AMA Recap: Virgo
Time: 12PM UTC | Dec 8th
Project name: Virgo
Host: Reginald from BSC Army
Guest speakers: Hugo Lalin | CEO and Founder of Virgo
- Segment 1: Introduction
- Segment 2: Twitter’s questions
- Segment 3: Live Q&A
Reginald: We will start this AMA session with Virgo 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:
- Join Virgo Telegram
- Join BSC Army Telegram
- Follow Virgo Twitter
- Follow BSC Army Twitter
Welcome Hugo Lalin – CEO and Founder of Virgo. How do you feel today?
Hugo – Virgo Team: Hello Reginald and everyone! Im very excited to be here today!
Reginald: Yes, that’s Hugo Lalin – CEO and Founder of Virgo ladies and gentlemen. By the way I’m Reginald – the AMA Host. 😁
Please send a sticker or ‘Done ✅’ every time you finish your answer.
Have you got it? @praxls
Hugo – Virgo Team: Sure! Let’s go
Reginald: So, we are ready on the move.
Segment 1: Introduction (5 questions)
1. Could you please introduce a little bit about yourself and your project?
Hugo – Virgo Team: I’m Hugo Lalin, founder and CEO of Virgo! I’m into cryptocurrencies since 2016 founded Virgo to tackle issues I discovered during my journey in this industry!
Virgo’s primary goal is to accelerate web3 adoption by making it safer and user-friendly.
Our primary concern is that currently, decentralized applications are distributed using centralized means, most of the time a simple website. It creates a significant point of failure:
For most apps, an attacker would have to deface the app’s main website for a few minutes and make users interact with the wrong contract, stealing them without means to notice beforehand.
Imagine PancakeSwap being hacked for just 10 minutes; They would steal over 20 million from users!
We also think that most dApps suffers from bad UX and, more importantly, from reduced visibility due to the wide variety of technologies and projects;
The crypto space needs a place where users can easily find and download dApps without browsing for hours.
We want to solve all theses issues by creating the first decentralized AppStore!
Reginald: Wow, I have to admit that is such an impressive introduction 😁
2. Could you tell me about your team members and what are their roles in your team?
Hugo – Virgo Team: We are currently six in the team, expecting to grow this number as much as possible! It comprises three developers including me, one marketing officer, one business relationships manager, and one advisor!
For the most part, we have been in crypto for a long time and met thanks to it, executing mining operations and exchange services before committing to Virgo.
My mates are graduated from major french schools like SciencePo, EPITA, ISEG and Epitech
As for my self, I am a self-taught dev. I’m fond of technology and discovered cryptocurrencies in 2016.
After many years of researching on the subject and investing I had the idea of a blockchain technology that could potentially solve the blockchain trilemma: scalability, security and decentralization.
After validating that my idea was working as expected, I created Virgo!
Reginald: That’s amazing. I believe you and your team will go far in the future
3. What are the services and products your project is building to tackle the aforementioned issues and what is the role of your token?
Hugo – Virgo Team: To solve these issues, we are creating the first decentralized AppStore!
It will consist of a wallet permitting users to download and use dApps safely from a list of available ones.
The software will check the App’s source code directly from the blockchain after downloading it over a decentralized file system like IPFS, making it fully safe and decentralized
Also, this platform will fight against censorship by allowing anyone to publish their application!
Indeed, like the tokens on Uniswap, a list of recognized and secure applications signed by us will be made available to users. Still, nothing will prevent them from importing other lists or applications, making the platform completely free.
With a convenient user interface like Google’s Play Store and cross-chain capabilities, it will be the perfect gateway for beginning users!
To handle the financial flux inherent to this platform and the Apps on it, we are also creating a blockchain technology!
Combining a DAG and a classical Proof-Of-Work blockchain, it is scalable to thousands of transactions per seconds while remaining secure and fully decentralized.
$VGO will be the main currency and fuel of our ecosystem. It will secure our blockchain, permit users to transfer money and pay to use the different services our dApps offers.
Reginald: Oh, sounds interesting. I’d love to know more
4. Two weeks ago, you announced on your social media the release of your first testnet, namely “EAGLE”, on December 15. Can you tell us what it will consist of?
Hugo – Virgo Team: The EAGLE testnet will bring our blockchain technology’s first fully functional version to public hands.
On December 15, you’ll be able to download our wallet on our website and test that our technology is working by yourself!
More advanced users will also be able to mine tokens and set up a full node, a bounty program will reward users who are helping us test and improve our technology and products!
On top of this, we aim to release an Alpha version of our AppStore in early 2022, allowing investors to see even more actual products
Reginald: Here is the last questions of segment 1.
5. What is your strategy to attract new users to your ecosystem?
Hugo – Virgo Team: Our primary strategy is to create great products that have actual use cases!
Quality is the cement of great ecosystems. But we know it won’t suffice, so we will be releasing programs rewarding users that bring new people to our services, creating a positive feedback loop.
Reginald: We’ve just done Segment 1 of today AMA. We will move to the next segment now.
Segment 2: Twitter questions (5 questions)
Reginald: We have chosen 5 best questions from our audience from Twitter
6. Crypto project has 2 main mechanisms that are important for the development of the project, Hodl-to-Earn & the Stake-to-Earn. Can you explain how these mechanisms work in “Virgo”? What roles do they play in the $VGO Token? How do they benefit the users? @Kambon12345
Hugo – Virgo Team: Thanks for the great question!
Apart from the speculative aspect inherent to any asset, further improved here by the real utility of $VGO in our ecosystem, we have a staking program called Virgo Farm!
VirgoFarm is a smart contract is distributing most of $VGO’s supply to holders over more than ten years. With up to 30% APY, we think it is an excellent opportunity to create passive income! To earn, you just have to buy atleast 100VGO and lock them using our web interface, you’ll then earn VGO passively every week
You can learn more here: https://virgo.net/virgo-farm/
7. How can I buy tokens from your project? Will you have a program to sell tokens to users in the near future? @Manlook62098714
Hugo – Virgo Team: Our token has been fair launched and is already available on PancakeSwap and Xt.com! You can find our different pairs on CoinMarketCap: https://coinmarketcap.com/currencies/virgo/
8. For your roadmap I would like to ask What are your targets in 2021 and 2022 that you are focusing on? Will Virgo enter the NFT industry in the future? Do you think of adding NFT to your next portfolio? @tuan_iker
Hugo – Virgo Team: Our main goal for the end of the year is to launch our testnet successfully and to release a referral program
For year 2022, we want to release our AppStore, make it and our wallet compatible with other blockchains so our products can really be used
and, ultimately, to release our Mainnet with smart contract capabilities!
We do not plan to create an NFT project yet
Reginald: That is really detailed
9. COVID-19 has had a significant impact on the global economy, and the consequences for many globally recognised enterprises have been disastrous. How has Project enabled and retained commercial financing during this challenging financial period? @Susan13727847
Hugo – Virgo Team: The project was beginning when COVID arrived, it made us abort our incubation at Euratechnologies, but we managed to work remotely! It didn’t impact our financing as the project was living on personal funds. Ultimately, covid wasn’t a significant threat to us
Reginald: Here is the last question of segment 2
10. Adoption and business development are essential for expanding your ecosystem. Can you explain what you’re actively doing to get Virgo’s technology into developers hands and how will this lead to the creation of more DApps? @tanmoy284910957
Hugo – Virgo Team: Being developers ourselves, we understand how to create great tools for anyone who want to create on Virgo! We will carefully listen to our community feedback so we can improve on our technologies and make them as convenient as possible
We also plan to release a program rewarding devs that are building great products on Virgo
Reginald: So, now, we will move to the last segment of our AMA today.
Segment 3: Live Q&A (5 questions)
11. Do you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable ? @Islamikjibon2021W
Hugo – Virgo Team: Thanks for your question! Our contracts have been successfully audited by Techrate and DessertFinance! We will be auditing all our codes before they go public so users are safe
here is the latest one if you want: https://github.com/TechRate/Smart-Contract-Audits/blob/main/November/Virgo%20Project.pdf
12. Can you share to us your tokenomics? How much is the total and circulation supply of your tokens? Will there be buy back system or token burning in the future? @taliapurvis
Hugo – Virgo Team: Our circulating supply is ~1.1M VGO, and our Total supply is 30,032,000! Most of the supply will be distributed over more than ten years using VirgoFarm
You can read more about it here: https://medium.com/@virgocoin/introducing-virgo-farm-2b61e8cf2896
13. What are the competitive advantages of your project? What advantages do you have that other competitors dont have ? What would be your project secure most similar contender in the market today in terms of scalability, security, features, and adaptability? @Stefani_stallings
Hugo – Virgo Team: We are the first cryptocurrency that combines the security and decentralization of classical blockchains like Bitcoin with the huge scalability of a DAG, making Virgo a possible answer to the blockchain trilema: Security, scalability and decentralization
In term of features, we are trying to solve a real problem in the Crypto industry in an innovative way
14. Why you choose Binance Smart chain? we see some chain pop up with good scalability too, then why you choose BSC? @Upoma4321
Hugo – Virgo Team: We chose the BSC because Ethereum is overloaded, and we didn’t want our users to pay 50$ each time they trade $VGO
BSC was the best solution at that time in term of scalability and popularity, even if it is not as decentralized as we want to
We will bring our token to other chains in the future, starting with our own!
15. How can I stay updated about your project? Provide all possible links. @Oneplus2021W
Hugo – Virgo Team: Our main social medias are our Twitter and Telegram group:
But we have many more communication channels, you can find them here: https://linktr.ee/Virgocoin
Feel free to join us on our journey!
We are at your disposal in our Telegram group if you have any question
Reginald: Congratulations on successfully completing the hardest part of each AMA session, which is interacting with investors and the questions they want to know. 👏
This is the end of our AMA today. 😊
Thank you for joining us, it is our pleasure to have you here today @praxls
Hugo – Virgo Team: Thanks for the great AMA everyone!
Reginald: Thank you again for being here today. Have a nice day! 😁
Hugo – Virgo Team: Have a nice day, Reginald!
Up to now, Virgo has had outstanding growth 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.
BSC Army strongly recommends that you do your own research, and seek professional advice from a financial advisor where appropriate.