🔷 PROMETEUS NETWORK (PROM) AMA Recap🔷

We organized AMA successfully with Mr. Iva Wisher & Vladislavs Semjonovs, Founding Contributor of Prometeus Network on 6th of December, 2020 in our Telegram Group.

Crypto admin | @CryptoProfitCoach Never PM for Funds admin- Hiii all Community Members..

Crypto admin | @CryptoProfitCoach Never PM for Funds admin- Really excited for the AMA with Mr. Iva Wisher & Vladislavs Semjonovs, Founding Contributor of Prometeus Network.

Crypto admin | @CryptoProfitCoach Never PM for Funds admin- I Welcome Mr. Iva & Vladislavs, Founding Contributor of Prometeus Network–on behalf of our community I welcome you to enlighten us regarding PROMETEUS NETWORK, Secure and private data exchange and freedom of expression for anybody.

As usual, I’ll start things off with some introductory questions before then opening up to the community for Q&A. Top questions / participants will receive rewards = )

Vlad-Sure. We are always happy to share on our progress so far)

Crypto admin | @CryptoProfitCoach Never PM for Funds admin-Could you please give us your intro to community which could be life changing example of emerging talents
@imnotivan @VladislavsSem Sire please.

Vlad-My name is Vlad. I have a wide experience in business development in the pharmaceutical industry and legal background. I am active in crypto from 2016, so I know the industry quite well. So i had experience, in mining., trading, investing and in the end contributed to lauch of Prometeus in 2018 which is growing and developing for the last 2 years and which even started inbucating other projects such as prosper.finance.

Iva Wisher-Sure. I’m a founding contributor of Prometeus Network and acting COO. Previously i used to work in investment bank called VTB capital as an investment analyst. I’ve got involved in crypto in early 2017 and joined a 3commas trading terminal (first Binance Broker) as a chief analyst. After i left 3commas, me, Vlad as well as some other contributors founded a Prometeus Labs — non-profit decentralized organization which aims to develop data related solutions and stands for the basics of human rights such as freedom of speech and information freedom.

Crypto admin | @CryptoProfitCoach Never PM for Funds admin-Starting out, can you provide us with a high level description of PROMETEUS NETWORK platform ?

Vlad-Prometeus network is basically a protocol for trustless data exchange. So one can move any data through our network which connects to different decentralised storages such as filecoin, arweave, bittorrent etc.

From here we have various products build around it

Stoa — data market place

Ignite — decentralised social network

And we plan to release another 2 products (one in NFT areas and one in data storage agregation)

Plus we are also incubating other projects with a seperate brand such as prosper.finance and several others.

Crypto admin | @CryptoProfitCoach Never PM for Funds admin- Can you share some of the biggest “lessons learnt” after navigating the crypto ecosystem keeping in view of PROMETEUS NETWORK products “ignite” and “Stoa”? what are your lessons from that?

Iva Wisher-I would say that the biggest lesson for us is — “find reliable partner”. When we first launched private beta stages for Ignite and Stoa, we could not survive without reliable decentralized data storage. We’ve tried almost everything: Filecoin, Sia, BTFS (Soter), Lambda and Arweave.

Filecoin, as well as BTFS almost crushed our ecosystem in one moment, as they were not stable back in those days and their devs were not that cooperative.

Hopefully in the end we’ve discovered Arweave, which perfectly suits both our products. Their team is always ready to help, thus we are still working with them 🙂

So i would say that the name of this lesson is “Find a reliable partners”

Crypto admin | @CryptoProfitCoach Never PM for Funds admin-Could you please give a brief intro of PROMETEUS NETWORK platform’s salient features? What is Ignite ? How Ignite is better than other platforms?

Vlad-Sure. Let me dwell into it.Prometeus main features are transportation of data through blockchain in decentralised, trustless and private way.

Ignite is a basically a social media built around it. Basically it allows to save all data happening in social network on blockchain and Arweave, thus making Ignite first fully censorship resistant social media, where acess is granted only though the use of blockchain wallets such as BSC and ETH.

It main features is that it is censorship free and private.

Crypto admin | @CryptoProfitCoach Never PM for Funds admin- What is the functionality of the PROM token of PROMETEUS NETWORK? Why anybody wants to have PROM?

Vlad-PROM Token allows access to the data stored on the network and it is the only settlement instrument in the network. Network participants use token as the mean of payment. Token transaction fee is used as a reward for nodes on the network and there is a staking requirement for different nodes on the network.

The Prometeus network operates through the proof-of-stake consensus mechanism. This requires Nodes to provide an amount of PROM tokens as their stake, and they are incentivized to participate by receiving PROM block rewards, data storage rewards, and transaction fees. They may sell their revenues or keep them to increase their stake in the network. In addition, it worth to mention that PROM is also used in token swaps between integrated blockchains, decentralized data storages and other blockchain services.
For more details and reference, please check this article : https://medium.com/prometeus-network/prometeus-network-token-economy-in-detail-513c13b6f541

Each linked product inside Prometeus has their own token economics :

Stoa
Data buyers pay for access to the data stored in the network either in fiat currency(automatically converted in the PROM tokens) or in PROM tokens and they operate through a technical role DataMarts who are responsible for customer interaction, payment receipts and data delivery. Each DataMart must host a node a stake a certain amount of PROM as a security deposit.

To gain the necessary data for their clients, the DataMart has to acquire access rights through PROM token.

Data sellers operate through Data Validators. Validators who obtain the PROM payments from the DataMart then sell their tokens on the market for the fiat revenue. This revenue is used to cover their operating costs and, not to the least extent, to access the relevant and up-to-date data on the network. Validators are also required to maintain security deposits in the network for participation, and the deposit requirements partially depend on their consumer rating. For this reason, each Validator may find it convenient to keep a share of token revenue to cover their current and future deposit requirements.

Ignite

Ignite will have its own micro token economics that will involve ads, status promotion, between user payments, staking on accounts, voting, issuing mini tokens inside Ignite, rewards distribution and so for.

Crypto admin | @CryptoProfitCoach Never PM for Funds admin-Could you please enlighten us about Stoa?

Iva Wisher-Sure.Stoa is a distributed platform that allows users to buy and sell any data in a secure and decentralized way. The whole process is anonymous and does not require an identity verification. You simply need to start a node to become a buyer or seller within the System. Any user can exchange any type of data (documents, pictures, videos, etc). Data Exchange serves as a decentralized cross-horizontal hub for big data (Health Care, Finance, Public, Research, Retail, Marketing) and connects data providers from any industry to data consumers. To check out Stoa core features and the whole process of how does it work, please navigate to this page: http://prometeus.io/stoa .You can also get a beta access there

Crypto admin | @CryptoProfitCoach Never PM for Funds admin-Now focusing on the team a little bit — what are some key differentiators PROMETEUS NETWORK platform as well as PROM Project team has… that make it particularly well-equipped to accomplish your goals ?

Iva Wisher-I would say that there are no direct competitors in data exchange field for us 🙂If we are talking about team, the first thing you need to know, that Prometeus labs different development teams for each project. For example, the development team of Prosper is being lead by Vlad Lazarev, which used to be a lead developer in such projects as Harmony, Thorchain, Ankr and indepented contractor for many others.

The development team of Ignite is being lead by Max Gavriluk, serial tech entrepreneur, which has created over 30 different technical solutions during his career

The development team of Stoa is being lead by Arthur Suilin — the creator of Yandex Metric and Web Visor.

So i would say that our team has enough competences to make everything happen.

Crypto admin | @CryptoProfitCoach Never PM for Funds admin- What products/tools does PROMETEUS NETWORK currently have? What products/tools are being developed so that PROMETEUS NETWORK has a real impact on this new type of ecosystem for decentralized framework for data monetization?

Vlad-I think we have described most of them in messages above.

Stoa — data market place

Ignite — decentralised social network

Klutch — NFT platform

Exponent — decentralised token sales

Propser — prediction market

And another called Emporium — data storage agregation

I think each platform has its own way. It is to early to say about impact and field is too new. so any development is welcome.

Crypto admin | @CryptoProfitCoach Never PM for Funds admin- What strategies is PROMETEUS NETWORK using to create new ecosystem? Why you are developing it?

Iva Wisher-Our strategy is “step by step” here 🙂 I think that moving forward by small steps is a stable way of growth, which has been proven by succesful development and product release, as well as PROM token performance and liquidity. I would say that we are trying hard in order to defend the freedom of people in a rapidly growthing world

Crypto admin | @CryptoProfitCoach Never PM for Funds admin-PROM aims to achieve the “turn data into currency” vision in the future by giving Benefit to its users. How PROM will do that? Could you please enlighten us about PROM products to be launched in 2021?

Vlad-We are more focused on bringing more users and features to existing product. For new products, i named

Klutch — NFT platform

Exponent — decentralised token sales

Propser — prediction market

And another called Emporium — data storage agregation

Crypto admin | @CryptoProfitCoach Never PM for Funds admin- Alright last question before I open up to question from the Community — what are some exciting milestones PROMETEUS NETWORK has in the coming months? Any big news/announcement/Any new Exchange listings ? Any focus on (DeFi, Dapps etc.) at the moment?

Vlad-: I mean we just listed on Binance. We are usually quite conservative with listings, so it will depend on exchanges. We have a dedidcated DeFI focus. Our product prosper.finance is first cross-chain prediction market platform on BSC and other big chains.

Crypto admin | @CryptoProfitCoach Never PM for Funds admin-Great — Always exciting for PROMETEUS NETWORK in making a better world with blockchain technology. = )

I think we can open things up to community Q&A ! Reminder that top participants will receive a reward! Community members are allowed to post their questions for next 10 minutes. 10 Best Question will be picked up by PROMETEUS NETWORK GUEST to answer.. completely on his discretion. Question picked up by PROMETEUS NETWORK GUEST to answer will make Question raiser eligible to receive rewards.

Out of Range-Is staking involved? What do we earn for staking?So, what are the fees like?

Iva Wisher-It will be 🙂Can’t share more details rn, but after we will move from the beta verson of ignite, user will be able to stake their PROM to run Ignite nodes.Another special event that we will have in comming months:

  • Users will be able to stake PROM to earn PROS (Native token of Prosper.so)
    - Users will be able to stake PROM to earn EXP (Native token of Exponent)
    - Users will be able to stake PROM to earn EMP (Native token of Emporium) and more

Alisa Crypto- how “Prometeus network” is able to survive in this longer bear market? What method did you guys apply to survive?

Iva Wisher-I think that we’ve already proven that, going through bear market of 2019 and maintining the price higher than it was on ICO 🙂

I think that important thing in our success is contant development progress.

Paco Tous-Where do I get information about your team? Why do you prefer to be anonymous? Do you have a plan to identify your team later?

Vlad-We are non anymous. Please see info here https://prometeus.io/about

:dog2:🍾:-Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?

Iva Wisher-At the moment the circulation of PROM is 6,120,000. All the private sale tokens has been unlocked a long time ago, the team and advisors, as well as reserve fund is still locked. For more info please reffer here: https://medium.com/prometeus-network/prometeus-token-metrics-and-token-release-schedule-ec70c0fc33d

Nini don’t Cry-The current trend is FARMING … Can you tell me how PROM takes advantage of FARMING? What benefits does PROM get from this?

Vlad-We will) Basically we are bulding several other products with new coins. And there is idea that some of them will be farmed through PROM token. Like launchpool on Binance as example.

Uma-Any wallet you recommend to store prom?

Iva Wisher-I would recommend Binance as a trusted party 🙂 Or MetaMask supported wallets for both: ERC20 and BEP20 tokens.

Emma-Do you have any application ??? Does it will harms devices?

Iva Wisher-We actually have an Android app for Ignite, however it’s at private beta test at the moment. If you want to try, please submit your request here: https://forms.gle/HV6gBy7CRdXWzPST9

Honey Badger-What do you think is the future of digital collectibles and NFTs and how then does PROM plan to be at the forefront of this innovation?

Vlad-there are some use cases here. We are bulding our own product Klutch where people can issue and trade NFTs.

Quang-Collaboration and partnerships are one of the cornerstones to making DeFi more widespread, Can you share some of the partnerships you have formed with existing blockchain foundations recently?

Iva Wisher-we are partnered with: Binance Smart Chain, BitTorrent, Arweave, Sia and more, you can find a full list here: http://prometeus.io

Bazar- When $PROM/BTC $PROM/USDT pair coming on Binance?

Vlad-I think you can ask this in Binance official group. If they see more interest from the community and more trading volume, they will add those pairs. I think PROM is doing relatively well on Binance.

Crypto admin | @CryptoProfitCoach Never PM for Funds admin: This was a great AMA for us. Thank you for sharing your thoughts!

Thanks so much for joining us,Could you please leave a link to your community telegram/any other so users can learn more about PROM NETWORK?

Iva Wisher-Thank you for hosting us. It was a pleasure for us to be here. If you got any questions remain, please pop-up in our telegram: https://t.me/promnetwork.

Also if you are interested in Prosper, please join: https://t.me/prosperfi We will also be giving out some free $PROS tokens as a part of community contest.

Vlad-Thanks everyone for having us here. I see that it is reflected on trading volume=) Please feel to write us in case you have other questions in our community group.

Feedback and comments are always welcome 😊

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