Gate.io AMA with BOSagora-An Optimized Blockchain Platform for Integration with Everyday Life
Time: May 18th, 2023, 13:00 UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with Vicky,Senior Marketing Manager at BOSagora in the Gate.io Exchange Community.
Official Website: https://bosagora.io/en/
Twitter: https://twitter.com/BOSAGORA1
Follow BOSagora on Telegram and Twitter
Guest
Vicky — Marketing Manager at BOSagora
Q&A from Gate.io
Q1: Could you briefly introduce what BOSagora is?
Vicky: Sure.
BOSagora($BOA) was the first Korean ICO project in 2017, an optimized blockchain platform for integration with everyday life. Various benefits are provided to all Congress Network members through the platform. The BOSagora platform is a decentralized self-evolving public blockchain platform that is built on Smart Contracts and an embedded decision-making called Congress Network which follows the rule of one vote for one node. In other words, it promotes DAO, where all node administrators have equal rights to vote without the delegation of voting rights or election of a delegate. A proposal in the Congress Network, and it is approved through the voting of the Congress Network, can have an opportunity to use the ‘Commons Budget’.
To differentiate itself from other blockchain networks, BOSagora’s eco is centered on connectivity to everyday life. With the integration of the ‘Agora’ network and kiosks, K2E (Kiosk to Earn) is expected to play a major role in the Web3.0 network eco.
Q2: We have noticed that BOSagora has made several insightful announcements related to the recent meetup with THE9 company, which has drawn public attention. Would you mind sharing some of these announcements with us?
Vicky: Of course. We recently held an offline meetup with THE9 Company to discuss integrating Token biz and providing a Kiosk to Earn (K2E) model. By integrating with THE9, BOSagora expects to see widespread real-life usage due to loyalty points being issued by a vast global network of kiosks based on the BOSagora blockchain, combined with the anticipated proliferation of kiosks globally. As a result, it is projected that the use of BOA coins will increase significantly.
So, how can and why does integrating with THE9 benefit BOA coin’s trading volume?
THE9 Company, which originated the Korean kiosk (=payment terminal) and is the world’s top-ranking kiosk company, is expanding its infrastructure by partnering with various enterprises. They are the leading kiosk provider for tourist attractions, with over 300 million users in China. One of their partners in China is Disneyland Resort, and they are also the top provider of e-money cash recharge kiosks in Indonesia, installed in telecoms and supermarkets. Additionally, they are the biggest provider of kiosks for theaters in Vietnam. You can find a list of THE9’s partners as the picture.
THE9 is not stopping there; they have a long-term plan to expand their business to Southeast Asia and Europe. With their sustainable growth and unlimited value, we believe they are a suitable partner for expanding the Agora eco as well as boosting up the usage of BOA.
What makes their kiosk business so strong? In fact, they have attracted several partners with their strategic 0-fee rental service and the world’s first global comprehensive royalty point platform based on our blockchain. According to their current expansion trend, THE9 plans to install over 1 million kiosks in major cities around the world by 2029, serving approximately 1 billion THE9 royalty point users. We’re excited to see how widely used THE9’s kiosks will become worldwide. With more people owning royalty points, there will be an increasing demand for Agora.
Q3: You’ve mentioned the term K2E (Kiosk to Earn) a few times, which seems to be a new concept in the crypto space that many people may not have heard of before. Could you please explain more about what it is and how it works?
Vicky: Thank you for your interest in the K2E model. It is similar to other X2E models, where you can earn additional bonuses by contributing. However, the most significant difference is, K2E is directly linked to our daily lives. It is because you can earn royalty points by using the kiosk that nearby you, which can then be exchanged for tokens.
[1. Use kiosk to purchase products or services]
🔽
[2. Earn loyalty points directly into wallet]
🔽
[3. Use loyalty points to purchase other items or tokens listed on CEX]
🔽
[4. Swap THE9 tokens for BOA coins or other mainnet-based service tokens in DEX]
What is the role of BOA in this K2E model? BOA serves as the native coin that can be used for all transactions on the Agora mainnet. When THE9 token is issued on Agora, users can swap or bridge it through BOASwap. During this process, a small amount of gas fee is generated and paid in BOA. This relationship is similar to Ethereum and Metamask. In short, BOA plays an essential role in steps 3 and 4 above. Hopefully it helps you understand the concept better.
Q4: ‘m sure K2E will become a part of our daily lives, and we would love to try the kiosk. By the way, how many tokens based on Agora can be exchanged with THE9 tokens or BOA native coins now?
Vicky: Thanks for your great support. Before launching the Agora mainnet, we had already partnered with various daily life services who showed great interest in the blockchain industry. Some of these partners are related to online and offline P2E, while others are involved in real-asset services. We are continuously working to bring in more partners, and you can expect to see new partnerships being announced soon.
We have six Dapp partners in total:
1.) FM Investment - Issuing 100% refundable NFT
2.) FINPLUS Global - Issuing profitable NFT and FNPL token
3.) Lightning Beans - Issuing game NFT & token
4.) Purple Ocean - Issuing game NFT
5.) Pingong - Issuing boiling token
6.) THE9 Company - Issuing THE 9 token
All of the tokens above can be easily swapped, bridged, and sent with transaction fees (in BOA) applied. Additionally, NFT trading will also utilize BOA. Not only that, with the K2E model, all of the tokens on Agora are possible to apply in daily life as well. Let us demonstrate how users can incorporate their tokens into daily lives.
You can now enjoy an offline Dapp bowling service called PINGONG, which runs on the mainnet ‘Agora’. By competing remotely against teams in Thailand, you can earn PINGONG tokens by winning matches.
Meanwhile, you have a trip abroad with your family!
Upon arrival, you’ll find that a local restaurant has already installed THE9’s kiosk.
Using BOASwap (DEX) to exchange your PINGONG tokens for THE9 tokens, you can conveniently place an order at the kiosk.
Q5: Thank you for sharing updates on the business and marketing aspects of Agora’s eco. We are curious about the technical developments as well, as some of our members are interested in that area. Would you be willing to share any technical updates with us?
Vicky: Of course. Let’s take a brief overview of development achievement’s overview. BOSagora’s mainnet - ‘Agora’ was launched on January 11th of this year, and as of the date of this meetup we held, 18,856 blocks have been generated with the involvement of a total of 2,348 validators to ensure the network’s stability. The average reward stands at 13.31%, while the total amount of staked BOA is 93,920,000, which represents approximately one-third of the current circulating supply.
Not only that, we have recently completed several tools to ensure the smooth operation of the network. These include BOASwap (DEX), BOAScan (Tx explorer), AGORAscan (Block explorer), and BOASpace (NFT marketplace), all of which provide a user-friendly environment and the best experience possible.
Q6: That sounds impressive! It must have taken a lot of effort to establish such a large group of validators in such a short time. How did your team make it? I mean, could you please also share more about the process of becoming a validator on the Agora mainnet? Also, could you give us an idea of how much one can earn per year as a validator?
Vicky:
We believe that validators are essential contributors to the Agora eco, and as such, we offer them a high APR compared to other projects. As of today, the APR for validators is 47.0% in the first year. Anyone who fulfills the following conditions can become a validator.
Prerequisites:
1.) Staking at least 40,000 BOA
2.) Operate a validator node at a stable network speed (operate on a server or personal computer)
3.) Basic technical skill
In addition, we highly recommend those who are interested in earning passive income by running a node to refer to this guide:
https://medium.com/bosagora/guideline-of-validator-setup-40-000-boa-staking-7c09f119161c
The guide includes step-by-step tutorials on how to deposit your BOA, set up the CI & EI, and a simple way to set up a monitoring to check your node status.
Lastly, we would like to mention that staking on Agora is different from regular DeFi staking, and may pose challenges for those who lack technical expertise or are unable to take on the responsibility of 24/7 management. In response to this demand, our team is currently in discussions with various parties to provide pooled staking services. We will be delighted to announce this service on our official Twitter once it is launched. Please keep an eye on it.
Q7: And we will stay pending until the launching of this. Despite the market being easily affected by the environment, what makes your holders continue to stand with the BOSagora team?
Vicky: While the market can be easily influenced by various external factors, we believe that our strong community and our commitment to our vision and roadmap is what keeps our holders standing with us. We have a dedicated team that constantly strives to deliver on our promises, and we are always looking for ways to improve and evolve our platform. For instance, we partner with various Dapps and explore the best way to apply the ‘Everyday Blockchain’ in our daily lives. The K2E model is one example of this.
In addition, our transparency and open communication with the community also helps to build trust and foster a positive relationship between our team and our holders. Recently, we updated our 2023 roadmap and shared the status of all our assets with wallet addresses to maintain transparency.
