AMA Recap: CRYPTO MINERS X RAND NETWORK

Rand is a way for groups of people to earn more money with their savings. Our mobile app, powered by our yield aggregator focuses on helping Gen Z earn extra money through direct interaction with DeFi markets on autopilot. The Rand yield aggregator (system of vaults) is in charge of producing the yield by providing liquidity to several money markets with the users' deposits. We believe that this will be the most attractive way for mainstream users to interact with DeFi markets and become liquidity providers (LPs) in a frictionless way.

We hosted an AMA session with Rand Network on 16th December at 3:30 PM UTC.

Mr. Ramsy was the host from Crypto Miners and Mr. Michael and Miss Patricia from RAND were our guests. They shared delightful knowledge and unique features of Rand Network.

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Segment 1️⃣: Introduction

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Ramsy:
Hello everyone 👋 and welcome to the Crypto Miners AMA session With RAND NETWORK

Thank you all for joining us today❣

To help us learn more about the featured project of this AMA session, we are lucky to be joined By Miss Patricia and Mr. Michael Laurens,
Welcome to our community 🤝

Michael Laurens:
Hi everyone!

Patricia:
Hey guys!

Ramsy:
hey buddies

Glad to see you here
Thanks for bringing Us RAND NETWORK❣

I'm pretty sure that our AMA participants are very much excited to learn more about RAND NETWORK, so let's get started if you're ready

Are you ready to begin ?

Michael Laurens:
We're ready!

Ramsy:
here is the first question:)

Q1) Can you give a brief explanation about 'Rand Network' .What popped up in your mind to create such a platform in This Space?

Michael Laurens:
Rand App is a user-friendly app which gamifies defi and provides an easy-access lottery for users to win big on their savings, or safely generate passive income!

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

Michael Laurens:
Rand will be a prize-linked savings mobile application where users will be able to create or join collective prize pools to earn common yield with their money. The pools will be called parties; hence the term Party-to-Earn. It features no-loss prize parties or pools, where participants get the opportunity to win prizes by playing and pooling their money.

To do so, we incorporate blockchain technology and DeFi elements to create a perfect financial tool for young adults where their money works for them on autopilot and achieving financial goals becomes affordable.
How does it work?
The Rand app offers two types of products:
Private prize parties - created between friends and family.
Public prize parties - hosted by Rand and anyone can participate.

Users participate and stake in liquidity pools intuitively and easily through the Rand crypto prize parties. Users can either join a public prize party or become the game master by creating a private prize party inviting friends and family to join and add funds to it. Once all users have deposited their funds to the party from their bank accounts or private wallets, the funds will be converted into a stablecoin cryptocurrency.

These coins will be redirected to the Rand Vault, where they will be redistributed to the current best yield strategy in the market. When the predetermined party period concludes, the coins that were initially pooled will be returned to the prize party along with the interests accrued. The interest will then be distributed to a randomly picked prize pool winner.

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

Michael Laurens:
Rand Network is still in the early days where we’re still on the planning stage of success. The team is composed of people with a vast background in tech and marketing in crypto.

We also have some amazing partnerships like the Acala team for example

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

Michael Laurens:
RAND token and tokenomics is still under development so we will be dropping a full breakdown in our Telegram group soon!

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

Michael Laurens:
We have been working on getting more partnerships and investors for a strong launch next year..

We have been keeping this a secret but we will be launching a BETA version of the app on test net on Telegram very soon! https://docsend.com/view/246yvt2myyujf9fi

Ramsy:
Thanks for that well detailed introduction about RAND NETWORK:)
That's the wrap up of our the first part of the AMA session ✅

Let’s now proceed to the Twitter Questions section, if you're ready!

Michael Laurens:
We’re ready!

Segment 2️⃣: Twitter Questions

Ramsy:
1) What are the advantages of the RAND Platform? Is this beginner’s friendly interface?

Michael Laurens:
we position Rand as the frictionless way to join DeFi. Our focus is to bring a product fully backed by cripto that everybody, no matter the knowledge in blockchain, can use.

Ramsy:
2) How do you promote your project to those non-English countries? Do you already have local communities that will support your users to understand your project?

Michael Laurens:
Working with the existing community a lot for growth and additional reach, as well as working with a strong marketing and influencers team to build the trust we need for the new users in specific communities

Ramsy:
3) How will you assure the security of your project? What are the safety features of your RAND?

Michael Laurens:
We will be doing several security audits with some of the most well known Auditors in the space :)

Ramsy:
4) What is your Tokenomics Distribution? How many tokens will be minted and locked up by the users?

Michael Laurens:
The token is an integral part of our platforms backend architecture, we will be launching next year however I will have to hold off on specifics regarding the tokenomics until we have finalised the minting of the tokens

Ramsy:
5) What is the progress of this project so far and what are some of your partnerships

Michael Laurens:
we are launching the first functional MVP very soon! We will be announcing partnerships with several Polkadot based projects as well as with Criptan (Criptobank that will allow Rand users to deposit funds in FIAT in Europe)

Ramsy:
Thanks for Your Valuable Answers❣
And that's the end of our twitter question segment

Moving on to our last segment - Live Q&A. If you are ready

Michael Laurens:
Ready!

Ramsy:
Let’s go,

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

1)What does Rand Yield Aggregator mean? What is it in layman’s terms?

Michael Laurens:
Rand works as a liquidity provider by lending users deposits to third parties, who then return those funds with interest. Through this automated process between DeFi money markets pretty much how banks lend our fiat money to companies and incentives us in return.

2) Why do you name this project RAND NETWORK and what does it mean?

Michael Laurens:
Rand comes from Random. As you can see on the public parties we have a lot of Random components

3) What are the priorities of the team in this early stage? How do you ensure these priorities will run smoothly?

Michael Laurens:
The fact that Gen Z can lock up money and win big money (big prizes) in a sustained way. We are launching a prize savings platform that will be very useful for Gen Z economies

4) Can you give at least unique features of your project? What are the advantages of those
features?

Michael Laurens:
We bring gamification, prizes and community in one single place. With a very intuitive UI and UX to allow crypto and non-crypto users use it

5) What are your future plans? Do you have upcoming events in the next few weeks or months?

Michael Laurens:
We will launch the first functional MVP very soon, the V1 and of the final product on Q1 2022 and the token launch on Q2 2022

*This segment ends here*

Ramsy:
Thankyou so much For your valuable answers and information about RAND NETWORK,
It Was Pleasure Hosting An Ama With You.

Is there anything else you would like to share or you want us to know ?

Michael Laurens:
Yes! Let me drop our links :)

Its been a pleasure thanks everyone!

Ramsy:
yaah please 💓

Patricia NEVER PM FIRST:
Thanks guys!!!

See you in our community!🤝

Ramsy:
its our pleasure
Best of luck for the future 🚀🚀

If you want to learn more about RAND NETWORK, herr are some important links for you;

Website: https://www.rand.network/

Docs: https://rand-network.gitbook.io/rand-network/home/master

Twitter: https://twitter.com/RandNetwork

Medium: Rand Network

LinkedIn: https://www.linkedin.com/company/rand-network/

Telegram: https://t.me/randnetwork

Discord: https://discord.gg/wfepPFVFDX