August 4-th held an Ask Me Anything session at ICO Speaks telegram chat. From the Exip side there was: Aswin | Operations Manager | @aswin_EXIP Hi everyone I’m Aswin, the operations manager from EXIP. A crypto enthusiast who has been in this for quite a few years now
Let’s get started! Q: What is EXIP and its vision?
A: EXIP started as a thought between our core group 3 years ago, intending to decentralize the internet, as the internet we all know and love has been heavily controlled and manipulated from when it started by two entities, namely ICANN and IANA. They take down and control domains at their own will, while calling themselves nonprofit organisations. EXIP aims to overcome this by allowing the community to truly have control over the internet. Q: What are the core features of EXIP
A: EXIP is a fully fledged blockchain based DNS solution, where users will be able to buy, sell and auction domains and TLD’s where an NFT would prove ownership. All domains and TLD’s would be a one time purchase, and the owner will have complete control of what they own. All DNS servers would be run by the community users, as this is what would make our ecosystem fully decentralised. We also have an agnostic model, which means that users could choose what network they would want to own their tokens in, a holder with 10 BEP20 EXIP tokens would be able to send it to us and receive the same amount of tokens in the Stellar or Ethereum network. All this is done while ensuring only a total of 2,100,000 tokens are in circulation at any given time, while all other tokens would be locked. Q: What are the tokenomics of EXIP
A: EXIP has a fixed total supply of 2,100,000 tokens.
We have allocated 75,000 tokens to the team, which have been locked, 50% for one year and 50% for two years. All 25,000 Pre Sale tokens have also been locked until the end of 2021. EXIP does not charge transaction fees when trading EXIP tokens. All EXIP holders would be staked 21% of each sale or auction of domains. All Node runners would receive 19% of each domain sale or auction.
You can find out our full tokenomics on our whitepaper
Q: What benefits would holders of EXIP token have and would they they play a part in the future decisions of the ecosystem ? A: The EXIP ecosystem would be fully decentralized, which means that even us as the developers would not have any control over it. All EXIP token holders will have the power to govern and take critical decisions in the ecosystem, this would be achieved by giving all EXIP token holders the power to vote for or against any decision that is to be taken in the EXIP ecosystem, be it taking down an unwanted website or minting EXIP tokens on a new blockchain. Q: Explain more about the Domain & TLD Reservation System and how it’s intended to be used
A: Any user would be able to purchase any domains or Top Level Domains to their liking. They will also be allowed to select in which blockchain they want their NFT minted on, Currently only BEP20, Stellar & ETH are available. Once confirmed and completion of payment, an NFT would be minted and sent to the respective owners wallet. The user will now have complete ownership of the domain or TLD and can use it to their liking. Q: Let’s now talk about the milestones you have achieved so far and about your upcoming plans?
A: We have successfully implemented our MVP product, the Domain Reservation System, which can be accessed via domains.exip.live .
Our Web browser extension is also currently live on the chrome store.
Static website hosting is to be implemented on completion of our IEO at the end of August and our Community run DNS servers will follow.
You can take a look at our full roadmap on our website exip.live
Q: What competitive advantages does EXIP have compared to similar projects ?
A: There are multiple project who are offering blockchain based domain names, but you are only allowed to choose from a very specific set of TLD’s. With EXIP you are able to purchase any domains or TLD to your liking whether it be your name or your companies name, all at a highly competitive price.
EXIP is also the first to allow the community to run all the DNS servers which makes EXIP the only project to be truly decentralised
Q: What would be the starting price of domains, and would any renewals be required ?
A The starting price of all domains and TLD’s would be as low as $1, this price would increase by $1 after every 2500 domains or TLD’s are issued.
After 25,000 domains & 25,000 TLD’s are issued they would be fixed at a price of $10 per domain and $100 per TLD.
All domains & TLD’s would be a 1 time purchase only.
Q: What exchanges would EXIP be listed on after completion of the IEO ? A: We are currently conducting our IEO on Latoken which will run until the 20th of August. Following that we have been approved by many top tiered exchanges, the names and listing announcements would come through before the end of our IEO. This funding round would really help us in covering the listing fees for the exchanges.
Q: A strong community not only brings interesting ideas for the project but also attracts big partners. So how does your project hire people with blockchain experience? And do you plan to hire people with blockchain experience?
A: Yes, our team already consists of multiple blockchain experts. They have won the SAARC awards for being the most innovative blockchain startup.
We are still also on the lookout for more blockhain developers, if there are any eligible people here please email us your CV.
Q: Also, as for the international adoption, what kind of a strategy do you have to grow the communities besides the plain English one? A: We already have many communities such as Indonesia, Africa, srilanka, etc
You can find the full list on our main telegram
Q: Where can I buy your tokens right now? what is the procedure for that? A: You can participate in our IEO on Latoken : https://latoken.com/ieo/EXIP
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? A: Our smart contract audit is in process, you can expect the result to be announced by the end of next week
Q: For project development, the top priority is to have sufficient funds. Is your team financially strong to able to carry out this project? Do you have sufficient funds for its development? Can you tell us how your project is turning a profit? A: We had a round of presale and ITO for our tokens which was completely used to fund the development and marketing of the project. We also have a few institutional investors who have invested in EXIP, so rest assured the development of our project will not be halted at any cost.
Q: In what ways can I contribute to the development ? Do you have Ambassador programs and what are its benefits? A: We do have an ongoing ambassador program, please check our medium channel for more information on how to apply for it
Q: How does the governance system work on the ecosystem? Who is responsible for managing the system, what is needed to qualify for authorization? People have the right to ask questions about the project? A: On completion of the ecosystem, there will be a voting portal for all EXIP token holders, where everyone would be able to vote for all requirements of the community. This would be the only source of governance in the EXIP ecosystem.
ICOSpeaks hosted an AMA Session with the Exip Team. That’s all for today.