GODL ($GODL) AMA @CryptoStarship ๐Ÿš€ Recap

Token: $GODL (ETH Chain) ๐Ÿ’Ž

The premiere coin that lets you earn ETH passively.

Telegram AMA Conversation Recap: ๐Ÿ“

CRYPTO PILOT ๐Ÿ‘จ๐Ÿปโ€๐Ÿš€, [20.07.21 08:00]
Welcome aboard to the new guys from GODL ๐Ÿ˜‰

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:00]
Welcome @godlenwind , @godlman99 and GODL crew, nice to have you with us today aboard on the @cryptostarship.
Chat will be muted as we begin our AMA

Giorno (GODLen Wind), [20.07.21 08:00]
๐Ÿ‘‹

GodlMan โ€” Will never DM you first, [20.07.21 08:00]
[ GIF ]

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:01]
Chat is muted

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:01]
Please take a moment to introduce yourself and the core team members behind GODL and tell us about your background.

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:02]
by the way, everyone, join @GodlCoin tg community

Giorno (GODLen Wind), [20.07.21 08:02]
Greetings,
Iโ€™m Giorno, the developer of GODL. Iโ€™m pleased to be here in todayโ€™s AMA!

Iโ€™m a software engineer with 9 years of experience. I worked for both big tech and finance companies in the past. Currently, Iโ€™m employed at Goldmanโ€™s trading desk and got an offer from Facebook recently but decided to decline in order to do crypto full time.

GodlMan โ€” Will never DM you first, [20.07.21 08:03]
Hey CHADS of Crypto Starship! ๐Ÿ’ช I handle the administrative part of GODL. Professionally, I am a lawyer for celebrities, with heavy experience in organizing different projects spanning different fields and demographics. ๐Ÿ˜Š

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:03]
๐Ÿ‘€๐Ÿ‘€ thatโ€™s a heavy background over there!

CRYPTO PILOT ๐Ÿ‘จ๐Ÿปโ€๐Ÿš€, [20.07.21 08:04]
Interesting combination indeed ๐Ÿ˜Ž๐Ÿ‘Œ๐Ÿป

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:04]
Godl is definitely in great hands!

GodlMan โ€” Will never DM you first, [20.07.21 08:04]
[ GIF ]

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:04]
So you describe GODL as an innovative protocol which rewards holders with ETH (ERC-20) tokens automatically.

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:04]
Can you briefly explain in laymanโ€™s terms why you are bullish/optimistic in $GODL both as a meme token as well as from its utility standpoint?

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:06]
Meanwhile, I will provide GODL website and chart for people interested in taking a look.
https://godl.app/
https://www.dextools.io/app/uniswap/pair-explorer/0x4aedd28e59cdb3043e269f1d51cbdddf23be56bb

Giorno (GODLen Wind), [20.07.21 08:06]
We are bullish in GODL because we are bullish in ETH! We believe that DeFi will usher a new age of finance and that ETH will overtake Bitcoin as the most dominant cryptocurrency in the planet.

Giorno (GODLen Wind), [20.07.21 08:07]
We envision GODL to serve as an alternative to ETH mining. Whereas ETH mining involves expensive resources, owning GODL is just as simple as holding the coins in your wallet.

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:08]
[In reply to Giorno (GODLen Wind)]

very well said! ๐Ÿ’ช๐Ÿผ๐Ÿ’ช๐Ÿผ๐Ÿ’ช๐Ÿผ I completely agree. Plus with the upcoming London upgrade, ETH will become even scarcer. A true store of value and a gateway to DEFI

GodlMan โ€” Will never DM you first, [20.07.21 08:08]
Indeed! So if you believe in Ethereum and plan on holding it long term, why not multiply your yields and get passive income THAT IS AUTOMATICALLY DEPOSITED IN YOUR WALLET (uh-huh, no manual claim required, we got the gas covered for you, as compared to other ETH rewards coins that require manual claiming) ๐Ÿ˜‰

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:09]
[In reply to Giorno (GODLen Wind)]

I do like the approach! Mining ETH requires heavy investment in mining infrastructure, which always has the risk of hardware failure, or becoming outdated in the near future.

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:10]
with GODL you basically just have to hold GODL to โ€œmineโ€ ETH, in an automatic way, I donโ€™t see why anyone wouldnโ€™t be bullish.

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:10]
[In reply to GodlMan โ€” Will never DM you first]

very nice

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:11]
You state that โ€œUnlike other tokens, GODL automatically distributes ETH rewards to holders without them having to claim manually from the rewards pool.โ€ This is too good to be true, one just purchases and holds $GODL, earning ETH automatically as if they were mining ETH. Can you explain how the contract is built to accommodate this feature?

Giorno (GODLen Wind), [20.07.21 08:12]
The contract delivers rewards to eligible holders in a round-robin fashion. It works by charging an extra amount of gas for each transaction in order to distribute the rewards of those next in line in the round-robin. However, as you may have deduced, this distribution only works optimally if there are many transactions (i.e. high volume). If volume is low, then the contract can only deliver to fewer addresses. Do not fret because your rewards will keep on accumulating until it gets delivered so just be patient and HODL that GODL!

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:14]
[In reply to Giorno (GODLen Wind)]

completely understandable. In any case as you said, rewards are gradually accumulated and NEVER expire!
Many people may be wondering what is a โ€œround-robin queueโ€. Could you elaborate a bit?

Giorno (GODLen Wind), [20.07.21 08:17]
A good way to visualize a round-robin queue is a round table where each person is seated and the food is passed around clock-wise. The person holding the food is the current one being โ€œservedโ€ and after he/she is served, the food is passed on to the next one until it goes back to the beginning and the same cycle repeats.

GodlMan โ€” Will never DM you first, [20.07.21 08:18]
[In reply to Giorno (GODLen Wind)]

Based explanation! ๐Ÿ”ฅ๐Ÿ”ฅ๐Ÿ”ฅ

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:19]
[In reply to Giorno (GODLen Wind)]

nice! truly based, I can now visualize it and know that sooner or later everyone will get served those delicious ETH

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:20]
Would you mind breaking down $GODL tokenomics and the extent to which it is deflationary or not? What are the key token functions and how is it designed to increase or at least stabilize its price with an increasing amount of holders?

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:20]
by the way, @everyone we will open the chat for community questions after the interview with the admins! so prepare your questions

GodlMan โ€” Will never DM you first, [20.07.21 08:20]
[In reply to Satoshi Nakamoto |
@CryptoStarship]
Excited for this! Love the energy of this community! ๐Ÿ™Œ

Giorno (GODLen Wind), [20.07.21 08:23]
5% Rewards Tax โ€” The ETH rewards that are distributed to holders come from 5% of each GODL transaction.

3% Liquidity Tax โ€” Liquidity tax is applied in order to increase the value stored in GODLโ€™s liquidity pool in order to make the price more stable (i.e. less volatile).

Giorno (GODLen Wind), [20.07.21 08:24]
Regarding deflation, a common way to do this is through burning. Many cryptocurrencies do this but we decided to not put any burn mechanisms in the token for 2 reasons:

1. Burning makes whales larger. After burning, the amount of coins held by holders relative to the total supply becomes larger.
2. Burning is not needed to make a coin deflationary. A fixed token supply is inherently deflationary because of natural causes such as lost wallets, forgotten passwords, etc.

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:25]
[In reply to Giorno (GODLen Wind)]

makes sense! I support this statement too, by burning you give more power to the whales and can destroy price action if not handled properly

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:26]
[In reply to Giorno (GODLen Wind)]

total of 8% taxes, which is very appealing compared to similar taxes of other projects.

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:27]
you stated earlier that automatic ETH rewards are based on taxing transactions extra gas to pay for transfers. how much percent higher gas one has to pay as opposed to a regular transfer? Is it even noticeable?

Giorno (GODLen Wind), [20.07.21 08:29]
[In reply to Satoshi Nakamoto |
@CryptoStarship]
The additional default gas fee is 75,000 wei but this is configurable depending on public sentiment and Ethereum network upgrades. For comparison, an average Uniswap trade uses 150,000+ wei.

Giorno (GODLen Wind), [20.07.21 08:30]
75,000 wei allows the contract to process (approximately) the next 4 wallets in the round-robin queue.

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:30]
[In reply to Giorno (GODLen Wind)]

great! not much really, which should encourage people to trade, as opposed to increasing the actual total taxes!

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:30]
[In reply to Giorno (GODLen Wind)]

nice! one transaction serves 4

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:31]
So do you guys have GODL contract audited?

Giorno (GODLen Wind), [20.07.21 08:32]
As of this writing, Techrate has finished the quick check of our contract and found no issues.

https://www.dropbox.com/s/dqyqwyqd3lumdsh/godl-audit.pdf

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:33]
[In reply to Giorno (GODLen Wind)]

[ GIF ]

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:33]
[In reply to Giorno (GODLen Wind)]

bullish!!

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:34]
Last question from me, and will leave the floor open to the community for questions

From all the above, itโ€™s evident that the sustainability of GODL is tightly linked to the ability of sustaining trading volume. The community would like to know what is the projectโ€™s short- and long-term strategy including marketing to accomplish that

Giorno (GODLen Wind), [20.07.21 08:38]
We plan to increase volume by finding compelling use cases for GODL and doing buy-backs to sustain volume during market lulls. Not to mention that we also want to increase the number of holders of the token to increase overall trading activity. To do this we plan to conduct efficient marketing campaigns to reach a wide variety of audiences.

Giorno (GODLen Wind), [20.07.21 08:38]
@GodlMan99 can share more about the upcoming marketing initiatives that we have lined up!

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:38]
[In reply to Giorno (GODLen Wind)]
[ GIF ]

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:39]
[In reply to Giorno (GODLen Wind)]
definitely thatโ€™s the best way to go!

GodlMan โ€” Will never DM you first, [20.07.21 08:40]
For the short term strategy, we are tapping into the best crypto communities (thatโ€™s why we are here ๐Ÿ˜Š) to introduce GODL, as well as constantly using the readily available channels (reddit, twitter, and other social media platforms) to spread the word about the project. We have daily AMAs lined up as well as constant top posts in the different social media platforms through famous influencers!

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:41]
[In reply to GodlMan โ€” Will never DM you first]
I love seeing projects like yours with a lot of momentum!

CRYPTO PILOT ๐Ÿ‘จ๐Ÿปโ€๐Ÿš€, [20.07.21 08:41]
[In reply to GodlMan โ€” Will never DM you first]
[ ๐Ÿ‘Œ Sticker ]

CRYPTO PILOT ๐Ÿ‘จ๐Ÿปโ€๐Ÿš€, [20.07.21 08:41]
[ ๐Ÿš€ Sticker ]

GodlMan โ€” Will never DM you first, [20.07.21 08:43]
As for the long term strategy, we will be partnering with top crypto marketing agencies to expand our reach into the international crypto community! We also plan to engage novel celebrities to open up the concept of GODL even to those who are not deeply involved in crypto (since we really believe in the potential of the project)!

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:44]
[In reply to GodlMan โ€” Will never DM you first]
[ GIF ]

GodlMan โ€” Will never DM you first, [20.07.21 08:44]
Basically, you just HODL the GODL. ๐Ÿ’Ž Investors are early now since weโ€™re only starting to roll out our marketing! Now is the best time to buy. ๐Ÿ‘Œ

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:45]
well thought-out planning. And NFA, but personally itโ€™s a steal to get some GODL below 1 m market cap at these prices before the aforementioned plans are deployed

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:45]
Completely in the same frequency! HODL that GODL. ๐Ÿ’Ž

Satoshi Nakamoto | @CryptoStarship, [20.07.21 08:45]
Thatโ€™s all from us. I wish you all success, well deserved. Thanks for your time and for being with us in this AMA, both Giorno and GodlMan!

END

Thanks for joining us, and welcome aboard the Crypto Starship Group!

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