Thanks to all for participating in our Jigstack AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this AMA recap is for you.
Manpreet – Hello @RobyGu, CryptoNationIN welcomes you 🤗
Robert Weir – Hey @manpreetCN great to be here 🙂
Manpreet – We’re pleased to have you for the AMA today 😊
Robert Weir – Great! look forward to your questions
Manpreet – First, please introduce yourself to the community.
Robert Weir – Sure. I am Roby Weir the COO of Jigstack. My background over the last 10 years has been developing start-ups in the digital space from the ground up. These have either been companies I have owned or projects I have invested in or consulted for. The E-commerce space is where I have spent most of my time however, I have had a growing interest in blockchain over the last few years and was excited when this opportunity came to me.
Manpreet – That means we can call you the helping hand for startups. Am I right?
Robert Weir – Yea I love the start up space and the energy and speed. Never a boring day or moment let me tell you haha.
Manpreet – That’s nice. Now, please give a brief introduction about Jigstack to the community.
Robert Weir – Sure thing. Jigstack is the first decentralized Ethereum-based DAO (autonomous organization) with a conglomerate structure. Its purpose is to govern a range of high-quality, user-friendly and ultra secure DeFi products. We see ourselves as wanting to be the Microsoft of Defi which brings a standard of both user experience and security that is bespoke and trustworthy.
Manpreet – Jigstack will soon be the Microsoft of DeFi.
All the best from CryptoNationIN
Robert Weir – Gotta aim high 😉
Manpreet – Thanks for introducing yourself & Jigstack in such a nice way 👍
Q1. Jigstack aims to become a decentralized financial Microsoft by giving everyone equal access opportunities to DeFi. Does it have to be their technical expertise or experience with cryptocurrencies to contribute?
Robert Weir – Great question, and yes we have a solid team which brings experience from both the crypto market as well as more traditional digital markets such as, Fintech, Apps & E-commerce. Jigstack also only works with reputable third parties in assisting our team, and all our products will be heavily tested and audited before we introduce our products publicly.
Q2. Could you tell us about your partnership with Polygon? What will be the greatest benefits that this collaboration will bring to you? And what benefits will the users of your platform get from it?
Robert Weir – Polygon will be working with us to find a solution for our products in regards to the ever daunting gas prices currently facing projects built on ETH. We will be announcing all our developments with them publicly and keeping all our community members and token holders aware of the progress.
Q3. In the ecosystem of JigStack, the only source of governance is through the holders of the STAK token. Considering that, what are the features that can guarantee democracy and transparency in the decisions taken by holders?
Robert Weir – Stak holders will become key to all decisions in the near future on anything from product development, team members and even marketing plans. This is why a DAO governance model is so great. We will have more to announce soon about how this will plays out and when these voting rights will applied and how to use your votes to point Jigstack brand and products into a better decentralised future. Also we will be creating the right balance between time staked vs amount staked to ensure it is never taken over by a few larger holders.
Q4. What is specific about jigstack’s technology and products that you believe will succeed? How revenue does jigstack generate and what plans do you have to attract more users in the near future?
Robert Weir – We believe by bringing the standard and quality to a new level that sit underneath the Jigstack Brand. Revenue will be a 1% fee on any transaction made on any of our platforms, which 20% of the revenue will go to our buy and burn program. The remaining 80% will be distributed to our Token holders.
Q5. Can you tell us more about Jigstack lemonade stand concept and why you think solutions such as Lemonade will play an increasing role of importance in the space?
Robert Weir – Lemonade will be the cheapest and most decentralised launch pad to be put out in the market. We want to ensure our platform is very easy to use both as a company launching a project as well as the user wanting to purchase tokens. We also will be rolling out features such as whitelisting and timers/schedules to make sure all investors have options. Our recent purchase of ICO rating will fit into our plans to become the go to place to launch and purchase from new projects/companies.
Q1. Can you tell us some of the latest achievements made by the Your project & can you describe in details the current development efforts, such as market expansion plans, expected applications & new upcoming program of events?
Robert Weir – Surething. Well, we are weeks away from launching our MVP of our first product Lemonade (official date announced soon) which will also be the platform where we will be doing our public sale. This shows we really believe in our products by using the product to launch our own token for Jigstack. In terms of other milestones, the acquisition of ICO rating was a huge win for us and will make Lemonade an even more powerful tool to expose new exciting projects wanting to launch while still keep its solid review system to make sure people are well aware of the interest in the project from others. In the coming months, we have an additional 4 products to launch including our wallet and our staking platform Stakbank. Stay Tuned!
Q2. How do you attract investors to be interested in Your project ? because some investors only focus on short-term prices rather than long term?
Robert Weir – Yes by being transparent and delivering real products that are viable in the current Defi environment. Execution is key and one business pillar are am always talking about. We must execute what we are saying. SUPER SUPER important.
Q3. How many kind of documentation will they need to provide? Will it really be possible to crowdfund from any country when the platform goes live? Or will there still be some restrictions When a creator wants to start a project?
Robert Weir – We have a video about our Lemonade Platform coming out this week. You will see it in action and get an understanding on who and where this can be used.
Q4. The hot new term in crypto is “YIELD FARMING”. Why did this get so hot right now? Do you have a plan to develop the Yield Farming system?
Robert Weir – Of course!!! We are looking at all things going on in the Crypto world and also the commercial world too. If we believe we can improve the current products out there we will develop. We won’t build just for the sake of it is “hot right now” needs to make sense long term.
Q5. Southeast Asia is a very vibrant market and many project developed here so with Your project what do you think about Southeast Asia and do you have any plan to develop here?
Robert Weir – Funny you say this. I am based out of SEA so I see the demand growing and yes we do have plans to develop in this region.
Q6. For project development, the main priority is to have sufficient funds. Is your team financially able to carry out this project? Do you have sufficient funds for development? And how we can get benefits from your project?
Robert Weir – Yes we do. And yes we can. By becoming a Stak holder 😉
Q7. Lots of projects have appeared and issued their own tokens or coins, but many projects failed to disappear (SCAM) because they could not develop their tokens or coins, how did your project achieve success and tell us that your project is not a SCAM project?
Robert Weir – Because we build first and hype second. We would love to show you how far we have gotten with all our products but we will only announce when we know it is ready. Hype is great but this is where people get tricked.Yes our wallet will be launching within 2 months. We some very unique features. Medium articles will be out soon about our wallet,
Q8. In which regions of the world is your project succeeding? I know of Africa, can you tell us how has your experience been in those countries?
Robert Weir – We will be as global as possible.
Q9. Many new projects made a good impression at first but were suddenly abandoned. How will you manage Your project to gain a place in the market and become a best token in the blockchain world?
Robert Weir – By delivering products that are viable and used. Everything we do from brainstorming to development to marketing has a user first mentality. It needs to be viable or else we will not launch it.
Q10. How do you plan to spread your understanding of the project in different countries where spoken English is not good like me?
Robert Weir – We will be growing our team to have more language to support more adoption. Public Launch, 6 Products to Market , Fully DAO governance.
Q11. I’m a developer, and I’m interested in contributing to your project alongsides earning, Do you have any Bug Bounty to check for vulnerabilities?
Robert Weir – Yes we will. Our dev team will be putting a ANN out soon on how to join these exercises.
Q12. Trust and security is very important in any business , what makes investors , customer and users safe secure when working with your project?
Robert Weir – Knowing that all our products will be audited and tested by trusted third parties. By having a forward facing team who is held accountable to what we develop. These are what we promise.
Q13. 2020 covid-19 happened all over the world does it affect your project and development, will your team have a new direction for 2021 while covid-19 is still there?
Robert Weir – No it doesn’t as we all work remote and have great flexibility.
Q14. Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?
Robert Weir – Because we have a forward facing team, we audit our products and we are very transparent and try keep our community updated with everything as soon as possible.
Q15. Many Project talks only about their Strengths, Can You talk about the weak point that You project is Currently Dealing With?
Robert Weir – Good question. I think speed is a factor but we are not at a point where we are over worked and bandwidth all used up. We are working on building our team out further so we can keep momentum going.
Q16. So, do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?
Robert Weir – Yes we will have a buy back and burn program.
Thank you Robert Weir (COO) and Community for participating in the AMA. Have a nice day.