💬 Daily AMA with Ke'Xu | ONO | Day 5 Recap

In the fifth day of the AMA with Ke'Xu a lot of questions were asked. Don't forget to join the Telegram group and ask your questions.

Join the Telegram group: https://t.me/ONOUS

1.We know the consensus of sidechain, how it interact with mainchain?

Ke'Xu@ONO: ONOcyc will answer technical questions: There will be a message bridge between mainchain and sidechain.

2.Will ONO mainnet use ONOT as the native(system) token and will RAM price mechanism the same as current EOS mainnet using Bancor algorithm.
Tried reading the whitepaper but can't find the info on the above?

Ke'Xu@ONO: ONO will use ONOT as system token.

3.If superpartner don't spend ONOT to collapse content, why they are rewarded with 10000 ONOT each day which seems an huge amount?

Ke'Xu@ONO: They won’t get 10000 ONOTs a day, I think we already wrote it in the white paper. Super partners will do huge work on that and these works are valued.

4.Once we have our invite code, can we open more than one account with it (one for personal, one for business for example. Or one with KYC, one without...

Ke'Xu@ONO: ONOcyc will answer: We use KYC. Everyone need to do KYC first then join ONO. One email for one ONO account.

5.Will it be possible to run private communities on ONO (like the closed or secret groups on Facebook)? Are the posts within those communities also incentivized (that would be so awesome for community engagement and I would move my community to ONO immediately!)

Ke'Xu@ONO: Later we will have more functions. We will publish ONO product plan on the website so that everyone can see what’s the next we make. But still need every supporters’ of ONO understand us that we only have few people now. But we will work harder on that.

6.Once we have active accounts will there be a referral bonus for inviting friends?

Ke'Xu@ONO: Yes. You will get.

7.ONO company have a certain amount of ONOT. They can cashout or they are locked?

Ke'Xu@ONO: We will not cash out our ONOTs. Our team’s ONOTs lock plan is 4 years, unlock 25% per year. Yes. Logically we can trade ONOTs after 1 year. But our account will be transparent and we promise that we won’t cash out unless we can’t afford the operating budget for running ONO. And community can vote through the referendum.

8.And from partners too? Or are they immediately unlockable. Is this about the 20 Billion for founding team. Or the 35 from Co-Founders / Devs or 20 Billion from ecosystem?(just for clarity sake)

Ke'Xu@ONO: 35b is for investors ( since we are using Dutch auction, it’s not locked). Only lock 20b for team.

9.People ask to know about the exchange ONOT/fiat (or ONOT/ETH), when it will be possible?

Ke'Xu@ONO: Few months. We can’t make sure right now. But we are preparing for that.

10.Five years later, not to start the destruction mechanism, it is suggested that 10% of the 5 billion of the destruction (vote decision) be taken out for auction, and the Holland auction proceeds to do global public welfare (mainly to support the third world, disaster, war and so on). Appropriate can be added in the next version of the white paper destruction clause. What's your opinion?
Or the coin that destroys the pool can't move. Use the sealed and folded coins for the ONO public service.

Ke'Xu@ONO: I don’t have any opinions. And I won’t suggest any for the community. I respect the final decision that community made through the referendum

11.Since SP are the loyal memebers of ONO, do they have to follow any rules/regulations regarding the financial activity like any maximum limit for them to cash out their ONOT in a month?

Ke'Xu@ONO: We are drawing up the relevant basic constitution. There will be a lock mechanism. But the details of the lock mechanism will be decided by community (including SPs themselves). we respect voting and community decisions, and we will give the community the biggest freedom.

12.Basically the ONOT available for 'regular social media users' is the 5 billion per year right?
versus the 75 billion owned by Investors, Core Team, and the Ecosystem fund.

Ke'Xu@ONO: It’s true. Because 1. ONOT is not only for the social network, it also related to all the ecosystem of ONO ecosystem( including mainnet and other dapps). 2. In fact, this is just an early state. Why did users get a small percentage of token in early stage? Because users spend less to get token than the investors or developer team, and the attention value has not yet been commercialized by advertisers.
When the attention value is commercialized by advertisers, advertisers buy onot in the market for advertising. The commercialized part of onot will flow into the OAA pool(burn pool) or be airdropped as dividends to all onot holders. Long term holders (whether investors, builders or creators) will gain more and more benefits.
It is worth mentioning that investors have investment limits. There is no early big whales that destroys ecosystem.

13.I've read that 75 Billion Onot will become available at launch. This 75 billion Onot will be distributed as followed:

20 billion ONOTs (26.7%) - Founding Team
35 billion ONOTS 46.7%) - Cofounding Partners
20 billion ONOTS (26.6%) - Ecosystem Incentive Pool - for keynote partners, cooperation partners, and outstanding developers who make contributions to the ONO social media network
Which is 75 billion = 100%.

Then annually 5 Billion (6.6% inflation) ONOTS are to be printed for the general public.

My question is twofold:

1. Is the above data correct?
2. Is this distribution not against ONO's core principle about "everyone being born equal and believing in equality" - Chapter 1 whitepaper?

Just curious about this and I hope you want to ask this to the CEO!
I'm am just being criticizing because: Based on the whitepaper and initial distribution: i have a feeling that much of the ONOTs will be in the hands of small parts (an elite). They will decide how the network will evolve. However, the actual value is created by content makers but they only will get 6% of the total ONOT pool to "play" with (as a reward).

Ke'Xu@ONO: 35billion will be sold to investors and it’s distributed. 20billion will be locked for the developing team(Just imagine, if Ono has 1 billion use, the operation cost of Ono will also become very high. It includes: 1. manpower cost (at least 2000 employees) 2. hardware cost and site 3. operation promotion cost and other cost. Another 20billion will be used to invest for ONO ecosystem. And if the ecosystem get revenues, the profit part will be given to all onot holders
All the using of ONOTs will be transparent.

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Previous posts from the AMA with Ke'Xu:

💬 Daily AMA with Ke'Xu | ONO | Day 1 Recap

💬 Daily AMA with Ke'Xu | ONO | Day 2 Recap

💬 Daily AMA with Ke'Xu | ONO | Day 3 Recap

💬 Daily AMA with Ke'Xu | ONO | Day 4 Recap

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If you have any questions for the AMA next time, please send them on Telegram to the host of the day and not direct in @ONOUS.
If there are any mistakes in what i wrote place let me know so i can correct them on time.
Picture source: Twitter
Official website: https://www.ono.chat

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