we hosted an amazing AMA with Escrow protocol on the 28th of october
And here we will put some of the best questions:
Q1. Can you please introduce yourselves as well as Escrow protocol ?
The Escrow Protocol:
Im Dennis the CEO of Escrow and Founder together with Guillaume
Coco G || I WILL NEVER PM YOU FIRST – BEWARE OF SCAMMER ||:
CTO of Escrow, building the platform and the technology that will improve legitimacy, adoption and success of the market.
In cryptocurrency since 2016. I have been inspired by the creation of EVM blockchain. This lead me to an understanding on what blockchain can bring to the word.
I participaed on first DpoS project such has Lisk. after many years of trading, study, and work on cybersecurity, I always wanted to be an actor and shape this industry, to empower new investors.
We selected a team of people that sharing around mindset and with various skills
Our core developers worked on project like Gelato, My DeFi pet, yearn finance, and other well know project
At personal scale, we also have nice proven record of company, in different country. Canada, Portugal Czech Republic
The Escrow Protocol:
We created the project after getting rug-pulled and having too many bad investment experiences where projects didnt deliver
The ESCROW PROTOCOL is a web platform that allows investors to fund a projects private rounds, but instead of releasing all the funds to a project in 1 upfront payment, they are held in Escrow and get paid out as the project completes pre determined milestones along its roadmap.
The Escrow Protocol makes sure that projects deliver on the things they promise during fundraising.
In addition, while funds are held in ESCROW during the project development, we send those funds to the best performing stablecoin yield farming protocols and send 80% of APY interest back to the investors.
This way investors get the best of both: 1) early investment in a project, and 2) constant appreciation of funds on the YF protocols.
Q2. What are the advantages of Your project ?
The Escrow Protocol:
We are solving a huge issue that the industry has, 85-90% of projects fail within 4-6 months after launch.
This is insane. billions of $ go into the wrong hands and it is really hurting the industry.
Coco G || I WILL NEVER PM YOU FIRST – BEWARE OF SCAMMER ||:
We are creating a full on investment hub here that gives people access to the best DeFi tools, packaged into a nice web/mobile experience.
The Escrow Protocol:
We ensure that the right projects, with good intentions, get the funding they need.
Basically, we are creating a full on investment hub that gives people access to the best DeFi tools, packaged into a nice web/mobile experience.
Q3 please tell us about the goal you want to achieve in this year
Coco G || I WILL NEVER PM YOU FIRST – BEWARE OF SCAMMER ||:
We want to grow our community to we can help educate the market with thought-leadership and technology. We want people to be able to make
safer, more well-informed decisions whilst they enjoy increased returns on their investment.
So that will include a release of a platform MVP, and few more updates.
Staking feature available, KYC, NFT, and surely one or two project late q4.
The Escrow Protocol:
Exactly, our next steps are the first release of our platform so people can start staking their tokens.
Shortly after we will get exchange listed on a centralized exchange. In the coming months we will be releasing the complete escrow web and mobile app in stages. We will be able to host our first project early next year.
Q4. Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?
Coco G || I WILL NEVER PM YOU FIRST – BEWARE OF SCAMMER ||:
Well it is simply. We had, Dennis and I experienced a bad investment back in May, even with 7 years of experience. Then we realized that to many of this happening, and we decided to put an end to that.
We did loosed about 100k in this project.
The Escrow Protocol:
Yes exactly. its really unacceptable that with crypto projects there is such a high failure rate and that project owners are getting away with it.
We are now working on providing a solution that can move the whole industry forward.
Coco G || I WILL NEVER PM YOU FIRST – BEWARE OF SCAMMER ||:
Also, scammers on telegram or other channel are really painfull for the industry. And as a cybersecurity background we had to do something
The Escrow Protocol:
Google it: statistics say that 85-90% of all crypto projects fail.. within 4-6 months after launching.
and project owners get 100% payout… while the investor community is left with ZERO
Coco G || I WILL NEVER PM YOU FIRST – BEWARE OF SCAMMER ||:
we want to clean the industry from this, with the correct partner and toolings. Create an environment safer.
The Escrow Protocol:
we are providing a solution for this built on the blockchain and making it conveniently accessible for being used by the masses
And here we will put best questions from our members and Escrow protocol:
Q1) Yield Farming has provided an avenue to help individuals increase their profits.Token inflation however, will start to happen in the near future so what do you think the impact of this will be to Escrow Protocol? Will this avenue for profit be degraded in the coming months/years?
The Escrow Protocol:
Great question. And what you are describing is 100% true. There is a fine line between paying out rewards and devaluing the price of your token.
We will offer staking rewards in the range of 15% APY with some additional incentives here and there for specific events. This will allow for a healthy and well balanced supply.
Coco G || I WILL NEVER PM YOU FIRST – BEWARE OF SCAMMER ||:
This is why we are using stable yield protocol to assure a zero risk and a stable return.
Further on we will develop an AI that will move the funds accordingly to the best protocol.
We are integrating Aave, Celcius, Blockbank, Anchor as base.
The Escrow Protocol:
There is two types happening on the escrow platform.
The staking of ESCROW tokens to have investor benefits on the platform and project participation and weight in the governance pool,
But then also the stablecoin yield farming on the protocols where we send escrow held funds to
Q2) Hi friends, I saw a notification that you are looking for some new team members, I am very ready to be a member of your team. So, what positions can I apply for? Is there a specific Ethics I must follow? And what work experience are you looking for?
Coco G || I WILL NEVER PM YOU FIRST – BEWARE OF SCAMMER ||:
Your resumes are welcome to info@escrowprotocol.app
Position are currently open in Marketing
Executant and management.
You can also contact us, if you feel that you have a skill that is interesting to our group.
Key word are motivation and passion for crytpo universe.
The Escrow Protocol:
Right. We are building something revolutionary here. Something that will establish itself as the new standard for investing.
Q3) Adoption is one of the most important factors for all blockchain projects to be more attractive in investors’ eyes. So, can you tell us what the ESCROW PROTOCOL team has the plan to achieve adoption in reality?
The Escrow Protocol:
100% The thing with ESCROW PROTOCOL is that you are only getting benefits and no real downsides. Why wouldnt you adobt this way?
Anyone that has invested into several projects will have statistically been rugpulled or experienced some other total project failures.. So these people will easily see the benefit of funding projects through Escrow Protocol. We are getting this confirmed all the time by big name VCs.
I believe from the investor community there will be a large adoption quite rapidly; and projects that have good intentions to follow through, but need easy access to funding, will gladly run through premium accelerators like us because they know that investors on this platform are open to funding with more trust, since there is only milestone based payment release.
Coco G || I WILL NEVER PM YOU FIRST – BEWARE OF SCAMMER ||:
For adoption we have planned multiple axes.
- Investors protection
- Yield farming of sleeping funds ( which can easily being adapted to any event type : compétition, tournament, election.. etc)
- Education
- Chat
- All in one tool.
The Escrow Protocol:
A majority of our raised funds are going to go into marketing. Development is already mostly funded.
We will work with all we got to bring ESCROW mainstream
Coco G || I WILL NEVER PM YOU FIRST – BEWARE OF SCAMMER ||:
We are also white labelling our platform to be able to provide our service to financial institute.
Q4) Security is at the forefront of all old and new projects, attacks are frequent and even with the best known blockchains, how does your project prevent this from happening? Do you plan to expand your business in the region
Coco G || I WILL NEVER PM YOU FIRST – BEWARE OF SCAMMER ||:
Yes of course, especially in a case like ours. Security of these escrow holdings is key.
We take cybersecurity seriously and will even offer educational material on our website that gives users advice on best practices.
Most of the time escrow held funds are within the yield farming protocols and only transfer through the protocol when getting ready to be paid out on the next upcoming milestone funding release.
We decided to start this project based on security and investors protection.
We are in talk with two company.
One to provide audit of smart contract, in order to be at high standards of security.
And a second one to run audit on the platform itself to secured the non Blockchain part.
Later on We will launch a hackathon to our project, partnering with expert in the field.
Let us also add that all protocol that we will use beside are already proven to be secure, such has celcius, Aave, Blockbank, or even anchor.
Q5) You have said that you hope to one day be an accredited ESCROW Platform that has financial authority in the “real world” as well, what do you consider to be the most important objectives to achieve in order to achieve this?
Coco G || I WILL NEVER PM YOU FIRST – BEWARE OF SCAMMER ||:
We are building a network of very important people in the industry, and we all have the same goal. Make escrow an stardard for the industries.
The Escrow Protocol:
Yes, the “real world” expansion is a key focus of ours. We have applications in so many areas its beautiful. For one, we want to replace traditional escrow services with smart contracts that parties can agree on conditions through our Escrow Protocol web interface.
Coco G || I WILL NEVER PM YOU FIRST – BEWARE OF SCAMMER ||:
First we will make the major Vc’s and advisors integrating us as a must have tool, to protect their investement.
The Escrow Protocol:
We have good business contacts already for various integrations in the real world. From sportsbetting to construction developments, there are so many applications we can integrate Escrow into as a whitelabel service.
We want to provide an easy stepping stone for traditional businesses that rely on escrow holdings to plug into crypto.
Coco G || I WILL NEVER PM YOU FIRST – BEWARE OF SCAMMER ||:
Then the branding and the reputation we are building, will assist project to show their community their good intention.
We are also giving to the the tools they need to improve their rentability with a yield farming feature easy to use, and clear.
Q6) NFTs is hot trending now, Do you have buia play to have NFTsoiu in your platform? If so, can you tell str us yhe plans of your project in NFTs?
Yes we have a very unique application for NFT usage.
We will mint NFTs as access badges, like an ID Card, to access features on the platform.
For example, after passing KYC, the platform will mint an NFT for that user and it will allow him/her to access the next tier of information.
Also all contract data like vesting schedule and so on is stored in NFTs
Q7) Escrow Protocol claim that you ensure start-up companies have the necessary funding for project completion, while eliminating the risk of a total investment failure. but how its work? are you give certain criteria for the project who wants some invesment by your investor?
Yes very smart question.
It is working in multiple way :
First we have the fund locked into a pool, that are waiting certain condition to be met to be distribute.
While waiting funds are placed in yield farming protocol, and will be distributed 80/10/10 % ( Community – Project – Us)
Then it has a governance pool that will be working two ways.
Company to ask for extra funding or access to funds.
Investors a way to ask company to provide more effort and better result for a specific milestones
Yes we have a very unique application for NFT usage.
We will mint NFTs as access badges, like an ID Card, to access features on the platform.
For example, after passing KYC, the platform will mint an NFT for that user and it will allow him/her to access the next tier of information.
Also all contract data like vesting schedule and so on is stored in NFTs
At Escrow Protocol, we understood the importance of NFT and we are using in multiple way.
Domain name, unic and for life, with Butterfly technology.
Secret feature with Ternoa intégration.
Also NFTs are a vital part of our process :
NFT to proof your identity with score card feature.
NFT access carding associated to our chat feature.
NFT redeemable with wrap up of sales from the project you was in.
Q8) Many projects have problems with UI / UX and this one turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?
We have two upcoming strategy on that point
UX/UI is one of our main priority.
As a project that will assist the industry to grow, we have to be user friendly and has a very nice looking.
This is why, our first strategy is that we have 2 UX/UI designerswith great portofolio and proven record.
They are building the core, and a very nice looking MVP for an alpha release.
Then, we are in talk with giant in the industry to push it to a whole new level.
We understood that matter, and we are really aware of this important point.
Escrow, will be fine tech, cutting edge tool, safe, and very easy to use
Q9) What is the role of a token in your ecosystem? Can you tell us a little bit about your project tokens?
The ESCROW token is used to participate in the funding of projects, holding ESCROW tokens will give you weight in the projects governance pool and should important decisions need to be made, like blocking funding of a project, the stakeholders will have voting power to represent them.
Also Yieldfarming kickbacks are tied to your ESCROW holdings.
Also, the ESCROW supply will be used up for minting the various NFTs for each project.
Q10) Do you have an ambassador program available? If yes, how can I join it? May I know what is the benefit available to the ambassador?
Hi there, yes you can participate in this program. We will always have ambassador programs going on to help spread awareness for the project.
Check this: https://gleam.io/r6iH6/escrow-token-giveaway
And this was the end of our AMA with Escrow protocol.
If you have any other questions you can ask here:
https://t.me/Escrow_Protocol_Chat
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- https://www.escrowprotocol.app/
Facebook :- https://www.facebook.com/Escrow.Protocol
YouTube :- https://www.youtube.com/channel/UCRu2OSRV6gMWStoWCgXyiuw
Instagram :- https://www.instagram.com/escrow_protocol/