Our CEO Khaled Jama joined our community on Discord for a candid conversation about the recent attack that Gamerse suffered and gave our community a glimpse into what’s to come next for Gamerse. Enjoy the full transcript of the AMA below!
Mush, Community VP
Good afternoon, good evening wherever you’re tuning in from today, I’m Mush community VP here at Gamerse. Firstly, I’d like to give a really warm welcome to everyone who tuned in for today. And today, we have a really special guest with us. I’d like to welcome our beloved CEO Khaled Jama. Hi Khaled, it’s a pleasure to have you with us.
Khaled, CEO
Hi Mush, it’s an absolute pleasure to be here with yourself and with the community. I’m really looking forward to this AMA today.
Mush, Community VP
Awesome. Sounds great. So firstly, I’d like to tell our community how today’s AMA will be structured. We’re going to have three segments today. For the first segment, we’re going to talk about the issues that we had pertaining to the hack on 16th March. For the second segment, we’re going to take a look into the future and discuss the exciting upcoming milestones. And lastly, we’re going to take a couple of questions from our community. Please feel free to drop your questions in the general chat section. Let’s get started!
Khaled, CEO
Let’s go!
Mush, Community VP
For those who don’t know, can you give a brief overview of what happened on March 16th and what the Gamerse team has done to remedy the situation?
Khaled, CEO
Absolutely. Let me start by saying, first and foremost, it was an incident that really impacted us in terms of our internal team. You know, the tragedy of something, such as a hack occurring is pretty much the worst nightmare for any project and founder could imagine. It was something that really took us aback. Secondly I would like to begin explaining everything that’s happened but before I do that I just want to really thank everyone for the support during these difficult times.
So in terms of March 16th, initially, when this hack actually occurred, I was actually in Dubai visiting an Expo. So it was actually a really shocking thing. The hack which happened to our vesting contract was actually a compromise of one of the private keys. That was the owner of our treasury, essentially. So this is what actually got stolen, and which was drained out by the hacker. We initially thought it was maybe a phishing attempt. As we’ve investigated this further we found one of the private keys was compromised. One of the first issues was that the particular vault which was holding this specific treasury pool, only had one owner. So that was the first thing to note. There should have, of course, been multiple owners. So the hack actually occurred by the compromise of the private keys, which we’re still investigating, but we do believe that there was someone who had access to this. In terms of what Gamerse is doing to improve security practices, the first thing we immediately ensured is setting up a multisig. Instead of the treasury pool having just one owner, we now have three owners. Additionally, we have also changed over all of our contracts. This is just to ensure that there’s no backdoors or anything of that nature. So we’ve deployed a new LFG v2 token, we’ve deployed a new vesting contract and we’ve also deployed a new staking contract. In terms of some of the measures in place to ensure that this doesn’t occur, again, we have commissioned audits on our new contracts and to ensure compliance with current best practices and industry standards. As you know, smart contracts are a really delicate matter. And there’s a lot of different moving parts when it comes to it.
Furthermore, one of the key points that we’ve looked at, with our vesting contracts, we’re going to limit the amount of tokens. So there will never be a large amount of tokens, which will be held in one pool. So that’s something that’s really important to note moving forward. Just so ensure that nothing ever happens again, but you have to always minimise the risk. So lastly speaking candidly today, I just really want to take accountability. This is something that for myself as the founder and CEO, should have perhaps made better decisions on. So I really want to apologise to everyone, to all the investors, I want to apologise to the community. And also, of course, thank you guys, for the support that you’ve given us during this difficult period.
Mush, Community VP
Thank you for explaining it so nicely. It was really an unfortunate event, it is one of the worst things that could happen to a project. We have had really amazing support from the community toward the team and toward each other, community members linking up with the OGs to help the team overcome this event. This really exemplifies Gamerse’s community-centric future.
Khaled, CEO
Absolutely. I was just going to pick up on that, I would really like to give a special shout out to all the OGs, who have been tremendous in this difficult period. They really stepped up and we really really appreciate that. Also the support from the community as a whole has been tremendous, we’re touched just by how supportive everyone is and really believing in the team, trusting in us and showing faith. We really appreciate that and we’re looking to repay you guys immensely.
Mush, Community VP
Transparency at a time like this is absolutely crucial for the community, what has Gamerse been doing to ensure this?
Khaled, CEO
Absolutely, transparency is absolutely the key. One thing that we’re going to be doing, like I said, we have commissioned audits, for our smart contracts and also just for best practices. Moving forward we have actually implemented risk measures to ensure that there’s never an infiltration that could have a major impact. Also, on our actual contracts, we have added extra security measures. So that’s very important. Moving forward. For the transparency side of things, we will be releasing our post mortem report, once we’ve finished our investigations, as is still open at the moment. And of course, having this AMA having the community ask any questions, that’s also very important just for the transparency. So this is sort of the agenda also, of today’s AMA.
Mush, Community VP
I think that would go a long way towards solving a lot of the problems and a lot of the questions that the community maybe has, so definitely we’re looking towards the post mortem. And as you were just explaining that we recently had our v2 launch and the v2 staking is coming soon. So can you please explain the v2 distribution process?
Khaled, CEO
Yes, absolutely. So in terms of the v2 distribution process, we have pretty much completed all of our airdrops. So we actually had several airdrops which were done through snapshots that were firstly taken pre-hack, essentially, which was a 1:1 airdrop. We created an airdrop contract just to streamline the process as there were about 10,000 addresses involved. We also then, of course, had our post-hack airdrop which was a snapshot, which essentially averaged the price to what it was pre-hack, which was 0.007. This was a measure that we put in place just to ensure fairness and a level playing field. So this is essentially how we done the distribution. We also distributed all of the LP tokens in terms of the compensation. And just also note, one thing which is really important when running such an airdrop, sometimes there’s an anomaly, there may be something that we may have got wrong on the distribution side of things. So we have actually created a Google form, that the community could use to provide information, and then we could take it on a case to case basis. And it’s really important to note, we’re here to make the community whole. So in terms of compensation, we’re here to make sure that everything is back on track. If anyone in the community has any queries, if there’s any missing tokens, please do reference our Google form.
Mush, Community VP
And just to let you know, guys, I have also pasted the link of the Google Form in the general chat. So if you guys have any complaints regarding tokens, if you feel like you should have received more tokens or there’s some issues with your tokens please do fill out this Google form and the team will be in touch with you: https://docs.google.com/forms/d/1iF6Tb5VTx_sdK4uBkxgZNPNXgtWN44iyyv_cwF4H9S8/edit.
I would also like to ask you how will the trading and token migration be done on MEXC?
Khaled, CEO
That’s a good question, in terms of MEXC, as you know it’s an off chain wallet, it’s non custodial. So, as you can imagine, we were in a lot of talks back and forth with our central exchange and we have definitely reached a resolution. Essentially we’ve transferred the tokens to their wallet, and they done the airdrop to all of their wallets. This has been completed and they actually sent over the correspondence today, which I did share with you and I’m hoping you did share that with everyone Mush. So pretty much the airdrop has been completed from MEXC and thankfully, trading has commenced today at 1pm UTC. So we are back on track and everything has gone smoothly. In terms of MEXC, you may notice that there’s the old version of the LFG token in your wallet but just sort of ignore that. And we’ve done an update, where LFG is essentially the v2 token.
Mush, Community VP
Okay, I think that’s cleared up right now, because a lot of people who bought on MEXC were asking about this. I think we can move on to the next question, a lot of people are asking about the SAS pool and LP staking pool. Could you shed some light on what will happen to those who staked in those pools? Also there are some people who didn’t unstake as requested, could you also provide some insight for those people?
Khaled, CEO
Absolutely. So first and foremost, in terms of our airdrops, regarding the 1:1 airdrops and even the post-hack airdrops, we did actually include the amount that was within the SAS pool and within the LP pool. So that was considered already and factored in. Regarding, SAS v1, we did actually pause to withdraw just because for us to do the calculations for the airdrop, if we add people to withdraw from the staking pool, that was going to confuse a lot of things, and also almost gonna make it very, very difficult to actually calculate for our AirDrop. So that was why we had to postpone and so pause the SAS staking. So in terms of rewards, which are missed out, like I said previously, if anyone feels that they have missing tokens, missing rewards, they could complete that Google form and we will take it on a case by case basis. However, just overall, we have factored that in guys, so no one is hopefully missing out tokens from the respective staking pools.
It’s really important to note in terms of rewards, there has been a time period that people haven’t been able to accumulate. We have actually also factored that in for our SAS V2 pool where the reward pool is higher and we have added higher APYs. So essentially, in terms of rewards, that’s something that can be accumulated back and we have factored in. And also we have lowered the limit for the whitelisting for the NFT AirDrop, as well. So it was actually previously the first 10 days and it was actually an eight day whitelist period, we’ve actually lowered that to just 7 days. And secondly, also that the NFT avatars which are the fire NFT’s can be now used on the platform when it launches. So we hope that something positive came out as well.
Mush, Community VP
Thanks for sharing, I think the community will be really happy especially as a lot of people missed out on the NFT rewards during V1 staking so this will be a great opportunity for those. And now I’d like to move to the last question of the first segment. Which I think is the most asked question related to the hack itself. Moving forward, What is the Gamerse team doing to enhance security processes to ensure this never happens again?
Khaled, CEO
This is absolutely the most important point, because we need to learn from this and make sure that never happens again. So essentially, one of the first things that we are doing is in terms of the multisig. On all of our different vesting pools, we will ensure that as now, which we have done with a minimum of three owners, the owners are external to the team as well. So that’s number one, very important to know. Second of all, upon deployment of our new smart contracts on the constructor, we have actually made sure that deployment of ownership was to the specific multisig. So there’s never any question mark. Another point regarding our vesting pool, it will never be loaded with a high amount of LFG tokens, it will always be limited to further minimise risk. Regarding more measures that we’ve taken for security, we have also added a bot protection on our LFG token. For example, if there was something to happen, we could actually blacklist that specific wallet. So that’s very important to know. You don’t know what the future holds so we’re just really just taking as many measures as we possibly can. Another point, we have redeployed all of our contracts, just to make sure that, you know, we 100% know the level of security, and we’ve gone through it diligently. And we’re very confident already from the first report that we’ve heard from our auditors, that everything is in place. Audits have been commissioned not just on our smart contracts, but also just on the best practices for security. Especially crypto being a very fast paced environment, you always have to be up to date with the best measures. So essentially, guys, that is what we’re doing to ensure that this never happens again. This is essentially, you know, possibly the worst thing that has happened. But we have learned very quickly.
Mush, Community VP
Thanks for explaining this, I’m sure the community would appreciate that. We’ve come to the end of segment one. I think we’re ready to hop into our second segment for today, where we’ll be taking a look into the future and discuss the exciting upcoming milestones for Gamerse.
Khaled, CEO
Before we start the second segment, I would like to conclude things by giving a few words. One thing that I’ve really been taken aback by, and I’ve been really proud of, is how our partners have shown us so much support, from our vendors to our market makers and especially our partners from the gamefi space. As you know we are a unifying hub and this depends a lot on partnerships, everyone has been tremendous in showing support and understanding of the situation. That has really, really helped us. There has been a set of course where we had a time period where trading ceased and etc. But I just wanted to mention that we have received great within the crypto space.
Mush, Community VP
So let’s move onto the second segment of the AMA. Gamerse team is fully committed to the long term success of the project and recent events have not put us off our roadmap. Let’s talk about the upcoming launch of the first feature of the Gamerse platform, our Social Aggregator Marketplace or SAM for short! Tell us more about this exciting new platform and how its different to other NFT marketplaces like opensea?
Khaled, CEO
Absolutely, first and foremost, in regards to our SAM and in terms of how it differentiates from existing marketplaces, number one, it’s in the name, it’s the social aspects. So when it comes to the social side of things, we have innovated, for example, by having our NFT ratings, which then plays into our leaderboards, where th NFTs that the community vote on will be tracked in a leaderboard and our gaming partners will be able to rank not just by the followers, but also by the reviews and feedback of how popular they are on the platform. This allows gamers to then learn about and discover new games. So that’s very important. When it comes to, you know, some of the social side of things as well, I would say that our messaging feature is a differentiator. The fact that you could come on to Gamerse and you could actually socialise with your friends and with creators and directly initiate trades is a really cool feature that I’m even on a personal level, extremely excited about. I’m really passionate about NFTs and really passionate about gaming. So I think this is really cool as well. In terms of some of the other features that differentiates us, is our game page. So we actually have verified game page where essentially, our partners could plug in all of the NFT assets and with us being an aggregator, we actually allow for escrow smart contract where the partner could actually still sell the NFTs on a native marketplace and actually leverage Gamerse as a second marketplace where they could share there NFTs. So I would say the game page is really a game changer, essentially. A few cool features I would say about the game page itself, is that there’s the NFT assets which are displayed. But also, you could launch the game directly from Gamerse. We like to call this our steam solution, whereby we make it easy for gamers to actually explore new NFT games. That’s also easily done through our trending games on our platform as well. So, just in a nutshell, why we’re so different from any of our NFT marketplace, is that we’re really gaming focused and we focus on the social side. So the gaming side focuses on the aggregator, the social side focuses on the community driven platform, where it’s all about the gamers. It’s all about connecting, socialising and actually enjoying your trades. So, this is a bit of an overview.
Mush, Community VP
That’s amazing and it’s way ahead of any marketplace available for NFT gamers currently. Can you tell us more about where the idea came from?
Khaled, CEO
Absolutely, let me share where this idea stemmed from and what got me excited about wanting to create Gamerse. Essentially, it was the fact that having your NFTs just sitting in your wallet, I thought that this is something that is not engaging enough, so the actual idea that you could display your NFT’s in your social profile, as you would do on any other social media, Gamerse is essentially a social media in its economy. That was what really first got me excited and brought this whole idea about. Also the fact it’s so early when it comes to Gamefi and NFT gaming and even the metaverse, which no one even really knows the direction its heading, to create a platform that you could socialise and easily discover that was really essentially what we’re building in our big ecosystem at Gamerse. And yeah, I’m really excited just for the beginning of you know, the birth of SAM, I could call it, it’s almost like a baby that’s being born. But you know, it’s really going to be the start of creating your profile and really growing your NFT presence. This is what I’m really excited for everyone to take part in.
Mush, Community VP
And all it’s the beginning. And as we move on and expand Gamerse as a platform we really aim to be the unifying social hub for the play-to-earn space. So it’s really amazing. Players can earn NFTs in their favourite games, put it on our SAM and instantly sell or trade it for an NFT from a different game. This is only possible when gamers are brought together in a single social hub rather than the current state where gamers are fragmented and communities are isolated inside of each game on different blockchains. So I would like to ask, how long has the team been working to develop this platform? And how’s it going so far?
Khaled, CEO
In terms of how long it’s taken us, we started working on this last August. In terms of just the concept, it was actually conceptualised last year, June. That was when the first designs or prototypes were put together and of course it has developed a lot since then. In terms of why it might seem like its taken a long time, I like to use this analogy of a Fiat is essentially built in less than a day but a Rolls Royce takes six months of building. So it is really about the quality of what you’re building and with Gamerse, SAM is only part one and it’s going to have a lot of different versions and improvements. So there’s a lot of planning done. We’re way ahead as well, we pretty much have the roadmap of where we want to be in q4. And there’s a lot of developments to come. It’s been about, I would say 8 months of progress, so it’s literally almost like a baby that’s been born. SAM is essentially going to be the start of a major ecosystem.
Mush, Community VP
It’s very exciting and its safe the say the Rolls Royce is nearly fully built!
Khaled, CEO
Absolutely. Maybe if I actually jump in here Mush and you alluded to the fact that it’s almost ready. What do you think? Should we let everyone know the official launch date?
Mush, Community VP
Yeah, I think so because if we look at the statistics of the past few, two or so months, I think that is the most asked question in the community. Everyday I go into the community and people asking when SAM? They’re really, really excited for this. So I’d say yeah, I mean, why not? I mean, let everyone know, in this spirit.
Khaled, CEO
I think it is a good time. Now that we got everyone excited about SAM, I think it’s only fair to sort of give them the actual date. So in terms of our launch date, I can let everyone know today guys, that we are going to be launching on April 15th. So we’re over two weeks away from launch. So we are really, really excited about that.
Mush, Community VP
Okay, okay, that’s really great. So guys you finally got the official launch date so you can set your alarm and mark it in your calendars. Another question that I have regarding the launch of the SAM, which I think a lot of the community members are going to ask as well, is that we were supposed to complete development of the SAM in Q1. Okay, so now we have moved into April. So can you please explain this delay? And I mean, what are we trying to implement between those two weeks so that we have a good product.
Khaled, CEO
Absolutely, I can definitely elaborate on that. I’m in terms of the actual delay, I mean, we were actually on schedule to launch this on the 31st and we were days away from announcing. And then, of course, we had the incident with the hack, which delayed things and there’s been a two week pushback. We’ve had to redeploy all of our smart contracts and that’s taken us a lot of time, a lot of work. So that’s really the biggest cause of the delay. So we actually want to ensure that we could do our quality assurances and ensure we deliver a product that’s 100%. So this is why we didn’t want to rush it out. And we do believe that April the 15th is a comfortable day. And also, what is really important is that we promote this right as well, you have to give it a bit of time. So I can actually let everyone know today, I could give another update. In terms of the promotion, we actually have our partners Crowd Create, which I would say is a start of a milestone in terms of mainstream marketing and we’re actually engaged with them now with press. So I could announce to everyone today that we have a CoinTelegraph article, which provides a deep dive into SAM. I’m really excited about that. Secondly, we are actually going to be engaging in influencer marketing as well with Crowd Create. So what is really important is to get YouTube videos out there, get influencers showing us sharing a demo of the platform, as well. So this is essentially some of the next steps that we’ve taken to ensure that we maximise on our launch.
Mush, Community VP
Okay, so I think we can move to our next question, mainstream adoption of blockchain integrated gaming is on the horizon. Okay, so can you talk to us about how our social aggregator marketplace will ensure ease of use for the all influx of non crypto savvy users?
Khaled, CEO
Yes, absolutely. So first and foremost, in terms of the signup process, we have the option of using Taurus Wallet which will allow for a one click signup from your web 2 applications. So essentially, you could use your Twitter, Facebook, Discord etc to create your Gamerse wallet. So that’s the first thing, the easy one step sign up solution. Secondly, just to cross that bridge from web 2 to web 3, we will display all our pricing in USD by leveraging our pricing Oracle which we will be announcing in a press release. Also, when it comes to purchasing NFTs, we will have our interactive flip card NFTs, which displays the owner, the date minted, and a clickable link to the blockchain explorer, that’s a way where it’s easy for the new investor, who perhaps doesn’t know too much about NFTs to gain an understanding. Another way in which we tried to really make the UX as streamlined as possible. For example, there’s so many different NFT drops, you know, we’re essentially going to be an INO platform as well, so in order for you to track this, you can easily add to your watch list and you can view that in a calendar view. We’ve really tried to optimise on the UI side of things as well. In terms of some of the other features, you could of course display your NFTs on your social profile and other users will be able to visit your social profile on Gamerse to view your NFT collection, comment, like and share them as well. Another thing, which is very important to know, is that we make it very easy to discover NFTs. So you can filter through your favourite categories, blockchains and platforms. And of course, on the reverse side of that, when you’re creating NFTs, we’ve really tried to streamline the creation process, for example we allow for lazy minting, whereby you don’t really need to pay the gas fees upon minting. That’s again, something that for someone who’s perhaps new to NFTs could really utilise.
Mush, Community VP
Amazing, we’re really trying to build one of the most user friendly NFT platforms. Personally I’ve used a number of NFT markterplaces and when I was new to them it was overly complex. I think Gamerse is doing an amazing job in catering to the influx of non crypto savvy users as the NFT gaming space grows. So the benefits of SAM for the average NFT gamer is clear, but how will SAM benefit game developers and the wider Gamefi space?
Khaled, CEO
Yes, absolutely. So there’s actually a few ways of looking that. So let me start off with the games, as you know, a lot of traditional games are also turning to the play-to-earn model. And there’s, of course, a huge influx and an oversaturation of projects now launching, and it’s all happening in this one time. And it’s hard to stay up to date with all these different games. So that’s the first thing that we really wanted to focus on. It’s being a unifying hub, where, instead of just for example, if you go to Open Sea, there’s so many different types of NFTs in different domains. We’re specifically focused on gaming, you know, we are a one stop shop for gaming NFTs and the Metaverse. So some of the different ways, of course, that we offer solutions to our partners is the Featured Drops, which are highlighted on our landing page as first thing you see which gives them maximum exposure, sort of of like an advertisement for them. And I think that’s really important just to learn about the new games. And then, of course, we have, the verified gaming pages for each of our gamefi partners, which allows for the gamers to actually learn about the products. So let’s just say one of our verified partners, you see them trending, you may want to just explore a little bit more and what better way than to click on their profiles on the game page and see they’re NFTs. So you get a picture of what the gameplay is going to look like, because you can actually visualise there NFT assets. The game page will also feature all the links to their website, social media so the user actually learn about the project. Users will also be able to launch the game directly from the game page. That’s some of the ways that we’re solving the problem of fragmentation by really focusing on the right solutions. One thing which is really important, our solution is something that we feel like is really going to help projects long term as well, to sort of build a community as we are essentially a community driven platform.
There’s so much to it and in terms of the Metaverse, which I think everyone could see the top companies and industry giants are all looking to get into, we just had the CEO of Epic recently come out and actually say that the metaverse is a trillion dollar opportunity. So I think that kind of goes to show where this is headed. And just the magnitude of what we’re actually trying to build at Gamerse.
Mush, Community VP
I absolutely agree and just to add to your point, the Gamefi space is indeed very attractive for gamers and a lot of existing traditional games are gearing up to enter the Gamfi and metaverse space. I think this is a huge boost to our community
Khaled, CEO
Indeed, one thing that is really important, is really making a Gamerse a hub that focuses on the gamers, because essentially all of these big games are going to want to plug into Gamerse when they see that it is a community driven platform. So that’s something that we’re always focused on, you know, with our socialfi Share-2-Earn model, the rewards when you make transactions using LFG where you get a LFG lottery ticket, you know, a lot of these sort of ideas, they’re really focusing on the end user as well. So I just wanted to mention that we are, of course, focused on these big games. But if we really focus on building the ecosystem, and focusing on the gamers, you know, a lot of these traditional games, which essentially, like you said, Mush, are looking into Play-2-Earn, we’re aiming that Gamerse becomes the number one platform for the NFT gaming industry.
Mush, Community VP
I agree for sure, really excited for it. So let’s move on to the last question of the segment. I would say the last question for today as well. It is actually one of the most important questions and community members have asked you this a lot in community chat: how does our native token LFG integrate into the gamers platform and what uses will it serve?
Khaled, CEO
Yes, this is a really good question. So in terms of the LFG token utility, there are a few different aspects. The first of which being discounts on the platform. So if you take into account that SAM is a marketplace, there’s going to be transactions where, when LFG is used as a base currency, you get a 50% discount, rather than the other currencies that can be used on the platform. So we do believe that that’s a really bullish discount as well. And with that discount, there’s also a 50% burn. So that 50% Burn essentially is going to add scarcity to the token, which then essentially raises the price by adding deflationary pressure. Another utility of course, when we focus on the social aspects, with our share to earn model, users will actually have to stake LFG tokens within the verified groups. And this is what they will be earning for their yield. We also have a feature whereby, for example, if you would like to engage in some of the more premium social features, which is on SAM, you would have to at least have a nominal value of LFG within your wallet. But again, there’s a utility that if you want to engage in some social features, like ratings, etc, you have to be a part of the LFG community. We also have the LFG lottery. So for each transaction, both buyer and seller, will get one raffle ticket. So that’s something that is really bullish. It’s a weekly pot and there will be three winners. There’s going to be a chance of three winners, which is done on a weekly basis. And then of course we have within the future, this is not maybe for the marketplace, but our governance token as well. So it will be utilised as a governance token, which will then also go into our Gamerpad, which is our decentralised launch pad. So those are things to look forward to as well, but I would say on official launch, one of the main things that I want everyone to really focus on is using LFG as platform discounts, because SAM is a marketplace and it’s all about volume right? So the more volume that there is on SAM, it’s the discount that’s going to incentivize for LFG tokens to be used. Secondly, every time that LFG token is used, there’s a 50% burn, which for every holder now, that’s actually going to raise the price of LFG. So I personally think we should focus on that specific utility to be the main one and that’s the main one, which is going to be launching on the beta on 15th April.
Mush, Community VP
Yeah, that’s actually huge. That 50% Burn, I think long term, this is going to be massive in terms of the total burn.
Khaled, CEO
110% Mush, long term, if you just consider some of the transactions that will be happening on Gamerse, I’m sure people can just see everything that’s happening with a lot of these NFT drops lately, that’s something that we’re extremely excited about. Absolutely.
Mush, Community VP
Okay, great. Thanks for sharing all these updates. So, guys, we have come to the end of the segment two, and now we’re going to move into segment three where you guys could ask questions in general chat and Khaled will answer them.
Okay, first question one user is asking about changing the contract address on CMC and CoinGecko, do you have any updates on that yet?
Khaled, CEO
We are actually still waiting to receive the update. So this is something that’s actually pending at the moment. As soon as we have to update we will announce this to our community.
Mush, Community VP
Okay, okay. Great. Another question is what features can we expect in the beta version of SAM to start off with?
Khaled, CEO
Okay, so the features that will be on SAM, just to start off with is the Featured Drops, which is one for the INOs, Calendar drops, of course, there will be like, share, comment, we will have direct messaging, we will have auctions with timed auctions and Dutch auctions, we will have to ability to create NFT’s, there will also be a trending games and trending gamers leaderboards. There will be the verified game pages and each user will be able to create there own profile pages to display their NFTs and finally the discover section for users to explore the NFT gaming space. These are going to be essentially the main features that are going to be launching on the beta.
Mush, Community VP
And another question that I think is who’s doing the new security audit for us, and when will the users be able to view it?
Khaled, CEO
So Certik have been commissioned to do the audit and we’re just awaiting an update. As you know Certik are extremely busy as well as they are a tier 1 auditor. So as soon as we have an update, we are going to be sharing with the community.
Mush, Community VP
Okay, that’s amazing. Certik are a really big name in the space. Another question, a user asked when they stake after the hack while they are in the 30 day period, will the 50% token burn still apply for them?
Khaled, CEO
Yes, we will reimburse them, essentially. So they will just have to fill out the Google Form, provide their wallet addresses, and the TX is etc. And we are going to re reimburse them the burnt amount.
Mush, Community VP
And the last question that I’m going to take from the chat is how do you get verified on the SAM? I mean, like is a KYC required?
Khaled, CEO
So to be verified, that will be done through a form. Is that KYC required? No, there isn’t any KYC required.
Mush, Community VP
Would you mind if I took an additional question from the chat?
Khaled, CEO
Absolutely, no problem
Mush, Community VP
Just found this question really good. And that is one user asked will there be any update on the transports report as part of the white paper?
Khaled, CEO
Yes, absolutely. As soon as we have our audit completed, that will be one of the first things that we’re going to do. And that will be a part of the announcement. Absolutely.
Mush, Community VP
That’s great, I’m sure the community will appreciate that. So e have come to the end of to the session. And it was an honour to have you with us for such a long time. That lasted for over an hour, time flies when you’re having fun! I would like to thank you for tuning in with our amazing community. And also, I’d like to give a thumbs up to all the people who tuned in for the whole time.
Khaled, CEO
Absolutely. Likewise, and maybe we could maybe Mush we could get a transcript as well for those who’s missed out as well. And just really appreciate everyone who tuned in. And just overall, appreciate the community. So thank you. Thank you very much, guys.
Mush, Community VP
Thank you all, I would like to say that really, really exciting days are coming. Have a great day guys and take care, bye bye!
Khaled, CEO
LFG! Take care everyone, bye!
