Traverse AMA Recap

Below is the AMA recap of 18 DEC 8 P.M GMT

Broly 🔺️ 🦁 I will never PM you first,

Ok everyone, welcome Banshee and Cake from Traverse Money!

Banshee,

Hey all, Glad to be here! 😊

Cake,

Hi everyone!

Broly 🔺️ 🦁 I will never PM you first,

Ok so let’s dive into the AMA

Banshee,

Lets get right into it

Broly 🔺️ 🦁 I will never PM you first,

So for the first question, what is your project exactly and can you tell us more about your vision?

Banshee,

Traverse is the first Multi-Chain Decentralized Reserve Currency protocol on Avalanche based on the VERSE token. VERSE tokens are backed by a basket of assets in the Traverse treasury, giving it an intrinsic value that it cannot fall below.

We strive to Grow Treasury and Users funds, Invest Treasury funds in DAO voted assets, Expand to multiple chains and Optimize the use of funds through bridging liquid assets through Traverse’s Multiple chains.

Broly 🔺️ 🦁 I will never PM you first,

Ok very nice, so can you tell us more about the tokenomics behind the project?

Banshee,

With regards to Tokenomics,

VERSE is an ARC20 rebase token

Our Full allocation are available on our documentation here: https://traverse.gitbook.io/traverse/tokenomics

Broly 🔺️ 🦁 I will never PM you first,
Ok great so for the next question, where are you heading in the next few years and what are the next major updates for Traverse?

Cake,
We have plenty of things we plan to achieve, Some of the notable updates we plan to roll throughout the year are:
-Expand on multiple chains
-Launch our Internal Bridge to transfer treasury funds through our chains
-Launch NFT
-Implement DAO on our platform as opposed to Snapshot.org

Here is a complete list of our roadmap for 2021–2022
https://traverse.gitbook.io/traverse/roadmap

Broly 🔺️ 🦁 I will never PM you first,
Ok nice sound great! So this is a question that many people like to ask a new project in our ecosystem. Why did you choose to build on Avalanche and how does your project benefit the entire Avalanche ecosystem?

Banshee,

Great questions,

We are a firm believers of the Avalanche Ecosystem, we have used Avalanche on a personal level before starting this project.
We believe Avalanche will continue expanding in the future & will be a hub to alot of exciting DEFI projects.
It’s also worth mentioning that Avalanche hosts one of the lowest & fastest transactions across all chains. Which makes it a suitable environment for rebase platforms like ours.

Broly 🔺️ 🦁 I will never PM you first,

Ok cool, I think most of us agree that Avalanche is where it’s at.

Broly 🔺️ 🦁 I will never PM you first,

Ok one more question and then we will open this up for the community to ask their questions

Broly 🔺️ 🦁 I will never PM you first,

What security measures are you taking to protect users funds?

Broly 🔺️ 🦁 I will never PM you first,

A very important one

Banshee,

We value security of our users quite alot.

Infact, we are aware of plenty of security issues (Rugs, Exploits) that happened in the past and continue happening with rebase tokens especially.

This is why we have verified and provided our identity to Lydia. We are also in the works of implementing multi-signature wallet with Lydia’s team & soon an influencer in Avalanche Space.

With regards to an Audit, we will be obtaining a Full audit soon after Launching. Though we are very confident of our code & that there are no security concerns related to that.

Broly 🔺️ 🦁 I will never PM you first,

Ok great let’s open up the chat

Tolga,

Rebase tokens were hype last year and most of them were stopped by project owners. Even I remember a rebase project was based on setting up formulas with different asset values. I mean combination of different assets creating a daily figure. It is hard to motivate traders, holders for larger revenues on rebase. Does team have any experience about rebase?

Banshee,

Great question,
Rebase tokens are quite hot right now, it’s actually one of the motivators of why we chose an asset backed token in the first place. One of the main incentives (if you’d say) that would motivate investors to Buy & Hold VERSE would be the High return & the utility that will be given to Holders of VERSE. This will be our own NFT drops & most importantly VERSE mirroring.

To be very brief: When we will launch on other chains we will make a snapshot & provide a portion of held VERSE tokens as reward/incentives for holders.

Heisenberg,

What are the main features that distinguish your project from existing projects?

Banshee,

As opposed to other Rebase platforms. Traverse is more than just a Reserve currency protocol; It aims to enhance the protocols use of Treasury funds through an extra Cross-chain Optimization Layer. This will be done through a unique approach of bridging Liquid assets over its multiple chains in order to provide an even more discounted bond prices, higher staking rewards & stabilizing prices when it’s doomsday

&&&&&,

Can you tell me 3 reasons why I should invest in traverse coin for my 1 year old child until the age of 18?

Cake,

  1. Traverse is quite a small Market cap at IFO & Launch. <1M
  2. We have a great Team working behind us & we are more than willing to expand
  3. Generally, crypto is the future, well developed crypto projects will last and become the norm. Our project is highly motivated by the idea of infinite growth, we see no boundaries and plan to grow further with this team and traverse as the base for everything we do in the future. If you share a similar vision, then there is your answer.

Dee Bo,
Most investors think short term…what motivations and benefits will there be for long term holders?

Banshee,

DAO
Cross-Chain (Full Launch)
Borrwing/Lending Token utility (Just like with wrapped Memo & MIM)

We plan alot of utilities for VERSE tokens rather than just an asset backed ponzi

Ferrey Anggara,

What is the most
ambitious goal of your project? What is the main vision that your project wants to achieve in the market cap market? I would appreciate it if you could share with us upcoming updates?

Cake,

We aim to surpass Olympus Dao as a start, so we will actively work until we achieve that. That hopefully can give you a general idea on what numbers we are looking for.

Arda Çatalkaya,

Are there companies supporting the project? Do you plan to make better deals to expand the project in the future?

Cake,

We are in close contact with other projects, but unfortunately we cannot disclose that as it might create false expectations if we name them. But yeah, we are generally working and communicating with other projects as expansion is a priority.

Banshee,

That’s it from us 😉

Broly 🔺️ 🦁 I will never PM you first,

Ok great! Thank you very much Banshee and Cake! That was a fantastic AMA. Thanks everyone for participating!

~END~

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