Hi Everyone! Welcome to another BeInCrypto AMA Session
Today we welcome Arthur (@Artfl) and Flavius (@FlamaTokenomics), who are respectively The Founder and Marketing Core Team of The COOP Network.
BeInCrypto (BIC): Community here is how things will work. I’ll have 10 questions for them. After these questions, they will pick up 5 out of all the questions you asked before the session. Good luck to you all!
(This AMA has been edited for clarity)
BIC: Let me start >> I would like to ask you something general to kick things off, so please provide some personal background as well as some references you guys looked at before creating The COOP Network.
Arthur: My name is Arthur (The Founder of Coop Network) and I have been in this space a long time and I have been following many projects. I did research on at least 3000 projects. I have been scammed by ICOs, burned by rugpulls, and made a lot of money by so-called investors. The thing is that blockchain was not invented to sustain scammers and scavengers, it was made to give normal people the power to create a shared economy. And this is exactly what we do with our project. No presale, private sale, ICO, IDO, IEO, or whatever. We want to see the power of the people.
Flavius: Ok, so my name is Flavius and I am 29 years old and my last 13 years were in online businesses. Had a break in 2016-2018 growing offline businesses (cultural tourism, fashion clothes, and more). For the last 3 years I got involved in company auctions and then (re)entered the crypto world. I also own a SaaS program, for Funnels & Websites Builder (designed for Romania and the East of Europe). My expertise is in the selling industry, marketing and branding, crypto projects, learning, and teaching. I had several crypto projects in the core team or executive as a marketing head, advisor, consultant, or coordinator.
Right now I am in the Marketing Core Team of The Coop Network and I am very bullish with $GMD 💪
BIC: Nice. The structure you use can be new to some members so could you please explain the GEOMA DAO COOP model to us?
COOP: GEOMA DAO COOP is registered in Romania, an EU member country. Unique EUID: C32 / 4/2020. The law governing the COOP is as follows: LAW no. 1 of 21 February 2005 (* republished *) on the organization and functioning of cooperation. In addition to the basic law, the government grants 0 profit tax and 0 land and building taxes for the first 5 years of COOP’s existence.
BIC: Great! What current challenges/problems do you want to solve?
Any new technology has value only if it is implemented and used in the real world. Implementation requires, among many other things, compliance with the legislative regulations in force.
THE Real World -> Our (real) world is changing rapidly and we should keep up with this change. Finding the right economic model for the near future, a model that distributes wealth and capital to participants in a fair and sustainable way is a must.
The Problem -> If we are not the initiators of change, we will be, unfortunately, witnesses to the “same old methods” by which the rich get even richer, while the poor become even poorer.
BIC: I noted some advantages of this model can be seen on autonomy, education, and Democratic Member Control (to name a few). What other advantages can you mention? How members/users could benefit from being part of your project?
COOP: DeFi solutions
Real businesses to create a circular economy and connect them via/through the blockchain:
– Medical Cannabis
– Vertical Farming
– Drone Services
– COOP Academy
– Clean Water
BIC: I see. Would you mind talking a little bit more about some killer features we are able to see on The COOP Network? Maybe those resources that really make you stand out!
COOP: Key things:
✅ Leasing (similar to staking), get 3%/ month in rewards;
✅ Forging (similar to validators), get the rewards;
✅ NODE creation, get 15% APY;
✅ Burning Program (deflationary coin);
✅ Buy-Back program (25% from the profit of the real businesses will get back into the coin).
BIC: Cool. It’s time to introduce your native tokens to our community! What do you have to say about GMD in terms of tokenomics and how does it fit within your ecosystem? On top of that, it looks like you have two token models, right?
COOP: The GEOMA DAO COOP has two coin models:
– The first one is a Security Coin. These coins represent social parts in the COOP and are dividend bearers.
Token supply: 1M
The launch price for one COOP-S is 2.1 USDT. The minimum amount for one contributor to becoming a Member with full rights is 10000 COOP-S. The price for one COOP-S will increase proportionally to the value of businesses created
– The second coin is the Utility Coin. Utility Coins are digital assets that are used to finance the Network by providing its buyers with a guarantee of being able to consume some of the network’s products. This Token is the backbone of the Coop Network. It is used for Gas, for governance purposes, for general DeFi activities and to secure the Blockchain.
Total supply: 1 Bn
Circulating supply: 400M
Max supply: 500M
Safety and Burn Wallets: 50% (Locked Forever)
Airdrops & Marketing:: 13%
Devs (locked for 3 years, then vesting 10% each month): 10%
BIC: Interesting. Where can one purchase your tokens now? Where are they listed?
COOP: Right now you can buy GMD from the following exchanges:
– Changelly / Changelly PRO
BIC: Several projects currently use some strategies to maximize the number of holders. What are some of the benefits for those ones who hold your tokens? Do you also have a similar strategy?
COOP: Buyback Policy: 25% of the profits generated by the COOP as an enterprise will be used to buy back GMG – the coins will be burned.
Burning Program: for example at every 1 NODE that is verified (Hallmark) we burn 100k of GMD, to encourage decentralization.
Leasing – Lease your account balance to COOP and get a 3% reward/month
Forging is like Mining for PoW.
BIC: What do enthusiasts/investors can expect when it comes to future plans? What do you have in mind for The COOP Network in the next few weeks or months?
COOP: Tier 1 Exchange Listing
The first production of the CBD oil
Real Life NFTs (soon)
COOP Play to Earn Game (soon)
NFTs Marketplace (soon)
BIC: Awesome, that’s it. I’m quite sure we’ve covered all the main topics today. Could you please share all the links to your Social Media channels so that our community can get to know The COOP Network a little better?
Community (COM): Can GMD holders support the platform for the future by participating in the governance of the Coop network? How do we participate in governance, can we make suggestions for future updates?
COOP: This is core for our platform. 1 member, 1 vote. And proposals are open for any wallet. even those with 1 GMD in them.:))
COM: You reported that COOP implements the true democratic governance model. How does this model differ from other governance systems, and what is the role of votes in decision-making within a COOP? How does this model add value to businesses?
COOP: The difference is that we have the feature of 1 member 1 vote. It doesn’t matter how many coins you have. Your voice is your voice. And you can’t have a representative. Either you speak your mind or stay still. Nobody will talk on your behalf.:)
COM: NFTs have become a major player of the Blockchain ecosystem this 2021- will your project take them into consideration? Have you developed any technology empowering NFT applications?
COOP: For us, an NFT has to be a mirror in the real world. This is why our first NFTs will have value because of the artist and then value because you will get for example a growing place in our grow facility which is yours alone. You make profits from the plant seeded there.
COM: In terms of Security, What work has been or planned from the following?
1- Have You gone through any Audits yet?
2- Have You Partnered with 3rd party Security Companies?
3- Do You plan to bring a Bug Bounty Program for the community?
COOP: Security is key. We have chosen an old code for now which was washed up and turned around many times.No no problems there. The only problem is a 51% attack but we solved it by locking 50% of the coins forever. Bounties will be performed into a growing community.