AMA Recap: CRYPTO MINERS X MORGAN DAO

Morgan is developing a decentralized reserve currency, MOS, on the BNB Chain based on the MOS model. As users have always been facing the issue of fiat declining in value due to inflation, Morgan’s goal is to create a reliable and relatively low risk reserve currency with great exposure and high utility, to preserve users’ real purchasing power that withstands the test of time. Treasury management, fund deployment and development of governance structures will all be contributing to the growth and stability of M.O.S.S. Asides from applying unique economic and game-theoretic dynamics in the market like Olympus, Morgan introduces new elements which turn the protocol into M.O.S.S model.

We hosted an AMA session with Morgan DAO on 13th June.

Mr. Ramsy was the host from Crypto Miners and Mr. Lynn and Mr. Hazel was the guests. They shared delightful knowledge and unique features of Morgan DAO.
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Segment 1️⃣: Introduction

Ramsy | Crypto Miners:
Hello everyone 👋 Welcome to the Crypto Miners AMA session With Morgan Dao
To help us learn more about the featured project of this AMA session, we are lucky to be joined By Mr Lynn

Lynn Crypto:
Hi

Thanks for having us!

Hazel Woo:
Hi guys!

Ramsy | Crypto Miners:
Hey guys 👋

Welcome here ❤️

Thanks for bringing Us MorganDao

I’m pretty sure that our Community is very much excited to learn more about MorganDao ✌️

So let’s get started if you guys are ready!!

Lynn Crypto:
Let’s go!

Hazel Woo:
Yes, we are ready!

Ramsy | Crypto Miners:
First of all Please give us a brief explanation about ‘Morgan Dao’. What popped up in your mind to create such a platform in this Space?

Hazel Woo:
MorganDAO is a decentralized reserve currency protocol built on the BNB Chain, which aims to preserve users’ purchasing power. Morgan consists of an automated treasury growth protocol with a steady flow of revenues from staking and early-stage investments that reward holders. Aside from having protocol managed treasury and protocol owned liquidity, Morgan implements multiple innovative features inspired by the DeFi space.

The team recognises that traditional DeFi will eventually come to an end. As traditional DeFi is always subject to limited traffic and single source of income, panic selling happens easily. Besides, when the treasury or the liquidity provider (LP) is not being used wisely, it causes idle funds which could be of better use.

To solve the problems mentioned above, the team decided to create our own ecosystem around MorganDAO. MorganDAO is based on the M.O.S.S model, which combines Morgan Chain, Olympus, Settlement Fee, and Seed Fund. This model is designed to create more innovative cases for $MOS, thus promoting buying pressure and increasing liquidity.

Morgan Chain — A Refer-to-Earn system to incentivize users for promoting the project.

Olympus — A decentralized reserve currency protocol for preserving users’ purchasing powers.

Settlement Fee — A form of selling tax for reducing the selling pressure and hence promoting the price stability of the reserve currency.

Seed Fund — An Invesment initiate for enhancing fund usage and increasing profit opportunity.

Morgan’s ultimate goal is to build a policy-controlled currency system, in which the behaviour of the MOS token is controlled at a high level by the DAO. This system is designed to optimise for stability and consistency in the long run with the intention that MOS can function as a global unit-of-account and medium-of-exchange currency. In the short term, the team intends to optimise the system for growth and wealth creations

Ramsy | Crypto Miners:
Thanks Guys for this awesome start about MorganDao 👌

Now let’s see our second question from this segment

Q2) So what are your main features and advantages that discern you from other Projects?

Lynn Crypto:
Morgan Chain is a profit-sharing model created by MorganDAO with the integration of Web 3.0 technology, that is based on a core principle — REFER TO EARN.

As we would like to lead the users from non-DeFi to DeFi field, we need to get more users to know about DeFi by providing education and opportunities for them to earn great passive income. In order to achieve that, we need the help from the community and that’s the reason why Morgan Chain is created. Morgan Chain rewards users for referring new users to the protocol, its power of compounding will help us to spread the message out effectively and hence achieve our goal of leading more people into the DeFi space.

If let’s say MorganDAO starts off with 1,000 holders (which is a small number by the way) and each holder refers to at least 3 people, that as already 3,000 referrals! Never underestimate the compounding effect of reffering. The compounding effect can easily multiply the traffic and sales in a matter of days, which creates a win-win situation for the users as well as the protocol. Aside from enjoying high staking rewards, users are able to earn without an upper limit by referring. Meanwhile the protocol is able to achieve deep liquidity and abundant growth in the treasury that ensure the development goes well.

If you are a social magnet, you could earn more money easily by telling your friends about MorganDAO.

WHAT ARE THE BENEFITS:
●Rewarding Commissions — Get paid for every new friend that joins
●Fair and Free — Anyone can participate
●Personalized Dashboard — Share, monitor and track your referrals all on our official website

https://docs.morgandao.money/basics/morgan-chain

Ramsy | Crypto Miners:
Cool 👍

Q3) How has the experience and background of your team been effective in the success of your project so far?

Lynn Crypto:
Our core team members are mainly from Asia and Europe, we have been involved in the cryptocurrencies related field since 2020, and have moved our preference into Decentralized Finance since last year. DeFi in its abbreviated form, enables the deployment of traditional finance products using contracts that are permissionless and trustless.

We are honoured to be given opportunities in getting involved in DeFi 1.0, DeFi 2.0 and NFT projects. These experiences would definitely help us in developing MorganDAO, from the aspects of technology, marketing and operations.

As we mentioned earlier, one of our goals is to lead people from non-DeFi to the DeFi field. We would like to get more users to expand their understanding on DeFi by educating them on the relevant topics. Currently there are many opportunities for investors in the DeFi space, especially on creating passive income. Token holders can deposit their funds (stake) into the pool to earn passive income. We are here to provide a solution for the users to enjoy high staking rewards and to earn sufficient passive income that can support the quality of life they want, even during bear markets.

We want to be the gold-standard in the DeFi space while providing an easy-to-use platform for our users to explore DeFi space seamlessly.

Ramsy | Crypto Miners:
4) Now Share us about your Native token, What are the some of utlities of $MOS Token in Your Ecosystem? And if possible share to us the Tokenomics

Hazel Woo:
MOS token is the governance token in the MorganDAO which grants token holders the authority to vote and decide on the changes of the protocol.

Contrary to the centralised banking system where decisions are made by a select few, changes to the protocol would always be voted, made and governed by the community. Please take note that during the initial stage, significant decisions are being taken by the founding team but we will be gradually working towards a DAO-governance model.

As more people participate in the decision-making process by purchasing MOS tokens, the future of the service becomes of greater interest to more people, and increasingly long duration holdings of MOS tokens are required to retain substantial decision-making authority. This dynamic can cause the price of the token to be more stable.

Being a governance token, MOS tokens would also have a profit-sharing mechanism where holders can enjoy benefits from the governance of the whole MorganDAO ecosystems

For the tokenomics, MorganDAO started with no pre-staking and the team chose not to allocate any token.

Our tokenomics are as follows:

Ramsy | Crypto Miners:
Q5) So how long did it take to develop this project? What plans do you have for the future? And what can we expect from MorganDao If possible could you please share road map with us.

Lynn Crypto:
We are in the middle of Q2 plan, which is project marketing, recruitment of influencers and whitelist offerings in the community.

Now, we have more than 20 communities which have been entrusted to create exposure and educate the masses on DeFi.

We will be conducting our IDO on 8th July and launching the protocol liquidity on 10th July. The IDO price of MOS will be $8, and the listing price will be $12/ token, we are looking to raise $300,000 for our IDO.

In 2022, we look forward to increasing more token utilities by forming partnerships in the BNB Chain ecosystem, and launching our own MorganSwap. We never forget our mission for once, which is to lead the users from non-DeFi to the DeFi field, get more users to know about DeFi and provide opportunities for them to earn great passive income.

Ramsy | Crypto Miners:
Thanks for this well detailed introduction about MorganDao:)

And that’s the wrap up of our the first part of the AMA session ✅

Let’s now proceed to our Twitter Questions section

i hope you guys are ready for that!!

Hazel Woo:
Yes we are!

Lynn Crypto:
Yeah!

Ramsy | Crypto Miners:
So let’s go 🚀

Segment 2️⃣: Twitter Questions

1) Can you please tell us about (3,3) in a nutshell and what is the use of this? How does it works? Can you also tell me how can I increase my income through it?

Hazel Woo:
(3,3) originated from a prisoner’s dilemma, which is the idea that if everyone cooperated in Morgan, it would generate the greatest gain for everyone.

The message is that, is everyone has a desire to monopolise the benefits in the capital market, they will end up hurting each other at the end of the day and no one will be benefitted. The ideal situation is everyone chooses to stake and not to sell the token for a short term. As long as someone sells it, it will cause others to sell together, which eventually causes panic selling and leads to a decline in prices. This is harming everyone’s interests.

(3,3) this concept is to encourage everyone stake. If no one or only minority sells the token, it will lead to low market liquidity. When there is demand in the market, the price will naturally rise. In addition, as the staking profit is given every 8 hours and automatically compounded, the return on investment would be something we couldn’t get in DeFi 1.0 project.

When MorganDAO achieves deep liquidity, selling portions of the tokens wouldn’t be causing big fluctuations on the price.

Ramsy | Crypto Miners:
2) I understand that Morgan Chain is a refer-to-earn mechanism. To run this mechanism can you mention what are the conditions for earning? What is the reward count like in play?

Hazel Woo:
There are two items you want to take note:

1) In order to be eligible for referral incentive, you need to make sure the referred user is binding your wallet address as the inviter on our dApp. (This needs to be done for 1 time only)

2) The referral incentive would be released to you linearly over 10 days.

Let’s say Marry spends 1000 USDT to purchase a bond and she would receive 100 MOS based on the bond price. Before she makes the purchase, she binds Peter as her inviter. Therefore, Peter will receive 10 MOS (which is 10%) as his referral incentive.

Bond Price = $10 USDT / MOS

MOS purchased
= $1000 / $10
= 100 MOS

100 MOS x 10% = 10 MOS

Ramsy | Crypto Miners:
3.Doesn’t the MOS token masquerade as a Stablecoin because it is a reserve token? Can you explain how MOS tokens are purchased? What exchanges work with this token?

Lynn Crypto:
MOS is a decentralized reserve currency but not a stablecoin. The main difference is that stablecoin is pegged while MOS is backed. Think pegged ==1 while backed >= 1.

Let say 1 USDT is pegged by 1 USD, it simply means that the intrinsic value of 1 USDT will always be 1 USD.

However, each MOS is backed by 1 USDT. The intrinsic value of 1 MOS is at least 1 USDT. As the treasury backs every MOS with at least 1 USDT, the protocol would buy back and burn MOS when it trades below 1 USDT. This action has the effect of pushing the MOS price back up to 1 USDT. MOS could always be traded above 1 USDT because there is no upper limit imposed by the protocol.

After the token is listed, you may purchase it on PancakeSwap or purchase it at a discounted price through a bond on our dApp.

IDO date: 8th July
Listing date: 10th July

Ramsy | Crypto Miners:
4.Bonding allows us to purchase MOS tokens at a reduced price after a set length of time, whilst staking allows you to earn more MOS tokens through an auto-compounding system. So,how do we go about getting it? When do you intend to release IDO?

Hazel Woo:
Both bonding and staking can be done in our dApp. When you purchase a bond, you are giving up USDT for MOS tokens at a discounted price. MOS tokens will be released to you linearly over 5 days.

When you stake your MOS, you will receive sMOS (staking MOS) at a 1:1 ratio. sMOS balance will first be in the warm up balance for 2 epochs (1 epoch is around 8 hours) where you can’t take any action. After 2 epochs, you will be able to claim your sMOS to your wallet and continue staking. Thereafter no action is needed until you want to unstake. Please note that staking profits would also be given to you during the warm up period.

After the token is listed, you may purchase it on PancakeSwap or purchase it at a discounted price through a bond on our dApp.

IDO date: 8th July
Listing date: 10th July

Ramsy | Crypto Miners:
5.I want to know more about the staking program what’s ur apy and what is the return of Staking? is it in usdt or mos token and u mentioned something about Olympus dao what does this term mean ?

Here is our last question from twitter

Lynn Crypto:
Staking profits would be distrubuted to users in sMOS (staking MOS) every epoch (around 8 hours). The starting reward yield is 2% every epoch. The reward yield will automatically be reduced as more users stake in the pool. Think of it as more people are sharing the same cake, each person will get less.

APY = (1 + Reward Yield)^(3*365)

OlympusDAO, founded in February 2021, is the first DAO that introduced decentralized reserve currency protocol based on unique economic and game-theoretic dynamics. And MorganDAO is inspired by OlympusDAO.

Ramsy | Crypto Miners:
That’s the wind up of our twitter segment

Lynn Crypto:
Yeah!

Ramsy | Crypto Miners:
Now Moving on to our last segment — Live Q&A

Shall We proceed guys?

Lynn Crypto:
of course!

Hazel Woo:
Yes 🙌

Ramsy | Crypto Miners:
lets go then

Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and Miners sent hundreds of questions. Guest choose some best to answer)

1) Alchemy x Hunter:
MorganDAO is creating MOS, a decentralised reserve currency based on the MOS paradigm, on the BNB blockchain. Why did you chose the BSC network to construct your platform and currency? What benefits does this blockchain offer you?

Lynn Crypto:
Team chose to build the platform on the BNB chain (which is formerly known as BSC) due to a couple of reasons.

First, BNB Chain has solidified its position as the third most popular DeFi ecosystem, with close to $12 billion in assets held in its most successful DeFi protocols.

Second, users can benefit from extremely high throughput, low transaction fees and fast transaction completion time. It is definitely a low-cost alternative as compared to Ethereum.

Third, as we want to lead more users from non-DeFi to DeFi field, choosing a high exposure platform with user-friendly transaction cost would give us the advantage in promoting the project.

2) Jade:
💫 MorganDAO, according to what I’ve read, has two main ways to make money: staking and bonding. Could you please elaborate on these two options?

Lynn Crypto:
Yes, the two main strategies in Morgan is bonding and staking. The easiest strategy is to stake as it allows you to earn MOS tokens passively via auto-compounding mechanism. If you’re a more aggressive investor, then you might like to take advantage of bonds, where you can get MOS tokens at a discounted price after a certain period of time.

Over here I would also like to share about the (3,3) concept, and why it matters in Morgan. (3,3) is the idea that, if everyone cooperated in Morgan, it would generate the greatest gain for everyone.

If we both stake, it is the best thing for both of us and the protocol, which sums up to a total of positive 6. When we both sell, it creates the worst outcome for both of us and the protocol, which sums up to a total of negative 6. Thus, (3,3) is the way to go.

As we mentioned earlier, staking allows you to earn MOS passively via auto-compounding. By staking your MOS with Morgan, you receive sMOS (staked MOS) in return at a 1:1 ratio. After that, your sMOS balance will increase automatically on every epoch (around 8 hours) based on the current reward yield.

Bonds allow users to buy MOS from the protocol at a discount by trading it with i) liquidity (LP tokens) or ii) other assets. The former is called liquidity bond and the latter reserve bond.

Morgan offers two types of bonds which is USDT Bond and MOS-USDT LP Bond. USDT bond is a reserve bond and MOS-USDT LP Bond is a liquidity bond. As we strive to provide an easy-to-use platform, users only need to provide USDT and the backend would form the liquidity automatically for the MOS-USDT LP bond.

3) Itz Abhi ⚡️:
Hello Lynn & Hazel

Welcome to Crypto Miners ❤️

Morgan Chain is a refer-to-earn incentive system incorporated into the protocol to reward qualified users who put in efforts for promoting the project. Kindly note that Morgan Chain is applied to bond purchase ONLY, not available for spot purchase. In the referral system, how many levels are the rewards applicable? Can you tell me how the referral system works and what rewards we get for inviting a particular user? Can you also tell me the requirements to join this referral program? I read the rewards will be vested too so Can you tell me for how many days will the rewards be vested? Can we start referring from now to earn rewards?

Thank you

Hazel Woo:
- Referral incentive is applicable to one level only, which is introducer and referred user.

Let’s say Marry binds Peter as her inviter and purchases bond, then Peter is entitled to receive 10% referral incentive from Marry’s bond purchase.

Not long after, John binds Marry as his inviter and purchased bond, then Marry is entitled to receive 10% referral incentive while Peter will not receive anything.

- When the users you referred bind you as their inviter, you will receive 10% referral incentive for every bond purchase they make.

Let’s say Marry binds Peter as her inviter and purchases 100 MOS through bond. Then Peter is entitled to receive 10 MOS as his referral incentive.

- Anyone can refer to earn.

- The referral incentive will be vested linearly over 10 days.

- Our IDO is on 8th July and listing date is on 10th July. After the token is listed, users can start to purchase bond. Therefore, you may give your wallet address to your referred users and ask them bind this address before they make any bond purchase.

4) CHUKKY:
I saw that Whitelisted participants can buy MOS in the IDO for any sum between 500 and 1000 USDT. So, when is the IDO going to be held? What is the procedure for applying for the WHITELISTING ROUND?

Hazel Woo:
Our IDO will be conducted on 8th July. Whitelisted participants can purchase any amount from 500 USDT to 1000 USDT. Interested users may join our AMA to win WL spots.

As I’m answering your question, you may contact me directly and I’ll give you a WL spot.

IDO date: 8th July
Listing date: 10th July

IDO price: $8/MOS
Listing price: $12/MOS

5) Summer:
According to your roadmap, by Q2, you have plans for DAO proposal for treasury management, fund deployment, investment, etc. Can you tell us how will DAO work at MORGAN? How can people join your DAO movement?

Hazel Woo:
Yes, we have plans for DAO proposal for treasury management, fund deployment, investment, etc.

Token holders will have the authority to vote for proposals and decide changes on the protocol. As long as users are staking and holding MOS tokens, they would be given authority to vote.

*This segment ends here*

Ramsy | Crypto Miners:
So Thankyou so much For your valuable answers and information about MorganDao,
It Was Pleasure Hosting An Ama With You

Lynn Crypto:
Thank you so much

Hazel Woo:
Thank you for having us today. ❤️

Ramsy | Crypto Miners:
We Wish all the very best for Project Morgan Dao And The Entire team behind the project ❤️🤝

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