Orange Community AMA #2 Recap


Updated on:

Participants: Orange / Damon


Topic: Bitcoin Meets DeFi

Date: 03/11/2024

Length: 1:04:44

Summary: In this AMA, the CEO Damon Nam provided updates on Orange’s progress over the past year, including launching their token, listing on multiple exchanges, and soon releasing their Orange wallet and blockchain explorer. He discussed their innovative loyalty rewards program that allows staking without having to give up custody of tokens. Damon outlined their utility model for the Orange token centered around governance, rewards, and fee discounts. He highlighted upcoming partnerships with major players like Binance, MetaMask, and Microsoft. Looking ahead, Orange is prioritizing listings on top-tier exchanges, expanding their team, and ensuring their wallet integrates with every new Bitcoin DApp and layer-2 solution being built. With a goal of becoming the go-to wallet for the Bitcoin DeFi ecosystem, Orange is rapidly executing on an ambitious roadmap.


DAMON: I’d like to go ahead and provide an update just where we’re at right now, including what we call our areas of opportunity. So kind of as we go through this process, we’d like to acknowledge just some of the great work that the team has done in the past. Then we start talking about the present in terms of updates and then from there the future and where we have areas of opportunity where we can improve, including maybe even asking our community for help on some of these areas as well. So let’s just talk about our past achievements here. Right? For those that haven’t been alongside our journey from the start, I’ll just kind of provide a quick update in terms of some of the achievements that we’ve been able to obtain over our journey, our duration, and just to give everyone some light and get everyone up to speed here. So we started our journey with Orange about a year ago. As everyone is aware, we are building an ecosystem of decentralized finance, DeFi products and services solely focused on the bitcoin ecosystem. So obviously that includes bitcoin as well as all of these new standards that are coming about, including our very own the BRC20 ecosystem, as well as others such as SRC20s, ARC20s, ordinals, and all the layer two s that are coming about as well. And as everyone has seen, there’s a lot of energy and focus towards the build on bitcoin, the DFI on bitcoin narrative. So we know of a lot of projects that are building to be able to expand the bitcoin ecosystem. There’s a lot of l two s coming about and we want to operate at the infrastructure layer to be able to support all of the builders and founders that are building a lot of creative solutions in this space. So to date, we’ve been able to engineer ourselves a number of different products in order to support that. Our primary product is our Orange wallet. I’ll provide an update on that shortly. We also have other tools within our ecosystem as well that help users just navigate their crypto journey and bring them into our ecosystem. So, for example, last week we launched Orange Market cap, which is our data aggregator that provides statistics on anything bitcoin related, including all the standards, which plays into our larger strategy because we utilize that data to feed into our own products, as well as some other use cases, including a business model where we want to be able to sell that data to businesses. We want to be able to utilize that data for our assistant and so on. Today we’re going to be launching our Orange Explorer, which is a blockchain explorer where you can view any bitcoin transaction within the network as well. In the future that will expand out to other standards, we’re building out an indexer that allows us to be able to get any data upon BRC twenty s and some of these newer standards so we can utilize that data for our own products. As I mentioned, there’s also other products that we’ve been engineering and working on, including a bridge and then our assistant product. And so if we look at our current achievements as we’ve been engineering over the past year, there’s been a lot of focus in terms of just engineering and development. Over the past couple of months, a lot of our activity has been focused on business development and operations as well. So for those that are not aware, we are VC backed. We have nearly 20 VCs that have been on our cap table and have helped us kick start our journey and provided some initial seed investment. We opened up a token offering about a month and a half ago by which we also launched the Orange token, our own native BRC20 token. When we launched our token, we had four centralized exchange listings on our initial launch. Anyone that knows and follows the industry knows that it’s not easy to be able to even establish relationships with centralized exchanges, let alone get listed, especially this early on within a token’s life cycle. So we’re very proud to be able to not have just one, but actually four centralized exchange listings on our launch. That number has grown to seven over the last month and a half, another achievement that we’re very proud of because one of the things that’s very important to us is to ensure that the availability of the token and liquidity are very strong. So that continues to remain a priority for us. We released one of our products last week in beta. So for those that have had a chance to take a look at some of the work there on Orange market cap where you can find it at you can see some of the initial work that we have just around data aggregation. We also leverage that data inside our wallet as well as our decks that we’re building out. We plan to open that up and have an API available so that other developers can utilize that data that we’re leveraging as well. From a token perspective, we reached all time highs at 13x of our offering price. Price has consolidated down to about seven x and has maintained kind of this consolidation phase where it’s been floating around a particular range, and it’s still maintained that  7x, even after our largest unlock, that occurred about a week ago. So despite some concerns and feedback about this unlock, which was 30% of our total token supply, we had a lot of holders and potential holders express concerns about the potential dumping and going below TGE price. We’ve been able to maintain a fairly good multiple even after that particular event. And so with that behind us, we’re very optimistic about our future, about the price, performance and potential of the token itself. But even more so, we’re extremely excited about our roadmap and what’s to come. And so despite the fact that we’ve accomplished quite a bit in a very short period of time, we’re very optimistic and excited about what’s to come. And I’ll give a glimpse of what that means. So last week, we announced our loyalty program, and essentially we leverage what most people are familiar with from a loyalty perspective, staking. And what we’ve done is we’ve devised a very innovative way of being able to track tokens while still allowing these tokens to remain in your custody, so that you can still display your loyalty and earn rewards from that loyalty using our indexer. What we do is we essentially track when wallets reach your wallet and you’re rewarded for those tokens, never moving. Traditional staking programs require you to send your tokens to typically a smart contract, where it’s a bit more unsafe. Because smart contracts can be hacked, there could be security flaws, they could potentially get drained. In our staking model, you retain full custody of your assets. All you have to do is maintain them within a wallet that you own, and then from there you naturally accrue points. And so unlike other staking programs that have a yield program, which you earn some sort of percentage yield, and then you get rewarded in the token. In the Orange loyalty program, it’s a points based system, so it’s equivalent to earning miles like in an airline program. But in our case, as long as you just hold the tokens within your particular wallet, you automatically accrue points. And if you decide to move those tokens, let’s say, to another wallet, then the old wallet will stop accruing points, and then the new wallet automatically starts accruing points. So the goal and intent of this program was to allow people to be able to demonstrate their loyalty, earn rewards while having the maximum security and making it as easy and seamless as possible. And so using our indexing technology, we can sense when tokens are deposited in a particular wallet, and then from there, based upon how, let’s just say dormant, they are, meaning the duration of them, not moving in, the amount of tokens that you actually have. We have an algorithm that calculates the amount of points that you earn. Even going beyond that, we wanted to make the loyalty program even more dynamic than traditional staking programs. So as I mentioned, traditional staking programs, you earn a yield, you get the token back, and there’s not much flexibility to that for us, especially as everyone’s goal is trying to make crypto much easier. We wanted to have a reward system that allows you to accrue points that you can spend any way that you want. So we’re going to be opening up this month what we call the Orange rewards portal. And in the future, the rewards portal will not only display how many points that you’ve been accumulating, it also displays things such as the amount of tokens, duration, et cetera. But then you’ll have your choice of rewards where you can actually pick and redeem rewards based upon the points. And it’ll be more like an ecommerce type of retail shopping experience where you can select different items and spend your points in various ways. So this gives you extreme flexibility in terms of how you want to be able to be rewarded for your loyalty. And it’s something that we’re very excited about because you’re not fixed into a particular type of rate or particular reward system, you have the option of really choosing the way that you want to be rewarded for your loyalty. Some of the rewards within the program will include an ordinals collection. It’ll also include merchandise. So we’re in the process of manufacturing just as kind of complementary to be able to expand our brand and incorporate fun aspects into it, some hoodies and socks, so folks can certainly redeem for that as well. And then we’ll also incorporate tokens from partner projects, including those that may list within our launch pad, as well as maybe want some extra visibility from a marketing perspective. And then lastly, two things that we’re excited about is you can actually redeem tokens for a couple of future projects that will be launched within the Orange ecosystem, one of which is a bitcoin game, as well as a layer two blockchain solution that we’re working on as well. So those are all solutions that we’re extremely excited about and extend our ecosystem, but more so excited that as an Orange holder, you’ll be able to redeem those as rewards for your loyalty. We have seen very strong adoption into the staking program or the loyalty program already over the past week, especially with our OG bonus where you’ll accumulate some extra tokens for staking early. We’ve seen a nice size of outflows coming out from centralized exchanges and people moving funds into their own wallet. We expect that this to continue, especially as we give previews of some of the rewards that you can earn. And what this does is it creates a nice supply demand dynamic where more tokens are removed off the market, and as a result that obviously helps with long term price value. From a token perspective, some of the other things that we can look forward to in the near future here, especially over the next two months as I mentioned, we’re releasing Orange Explorer today. We’re going to be giving a preview of our Orange assistant here this week. We are on deck to release the Orange wallet later this month. As an update on that, we had an audit report delivered to us by Hacken which outlined a number of issues that they recommended that we resolve from a security perspective. The positive thing from the report is there were no critical issues that were reported or discovered, which is great from our perspective. They had some great recommendations in terms of how we can improve certain areas of our security aspects. Some were higher priority and others were just minor issues such as making password requirements stronger and things of that nature. We’re working to remediate all those issues and then what will happen is once we do that, they’ll do another final audit report, and then that audit report will be published publicly so everyone has full visibility on it. And then immediately following we’ll have a large campaign as well as the public release of the Orange wallet. We’re expecting to complete that by the 26th of this month and then getting our final audit report following that and then opening up the wallet for immediate release. We’ve also been working on a bridge product here for a few months and we’re looking to release that in beta around the same time as the Orange wallet. So what that would mean is over the next few weeks here, especially with the release of our beta of Orange market cap and Orange Explorer this week, that would have been four product releases in the span of less than two months, a milestone that we’re very proud of and is a culmination of months of hard work that we’ve been working on over the past few months, and we’re very excited to bring those to light. We will have two additional centralized exchange listings this month. They’re not tier one exchanges but they have been working with us here for quite some time and have had interest in listing Orange, and what we want to do is continue to expand both the availability and increase the liquidity of the Orange token so you can expect those listings to hit within the month. We have some large announcements and collaborations that we’re going to be doing within the next few weeks here. Starting off with this week, we have a campaign at the end of the week with Binance. More details will be revealed on that here throughout the week. We do have some exciting announcements with partners, such as consensus and some work we’re doing integration with Metamask, including some things that we’ve been doing with Microsoft as well. We are hiring and expanding and scaling our team that includes both on the operations and engineering front. So obviously, as a company that is focused on building and doing whatever we can in order to create solutions that really help expand the space, engineering is a very big focus for us. We have some positions out right now where we’re looking for some additional full stack devs, as well as a rust engineer. For anyone that has referrals or has experience in that area, we’d love to be able to get some insights and review those resources. We are also looking for some business development managers to help us on the bd side, some folks that have experience from a sales perspective and expanding out to different regions. If we look at just the future and what’s to come ahead as well, some areas of opportunity where we can get much better at and where we can improve. If we look at our progress to date, although we’re very proud of the progress, one of the things that I would say that we can improve on is certainly our depth of relationships in certain regions. So being that our area of concentration has primarily been Europe, in America, in the US, we need to do a better job of being able to expand out to other regions, especially regions that have stronger concentration and interest in BRC20s. So some of those areas where we can definitely grow and improve are obviously Asia itself. I would be the first one to admit that there’s a lot of opportunity for us to get deeper and drive deeper relationships there also in the MENA region, right? So the Middle East and Africa, and then certain areas of Europe where we can drive deeper relationships, including Turkey and Russia and other areas of Asia as well. Right? So Korea, China, Vietnam, et cetera, all these regions have very big, large communities when it comes to blockchain and crypto, and these are areas that we need to drive and become better in. So we are hiring folks to be able to help us really expand into those areas. In fact, we’re bringing on a resource to really help us in the China area, in that particular region this week. The other areas of opportunity for us as well. Even though by the end of this month we’ll be listed on nine centralized exchanges, we really want to put a core focus on tier one exchanges. So obviously that includes the giants such as Binance, OKX, the Kucoins of the world, even Bybit, et cetera. And we’re still working those angles. I will say we’re in touch with all of those teams and we’re developing some good, strong relationships there. We feel very optimistic about being able to work with them on a more strategic level and getting listed in the future. But certainly we’re not listed on any tier one exchanges right now, and that’s a priority for us. And then we’re going to continue to drive a lot of deep partnerships and collaborations within our business. Right? So that includes not only just business development and making sure that we drive deeper connections with people in the industry, but user acquisition and making sure that we’re listed on every DAP that comes out is a huge priority for us. So we envision a world where we look back two years from now, knowing that there’s going to be thousands of DApps that are going to be deployed on layer twos for bitcoin itself. We want Orange wallet to be a huge option on each one of these Dapps when you press connect wallet. And so that’s a huge opportunity for us. And obviously hiring and having bdms that help us drive these type of relationships and making sure that we can get Orange wallet deeply ingrained into these ecosystems. And DApps is a huge priority. So at a high level, hopefully that provides more insight into just where we’ve been, the updates now and what we’re looking forward to. As far as some of the priorities for the business, I know a lot of what I provided answers, a lot of questions that were listed inside of the Twitter thread, as well as some that we got from the community. I’m going to jump in a few more questions here, just regarding some of the community feedback and questions that we received. So one question that we received that tend to have a lot of questions upon within our community itself is what’s the utility of the Orange token and how can we make it, or how can we give it more utility so that it adds more value. We actually have a page within our document section for those that aren’t aware. So we have created our own Gitbook where we house a lot of our documentation, and that includes both operational information as well as on our products.

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One of the pages on there talks about the utility of the Orange token. And there are three core areas that we think of when we think about token utility, the first being governance. So we want Orange to be the method that you can use in order to be able to kind of have a voice in a community when it comes to decisions. Ultimately, we want to be able to open source all of our products, as well as ensure that Orange is highly distributed when it comes to core key business decisions from an operational and even a product perspective. So we’re going to be opening up a governance portal in the future where you can leverage the Orange token to be able to create proposals as well as vote on proposals. And so the first utility itself, like many other companies have done, is to be able to give power to its community. So the first utility component of the Orange token is governance. The second is around rewards, right? So we want Orange to be your vote of record where you can actually receive rewards based upon obviously your loyalty, as we discussed earlier with our staking program. And we want it to be a culmination of rewards. I mentioned a number of rewards earlier. There’s also this notion and thought of at some point allowing the community to be able to accumulate rewards for our business revenue model as well. We generate business revenue from a variety of sources, including in the future, selling our APIs, as well as our fiat on ramps, having a fee for that, and then for swap transactions, having a fee for that. But we have multiple ways of generating revenue. We want to be able to share a percentage of that revenue in the future, in the reward of perhaps even direct bitcoin. So the general idea is, as we generate revenue as a company, from there we’d purchase bitcoin off the market, and then that would be an option as a potential staking reward for you to redeem. So the second piece of utility for the token would be around it being a rewards token. And then in terms of the last component here for the token utility itself, it also serves as your store of record for platform fee discounts. So as I mentioned, we have multiple ways of generating revenue. When you leverage any of our dapps in the future and you connect your wallet, if your wallet is holding Orange tokens, then you would also obtain fee discounts for any of the services that you might be executing. Again, swap discounts, fiat on ramps, off ramps, et cetera. So going back to some of the questions here. A lot of these questions are actually around utility. Let’s see here. Daily trading volume is very impressive, though I still believe that there’s a potential to increase that in order to achieve higher volume. What strategies will you take into consideration in order to achieve higher volumes? So for those that aren’t aware, we’ve been slowly growing our daily trading volume with the help of all of you since we launched a month and a half ago. So initially, when we hit the market, we’ve always been trading around 2 million in daily volume. And as we’ve increased our exchange listings, obviously volume has increased. And that’s primarily because of the availability, it becomes more accessible to a lot of different audiences. There’s more exposure because we get additional help and marketing from the exchanges. But on top of that, those audiences, they get recognition and they become aware of Orange. And then based upon that, they can join our ecosystem as holders. So over time, we’ve been growing from 2 million to about four, about, I would say maybe about three weeks ago. And more recently we’ve seen it increase to 6 million. And so something we’re very proud of because when you look at the space in general, BRC20 tokens tend to not have very strong volume, especially at these levels, unless they’ve been on the market for quite some time. And so obviously you have the leaders which some of the meme tokens, Ordi and Sats and Rats, they have extremely high trading volumes. And part of that is because they’re also deeply penetrated within the asian regions, something that we’re very focused on. But for our journey only being out for a month and a half, having the trading volumes that we have now is a huge achievement for a BRC 20 token, especially this early on. So we’re very proud of this. But obviously, in the context of this question, we definitely want to be able to increase that. And so our strategy in order to be able to do that is just to, quite frankly, list on more exchanges. Right. So to the points I made earlier, the more accessible it is, the more exchanges that it’s on, the more exposure that we get, the more users and the holders that we can gain. And we’ve seen that naturally happen, as well as our holder account has continually increased over this period of time. And so as we’re very focused on tier one exchanges now, those type of exchanges tend to have very huge audiences, which once getting listed on there drives much deeper traction and adoption. So we can expect trading volumes to increase immensely from there.


So someone asked, I have a question here, considering the market conditions, how does the team intend to make this project stand out? And a lot of this can be tied. This question here could be tied to, really marketing, right? So when we think about marketing and when we think about the industry in whole, as we’ve talked about before on previous AMAs, as well as just connecting with our communities inside of telegram, discord, et cetera, surprisingly, if you look at the bitcoin ecosystem, if you look at bitcoin overall, even though it’s a gold standard, there hasn’t been as much tooling and as much energy and excitement around it over the past ten years or so in comparison to a lot of these other side chains that have been launched, which represents a huge opportunity for us and one of the reasons why we decided to step into this space and focus on infrastructure. So even when you look at it from a competitive standpoint, if we look at some of the wallets that are out on the market today, the largest players are Unisat, Xverse, Leather, et cetera, and none of those are household names. So one, we’re still very early. And if you look at some of those competing products, especially from a user experience perspective, especially from a marketing perspective, there’s a lot of opportunity for us to gain ground very quickly because we think the market is still very wide open and there’s opportunities for early players, not only just Orange, but anyone in general, to really penetrate the market very quickly. So for us, we understand that a key to success and being able to penetrate and drive deeper adoption and get more product awareness will have to stem from very strong marketing as well as business development for partnerships, so that we can get listed on every DAP that’s out there, making sure that the Orange wallet is an option. Every time you press connect wallet for any one of these Dapps, obviously with marketing, we need to have strong campaigns that pull people into our ecosystem. We need to continue to work with Kols in order to get our name out there. The fortunate aspect is we have had all of the kols that have mentioned Orange in some sort of capacity since we’ve launched have happened organically, meaning that they’ve invested in the project itself some way or another. We haven’t had any type of pay arrangements or engagements with any Kols that certainly could potentially change in the future. And if we do do that, it wouldn’t be one off engagements where we just ask for shills or anything of that nature. Right? We like to work with folks strategically, and so we have been talking to some Kols to potentially do some brand ambassadorships, et cetera. So we’ll continue, or we would go down that front. And then obviously there’s other marketing things that we can do, including events, sponsorships, there’s digital ad strategies and things to be able to continue to get our name out there. But our core focus will be on collaborations and partnerships and working with reputable firms to be able to get our Orange Wallet integrated, as well as just working with firms overall to be able to support their tokens within our wallet, which should acquire their community into ours as potential new holders, as well as just drive user acquisition and adoption into the wallet.


Someone asked about the business model of Orange, which we spoke of in terms of our revenue model. There will be some additional revenue sources that I won’t discuss today, but we do have planned as well that help us just continue to ensure that we make this a sustainable business over time, so that even as we approach maybe bear markets in the future, Orange continues to be a household name because we drive strong utility that people provide, that are able to get value out of, as well as we generate revenue that will ensure that we last through future bear markets.


How does Orange market cap cater to the growing demand for comprehensive analytics on BRC20 tokens and other tokens? What benefit does it bring to users? This is a great question because a lot of people are sometimes when they hear about Orange market cap, they think, okay, well, I can just go to coin market cap and find that data as well. And while that’s true for some certain aspects of data, one thing that you can’t get from some of these sites, including Coin gecko and coin market cap, is information around BRC20 tokens, or maybe SRC20 tokens specifically. And what I mean around that is in order to be able to ascertain certain data points, you need to be able to have indexers to grab that information. All right, so let’s say you want to be able to know what tokens are holding, particular BRC 20 token. In order to do that, you can’t get that data today from Coin market cap. You might be able to get it from other sources such as like Unisat, et cetera. But there’s not one place right now where you can go to get all of this information about bitcoin and all of the standards that are being created. And there’s a lot of founders that are, and a lot of experimentation that’s happening where things are being built very quickly in the bitcoin ecosystem. And there’s just not a place to aggregate all of this data together. So one of our strategies behind Orange market cap was to be able to do that. And not only is it just for general consumers to be able to find and pull this information, but we actually use that data for our own use as well, inside of our own tools, our own dapps, et cetera, so that we can, one, we can certainly save on costs from having to pull this data from anywhere else, but then two, make sure that it’s self serving for our ecosystem. And then three, we have data that we can actually generate revenue from by creating APIs and charging other businesses for it. So it gives us a b to b model. So Orange market cap represents a huge opportunity for us because we are able to use that data itself. But then it’s also very valuable for consumers because if you want to know specific information about a certain standard, you can find it all in one place as well. And you can find it very seamless. The initial version, this v, one version of Orange market cap is again just our initial beta launch. It will be improved continuously over time. We’re going to continue to add different data points. We want to be able to even extend the data to include metrics such as TVL for bitcoin related projects. As you all know, there’s a lot of bridges that are coming to market. It would be good to be able to know how much money or value is locked within these bridges to provide more transparency for the industry, et cetera. But these are all things that are part of our initiative to be able to help consumers as well as help the data within our own products.


I’ll answer one more project or one more question here and then I’ll open it up for the floor. Let’s see here. I’d like to know when the wallet will be released. We mentioned that earlier. We’re expecting the end of the month after we get the final audit report from Hacken. How low gas fees we can expect with the Orange wallet and compared to other wallets. So gas fees are going to be pretty consistent with how bitcoin fees are in general. Right? So when you look at a lot of the transactions that happen within BRC 20 tokens or any of the current bitcoin standards, they all execute on the bitcoin blockchain itself anyways. And so they’re very correlated in line with what you would pay for normal bitcoin fees. So that will be consistent. Obviously you can increase the speed of some of the transactions by increasing the gas fees and whatnot. But overall, the gas fees and the time to confirm are going to be pretty consistent. I’ll go ahead and open up the floor here to answer some questions from the community. I see a number of folks have requested, it looks like to ask some questions here, and then from there we’ll look to wrap up the call. So, Finn, I’m going to add you as a speaker here and then Jabaro as well. Anyone that’s also interested in asking a question, please raise your hand. We’ll add you up as a speaker and then you can feel free to ask your question. So, Jabaro, looks like you have the floor if you want to ask your question.

JABARO: Hello, Orange,

DAMON: How’s it going, my man?

JABARO: I’m doing great. So you’ve said everything. So I just want to know, do you have an ambassador’s program and how optimistic are you about winning impending run which releases the whole thing from being moving so quick? How are you positioning yourself for this run?

DAMON: So I got the first part of your question about ambassadors, and so we currently do not have an ambassadors program. We do intend to open one up in the future, obviously, because we want to be able to have an army of folks that help us just spread the word quicker. Right now, our strategy is to leverage our collaborations and partnerships in order to really help us spread the word as fast as possible. But to your point, having ambassadors and a big army behind us to help us spread the word is very important. So we’ll be asking members from our community and folks that have experience in this area to really help us in the future. The way that we’re going to think about ambassadors and our ambassador program, it’s going to be on a regional basis. And so we’ll look to bring on people into the team that have some sort of regional focus in the areas where we want to develop growth and concentration. And so, yeah, look forward to that opening, I would say after we hire some business development managers in certain areas, and then we’ll shed some more light upon that. The second part of your question was, I didn’t quite understand or get that. Can you repeat that again?

JABARO: Yeah. How are you positioning yourself for the bull run?

DAMON: So, you know, the great thing about the bull run, especially being in the bitcoin ecosystem, is you become highly correlated with the performance of the asset you’re tied to. Right. So if your ERC20 token, if Ethereum does well, you’re correlated. Your token kind of follows that. In our case, we’re building on bitcoin. We’re highly correlated with the success of bitcoin as well. If bitcoin performs well, we do well. If it does not, then obviously we follow suit. So, one, we’re highly grateful and excited to be correlated with the gold standard. Two, we think we can take advantage of the bull run by just making sure that we execute and we execute quickly. We understand how important it is in order to be able to be fast in the market. We have experience in this in the past where I’ve worked with projects before where since everything is based on timing, if you don’t execute quick enough, then you certainly miss a lot of opportunities. So we’ve certainly learned the hard way in the past. We’ve created different processes and have different talent on board that operate on the same principles. In knowing that we build fast, we break fast, we iterate, we fix, and then we continue to build and go through that cycle over again. And so that’s one of the reasons why we want to be able to release these products out to market very quickly, execute quickly, and then using the data that we have, look at the areas where we have the most product market, fit, the most traction, really focus and dedicate a lot of our resources in those areas and then try to capitalize off of them.

DAMON: All right, Finn, you should have the floor. Finn, if I think you’re still on mute.

FINN: Hello? Am I audible?

DAMON: Yes, we can hear you.

FINN: It’s been an educational session. I can see you guys are building a very nice community here. I have a question. Like, we’re in the bull market right now and we’ll be seeing a lot of projects that will be coming up, some with utilities and some features coming and taking advantage of the market and rob, so I want to know, how does your ecosystem plan to control the front running or other type of market manipulation within your ecosystem? And secondly, talking about the technical aspect of your project, like, could you explain how secured users interactions are within your ecosystem?

DAMON: Yeah, great questions. In the first part of your question, what it comes down to is just doing our most due diligence as possible and even getting our community help in that process as well. We’ve noticed even over the past couple of months, because of how quickly we’ve grown, especially organically. Right? I remember the day where we were sitting in our telegroup gram groups and we only had 300 members and we organically have grown to now 5000. Same thing on Twitter when we were just sitting at about 1000 members and now we’re up close to 20,000. And I remember when we even had folks that were suggesting, hey, you guys should boost up your numbers and on all that. And we refused, just so that we could focus on the right metrics. But by getting the community’s help and helping us go through this due diligence process, especially with projects, is something that we want to be able to do because it gets more eyes involved. It helps us with vetting a lot of the partners that are approaching us, because what we’ve learned over the past two months here is with every bull market, there’s a lot of interest in capitalizing off of it in a very short period of time. So we’ve been approached by an endless number of projects, especially those that are with anonymous founders, that have said, okay, we’d love to partner together, let’s do some sort of announcement. But yet they don’t have any products. They’re about to IDO quickly, they’re about to raise funds. And we’ve taken that kind of cautious in terms of who we want to select, in terms of partnering with in order to protect our reputation, as well as make sure that we don’t mislead our own community and maybe driving people to the wrong projects for that, it comes down to more due diligence and making sure that we do more research and only align ourselves with folks that are reputable, that have a reputation, that are docs, that things like that, or come with a strong referral from people that we trust. And we’re going to do that and share more of these opportunities with the community. So you guys can help us bet as well. From a security perspective, the great thing about our products is that they’re noncustodial, meaning we never have access to any of the funds that are within our ecosystem. You always maintain your keys, you have self custody, you’re in complete control of your funds. And the great thing about bitcoin is the fortune. And the bad thing is that there’s no smart contracts, right? So there’s nothing to be able to hack other than hack the bitcoin blockchain itself. And so when it comes to transactions, it’s the most secure blockchain available in this space. So even when it comes to transacting and using our wallet or perhaps things of that nature, then you can be rest assured that unless you can hack bitcoin itself, you’re in a very secure environment. And you combine that with it being noncustodial, it provides for a very safe environment. And then third to that, if you couple that with audits in the security process and standards that we have in order to make sure that products are audited and those type of things. These are just some of the actions that we take to make sure that your funds are safe and you’re operating in a secure environment. So I see, Octavia, you’ve requested throwing up a lot of emojis. So I’ll definitely add you as a speaker here. I’m going to add a few more speakers from people that have requested. All right, Octavia, you have the floor. Octavia, are you there? You’re on mute if you’re trying to speak. Okay.

OCTAVIA: Am I audible?

DAMON: Yep, you’re available.

OCTAVIA: Okay. My question is, revenue is an important aspect for all projects to survive and maintain the project company. How have you been able to build a complete project, and what is the way to generate profits or revenue from the token? What is the income model?

DAMON: Yeah, thanks for asking that question. As I mentioned earlier, we obtain revenue. At present, the business revenue model is based upon a few things. So we have partnered with a couple of companies in order to provide a fiat on ramp service within the wallet. And so when you buy, let’s say, bitcoin or an asset that one of our fiat on ramp providers provides, and it gets deposited into the wallet directly, we charge a little spread on that, which allows us to obtain some revenue. So that’s one way. When you execute a swap within our future decks, that’s going to be another way. We are going to be releasing a subset of APIs within our ecosystem to be able to sell data to respective companies and startups. So that’ll be another way as well. As I mentioned, there’s some other revenue models that we’re considering that we’ll discuss in the future as well.

DAMON: All right, Julia, you have the floor as well. Open that up for you.

JULIA: All right, so my question is, how does the team handle disputes or conflicts that may arise between the users, and if we have any issues regarding the platform, how do we contact the team? Which route is the best channel?

DAMON: Yeah. So if you have any issues that you want to be able to report or any feedback in general, we recently opened up within our telegram specific topics, and there’s a support topic that’s available within Telegram. You can just reach out to our team there. I don’t think a lot of people realize this, but we currently have six community managers, all from different regions, that help support us. I’m pretty active in the Telegram itself as well. And so if you ever have any issues related towards any of our products within our ecosystem, you can certainly reach out there another way that you can reach out as well is in our discord. We have a support ticketing system and you can open up a support ticket there.

DAMON: And then lastly, if you have any issues, you can just reach out to us at via email.

JULIA: All right, so do you have a referral program?

DAMON: We currently do not have a referral program, but it’s something that we are exploring. But we currently do not have. Yeah, thanks for your question. Let’s see here. We’ll take a couple more and then we’ll end the call here. Looks like a lot of people actually have requested if anyone, let’s see someone throw up an emoji and then we’ll select them if they have any questions. All right, so Ghost, I’m going to add you as a speaker. All right, Ghost, you should have the floor. Ghost, are you there? All right, Junior, going to add you as a speaker as well.

GHOST: Hello. In terms of partnerships, what partnerships do you have in the future?

DAMON: Yeah, as I mentioned earlier, there’s a few that we’re going to be announcing here very soon. One is we have a campaign with Binance that we’re kicking off at the end of this week, and that’s going to kick off a strategic collaboration that we’re doing with them. One, in order to just provide more exposure to orange. Two, we’re going to be integrating their web three, wallet into our dapps. And then we also have some other planned collaborations as well. We’re doing something very similar with OKX in order to just deepen the relationship with them, including integrating their wallet into our dapps. We’re working with consensus and metamask on some really cool things that we’ll be announcing soon. We’ve been accepted into the Microsoft Startups hub program, which they’re helping support us from an AI perspective on a number of things. We are working with the tap protocol and track team, including Benny and his team, in order to help support tap into our wallet as well as some future collaborations. So these are just some of the examples that we’re doing to drive deeper partnerships and collaborations with very large, reputable players that we’re super excited about. We have many more that are planned on the way as well, but just to give a few examples of some, those are the ones that will happen pretty soon here. All right, let’s take one more question since we’re at the top of the hour. Junior, if you’re available, if you can unmute. Are you there, Junior? Yes.

JUNIOR: Yeah, this is for the OG bonus question. Does the rewards depends on how many orange you hold?

DAMON: Yeah. So the OG bonus is just to give clarification to people. Anyone that started their stake as of last week will obtain an OG bonus. And essentially what that means is you’ll get accumulation of some extra points because of your early loyalty. And the points system is based upon an algorithm that depends on how long you stake as well as the amount that you’ve staked as far as the OG bonus is concerned. So the amount of points that you accumulate for the OG bonus will also be dependent on the amount that you have as well. So it’s not a fixed amount, it’s really highly dependent on how many you actually stay. All right, everyone, sincerely appreciate the time here. Thank you for joining. I know we went significantly longer than what we were expecting. We had some great questions in here as well. We’re going to go through and try to pick a number of more questions to be able to answer and even include within our faqs. We actually updated our documentation to have more faqs for our wallet as well as the company overall. You can view that at docs We’re going to continue these sessions in the future, keep you updated as well as answer more questions. Look forward to a very exciting week where we have more product releases and a big collaboration together and then this is going to extend on within the next few weeks here. So super excited about our potential, the momentum and just keeping alongside bitcoin, which is obviously breaching some new all time highs. But again, thank you so much here. Super excited, really thank you all for your help and support to date and really looking forward to the journey ahead. Everyone have a great evening and day. Talk to you soon. Bye.