Recap of #AMASeries22: Crypto Olala x Gather Network and Mr.RAGHAV REGGIE JERATH.
On September 23rd 2020, GATHER NETWORK team and Crypto OLALA group organize an AMA to make the community members know more about GATHER NETWORK and what is its application? Here is recap of it:
Because of some personal schedule conflicts Mr.RAGHAV REGGIE JERATH — CEO & Founder Gather Network will not be able to join us for today’s AMA.
Segment 1: Introduce and Question Warm-up:
Moderator Mark:
Question 1: Can you introduce yourself and a little bit about the Gather Network?
Mr.Ayhan Gungor:
Sure, hi everyone again, this is Ayhan Gungor, I’ve been working as the chief marketing officer of Gather Network for the past year. My experience spans across 18 years in sales & marketing; worked in roles such as a marketing manager, product manager in a multinational manufacturing company within the energy industry for long years. Joined the blockchain industry in 2017, and since then worked in another PoS/MN blockchain project for community management/technical support, business development, partnerships & cross marketing, as well as administrative matters.
and as for Gather:
It all started with the simple idea — what if users could provide a tiny bit of their processing power, instead of being bombarded with Ads. — This is how it all started. — The full picture of Gather is as follows
Gather is a platform that allows publishers to monetize without ads, provides businesses & developers to access cheap and reliable processing power.
Gather Online (Layer 0) allows web & mobile developers to monetize from their users processing power.
Gather Network (Layer1) is the protocol layer, a hybrid proof of work and proof of stake blockchain, where stakeholders are incentivized to maintain transparency and security.
Gather Cloud (Layer 2) provides affordable processing power to enterprises and developers.
Gather Enterprise provides consultancy services and tooling for developers, businesses and crypto networks.
Moderator Mark:
Question 2: What are the benefits of users when using Gather Network and what are the highlights of Gather Network?
Mr.Ayhan Gungor:
Here are some of the benefits that we can list to highlight:
1- Gather Online can be easily integrated into websites/apps.
2- Gather Online allows website/app owners to generate additional revenue on top of digital ads, or let them go ad-free for an enhanced user experience
3- Gather’s Loyalty program allows website/app owners to reward visitors in GTH/BTC or local fiat currency for the time they actually spend in websites/applications
4- Gather Cloud provides affordable cloud computing costs via processing power coming from publishers (there is no similar example in the competition)
5- Gather Cloud allows PoW blockchain developers to deploy without finding miners or building a mining community first
Moderator Mark:
2- Gather Online allows website/app owners to generate additional revenue on top of digital ads, or let them go ad-free for an enhanced user experience
5- Gather Cloud allows PoW blockchain developers to deploy without finding miners or building a mining community first
I like 😆😆😆😆😆
Segment 2: Question Selected from the Twitter:
Moderator Mark:
Question 1: One of the biggest issues for dapps is onboarding. What solutions have Gather Network team found to try to resolve this problem?
Mr.Ayhan Gungor:
Alright, so we’re recently seeing questions about dApps and the good thing is we have a solution to incentivize them :)
Gather Online allows developers to build dApps which can let them generate additional revenue in GTH, BTC or local fiat currency. In addition to this, with the partnerships we are establishing, we add the ecosystem’s native token as a new payout selection.
Using Gather’s loyalty program, developers can also reward their dApp users for the time spent on them so it creates a positive feedback loop where users and the developers are incentivized. We look at providing as many additional benefits as we can — when it comes to dapps
Moderator Mark:
Question 2: Do you think Decentralized AI Space will get adoption? Also, how Gather Network will be the shining star in the blockchain industry? Which are the uses of GTH tokens in Gather Network platform?
Mr.Ayhan Gungor:
Yes, definitely. With the increasing cloud computing applications in the blockchain space, adoption rate for decentralized AI will increase. In our case, with Gather Cloud, we will also be able to approach companies working on the field of AI/Machine Learning and similar where there is a need for higher compute power in an affordable way.
About the token use cases:
GTH’s value is derived from being as a medium of exchange within the ecosystem along with providing holders the opportunity to vote on the future of Gather. The specific features that use $GTH as a medium of exchange include:
1) Gas Fees and network interactions charges, settlement and processing power related charges for the Gather Cloud, and Settlement of Gather Online Rewards.
2) Providing a financial incentive to nodes to act honestly.
3) Entitling Staking holders with the right to participate in the governance and future of the Gather ecosystem
I’ll use an image here to provide better context
Moderator Mark:
Question 3: Congratulations! Over the past week, Gather Network has had a lot of good news coming out. List GTH token on Bithumb, become a partner of Ferrum Network and prepare to partner with Decentr to monetize their platform. At the same time, Gather Network is also promoting Marketing by implementing quite a lot of AMAs in Crypto groups. So what is the target by the end of 2020 that Gather NetWork needs to achieve? Can you tell me more about the new products coming soon?
Mr.Ayhan Gungor:
First of all, thanks very much. We’re trying our best to spread our efforts within different communities, this is true :)
For the question itself; We are putting heavy focus to development and continue our marketing activities in the meantime with activities such as this one but also by establishing further partnerships. By the end of this year, we want to bring our testnet live within 3 months and achieve main net status in 6 months.
Moderator Mark:
Question 4: Why do you choose to build GTH Token on ERC20 instead of other blockchain such as BEP2, TRC20 or your own chain while ERC20 platform is less scalable and very slow ?
I also have a bit of a question when ERC20 is now a network with quite high transaction fees, even it is often congested
Mr.Ayhan Gungor:
I believe there is a misunderstanding here as Gather Network will have its own mainnet.
GTH tokens are currently in the form of ERC20 — this was for easing the token presale activities.
GTH ERC20 tokens will be swapped in 1:1 ratio with GTH coins with our mainnet release. As mentioned just before this question, we plan to bring our testnet live by the end of 2020, and move forward to our mainnet by March 2021 :)
Moderator Mark:
Which means ERC20 is just Gather’s early-stage platform to help with token distribution. And the main network will be launched after the mainnet.
So, after the mainnet is full, will the remaining GTH tokens at ERC20 be burned?
Mr.Ayhan Gungor:
All will be swapped to GTH coin to be on Gather Blockchain (in 1:1 ratio)
Moderator Mark:
Question 5: Currently, Staking is popular in any blockchain project to encourage investors to hold tokens and make it a strong project ecosystem. Is Gather Network supported? If yes, what are the requirements for nodes and verifier nodes?
Mr.Ayhan Gungor:
So, this question is also somewhat connected with the earlier ones here. I’ll reply.
Gather tokens are currently ERC20 (on ETH network). Once we go live in our mainnet, we will have our staking nodes and master nodes. For staking, there will not be a minimum requirement, as anyone earning revenue in GTH will be able to hold their coins in our web staking wallets and earn more via passive income. For the masternodes, there will be 250,000 GTH collateral requirement, masternodes will be providing better returns compared to staking. (Please see the utility image I shared above for some details)
However, till we release our mainnet, there will be staking programs as ERC20 token as well. For example, we had a staking program with Bithumb Global which has been recently closed. And with our partner Ferrum Network, new staking programs will be launched very soon.
Please read more about our partnership details on this link: https://bit.ly/Gather_Ferrum
Segment 3: Free Q & A between the community and Gather Network.
Question 1: You organized an AMA session very rewarding and received a lot of questions related to utilities and technology, future vision, …So now I want to ask what do you want to receive from the community?
Mr.Ayhan Gungor:
We expect our community to share & spread the news about Gather, to support us in the social channels, basically we want to grow together with our community as one.
We are open to feedback to further develop our products so this can only happen by a mutual relationship where the project listens to the heartbeat of its community :)
We already started establishing local communities, we will check the level of interest in these ones first, will try to expand them with different marketing activities. Some of them can be found here:
Telegram
English: @GatherNetwork
Announcements: @Gatherannouncement
Russia: @GatherNetworkRussia
Indonesia: @GatherNetworkIndonesia
Turkey: @GatherNetworkTurkiye
Korea: @GatherNetworkKorea
India: @GatherNetworkIndia
Vietnam: @GatherNetworkVietnam
Japan: @GatherNetworkJapan
Question 2: Projects that are not traded on major exchanges remain unnoticed. What do you think about listing the token on the leading exchanges?
Mr.Ayhan Gungor:
We will be making more connections and announcements about the exchange listings. I can tell you that we are already working to make this happen as we listen to our community. However, due to the nature of these cases, we are not in a position to mention anything that can create speculation due to NDAs. So I can only suggest to join our channels for now to wait for future announcements :)
Question 3: Regulation is very important. Many projects were closed in many countries due to failure to use the correct REGULATIONS and PERMITS In order to go global; how does the Gather’s team deal with these issues?
Mr.Ayhan Gungor:
We take global regulations very seriously, our in house counsel is a former securities specialist and have deep rooted understanding about FDI etc — we do work with out house counsels from time to time. This helps us mitigate against different aspects of global regulations. In Regards to Privacy: Gather is built on the notion to protect privacy. We believe Privacy is fundamental right, world over and not a privilege, as such we do not collect PII from end users. However due to global regulations, Publishers do have to provide related information when using our partner off ramps.
Question 4: Can you tell us the roadmap of Gather ? and what have been achieved and what are you trying to achieve? as well as obstacles in achieving it?
Mr.Ayhan Gungor:
Both for Gather Online and Gather Cloud, we will continue building new relationships with publishers, enterprises and PoW blockchain developers.
We already have around 200 publishing partners via Early Adopters Program so far, including names like ThePioneer (India’s oldest newspaper), TheDailyChain (a crypto news site) and Metalyfe (a new web browser). We will be running campaigns to raise the awareness of Gather Online as we get closer to the mainnet launch but in the meantime we will carry on and bring more partners with our B2B marketing efforts.
We’re currently testing Gather Cloud with Godrej Industries ($4B+ turnover) and we got ASAP Industries on board for the enterprise side. As part of our B2B business development efforts, we will also continue adding new enterprises.
Again for Gather Cloud, we are also building new connections with the other PoW blockchain teams where we can use their algorithms as part of our Merged Mining concept. For example, LUX chain is our first partner on this front.
Question 5: Can you tell us how GATHER will be generating revenue and income to maintain a profitable business?
Mr.Ayhan Gungor:
Gather generates revenue from all layers of the network, which includes publishers/websites/applications at the start and enterprises using gather cloud at the top. Gather will charge a commission to websites/publishers/applications using the Gather technology. The processing power generated from the websites, is then redirected to child chains through merge mining and/or enterprises on gather cloud.
Hash rate leased out to child chains to increase their security will be lower than market price. Enterprises that are using Gather cloud will also be charged at a discount to market rate (determined by google/AWS rates) for the processing power used by them. The majority of this revenue will be redistributed back to the publishers with Gather keeping a small portion as the commission, and thus keeping profit linked directly to growth of the network. This creates a positive feedback loop where increased publishers using Gather online means more processing power can be redistributed through Gather cloud which in turn increases the revenue of Gather online users, attracting more customers to gather online leading to more processing power and so on.
Please also check our token economy model with regards to supply/demand mechanics here: https://gather.network/docs/Gather_Token_Economy.pdf
Thank you very much for hosting Gather here today and for the amazing questions.
For any further question, please follow Gather Network social accounts below and join them. We’d be happy to reply :)
Have a great day everyone!
AMA is ended.
📍Information Gather Network:
•Social Media :
➡️Website: https://gather.network
➡️Twitter: https://www.twitter.com/Gather_Network
➡️Facebook: https://www.facebook.com/GthNetwork
➡️Reddit: https://www.reddit.com/r/GatherNetwork/
⭐️Telegram
➡️English: @GatherNetwork
➡️Announcements: @Gatherannouncement
➡️Russia: @GatherNetworkRussia
➡️Indonesia: @GatherNetworkIndonesia
➡️Turkey: @GatherNetworkTurkiye
➡️Korea: @GatherNetworkKorea
➡️India: @GatherNetworkIndia
➡️Vietnam: @GatherNetworkVietnam
➡️Japan: @GatherNetworkJapan
