AMA Recap: Genki
Time: 2PM UTC | Apr 20th
Project name: Genki
Host: Otis from Blockchain Army
Guest speakers: @Jeff_taiwan | CEO of Genki
- Segment 1: Introduction
- Segment 2: Twitter’s questions
- Segment 3: Live Q&A
Otis: We will start this AMA session with the representative of a great name Genki in a few minutes. Hope everyone will take a moment to monitor and evaluate the investment opportunity. You must follow the following channels in order to participate in AMA:
🔸 Retweet, comment your question & tag 3 friends on This Tweet
🔸 Follow Genki | Barmy Twitter
Let me introduce our guest today: @Jeff_taiwan from Genki. Are you excited today? 😊
@Jeff_taiwan: Hello everyone!!
Otis: Before we start, I will tell you the rules of today’s AMA. We will have a total of 15 questions which are divided into 3 separate segments:
🔸Segment 1: Introduction (5 question)
🔸Segment 2: Twitter questions (5 questions)
🔸Segment 3: Live Q&A (5 questions)
Please send a sticker or ‘Done ✅’ every time you finish your answer. Have you got it?
Otis: Yeah, we’re good to go
Segment 1: Introduction (5 questions)
1. Could you please introduce a little bit about yourself and Genki?
@Jeff_taiwan: Hey Barmy community 😉
I am Jeff, CEO of the Genki. Previously the global community manager of BNB Chain (Joined Dec 2020). Help BNB Chain bootstrap social media and community from scratch.
Genki is a web 3.0 community on-ramp platform where web 3.0 projects, channels, users and validators build new connections in a trustless way.
Below is our ultimate goal we want to reach. Genki wants to capture the opportunities of the Web 3.0 native marketing rails.
To achieve our vision of decentralized protocol, we divide Genki into 3 stages
– GenkiBox (Web 2.0 quests + Web 3.0 quests)
– Genki Matching Platform
– Fully decentralized Genki
Details in the Mirror:
Otis: Wow, impressive. Jeff, I have to say that you had lots of experience before in this area.
@Jeff_taiwan: Yeah. I start this project from the problem i met in BNB chain
Otis: And about Genki, I believe this is new and will be the upcoming trend 😉
Let’s move to next question
2. Backers and team members are the key criteria which investors look at a project to decide whether or not they will invest in. Could you tell me about your team members and what are their specific roles in Genki?
@Jeff_taiwan: I am very proud that we are an international team. Team members are across Asia, Euprope and Africa.
I like internatinal things since I travel around the world during my gap year.
My background is the global community manager from BNB Chain. Before that I was an early member of dForce and Stafi. I have a lot of experience in bootstrapping the community and product from a very early stage.
My tech co-founder Elvis is from Microsoft. He specializes in VISUAL DOCUMENT INTELLIGENCE. Also he studies his master degree in the AI and Blockchain Lab in NTU.
Otis: Microsoft, BNB Chain are the 2 famous names that we’re familiar with. Such a qualified team you had here.
You must be much supported by your team.
Okay so the next question is important.
3. What are the USPs of Genki as compared to other platforms currently? And could you describe Genki’s tokenomics?
@Jeff_taiwan: We benchmark ourselves with two projects. One is gleam and the other is Premint.
Talk about Gleam side first: We bring Web 3.0 features to projects than Gleam. Currently Gleam can only support social media quests. However, if projects want to evaluate the comprehensive on-chain user journey, they need to record the data from social media to their on-chain goals.
Then we talk about Premint: Premint is a tool built for NFT project for initial whitelist luckydraw. Since Genki will provide a range of quests verification, we can provide projects with more choices to identify and give rewards to the real users.
I am very excited for the self-service product we release. We want every project and even general user can create a page to market themself out.
About the Token part
We don’t have a token plan yet. Instead, We will issue NFT to represent rights for Genki’s product. As you can see on the market, NFT with the pass feature has become more and more popular. As an owner of Genki’s NFT, you will unlock the product features of Genki and can also enjoy the long-term growth benefits of Genki.
How to get an NFT? Join the Discord and you will know our next big campaing: https://discord.gg/aEYaSpXKsE
Otis: Oh I see, we’re looking to try it out.
And about the NFT, I agree with you because recently, NFT sales is growing quickly
Let’s go through the next question.
4. Marketing is always seen as a big problem in every project. So what is your plan to implement your marketing strategy to make Genki become more and more popular?
@Jeff_taiwan: First, We will make an outstanding product which can actually solve the problem on the market. This is the core. If you can’t solve the real problem, you can only pump and down tokens to catch the eyes of the market.
Second, we will collaborate with projects to make astonishing use cases. We want to let other Web 3.0 projects know that there is a way to know your users better. There is a way to evaluate the on-chain user journey. Don’t spend your time and money but get little result. Running a campaign based on data is the holy grail.
Third, we will use our tracking record to partner with public chains and build the trust around the community. By helping public chains to build the best user on-ramp platform for their ecosystem. When the new wave of users come, we can catch them.
Otis: Great! Let us know when you launch all these above 🥳
5. Who are partners of Genki and what do they help so far? We also curious about how will you do to expand your user’s community?
@Jeff_taiwan: You can check partners in our recent tweets. Personally, I have a lot of connections with projects. The partnership will roll out step by step. The main dish “Our GenkiBox” has not been launched yet…
And how to expand the user’s community, I mentioned a little bit in the above question. Every project we collaborate with will bring us new traffic and trust. Our growth strategy will be surrounded by our product. Then we will create our own achievement system to retain and snowball the community.
Otis: Okay, thanks for letting us know all the basic info above.
I’ve chosen 5 questions from our members on Twitter.
Segment 2: Twitter questions (5 questions)
Otis: We’ve already picked 05 interesting questions from our tweet of Genki
6. Are you planning to promote your project in countries/regions where English is not good? Do you have local communities for them to better understand your project? @Jenykim1111
@Jeff_taiwan: Yes. We need to go step by step. So English community first. Then Mandarin (My mother tongue) In the BNB chain, I have a lot of experience doing international stuff. We will build an amazing coming with vibes.
Otis: Sure, good plan.
7. How is Genki planning to attract users and show that Genki is a tool with better underlying technology and easier, more intuitive development experience? What are the challenges you are trying to solve in the next 6-12 months? @tanmoy284910957
@Jeff_taiwan: First, We do the indexing stuff from the back so users won’t even notice the difference when using the product. They just come to the platform and explore new quests and learn new skills.
Second, We will apply gamingfi features to our product. Every time users complete a quest, they will feel like earning something and have the intention to move and explore more.
For the challenges
First, How to catch users’ real demand in the Web 3.0 world fast. We will need to dig in the community deeply and make the real demand from users as a product.
Second, How to create a self-circulation decentralized ecosystem.
Currently, the cost to save relationships on chains is very expensive. The decentralized model only makes sense on Polygon right now. And if we are not so sure about the demand from the data query of Genki. It will be hard for us to make a self-circulation ecosystem
Otis: Sure, I think customer education should go first before launching any new features.
8. Genki is a web 3.0 community on-ramp Platform where projects, channels, users and validators can build new connections in extraordinary ways. What are your main initiatives to engage vulnerable communities? What economic opportunities do you offer them with the Web 3.0 Map model? @ArumiChannn
@Jeff_taiwan: For our initial version, the uploaded project will be checked by the Genki team. We will do our best to sort out good projects for the community.
For the decentralized version, it will be permissionless. Think about this way, any third parties can use the data from Genki’s contracts and host their front end to demonstrate quests/campaigns.
For Genki ourselves, we will choose to add the blue check as a proof for trustworthy projects. We can’t stop malicious projects from using our tool but we can run a dao to filter out good projects and give them a blue check.
For the economic side: In our head, we want to return more value to users and save the cost from the inefficiency in the market.
In Web 2.0, users can only pay to remove ads, in Web 3.0 users own the data on-chain (The data i talk about here is also known as on-chain credentials on the market)
Users can choose to take the notification of promotion opportunity and authorize their data for money.
In the situation of projects and channels, the market is not transparent at all now. We have seen a lot of projects sourcing the right channels and some channels can get the best marketing opportunities. By Genki, the open community on-ramp platform can match them together effectively and transparently.
The tokenomics will be built around these relationships. We will come up with more details when we have more tracking records in the product.
Otis: Yeah, the concept of Web 3.0 is so promising that it brings users a lot of powers.
And Genki is here to solve the math, I myself can’t wait to try it.
@Jeff_taiwan: Yes we will try the best to define Web 3.0 native rails
9. What are the security measures that have been made so far to make the platform secure from hackers as the hackers are now a days getting more stronger to stole the data of the investors? @KabitaTridev
@Jeff_taiwan: I want to emphasize that in this version of GenkiBox. It is nothing related to smart contracts. it will only be a tool. We don’t get users’ wallet access right. We don’t store funds. We don’t do proxy contracts. We provide indexing for quests in the backend and display the result of the campaign.
When the product itself evolves to a decentralized version, yes we will do the audit and educate our community about risk.
For people who care about asset security, I recommend reading Arthur’s thread. Recently he just got hacked and lost around 10M dollars. This is the lesson I learned from him. (Arthur_0x)
Otis: Yes, I’ll definitely read it after the AMA.
And the last question of this segment.
10. Can we (as token holders) participate in the governance of the Genki project? And what mechanism have you implemented to make sure the fairness of decisions making between small and big investors? @JNSAZ2
@Jeff_taiwan: Good question. As our ultimate goal is to become a decentralized protocol, we will run our project in a DAO way step by step.
First, Genki team will build the initial product. Then we will open the service for projects. Projects are important role in our ecosystem.
Second, we will run community DAO to help us source and filter out good projects and what kind of information we will provide to the community.
Third, we will decentralized the indexing part. Not only the Genki team, but also other third parties can come to verify behaviours and store these relationships on a chain.
In the end, we hope the community can build around projects or use cases surrounding our infrastructure.
So every person in the Genki Community will have the chance to participate in governance and make their ideas realized in the ecosystem.
Since we are not going to issue a token right away, we will build the voting power around NFT.
Otis: Love the plan.
Okay, so we’ve done the 2 segment.
The 3rd segment will be an explosion, are you ready?
Segment 3: Live Q&A (5 questions)
11. What is the most ambitious goal of your project? Could share with us any Upcoming Updates? @WilfredMaclean74
@Jeff_taiwan: Make a Web 3.0 native marketing rails!. Right now we start from tools, then matching platform then decentralized version of Genki. We are exploring more native solutions with Web 3.0 projects.
Roadmap can be found here: mirror.xyz
12. Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product? @caucongvn
@Jeff_taiwan: Yes we will take the community feedback seriously. Solving real problem helps us make good products.
One of the problem i would like to solve is that creating ways for projects to run AMA questions giveaway. I knew a lof of groups are suffering for this. If there is a way to verify identity, then the tool send the quesition for users. This can make the AMA more organized haha.
13. Staking, NFT is very hottest, do you think you will apply NFT technology to your products in the achieved future? @Larry_millard
@Jeff_taiwan: Good question
In the github, you can find the NFT related things. https://github.com/genki-labs/genki-protocol
In the decentralized stage: We use NFT to store the information and relationship. For example
- A project’s campaign info will be stored in the metadata of NFT. Then we only need to record NFT ID in our smart contract
- When a channel registers a referral ID, he will get an NFT too. This NFT will be related to the Campaign.
NFT is portable and composable which means we can unlock a lot of creativity.
Lens protocol is very hot now. With the combination with Genki, a content creator on Lens can know his influence on the Web 3.0 world if his followers follow his NFT on Lens and further complete quests on Genki.
14. Genki has a “Referral System” to its users. So, what is this Referral program like? How do we participate in this program? And How to increase awareness of your project on a global level and what type of investors are you targeting? @Nfurukawa
@Jeff_taiwan: The referral program is simple:
GenkiBox will provide a lot of choices for quests. Then the referrer shares the link to his friends. Once his friend completes this quest, it will get referral entry.
We will mark this out to more channels and products so when they run campaigns, they can use Genki.
15. I can see that users can explore new projects and learn skills by completing different “task cards”. So, Can you tell us more about this task card? What are task cards used for? How can we get involved in this and what other benefits do we get when we get the job done? @Lovely_DC
@Jeff_taiwan: Yes the minimum unit is the quest. Quest can be swap, lend, mint, etc. Projects have choices to create campaigns including multiple quests. Or projects can create a learning material and use quest to verify the learning progress. We call it learning fast track.
There are many ways to use it. Genki provides the quest verification. Then people can build creativity on top of it.
Otis: Congratulations on successfully completing the hardest part of each AMA session, which is interacting with investors and the questions they want to know.
@Jeff_taiwan: The last news I want to share with the community is that we will announce the GenkiBox Beta Test next week.
This is the opportunity to participate early and earn. Rewards will be surprise
Otis: So this is the end of our AMA today 😊
Thank you for joining us, it is our pleasure to have you here today.
Up to now, Genki has had an outstanding strategy with an ever-expanding ecosystem, promising to thrive in the near future.
Disclaimers: Writers’ opinions are solely their own, and do not constitute any financial advice, investment advice, or trading advice.
Blockchain Army strongly recommends that you do your own research, and seek professional advice from a financial advisor where appropriate.