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Our mission is to build the best environment for developers to build new innovative technology while providing secure, fast, and low-cost transactions for all.

MaticNews x ProofOfApes AMA Recap and Transcript

MaticNews: Please give us an introduction of you and your team! What past experiences you have?
ProofOfApes:  Our team originates from the Planet of the Apes, and the strongest apes have risen to the challenge to create a layer 1 blockchain built by the apes, for the apes. Our team consists of 3 experienced full-stack apes that have been in the crypto space since Bitcoin was being used for pizza delivery payments, and a large support team surrounding them.
MaticNews: Out of curiosity, why did you choose this name? Is there any background story?
ProofOfApes: The Proof of Apes or ‘PoA’ name originates from ‘Proof of Authority’ which is our consensus mechanism, and also the supernet introduction to Polygon. Plus, who doesn’t love Apes? =D
MaticNews: Furthermore, what is Proof of Apes? Please introduce the project to us!
ProofOfApes: Proof of Apes is a layer 1 blockchain built by the apes, for the apes and the PoA token is the official native token for the PoA Mainnet. We’re building an extremely fast, secure, and accessible blockchain for developers and traders alike to interoperate and create new innovating technology that we all can ape into.
MaticNews: What are your mission and vision for this project?
ProofOfApes: Our mission is to build the best environment for developers to build new innovative technology while providing secure, fast, and low-cost transactions for all. The PoA Blockchain is the next evolution for apes to test the limits and accelerate other blockchains through interoperability and secure communication layers.
MaticNews: Starting from the core, what are the use cases of your native token?
ProofOfApes: The primary use-case of PoA is that it's the native gas token for the POA mainnet supernet. The PoA (ERC20) token is a bridgeable 1:1 token with the POA native. The PoA token is used for deploying contracts and making transactions while also being a store of value. The use cases are endless, and apes are truly set free into the wild.
MaticNews: Which are your key features that respect the traditional chains?
ProofOfApes: Our blockchain is built using the flagship Polygon Edge modular and extensible framework for building Ethereum-compatible blockchain networks, sidechains, and general scaling solutions.
MaticNews: Is POA a potential environmentally friendly blockchain?
ProofOfApes: The Proof of Apes blockchain doesn't require Proof of Work GPU mining to maintain the network, instead, our validators will provide the stability for the network using 99.9% less energy than the BTC network, so yes it's very environmentally friendly!
MaticNews: How can we set up your blockchain and do you have an explorer?
ProofOfApes: We recently held a free NFT mint for our holders that will allow early access to the PoA blockchain during our hackathon event. Public release will be shortly after the event.
RPC details are below.

Chain Name - Proof of Apes
RPC - https://rpc.proofofapes.com
CHAIN_ID - 493
Token Symbol - POA
Explorer - https://explorer.proofofapes.com/

MaticNews: How do you see yourself connected to Polygon? Which benefits can you give to the ecosystem?
ProofOfApes: PolygonEdge + supernet + ecosystem of developers + amazing polygon team. I'm sure everyone here is aware of the fantastic community Polygon has, builders, devs, business development, and leaders in the space. Instead of cloning ETH2.0, we decided to build on a solid foundation using the Polygon Edge suite, a highly maintained enterprise-grade platform. Recent notable news such as NuBank is evidence of the support there is in the institutional space.
MaticNews: Let’s talk about tokenomics! Please tell us about yours and about why you chose this model.
ProofOfApes: Supply breakdown + tax creating liquidity with some stats on volume and FDV value with plans for listings and validators

Total Supply: 1 Trillion
Liquidity: 300B (30%)
Exchange Reserves: 200B (20%)
PoA Chain Reserves: 500B (50%) - For validators and/or burn at the community’s request down the line!

Taxes: 3/3

MaticNews: Furthermore, how is the revenue being generated for the project itself which can be used to finance future developments?
ProofOfApes: Generating revenue for the project itself to be used to finance future developments is a great question. The PoA mainnet validators will earn fees on transaction volume, and PoA Swap(our DEX) for mainnet will also collect trading fees. In addition, bridging tokens from Polygon / Ethereum into PoA mainnet will also generate bridging fees. All these fees will generate revenue to finance the continued expansion of the Proof of Ape blockchain.
MaticNews: Talking about the security side, the clichè question that we ask in all AMAs is, are there any KYC or audit planned for your whole ecosystem?
ProofOfApes: Yes, our audit is underway, and KYC will be done with all validators joining the network. We believe in trust and transparency between the hardware teams as it is vital to the PoA mainnet adoption. We should have the final audit report in a few days and it will be posted on all of our PoA media platforms. Stay tuned.
MaticNews: Which are the current partners and the marketing strategy to have a good amount of users at the launch of the ecosystem?
ProofOfApes: We will always aim to incentivize using the PoA blockchain, which is critical to our evolution. We will have a developer incentive program because we want developers to create new and fantastic tech on the PoA blockchain, which in turn attracts users. More users attract developers, and round and round it goes until PoA is widely used. So we want to incentivize creation. We will also be hosting a Hackathon event soon for developers to come to build and test our blockchain and win prizes etc.
MaticNews: Talking about the future, as a recap, do you have any preliminary roadmap that you would like to share with us?
ProofOfApes: We will have our PoA bridge up very soon, which will be the PoA tokens gateway from the Ethereum Mainnet to the Proof of Apes mainnet. The ape devs have made it clear that the Polygon community is very important and well-respected! Some things to look forward to are listed below.

Polygon Partnerships

New Blockchain Partnerships

PoA DEX (In production)

PoA Developer Incentive Program Initiative

PoA Developer Hackathon

MaticNews: Last, but not least, what do you think about the current market moment?
ProofOfApes: The market sentiment is picking up; we think going into the new year, with more access to blockchain technology via supernets and trusted, reliable, scalable tech, more and more institutional foundations will be migrating from web2 to web3. So though it may seem the current market may look bleak, we have high confidence that the future is bright.
MaticNews: Thank you for joining this AMA and for all the amazing information you guys have provided us!
ProofOfApes: Thank you for having us, this was fun!

Written By

Petrache Ionut

Oct 25, 2022