AMA with Arche Network

Today we welcome Arche Network

Alucard, [31 May 2021 at 07:00:10 (31 May 2021 at 07:00:33)]:

Hellos and welcome :)

bruno, [31 May 2021 at 07:00:29]:

Can’t wait to start!

Viking | OIG, [31 May 2021 at 07:01:04]:

We like what Arche is trying to archive with the user defined financial smart contracts !

From the OIG family, we would like to welcome you here!

Eliora | Arche Protocol, [31 May 2021 at 07:01:11]:

I quick self introduction🍀🥰

Eliora | Arche Protocol, [31 May 2021 at 07:01:38]:

My name is Eliora, the meaning of it is “God is Light” . I feel crypto space is like a fantasy, and have great opportunity for people to change their life.

I used to work for Huobi Exchange for three years and was responsible for part of the international market and also worked with a top blockchain media group as partner.☀️

Viking | OIG, [31 May 2021 at 07:02:16]:

Waouv — that name is something !

Eliora | Arche Protocol, [31 May 2021 at 07:02:18]:

Thank you everyone to join today AMA and thank you team OIG for arranging it.

Looking forwards to do another AMA in our spanish community haha!

Viking | OIG, [31 May 2021 at 07:03:05]:

Yes ! Noted — We will arrange

Can you tell us where the Arche team are from, and why you choose the name Arche?

Eliora | Arche Protocol, [31 May 2021 at 07:04:23]:

I will start with a story🌈

The story of Arche start from 6 young people, age around 24–30 years old who lead another 25 people. The core team of Arche has worked in the blockchain industry for more than 4 years.

The team has been through two bear markets and almost went out of business once. In order to survive, our technical team has taken on multiple technical development jobs and helped with the technical underpinnings of several projects.

But we have never lost sight of our team’s original vision.

We want to make our voice heard in the age of decentralization, and we want to create protocols that everyone can use, that everyone can customize their own financial protocols or create their own protocols in a new era.

Customization is an important part when we discuss about freedom.

With Arche protocol, people no longer have to do hard code, traders can use the tools provided by Arche protocol to customize their own smart contract financial orders. And for developers they can use the contract factory and APIs provided by Arche protocol and link to their own platform’s front-end and complete their development.

The name Arche comes from a Greek mythology, meaning the point of origin/fundamental.

This was the main focus of the early Greek philosophers.

Arche comes from the Greek language, which means fundamental.

As a matter of fact, Arche’s founder is a philosophy lover, one day when he open the History of Western Philosophy, the focus of greek philosophy came into view.

He hope Arche Network can be fundamental of DeFi in customized contract field.

Viking | OIG, [31 May 2021 at 07:08:41]:

Very inspiring! — You have put a lot of thought into the name — good to know the team have experience

Eliora | Arche Protocol, [31 May 2021 at 07:08:59]:

thanks!

Viking | OIG, [31 May 2021 at 07:09:17]:

As i said in the beginning — We have not seen anything like this user defined smart contracts — Can you tell us how the idea came up?

Eliora | Arche Protocol, [31 May 2021 at 07:09:55]:

The first application we saw blockchain bring to people was smart contracts, the innovation of smart contract support the protocol decentralized and tamper-evident (unbreakable).

The current smart contracts are mostly focus how to improve financial efficiency, just like Uni and Balancer, but no protocol cares about how to use smart contracts to serve the people with people.

Whether the product meets the needs of the people is the thing Arche has been working on.

People can take the transactions that cannot be done through standardized financial markets to Arche and create the financial contracts on Arche.

which Arche has a user-friendly visual interface, easy to call on-chain tools, and clear contract management.

Eliora | Arche Protocol, [31 May 2021 at 07:11:58]:

We hope that Arche will become the first and the top open platform for non-standardized financial contracts in the crypto era.

done

Viking | OIG, [31 May 2021 at 07:12:22]:

This is such a great vision

Viking | OIG, [31 May 2021 at 07:13:30]:

Speaking of people creating their own contracts — When will the community see the first demo of your platform?

Eliora | Arche Protocol, [31 May 2021 at 07:13:59]:

We will release the public testnet for V1.1 on ETH on June 6.

Viking | OIG, [31 May 2021 at 07:14:44]:

This is amazing news! i wonder why it has a v1.1 🙂

Eliora | Arche Protocol, [31 May 2021 at 07:14:49]:

We will share the announcement soon😁

Because in Arche Version one, we have few different tools and they will come out one by one.

First, we will launch the OTC with matchmaker.

Second, we will come out tools for prediction market.

On June 6, will come out with V1.1 and around June 20 will come out with V1.2😆

Stay, tuned everyone, ton of $ARCHE drop from sky. We need you to try Arche protocol and give us feedback.

Viking | OIG, [31 May 2021 at 07:18:18]:

thanks for letting our community be one of the first to know the date ! 🤗

Eliora | Arche Protocol, [31 May 2021 at 07:18:32]:

haha, yes you are

Viking | OIG, [31 May 2021 at 07:18:57]:

Now i feel like i have to try my luck — Can anything be leaked about launchpads and exact TGE time ?

Eliora | Arche Protocol, [31 May 2021 at 07:20:46]:

The TGE time will be around July to August. Most likely the mainnet will be launched befor the TGE.

Viking | OIG, [31 May 2021 at 07:21:37]:

Matchmaking, prediction market and version v1.1 and v.1.2. on june 20. Very very interesting !!

Eliora | Arche Protocol, [31 May 2021 at 07:22:54]:

we try to bring some unique tools for the users to customize they comtract and let more people support each others contract.

Viking | OIG, [31 May 2021 at 07:23:32]:

its gonna be super interesting how people will use it !

Eliora | Arche Protocol, [31 May 2021 at 07:24:13]:

Iya, let’s see what will happen in Arche testnet event🤣

Viking | OIG, [31 May 2021 at 07:24:23]:

Deal — Let us grab some questions from our community … first one from “munga”: Could you please explain the concept of asset customization

Eliora | Arche Protocol, [31 May 2021 at 07:27:03]:

In the V1, we will come out with the tools for the users to create OTC, prediction market and also auction contracts. With our tools, people who hold synsatic assets could sell their token on our platform. For example, people who stake their ETH to Stafi protocol and get rETH, but this person wants to sell his rETH but there is no place to sell it (with good price). But once Arche main-net came out, they could sell it on our platform. And this is just one of our use cases, we have many others.

In the V2, Forward contract with margin, the contract creator could costomized the deposit he want to put in and set the order effective and delivery time.

In V3, we will come out with more tools for the users to create their different kinds of financial contract. For example, we might come out with the tools for users to do fund raising for their contract or we might provide tools for other protocol to ave decentralized IDO on Arche.

Eliora | Arche Protocol, [31 May 2021 at 07:28:38 (31 May 2021 at 07:29:10)]:

Or, is someone want to sell 10000BTC this will strongly affect the market price if they do it on Uni or CEX, but they could customozied a contract on Arche which the selling price will be stable.

Viking | OIG, [31 May 2021 at 07:29:06]:

This is mindblowing that users can create their own! — What a platform

Viking | OIG, [31 May 2021 at 07:30:02]:

let us take another question, i guess somebody is looking at more chains from “Meena” — Arche mainnet launch will be on Eth and BSC, is there any plan for launching Arche on Casper Network in the future?

Eliora | Arche Protocol, [31 May 2021 at 07:31:13]:

We have no plan to be launched on Casper. But we have plan to develop on Solona and DOT. And our has already developed few small tools on Solona.

Because Solona is a new public chain which the ecosystem on it is not complete yet which means it have more opportunity for new protocol like Arche protocol. Arche is an open platform that provide financial tools for the users and we also support developers to develop their protocol. Which means if we sucessfully launch on Solona, we might roll as a important platform position on Solona ecosystem.

Since Arche have tools and marketplace for traders, we also open our contract factory and API for developers.

Viking | OIG, [31 May 2021 at 07:33:08 (31 May 2021 at 07:33:45)]:

It’s interesting — good to know you are on the forefront of Sol and Dot

In regards to earlier answers another user “CoinTravolta” ask:

I read, “In Arche, you can customize your own financial contract.” How can users do this and what might it cost? What are the benefits for users of having a private financial contract?

Eliora | Arche Protocol, [31 May 2021 at 07:34:29]:

I would like to give a simple introcustion or Arche token value first.

Viking | OIG, [31 May 2021 at 07:34:58]:

please

Eliora | Arche Protocol, [31 May 2021 at 07:35:15]:

There are four main sources of income for Arche protocol.

1. Contract creation fee (This fee will be zero at the beginning)

2. Paring rewards for Matchmaker( Arche protocol will help the contract creator to find their counter-party which will earn the paring rewards )

3. Commission fee ( A 0.1% of commission will be charged for each transaction on Arche )

4. Eco-building income ( There will be other protocols and platforms built on Arche and Arche treasury will role as the protocol incubator )

From here you could see that at the early stage, there is no charge when you create your contract on Arche. But in the future there might be a fee that depends on the DAO vote.

Eliora | Arche Protocol, [31 May 2021 at 07:37:26]:

The only cost will be the 0.1% of commission for each transaction on Arche protocol and the gas fee on ETH and BSC.

Viking | OIG, [31 May 2021 at 07:37:43]:

Yes — makes sense. Give people the possibility at the start

Eliora | Arche Protocol, [31 May 2021 at 07:37:47]:

The benifit will be, you get more freedom.

Viking | OIG, [31 May 2021 at 07:38:21]:

Like we told our community — Arche is really building something here !

Eliora | Arche Protocol, [31 May 2021 at 07:39:22]:

we would love to come out with more interesting tools for your community.😉

Viking | OIG, [31 May 2021 at 07:39:56]:

Yes — They are all fired up to try it …. Let us take question number 4 from the community from “Alucard”

For a customizable financial contract which is non-standardized, can you show an example of setting up a futures contract and how this would be different to a standardized DEX or CEX contract with futures?

Eliora | Arche Protocol, [31 May 2021 at 07:40:49]:

Let me show you from our private testnet🤪

Viking | OIG, [31 May 2021 at 07:40:56]:

👀

Eliora | Arche Protocol, [31 May 2021 at 07:42:20]:

Create Order, you need to connect your decentralized wallet with Arche protocol (We support all wallet on ETH testnet in the V1.1 public testnet)

Eliora | Arche Protocol, [31 May 2021 at 07:43:56]:

Second, select the token you want to trade.

And fill in your delivery quantity. For example: 1BTC 10ETH

Viking | OIG, [31 May 2021 at 07:44:32]:

seems easy yes — checking the picture

Eliora | Arche Protocol, [31 May 2021 at 07:45:33]:

Third, fill in the deposit (In forward contract with margin)

Eliora | Arche Protocol, [31 May 2021 at 07:47:00]:

Set the order effective time and delivery time. Which means, if your set a deposite of 5%, you only have to put 0.05BTC in the contract. And you could fill in the rest in the future (befor the contract delivered)

Pairing reward is for the matchmaker.

Everyone will be able to see your contract on Arche marketplace.

Viking | OIG, [31 May 2021 at 07:48:23]:

I see — that flow is quite straigt forward

Eliora | Arche Protocol, [31 May 2021 at 07:48:41]:

People could either be your counterparty or help you share the contract to their social media as matchmaker.

This pairing link will come out automatically which connect with your Decentralized wallet address.

That’s one of the example😊

Arche is more focused on the customised protocols that users will want to accomplish through decentralised financial contracts rather than dealing directly with computers/pools.

Many people would like us to compare us to AMM, which is currently the hottest, but we are NOT doing AMM. Arche team believes in what AMM will bring to DeFi, especially the disruption to CEX. But it cannot address the need for customisation under non-standardised markets where people have the freedom to think, so Arche serves people, and it is the first underlying protocol under non-standardised financial markets.

done

Viking | OIG, [31 May 2021 at 07:51:04]:

Amazing — That flow will also get better and better visuals in the differenct 1.1 1.2 1.3 versions

Yes talking about matchmaking — We had another question from CoinT about this: “I’ve read that people in Arche can act as “Matchmakers”, can you explain us a bit more about matchmaking? How can we be matchmakers and what is the benefit of this?”

Eliora | Arche Protocol, [31 May 2021 at 07:54:10]:

I already explain a bit about matchmaker in the previous question, but I will explain it again with more easy to understand language.

Arche create a cute tools for our contract creator names “ Paring rewards” because we see that in the spot market, sometimes it is hard for the contract creator to find their counterparty.

In order to find the counterparty faster, and get help from more people. The contract creator could set pairing rewards for example 100USDT for his contract and everyone who sees the contract could help the contract creator to find the counterparty.

The pairing link will automatically connect with your own mate mask or other decentralized wallet which means, you just need to share the link to your social media and if you help the contract creator to find the counterpart. If you help him/her find the counterparty, you will get the rewards!

So even if you do not need to create your own financial contract using Arche, you could help those contracts on the marketplace to find their counterparty! and Earn from Arche platform😆😉

Viking | OIG, [31 May 2021 at 07:55:58]:

I really like this — Not seen anywhere !

Eliora | Arche Protocol, [31 May 2021 at 07:56:54]:

thanks, there will be more suprise.

Viking | OIG, [31 May 2021 at 07:57:58]:

Awesome — Ok lets open question from our users now to Arche — they will properly come a lot as we have rewards so buckle up

Eliora | Arche Protocol, [31 May 2021 at 07:58:06]:

sure

Alucard, [31 May 2021 at 07:58:23]:

Thanks for the AMA. You mentioned OTC earlier — in the traditional sense? This is really interesting as this is a manual process we go through to buy tokens over the counter, involving a third party body. So a customised contract can be done for OTC purposes on Arche or will it be standardised? This is massive btw, especially for financial institutions!

Oxychamcial potreaicx, [31 May 2021 at 07:58:24]:

For each project, community factors contribute to the project’s victory. So, what strategies does ARCHE have for community development and long-term user retention?

Min Min, [31 May 2021 at 07:58:24]:

Every blockchain-based projects showcase the benefits of their platform. In the case of Arche Protocol , what can users benefit from and gain from the platform?

Wallace Farrar, [31 May 2021 at 07:58:24]:

Which partnerships are on the roadmap of Arche Protocol ? Having the support of projects consolidated in the field always helps with trust and therefore adoption

Wanita Rocha, [31 May 2021 at 07:58:24]:

Is Arche Protocol to you just another company you want to successfuly launch and move to next one or the one you expect to spend the rest of your life building and improving it?

Willard Cornwell, [31 May 2021 at 07:58:25]:

What is the biggest challenge you face currently in terms of becoming a successful project or company?

Thas SA, [31 May 2021 at 07:58:25]:

Could you explain some of the Recent Major achievements of Arche Protocol , partnerships and long-term plans?

Cao Hai, [31 May 2021 at 07:58:25]:

Is Arche Protocol a global project? Is there a plan to cover Korean, European and African communities? will you launch multiple language lines for non-native English speakers?

Mark LEO, [31 May 2021 at 07:58:25]:

Projects that are not traded on major exchanges remain unnoticed. What does you think about listing the token on the leading exchanges?

Arta, [31 May 2021 at 07:58:25]:

Projects that are not traded on major exchanges remain unnoticed. What does you think about listing the token on the leading exchanges?

bang lang, [31 May 2021 at 07:58:25]:

Projects that are not traded on major exchanges remain unnoticed. What does you think about listing the token on the leading exchanges?

ROHIT MEHRAN ☀️☀️☀️☀️, [31 May 2021 at 07:58:26]:

There we see many projects that claims they are fully “Decentralized” . But they done their work in a Centralized way. is your project fully Decentralized? Can you please tell us what’s your working method?

ZUKA ROSE, [31 May 2021 at 07:58:26]:

Tokens from all projects have main utility & practical goals! So can you tell us what the main role of ARCHE is in your ecosystem? Explain the utility & use cases in the real world?

Dung Hanh, [31 May 2021 at 07:58:26]:

Focus on building and developing or getting customers and users, or partnerships?

Alice Hola, [31 May 2021 at 07:58:28]:

Hello @eliorathelight I have a question Can you list some of the features with which you are most confident about your platform? How can you advertise your project worldwide and make it popular?

SAM, [31 May 2021 at 07:58:28]:

While you build your project, do you take into account community feedbacks and demands?

Thingking….., [31 May 2021 at 07:58:28]:

Good day @eliorathelight Those Investors & Partners, who have invested in how will you make sure that they get good returns & how will you Protect the Busy for them?

Bobby Broyles, [31 May 2021 at 07:58:29]:

All project coins have their main Utilities & real-life usecase! So, Can you tell us what are the main role of your coin in your ecosystem? Explain it’s Utilities & Real-Life usecases? and Why should i invest in your coin for long term?

Angel ╩╦╩, [31 May 2021 at 07:58:29]:

Investors seem to only care about the price of the token instead of the real value of the project, how does your team attract newcomers and keep members long-term with the project?

Sam Torpedo, [31 May 2021 at 07:58:29]:

What are the plans of Arche team in place for global expansion, are you focusing on market at this time? or focus on building and developing or getting customers and users, or focusing on partnerships?

Pyon Hung Sae ™, [31 May 2021 at 07:58:30]:

we all know that the majority of real life users don’t know what Cryptocurrency is all about. How will Arche team bring the adoption & education to these ones?

ReͥᎥnͣhͫⱥℝd, [31 May 2021 at 07:58:30]:

For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough fund for it’s developement Can you tell us that how your project generate the profit

Antony Worthington, [31 May 2021 at 07:58:31]:

There are a lot of developers & DeFi supporters who have already been working on the finer points of DeFi smart contracts & markets. What’s the new thing Your Project is bringing in that will help DeFi go more mainstream? Could you tell us some of the beauty of Your Project multi-faceted approach?

Adelaide Nall, [31 May 2021 at 07:58:32]:

Adoption is a headache challenge for every blockchain project, especially at this sensitive period of the whole market when many blockchain projects are dead since only few use their platform. What is Your Project team’s strategies and visions on this problem?

Raymond Rush, [31 May 2021 at 07:58:32]:

Community support is an extremely important factor for all projects, so what made you decide to choose Community to host AMA and what do you expect the most from this AMA?

Arlyne Doyle, [31 May 2021 at 07:58:32]:

Can you please explain how the voting for masternodes candidates occurs? How does the coin-holders vote, what kind of information they get from the different candidates, in order to decide which one is better for the network?

Ashlee Sherman, [31 May 2021 at 07:58:32]:

Do you plan to expand the number of masternodes? Or with those, there is enough for the near future?

Candy@LBank.info, [31 May 2021 at 07:58:32]:

The crypto world is becoming overcrowded with blockchain projects and tokens, what makes Token different from other projects?

Linren Xin, [31 May 2021 at 07:58:36]:

Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to your platform and keep them long term.

Miguelina Colley, [31 May 2021 at 07:58:36]:

I am a professional vulnerability finder on the web, do you think Your system is secure enough from hackers? Does your project have a program that rewards individual vulnerability detection of the system?

Zoe Thorton, [31 May 2021 at 07:58:36]:

Do you have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to invest?

Michaele Potts, [31 May 2021 at 07:58:36]:

What are your plans on GLOBAL adoption? Which country is presently focused on ?

White White, [31 May 2021 at 07:58:36]:

What are your plans on GLOBAL adoption? Which country is presently focused on ?

cHAI clIN, [31 May 2021 at 07:58:37]:

Where does the project name come from? What does it mean for you and why did you choose that name for your project??

Diva CEO, [31 May 2021 at 07:58:37]:

Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Does you have any special plans to attract and expand the community and improve the user experience?

Fao Bao, [31 May 2021 at 07:58:37]:

As a community based project, how can I donate my quota for your success? Do you have a Global Ambassador Program or a Referral Rewards System??

Nhua Ty, [31 May 2021 at 07:58:37]:

Which area are you focusing on at the moment? (DeFi, Stake,Dapps..) and what is your goals in this year ??

Killua Zodylck, [31 May 2021 at 07:58:38]:

Everyone knows, if you want to go fast, go alone, but if you want to go far, you go with your partners, so with Your Project which partners will promote and help Your Project reach and achieve the project’s goals?

Noname, [31 May 2021 at 07:58:38]:

I’m a developer, and I’m interested in contributing to your project alongsides earning, Do you have any Bug Bounty to check for vulnerabilities ??

Winner 1, [31 May 2021 at 07:58:39]:

Where does the latest technology your project uses come from? Are you afraid that one day your project’s technology will be obsoleted by other projects’ technology if that happens, how will you solve it?

Aneko Azami, [31 May 2021 at 07:58:40]:

So many projects just like to speak about the “long term vision and mission” but what are your short terms objectives? What are you focusing right now?

Winston Conklin, [31 May 2021 at 07:58:40]:

So many projects just like to speak about the “long term vision and mission” but what are your short terms objectives? What are you focusing right now?

SUKI ♠️♠️, [31 May 2021 at 07:58:40]:

Do you have any new partneship recently? So what advantage of this partnership to the YOUR project ?

Yvonne Huff, [31 May 2021 at 07:58:40]:

As far as I can see, NFT and BSC are the next trend of new projects. As I know there are a lot of very good development projects on this platform, what do you think about this development?

Adelaide ♦️♦️☺️, [31 May 2021 at 07:58:40]:

As far as I can see, NFT and BSC are the next trend of new projects. As I know there are a lot of very good development projects on this platform, what do you think about this development?

✅ Basic ✅, [31 May 2021 at 07:58:41]:

MAINNET LAUNCH is one of the strategies to attract users and achieve mass adaption. Do You have any plan about MAINNET LAUNCH?

Ayesha Selby, [31 May 2021 at 07:58:41]:

Do you have user manual or short videos that would guide potential users of project to safely navigate your platform?

Lam🇸🇬 🐂, [31 May 2021 at 07:58:41]:

can you share your personal opinion on Yield Farming and also Briefly explain your Liquidity Mining Program your Project?

Bertram Dominguez, [31 May 2021 at 07:58:41]:

Who are your real competitors then? How can you capture the most value from this nascent market.

Please Call Me TIK TOK, [31 May 2021 at 07:58:41]:

Can you please tell us more about the team vision cause many projects does good in starts and later abandoned the project? What are your strategy to increase attraction towards your project?

ÇRYPTÖ DÜDË, [31 May 2021 at 07:58:42]:

What are your marketing strategies and how do you plan on implementing global adoption? How do you intend on getting more users, community and investments from all parts of the world including non-English speakers and communities?any ambassador or refereal program?

NURALOM FARAZI, [31 May 2021 at 07:58:42]:

What makes you feel confident about the survival & sustainable success of Your project in the near future?

Jarjit, [31 May 2021 at 07:58:43]:

Can you list some great features of Arche that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?

❇️ The Chosen one ❇️, [31 May 2021 at 07:58:43]:

Does the Arche team have a training and guidance system for newcomers to cryptocurrency? How do you attract and reach them?

EVEL DAY, [31 May 2021 at 07:58:43]:

At this point, do you think you need endorsements to grow Arche ? how is your team promoting it?

Get it, [31 May 2021 at 07:58:45]:

Revenue is a very important aspect for all projects to survive and maintain the project / company. What is the way to generate profit / revenue of token? What is the income model ? thank

Gura ²°²°, [31 May 2021 at 07:58:57]:

has your project been audited? how about the system, is Arche safe from hacker and cheater?

ahMeD momOGI, [31 May 2021 at 07:58:57]:

How does Arche team generate revenue to sustain the project? & What are your goals to the end of 2021 and beyond?

Rapenak Too, [31 May 2021 at 07:58:57]:

After reading several reviews in social networks about your project, I realized that the development of the project is difficult. It is believed that the team seems like one of the hardest working out there. So what are the real difficulties you faced on the path of becoming your project, did you overcome all the obstacles and does your community support you, which is very important?

ⓀⒾềⓊ ♥️ⓉⓇⒶⓃⒼ, [31 May 2021 at 07:58:58]:

Is ARCHE available for the global people or It’s limited for some area? If it’s globally available are you guies planing to I believe that ARCHE is really Great and has very big Potential to Thrive in the future. Can you please Tell me how I can do Investment with ARCHE? Do you have any ICO or maybe presale now? it globally?

Dung Hanh, [31 May 2021 at 07:58:59]:

What innovations has ARCHE brought to the DEFI space? How is ARCHE changing the new DeFi ecosystem and what are the What is biggest focus for ARCHE at the moment and what is the number #1 priority for the team in the next 6 months??plans for next 100 days?

ZUKA ROSE, [31 May 2021 at 07:58:59]:

In decentralization, We all know that speed is needed, as is the current problem faced by the expensive Eth Gas Fee and the slowing of the transaction process. what are your plans to deal with this problem on ARCHE ?

ReͥᎥnͣhͫⱥℝd, [31 May 2021 at 07:59:01]:

Smart contracts are prone to bugs, How efficient and secure is your smart contract. Have you ever been audited through external parties, so we are sure that this project is safe and good for the future of investors?

Stevens Johnson, [31 May 2021 at 07:59:01]:

How do you intend to attract community members to ARCHE . How do you intend to gain more community support? How strong is your community support?

Eliora | Arche Protocol, [31 May 2021 at 08:00:04 (31 May 2021 at 08:00:17)]:

To be clear, what we are doing right now for OTC market, we focus on Token to Token trade or we could say, any asset on Chain.

Eliora | Arche Protocol, [31 May 2021 at 08:02:12]:

Not an OTC fiat channel. And we only focus on customized asset trade which means it will not have standard. You could customize anything you want. For example: 1BTC trade 1000Shib the contract could be unreasonable, but the point is, who will be your counterparty?

If your could find your counter party with your crazy idea, that’s fine🤣

Viking | OIG, [31 May 2021 at 08:03:05]:

A lot of nice questions !

Eliora | Arche Protocol, [31 May 2021 at 08:08:07]:

ARCHE is a deventralized protocol which means it’s boarderless, one we launch on ETH, no one can close it. You could first join our airdrop event and also testnet event to feel the protocol and get some free$ARCHE befor TGE😁..

There is a interesting point, some people might ask. Many of them afraid of Hackers and ask how could Arche make sure your asset is safe.

Since in the forward contract, there will be a time, that your asset is staying on the protocol.

Viking | OIG, [31 May 2021 at 08:10:08]:

free arche — be carefull saying that … 🤗

Eliora | Arche Protocol, [31 May 2021 at 08:10:39]:

I could give you a example. Arche protocol, the contract factory is like a palace, huge, and there is chance that the hacker could find a way to get in. But the problem is, there is no asset in the contract factory.

The contract that you create on Arche is like a little house, run by itself on ETH/BSC.

Viking | OIG, [31 May 2021 at 08:12:31]:

I like that analog

Eliora | Arche Protocol, [31 May 2021 at 08:12:41 (31 May 2021 at 08:32:31)]:

Which means, even the platform no one operate, but your contract will still work. And since that small house only have one entrance and one exit. It’s super hard for hacker to find that crevices to steal your asset.

Eliora | Arche Protocol, [31 May 2021 at 08:15:06]:

Ohh, then what should I said?😅 You could get $ARCHE airdrop by putting effort on Arche testnet?🥰

Viking | OIG, [31 May 2021 at 08:15:37]:

.. 🚀

Eliora | Arche Protocol, [31 May 2021 at 08:17:14]:

Yes, Arche protocol places great importance on community building and we hope that we can provide the best communication channels for users of different languages, so that they can communicate very easily in their native language. At this stage we have 5 telegram communities, each supporting the following language groups.

1. English: https://t.me/ArcheNetwork

2. Russian: https://t.me/archerussian

3. Vietnamese: https://t.me/Arche_Network_VNGroup

4. Indonesian: https://t.me/Archeindonesia

5. Spanish: https://t.me/archespanish

We will also be building communities in Indian, Chinese, Korean and other national languages.

Viking | OIG, [31 May 2021 at 08:19:06]:

Super Idea!

Eliora | Arche Protocol, [31 May 2021 at 08:19:09]:

Other than the community building by ourself, we also work with world top cummunity such as Coinmarketcap, ICOdrop and many others.

Arche Network Airdrop Information — Full Schedule And Details | CoinMarketCap

Join in or follow along in the Arche Network airdrop. Includes full airdrop details for the Arche Network project.

https://coinmarketcap.com/currencies/arche-network/airdrop/

We will have a event with CMC in one day and 17hours.

Arche

Free Airdrop Event is COMING! Stay Tuned & Get your first $Arche token from @CoinMarketCap on June 2,2021🚀💞😆

https://twitter.com/Arche_Network/status/1397552101543202817?s=20

Viking | OIG, [31 May 2021 at 08:21:21]:

that is a good marketing move !

Eliora | Arche Protocol, [31 May 2021 at 08:22:48]:

Specifically in terms of development, our first obstacle came from the cost of Gas Fee to create a contract. 🤣Befor, each time we testing our contract it cost 0.3ETH gas fee…Took longtime for us to solve this.

ETH is not only expensive for us but also our users which we don’t want to see. In addition to ETH, we also deploy a simultaneous beta on BSC, we see during our testing that the cost of creating financial contracts on BSC will drop by 70%. We are also looking forward to the development of Layer2 in the ETH network, there are some of our old partner protocols that have already try Matic, we will also further investigate the possibility of Arche in Layer2 and hope to have all these plans in our development plan soon.

Viking | OIG, [31 May 2021 at 08:25:48]:

Makes sense — everybody is waiting for Eth summer fork which coudd potentially lower fees as well

Eliora | Arche Protocol, [31 May 2021 at 08:26:24]:

We actually just strated to put great effort on build up our community and social media (At around May 10). Which means, you are a early bird that knows Arche protocol.

Viking | OIG, [31 May 2021 at 08:27:53]:

We were one of the first one here !

Eliora | Arche Protocol, [31 May 2021 at 08:30:02]:

You could try to hack us when we launch testnet🤣we would like to face the problem befor mainnet launch. And we will have big rewards for the person that help to find the bug .

Eliora | Arche Protocol, [31 May 2021 at 08:30:11]:

yes

Eliora | Arche Protocol, [31 May 2021 at 08:31:23]:

https://twitter.com/Arche_Network/status/1391705840248365056?s=20

done

Viking | OIG, [31 May 2021 at 08:33:49]:

Perfect

This rounds up the AMA with Arche ! — Thank you so much for taking your time today to answers these questions !

We will announce the winners of the prices from twitter and the airdrops

Eliora | Arche Protocol, [31 May 2021 at 08:35:06]:

Thank you Viking! And everyone who praticipate.

Viking | OIG, [31 May 2021 at 08:35:55]:

It was genuinely mindblowing, knowing more about these programable smart-contracts.

Alucard, [31 May 2021 at 08:36:05]:

Great AMA thanks for going into detail with your responses @eliorathelight

Eliora | Arche Protocol, [31 May 2021 at 08:36:42]:

my pleasure🥰

CAG, [31 May 2021 at 08:37:11]:

Thanks @eliorathelight

ⓀⒾềⓊ ♥️ⓉⓇⒶⓃⒼ, [31 May 2021 at 08:37:53]:

Good ama today thanks

Thanks @eliorathelight

Eliora | Arche Protocol, [31 May 2021 at 08:38:10]:

You are welcome!

Eliora | Arche Protocol, [31 May 2021 at 08:38:21]:

❤️🍀💪

You can get some more input from this one-page.

Viking | OIG, [31 May 2021 at 08:40:29]:

Very nice overview !

Follow Arche Network
1. English: https://t.me/ArcheNetwork

2. Russian: https://t.me/archerussian

3. Vietnamese: https://t.me/Arche_Network_VNGroup

4. Indonesian: https://t.me/Archeindonesia

5. Spanish: https://t.me/archespanish