Ask Me Anything with GOGOcoin at ICO Speaks: Summary
December 6-th held an Ask Me Anything session at ICO Speaks telegram chat. From the GoGoCoin side there was:
Garry Krugljakow | Founder of GoGoCoin | @t23851
Before we go to the first set of questions, could you please do a short self-intro?
Sure. My name is Garry, I am a serial Fintech entrepreneur, former trader/banker in a bigger asset management company.
I helped build N26 (https://www.cnbc.com/2021/10/18/n26-triples-valuation-to-9-billion-now-worth-more-than-commerzbank.html), one of the largest mobile banks in the world, after which I co-founded Cookies App (the Venmo of Europe which has been sold to Swedish Fintech Klarna. I also founded VAI Trade which was an AI driven online lender for Shopify stores that has been sold to the German bank Volksbank just before Covid hit.
I got involved in DeFi during DeFi summer in 2020 and saw clearly that this was the futur of france (finance) . I am also passionate about art and music and got very excited about NFTs earlier this year.
Due to that we have created in spring of 2021 an NFT collection (that became a top15 trending collection on Opensea) known as Cryptogogo’s. We evolved this project and created GOGOcoin, that’s where name comes from 🙂
Let’s get started!
Q: I heard, GOGOCoin brings a novel approach to DeFi with its hybrid innovations. Can you please tell us more about the project?
A: We are constructing the most user-friendly open source DeFi protocol for asset management and savings. We will be one of the first DeFi protocols to offer segregated funds on-chain in a secure and smart-contract and peg-insured way.
GOGOcoin combines interfaces with a user-centric approach while building on the strengths of decentralized infrastructure.
We genuinely believe that “Decentralized Finance” will eventually just be called “Finance” and replace TradFi the way we know and use it today. We aim to pave the way for that on bringing and onboarding those masses with web2 easy-of-use on a decentralized, web3 platform. Our experience in building web2 FinTech certainly comes in handy for that.
Q: What problems does GOGOCoin solve, and how are you delivering those solutions?
A: If you look at DeFi protocols and the DeFi ecosystem, currently we feel it’s too complex for most people/normies to interact with and navigate.
We believe DeFi should be accessible for everyone, regardless of their personal background or technological abilities.
That’s the point of crypto since its conception. It should be for everyone to break free from the restraints of centralized finance/TradFi.
That’s why we want to be the doorway to DeFi for new users. It’s not about another protocol just for degens (which we will cater to initially before launching our v2.0 and v3.0 in the next months), it’s about onboarding the masses to DeFi.
Our solution is a DeFi protocol that is so easy your grandparents could use it. We’re offering a frictionless user experience powered by awesome invisible tech that includes on-chain automation, simple one-click interactions for DeFi, and advanced security via NFT Smart Vaults.
Q: Can you please shed more light on the $GOGO token and what role does it play for the protocol and its users?
A: $GOGO will be a true utility token at launch. One of the utilities is our performance fees from routing to different DeFi protocols, as well as governance functions, that will be announced shortly after the launch.
The $GOGO fair launch happens on December 7th, 2021, at 6 PM GMT on Copperlaunch (Polygon). This step ensures that all participants of the fair launch have a chance to acquire the tokens at a similar price. It utilizes Balancer’s Liquidity Bootstrapping Pool (LBP) to achieve optimal price discovery
More details about the LBP can be found on our medium blog, here👇 https://gogocoin.medium.com/a700aead10b2
Q: Congratulations on your Fair launch! The NFT Smart Vaults you mentioned before caught my attention, can you tell us why they’re one of the key features of the protocol?
A: NFTs add another layer of security and decentralization to our protocol. You will be able to connect your user profile, say your e-mail address, to the vault by something known as passwordless sign-on aka magic-links. If you need to reset your access you will be able to use “social recovery” where you name 3 trusted people, such as family members or close friends, and they will be able to reset your access to the vaults (that will be storing your private keys) similar to a Gnosis multi-sig. That is one of the safest options in DeFi right now for self-custody of keys without the need to have them write on a piece of paper etc. and potentially lose them.
Q: After launch, what is your next major milestone?
A: The $GOGO token Fair launch on December 7th, will also initiate the V 1.0 of the GOGO protocol with staking and yield farming on Polygon.
NFT staking will be one of the more interesting features present on the platform right from launch. So that’s something the community can look forward to.
By the beginning of 2022, we will begin deploying the protocol on more chains to achieve maximum interoperability. We also aim to initiate the first phase of GOGOcoin gov.
Also, in Q1 2022, we will deploy a native Mobile App development.
By April next year, we aim to have our Swiss investment management license to market the DeFi protocol to bigger funds and look into CEX listings.
In July 2022 we will be launching our advanced vault strategies.
Q: What would be these security smart vaults powered by NFTs? How does it work?
A: NFTs add another layer of security and decentralization to our protocol. You will be able to connect your user profile, say your e-mail address, to the vault by something known as passwordless sign-on aka magic-links. If you need to reset your access you will be able to use “social recovery” where you name 3 trusted people, such as family members or close friends, and they will be able to reset your access to the vaults (that will be storing your private keys) similar to a Gnosis multi-sig. That is one of the safest options in DeFi right now for self-custody of keys without the need to have them write on a piece of paper etc. and potentially lose them.
Q: I actually have one myself to kick it off, will you have a multi-chain token, or will $GOGO be issued on just one chain?
A: For now, $GOGO will be issued only on Polygon, but once we are cross-chain, you will be able to bridge back and forth between chains. We cannot wait for this to happen!
Q: Will you be building a mobile app for GoGocoin? If yes, what platforms will it be available for? Do you think you will compete with the likes of Crypto.com?
A: Yes, we will build a native app, initially on Polygon and then cross-chain. No, it won’t be exactly like crypto .com as we are decentralized and they are not 🙂
Q: 1) Telegram Group
2) YouTube channel
3) Tiktok Channel
4.) Website
5) twitter
Q: I think a lot of people here are quite interested in the $GOGO token, both utility and structure… how does $GOGO work as a utility token for the network and how does it benefit the network and its owners?
A: $GOGO will be a true utility token at launch, the utility is for performance fees with governance functions to come shortly after the launch of the GOGOcoin protocol version one. You can find out more here:
Q: Is your platform suitable for crypto beginners? Or does it only limited for professional users ?
A: Version 3 of our protocol is designed for people who are crypto-newbies. Our slogan is DeFi Made Easy!
Q: Do you have a Token Burning plan to increase Token value and attract Investors to invest?
A: yes there will be a buyback and burn mechanism, seen in the token ecosystem graphic here
Q: Where to buy your token? Have you started listing your token on exchanges? Which exchanges will you be listed on?
A: We will be on Quickswap to begin with. Our GOGO Token Fair launch is tomorrow. Find out how to participate here:
ICOSpeaks hosted an AMA Session with the GoGoCoin Team. That’s all for today.
Thanks to all users who participated.
Thanks, GoGoCoin for being with us
Thanks, all and see you soon😉
Cheers 🥂
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