Did you miss the heat at our Fireside Chat? Or do you want to dive into those insights again? The Recap below is for you.
- Project: Aura Network
- Date & Time: 3:00pm (UTC+7), Sep 15, 2022
- Host: Vincent from Baryon Network
- Guest: Long Nguyen from Aura Network
- Venue: https://t.me/baryonnetwork
Fireside Chat Agenda
📝 Section 1: Warm-up | The project Introduction
📝 Section 2: Open-Ended Questions
📝 Section 3: Live Questions from Community (100 AURA for each question)
📝 Section 4: Quiz time (50 AURA for each winner).
Section 1: Warm-up | The project Introduction
1. Could you tell us about Aura Network and its ecosystem products?
Aura is an ecosystem that focuses on bringing NFT and web3 to mass adoption. We can see a lot of NFT projects/ marketplace/ games at the moment, but it is not usual to see a whole ecosystem dedicated to serving NFT adoption. Look at Flow, they are one of the very first that really bring NFT to brands and big IPs in the US. We kind of having the same thinking in the beginning. Hence, the Aura Network project was born.
It’s an ecosystem that helps brands, Web2 companies, artists, mainstream users, etc. to bring NFT to their portfolio is much needed.
Some of the products we are building: are the block explorer, the multi-signature tools, marketplace, etc. They are the foundation for a strong ecosystem. We are independent and will thrive to mass adoption of NFT.
2. What is the vision and goal that Aura Network is aiming for?
We are at the bear market, nobody knows when it will end. Though if you are here probably you are among those people who believe in blockchain and crypto (NFT too). We are simply building a strong foundation for an NFT ecosystem. Better tooling for developers, comprehensive documents for students to start developing Dapps, and one-click tools for artists to publish their art.
But what we truly want ... is to be fully prepared for the next bull run. We need to be ready so that when new use cases are adopted, we can be the first ones to support it to bring it to the world.
The goal of Aura is to connect and bring more traditional/mainstream users to Web3. We also help them to understand the true goal of NFT rather than just flipping monkeys.
3. Could you point out the highlights that make Aura Network different from other projects in the market?
What Aura is currently building is purely high-quality, enterprise-grade software. We focus on the stability, security, and scalability of the platform rather than try to innovate too much on the protocol stack. A bit more detail:
- We build things that normally other projects don't want to touch or just want to rely on open source. We don't think it is up to our quality standard.
- I know it is difficult to see, but if you look at some of our Twitter news recently, you will see a lot of OG from the Cosmos ecosystem praise us on what we are doing (fully open source btw), eventually, it will be easier for developers to build on Aura and learn.
- Finally, we also help brands and big IPs to think about how to transform their portfolios to Web3. That takes a LOT of work and resources.
Section 2: Open-Ended Questions
1. It is much more effective to launch the project in a bull market than it is now, so what difficulties did your project face, and how did you overcome them?
It is much easier to raise money in a bull market. But it is much better to launch our project at this time.
The only thing that we have problems with is raising money in the beginning. Hundreds of pitches, to the point we kind of fed up with it. But eventually, we got enough capital to start it. But to build, that's a different thing:
- We don't have any pressure on market making, selling pressure, or over-hype promises.
- We don't have to compete on talents with other projects (well a lot of them die already).
- We can truly show people that we are legit and thrive, just look at our Github, there are 40 people committing code daily to it.
But it is not recommended if you don't have a really strong team and can deliver. You got no money to feed them then. We are lucky to have good partners who trusted us in the very beginning, even with a really really bad market.
2. It is known that Aura Network was created using the Cosmos SDK. Why do you choose to use this framework to develop your ecosystem instead of others like Ethereum?
So the original plan was to make something from the ground. Building a layer 2 on top of Ethereum is just out of the question. When we make something from the ground ( a layer-1), there are many more things we can do to innovate rather than just have to think of a hacky way to deal with Ethereum limitations.
For Cosmos, we actually evaluate several protocols: Polkadot, Avalanche, Cosmos. Each has its own strength. But Cosmos really stand out:
- Cosmos doesn't require us to do anything, we can pretty much change whatever we want in the protocol.
- Our chain is automatically compatible with a lot of other big chains (ATOM, Osmosis, Terra (at that time), DYDX (coming up), etc.
- If you look at the top 100 chains, you will find a lot of chains has been built with Cosmos SDK (even BNB and Polygon - they just are not in the Cosmos ecosystem)
So that's how we end up with Cosmos!
3. Can you clarify more about the difference between Aura token and Aura coin? Is there any way to earn more passive income from holding them in the long term?
Probably you can just read the white paper, there's an entire section for it. But in short, the Aura token on BSC is a version we can later swap for native coins, that's it. We haven't got our mainnet running yet, but we still want people to build our community, so an early token is good!
Passive income is ok, we don't do anything too crazy, inflation is kind of high in the first few years, but then staking farming, borrowing/lending, these kinds of the usual stuff.
Anyway, the main revenue of the ecosystem depends on whether we can successfully bootstrap more brands/ IPs onto it. Let's see.
And we are having a staking and farming campaign on Baryon. They helped us with everything, so we can just focus on building the mainnet. Good people!
(Baryon Farm: https://www.baryon.network/stake
Baryon Stake: https://www.baryon.network/farm)
4. Aura Network is currently running The Harmony Game, and just finished the first game for the community, Aura Scan. I wonder if you can reveal a bit about the next activity in The Harmony Game?
Ah yes, that one is an extremely headache thing to design, but it's worth it.
We want something more than just an incentivized testnet or just a simple usual crypto campaign. And it has to have Aura Network flavor. So Harmony Game is actually a multipart game, where players can get the experience of everything we are building.
If you are a validator, a token buyer, or a developer, KOL, you got your own game. We try to make sure you get some exciting things like daily leaderboards, matchmaking, and some weird stuff that you have to do.
The next one is on our multisig tool. But beware, the rule is kind of very difficult kkkkk.
Also, apart from prizes which are Aura tokens, you can have some special things as surprises as well! I won't tell you what those surprises are!
5. As far as I know, soon AURA will launch mainnet - Xstaxy. Will the AURA platform be complete at that time (specifically dApps) or did you follow the roadmap to gradually launch dApps? If launching each dApps, what is the roadmap?
So mainnet is just the very first step. The tools you experience in the Harmony game is the one we are ready to launch.
One thing that I learned in doing software development for a decade is that every software project misses its deadline. But we are trying very hard! So the next one to launch after this foundation tooling is our marketplace, it will come in about 1-2 weeks after mainnet launch.
As you know, you should have the mainnet to be stable a bit before launching something on it. Then you will find more things for developers coming from then until the end of the year.
I haven't made any plans for 2023, but gaming, NFT, usual DEFI stuff, and porting some big brand IP to Aura are on the next year's roadmap.
Section 3: Live Questions from Community
1. What is the revenue model? How can it be beneficial for both investors and for the project itself? (from @dottycorrea86)
This seems fun. The revenue model of a platform is quite simple, you make a lot of money by having more transactions or investing in projects in your ecosystem. To be beneficial for both, we focus more on building use cases with real-life use cases to bring in mainstream users and capital from brands/ IP.
2. Projects that are not traded on major exchanges remain unnoticed. What do you think about listing $AURA on the leading exchanges? (from @meisdoraisme)
Listing is good of course, but leading exchanges either need you to prove yourself and build a good community first. Else they will charge an outrageous amount of money. We don't want it.
So building up the community organically until we have a few games, dapps and become a good ecosystem will be more the focus at the moment.
3. What is your strongest advantage that you think will make your team lead the market? (from @FeLix_com)
I think leading the market is a difficult thing, but we'll try our best. But generally, our strongest advantages are our team are very experienced in software development and we do have a lot of good engineers. We take security and scalability more seriously. Else it's too difficult to say.
4. How did you come up with the m name ‘AuraNetwork’? (from @Dixie_bravo_1998)
We had an internal naming competition. I remember in the final there was "Crescent", "Aura", "Soil" and something else, but Aura is probably the most attractive out of everything. It was beautiful and fun, nobody used it yet. Aura gives a good Cosmos project name as well.
5. How are you planning to raise a community? Because I see that all regional communities are not cohesive. I don't feel unity. It's not negative, I have loved Aura since I passed the first testnet. But I don't like what is happening now - Russian chat in tg for example is dead. And the problem is not the number of members. A lot of problems are here. (from @iphoneunlock9)
You see, we don't do marketing or work on the market making that much. People might also be kind of afraid that we are a team from Vietnam and may not be very friendly to foreigners. I think it's fine. We'll keep just building things and approach both the Cosmos ecosystem and the NFT ecosystem. Developers know us and will make good apps. But truthfully to you, if you know how we can improve, just tell me and we can work together on it.
Section 4: Quiz time
Aura Network is a layer-1, NFT-centric blockchain that focuses on expanding the use of _______ across various industries.
- digital money
What crypto wallets does Aura Network currently support?
- Coin98, Metamask
- Coin98, Trust Wallet
- Coin98, Keplr
- Coin98. SafepaL
Currently, you can earn passive income with AURA from which pool at Baryon Farm?
- AURA-BNB LP
- AURA-USDT LP
- AURA-USDC LP
- AURA-BUSD LP
Which is the name of one of Aura Network's Testnets?
How many validators have been selected to join the 'Euphoria' Staging Network?
- 50 validators
- 55 validators
- 60 validators
- 65 validators
When was $AURA officially listed on Baryon Network
- 26th July
- 27th July
- 28th July
- 29th July
What is the total prize of the Extended Aura Staking Pool at Baryon Stake?
- 750,000 AURA
- 250,000 AURA
- 500,000 AURA
- 350,000 AURA
Users buy offline concert tickets and get NFT airdrops which are exclusive moments of their favorite artists in the concert without going through complicated processes with __________.
- Aura Hub
- Aura Playground
What is the name of the first game in the Community Campaign of The Harmony Game?
- Aura Wonder
- Aura Scan
- Master of Validators
- Master of Harmony
Which one is NOT a product of Aura Network?
- Aura Scan
- Pyxis Safe
- NFT Scan
- NFT Box
👉5 best questions: @dottycorrea86 ; @meisdoraisme ; @FeLix_com ; @Dixie_bravo_1998 ; @iphoneunlock9
👉10 Quiz Time winners @Renz1111 ; @luckydraw66 ; @doithay1617 ; @luckydraw66 ; @nguyenben ; @hongkongbio ; @ultimateowner56 ; @Truongkhanh ; @ramaupin ; @VIL19173
👉5 Lucky Winner on Twitter: @phudvfpt ; @Y3Region ; @alexsaputra411 ; @WilliamKante44 ; @AdalynDubois
About Aura Network
Aura Network is a layer-1 blockchain with a more refined NFT experience, multichain capability, and a comprehensive DApp ecosystem. Aura Network builds the Internet of NFTs and integrates them into the Metaverse.