RECAP AMA ID Crypto X Sögur

RECAP AMA IDCRYPTO X Sögur

Speaker :

  1. Ido Sadeh Man – Founder Of Sögur
  2. Keren Orian Nadel – Managing Director @Keorian
  3. Ron Sabo – Head of Product @Rsrs99
  4. Ehud Segal – Researcher @EhudSegal
  5. Yair Hadar – Marketing Manager @Obeeones

Date : Tuesday, Nov, 4th 2020

3 SESSION FOR AMA

  1. PROJECT INTRODUCTION
  2. FORWARD BEST QUESTION
  3. FREE ASKING

IDCRYPTO:
Hello everyone, welcome to AMA ID Crypto with Sögur
Tonight we have a distinguished guest, Ido Sadeh Man | @idnisa (Founder Of Sögur)
who will explain the AMA theme and answer some of your questions.

hello @idnisa
welcome to our community, we are glad to be with you here.

And welcome to our community all team from Sögur
Keren Orian Nadel – Managing Director @Keorian
Ron Sabo – Head of Product @Rsrs99
Ehud Segal – Researcher @EhudSegal
Yair Hadar – Marketing Manager @Obeeones

nice to meet you all ??

Yair Hadar:
Hey everyone, happy to be here

Ido Sadeh Man:
Hello to the ID Crypto community. It is a pleasure to be here with you

IDCRYPTO:
We have 3 sessions of the AMA, where each of your sessions will have questions to answer, and when you are done explaining, please say “done”
Are you ready sir ? @idnisa

Ido Sadeh Man:
Thank you for having us. We are looking forward to answering your questions
We were born ready ?, bring it on!

IDCRYPTO:
haha cool
But before we start the first session, can you please introduce yourself and your background to us first?
@idnisa

Ido Sadeh Man:
with pleasure.
Hi everybody. I’m Ido Sadeh Man, Founder & Chairman of the Board of Sögur.
I’ve spent the last decade leading product and technology organisations, including Odysii (sold to Gilbarco Veeder-Root, NYSE: FTV), and at Mobli where I was COO.

Yair Hadar:
I am Yair, Sögur’s marketing manager

Ido Sadeh Man:
I’ll let the team breifly introduce themselves

Ehud Segal:
Hi all, I’m Ehud Segal a researcher from the govenance team.

Ron Sabo:
Hey all,
My name is Ron Sabo and I am Sögor’s Chief Scientist and head of product. In my background I have a PhD in experimental Quantum Physics and an MBA and I have spent a few years in the algo-trading market before joining Sögur 3 years ago.

Keren Orian Nadel:
Hi, My name is Keren, and I’m Sögur, Managing Director. I have over 15 years’ worth of experience in strategy, product, marketing, operations, and P&L management. I’ve held global senior management positions in both corporate environments as well as startups. I hold a BA in Political Science and an MA in Public Policy.

IDCRYPTO:
Very happy to know you all,
I hope this can be a motivation for us.
okay can we start to the first session ?

Keren Orian Nadel:
Sure.
We are ready ?

IDCRYPTO:
Okay let’s start to the first session.

SESSION 1 PROJECT INTRODUCTION

IDCRYPTO:
Q1. Can you introduce us, what is Sogur? please explain in simple terms.
@idnisa

Ido Sadeh Man:
Sögur is designed to be a more mature global crypto token and a leader in the cryptosphere

It has four building blocks

  1. SGR’s price is determined by its market cap.
    The smart contract offers to buy and sell SGR in line with a fixed price-market cap curve.
    So the smart contract sets SGR’s price and controls for volatility.
    The curve is designed to realistically reflect trust in the token

For example, The minimal SGR price set by the curve is 1 SDR (about 1.4 USD).
At a market cap of 10M 1 SGR = 1.2 SDR (about 1.7 USD);
at a market cap of 100M 1 SGR = 2 SDR (about 2.8 USD), and the price continues to rise as the market cap grows.

  1. Transparent smart reserve
    Money used to buy SGR goes into a reserve held in reputable banks.
    The reserve fully backs any SGR sold back to the smart contract along the price curve.
    The reserve sets a minimal price of 1 SGR = 1 SDR (currently about 1.4 USD)
  2. Truly global hedging
    SGR is based on SDR, a basket of the 5 most traded fiat currencies used by central banks to hedge against single currency volatility. It includes: USD, Euro, CNY, JPY and GBP.
    With the volatility we are witnessing today in the Fiat market – we beleive this is a strong value proposition
  3. Owned by holders; managed by professionals
    Holders have sovereign decision-making abilities via purpose-built on-chain governance. This includes the right to elect the executive team that manages Sogur.

IDCRYPTO:
The first answer that strikes me ?
Glad to hear your explanation.
Q2. What benefits can we get if we have SGR tokens?

Keren Orian Nadel:
SGR offers several strong benefits:
It balances stability with volatility
It is built to incentivize early adoption
It implements blockchain reliability where most effective.
It offers true global hedging, It has a transparent and smart reassuring reserve, It is owned by holders and managed by professionals

IDCRYPTO:
Q3. What does Sögur do in maintaining balance and price volatility?

Ido Sadeh Man:
I’ve described that in brief above. Now i’ll go a bit into the mechanics
SGR is backed by a smart reserve and it starts as a stable coin.
The supply of money is determined by the market: When you buy SGR from the smart contract – it is created. When you sell SGR to the contract it is burnt.
The money you pay to buy SGR goes into the reserve
The price of SGR is determined by a bonding curve protocol:
The initial and current price is 1 SDR (currently 1.41)
If the economy grows – more buyers than sellers – the price set by the contract increases slowly.
If the economy shrinks – more sellers than buyer – the price will decrease up to a minimum price of 1 SDR.
Here is a graph of the bonding curve: It shows How SDR’s price increases as the market grows. It also shows that SGR has a minimum price of 1 SDR.
The reserve is held in reputable banks. The reserve is designed to redeem any SGR sold back to the smart contract along the price curve. This allows for a variable reserve and sets a minimal price of 1 SGR = 1 SDR.
So the smart reserve allows for a minimum price, relieving concerns that your investment will dissipate while allowing for the price of SGR to increase.

IDCRYPTO:
Q4. Can you explain what sogur plans are for the future?

Ehud Segal:
II’ll take this one.
We are seeing several attempts to create a real global currency, which is not managed by any single state.
However – we are yet to see this mission accomplished – this is Sögur’s mission – To create a truly global currency.

At Sögur, we have developed a governance framework, by which the institutions are elected by the currency holders. For example, 2 months ago, we introduced a change to the monetary model – and this change was voted upon and approved by the holders.

IDCRYPTO:
Thanks for your answer
You are very excited in the first session, let’s move on to the second session which is the question that has been selected from twitter,

SESSION 2 FORWARD BEST QUESTION

IDCRYPTO:
Q1. From @CryptoMatvey
The main difference between fiat money and cryptocurrency is trust. Everyone understands that the dollar is the world currency and its use is beyond doubt. My question is, how do you establish trust between people for mass adoption and use of SGR?

Ron Sabo:
We believe that these are crucial elements in establishing trust.

About the dollar, I believe that doubts about its stability are reaching new highs and that SGR solves this by being based on a basket of leading currencies.

IDCRYPTO:
Q2. From @satoshin_1996
Sögur smart contracts offer all the time to sell new SGR tokens or buy back and burn existing tokens at prices that reflect Sögur’s economic strength. Will all of these things be done automatically or manually?

Ido Sadeh Man:
Everything is done automatically by the smart contract!
One of the main premises of Sögur is that our monetary model is enforced on-chain ensuring the decentralized control over the supply of money.
The current market price which is needed in order to complete the transaction is verified using Chainlink’s decentralised network of oracles.

IDCRYPTO:
Q3. From @BahanNjajal
Sögur is an improvement over the previous SAGA, so can you explain what something important changes are?

Yair Hadar:
Sögur is an evolution of Saga in two main aspects: Monetary and governance.
While Saga’s monetary model leaned heavily on stability Sogur’s monetary model allows appreciation of SGR.
This presents a much stronger incentive to early adopters to take part in the Sögur Economy.
On the Governance front –
Sögur is an acceleration of building Saga’s governance framework which is designed to allow currency holders to fully control over the project
.

For example, the changes to the monetary model have been voted for by SGR and SGN holders.
In addition, 10 more governance functions have been turned into holders’ hands. Currently, there is an ongoing vote with regard to our choice of liquidity providers – this will be decided by SGR holders.

IDCRYPTO:
Q4. From @YadiSuhendra5
Several projects launched a staking ecosystem so investors can get passive income from staking, so will $Sogur launch the Staking Ecosystem on the @SogurCurrency platform in the future?

Keren Orian Nadel:
No Sögur is more like a global central bank owned by currency holders.
However , Sögur is an ERC-20 token and has much DeFI potential.

For example, it already has its SGR-DAI liquidity pool in Uniswap. So we are working to have more in this direction.
In addition, Celsius Network offers 13.86% APY payable in CEL, or 10.51% APY payable in SGR which certainly has its advantages.

IDCRYPTO:
you have your own idea, that’s very interesting. ?

Q5. From @nhi35022657
Q. Security, scalability and data security are three very important aspects, how does Sogur handle these issues?

Ido Sadeh Man:
We are doing tremendous efforts to make the project as secure as possible.
As part of these efforts, we have conducted 3 different security audits and a mathematical audit that reviewed our monetary mode.
Last week we starters a hackathon on Gitcoin that includes a bug bounty with prizes of up to 50K USD.

IDCRYPTO:
is the bug bounty still running until now sir?

Ido Sadeh Man:
Yes, It is untill the end of November

IDCRYPTO:
Wow sounds good, it can increase security

Ido Sadeh Man:
Definitely. We love keeping the community envolved – for finding bugs and vulnarabilities but also for messaging bounties and possibilities to develop new applications with Sogur.

IDCRYPTO:
Okay let’s move on to the third session, in this session I will open the chat and all participants are free to ask, but you only need to answer the 5 best questions in your opinion.
are you ready sir? @idnisa

Ido Sadeh Man:
Looking forward to the community’s questions

SESSION 3 FREE ASKING

i thingking about me:
Is the Sogur Project a project called an “Interest” Loan and what is the interest cost in% of it?

Ido Sadeh Man:
Sogur itself is not a ‘staking project’, but an issuer of a global currency.
The interest gathered on the reserve, are kept in reserve – which means they are reflected in the token price.
Moreover, Sogur is partnered with Celsius – allowing an APY of up to 13.8% for depositing SGR with Celsius.

Bima surya????:
if we have $ SGR can we exchange it with any trade .. can you explain?

Yair Hadar:
Off course! $SGR can be traded on several exchanges: Bithumb Global, Liquid Global, Exmo, etoroX. You can also trade it on Uniswap. And you can also deposit you $SGR on Celsius Network and receive up to 13.86% annual interest

Jesus Freites:
Q: Sogur is in a new structuring phase for its new governance model. In this new phase, what benefits will the $SGR token bring me in terms of my rights within the platform? How can I, as a common user, contribute my ideas about this new stage?

Keren Orian Nadel:
We are excited to share that Sögur has launched its new voting app.
This is the next stage in our commitment to making SGR currency truly democratic, using the power of digital technology.

The app functions as a destination for currency holders voting on proposals, and the platform for the community to submit their proposals for consideration.

For more on this new phase of governance, read our new blog, and visit our website for the guidelines on submitting your proposal.
https://www.sogur.com/blog/blogPost/X4QBrhEAACIAn_RU/

https://www.sogur.com/blog/blogPost/X4P6ZBEAACIAn9IB/

Next week we are launching our third vote where you can decide which USD stablecoin we will use in a portion of our reserve – make sure to visit our voting app for more information.

Muhammad Novreysa:
Most of the investors just focus on the price of the TOKEN in the short term instead of the real value of the project. Can you tell us the motivation and benefits for investors to hold the token for long term?

Ido Sadeh Man:
The quality of SGR as a hybrid between stablecoin and volatile crypto asset, makes it perfectly designed for the long term:

When the economy is still small, it is fully back by reserve – therefore serves as a stable coin. however, as the economy grows, the bonding curve protocol is responsible for the appriciation of the price of SGR.

Therefore – Whoever buys SGR now, buys it at the ‘floor price’ – the price the smart contract will always be willing to buy back at. But as the community grows, the token can appriciate.

Furthermore – with today’s instability in fiat currencies, holding SGR allows to divesify and hedge globaly – as the reserve is kept in a basket of 5 currencies instead of a single one.

FälTû:
Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?

Keren Orian Nadel:
This is great question

We have several parameters

first we have a performance page where you can see our daily attestations on the reserve

Yair Hadar:
https://www.sogur.com/performance/

Keren Orian Nadel:
the reserve os held by commercial regulated banks

we haven’t done an ICO, we’ve raised funds through accredited investors and prominent VC’s, such as Mangrove, Lightspeed and Vertex

We worked 3 years on developing the full framework of the project without asking funds from the community

IDCRYPTO:
perfect ??? i hope our community understand for your explain

I think 5 questions have been answered.
thanks you for your answer ?
Do you have anything to say to us.
We are very happy to hear all of your answers
@ObeeOnes @idnisa

Yair Hadar:
Thank you everyone, it was a pleasere to be here

Ido Sadeh Man:
Thank you for having us, it was a pleasure answering you thoughtful questions.

Ron Sabo:
Thank you all for having us for this great AMA. Real pleasure.

Ehud Segal:
Thank you very much for you interesting questions. Looking forward for more questions and interactions in our telegram community.

Keren Orian Nadel:
Thank you for all your questions, looking forward to see you joining the Evolution of MONEY!

Ido Sadeh Man:
We are looking forward to answer more questions on our telegram group, and invite you to participate in the Sogur GitCoin Hackaton.

IDCRYPTO:
let’s end this AMA sir ?

Well…
We declare AMA’s Series IDCrypto with Tokocrypto is Done. ????

Thanks to mr. ido sadeh
who gave us the time to share this knowledge, I hope we will understand more about Sögur

Thank you to the participants who have attended this event to the end.
the winners will be announced soon???

DON’T FORGET TO
?Join Group @SogurSGR
?Join Channel @SogurSGR_ANN
?Join Channel @Idcryptochannel

MORE INFO ABOUR SOGUR
Website: https://www.sogur.com/
Github: https://github.com/SogurCurrency
Telegram ANN: https://t.me/SogurSGR_ANN
Telegram Chat: https://t.me/SogurSGR
Twitter: https://twitter.com/sogurcurrency
Youtube: http://www.youtube.com/c/SögurCurrency
Medium: https://medium.com/sogurcurrency
Whitepaper: https://bit.ly/2ZnR2SJ