KuCoin AMA With PhoenixDAO — Making Blockchain Solutions Available to Everyone

2021/05/10 11:53:24

Dear KuCoin Users,

Time: May 7, 2021, 10:00-11:40 (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with PhoenixDAO in the KuCoin Exchange Group.

Project Introduction

PhoenixDAO is a community led project that’s found at the juncture of decentralized governance (DAO), decentralized finance (DeFi), and the new digital economy where NFTs and content ownership are becoming the norm. PhoenixDAO’s ecosystem is built around some in-house protocols which includes - Identity management, authentication, payment, and tokenization protocols. One platform, endless possibilities is their mantra looking to remove restrictions when it comes to enabling growth and biased participation.

The PhoenixDAO offering is also set to include different flagship products of their own to fuel self-sustainability and have already launched PHNX Spot staking dApp, Events marketplace with NFT ticketing technology and a plan to launch an NFT marketplace in 2021. The $PHNX token fuels the ecosystem with an ever evolving number of use cases and utilities.

Official Website: https://phoenixdao.io

White Paper: https://github.com/PhoenixDAO/PhoenixDAO-docs/find/master?q=

Follow PhoenixDAO on Twitter and Telegram.


Monte Thomas — Partnership Director at PhoenixDAO

Monte is responsible for all legal matters and growth of the project.

Kyle Gibson — Communications Director at PhoenixDAO

Kyle provides the DAO with community support and management.

Q&A from KuCoin

Kyle: Hi everyone, great to be here! Thank you for hosting us today.

Monte: Thanks for the warm welcome. Excited to be talking with the People's Exchange community.

Q: Kindly introduce yourselves to the KuCoin Community.

Kyle: Just to give your community a little more detail on my involvement.

My primary focus is ensuring that all outward messaging is on brand and we’re representing ourselves well! Being part of the core team in a fast-emerging project of course means my involvement more often than not includes looking for new and innovative ways to expand the project from a marketing, tech and strategic perspective.

I bring a breadth of business experience and knowledge, having run several successful businesses over the last 14 years from e-commerce businesses through to creative software agencies in the past. Innovation and business have been passions from a young age and so I very quickly fell down the rabbit whole which is blockchain and cryptocurrencies…there are just so many amazing opportunities out there and never has it been easier to get involved!

Monte: While still on the intro. I’m Monte Thomas. A Chemical Engineer by training. Got into tech - Data Analysis and Machine Learning by passion. My journey into blockchain and crypto started purely out of curiosity when I was still working as a freelance tech writer along with my tertiary institution day lecturing job back in 2014/15.

After taking a deep dive to learn about blockchain/crypto which saw me undergo an MSc. Digital Currency course, I got a role with a crypto project to cover articles, from where I moved on to work as a sales and marketing person (It’s worth mentioning that I now have a Diploma in Online Marketing/Sales).

I’m currently working with PhoenixDAO as the partnership director of the project. In this current role, I bring to bear a combination of my marketing, sales, and business development skills — while covering the legal responsibilities/arm of the project.

Q: What is PhoenixDAO?

Kyle: As much as we would like to think everyone knows about PhoenixDAO, it's a big world and we still have lots of work to do.

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: NFT and content ownership. PhoenixDAO’s ecosystem is built around our open-source protocols.

One platform, endless possibilities really is our mantra, looking to remove restrictions when it comes to adopting blockchain solutions, enabling growth, and allowing unbiased participation from anywhere (definitely sounds like what decentralization should look like) equally as important is our native token $PHNX which fuels the ecosystem with an ever evolving number of use cases and utilities.

Key to PhoenixDAO's growth will be the product offering which is set to include different flagship dApps to fuel self-sustainability. We have already launched PHNX Spot staking dApp (giving as much as 20% APR), Events marketplace with NFT ticketing technology, and a plan to launch an NFT marketplace in 2021. The core team believes in not building tech for tech sake and every flagship product will be carefully considered carefully.

Website: www.phoenixdao.io

Staking: staking.phoenixdao.io

Event Marketplace: events.phoenixdao.io

White Paper: https://github.com/PhoenixDAO/PhoenixDAO-docs/find/master?q=

Q: Tell us about how your DAO is structured and what impact it has on the ecosystem?

Monte: I personally like to educate communities about the DAO and how it's designed to work.

Full details on the DAO structure can be found in the link below. https://medium.com/phoenixdao/phoenix-dao-v1-functional-overview-update-ae77ed21f51

However, for those of you who might not be looking to deep dive into the project, what we’re building and aiming to bring is a completely decentralized, community driven project. The key incentive is our approach to be an enabler platform.

What I mean by this is that the DAO is going to primarily be to govern the products incubated/born and also enable individuals/organizations to capitalize on the available funding/grant model whilst contributing to the ecosystem in a number of ways.

We’re already working with a number of partners who are either actively building or close to launching fantastic products. Endless opportunities abound with our type of model, as it’s open to all.

Still a tip of the iceberg kind of explanation, but effectively summaries the structure.

Q: Can token holders participate in DAO voting? What do you offer to investors?

Kyle: Our DAO is built in such a way that it is in fact only the $PHNX token holders who can participate in voting. Our DAO is currently being audited and hopefully is set to launch in the not too distant future, mid-Q2 is the aim. Once launched, as we see more and more proposals submitted through the DAO, it’s going to be holders who actively decide where grants should be awarded.

By way of an example there could be 3 proposals submitted by third parties or individuals through the DAO:

1. Build a decentralised Amazon marketplace,

2. Create a new PHNX protocol, and

3. Build a DeFi lending application.

The DAO will also be used to govern existing products within the ecosystem for instance creating a new feature for the Event Marketplace. It will be the community who decides which of these proposals if any win and then move to receive grants to build in the ecosystem.

We will be leveraging our amazing community and network as additional incentives to build in the ecosystem, that alone is powerful!

The sky's the limit but hopefully this captures the basics.

Q: What incentives are there to hold $PHNX and participate in the DAO governance?

Monte: You need the $PHNX token to interact with the DAO, the events dApp, the staking dApp, the dApp store (decentralized version of Google Play Store), and many more dApps to come as we continue to build. Something worth mentioning is the fact that we have a linked ecosystem (not fragmented), which automatically puts the PHNX token in a position to keep expanding in use cases as the community grows.

Holding $PHNX comes with a number of benefits. DAO participation; you’ll have a say in key decisions on accepting new innovation into the ecosystem and improving existing products.

Right now, you can use the staking platform to earn an immediate interest payout of up to 20%. To give flexibility, users can select 1-365 days staking period and up to 20,000 PHNX in a single contract, users are able to create multi contracts if they wish. https://staking.phoenixdao.io (NB: We’re close to launching v2 of the staking dApp with improved features and perks)

We recently started a very promising relationship with Travala.com. The option of being able to use your PHNX to book for flight or hotel accommodation could be closer than you think. In summary, the use case of PHNX is tightly nested into the evolving PhoenixDAO ecosystem.

What’s important is to know that our goal is to see PHNX flowing through each and every part of the ecosystem and as the ecosystem evolves so will use cases and token utility.

Q: If PhoenixDAO is to be a truly self-sustaining ecosystem, how will that be accomplished? Are there plans for the products to generate revenue?

Monte: Being self-sustaining is something we've tried carefully to always assess as we've seen many projects die off because there weren't any strong plans in place to keep them going.

Right now, PhoenixDAO is crypto and blockchain centric. However, our aim is to quickly bridge to traditional industries disrupting them by leveraging events, DeFi, NFT and a raft of other products we’re looking to roll out over the coming years.

Take for example the Event Marketplace we recently launched and are about to integrate with Polygon (previously Matic) PoS network. This opens up huge opportunities to disrupt the events industry which on its current trajectory is expected to reach $2,330 billion by 2026. Removing barriers to entry are also a high priority for us, being able to have non-blockchain users will be key, it won’t happen overnight but take for instance we have just kicked off this week with a trusted team serving other big players in the space the development to enable a fiat on-ramp which enables users to purchase PHNX using a debit/credit card for different types of paid events on the Event Marketplace.

PhoenixDAO revenue generation remains a key KPI for 2021 and so we will be looking at marketing opportunities and incorporating competitive fees for using our tech and products over the coming months. The beauty of blockchain, crypto and decentralization is that we’re confident that our solutions will be a fraction of what existing companies charge.

Q: Looks like you’re working to disrupt the Events ticketing industry. Tell us about your Events dApp, its current state, and plans for the near and far future?

Kyle: Never a short answer but we love it!

The Events dApp is already live on Ethereum network, but due to the high gas fees and other blockers, we decided to integrate Matic PoS solution to make it a truly decentralized events/NFT ticketing marketplace accessible by anyone from anywhere. The Polygon (previously $Matic) launch is going to happen after we’ve completed our short beta testing, which is already underway, our full public launch is looking good to happen in weeks opposed to months which we're all extremely excited about. As part of plans to make it as resounding as possible, we’re already in talks with some big industry players who’ll be using our solution. The finer details of these are still being ironed out.

As a form of educating your community about the events dApp. If you aren’t familiar then think about platforms such as EventBrite.co.uk or TicketMaster.com, we’re disrupting this vertical by bringing Event creation, management and sales on-chain. We see this as a global product which can actually reach populations that centralized applications cannot. DeFi/crypto opens up doors to the unbanked and that is most certainly a demographic we will be looking to support.

Here are some key points:

- The PhoenixDAO Events Marketplace uses $PHNX tokens to buy and sell event tickets.

- Events can be virtual or on-location.

- Events can be assigned categories we are all familiar with.

- Event tickets are ERC-721 NFTs, allowing users to transfer, send to others, buy for a family member or friend.

- Event creators have a dashboard for metrics and their sales data.

- The Marketplace is decentralized using powerful and familiar blockchain integrations.

And here's a great article outlining what we’re doing with the event marketplace - (https://cryptodaily.co.uk/2021/03/PhoenixDA-events-dApp-launch) but it’s also worth knowing that we see this as an evolving product, we have an aggressive update plan to build out new features and partnerships.

This will start heating up once our integration with Polygon (previously Matic) is complete.

We now have a soft go-live date and it really isn’t too far away so watch this space. A May 2021 launch date is very possible for us.

Q: Staking has become common with almost all projects since the rise of the DeFi niche. Since you have a staking option, can you tell us about PhoenixDAO staking?

Monte: Great. As we may all know DeFi and Staking are now like 5&6.

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

Staking dApp:


•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 4,000.00.

ii) If you stake 10,000 PHNX for 300 days, your spot interest will be 1,643.84.

iii) If you stake 15,000 PHNX for 200 days, your spot interest will be 1,643.84.

Complete Guide for Spot Staking:


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.


Just to add, for those of you who might be wondering why we have a new logo we have recently undergone a full rebrand, details can be found here: https://medium.com/phoenixdao/phoenixdao-is-having-a-monumental-rebrand-2414c383b34e

Q: What’s the connection of PHNX with the PhoenixDAO ecosystem in terms of usage/use cases?

Kyle: Some of this has already been touched on with previous questions but token utility is of course one of the most important factors.

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.

Q: Can you tell us about some of your partnerships? Also, how does your partnership with Numio impact what you intend to achieve?

Monte: On the partnership front, we have a lot of moving pieces at the moment. I'll try not to make it too long. At the end we'll drop links to our social channels where you can find all the details you need.


Numio (www.numio.one) has unlocked a lot of potential with what they are building for our ecosystem. Their connections with Matter Labs has enabled for $PHNX to be added into zkSync, which allows for the asset to be used on their L2 zkRollup. As a part of that, their team will be doing $PHNX Cashback rewards and enabling discounts at PoS for $PHNX. With Numio being one of the leaders for L2 tech & adoption, it puts PhoenixDAO in a great position to excel with what our team is building.

Users of Numio Pay have an asset option to store and send Peer to Peer (P2P) transactions in PHNX.

Users that make Peer to Peer (P2P) payments or in-store Point Of Sale (PoS) transactions using PHNX will pay reduced fees.


Users can store their PHNX in Vault.

Users making trades on Vault will pay reduced fees when using PHNX.

Users will get VaultPRO subscription discounts for paying in PHNX.

PHNX staking will be available.


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 begun talking with them in relation to deeper integrations so stay tuned.


Polygon (Matic)

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:


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 organizers 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.

Kyle: We have a number of fantastic partners, not only have we just signed a new partner which we will be announcing soon. A list of partners can be found on our website.

Q: Where do you see PhoenixDAO in the next 2-3 years?

Kyle: Our vision began by believing that in this new emerging industry we would be 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 ecosystems which have been incubated by PHNX DAO grants. Not only that will we have hopefully successfully tackled many of the challenges around barriers to entry which this space is faced with.

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!

Free-Ask from KuCoin Community

Q: What is your most ambitious short-term goal for PhoenixDAO?

Monte: To get all crypto conference organizers to use PhoenixDAO Events dApp. Also to onboard a few big sports clubs (e.g Chelsea, ManUtd, some in our local communities, etc) to use our events dApp.

Q: What do you think will increase the PHNX token price? Did you implement a burning mechanism for tokens or do you plan to increase the use case of PHNX tokens? Please describe your plan and opinion.

Kyle: Token value is derived from a number of factors and these are outside of the project control however, demand is one we focus on. We're looking to create user-friendly, useful products that disrupt existing products as you have already read in the AMA. We believe by doing so adoption will be like a snowball effect and with adoption come increased demand and usage for $PHNX.

Q: Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?

Kyle: We work with a number of industry leaders when it comes to contract audits. Hacken.io recently audited our BSC bridge and are also working on future audits.

The BSC bridge was initially audited by our strategic partners xord.one and then by hacken.io and was successfully launched several weeks ago.

bridge.phoenixdao.io we built this to enable our users to trade on PancakeSwap.

Q: How can we generate more profit with your project?

Monte: Increasing usage of our products. There were over 15K people online at a point during this AMA. We want to bring the era of monetizing everything including AMAs. If the organizers asked you to get NFT tickets using PhoenixDAO events dApp to attend, that's directly/indirectly going to impact on the price of PHNX and thereby increasing our revenue chances. We're pioneering a new era where even YouTube videos will be paid for in a way using some kind of paid tickets.

Q: What are the marketing strategies of your project? What will you do so that your project will be visible in the crypto field and people come to explore your project?

Kyle: Marketing is of course a huge factor in the success of a project, this is why earlier this year we partnered with LunaPR, a leading marketing agency based out of Dubai:


As our products roll out further we will begin to do more targeted marketing, for instance we have just recently begun talks with Event PR outlets.

Q: What do you think of coin burning? Are there any burning plans in the PHNX roadmap?

Monte: There is coin burn when you unstake your staked PHNX before maturation.

Q: Which one of these aspects is important for you?

1. Increasing Token Price and Value

2. Empowering Platform Development

3. Building Community Trust

4. Expanding Partnership Globally

In what order?

Monte: 2,3,4,1

Q: Which area are you currently focusing on (DeFi, Stake,Dapps..) and what are your goals for this year?

Kyle: You can see from our roadmap that currently our main focus is to build out the key infrastructure, once the DAO is launched things will start to grow from there at a much quicker rate.

Q: The Phoenix project includes “DAO”, is this related to the DAO maker system? If so, how and what are the benefits of PHNX DAO over other projects?

Monte: Our system is built to eliminate manipulation. One man one vote. It doesn't matter how many tokens you hold. So no whale factor with PhoenixDAO.

Q: How can users stay updated with the PHNX project? Are there channels, including local communities, where users can get the latest updates?


Website: https://phoenixdao.io

GitHub: https://github.com/PhoenixDAO

Medium: https://medium.com/phoenixdao

Discord: https://discord.gg/nRexgmr

BitcoinTalk Forum: https://bitcointalk.org/index.php?topic=5252264

Twitter: https://twitter.com/phnxdao

Telegram Official Chat: https://t.me/PHNXDAO

Telegram News/Announcement: https://t.me/PhnxDAONews

Telegram $PHNX Supporters: https://t.me/phoenixsupportergroup

Reddit: https://www.reddit.com/r/PhoenixDAO

Facebook: https://www.facebook.com/PhnxDAO

Linkedin: https://www.linkedin.com/company/phoenixdao-phnx

Instagram: https://www.instagram.com/phoenixdao_

Uptrennd: https://www.uptrennd.com/user/MTEwNzI1

Publish0x: https://www.publish0x.com/@PhoenixDAO_PHNX

YouTube: https://www.youtube.com/channel/UCbHItp_NnMpSVhZQWdoCJfg

Q: What is the form of collaboration between PhoenixDAO and KuCoin?

Monte: Currently a listing partner relationship, but open to metamorphosize into other forms as we grow.

Q: How much $PHNX holding to participate in staking? And how much is the reward for participating in Staking? Any minimum amount to stake $PHNX for reward?

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

Q: Is there anything else you would like to share or you want us to know?

Monte: We have a little something to appreciate the very active community here. We'll be starting another campaign on KuCoin from next Monday, May 10. Some big big rewards to be won. Please get ready to take your share. Details will be announced by the KuCoin team.

Kyle: Also worth mentioning a well-known influencer will soon be announcing a TikTok competition so please follow: https://vm.tiktok.com/ZMeVgEamp/

Monte: Really enjoyed my time here. You have a very active community. Please tell them to join our community for more question/answer sessions.

Kyle: Thank you for having us and we really hope to see some of your community join PhoenixDAO to get involved, we have some great ways our community can receive rewards just for supporting: https://t.me/PHNXDAO

Giveaway Section

KuCoin and PhoenixDAO have prepared a total of 11,500 PHNX to give away to AMA participants.

1. Red envelope giveaways: 3,700 PHNX

2. Free-ask section: 300 PHNX

3. Post-AMA activity: 7,500 PHNX

Activity 1 — Quiz: 5,000 PHNX

Activity 2 — Price Guess: 2,500 PHNX

. . .

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