Glass Chain AMA Recap With Decentralized Club
Glass Chain Team was invited to join Decentralized Club for an AMA. Our community manager Alex joined the AMA and introduced what is Glass Chain, GLS and the future shopping experience for people on WEB3.0.
The following questions are from the AMA.
Q1. Can you tell us about Glass Chain and how it is leading the commercial blockchain implementation?
Glass Chain was founded in 2017 by the Singapore Optometry Foundation. At first, the Glass Chain team was supposed to build a distributed eye optics service platform based on blockchain technology. With the development of technology, we independently developed a decentralized commercial smart contract, called DeCom system.
Q2. Can you elaborate on the DeCom and the also overall architecture of Glass Chain?
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 “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 the Glass Chain ecosystem overall architecture.
Q3. What is the utility of a $GLS token, how do we acquire it and how are the holders rewarded?
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 comes from mining. Glass Chain’s mining not only includes traditional pow mining, but also includes poc and pos mining. More importantly, people are considering mining while they are shopping. Everyone in this ecology is considered as our miner. The technology is under development, all users from the world will be able to buy crypto related merchants and also get GLS rewards. We will build on Web3.0’s distributed shopping experience to connect the world.
In the future, the Glass Chain system will also have our own DAO token in the ecosystem. People who hold GLS can get our Dao token to participate in the Glass Chain’s decision making process.
Q4. Can you let us know about any of your partnerships and investors?
As for early investors, we received initial funds from Esfino and Jesdoo fund. And we appreciate their trust to let us have the opportunity to build such great technology. And also, we have some private investors that trust us too.
We are still in the early stage and we are still open for investments that help us grow bigger and bring crypto to everyone!
Q5. What objectives are you planning to achieve by the end of Q1 2022?
Firstly, we will have the open market in discord for NFT holders and merchants’ factories to be able to communicate. We want to bring NFTs into commercial use like clothes, hats, and any other real merchants. And the merchants can be sold on Glass Chain’s system and will be able to mined GLS as the shop2earn rewards. And GLS is already listed on ZB.COM, you can trade here: https://www.zb.com/en/kline/gls_usdt
Please come to our new discord channel if you hold NFTs and want to meet factories. https://discord.gg/3drnfEt5qy
Secondly, we are working with mining companies, we will have a mining node open for everyone to mine GLS.
Lastly, we will continue to grow our public chain’s ecosystem by working with other great projects like GameF, SocialFi, DeFi.
Questions from twitter:
Q1:The NFTs on your platform are the tool of everything, they can be used for trading and gaming but how versatile are they? Is there a way to improve the NFTs with extra items and get better stats and price or fractionalize them for trading?
The way we use NFT is, we will bring NFT into real commercial use. Right now, we only know NFT can be traded for gaming. But what we will do is to bring NFT to the real world by connecting factories to produce merchants. And their merchants can be sold on our system, everyone can use our system to sell their crypto merchants and eventually we want to achieve distributed commerce on WEB3.0
Q2: Explain your plans on global expansion, is it only the market you are focusing on all the time? Are you focusing on building or developing and getting customers and users, or partnerships?
As I mentioned above, we do not have any specific location that we are focusing on. Our plan is to achieve global distributed commerce. Eventually, our system will be open to anyone, they can build their own decentralized shopping site using the DeCom system. After the whole shopping process is done, the transaction ID will trigger the DeCom smart contract to mine GLS based on their role in this system.
Q3: Reading about your GLS tokens, you mentioned Optometry ecological service providers need to stake GLS to obtain tickets to enter the ecology. What’s the required amount of $GLS to stake? Do the staked $GLS accrue any interest?
Right now, the optometry field is kind of our test field before we cover every other field. Right now if the merchant factories or service providers want to get into the system, they need to stake GLS first, so that we can prevent them from doing things harm our customers.
But for customers using the system to buy stuff, they don’t need to stake GLS.
Right now, we do have a staking program with ZB.COM exchange. People can buy GLS and stake it to win 30%.
If anyone is interested, you can buy GLS HERE:https://www.zb.com/en/kline/gls_usdt
Stake GLS HERE: https://www.zb.com/en/mining/detail/gls
Q4: Glass Chain has created a commercial application smart contract collection system known as DeCom. Why did you choose DeCom? What advantages does it have compared to the other system? What roles does DeCom have in your ecosystem?
DeCom is short for Decentralized Commerce. Our chain’s goal is to build a global decentralized commerce and anything around it. The DeCom system combines all the complicated business models and can be used in almost any complex situations related to online shopping. And also, since we are using double chain blockchain technology, our TPS is faster and this can better serve what we need in the future.
Q5:The Glass chain website doesn’t say much about the Glass chain token. Will you be audited on the smart contract? By whom? Can I distribute tokens so that I can invest in the project for a long time? Do you intend to staking or farming tokens in the future?
Yes, our technology has been developed for over 4.5 years, but for the public we are still a newborn baby. We are doing all the process to secure our investors’ money. We are working with Certik with the audit progress. We will have our staking policy soon and right now you can stake GLS on ZB and win 30% APR.
Buy GLS HERE:https://www.zb.com/en/kline/gls_usdt
Stake GLS HERE: https://www.zb.com/en/mining/detail/gls
Questions from telegram:
Q1: How can I buy these tokens? Is it available on any exchange?
GLS is listed on ZB.COM on October 19th.
You can trade GLS here: https://www.zb.com/en/kline/gls_usdt
Q2: Which do you think is more important:
C. Token Price
If all of the above is important to you, which should come first?
Those are all really important to us. I think if we have to choose, that will be our community. Community is our blood to everything. Our goal is to make sure our system is easy to use for our community members and so they can put their NFTs into real use, not just manipulate them by the press.
Q3: Glass Chain will give you a SHOP2EARN experience on Web3.0. What does your phrase SHOP2EARN mean? Is it through shopping that I can collect tokens from you?
Yes, similar to play2earn. We will create the experience of earning GLS by shopping for your essentials like you shop on Amazon. We want to help people get wealthy while they shop.
Through Glass Chain’s DeCom system, you will be able to achieve that. Imagine, you want to buy a phone, if you pay the same amount of money, you get your phone and also a token (GLS) and one day, the token you earned pays back the money you spend on your new phone.
How cool is that? And that’s what we will bring to the world.
Q4: What are Glass Chain solutions against centralization as many other so-called decentralized networks out there are managed by some whales and power pools and it is very easy to manipulate?
Right now, we are only developing the technology but soon we will have our DAO coin that will manage our system by our community. That’s why we keep
anonymous. Everyone will be equal in our system and we want to achieve that by DAO method.
Q5: Currently, most projects and platforms are in English. Do you have a local community to better understand your project?
Right now, we are only in English. But we welcome everyone in our community to transfer our program into their own language and help us grow our community. And of course, anyone who helps us grow will get our community rewards.
To better let the world know us, we hold monthly airdrop events too. Right now we are having our Holiday airdrop event. You can come here to join: https://twitter.com/Glass_chain/status/1472753008437956610