PhoenixDAO x The Gem Hunters AMA Recap

PhoenixDAO

15 min readJul 1, 2021

Host:

Welcome guys it’s a pleasure to have PhoenixDAO back with us today!

Kyle:

Hi everyone, great to be here. Crazy to realise that it’s been a year since you last hosted us!

Monte:

Hello TGH. How time flies? Nice to be here again.

Host:

So as you just mentioned it’s been pretty much one year since we had you with us, and you know that it’s like 20 years in crypto. So could you please give us another introduction of what PhoenixDAO is all about and what you’re trying to achieve? Could you also give us a brief update on what you’ve accomplished since our last AMA?

Kyle:

You’re right. One crypto-day is equivalent to one-year in reality. I believe amongst many factors, it’s primarily because there’s so much happening around new emerging technology being thrown towards us all at once.

PhoenixDAO is not exempted from this rapid growth of the Blockchain and Crypto space. Just so you have a refresher on www.phoenixdao.io

PhoenixDAO is a community-led project that’s found at the juncture where we are seeing huge growth and maturity of decentralized governance (DAO), decentralized finance (DeFi), and the new digital economy where NFT’s and content ownership. PhoenixDAO’s ecosystem is built around some in-house protocols which include — Identity management, authentication, payment, and tokenization protocols.

We celebrated our 1st anniversary in May. Within this timeframe, we’ve seen some juicy partnerships, exchange listings, community growth, product launches, and of course progress along with our roadmap. The image below summarises some of the key milestones.

https://phnxdao.medium.com/phoenixdao-turns-one-the-year-in-review-7be713af5243

Host:

Good stuff thanks for that 👏. And congratulations on the anniversary, been a crazy year.

Could you please also give us some information on the team behind the project and what your backgrounds are?

Monte:

Refresher I guess?

I’m Monte Thomas the Partnership Director of PhoenixDAO and one of the co-founders. By training my breadth of experience covers Engineering, Data Analytics, Business Development, with a Degree in Digital Currency/Blockchain. I’m always looking out for opportunities that will be mutually beneficial for the project.

Kyle:

Across the board…times are crazy. Seeing adoption now being inevitable with what’s happening across the globe on a macro scale.

Sure, having the right team is key to success especially when it comes to a startup. We have a multi-prong approach when it comes to the current team and future growth.

To start for those of you who aren’t familiar with PhoenixDAO I’m Kyle, my role within the project is that of Communications director. That said the core team are very much that ‘a team’ and collaboration is key, we have worked extremely hard to maintain a strong relationship between the four core team members and our partners.

I personally have around 15 years of business experience from being hands on to running a development agency servicing digital in retail, being able to deliver technology in a meaningful way has always been a passion. Also being able to install 30-foot video walls in Victoria Secrets was a perk 😁.

As for PhoenixDAO’s phased approach.

PHASE 1 — Launch — to-date

Launch the project with the 4 core team members;

- Syed Fahad — COO of www.xord.one and Blockchain Director of PhoenixDAO

- Monte Thomas — Partnership Director of PhoenixDAO

- Clement Hugbo — Creative Director at PhoenixDAO and co-founder of www.crevatal.com

- Kyle Gibson — Communications Director

As part of phase 1 we have been trialling various ambassador programs and other soft initiatives however, the main purpose of these has been to offer our community opportunities to do more and as a study for the project around running remote decentralised teams.

We’ve been able to take this approach by partnering with some amazing companies within the space;

- Numio Product development and business consultation

- Luna PR — Luna work with us as our marketing division

- Xord — Development division of the project giving us access to a dedicated team

- Crevatal — Access to a specialist team of frontend UI/UX designers

This phased approach has been amazingly successful so far as having the key infrastructure built is paramount to see our goal of becoming a fully self-sustaining, decentralized organization come to fruition. As the tech roles out we will begin to transition into Phase 2.

PHASE 2 — Going fully decentralised

Once the infrastructure has been launched and battle-tested (this includes DAO, 2–3 flagship dApps and the dApp store) the team will look to go fully autonomous and give control over to the community. This will also see key areas of the project requiring initiatives to encourage individuals to participate in servicing the project. This may also see a wider team being formed to service the project however, this is something that is still being discussed internally.

Sorry I know this is a lot but I’m trying to keep it tight 😁

Host:

No worries, doing proper research on a team is crucial.

Kyle:

100% agree

Host:

Now let’s get more into detail. A special protocol for digital identities is at the heart of PhoenixDAO. What exactly is that and how does it differentiate from existing digital identity protocols? What other products are enabled through your digital identity protocol?

Monte:

DID is quite a bogus term in this evolving space. Let me try to give a simplified explanation that’ll make you understand what PhoenixDAO Identity protocols is meant to do. Decentralized identity is a commonly discussed trope in the blockchain/web3 space that hasn’t had much to show. However, its potential is one worth paying attention to. In a world full of identity theft, of which 14.4 million people fell victim in 2018, threats continually persist. However, blockchain technology’s decentralization provides a fighting chance, especially in a world where personal information is a currency.

The point of decentralized identity (like the PhoenixDAO Identity Protocol) is to put personal data back in control of the people. It eliminates the process of companies taking and selling information, profiting at the expense of the user. This is done via tokenization. From the username to an email, each part of an online identity is represented via a token. That’s the problem PhoenixDAO’s Identity and authentication protocol aims to solve.

That token provides a user the power to control who and what can see such information. For example, someone going to the doctor could choose how much information is passed over, such as their medical history, name, and address. The user can then ensure permission is only granted to that doctor. The group can’t sell that information to another company.

Not only this, but it remains impossible for a bad actor to pose as that user. This is thanks to public and private keys, an idea carried over from traditional cryptocurrency wallets. Basically, a user creates corresponding public and private keys that represent their identity on a blockchain. The public key is then stored in something called a Decentralized Identifier (DID) — accessible via a decentralized network.

Read more about how we enable this in the article here: https://www.cryptocompare.com/coins/guides/how-blockchain-can-prevent-identity-theft/

Host:

Honestly amazing explanation 👏. Would love to take quotes of that for our educational content on our website. Complicated stuff explained so that it seems easy 👌.

Monte:

Nice. Just reference PhoenixDAO😁. DID is going to take ownership and NFT to another level.

Host:

Will do.

Let’s speak about your other products such as Phoenix Authentication & of course Phoenix DAO. Can you give us an introduction of these products and what they actually are? How are they progressing development-wise?

Kyle:

Sure I’ll jump in here.

When it comes to protocols these are primarily being utilised by our team on an ‘as needed basis’ to build our and our partners solutions rather than them being at the forefront of our sales push, one of the key drivers for this approach is because building an ecosystem from the ground up is massively complex before you start thinking about protocol integrations and their go to market strategies. We felt starting with the community friendly, front end applications and infrastructure would get PhoenixDAO ahead of the game…so far it seems to be working.

To give an example of our Authentication protocol, let’s use a user case. With DIDs there are also authenticators involved to verify the credentials. Alice needs to prove to a bookstore that she is a student of XYZ university to get 10% off. she will just provide her identity (signed message) to Authenticator (because the bookseller trusts the authenticator). Authenticator then verifies the credentials and issues the certificate that Alice is a student of XYZ university. That’s the role of Phoenix Authentication, It provides an interface for authenticators. Numio our licensing partners already have this in their app architecture/flow. You can check their app on Playstore to have a feel. https://play.google.com/store/apps/details?id=com.numio.pay

Something to note that currently our focus is on the DAO platform, we’re now running the final rounds of testing meaning our public launch isn’t far away at all. Not only is there massive amounts of work being done from a development and technical perspective but also to ensure a good public reception we’re now working heavily on marketing, user guides and all that jazz.

As part of the pre-launch we’ve been pushing out quite a lot of PR, here’s one of the latest articles; https://cryptodaily.co.uk/2021/06/how-the-upcoming-dao-will-spearhead-governance-process-in-phoenix-dao

Monte:

Since you touched on the DAO, let me add. We’re in our final testing round before it goes public. Perhaps you have experience using/testing a DAO, we need you. Check this announcement. https://twitter.com/phnxdao/status/1408373509579894788?s=20

Host:

You also went through a complete design overhaul right?

Kyle:

It’s funny, so many 15 hour days have taken their toll haha. Yes correct, just this year we introduced a complete rebrand, we’re also moving close to launching our new UX/UI version of events.phoenixdao.io

Host:

Oh wow didn’t even know about that one.

As you’ve already mentioned you’ve been working closely with Numio for a long time — we would love to know on what you’re working with them and understand the depth of your collaboration. Also, on what products are you working with them?

Monte:

Yes, Numio are our oldest partners. The relationship is quite varied and covers not only product integration but also product and business development.

On the product side we have been live on the Numio app from day one and, because of this, we are one of a privileged few crypto projects to be live on the Layer 2 Scaling solution zkRollups. With v2.0 of the Numio app on the way we will start to see some new promotions going live on the app https://www.numio.one/numio-developer-update-16th-june-21/ . The app is of course built into the DAO to bring a unique layer of security, not only ensuring we’re able lock out bad acting but also ensure good business practice.

But it’s not just about products. The team at Numio have been there consistently helping out with the building of the DAO over the past year, from development work on the events dApp to making introductions to other crypto projects. We’ve had a lot of fun working together and expect things to really start heating up with what they’re close to announcing.

Here’s a couple of useful articles on our relationship with Numio.

https://numio.one/numio-x-phoenixdao-partnership-update/

https://medium.com/numio/numio-working-with-phoenixdao-integrations-in-progress-72c4deaba4c6

Kyle:

It’s been a little under the radar simply because the DAO launch and V.2 of our staking.phoenixdao.io platform so close but yes we’ll be bringing all of our solutions into line from a brand perspective over the coming months.

Monte:

We can discuss more about that after this AMA. A great tool to let your community get NFT tickets to events (free/paid)

Host:

Now that could actually be a whole project on its own.

Kyle:

That is the plan. We will be launching these products and then over time building them our to drive growth to the ecosystem.

Monte:

Hahahaha. It is. The Event Ticketing Industry is a Billion Dollar industry and with the Events dApp, we’re positioning to snag a fraction of that market.

Kyle:

Travala.com absolutely love this, we’re actively working with their CMO to collaborate. The new version will bring in the first part of our affiliate partnership with Travala.

https://phnxdao.medium.com/phoenixdao-launch-nft-event-marketplace-on-polygon-formerly-matic-network-the-launch-9d7bc22b44c5

Even I forget how much we’ve achieved.

Host:

👀

Monte:

Blockchain-backed ticket bookings (which are NFT’s) for different types of events can become a thing faster than we think. Quite a lot of good articles we have out there about our solutions. I’ll share our various news links so you can check at your convenience

Host:

Impressive to see how much you got coming and all the stuff you’re working on — but now the question is what is the usecase of your native token within your ecosystem and what do you think will drive it’s value? Why should people invest in it?

Kyle:

Yeah so token utility is one of highest priorities, that along with revenue generation from our flagship dApps. We launched $PHNX with an aim to maximise its utility and that strategy remains today. Over the last year we’ve been able to create utility in the following areas of the ecosystem;

- DAO participation — Participants are required to stake PHNX to vote and submit grant proposals all of which strengthen the ecosystem and drive token hodlers while also eliminating chances of spammers messing with the platform.

- PHNX staking — The foundation launched a custom built staking platform which offer 20% APR which is paid out instantly via www.staking.io

Noteworthy to add that work the Staking v2 is being finalised. This will enable another level of liquidity farming and ecosystem sustaining measures.

- Events marketplace — Our recently launched flagship product, the Event marketplace enables event organizers and participants to openly and freely create events, sell or giveaway tickets as NFT’s on the Polygon and Ethereum network. Also as just discussed we’re close to launching the brand new UX/UI version of the dApp which includes the initial phase of our Travala.com affiliate partnership closely followed by the implementation of a fiat on-ramp. All ticket purchases are made in the PHNX token and we have an aggressive roadmap to add further token utility and new revenue generating features within the dApp. Yahoo News https://news.yahoo.com/phoenixdao-changing-events-hosted-enter-130039279.html

Not only that but we’re constantly striving to bring new utility via partners and future developments, we’re currently looking at creating a new L2 protocol which require PHNX. Also a number of our announced and unannounced 👀 partners are also going to be offering token utility and use cases. We’re currently working on a world’s first to market technology solution with two partners which will be announced later this quarter or early in the next!

Old branding but still relevant from a token use case perspective.

Host:

We definitely have to get you back for an AMA specifically for the event marketplace. Really loving that product from what I’ve heard so far.

Monte:

Aha….. Let me pen it down.

It was a pleasure to talk to you and get some first hand information on what’s going on at PhoenixDAO. We’re going to open the chat for Community Questions now. You can answer a few and then please pick a winner.

Kyle:

Open source, free to use and unlike other free to use platforms tickets are NFT based. We have YouTube guides on our YouTube channel so worth taking a look https://www.youtube.com/channel/UCbHItp_NnMpSVhZQWdoCJfg

$PHNX can be traded at:

Bittrex

BTC → https://global.bittrex.com/Market/Index?MarketName=BTC-PHNX

USDT → https://global.bittrex.com/Market/Index?MarketName=USDT-PHNX

Kucoin 🔥🔥🔥

BTC → https://trade.kucoin.com/PHNX-BTC

USDT → https://trade.kucoin.com/PHNX-USDT

Uniswap 🔥🔥

ETH → https://app.uniswap.org/#/swap?inputCurrency=ETH&outputCurrency=0x38a2fdc11f526ddd5a607c1f251c065f40fbf2f7

PancakeSwap 🔥

BNB → https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x7e2c683eec39813c191f6a40d259984dd5880c0a

QuickSwap

MATIC → https://quickswap.exchange/#/swap?outputCurrency=0x92c59f1cc9a322670cca29594e4d994d48bdfd36

CoinEx

BTC → https://www.coinex.com/exchange?currency=btc&dest=phnx

USDT → https://www.coinex.com/exchange/phnx-usdt

Bilaxy

ETH → https://m.bilaxy.com/app/trade/567

For other DEXs & Aggregators, eg: 1inch, Matcha, Paraswap, etc., please copy & paste the Contract Address below:

For ETH:

0x38A2fDc11f526Ddd5a607C1F251C065f40fBF2f7

For BSC:

0x7e2c683eec39813c191f6a40d259984dd5880c0a

For Polygon:

0x92c59f1cc9a322670cca29594e4d994d48bdfd36

ETH(ERC20) <> BSC(BEP20) bridge:

https://bridge.phoenixdao.io/

ETH(ERC20) <> Polygon(ERC20) bridge:

https://wallet.matic.network/bridge

Community Q1:

What’s your Next Priorities on your roadmap. Do you have Enough Funds, community To achieve your business and goals?

Monte:

Here’s our roadmap

Community Q2:

Partnership is one of the important factor of the project’s growth, could you please tell us about PhoenixDao partnership(s)?

Monte:

Here are a few from the many. Please check our website (www.phoenixdao.io) to see more partners

TRAVALA

We are finding working with the Travala team fantastic so far, it was clear from the get go that both parties could see huge synergies for now and in the future. Initially we will be promoting Travala.com on the Event Marketplace but have also began talking with them in relation to deeper integrations so stay tuned.

https://phnxdao.medium.com/phoenixdao-working-with-industry-leaders-travala-com-b27b46de6e80

POLYGON

Whilst we are not official partners of Polygon (previously Matic) we do have a fantastic working relationship with them which is seeing us launch the Event Marketplace with their support, we also have conversations with their team on how both projects can mutually benefit working together moving forward. A recent piece of PR that went out here.

https://ambcrypto.com/phoenixdao-partners-with-polygon-to-launch-events-marketplace/

We have several other ongoing partnership conversations. Our aim is to onboard as many as possible. We just signed another promising team last week. For example, by the end of the year, we want the events dApp to be the go-to place for all crypto/blockchain conference organisers and attendees. We want to comfortably have over 1 million users, who we can effectively call our partners in the long run. Name it — Youtubers, Influencers, Event planners. It’s coming and it’s here.

Community Q3:

What’s your long term vision about the industry you are working on. Technology is advancing at a rapid rate and are you afraid a better technology will arise that will topple PhoenixDao (PhoenixDao ) ?

Monte:

Our vision began by believing that in this new emerging industry, we’re capable of creating a self-sustaining community governed ecosystem and we still believe that to be the case. Over the next 2–3 years we’re aiming to have handed full control over to the community. PhoenixDAO’s flagship products will have launched and will see user growth and revenue being generated for the project along with a raft of industry partners and products built on ecosystem which have been incubated by PHNX DAO grants.

It’s a mammoth task and we know that however, with products that users love, incentives that attract old and new users and an ever growing interest we’re seeing to be involved, we’re on track. Our short term plan which is highlighted in the roadmap sees us launching key pillar stones of the project, from each of these platforms, tools and products we aim to grow and grow big!

Community Q4:

Does your project support staking program?if yes. how is your stake system work, what is the requirement for user if they want to stake in your platform?

Monte:

We are nearing the release of our staking dApp V2. Meanwhile here are the details for the current version 1

Staking dApp:

https://staking.phoenixdao.io/

•Spot İnterest:

20% APR (365 days) — paid instantly

•Stake Limit:

No limit per address

Limited to 20,000 phnx per txn

•Stake Period:

1–365 days

Example of Interest Calculation:

i) If you stake 20,000 phnx for a FULL 365 days, your spot interest will be 4000.00.

ii) If you stake 10,000 phnx for 300 days, your spot interest will be 1643.84.

iii) If you stake 15,000 phnx for 200 days, your spot interest will be 1643.84.

Complete Guide for Spot Staking:

https://medium.com/phoenixdao/a-complete-guide-for-phnx-spot-staking-dapp-we-are-live-b3b9bb8d466c

What to expect in v2 includes:

Flexible staking/liquidity farming feature that allows users to earn juicy interest on the go. Users can stake a large amount of PHNX at once to maximize their reward/interest earnings. You have the luxury of using the spot staking feature in V1.0 or liquidity pool version in V2.0 based on preference.

Community Q5:

What plans do you have in place to help drive token demand and scarcity? and, Do you have any plans for a burn/buy back program on $PHNX? @Degreatone @KyleG_PHNX

Monte:

You need the $PHNX token to interact with the entire ecosystem, and let’s not forget that it continues to evolve and grow. Right now, it’s a requirement for the DAO, events dApp, spot staking dApp, eventually the dApp store, and everything else we’re building out. Our latest roadmap shows some of what we already have planned.

Something worth mentioning is the fact that we have a linked ecosystem. Our philosophy is that fragmentation is the enemy — taking this approach automatically puts the $PHNX token in a position to keep expanding.

Community Q6:

There are 3 core issues prevalent in crypto and blockchain such as Scalability, Interoperability and Security How does PhoenixDAO plan to overcome these issues?

Monte:

we work with multi-experienced auditing houses and dev shops to ensure security.

We can respond to more. Please join our channels then ask your questions

Website:

https://phoenixdao.io/

GitHub:

https://github.com/PhoenixDAO

Medium:

https://medium.com/phoenixdao

Discord:

https://discord.gg/nRexgmr

BitcoinTalk Forum: