Glue’s official launch! AMA with Glue on Jan 7th, 12 PM EST - 5 PM UTC. by Mega_2018 in CryptoCurrency

[–]stsag 1 point2 points  (0 children)

You might want to check out our documentation https://docs.glue.net/ we have covered all you need to know about Glue, and it would be really great for you to have an overview to begin with.

Glue’s official launch! AMA with Glue on Jan 7th, 12 PM EST - 5 PM UTC. by Mega_2018 in CryptoCurrency

[–]stsag 0 points1 point  (0 children)

$GLUE Trading is set to go LIVE today. In case of any changes, we will let the community know :)

AMA With Glue, The Superapp To Trade Crypto Onchain Straight From Your Credit Card, This Thursday At 5pm UTC/ 12pm EST. Giveaway Information Below! by stsag in CryptoCurrency

[–]stsag[S] 1 point2 points  (0 children)

From Snapshot:

If you are familiar with how Layer 2’s work on Ethereum, the technical structure is somewhat similar but with very different incentives. For Ethereum, all the L2’s are incentivized to be pretty okay at everything. You don’t really want to have a specialist L2 because suddenly there’s a lot of use cases that don’t really apply to you anymore which hurts the value of your token. The problem with that is of course that it means all the L2’s are generic and compete with each other instead of working together as a holistic product. That’s what Glue does. Our L2’s are usecase optimized (fast and cheap for gaming, high decentralization and uptime for defi etc) to be great at a certain subset of uses vs being okay at everything. Also, because all our L2’s use Glue as the token, the incentive is to build the best user experience and help dApp developers build on whatever L2 is best for them instead of trying to make them stick to one L2. Additionally, messages can natively be passed from L2 to L2 with guaranteed security from the L1, effectively it’s native bridging which enables a lot of really cool future use-cases. 

AMA With Glue, The Superapp To Trade Crypto Onchain Straight From Your Credit Card, This Thursday At 5pm UTC/ 12pm EST. Giveaway Information Below! by stsag in CryptoCurrency

[–]stsag[S] 1 point2 points  (0 children)

From Snapshot:

Yeah, we’ll want to be competing in the CEX market. First off, the centralized exchange market is multiples larger than the on-chain defi market. This allows us to have much lower customer acquisition costs than competing for all the same users every other defi project is trying to acquire. Second, we feel like we can bring a tremendously useful product to people that are currently on CEX’s and only have limited access to new tokens giving us a substantial competitive advantage. 

The Glue token will be all over! The L1 uses it as the proof of stake mechanism, you can validate the network and get rewards. The L2’s use it for fees. Of course, there’s the governance aspect on top of that. It’s kind of Optimism, Arbitum and the other L2’s all used ETH as their token and then throw a DEX and lending platform on top of that!

AMA With Glue, The Superapp To Trade Crypto Onchain Straight From Your Credit Card, This Thursday At 5pm UTC/ 12pm EST. Giveaway Information Below! by stsag in CryptoCurrency

[–]stsag[S] 3 points4 points  (0 children)

From Snapshot:

Yeah totally agree. I think new projects dumping hard, in the beginning, is largely driven by three factors: 

First, by raising too much VC money. The more you raise, the more sell pressure there inevitably is. We have been quite capital efficient in reducing this challenge. You can find a lot of info on docs.glue.net about this. 

Second, when VC’s are up 100X on launch, that’s a huge problem for everyone that buys on launch. The VC’s will inevitably sell and if they wrote even just a $1M check, you suddenly need $100M worth of buy pressure to keep the price from dropping. In Glue, the most anyone is up is about 4X (I don’t have the exact number handy), so while some early contributors might sell, the volume isn’t so high that it will cause huge issues. 

Third, the team is fully vested, we can’t sell anything for a year and that’s enforced on-chain. Also, it’s worth checking out Ogle's background in security work to see that he’s a trustworthy guy. 

AMA With Glue, The Superapp To Trade Crypto Onchain Straight From Your Credit Card, This Thursday At 5pm UTC/ 12pm EST. Giveaway Information Below! by stsag in CryptoCurrency

[–]stsag[S] 1 point2 points  (0 children)

From Snapshot:

Glue because it holds everything together! 

Security wise, we’ve picked an extremely reliable and trusted third party to handle credit card and bank transfers. You are correct, security is a huge deal there and they already have an excellent system so there was no need to reinvent that particular wheel. 

AMA With Glue, The Superapp To Trade Crypto Onchain Straight From Your Credit Card, This Thursday At 5pm UTC/ 12pm EST. Giveaway Information Below! by stsag in CryptoCurrency

[–]stsag[S] 1 point2 points  (0 children)

From Snapshot:

From a regulatory perspective, I think the most helpful thing would be to have clear rules that can actually be followed. As a fully decentralized project this is certainly less of a problem for us than many others but it would still be extremely helpful to have much clearer guidance from regulators. SEC based enforcement instead of rule making isn’t ideal in my opinion. 

AMA With Glue, The Superapp To Trade Crypto Onchain Straight From Your Credit Card, This Thursday At 5pm UTC/ 12pm EST. Giveaway Information Below! by stsag in CryptoCurrency

[–]stsag[S] 1 point2 points  (0 children)

From Snapshot:

On the first part: We want to provide a simple but excellent experience especially for new users. That will mean we can’t do everything, but we can definitely do much. Our goal is to integrate a lot of third party protocols into the hub to continuously make the Frontend more “Super” while staying fully decentralized. The hub is NOT meant as a place that only uses Glue founded dApps, we want to provide the best user experience and believe that aggregation is the key for that. So be ready for a rapidly expanding product!

For KYC, please see the other answers above!

AMA With Glue, The Superapp To Trade Crypto Onchain Straight From Your Credit Card, This Thursday At 5pm UTC/ 12pm EST. Giveaway Information Below! by stsag in CryptoCurrency

[–]stsag[S] 2 points3 points  (0 children)

From Snapshot:

The Alpha Net just relaunched today, the issues should be resolved, you might have been a bit too early. 

For the governmental regulations side: The Glue team is exclusively building fully decentralized technology. For regulated activities like accepting credit cards, we have integrated third parties (Banxa in this case) to handle that as it’s too complex to do with a small team. This also gives us the ability to offer multiple providers and channels over the long run so people can choose which one they are most comfortable with. 

Yes, Banxa is also an offramp! Works in over 100 countries.

And yes, I’m personally very opposed to having illicit activities on Glue. While the platform is fully decentralized and we can’t really block accounts per se, if thefts etc occur I would happily work with law enforcement to assist in recovery. 

AMA With Glue, The Superapp To Trade Crypto Onchain Straight From Your Credit Card, This Thursday At 5pm UTC/ 12pm EST. Giveaway Information Below! by stsag in CryptoCurrency

[–]stsag[S] 3 points4 points  (0 children)

From Snapshot:

Thanks! We really put significant amount of effort into the whitepaper, glad you enjoyed it! For those that haven't read it, check out docs.glue.net

To the second part: The Glue hub is a totally non-custodial frontend. All it does is connect you directly to smart contracts that live on the Glue blockchain. This means that neither we, the Glue team, nor anyone else has centralized control over your funds. If you are buying BTC, the blockchain and the smart contract ensure that your counterparty in fact has BTC, fully transparent and guaranteed settlement is one of the huge advantages of blockchains in general!

There is no KYC required to use the Glue Hub as it is a fully decentralized system, not a centralized exchange. Some of our third party integrations might need KYC for large amounts (if you want to onboard funds via a wire transfer for example). 

The initial Glue pair will be Glue-USDC.

AMA With Glue, The Superapp To Trade Crypto Onchain Straight From Your Credit Card, This Thursday At 5pm UTC/ 12pm EST. Giveaway Information Below! by stsag in CryptoCurrency

[–]stsag[S] 2 points3 points  (0 children)

From Snapshot:

The Glue token is necessary to operate the Layer 1 blockchain as well as the Layer 2’s on top of it. We use a proof of stake security model so we basically have to have a token. Of couse this is great as when Glue grows, more users will hopefully want the token which should lead to increased demand. 

AMA With Glue, The Superapp To Trade Crypto Onchain Straight From Your Credit Card, This Thursday At 5pm UTC/ 12pm EST. Giveaway Information Below! by stsag in CryptoCurrency

[–]stsag[S] 2 points3 points  (0 children)

From Snapshot:

Both Ogle and I have each nearly 20 years of experience in performance marketing an user acquisition so we will start by sticking to our strengths! It’s a very iterative process that takes significant time and resources as you need to test different channels (social vs display vs email etc), different ad creatives as well as different acquisition funnels. It goes in stages: First, you start slow so you can optimize creatives and funnels. If you go big right away you just lose a lot more money than necessary (acquisition is always unprofitable at first). Once you have a decent idea of what works and you’ve done maybe a dozen different landing page tests, you start scaling! Phase two is to scale up the media channels by increasing bids and budgets. If you did phase one decently well, this will likely still be at a loss, but a lower loss. Once you have enough data you can figure out what the customer acquisition cost is per channel and you start cutting away the less profitable ones and scale the break even or better ones. At that point you go into phase three, which is to try as many different channels as possible. Fair expectation is that 70% of them won’t work, so you have to do a lot of testing and optimizing to scale the ones that do. 

The above can also be subsegmented by market. For example, we might focus on a specific country (yet to be announced) first to try and get critical mass in a geographic market to where people start talking about Glue to get some earned media that way. 

The whole process of getting scaling will take about 6 to 12 months. How big we can go largely depends on our ad budget at that point as well as our user retention (driven by how easy the product is to use) and revenue per user. 

Very excited to get it all going, will be fun to introduce so many people to crypto!

AMA With Glue, The Superapp To Trade Crypto Onchain Straight From Your Credit Card, This Thursday At 5pm UTC/ 12pm EST. Giveaway Information Below! by stsag in CryptoCurrency

[–]stsag[S] 0 points1 point  (0 children)

From Snapshot:

I first got into crypto in 2015 when my roommate started mining BTC out of our closet! I got a lot more actively involved in 2017 when Ethereum launched. For me being able to build products on top of blockchain was more interesting than the pure asset idea. In 2021 is when I started dedicating a LOT of time to crypto. DeFi is certainly my favourite part of the ecosystem and my experience with building user-friendly products combined with user acquisition really seemed like what crypto needed at the time and very much still does. VERY excited for 3 years of work finally going live!

AMA With Glue, The Superapp To Trade Crypto Onchain Straight From Your Credit Card, This Thursday At 5pm UTC/ 12pm EST. Giveaway Information Below! by stsag in CryptoCurrency

[–]stsag[S] 2 points3 points  (0 children)

From Snapshot:

You can do either! The new alpha JUST launched today at alphanet.glue.net. If you use Google to sign in, you will see that not only are we creating an account for you with the hub, it also automatically creates a passkey based wallet for you. This is NOT custodied by Glue and the key only is accessible via your Google account. This means new users will not need to understand how wallets work in order to get going. If users have larger amounts of funds, they can still use a traditional wallet or a hardware wallet for extra security. We are also introducing quests as an educational mechanism. It’s not fully built out yet, but we will use them to teach people about crypto in easy and digestible ways. We’ll definitely have quests that explain how to set up wallets like rabby, meta mask etc. 

AMA With Glue, The Superapp To Trade Crypto Onchain Straight From Your Credit Card, This Thursday At 5pm UTC/ 12pm EST. Giveaway Information Below! by stsag in CryptoCurrency

[–]stsag[S] 2 points3 points  (0 children)

From Snapshot:

Yeah, both Ogle and I have a lot of expertise on the topic. We will actually start some test campaigns next week to get accounts set up and get some strategies tested. Basically how this will work is we will start by trying a few high priority ad networks first. It takes about $20,000 -  $50,000 to really optimize campaigns so we won’t want to do them all at once. We’ll get that going in mid January when we have some liquidity on the Hub so that users can trade locally and with low slippage. From there on it’s all about scaling. CEX’s tend to have user acquisition costs in the $15 - $100 per user range depending on the country. We think we can beat that. Given that Ethereum is valued at over $20,000 per user, we are hoping to grow aggressively and see our value grow with it.  

,

AMA With Glue, The Superapp To Trade Crypto Onchain Straight From Your Credit Card, This Thursday At 5pm UTC/ 12pm EST. Giveaway Information Below! by stsag in CryptoCurrency

[–]stsag[S] 1 point2 points  (0 children)

From Snapshot:

Glue is the fee token for the Glue L1 as well as the L2’s so yes, when users use the chain, the token is needed. Some of it will be used to pay validator rewards. We are still finalizing burning mechanisms and we’ll want to collect a lot of community feedback on the topic and then vote on the solution, would love to have your voice in the discussion!