This Article is a Recap of our AMA with Gold Rocket and Mary (Creator of Satoshi Club) and Bjarne Hejl (CEO of Wealth Locks) and George (Team Member of Wealth locks)
Hope you Like it..
Mary | Satoshi Club- Hello Satoshi Club! We are happy to announce our AMA session with Wealth Locks! Welcome to Satoshi Club😀
Gold Rocket | Satoshi Club- Good evening dear Satoshi Clubbers!❤️
Bjarne Hejl- Hello guys. Happy to be here
Mary | Satoshi Club- Hello! Happy to see you here 👍 how’s going?
Gold Rocket | Satoshi Club- Welcome to Satoshi Club😊
Bjarne Hejl- All good. Thanks for cordial invitation
Gold Rocket | Satoshi Club- @BHejl how are you doing?
Bjarne Hejl- I m good. Let’s start and make the satoshi club community aware about Wealthlocks
Gold Rocket | Satoshi Club- @georgej20 hi there!
George- Heyy. Thank you for inviting us here..🔥🔥😊
Gold Rocket | Satoshi Club- Kindly tell a bit about yourself and about Wealthlocks
Bjarne Hejl- I am lead developer in the Project. I build smart contracts on Ethereum and BSC blockchain. I have already developed well known projects like $FST and $BASE2. Now, I am designing and thoroughly testing smart contracts for wealth ecosystem.
Mary | Satoshi Club- Great experience! 🚀
Gold Rocket | Satoshi Club- @georgej20 Make a small intro about yourself and the project too 😊
George- I manage the Marketing side of Wealth and I have almost 3–4 years of Experience in Blockchain Industry. WLT is the governance token of Wealth platform and will be utilised for all the BSC focused services to be built under Wealth ecosystem. Besides this, the WLT token itself is the fork of RFI ( reflect finance on Ethereum blockchain) with added features to increase buy pressure.
Mary | Satoshi Club- Interesting structure 😀
What do you like in Wealth Locks?😀
Bjarne Hejl- Wealth locks is a decentralized application that allows blockchain projects to lock their BEP20 tokens and (LP) Liquidity tokens in a non-custodial, time-released smart contract vault. We are the only ones on BSC that provides Liquidity as well as team tokens lock. Also, we have 1% Transaction fee on each transaction which gets distributed among holders similar to RFI. The vision of wealth ecosystem is what I love the most.
Mary | Satoshi Club- Yes, you’re BSC pioneers 😀 What is the vision of Wealth Locks?
Bjarne Hejl- Vision of Wealth is to build an ecosystem in which investor can get most of services at one place. We will be developing and integrating products in wealth ecosystem one by one. Our 1st product wealthlocks is live. Wealthtools is in completion stage. It will be live be march end.
Mary | Satoshi Club- You’re doing good! Did any projects already use your wealthlocks services?
Bjarne Hejl- The Total Value Locked in the wealthlocks smart contract is more than 1 Million already. Few Projects that are yet to be launched has already committed to lock with us. Specific stats can be checked on the dashboard on our website wealthlocks.io
Gold Rocket | Satoshi Club- Can you please share with which ones?
Bjarne Hejl- Sharedefi, bafi finance, pepe, wojak and blackbox are some of them
Gold Rocket | Satoshi Club- Thanks for sharing👍
Mary | Satoshi Club- Your marketcap is still extremely low 😉
Bjarne Hejl- Our marketing campaign has already started on all social media platforms. It will pick pace with launch of wealthtools.
Mary | Satoshi Club- Super.. Moon is near.
Gold Rocket | Satoshi Club- Thank you very much for the great intro! ready for community questions or would you like to add something?
Bjarne Hejl- We recently got featured in BSC Project with Reputable Projects like Chain link, Graph, BSC SCAN, BSC NEWS.
We’re one of the few BSC Projects that are listed on Coingecko as well as CoinMarketcap.
Gold Rocket | Satoshi Club- Excellent achievements!
Bjarne Hejl- Ya we can start with the community questions
Mary | Satoshi Club- 😀
Gold Rocket | Satoshi Club-
Q1 from Telegram User
Wealthlocks is the first lockup project on BSC. I think i have seen similar project on ETH network. From your opinion what is the different being Lockup project in ETH and BSC? And why did your final decision come to BSC?
Bjarne Hejl- Due to higher speed and less fee many devs has shifted to BSC. It is the need of the hour. From development perspective BSC is very similar to ETH chain. If you want to get an idea where our project stand in comparison to the ETH based project u can check this tweet. https://twitter.com/wealthlocks/status/1369996544154296322?s=28
Mary | Satoshi Club- But may be you added some new features?
Bjarne Hejl- Yes we added team token lockup facility , very simple interface and many more such features will be coming with wealthtools
Mary | Satoshi Club- And one more question. As I understand you also can’t guarantee that project won’t rug, right? You just locking tokens, but responsibility for audit, some contract functions still on the project
Bjarne Hejl- Nobody can gurantee that a project can’t rug. But it is very less likely if a project locks their liquidity and team tokens. It builds investor confidence and protects them upto some level
Mary | Satoshi Club- Gotcha! Thank you for your answers! Ready to proceed?😀
Bjarne Hejl- Yeah
Gold Rocket | Satoshi Club- Q2 from Telegram User
Do the locked tokens on Wealth Locks vault all insured, incase some untoward incident occur that might compromised the assets? Do you have an insurance policy?
Bjarne Hejl- Our smart contract is thoroughly tested and audited. You can check the audit report here https://twitter.com/nightwatchaudit/status/1364768798943797250?s=21
and also on the website. Audit from certik is also under process. That will be shared on website. N for insurance we are planning wealth vault that will be integrated after launch of wealthtools
Mary | Satoshi Club- You choose good audit company 😄 Good that you care about security! Didn’t you think to use third part services for insurance?
Bjarne Hejl- From our perspective security should be main focus of any project
Gold Rocket | Satoshi Club- safety first!👍
Bjarne Hejl- Our team is deciding on features of wealth vault. Maybe we can integrate third party insurance services there
Mary | Satoshi Club- This would be great ☺️
Gold Rocket | Satoshi Club- Thanks for your answers! ready for the next question?😊
Bjarne Hejl- Yeah
Gold Rocket | Satoshi Club- Q3 from Telegram User @Brainchest
I don’t quite understand, what is the advantage of blocking tokens through your smart contracts and paying? Projects can block tokens at a dedicated address without losing money on fees for you.
Bjarne Hejl- There are many differences between a project locking their tokens themselves and a secured platform.
We have done rigorous testing and audit from trusted third parties to provide a simple, interactive and secured platform. It will also help them build investor confidence and these projects will get to use the other services of wealth ecosystem at no cost
Gold Rocket | Satoshi Club-
please tell us what are these other ecosystem services?
Mary | Satoshi Club- May be you will be also help projects to find new investors?
Bjarne Hejl- WEALTH TOOLS- It’ll be a coingecko/CMC + Dextools for PancakeSwap projects. Users will be able to track all $BSC projects listed on pancake with their Social Media Handles and trending news of all projects with Data Analytics and Charting tools. It’ll be live in 2–3 weeks. Dextools generate around 300k monthly revenue from ads. All the Revenue generated from Wealthtools platform will be used to buy Back WLT. Wealth pools, wealth launchpad, wealth staking platform, wealth dex are all in pipeline. Our team is currently fully focused on wealthtools to launch it before march end. Surely we will be helping them along the line
Mary | Satoshi Club- Excellent services! I think all BSC users are waiting for such kind of project! Actually I was wondered when I knew that there isn’t a lot of infrastructure projects there.
Gold Rocket | Satoshi Club- by the way, since you are talking about the team .. could you tell us a little about who these people are? a team of like-minded people, what kind of work do they do?😉
Bjarne Hejl- Our team consist of 8 members at the moment. Two of them are solidity experts and two of them are java script developers. Rest of the team works on ideas and marketing. Everyone in our team has almost more than 3–4 years working experience in the tech and blockchain industry.
Mary | Satoshi Club- Best Team…Thank you for your answers! Ready to jump to the next question?🚀
Gold Rocket | Satoshi Club- great team background 👍
Bjarne Hejl- Yeah
Gold Rocket | Satoshi Club- Q4 from Telegram User
What happens if the person who blocked the tokens with your help decides to withdraw them ahead of schedule? Is there some mechanism that allows him to do this? And how does the process of returning tokens to the owner generally take place? Does he have a key? Or do you have some kind of system identification of the owner of blocked tokens?
Bjarne Hejl- No one can withdraw funds from lockup till the time is up, not even us. After specified time, only the Owner can claim the funds back. As it can be claimed from same wallet from which the funds were locked.
It is all inbuilt in the smart contract. Owner just have to claim from dashboard after time duration of lock is expired.
Mary | Satoshi Club- If some emergency happens?🧐
Bjarne Hejl- No it can’t be done. Otherwise it serves no purpose.
Mary | Satoshi Club- Lock is strong 💪 thank you! Ready to go to the next question?😉
Bjarne Hejl- Yeah
Gold Rocket | Satoshi Club- Q5 from Telegram User @h1drX
I believe that the fact that a token is listed in DEX’s or CEX’s can provide more trust and security to users. And it has come to my attention that $WLT is only in PancakeSwap. Do you plan to list $WLT on Uniswap or KuCoin?
Bjarne Hejl- For now it is only listed on pancakeswap. We will be pushing for major exchanges after wealthtools is live.
Mary | Satoshi Club- Wen Binance?😂
Bjarne Hejl- Hopefully in coming months
Mary | Satoshi Club- Thanks! Ready for the 6th and last question from this part?🔥
Bjarne Hejl- Yeah
Gold Rocket | Satoshi Club- Q6 from Telegram User @Wormz28
NFTs are the trend nowadays and very popular in Cryptospace and I’ve heard you are planning to introduce NFT marketplace in wealth ecosystem soon. So when will it be and if you don’t mind me asking, could you share us in advance your plans regarding this matter? Also it would be nice too if you can share here with us what are the milestones you are looking forward to achieve?
Bjarne Hejl- As I already told for now we are fully focused on launching Wealthtools. N then we will moving as per our roadmap. But hopefully we will have NFT marketplace surprise for community by April end😉
Mary | Satoshi Club- Sure, your community will enjoy your surprises😉
Gold Rocket | Satoshi Club- Please share your roadmap with the Satoshi Clubbers? 😉
Mary | Satoshi Club- Thank you for sharing!
WEALTH TOOLS- It’ll be a coingecko/CMC + Dextools for PancakeSwap projects. Users will be able to track all $BSC projects listed on pancake with their Social Media Handles and trending news of all projects with Data Analytics and Charting tools. It’ll be live in 2–3 weeks. Dextools generate around 300k monthly revenue from ads. All the Revenue generated from Wealthtools platform will be used to buy Back WLT.
WEALTH POOLS- A newer Decentralised Platform where a Defi Project will be able to create different custom pools to Auction their tokens for pre-sale or to raise funds for their Project that to be listed on BSC.
WEALTH LAUNCHPAD- We’ll be introducing Launchpad for Launching Projects on Binance Smart Chain. We will thoroughly investigate all aspects of projects to judge their legitimacy for a token sale on Wealth Launchpad : Team, Technology, Product, Community, and of course business model. Also, the Liquidity will be Locked on Wealthlocks to secure Investors funds.
WEALTH STAKING SERVICES- We are going to launch a unique staking platform where Projects will be able to launch Staking of their tokens in a very Simple, Secured and Transparent way. It will be customized as per project and community demands.
WEALTH DEX- As we all know, the continuous Increase in gas fees of Ethereum network has led to Investors to try different Decentralised Exchanges on other blockchains. But still we’re in a very early stage of DEX development. We have some amazing ideas and will be bringing the most futuristic DEX out there in the near future.
All the other Mentioned features like Pools, Launchpad, Staking and Dex will be live within 7–8 months.
Mary | Satoshi Club- And our community was also locked for some time and now they want us to give them more chances to ask questions 😄 it’s a hint that live part is near👍
Mary | Satoshi Club- Guys, are you ready?
Gold Rocket | Satoshi Club- Thanks guys! get ready for Niagara Falls from questions!🚀🚀🚀
Bjarne Hejl- Yup
Mary | Satoshi Club- Let’s go 🚀
COMMUNITY Q AND A
Drogon- Wow I am impressed to see that in just 24 hours the value of $ WLT has risen by approximately 150% (today, March 14th). This tells me that $ WLT has been in high demand and community trust in the token, but do you think $ WLT could continue to rise? Do you think the community will continue to demand your token? What do you hope?
George- We think that BSC is in a very early stages, Wealthlocks was the need of the hour as lots of investors were losing their money because of no liquidity lock. Wealthlocks is the only one on BSC that not only provides Liquidity lock but also team tokens lock. Next up we’re coming up with Wealthtools which will be a combination of Dextools+ Coingecko. We’re just finding on solutions and real use cases. Price reflects itself.
Blanca- What are the BENEFITS of being able to each one of us to appropriate some of WLT tokens, is there any special incentive from a utilitarian and economic point of view?
Bjarne Hejl- Yes there is 1% fee for every transaction that gets distributed to holders. Bonus event will also be conducted on specific intervals. Holders will also have a say in governance of wealth ecosytem
Nguyenthanh- Can you tell me how Wealth Lock project get profit from to maintain your project? Is it from transaction fees? How much percentage did you charge fees for each transaction?
Bjarne Hejl- We only charge .5% of the total funds tht are to be locked. Our main source of revenue will be from wealthtools in form of advertising and other service revenue. It will be live within 2 weeks
Tuvalunia- Which wallets can I connect with Wealth Locks?
Bjarne Hejl- For now only metamask is integrated. Almost all the bsc chain wallets will be integrated in coming week or so.
Rolex- What do you guys believe in more? Hype, technology, or organic growth in the value of WLT? I would like to know which of these options you have chosen for your project. What is the role of the WLT token on the platform and how do you plan to maintain the price?
George- We’re building working products with real use cases and trustful technology which leads to organic growth of the Project. WLT is the governance token of Wealth platform and will be utilised for all the BSC focussed services to be built under Wealth ecosystem.. We’re building Wealthtools which will be our Major Revenue generating platform of around 200–300k. All revenue generated will be used to buy back WLT.
Li- One of the roadmap goals of Wealth Locks is the Wealth Launchpad for launching projects on BSC. Can you tell us a estimated date for the release of this Launchpad? And how will you make sure that the projects are legitimate and serious? Will those projects have to meet a certain criteria to launch with Wealth? @BHejl @georgej20
Bjarne Hejl- It will be launched by April — May. We will organise a complete team to review projects thoroughly. We r hiring and building our team on continuous basis. They will chck all the loopholes and grind the project teams as much as possible to guve the community the best projects
Magdalena- What benefits does a project get by locking its tokens? What difference does it make if they are locked or not ?
George- It builds investors trust which is the most important thing for Success of any Project. If the liquidity isn’t locked, it increases the chances of investors losing their money or project can easily ‘Rugpull’. That’s why Wealthlocks is made to protect investors money.
Bjarne Hejl- Project gets credibility and investors get confidence as and when team and liquidity tokens are locked for a project. N also projects get to be part of wealth ecosystem n they will be receiving support from us and also gets to use all our features
Joxes | C R Y P T O W A V E- Pancakeswap website has recently been hacked, are you taking note of how to strengthen the security and reliability of Wealth Locks ecosystem (smart contracts, websites, gateways) in the future?
George- Yes, our Smart Contract is well secured and already Audited as we think that Security should be the first priority of any Project. You can check the Audit report here
We have a team member specifically for keeping full security on Website and gateways. All the future Audit reports will be shared with Community.
Icy- Wealth locks allows developer who built project on Binance Smart Chain to lock their team and liquidity tokens.So what are the first thing that we must do if we want to lock up project token in Wealth locks? what are the stepbystep guide? and how much fees did you charge to lock the token?
George- You can check step by step guide on Our Website. Minimal fees of .5% is charged which will be used to buy back WEALTH. You can also check our Medium Article here https://link.medium.com/XYvdrR9tEeb
💐💗 NDee 💗💐- Can I know the minimum time period to claim the funds back from lock up?
Bjarne Hejl- There is no minimum and maximum period. It will be set by owner only and owner can claim only after that period is expired.
This was one of our Best AMA as it gave a lot of Exposure to Wealth locks.
Again, thank you for your continuous support and precious reviews.