yes, those who purchased OCC tokens during the private placement will receive bonuses in the form of discounts on commissions and reduced lock-period on pool investments.
Question: What are the differences and benefits for the owner of Octopus Gold, Octopus Silver and Octopus Bronze?
Answer: Different quality Octopus NFT gives different percentages of affiliate fees and discounts to enter and exit investment pools
Question: At this point, do you think you need exchanges as a binance to keep growing? Or is it better to forget those things and focus on other activities?
Answer: Our project is on a completely different plane. We are a project that focuses on the client who wants to invest in cryptocurrencies, but does not have enough experience/time/knowledge.
Question: How does Octopus Crypto Capital assess the risks associated with market uncertainty and volatility? Is there a market risk hedging mechanism to ensure user safety?
Answer: First of all, our managers actively use the stop-loss system. Also, part of the funds of NFT pools is always used to hedge the assets of such pools through the use of available market instruments.
Question: Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?
Answer: Our team has been working on the project for many months now and our goal is to offer the market something completely new and unique. The trust of investors is very difficult to win. Our results and the profitability of our managers will be the best indicator for the trust of investors.
Question: Your project has great features. There must be an experienced team behind. Can you tell some about your team and their experiences in the market?
Answer: As mentioned above, our team has experience in a variety of areas: asset management, cryptocurrency trading, creation of crypto projects, decentralized finance.
The experience of working together and the uniqueness of the ideas generated by our team allow us to claim that the project will develop much faster than the roadmap.
Question: Which area does Octopus focus on at the moment? (DeFi, Dapps,Stake, Yield Farming, NFTs..)
Answer: Our project is the first in the DeAM (Decentralized Assets Management) ecosystem. It will be part of the fast-growing DeFI market.
Question: I wanted to follow your project for the long term. Where i can get all the latest news about your project? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?
Answer: You can follow the development of our project both in social media and Telegram channel of the project.
Question: Do you plan to build partnerships with local cryptocurrency developers and local project in each country to make the use of the token more global?
Answer: Of course, there are such plans. Forming partnerships that will facilitate our expansion in the market is a priority for the team. This will be beneficial for us, our investors and contribute to the development of our community. In the future you will be able to find specific information about the partnerships in our official resources.
Question: What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?
Answer: 1. Launch a full-fledged automatic technical platform
2. Creating a platform for the work of many managers
3. Creating additional value both for pool investors and OCC and Octopus NFT token holders
Question: Does OCC token have a plan to maintain its token price in the market or exchange or leave it all to investors or market trends?
Answer: Yes. We have a detailed program on token buy back, which you can examine in depth in the presentation.
Question: As you know Covid-19 has a large impact in the crypto Market, So How can your company maintain its project and also the team that are working hard during this pandemic?
Answer: The key thing in our project is decentralization. This concept is about the entire project. Decentralization of the team, investors, and managers.
Question: From a startup project to a mainstream project, being a pioneer in the industry, does the team anticipate that how many new startups will show up and compete?
Answer: In the process of developing the strategy, we studied many cases where good ideas were not implemented. We have considered their experience and will not repeat their mistakes.
Question: Let’s end with some final words from you about some upcoming events or socials.
Answer: Thank you for all the questions. It’s been an amazing AMA. We’ll publish many updates on the project soon. Follow the news at our Telegram channel. Cheers and have a great day everybody!