KuCoin AMA With Port3 Network (PORT3) — A Platform That Create, Utilize and Evolve Your Web3 Identity

2024/01/17 10:01:00

Dear KuCoin Users,

Time: January 16, 2024, 12:00 PM- 12:48 PM (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with the BD Manager of Port3 Network, Jack, in the KuCoin Exchange Group.

Official Website: https://port3.io/

Whitepaper: https://port3.notion.site/What-is-Port3-Network-c24968b117c54dcebb246c7ef6d9dcb5

Follow Port3 Network on Twitter, Telegram and Discord

Q&A from KuCoin to Port3 Network

Q: Can you please introduce yourself and Port3 Network?

Jack: I'm Jack, the BD Manager at Port3 Network for almost a year. I specialized in forging strategic partnerships and driving our project's growth through innovative solutions in the blockchain and cryptocurrency space. Port3 is the bridge between Web2 and Web3. We are building a protocol to aggregate and standardize both off-chain and on-chain data to build a Social Data Layer that is universally accessible and powerful for Web3 use cases. This layer is intended for widespread application across various decentralized applications.

The Port3 Network project is a significant initiative in the Web3 space, focusing on creating a comprehensive data layer protocol. This project is designed to aggregate and standardize a wide range of data. At its core, Port3 Network serves as a protocol for data aggregation in the Web3 environment. This involves collecting and standardizing diverse data sets to create a unified and accessible layer of social data.

Q: Could you delve deeper into the process of how Port3 aggregates and standardized off-chain and on-chain data?

Jack: Port3 efficiently aggregates and standardizes public data from blockchain wallets and social media, all shared by users. Our advanced algorithms gather and refine this data, ensuring uniformity and accuracy. We integrate it to construct detailed Web3 identities, offering a comprehensive view of a user's digital presence in the blockchain and social spheres.

Q: Shifting focus to your tokenomics, Can you explain the structure of Port3's token and its utility?

Jack: PORT3 is the native governance token of Port3 Network. As a pivotal element within the Port3 ecosystem, the token empowers users to actively participate in the decision-making processes that shape the project’s trajectory and evolution.

Key aspects of $PORT3 token:

Token Ticker: $PORT3

Total supply: 1 Billion

Network: Ethereum

Contract Address: 0xb4357054c3dA8D46eD642383F03139aC7f090343

Utilities of $PORT3 token:

Proposing and voting on community decisions

Staking to receive platform dividend earnings

Staking token for Port3 Network L2 nodes

Gas token for Port3 Network L2

Payment token for the Social Data Layer

Payment token for BQL running credit

Payment token for SoQuest credit purchases

Ecosystem 36% — Used for future incentives for developers and the ecosystem, initially locked, and available for node plans of L2

Treasury 10% — Prepare for possible future expansion

Team 20% — Cliff for 1 year, linearly released every quarter over 3 years

Private Sale 21% — For early investors of Port3 Network. 2.5% unlocked at TGE, Cliff for 3 months, Linear vesting for 24 months.

Airdrop 7% — Airdropped in 3 seasons. 25% unlocked at TGE, the remaining will linearly release everyday over 10 months.

Marketing 5% — All operational related budgets

Public sale 1%

Q: Where do you see Port3 in the evolving landscape of Web3 in the next months or years?

Jack: In 2024, we will focus on enhancing profitability, infrastructure, and technological innovation to continue empowering PORT3 tokens.

2024 Q1

Releasing the SoQuest LaunchPad

Launching the second season of their airdrop campaign

2024 Q2

Releasing Bitcoin BQL and BQL Natural Language Processing capabilities

Launching the Port3 Network L2 Testnet

2024 Q3-Q4

Launching the third season of the airdrop campaign

Launching the Port3 Network L2 Mainnet

Launching the Web3 Data Layer

Q: You’ve Mentioned BQL, What's BQL?

Jack: BQL is a great tool absolutely loved by our CEO. BQL, one of the latest major products developed by Port3, introduces an innovative way to interact on the blockchain. It enables the potential for intent-centric protocols and open infrastructure.

BQL as an AI-powered zero-code executor for on-chain actions, provides an open way for intent layer possibilities. Users no longer need to search for complex interactive tutorials; they can execute intricate on-chain interactions with a single click. Even instructions written in natural language can be compiled into standard on-chain workflows and executed by EVM-compatible contracts.

Q: When Was Port3 Network Coin Launched?

Jack: We've been developing the Port3 Network for over two years. The Port3 Network (PORT3) was officially launched on January 8, 2024. This date marks the liquidity launch of the network, which followed a series of sold-out Initial DEX Offerings (IDOs) for its web3 identity protocol.

The launch was a significant milestone for the project. It had earlier raised funds to build its web3 social data portal, with a notable $3 million seed round backed by KuCoin Ventures and other prominent investors​. Port3 Network plans to develop and expand its offerings continuously. This includes supporting new blockchain chains, launching DeFi components, and developing various tools and platforms to enhance its data layer capabilities.

Q: You’ve mentioned SoQuest Launchpad, Can you tell us more about it?

Jack: Our SoQuest Launchpad would be called SoPad. It is a notable cryptocurrency launchpad and it will be distinguished by two key features:

Empowerment of PORT3 Token: SoPad enhances the rights and benefits of its coin holders, staking users, and verified users, ensuring a rewarding experience for its community.

Strong User Base: Backed by 4.5 million users, SoPad combines financial strength with significant social influence, offering a robust and credible platform in the crypto space.

The official launch of SoPad will be live by the end of the month. Follow our X announcements to know more.

Free-Ask from the KuCoin Community to Port3 Network

Q: Did you have Staking Options to earn more PORT3? What will be the benefits of HODLing PORT3?

Jack: I think this is an important question. We are building a Social data layer connecting Web2 and Web3. Attraction of non-crypto users goes through Socials like Twitter(X) and Discord. A lot of exposure in those social media channels can lead to a natural and steady growth.

Q: What are some of the latest news and updates about Port3 Network?

Jack: You can find us on major platforms such as Twitter (X), Website, Medium, Notion and others. All the links you can find provided in footer of our official website.

Q: What is the main drive of Port3 Network? Is it the Community or the Utility?

Jack: Since the beginning, our focus was on community. As we are growing before the launching the token. Right now, our main focus is still the community, but also the utility. Especially we are launching our Launchpad, SoPad.

Q: Can you provide information about your current primary objectives and target audiences? Are you planning to expand your project globally or are you initially focusing on specific regions?

Jack: Our Community goes beyond one market. It's a strong and global community from different parts of the world. Most of our users are from Southeast Asia, USA, and UK. Additionally, users from any parts of the world are welcome to join us!

Q: Who is your ideal consumer for your product? Did you take into account the feedback and requests of the users in the development process to generate new ideas?

Jack: The ideal consumer is a loyal user. We strongly listen to our community. Often, AMA on X and Discord where we interact with the community, gather questions, answer them and of course listen to their feedback.

KuCoin Post AMA Activity — Port3 Network

🎁 Participate in the Port3 Network AMA quiz now for a chance to win $10 in PORT3!

The form will remain open for five days from publishing this AMA recap.

Port3 Network AMA - PORT3 Giveaway Section

KuCoin and Port3 Network have prepared a total of $2,000 in PORT3 to give away to AMA participants.

1. Pre-AMA activity: $800 in PORT3

2. Free-ask section: $50 in PORT3

3. Flash mini-game: $400 in PORT3

4. Post-AMA quiz: $750 in PORT3

Sign up for a KuCoin account if you haven’t done so yet, and ensure you complete your KYC verification to be eligible for the rewards.

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