tehMoonwalker AMA with RMPL Recap
David, Director of Communications and Marketing for RMPL, recently sat down with crypto influencer tehMoonwalkeR for an AMA (Ask Me Anything) sitdown. David dropped some insider information and also provided some great insights about the future plans of RMPL.
8/12/2020 tehMoonwalkeR AMA Recap With RMPL
tehMoonwaLkeR: lets start with a short intro tell us about urself and your role at rmpl
David: sure! Hello everyone and thanks for inviting us to this AMA with your community! My name is David, I’m from the beautiful Austria and have been a crypto enthusiast since early 2017. I’m a core team member of the RMPL project and I’m responsible for marketing and communication around RMPL
tehMoonwaLkeR: perfect! please tell us about the project what is it about what does it solve and why does crypto need it
David: $RMPL is a decentralized (ERC20) cryptocurrency with an elastic supply model.
$RMPL reaches a supply-price equilibrium with its randomized rebasing. As a result, the volatility is in the token supply, not the price. A holder’s ownership of the network always remains the same, as wallet balances are globally altered in proportion to changes in demand.
$RMPL is designed to eventually reach a stable price of $1 (+CPI inflation). For that to happen the market cap needs to be way higher than it is now. To get closer to $1, rebasing is introduced. This means, when the price is above $1.05 and a rebase happens, the total supply is increased. Every holder has now more $RMPL which, theoretically, should increase the selling pressure and drive the price closer to $1. The higher the price is, the higher is the rebase percentage. If the price is below $0.95 the supply is decreased and buying pressure should drive the price up closer to $1 again.
We also released a video which explains our project pretty good to newcomers:
You probably have heard this idea before and might ask why RMPL is needed.
Our main advantage in comparison to similar protocols is the random rebase. Because of this unpredictable element we can help protect crypto investors such as yourself and prevent manipulation by bots and whales
tehMoonwaLkeR: we had a discussion about ” randomized rebasing” today so we need to go into this topic in Depth is it truly random? is it code? is it manual? and how does it work?
tehMoonwaLkeR: it sounds similar to AMPL whats the difference?
David: yes of course.
In our current solution we are working with a script in the back end. This script is running constantly and triggers the rebase function when an “if” statement is true depending on random number generators. This is completely automated and random. Nobody can predict the timing of the rebase or take advantage of it.
We know that this is not a truly trustless solution and that’s why we are developing another contract called “rebaser.sol”.
We are moving and evolving into a fully on chain random version in the coming weeks, we’re working with a highly respected mathematician to evolve what we have started to become better and more trusted. You can find a full documentation about the contract on our github: https://github.com/rmpldefiteam/rmpl
tehMoonwaLkeR: there was also some FUD about the code, i have heard its public now?
David: Yes AMPL was one of our inspirations.
We saw obvious flaws in AMPL that’s why built RMPL and made an improved version of it.
As is said the main problem with AMPL is the manipulation around the rebase time. You can clearly see that the price fluctuates heavily around the rebase everyday because everyone (and their bots) know exactly when the next rebase is.
With randomization we can solve this problem as it is unpredictable
tehMoonwaLkeR: so i can asume “We are moving and evolving into a fully on chain random version” will be completed when? any time estimate?
tehMoonwaLkeR: whats so bad about everyone responding to rebase like a clock? and whats so good about randomization?
tehMoonwaLkeR: any other flaws on AMPL except the rebase?
David: we had LOADS of fud because our code wasn’t public. People even dedicated their time and made a medium blog and messaged RMPL members.
The reason for the late code release was we wanted to make sure we are compatible with cex listings – as the randomized rebase is complicated to implement. We wanted to release the complete source together in one go.
We also wanted to wait longer until the rebaser.sol is finished but the pressure was honestly too much.
David: ETA is early September
tehMoonwaLkeR: why is the team anonymous and will it stay this way?
tehMoonwaLkeR: (ETA is early September)
David: I heard many things from community members around AMPL. I honestly don’t really want to delve into it.. we had enough negativity the last few days and I think the crypto market is big enough for several protocols.
tehMoonwaLkeR: i agree i also dont like the tribalism we sometimes have to face
tehMoonwaLkeR: lets move on, what does the RMPL token represent, why does it have value and what can you do with it
David: Currently we plan to stay anonymous. This has several geographical, personal, and political reasons.
We also think that a decentralized project shouldn’t be tied to any faces. You can find a team section on our website where everyone is introduced: geographical, personal, and political reasons
David: I have explained the basics around RMPL above (ultimate goal $1 stablecoin…) We know that in order to really thrive we have to build an ecosystem around RMPL to drive adoption – and that’s our main long term goal. We had a team meeting recently discussing all kinds of exciting things we want to build. I can give some hints about what we are planning in the future. Keep in mind our project is only 9 days old so we are right at the beginning.
Right now we are focused on finishing the RMPL Cradle (liquidity staking) which is coming later this month. We are also going to implement some sort of ranking system as a nice little incentive for stakers.
With this the basics around RMPL are finished. But we want of course expand on this and have many plans:
– DeFi: market cap and consistent volume through anyone other than bots, whales and market speculators is how we get stability and we’re planning on doing this by working on building out an ecosystem that leverages the token and partnering with others that also can.
We have a wide network that we’re leaning on to start with our partnerships, for example, one of our co-founders is the CTO of a large point of sale software development company, we can develop a wallet to take payments in any currency and convert to RMPL on the fly for storage for when they are ready to do their end of month reconciliation – where it’s stable, and not unstable like Bitcoin or Eth.
– We also see the recent hype about yield farming (yam..). This is one field we are not only looking into but already have concrete plans for.
– As is said before, it’s rather complicated to implement RMPL into centralized exchanges because of the random rebase (we are actively working with exchange devs on this). So we started to develop our own RMPL CEX. We are able to offer lower fees (looking at you ETH) and with those fees we would feed the ecosystem and reward stakers or even execute buybacks and token burns.This also makes it easier for other exchanges to implement RMPL as we can provide some sort of blueprint.
– We are also taking the opinion of our community into account. Pretty much as soon as we launched, people demanded to bet on the timing of the rebase 😀
So we are going to implement different gamification elements around RMPL.
those are some mid to long term goals
this is hot news btw.. we didn’t even share this with our community yet.
We are working on a medium article explaining those things in detail as well – coming soon.
tehMoonwaLkeR: very impressive plans i like what i see so far, i have seen in your telegram you have build an amazing community, running one of my own i know it takes dedication and hard work! i feel its time to bring them in?
David: Our community is literally insane – in a good way. Yes bring them in!
Q1) when new exchange
David: please see above. we are actively working with exchanges.. rather sooner than later 😉
Q2) what is the timeline for developing your RMPL CEX that you mentioned?
David: We can’t give a concrete timeline yet – it’s in early development. We will share more news around this the next few days
Q3) Ampl is on a current downhill trend, how are you going to prevent the same with RMPL?
David: yes we saw that. That’s why we massively want to grow our ecosystem as mentioned above to bring real value and use
Q4) Has the back end been audited ? If that’s even a thing?
David: Our main code is currently being audited. ETA 1-2 weeks The back end not because we will soon switch to new rebaser contract
Q5) What does the token economics look like? what percentage did the team originally own?
- team 22% (vested 2% weekly)
- development 15%
- ecosystem 13%
We are also discussing to lock up a percentage of the dev and ecosystem fund
Q6) Even though it is a random rebase/debase still whales are able to manipulate the price or bots so whats the difference? Too much votality seeing on this token
David: The difference is that not all whales will notice the rebase immediately so there won’t be a huge sell-off.
Regarding volatility: we are in the very early days of the project. Fluctuations are expected and normal due to market (or hype) cycles in my opinion.
Q7) David you told you work with devs of different exchanges, can you name some?
David: Let’s say we got approached by MANY. I assume this is mainly because of our high volume on Uniswap.
Can’t name any until it’s official – but you will know most of them 😉
Q8) The downtrend (AMPL) was started by the tokeneconomics which favored early investors and whales too heavily. What does the token economics of RMPL look like?
David: We don’t really have big whales or seed investors. We had a relatively small Pre-Sale for 90-95c and most of them already sold.
Q9) Amazing to see CoinMarketCap listing, when is Coingecko?
David: We have applied and we are working on it. It’s up to coingecko.
tehMoonwaLkeR: thanks for beeing here!
David: Thanks @tehMoonwalkeR for inviting us. Thank you to all participants and for the questions. It was a pleasure! 🥳