On November 8th, we hosted our November Community Call. Read below for the most important moments. If you are interested in listening to the full community call, click here for a full recording.
Q&A from the Community
Why is the collection called Sewage Fruitz?
“We have a giant mushroom man as a mascot and we were just trying to figure out different ways to clarify that without calling the PFP collection like mushrooms. A slang term for mushrooms is sewage fruit and it just seemed like a really cool thing for a PFP or an NFT kind of collection to start because obviously, we wanna save Mushroom Man for later.” - Joe
Have you guys thought about building something on top of TCAP or do you expect other protocols to do something with it?
“The only way is if we can get a Chainlink Oracle but that won't happen until we have a lot of volume. When we reach that point, we are good using Uniswap Oracle. We are in the egg and chicken kind of problem, but that's definitely something that we want TCAP being used for a lot of stuff because you can use it as collateral and multiple stuff. Even if you have NFTs that are really liquid being used, that it really makes sense that to some point an asset that it's more liquid, like TCAP has this kind of utility.” - Cris
“I also do think there's huge opportunity to build something on top of the Cryptex protocol. It is something that I think we should try to potentially share a bit more and maybe this is something on the grant side of things that we could try to amplify a bit more. I do think there is a major opportunity to build something that is a bit more automated, like when or why someone would be minting TCAP. Right now there are a multitude of strategies or reasons why someone would mint, but nothing that has been streamlined or nothing that has been, let's say automated that gives some type of APR or APY. Typically it's very much so based on the user of why they would mint, what kind of strategy they have, but trying to automate and create something that would kind of show that there is an opportunity that people could maybe potentially just deposit and something automated would be able to do all the work for them.
I do think that there is a huge and major opportunity for this. If there is anybody that is here with us or will be listening to the community call, If anything based on this little discussion that we're having here sparks any ideas or curiosity, please do let us know. We're more than happy to help you with writing a grant and also helping get that grant-funded so that you could build something on top of it.” - Matz
Is there an update from the last office hours speaker, ChainML?
“There has not been anything new that has been built on that side. I think that from ChainML's side of things, they need the strategies or what do they want us to build. What we could do here with this is if we set up a separate session or something with the community, if we could get a couple of strategies that could be automated or be fed into ChainML's AI to create something, we could definitely set up a discussion to do that.” - Matz
Are there any plans to expand the list of assets that can be used to collateralize TCAP?
“I believe that with collateral options, we had a lot of requests in the beginning with LINK and AAVE. We added them, but we really didn't see much usage. Where we see the most amount of usage is ETH and DAI. In terms of expanding collateral, it's a vote. When we launch something new, we can, as Cris was saying, stETH the community wanted to see that, so that's something that we would be very interested in adding. But it's a community thing. If there are other assets on existing tokens like TCAP, it has to come from the DAO community to add them. When we do new things like JPEGz and it's the very first time it comes out, of course, we're looking at different collateral options and I think one really cool thing for JPEGz is going to be we don't necessarily believe or have data to indicate that the correlation, meaning the ability that they track one another between ETH and JPEGz is gonna be the same as it is where it's TCAP, where it's a very high level of correlation.
One thing we might look to do with JPEGz is to have other collateral choices that are large enough where there are trusted Oracles and we know that the possibility for price manipulation of said Oracle is very low, but it has a higher degree of correlation to JPEGz. For that, I would expect to see the idea of some different collateral options, but if there are things that you want for JPEGz or TCAP, definitely let us know. I'm sure that there are some Cryptkeepers around and we'd be happy to propose that to get those added as choices for you.” - Joe
Whatever happened to the Advertisement with I think McCann or something? is that still going on?
“We have been utilizing paid advertising for the past year or so ever since that happened. It's obviously evolved in terms of where we have allocated that capital, but there has been paid advertising that we have been deploying capital into. For example, for the second half of this year or so, July through December, our mix of where we spent money has been on media, influencers, conferences, podcasts/spaces, and display advertising. For the first half of this year, January through June, similar in terms of the buckets of where the capital has been spent, just a different percentage in terms of what everything has been spent on. All of this stuff is public information, so I'm happy to share with you where this money has been spent.
We track everything and this is all public information so you can see where this has gone to and what that breakdown is on a month-to-month basis here. This is for the second half of this year. If you click on the education plus events tab, you will be able to see line item by line item where that capital has been deployed to what's also upcoming and what we're anticipating. And then there's also a breakdown by category of how that capital has been spent.” - Matz
Learn more about Cryptex & TCAP:
Website: https://cryptex.finance/
Twitter: https://twitter.com/cryptexfinance
Discord: https://discord.gg/cryptex Telegram: https://t.me/cryptexfinance
DISCLAIMER: Any views expressed in this post represent the sole analysis of Cryptex, (“Cryptex”) whose opinions are based solely on publicly available information. No representation or warranty, express or implied, is made as to the accuracy or completeness of any information contained herein. Cryptex expressly disclaims any and all liability based, in whole or in part, on such information, any errors therein or omissions therefrom. Cryptex also reserves the right to modify or change its views or conclusions at any time in the future without notice. Cryptex is an open-source, fully decentralized protocol. Cryptex is NOT an ICO. No sale has been solicited. The information contained in this post DOES NOT recommend the use of any Cryptex token, nor is it an offer to sell, a solicitation, or an offer to buy any Cryptex tokenized asset. Furthermore, CTX token rewards governing the protocol are granted by Cryptex to system providers with a value of ZERO. Always do your own research. The information contained in this post is not intended to be, nor should it be construed or used as, investment advice. No representation, recommendation, or warranty, express or implied, is made as to the future performance or functionality of any Cryptex token. Any unaffiliated use of this document, or the contents herein, is strictly prohibited without the prior written consent of Cryptex.