AMA (Ask Me Anything) 31/08/2020

Here is the transcript of the AMA in our Telegram room on the 31st of August 2020.

Q: When will Mass Marketing start?

Answer: When multicurrency is complete! Right now we continually do small marketing, but not mass marketing because the onboard ramp is too high.
most dapp users have already been marketed to.
The next step is to market to other token hodlers like btc, bnb, ltc etc.
This will happen when multicurrency is done. I’m trying trying to setup one day of tweets, from major players also with our addition to the blockchain game alliance, we have access to players like matic and makerdao allowing us to integrate their token, and have the news spread by doing this, we should have most of the crypto users tied down

Q: You have mentioned multicurrency, this question has been asked a lot as well. Can you let us know when we will have multi currency implemented into the game?

Answer: Yup, and rightfully so. We want to make sure that we fix lingering issues and make sure we simplify the newbie guide at the beginning and make sure new users understand whats going on. So we are working on all of this to get ready for multicurrency. I try my best to give timelines, but i know how the community reacts when we are late : ). so i rather not give an exact date, but what i can tell you is that any BTC (btc, ltc etc.) chain tokens and erc20 tokens are done but there are ones that are a bit harder, such as xrp. I estimate we should be good to go in two weeks, but don’t hold this against me if we are late its more important to get it done right.

Q: Why have we introduced decay after stage 25? Have our number of users dropped of because of that? What will that decay look like?

Answer: Number of multi accounts has gone down after the first decay was implemented, but there are still some bad actors out there. As i mentioned multiple times, we need to protect SOUL hodlers. We have brainstormed many different ways to stop ppl from mining cheap and dumping. This is the last thing that any of us want.

By introducing a further decay starting chapter 25, this will remove another portion of bad actors, which is better for all SOUL token hodlers.

I know many of you have been worried about the decay, but from what we see the first decay introduction actually helped the token price as well. From Chapter 25 onwards, the decay will take longer and it will not be below mining cost. But now bad actors need to think about effort/rewards.

We want to make sure that ppl who enjoy the game are protected, and this is what we will continue to do. Another thing I hope that everyone understands, is we do not hold any SOUL, except for ones we buyback from the market to give out for rewards in events.

We made this decision because we want hodlers to know that we the devs cannot dump tokens and tank the price. Given this, we have shown that we always protect SOUL token hodlers, and anyone who is trying to hurt true hodlers we will find ways to deter them from doing so.and as you have seen, we continue to update the game bi-weekly, and continue to introduce new mechanisms and systems to increase the use of SOUL. This is our responsibility, and we take this to heart.
Yes sometimes changes don't’ happen immediately, but there are many things to consider. This is also why we continue to take feedback from the community, because I believe that as devs, we do not have the right answers to everything. But by focusing on the community and taking feedback, we are able to see a different perspective, and try our best to come out with the best possible solution, everything considered. what i can guarantee, is that we continue to work 18 hours a day for SOUL hodlers, and we will continue doing that.

Q: Team says they are concerned about preserving the value of soul and protecting soul holders, however, soul price is largely dependent on dividends.

Answer: That i do not agree with. because SOUL is not just used for drops, SOUL has other use cases in the game, its a hybrid utility/security token, which we are still trying to perfect.

Please understand that this has never been done before with any game or dapp (at least from what i know of).

SOUL price will always go up and down, just like any other token. Same with drops, it will be up and down everyday, but i believe we have proven through our tokenomics and operations that we put out different systems and events depending on the economic changes.
I’m guessing the next question will be why divs so low?

Q: Yes, “Why divs low”

Answer: haha thought so : )
divs will not be the same everyday!
Not everyday will there be a use to summon cards as an example. And as I noted above we develop systems and events depending on the economic status of the game. For example, right now the tesla event, its not to increase divs, if it were to increase divs we would have just made it so you must summon.

The event was more for burning SOUL, which we have accomplished. More importantly its a way for us to give back to the community through gamification. Remember if you participated in the event and you have 1000 stars and above, and if not all the prizes or won, then you will get a share of the rewards according to the amount of stars that you have.

This is also crypto given to players just not through the div pool. i just want ppl to understand that its not always about the souldrops, because we will find other ways through events etc to give back to the community

Q: To the next question it gets asked a lot as well

*the prices of hammers etc and in general ETH

Can we change it to a stable price ie USDT?

Answer: we are working on a solution, but it will take some time. This is where there is some misconception as to how easy or hard it is to make such a change.

Trust me when I say, if it was an easy fix, we would have done it already. But because the whole game was developed based on ETH, if we change this now that will more or less mean we have to re-develop the whole game.

Sometimes with software, the change might seem easy to the eyes, but when it comes to coding its much more complicated than it seems.

Q: Allowing multi accounts with 60 accounts sharing characters just hurts the value of soul and everyone's holdings. Why not fix multi account abuse instead of punishing everyone with decay which doesn’t stop multi accounts in the first place?

Answer: As i just mentioned, that is what we are tryign to do, and the decay will achieve that, as we saw with the first one. again for these ppl its about effort/rewards. We have already cut their accounts by more than half. This is unique visitor per day.

We can see thats its been steady with multi accounts diminishing. Which is a good sign for all of us. We have also been trying to expand the korean community with our mod @C0JUN , and it has been quite successful in my eyes, as there was a immediate increase of Korean traffic. I guess that was more to answer the marketing question haha.

Q: Recently, there seems to be a lot of interest in Defi in the coin market. Is there anything you are preparing for the Soul Token related Defi?

Answer: Well it depends what you consider defi. Technically SOUL is already defi. I explained this during our huobi AMA. Most ppl are just looking and borrowing and lending, which is only a small part of defi. With SOUL we cannot go full defi, since its also a utility token, but it also has defi elements such as soul drops. We have had multiple meeting the past two weeks, exploring different ideas on how to add other defi elements within the game. Once we come up with a good solution I will be sure to share

Q: How far are we from releasing our own wallet?

Answer: So that wallet is quite complicated. There are few things we wanted to accomplish

1. have a decentralized wallet
2. have a centralized wallet
3. have a HD wallet

Right now the decentralized wallet is complete, the HD wallet will also be complete soon. The centralized part is a bit tougher as we need to make sure all security features are intact.
Secondly, we wanted to make sure that we make it easy for users to play dapps.

One issue you see with most wallets nowadays is that you have to change which chain you are on in order to play a specific dapp. For example you are an EOS user, you will have to select the EOS chain in order to start chainz arena. What we have done with ours, is that we make it so it detects which chain the dapp uses, and whether you already have a wallet for that specific chain, if you do then it will auto use that wallet. If you don’t, then it will prompt you that you do not have such wallet on such chain and ask you to create one.
We want to make it so that this wallet can easily allow players to play all sort of dapps.
There are also 2 more things going into the wallet — — which i cannot share at this moment : )
hopefully it will be game changer : )
It will capture your SOUL (pun intended)!

Q: Hero and NEFT’s When?

Answer: let us release the new elements, and we will get to that : )

This wraps up the AMA. We will hold another AMA approx 2 weeks from now. When we can share more information with you on Multicurrency and much more!

Thank you for reading!