Virgo x XT.com AMA resume
Hi, everyone! Welcome to the XT AMA Channel. XT is honored to invite Virgo today. Let me give a brief introduction to XT first.
Today, our guest is Lalin Hugo Let’s talk to him to learn about Virgo. Hello Hugo, thank you for joining us for the XT and Virgo AMA!
Hello everyone! I’m Hugo, founder, and CTO of Virgo. It’s a pleasure to be here!
Can you give our audience a brief introduction of Virgo ?
In short, Virgo is creating a decentralized AppStore to make the distribution of dApps simpler and safer.
To power this platform and the applications on it, we are also creating a state-of-the-art cryptocurrency.
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.
Can you give our community a brief introduction behind the inspiration to build Virgo ?
We find dApps and the crypto industry in general pretty hard to access for casual, non-initiated people.
Great projects are dispersed between many technologies and platforms, making themselves hard to find and cumbersome for most users.
Also, most dApps interfaces are currently distributed and accessed through centralized means, like a simple website. It creates a major weak point, as an attacker successfully gaining control over this website would just have to change contract addresses to steal from users, robbing them without means to notice beforehand.
Imagine PancakeSwap being hacked for just 10 minutes; The hacker would steal over 20 million from users!
That’s what we want to solve and prevent!
In the Crypto industry, what do you think of the current state? What do you think that needs to be improved?
The crypto industry is seeing a boom in its adoption, which is great! Crypto has never been easier to buy, thanks to platforms like Xt. But most new coming people still struggle to understand the true benefits of Blockchains and decentralization, as well as accessing DeFi and Web3 in general. More efforts are needed to educate people about the technology and to further ease access to dApps.
How does the Virgo team plan to tackle these issues to reach mass adoption?
For this, Virgo is planning to make its AppStore and cryptocurrency as easy as possible to use, listening to users’ feedback to continuously improve.
We will also create and incubate more dApps projects to grow our ecosystem, so there is a decentralized alternative to anything in our ecosystem; Making every app in it more visible and accessible, pushing global adoption.
Our long-term goal is to be a simple and safe gateway to the cryptocurrency world, making the web more decentralized.
What is your timeline, and what can we look forward to from Virgo ?
Successfully launched our token on October 12, and are now listed on Xt!
We released VirgoFarm, our passive staking contract that will distribute most of our currency’s supply over more than ten years to holders, with up to 30% APY.
We are currently focusing on releasing our testnet by next month and creating an MVP version of our store by the end of the year.
We plan to prototype a first dApp, a fully decentralized chat, like telegram but without centralized servers, further improving privacy!
For the upcoming year, our goal is to release our mainnet with smart contract capabilities and release with it a full version of our store.
We also target to make more strategic partnerships with other actors of the industry.
Anything else do you want to share with our community?
Thanks for your questions! If you want to read more about Virgo after this AMA you can start by visiting our website: https://virgo.net
It will also be a pleasure to discuss and answer any of your questions in our community Telegram: https://t.me/virgoCommunity
Feel free to join us!
Thank you, Hugo, for taking the time to do this AMA with us today. It has been great learning more about Virgo!
Next is our favorite session : Free Q&A by community and Virgo. Hugo will pick 10 of your questions to answer with 10 USDT EACH. Let’s go.
Does your great project support staking program? If yes. how is your stake system work, what is the requirement for user if they want to stake in your platform?
We have a program that permits you to stake your VGOs and earn up to 30% APY! You just have to lock at least 100VGO and you’ll automatically receive your rewards every week, learn more here: https://virgo.net/virgo-farm/
I am an EXPERIENCED DEVELOPER AND ETHICAL HACKER, does you have plans for HACKATHON so as to check the security of your ecosytem periodically and also invite developers to build?
We will be releasing bug bounties campaigns and hackathons regularly with our testnet release! Third-party developers feedback is very important to us as we want our product to be as safe and easy to use as possible
What are plans in for global expansion? Are you focusing on market at this time or focus on building and developing or getting customers and users, or partnerships?
The most important thing for us is to build great products, marketing is great but we don’t want our project to be only speculations. Buy because of our results, not because we are going hard on marketing!
How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?
We see our project as a global one and are doing efforts to develop local communities! You can find all our media here: https://linktr.ee/Virgocoin
The idea of project is really unique and incredible, how did this idea come about?
I came out with this idea in 2020 when some friends started to be interested in crypto but were having a hard time dealing with dApps
Smart contracts are susceptible to failure and many projects fall victim to this, costing users money and the project discrediting. How reliable and secure is your smart contract? Have you tested it through any of the parties?
All of our contracts are audited by third-parties before getting published and are strictly following industry standards, you can find the most recent audit here: https://github.com/TechRate/Smart-Contract-Audits/blob/main/November/Virgo%20Project.pdf
What is business model of your project? How it works? And who are your potential customers and which markets are you targeting on?
Part of the total supply is reserved to the team to fund development, but you are right, this is not viable in the long term! Our company will be making money out of its platform and apps with a small dev fee, but also by providing services directly on it.
How your tokens are in circulation and what is your total supply? What is the schedule for Unlocking of listen token? In short, please assist us with your structure of Tokenomics?
The total supply is 30,032,000 VGO, ~1.1M is currently in circulation, the rest will be distributed over more than ten years to holders via VirgoFarm! This permits to prevent whales from buying all the supplies early and then controlling the price. You can learn more here: https://medium.com/@virgocoin/introducing-virgo-farm-2b61e8cf2896
I want to support your project, Tell us more about the Ambassador Program and in what ways can we participate ?
There is no ambassador program released yet, but our marketing team is working on it!
How can I buy this tokens? Is it available on any exchange?
Our token is currently available on Xt.com under the VGO/USDT pair, and on PancakeSwap with the VGO/BNB pair! You can find the links on our website
Whats the current price ?
Contract please ?
0xbEE5E147e6e40433ff0310f5aE1a66278bc8D678 ! You can also buy on Xt.com, it might be more convenient
Thank you Hugo for taking your time to do AMA with us!
Thanks for the great AMA!