Glass Chain AMA Recap with Crypto Venus
Glass Chain Team got invited by Crypto Venus for AMA on November 29th 8:30AM(UTC). In case you missed our AMA, here is our recap!
Q1) First, please introduce yourself to us. How did you start? What’s your role/ title in Glass Chain?
Janene: Hi everyone, my name is Janene Lavinder. I’m the Chief Marketing Officer at Glass Chain/GLS. I joined the team in 2019 and before that I worked with ETH, ADA, and XRP teams. I joined GLS because I believe GLS’s vision and its technology. I can see how GLS will provide a solution for our enterprises; using blockchain technology to solve the global entity problems that we are currently facing.
Q2) Can you briefly describe what is the Glass Chain?
Janene: Glass Chain was founded in 2017 by the Singapore Optometry Foundation. At first, the Glass Chain team was supposed to build a distribution eye optics service platform using the blockchain. With the advancements in technology, we independently developed a decentralized commercial smart contract, called DeCom system.
DeCom uses blockchain technology to gradually achieve a programming society. Guided by the theory and application of consumption capitalization, it accomplishes the code programming of contemporary business behaviors. In short, our DeCom system is a commercial version of earned value management “EVM”.
We plan to build the first shop2earn platform where people can get crypto rewards while they are shopping online. And there will be more ways to join Glass Chain’s growing ecosystem.
Q3) Can you please briefly describe the tokenomics of the Glass Chain?
Janene: GLS (Glasscoin) is the incentive token in the Glass Chain ecosystem. It’s also the Layer 1 token in the ecosystem. This will also be the burning token for other DaPPs.
Based on our white paper, 70% of GLS will be produced from mining. Glass Chain’s mining not only includes traditional pow mining, it also includes poc and pos mining. More importantly, people are considering mining while they are shopping. Everyone in this ecology is considered a miner.
In the future, GLS will be our future DAO token in the ecosystem. People who hold GLS can participate in Glass Chain’s decision making process, they will have a say in some decisions.
Q4) What is the current development progress of Glass Chain?
Janene: We are focus on three major parts:
Part 1: Building the global shop2earn platform that allows everyone to earn GLS while shopping, this will be a huge boost for the entire blockchain field. Currently, we only see websites that accept cryptocurrency payments. But no current website actually allows you to mine cryptocurrency while you are shopping. We already finished the test and now it’s time for us to use our technology in the real world in the shopping scenarios.
Part 2: Currently under development we are testing an open mining node for GLS mining, a mining cooperation with global mining companies; Soon some people will see new products from companies that we work with.
Part 3: Building the metaverse, we are working with artists from Asia to bring their work to the NFT platform and we are also working with Gamefi companies to build on our ecosystem.
Q4) What is the current development progress of Glass Chain?
Janene: We are focus on three major parts:
Part 1: Building the global shop2earn platform that allows everyone to earn GLS while shopping, this will be a huge boost for the entire blockchain field. Currently, we only see websites that accept cryptocurrency payments. But no current website actually allows you to mine cryptocurrency while you are shopping. We already finished the test and now it’s time for us to use our technology in the real world in the shopping scenarios.
Part 2: Currently under development we are testing an open mining node for GLS mining, a mining cooperation with global mining companies; Soon some people will see new products from companies that we work with.
Part 3: Building the metaverse, we are working with artists from Asia to bring their work to the NFT platform and we are also working with Gamefi companies to build on our ecosystem.
Questions from Crypto Venus Community:
1. Do the token holders have the right to participate in the governance of the project? Do they have the ability to vote on projects?
Janene: We were focusing on building the technology first, however, soon we will open the DAO mode for the GLS holders to participate in the governance of the project. They can vote on projects for example, layer 2 projects that we will build on our platform.
2. Do you have the AUDIT certificate? Are you working to AUDIT your project? For instance, so that the security of the project can become more secure and reliable.
Janene: We know security is important to all of our users and developers. We are currently working to AUDIT our project to secure everyone’s investment in GLS.
Our goal is to bring blockchain access to everyone’s lives and bring real benefit to people and communities. Our project will be a long term project and there will be many things to be done along the way.
3. What makes you feel confident about the survival & sustainable success of your project in the near future?
Janene: Firstly, I think blockchain technology is still in an early real stage. People focus on concepts more than what they can bring to the world. We at GLS stay grounded to Earth to try to figure out the business model that we can put into this project.
Secondly, the technology frame that we use is different from other blockchain platforms. We have three layers in our tech frame. Interface layer, Internet layer, and Blockchain layer. Since we are building a shop2earn platform, there will be lots of data that will happen. We leave regular data on the Internet layer and only those with important data will get into our blockchain layer.
Thirdly, we use parachain technology to increase the TPS and solve the traffic problem.
4. Does your project support staking programs? If so, how does your stake system work? What is the requirement for users if they want a stake in your platform? Do you have a Token Burning plan to increase Token value and attract Investors to invest?
Janene: Yes, this is all in our future plan and we will have staking and token burning plans soon. Although we have already finished our test round of our technology, we are still in the early stages and not that many GLS are currently being mined. We want our community to build this program together with us.
5. I’m really interested in your project. Your project seems promising and innovative.Can you share your social media handles so we can keep in touch and get updates ?
Janene: Thank you again for asking these great questions about our project. Here are our official accounts, please follow:
Twitter: https://twitter.com/Glass_chain
Telegram Chat: https://t.me/Glasschain
Website：http://www.glasschain.tech
Medium:https://glasschain.medium.com
And you can trade GLS/USDT here: https://www.zb.com/en/kline/gls_usdt
Thank you again for having me here with the Crypto Venus Community!!
