Coinbase Listing: Internal Aventus AMA
On February 3rd, Aventus Token $AVT listed on Coinbase.
On Friday 11th, Aventus CEO Alan Vey participated in a live Telegram AMA with the Aventus community.
The following is the transcript from that AMA…
AMA Begins
Aventus admin: In response to the recent AVT Coinbase listing, Aventus CEO Alan Vey has kindly agreed to join us for a live AMA to answer everyone’s questions.
The first portion of the AMA will be to answer those questions asked here in Telegram with #AMA hashtag.
Any time left over will be dedicated to any live follow on questions.
Let’s get started…..
Welcome @alanvey
Alan: Hello everyone!
- Q from Blake: #AMA
Now that $AVT is listed on Coinbase, is Aventus planning on implementing coinbase earn?
Alan Vey: The Coinbase listing process is a comlex one, the most advance we have experienced so far. We have various stages we need to progress through before everything is done and we are currently working on this. Once we have gone through all the phases, we are able to talk about extensions to add on additional Coinbase services. One step at a time but yes we will be going after all options with Coinbase, they are an epic partner.
2. Q from Blake: #AMA Also is Aventus planning on allowing people to participate with Aventus staking directly through coinbase in addition to the normal method.
Alan Vey: Staking is an opportunity for leverage with additional partners. We have actually been discussing running staking with a different partner so far to facilitate a listing there, however once we get through the coinbase process of course we will pick it up with them too.
3. Q from Blake: #AMA Is Aventus network, VereNFT or Coral planning on or are in the process of becoming a coinbase partner?
https://www.coinbase.com/partners/
Alan Vey: My first response answers that last query too, we want to be involved in the coinbase ecosystem in a major way, so yes we are pursuing all avenues.
4. Q from Blake: #AMA Has coinbase approache Aventus Network with interest of them investing in the Aventus token, the protocol or any other companies connected to Aventus Network, through their coinbase ventures fund?
https://www.coinbase.com/ventures
They have invested in a couple of scaling solutions and seems to be something they target.
They are specifically interested in protocols that scale Ethereum. Aventus network can do this and more.
They wrote a good article on scaling solutions:
https://blog.coinbase.com/scaling-ethereum-crypto-for-a-billion-users-715ce15afc0b
Alan Vey: We cannot comment on potential confidential deals. However I can give the general statement that the Aventus Foundation does not engage in OTC deals for the AVT token. The remaining reserves are allocated for grants that benefit the Aventus ecosystem as a whole.
5. Q from Chan M: Another question, I am a developer by day .. Is there any developer guide to integrate or play around creating use-cases in avnentus protocol .. especially at the layer-2 level..to create different channel domains (transportation, health, insurance, education etc.) #AMA
Alan Vey: Great to see your interest in building on Aventus! We will be publishing a new technical whitepaper and a variety of documentation on how to engage with the netwrok. Furthermore we are moving to Nominated Proof of Stake at the end of the quarter when the majority of our validators will be run by valuable third parties in our ecosystem who will also offer access. More to come very soon
6. Q from Mojo: Hi Alan,
Congratulations on the Coinbase listing, and the flying start for 2022 😁👍 (Here are some questions, choose whichever you feel are relevant.) Seeing as one of the top crypto exchanges has decided to list one of the best L2 scaling solutions 👏👏😆, do you think it might be the right time to reach out to Bitfinex & Okx, both of whom have AVT wallets, to see if they are ready to relist?
Alan Vey: Thanks Mojo, really appreciate the positivity. I have reached out to Bitfinex and we are hoping to finalise KPIs for community engagement for relisting. I am hoping to have a positive resolution to this in the next few months once we release more of the news we have been holding on to for the right time.
7. Q from Mojo: -I’m informed by a reliable source, AVT hodler wallets 16–30 display the transaction patterns of Coinbase cold wallets🧐, If they definitely are Coinbase wallets, shouldn’t those wallets be labelled as such? How do we get them to do so?
Alan Vey: If they are Coinbase cold wallets, I agree transparency is a big plus, but this is not our decision to make and we have not been given any information to be able to confirm or deny what you have learned.
8. Q from Mojo: -Once AVT staking is complete, how will users be incentivised to continue staking / re-stake?
9. -How is the AVT staking deposit reflected on the 10 AVT nodes on the Aventus network, as there seems to be no bridge communication?
10. -Please can you add an extra dial on staking.aventus.io to show a single figure for the total amount/percentage staked. (That would be much simpler than having to add up each validator independently)
Alan Vey: I think it is quite unlikely we will be able to get coinbase to do anything they don’t want to but always worth giving them feedback since we all value input from our communities in the blockchain space
The staking program will never be complete. We are just removing the liquidity lock. Anyone will be able to contribute any amount of AVT moving forward and earn their share of stake. But they will also be able to remove their stake at will. We are moving to a more liquid, free market model now that our tech has been stable in production for over a year
The Staking program is moving into the AvN so that everything can run much more cost effectively for those involved. We expect in the first year of staking to have generated about 7% of AVT staked in fees to stakers.
Great feedback, I will pass on your staking request for the new UI that will exist by the end of the quarter for AvN based staking, however there will no longer be a cap on amount of stake (except for the total AVT supply) so a percentage wont make sense we will just list total AVT staked.
11. Q from Mojo: -What’s the current cost to transfer ETH on AVT? (You can see the competition here as a reference: l2fees.info )
Alan Vey: The cost to transfer ETH or any other token on the AvN is £0.05–0.01 depending on the volume from the sender. We have a SaaS model to make things more understandable and simple for our corporate clients
12. Q from Mojo: -Uniswap version 3 contracts are now deployed to the Polygon mainnet, do you intend to do something similar this year? (perhaps with CowSwap?)
Alan Vey: Yes but it is unlikely we will build this ourself. We will open up grants for third parties to build the base DeFi building blocks on aventus like DeX, AMM etc.
We will do the quality control on the code before deployment and help select the winning submissions with help of our governance voting
13. Q from Mojo: -I see a lot of Aventus marketing for NFTs, but not so much specific to Layer2, is there a particular reason for this?
Are you wanting for the Gateway API to fully open first?
Are we going to see Aventus included in the #L222 hashtag on twitter this quarter or next?
14. -Is there an eta, as to when we will see Aventus on L2Beat, L2fees & DefiLama? (DefiLana now have L2s listed under the Ethereum network)
Alan Vey: Very observant. We have had a change in our staff on the layer 2 marketing front which is why there has been a delay on that front, but we have solved this now and have some exciting news coming about the future direction of our layer 2 solution and alignment with major T1s
We are currently investigating the various platforms you have mentioned. The team responsible has had their hands full with coinbase but now we are coming to the end of that process we will focus on those areas.
15. Q from Mojo: -Why isn’t the VOW partnership, and their progress mentioned more?
It seems there’s a lot going on there, and Aventus is the backbone tech.
Alan Vey: Bish and I talk frequently and there is lots of work happening in that space. As we have more an more transactions and major milestones together we will continue to market the relationship
16. Q from Mojo: -Have you considered a rebrand, it might be a good marketing opportunity to make more people aware of the Aventus enterprise grade, L2 scaling solution, (perhaps in time for when the APi is fully open ?)
Alan Vey: We feel we have a solid brand at this point in time but really liked what we saw polkadot do with their governance and brand and are looking at similar in the future but for now we are focused on talking about what we already have and pushing forward the deals so this wouldn’t happen for at least a couple of quarters
17. Q from Mojo: -Would it be possible to set up a public Trello so we can see what is currently being worked on, and for the community to share our requests, and like suggestions/requests they agree with? (or, perhaps put this to a community vote, to see who is interested, I certainly would be.)
Alan Vey: We intend to launch our governance: gov.aventus.io properly this quarter with the first votes being on who should be the nominated validators in the AvN. From there we will open up community proposals. We also intend to start properly ooen sourcing elements of our developemnt and will use GitHub issues etc to manage that feedback.
Our new whitepaper will also give much more clarity on the roadmap moving forward
We welcome any and all feedback!
18. Q from Mojo: -Is there currently a roadmap for 2022? All the best for 2022, Sincerely, Mojo : )
Alan Vey: Yes, we have gone many rounds with the Aventus foundation and the third parties auditors in agreeing and scoping this. Coming very soon in the updated white paper
19. Q from Chan M: Also what’s the status of REST APIs to integrate with Aventus network.. say enterprise apps that are deployed in Azure/AWS/Google cloud apps and want to have integration with Aventus network ..similar to IBM hyper ledger..do we already have this or is this something coming soon. If so which Quarter #AMA
Alan Vey: We already have this and have integrated our clients onto it and will launch is for public use by the end of the quarter. We refer to this product as the GateWay API which allows for some really nice features like batching (to further increase scalability) and proxying (to pay for fees on behalf of someone else).
20. Q from Chan M: Thanks I will have a look. Don’t think I am asking too many questions, but are there any plans to be in a marketplace (like Oracle marketplace, Cloud Blockchain apps etc). This would add more attention towards Enterprise firms. #AMA
Alan Vey: Yes, we intend to have a one click deployment of aventus validators as we roll out to more and more external parties operating the nodes. This is a roadmap item towards the end of the year
21. Q from Chan M: One last question, do we know which cloud provider Aventus protocol is hosted on? ( I mean the off-chain components of Aventus Ecosystem) #AMA
Alan Vey: Amazon Web Services
22. Q from Twitter:
Alan Vey: Yes! Please visit staking.aventus.io. It is almost completely full but there is still a small amount of space to earn your share of fees for the first year of production operations.
23. Q from Darko: Congratulations for the work you done! A bit off a topic. Did you by any chance heard about Vibrate (VIB token). They see themselves as becoming IMDB for music. They have a huge database of musicians with available analytical tools. They plan to implement booking on their platform. It seems a perfect match with your ticketing solution if you plan to go on with it. Any chance for cooperation? (Disclaimer: I own VIB and AVT ;-))
Alan Vey: I have not come across them but we have just started a new music partnership and you will see some cool NFTs from it soon and we are fleshing out that partnership in much more depth so we will reach out to them for sure
24. Q from Wang Lei: Hello! Alan, do you think AVT will be in the top 100 by the end of 2022 market cap, or what is your target market cap for AVT by the end of 2022? thank you
Alan Vey: I cannot comment on AVT price. We will continue to focus on the fundamentals, driving transactions to increase the total amount of fees available to earn and thereby total stake in the AvN.
Aventus admin: Thanks everyone for your questions and thanks Alan for your time! A big year ahead with more partners, more product releases, and more listings. Here’s to 2022!
Alan Vey: Thank you everyone, wishing you all a good weekend, chat soon!
What next?
You can stay updated with Aventus and the press, join the Aventus Telegram group and follow us on Twitter.
Again, to register for the Validator Program visit https://www.aventus.io/ecosystem/.
For more information on the Validator Registration Program and how to stake AVT, read this handy Validator Registration guide and read this handy ‘how-to’ guide.
