Welcome, OHMies! Today we bring another AMA. This time with the head of Giza DAO, an upcoming Olympus fork to be launched on the Fantom chain that seems to be amongst the most popular fork of that ecosystem.
Below you’ll find a transcript that summarizes both questions and answers from the event:
Q: Can you give us just a brief description of what your project is about?
King Khufu: We are an OHM fork on Fantom, we are about to finish our IDO within November. Our vision is to become the leading reserve currency in crypto and we will have an algorithm stablecoin backed by GIZA in the future.
Q: Sounds very ambitious. How long have you been working on this project?
King Khufu: For more than two months. We prepared the codes well before we opened our Twitter account.
Q: How many of you are currently working on the project?
King Khufu: We have 6 members in our team now.
Q: I’ve seen many questions in your discord and ours about your decision to do the testnet IDO. What was the thought process behind this?
King Khufu: We want to people get familiar with the process in advance, cause people on Fantom did not experience this kind of IDO before, especially we have a public auction market. Also, this can help us to upgrade the product and make people feel more at easy about its safety.
Q: Some of the most hyped Ohm forks, such as RomeDAO are inventing mechanics for a brand new way to incentivize participating in DAO governance. In the case of Rome, they are attempting to create an MMO game that’ll be rewarded for participating in the DAO governance, which helps create a very involved community. Do you guys have any similar plans in mind, even just at an early conceptual level? Egypt is a very popular theme after all
King Khufu: We definitely value the DAO most, and we plan to govern our protocol in a more reliable way. We will not make it a game, but we will also have incentives for the participants of governance and contributors from our DAO.
Q: I’ve seen you recently partnered with Hyperjump. Do you have plans for future collabs with other protocols as well?
King Khufu: Yes, and we are contacting some projects on ETH now, they wish their assets have more adoption and we will launch various bonds in the future, including the wsOHM bond. We are pretty bullish on OHM tokens.
Q: You seem to have a lot of plans for the future success of your fork. What kind of marketing strategy do you have in mind going forward?
King Khufu: We have red triangles. And I think the best plan for marketing is the price of GIZA tokens, the team tokens will be locked up for a year and the holders are very decentralized, I believe people can earn a lot from GIZA tokens.
Q: Any reason that you picked the Fantom chain over others?
King Khufu: Fantom is cheap and its ecosystem is pumping. There were no other OHM forks on Fantom when we decided to launch on it. Also, Fantom has a very good incentive program, we plan to use the incentives back GIZA tokens in the future once we are eligible.
Q: What makes your project unique and how do you plan to compete with other forks on the chain? We’ve seen Hector and Spartacus struggle for a while but now they’re coming up with pretty interesting concepts.
King Khufu: They may have a pretty good size now, especially Hector, but you can see their all upcoming products are forks, they have no innovation. The next product of GIZA will be a newly designed algorithm stablecoin based on former ones, we think it will be larger than the IRON token on polygon before, and no bank run will happen. We do not care about other forks on Fantom or other chains unless they have any innovation.
Q: Do you plan to allow borrowing that stablecoin with staked giza as collateral?
King Khufu: No, we will allow using GIZA to mint the stablecoin. Giza will be a reserve for the stablecoin.
Community Questions:
Q: Have you onboarded new devs since King Tut left? Or is it the same team minus him?
King Khufu: Our devs are always the same, tut is not a dev, he was mainly in charge of Discord before.
Q: What assets do you plan to hold as backing for the currency?
King Khufu: In the beginning, we will use DAI and DAI–GIZA LP. We will also use wsOHM and RAI as a reserve currency in the future.
Q: First time im seen test net for this kind of project! Do you plan to become cross chain?
King Khufu: No, we will foucus on Fantom first.
Q: Do you plan on getting audited?
King Khufu: We are a clean fork of OHM, in the beginning, we will also update our codes before launch, team members finished KYC and we plan to have an audit after IDO.
Q: What will make you different from the other 30+ forks coming out now?
King Khufu: We will have a new algorithm stablecoin backed by GIZA as our second product. The apr of stablecoin would be very high, people will mint a large amount of it, but they need to buy GIZA first. Our team tokens will be also locked for one year, which shows our confidence in the long-term value of GIZA tokens.
Q:Are you thinking of a price ceiling like Temple DAO?
King Khufu: No, we will have the same model of OHM.
Q: Do you have any marketing plan for 2021? If so can you give us what will you be planning to do to reach and convince more investors? It is important to provide not only economic benefits but also security. How is GizaDAO security situation? Will the contracts be audited? When? There’s 3,3 together with OHM and many forks, do you plan to have something of similar functions?
King Khufu: We will cooperate with more projects in the future. Team members have finished KYC, we are a clean fork of OHM and we will have audits after IDO. Yes, we will cooperate with HyperJump in this.
Q: For a project focusing on a long-term market, with the upcoming bear market, does GizaDAO have any plans about it?
King Khufu: We do not think there will be any long bear market for crypto now. Because blockchain already has application scenarios. Blockchain is more like the early internet.
Q: What is your greatest long-term goal?
King Khufu: Become the leading reserve currency protocol in crypto.
Q: I noticed you haven’t made a Reddit yet, could you implement this? More reach, more members and more hype.
King Khufu: We will make a Reddit in the future. Thank you, guys.
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