Virgo X BSC Army AMA resume!
Welcome to our guest: Hugo Lalin – CEO and Founder of Virgo. How do you feel today?
Hello Reginald and everyone! I’m very excited to be here today!
So, we are ready on the move.
Segment 1: Introduction (5 questions)
1. Could you please introduce a little bit about yourself and your project?
I’m Hugo Lalin, founder, and CEO of Virgo! I’m into cryptocurrencies since 2016 founded Virgo to tackle issues I discovered during my journey in this industry!
Virgo’s primary goal is to accelerate web3 adoption by making it safer and user-friendly. Our primary concern is that currently, decentralized applications are distributed using centralized means, most of the time a simple website. It creates a significant point of failure:
For most apps, an attacker would have to deface the app’s main website for a few minutes and make users interact with the wrong contract, stealing them without means to notice beforehand.
Imagine PancakeSwap being hacked for just 10 minutes; They would steal over 20 million from users!
We also think that most dApps suffer from bad UX and, more importantly, from reduced visibility due to the wide variety of technologies and projects; The crypto space needs a place where users can easily find and download dApps without browsing for hours.
We want to solve all these issues by creating the first decentralized AppStore!
Wow, I have to admit that is such an impressive introduction 😁
2. Could you tell me about your team members and what are their roles in your team?
We are currently six in the team, expecting to grow this number as much as possible! It comprises three developers including me, one marketing officer, one business relationships manager, and one advisor!
For the most part, we have been in crypto for a long time and met thanks to it, executing mining operations and exchange services before committing to Virgo.
My mates are graduated from major french schools like SciencePo, EPITA, ISEG, and Epitech As for myself, I am a self-taught dev. I’m fond of technology and discovered cryptocurrencies in 2016.
After many years of researching on the subject and investing I had the idea of a blockchain technology that could potentially solve the blockchain trilemma: scalability, security, and decentralization.
After validating that my idea was working as expected, I created Virgo!
That’s amazing. I believe you and your team will go far in the future
3. What are the services and products your project is building to tackle the aforementioned issues and what is the role of your token?
To solve these issues, we are creating the first decentralized AppStore! It will consist of a wallet permitting users to download and use dApps safely from a list of available ones.
The software will check the App’s source code directly from the blockchain after downloading it over a decentralized file system like IPFS, making it fully safe and decentralized Also, this platform will fight against censorship by allowing anyone to publish their application!
Indeed, like the tokens on Uniswap, a list of recognized and secure applications signed by us will be made available to users. Still, nothing will prevent them from importing other lists or applications, making the platform completely free.
With a convenient user interface like Google’s Play Store and cross-chain capabilities, it will be the perfect gateway for beginning users! To handle the financial flux inherent to this platform and the Apps on it, we are also creating blockchain technology!
Combining a DAG and a classical Proof-Of-Work blockchain, it is scalable to thousands of transactions per second while remaining secure and fully decentralized.
$VGO will be the main currency and fuel of our ecosystem. It will secure our blockchain, permit users to transfer money and pay to use the different services our dApps offers.
Oh, sounds interesting. I’d love to know more
4. Two weeks ago, you announced on your social media the release of your first testnet, namely “EAGLE”, on December 15. Can you tell us what it will consist of?
The EAGLE testnet will bring our blockchain technology’s first fully functional version to public hands.
On December 15, you’ll be able to download our wallet on our website and test that our technology is working by yourself!
More advanced users will also be able to mine tokens and set up a full node, a bounty program will reward users who are helping us test and improve our technology and products!
On top of this, we aim to release an Alpha version of our AppStore in early 2022, allowing investors to see even more actual products.
Here is the last questions of segment 1.
5. What is your strategy to attract new users to your ecosystem?
Our primary strategy is to create great products that have actual use cases!
Quality is the cement of great ecosystems. But we know it won’t suffice, so we will be releasing programs rewarding users that bring new people to our services, creating a positive feedback loop.
Also, every application on our Store will benefit from others’ visibility: Someone using Virgo for a DEX app will also check on Virgo’s Apps when searching for a DAO or decentralized social media, creating a network effect and reinforcing the feedback loop!
We’ve just done Segment 1 of today AMA. We will move to the next segment now.
Segment 2: Twitter questions (5 questions)
6. Crypto project has 2 main mechanisms that are important for the development of the project, Hodl-to-Earn & the Stake-to-Earn. Can you explain how these mechanisms work in “Virgo”? What roles do they play in the $VGO Token? How do they benefit the users? @Kambon12345
Thanks for the great question!
Apart from the speculative aspect inherent to any asset, further improved here by the real utility of $VGO in our ecosystem, we have a staking program called Virgo Farm!
VirgoFarm is a smart contract is distributes most of $VGO’s supply to holders over more than ten years. With up to 30% APY, we think it is an excellent opportunity to create passive income! To earn, you just have to buy at least 100VGO and lock them using our web interface, you’ll then earn VGO passively every week.
You can learn more here: https://virgo.net/virgo-farm/
7. How can I buy tokens from your project? Will you h!ave a program to sell tokens to users in the near future? @Manlook62098714
8. For your roadmap I would like to ask What are your targets in 2021 and 2022 that you are focusing on? Will Virgo enter the NFT industry in the future? Do you think of adding NFT to your next portfolio? @tuan_iker
Our main goal for the end of the year is to launch our testnet successfully and to release a referral program.
For the year 2022, we want to release our AppStore, make it and our wallet compatible with other blockchains so our products can really be used, and, ultimately, release our Mainnet with smart contract capabilities!
We do not plan to create an NFT project yet.
That is really detailed
9. COVID-19 has had a significant impact on the global economy, and the consequences for many globally recognised enterprises have been disastrous. How has Project enabled and retained commercial financing during this challenging financial period? @Susan13727847
The project was beginning when COVID arrived, it made us abort our incubation at Euratechnologies, but we managed to work remotely! It didn’t impact our financing as the project was living on personal funds. Ultimately, covid wasn’t a significant threat to us.
Here is the last question of segment 2
10. Adoption and business development are essential for expanding your ecosystem. Can you explain what you’re actively doing to get Virgo’s technology into developers hands and how will this lead to the creation of more DApps? @tanmoy284910957
Being developers ourselves, we understand how to create great tools for anyone who wants to create on Virgo! We will carefully listen to our community feedback so we can improve on our technologies and make them as convenient as possible.
So, now, we will move to the last segment of our AMA today.
Segment 3: Live Q&A (5 questions)
Do you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable?
Thanks for your question! Our contracts have been successfully audited by Techrate and DessertFinance! We will be auditing all our codes before they go public so users are safe. Here is the latest one if you want: https://github.com/TechRate/Smart-Contract-Audits/blob/main/November/Virgo%20Project.pdf
Can you share to us your tokenomics? How much is the total and circulation supply of your tokens? Will there be buy back system or token burning in the future?
Our circulating supply is ~1.1M VGO, and our Total supply is 30,032,000! Most of the supply will be distributed over more than ten years using VirgoFarm.
You can read more about it here: https://medium.com/@virgocoin/introducing-virgo-farm-2b61e8cf2896
What are the competitive advantages of your project? What advantages do you have that other competitors dont have ? What would be your project secure most similar contender in the market today in terms of scalability, security, features, and adaptability?
We are the first cryptocurrency that combines the security and decentralization of classical blockchains like Bitcoin with the huge scalability of a DAG, making Virgo a possible answer to the blockchain trilemma: Security, scalability, and decentralization.
In terms of features, we are trying to solve a real problem in the Crypto industry in an innovative way.
Why did you choose the Binance Smart chain? we see some chain pop up with good scalability too, then why did you choose BSC?
We chose the BSC because Ethereum is overloaded, and we didn’t want our users to pay 50$ each time they trade $VGO
BSC was the best solution at that time in terms of scalability and popularity, even if it is not as decentralized as we want to
We will bring our token to other chains in the future, starting with our own!
How can I stay updated about your project???
Provide all possible links.
Our main social media are our Twitter and Telegram group: But we have many more communication channels, you can find them here: https://linktr.ee/Virgocoin
Feel free to join us on our journey!
We are at your disposal in our Telegram group if you have any question
Congratulations on successfully completing the hardest part of each AMA session, which is interacting with investors and the questions they want to know.
This is the end of our AMA today. 😊
Thank you for joining us, it is our pleasure to have you here today @praxls
Thanks for the great AMA everyone!
Thank you again for being here today. Have a nice day! 😁
Have a nice day, Reginald!