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AMA – 420 DAO x AMA lounge

Thursday, April 7th, 2022

About 420 DAO: The project is a revolutionary DAO that has established a dedicated community of crypto proponents, thought leaders, builders and investors. The 420 DAO ecosystem is powered by 420 token that has in-build properties such as Store of Value, Membership Value Governance value.


PART I. INTRODUCTION

@HOST: Can you kindly introduce yourself to AMA Lounge community and give us a brief overview about your team

Mr. TIEN DO: My name is Tien and I’m co-founder of a decentralized organization called 420 DAO.
I’ve been in crypto since 2016, before that I was Quant trader in Wall street banks such as BNP Paribas and Barclays. I studied Mathematics and Finance in Ecole Normale Superieure in Paris Our team has been growing from our first day, I’d prefer to call it our member base, as we are a DAO We have about 20 members and individual backers The operational team counts come of the best individual in crypto and other fields
We have @ctnguyen as our CTO, who designed the whole system. He’s expert in blockchain, multi-party computation, Bitcoin script language and much more.
We also have Vannessa who is an Oxford alumni as our Investment manager.
We have Khanh Do, a member of Vietnamese national coding team, who is a coding prodigy.
Otherwise, Colin Platt, who is founder of Unifty, public speaker in blockchain, Ethereum OG and NFT expert.
Tri Vo a professor in IPAG business school in Paris Fukuda, quant researcher in BNP.
You can have a look at our team members here: https://420da.org/team-member-420da/

 

@HOST: Wow, what a glaring background. These are big names. We started with a great first impression! You build this project with a great team. Thanks for the introduction! Let’s now speak about 420 DAO! Please tell us about 420 DAO. What is 420 DAO for?

Mr. TIEN DO: We decided to start 420 DAO instead of starting a company because DAO is the future We said let’s build a DAO and decentralize it since day 1, instead of forming a closed company So 420 DAO is a native blockchain/web3 organization, which is destined to be open to all of us 420 DAO’s mission is to build Web3 through 3 key activities: investing, building and governing.
It has a Treasury (already has some money, yoohoo), a token that anyone can require to become a member It will invest, it will build and it will organize the community to govern the DAO and the related dAPPs the website is here: 420da.org

 

@HOST:  It sure gives a lot of possibilities to users and developers!

Mr. TIEN DO: yes it does

 

@HOST:  Let’s continue to our next questions then! 420 DAO has 3 layers of value protection. Can you introduce us them?

Mr. TIEN DO: Yes, first of all, I’d like to point you to our great documentation: https://docs.420da.org/en/#what-is-420 it will answer your questions regarding what this DAO is about, how tokenomics works etc.
We organize Quizz to test knowledge of the members, and if you read the docs, you will be likely to WIN I guess you have read it or talked to someone who knows, that you know 420 DAO token has 3 layers of value protection It’s very important to the holders indeed, because our token have built-in financial defense.
3 lines of defense

  1. * Intrinsic value: Since we have a Treasury with real money in it, the tokens are backed and can never fall below this intrinsic value. Think about a Book Value in traditional stocks. Warren Buffet likes this layer a lot and only invest in companies with intrinsic value.
  2. * Floor price: the protocol protects the token holders by imposing a floor price in the auctions. So tokens cannot be bought cheaper than the floor prices !
  3. * Membership value: First-seen in crypto. It means if you are a member of 420 DAO, your tokens will have embedded membership value. The more the community grows and the more time you spend in the DAO, the more membership value accrued in your tokens

Again read it all here: https://docs.420da.org/en/#faq And don’t forget to check this out: https://whitelist.420da.org/ We are running a whitelist round for the moment. Afterwards, the public token sale will open from tomorrow

You are a bit late for the whitelist round now because the winners have been selected, but you can participate early in the first day of the public sale, so please join our group and have an eye on our website Done

 

@HOST: Very few projects are doing that much to protect their token value! Truly, congratulations for all these process!

Mr. TIEN DO: Yes we are very proud of our considerate approach to the token holders

 

@HOST: So, it is still possible to get a whitelist spot for the sale?

Mr. TIEN DO: Helas, too late But don’t worry, as I mentioned above, once the whitelist is over, the public sale will be open for everyone Please stay tuned and follow us to get the latest update and get in earlier than the mass

 

@HOST: Then we have to be ready for the public sale! 🙂

Mr. TIEN DO: yes definitely Please join our social groups to get informed: https://t.me/dao420_chat https://discord.gg/j5D7AsxuCY https://twitter.com/420DAO_ https://420dao.medium.com/

Since yesterday when the whitelist has opened, our token has launched on the Avalanche blockchain.
This is the contract address:

  • Token 420 : 0xF7dD4D8142c1fA34c64d8c22FcbBa42208cc65eb and this is the staked token contract (yes we allow staking):
  • Token S420 : 0x722C4CE1b280eeA949feE0096140852DEAef6bbd

Please note this as you might be able to buy some in the DEX if you are not a whitelist winner !!!

  • Token 420 : 0xF7dD4D8142c1fA34c64d8c22FcbBa42208cc65eb
  • Token S420 : 0x722C4CE1b280eeA949feE0096140852DEAef6bbd

 

@HOST: Be careful for the scam contracts and be sure you are using these token contracts guys!
And don’t forget, no admin will dm you first!

Mr. TIEN DO: if you are in doubt, DM our admin and you will be helped
@jackieph is great and pretty
@dunzdunz second to none Indeed. And don’t reveal your private keys to ANYONE

 

@HOST: Thank you for all these info and people, do not forget, you must join the socials of 420 DAO to be eligible for the rewards! While we are already speaking about the token sale, let’s dive into 420 DAO token! I see 420 token have key roles in your project. Can you tells us the use cases?

Mr. TIEN DO: Yes definitely Token 420 is the governance token of the DAO.
It will allow you to vote on everything related to this DAO. It also captures value from the Treasury, it means your tokens represent a claim in the Treasury’s assets.
The Treasury can trustlessly buy back your tokens and give you USD Moreover, we intend to make it also a UTILITY TOKEN By that I mean, when 420 DAO builds its own tech products, users have to hold token 420 in order to use those products For example, three products we have started bulding, which will require Token 420:

  1. A content-based channel with top-notch market views, actionable insights. It will help members of the DAO trading this volatilty and difficult markets
  2. A risk management bot which will tell you when to reduce your positions, so that you will not get liquidated !!!!
  3. A venture invesment database, for example you will know which projects are invested by which funds, which projects have high potential, etc

NOTE: all this needs 420 Token to gain access because it’s built by the DAO by and for its members Please join our social groups to get informed:

 

@HOST: Great use cases! These will definitely motivate your token holders to hold your token in long term!

Mr. TIEN DO: oh yes we aim to issue tokens during 12 years at least this is our mindset, very long term, very steady

 

@HOST: It’s awesome to hear these long term plans! I saw another great feature in 420 DAO. How does the Daily Auction works? Is Daily Auctions model exclusive for new users?

Mr. TIEN DO: Yes let me explain
First of all, everyone can participate in the daily auctions, new members or existing members alike Anyone at any moment in time can acquire tokens and become members of the DAO, or increase their tokens to have stronger voting power The protocol organizes daily auctions via our dApps.
Everyday, you can come in our dApp and bid any amount of money you like The system will issue tokens to you
=> You will become a member of our DAO and you can stake the tokens to have more tokens https://whitelist.420da.org/
The dAPP will be live JUST right after the whitelist round You will be able to contribute $USD and get Token 420 through the batch-auctions.
Don’t worry it will be user-friendly

 

@HOST: That’s good to know because there are many potential investors will be looking forward to this!

Mr. TIEN DO: Yes let’s not dive too much into the terminology, sometime very cloudy the dAPP has live tutorial to walk you through you will know which button to click
You only need to keep an eye when on it’s launched, for now keep an eye on https://whitelist.420da.org/
Also at 4:20PM on 2nd April 2022, you will be surprised note this time and this date and note the token contract – Avalanche blockchain:

  • Token 420 : 0xF7dD4D8142c1fA34c64d8c22FcbBa42208cc65eb
  • Token S420 : 0x722C4CE1b280eeA949feE0096140852DEAef6bbd

 

@HOST: Thanks for the great tips! Let’s go on! I think the APY % took the attention of everybody! APYs on 420 DAO is greatly generous. However, is your platform also safe? How do you secure your project?

Mr. TIEN DO: Absolutely the APY is generous for early supporters only It will be more and more difficult to gain more token 420 It’s like Bitcoin. In 2011 you could buy a lot, now it’s hard to earn 47k USD !! 420’s tokenomics follows the same principle, but butter so APY is generous, akin to early miners of Bitcoin in the early days, but over time it will be more and more difficult that’s the reason we will achieve Store of Value property with our Token 420 Now in terms of security: The smart contracts have been coded by coding genius – I mentioned one of our team members got International Coding Olympiad medailles Imagine his level is equivalent to a professional athele, but in smart contract coding !! We have made an in house Simulator to study security scenario and have you ever seen any team testing their code like ours here: https://docs.420da.org/en/test_doc/#testing


All this to make sure our members, users, holders are SAFU

 

@HOST: Rewarding the most the early supporters, truly community-centric project! Impressing! It seems 420 DAO place the security to the top place of this project!
Great! We are getting close to the end of this session! When do you plan to release 420 Dao App? Will it be also available on mobiles?

Mr. TIEN DO: So let’s recap:

  • https://whitelist.420da.org/ => Whitelist rounds.
    Remaining tokens from Whitelist will be made availble to anyone
  • Official dAPP release: 4:20PM 2nd April 2022
  • Token has been release on Avalanche:
    Token 420 : 0xF7dD4D8142c1fA34c64d8c22FcbBa42208cc65eb
    Token S420 : 0x722C4CE1b280eeA949feE0096140852DEAef6bbd
  • It will also be available on Mobile However for best experience and best security, we recommned using it with a dedicated computer

 

@HOST:  Great! Let’s end this session the the information of the tokenomics of 420 DAO! Can you share please?

Mr. TIEN DO: The best place to learn about it is here: https://docs.420da.org/en/#what-is-420

Tokens will follow a double-halving mechanism

Allocation is transparent. Very little to Dev&marketing purpose. Almost all tokens for holders

APY is generous at first then decreasing over time

Token hard cap at 420M coins

 

 

@HOST: ll looks great! Thank you for answering all my questions! Now we can move to the live segment where our community can ask you direct questions! Reminder, here are the socials of 420 DAO! You need to join to be eligible for the rewards during the live and quiz segments!

PART II. LIVE QUESTIONS FROM COMMUNITY

@Vo Nhat Sinh: Mr Do, please tell more about the futures trading bot? Is it be free for 420Dao members?

Mr. TIEN DO: Yes absolutely The bot will help you to avoid a regrettable liquidation scenario. It will not trade for you. It will only send you ALERTS so that you will be careful when you enter a leveraged position. We will embed some AI and high-quality signals to detect when the markets are stressed. Then if you have a leveraged position, it will tell you to watch your positions and/or deleverage it. It will not guarantee to work 100% but it will help

 

@Mr X: Most mediocre projects pitch their roadmap as something special that are destined to go to the moon, but great projects always have plan to prepare for the bear to come. Can you tell me and the audience how 420DAO is going the survive through the next bear market? What will you do to prepare for the next cycle while investors will be pessimistic about the future of market?

Mr. TIEN DO: yes Well we have started during a bear market haven’t we? Our Treasury is built with stablecoins to avoid reflexivity on the downside

 

@Pewpew11: what are the ways that 420DAO generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ?

Mr. TIEN DO: yes The DAO will invest its Treasury to generate revenue. Also it will build tech products, if we are lucky enough to have PMF it will generate revenue For example, If everyone loves our bots and market insights, they will buy our tokens, and token holders will benefit

 

@Changchi12: CAN you explain How is Your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the Team???

Mr. TIEN DO: yes Tokenomics distribution’s goal is to make sure it distributes broadly and faily during sufficiently long time horizon. 420M tokens will be minted in no less than 12 years There will not be locked tokens BUT the issuance schedule is SO SLOW that virtually no one can have too many tokens or become whale do dump on the community Similar to Bitcoin, no tokens are locked after they are mined, but issuance is slow in very long time Team and community have the same schedule

 

@moneyisho IS This Your project only for elite investors, how about others with small funds, is it open to everyone?

Mr. TIEN DO: yes open for everyone with any amount of money

 

@MAttin_bhr Due to DeFi market is having very fierce competition between platforms. How confident are you in the #420DAO project?

Mr. TIEN DO: it’s a tough markets out there for sure but we will try our best. we believe in ourselves and in the force of the community You can benefit from token price appreciation. You can benefit from Treasury having more money. Many many ways. You can benefit from being a part of a passionnate community

 

@melinda_main_ama What benefits will be provided if I invest in your platform? And are token holders on your platform entitled to participate in the governance of this project, if so in what way?

Mr. TIEN DO: You can benefit from token price appreciation. You can benefit from Treasury having more money. Many many ways. You can benefit from being a part of a passionnate community Yes you can participate in governance (it’s a gov token). We will organize Governance forum after official launch so that you can propsoe and vote on new ideas

Awesome! Thank you for all the detailed answers! Very much appreciated you tried your best! Now we are moving your last and very exciting part! QUIZ!

In this segment, 420 DAO team prepared some questions for you! After they post each question, I will give you some time to read it and then open the chat. The first one gives the correct answer, Wins! If you are ready, can you post the first question? 🙂

 

About 420 DAO

420 DAO is a decentralized autonomous organization that aims to build the right decentralized digital future. The project is a revolutionary DAO that has established a dedicated community of crypto proponents, thought leaders, builders, and investors.

The 420 DAO ecosystem is powered by 420 token that has in-build properties such as Store of Value Membership Value Governance value. To learn more about 420 DAO visit,

Website | Telegram Twitter | Discord

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