Missed out on our AMA? We’ve got you covered — Read on to catch up!
On the 7th of December 2020, we had the opportunity to join Tehmoonwalker Crypto Channel for an AMA. With an oversubscribed number of users and questions, we knew we had to have this shared for those who had missed it.
We hope you learn a thing or two about our project and know that we will be having ongoing AMA’s coming; but for now, sit tight, and enjoy our recap
Tehmoonwalker (admin)
please be so kind and introduce yourselves and talk about your roles in the project
Nathan Varty (CEO)
Hi, my name is Nathan. I’m the CEO of SpiderDAO, the world’s 1st hardware-governed DAO. I am an experienced entrepreneur who specialized in IoT development and operations. I have been successfully overseeing SpiderVPN since early 2017.
1. What is SpiderDAO, why do we need it, what does it solve, and how does it work?
Nathan Varty (CEO)
SpiderDAO innovates the DAO concept by introducing a dual-governance model that bundles together hardware and software tools with on-chain elements, providing a “whale-resistant” governance solution. SpiderDAO increases privacy and security while browsing the internet, and also helps with unrestricted access to geo-blocked content. Needless to say, it also solves the democratic voting problem by allowing each user to vote only once, regardless of the number of tokens the user holds. — Nathan
2. So it’s a governance solution, a VPN, and a privacy solution?
Nathan Varty (CEO)
Yes, correct it’s an all-in-one solution. We bundle everything together. But we didn’t just stop there we added a multi-layer privacy solution where you are not only secured through the DAO but also your home network is secured with our dVPN and ad blocking. Of course, all your data would be encrypted through dVPN to ensure that all your network traffic is secured when leaving or entering the home network
3. how does it connect and interact with other blockchains or tokens?
Nathan Varty (CEO)
The routers will connect to the Polkadot ecosystem. In the later stages, we are planning to build a bridge to Ethereum
4. What are the requirements for a retail user? and what are the costs?
Nathan Varty (CEO)
You will need to have a spider router and SPDR Tokens. For the people that participated in the private sale, they will receive a free router if they invested at least $2000, for others that will join us in the DAO later, it will be about $60 + shipping. Also, watch out, we will do some very attractive router giveaways
very soon
5. Is the router compatible with most network providers?
Nathan Varty (CEO)
Yes, the router is compatible with most network providers.
6. Let’s talk about the token, what is the benefit of holding it? and what can I do with it?
Žiga Flis (Co-Founder)
There will be various benefits to holding the SPDR tokens, early on you will be able to participate in our LAU concept (liquidity as utility). You will obtain voting rights inside of the DAO which will first be present in the form of a discord channel, but will later evolve into the Spider Dashboard — this where actually many of the features will enter the market and will also give the ability of a bandwidth monetization which will allow you to make passive income with the help of a router.
7. How does it work with Social media, youtube, etc because they always find a way to get you to remove adblocker, Bad quality, video restriction, etc…
Anas Sayed (CTO)
Yes our solution have different algorithms that take care of the ads, tracking, malware, and so on, Regarding some social media platforms mainly Youtube, We are always trying to keep up with their algorithms so we can block the video ads
8. Wow, impressive, does the router also detect incoming Malware?
Anas Sayed (CTO)
Yes that’s correct, We also have cloud-based lists so we can keep our algorithms up to date
9. That’s very ambitious, what makes you think you can achieve this all?
Žiga Flis (Co-Founder)
We have a very experienced team of developers that have worked with tech leading companies in the past including projects with a multi-million customer base, so we are confident that we can achieve our goals.
10. what about partnerships, and can you disclose any yet?
Nathan Varty (CEO)
Currently, we can’t disclose any of the important partnerships as most are under NDA, but we will be disclosing them over the course of the next few months, each partnership will affect the project in a beneficial way that would be aimed towards improving our technology.
We can see a huge interest in our project and select partners very carefully. Be sure we are very active on that end though.
11. There are many VPNs that are available and work fine in the current market, why is the decentralized VPN SpiderDao platform better than centralized? What are the extra benefits of decentralized apps rather than centralized?
Žiga Flis (Co-Founder)
The decentralized VPN increases the user's security and privacy compared to using a centralized one.
12. Most VPNs are capping speed while using them! How does SpiderDao solve this problem?
Anas Sayed (CTO)
We are going to do VPN bonding techniques so you can have the best speeds your broadband can achieve and we already got customers who achieved 700+ Mbps.
13. @SpiderCEO How does bandwidth monetization works for the users?
Nathan Varty (CEO)
We will have multiple options to earn SPDR these included;
Stake LP tokens and gain reward in our utility mining program. 60% of the token supply is available and up for grabs, early adopters of this will be able to get some very nice rewards.
Sell your Bandwidth in the SpiderMarket you will have the ability to turn your router into a node and create a passive income while you sleep. We will also be offering community incentives for hosting nodes and validators as we expand our network.
We also have future plans to do cloud solutions which you can benefit from if you have any unused storage we can use.
14. Can anonymous transactions be performed on the SpiderDao network?
Žiga Flis (Co-Founder)
At the moment we are not including that feature.
15. Smart contracts are vulnerable to bugs, and even recently three big new Defi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?
Žiga Flis (Co-Founder)
Our smart contracts will be audited before the release by a respectable company. There will be an announcement made about it soon.
16. What is the structure of this project, is it decentralized or an open-sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?
Anas Sayed (CTO)
It’s a decentralized open-source protocol as one of our top priorities is for our community to take part and contribute to our vision for a better, secured home network.
17. Can the SpiderDao app use the traffic log feature to detect suspicious or malicious data used on devices?
Nathan Varty (CEO)
We have DPI filters on the router to make sure suspicious or malicious traffic is going through your home network without anyone else tracking or logging your traffic — Anas
The said feature is on our developer plan and it’s being tested currently as we speak, so it will be added to the routers in the near future
18. Which countries can use SpiderDao VPN service and What about countries that prohibit the use of VPNs? Do I feel safe using SpiderDao?
Anas Sayed (CTO)
The SpiderVPN services can be used around the globe including China with very high success against their great firewall without you being noticed that the traffic is going through a VPN tunnel, It’s very safe to use it as well as all traffic is encrypted on both entry and exit points of access and only decrypted on your router.
19. If a router and SPDR give you one vote in the SpiderDAO, are there any direct benefits of holding a lot of tokens?
Žiga Flis (Co-Founder)
Yes, there’s a benefit of holding the tokens because it essentially gives you more opportunities to use them for all of our features.
20. If I understand correctly, SpiderDAO’s DVPN uses WireGuard protocol? Could you explain their approach to encryption?
Anas Sayed (CTO)
We are doing end-to-end encryption at both ends including ChaCha20, Curve25519, and other encryption protocols to secure every aspect of your network packet traffic.
21. What mechanism will #spdr use to attract investors? What factors enable later investors to actively join in and believe in a long-term project, thereby further promoting ecological development?
Nathan Varty (CEO)
Our primary focus to attract future investors would be a deeper focus on the spider ecosystem that brings many features to the table, which makes it interesting for the users. Further down the line, we wish to bring bandwidth monetization which should really help the less developed countries where access to the internet is still very expensive. It would allow them to essentially find potential cheaper options. Thus making it interesting for the Seller and the Buyer.
22. how do we calculate the unused bandwidth in order to sell it? and we sell our bandwidth to whom in the Spider market?
Anas Sayed (CTO)
We will give our users the ability to set the maximum on Down/Upstream directions speeds and the maximum bandwidth can be used as well on a weekly/monthly basis so you can have peace of mind and not getting annoyed by how much traffic is being taken from your connection to the other users, We will also make sure that we prioritize your traffic to be served first.
23. What is the use of the $SPDR token in the SPIDERDAO and VPN ecosystem? Does $SPDR also have a staking feature?
Žiga Flis (Co-Founder)
You can use the token for various features that will be available on our SpiderDashboard and it acts as a spider ecosystem and we don’t have a staking feature, but we do have an LAU feature instead.
24. Has the SPDR token already been minted and if so, what is the contract address?
Žiga Flis (Co-Founder)
No, the token generation event has yet to happen, this is planned within the next week or so.
25. What are the milestones you have achieved so far and about your upcoming plans?
Žiga Flis (Co-Founder)
Our streamlined robust team is experienced in dealing with hire pressure situations. We move into the critical stages in the next Q1. We will be drawing on every aspect of our experience. Our Strategic private dale was an overwhelming success being oversubscribed within 24 hours which was amazing. In the next week, we will be initiating our TGE. Once this has been completed we will be moving into the release of the Utility mining release within hours of the TGE. As we now have access to the substrate builders program our main focus will be to get the DAO development up and running and communicating with our SpiderConnect Routers. We have also forged many critical partnerships with many key crypto projects in the past few weeks but we are not quite ready to announce these soon, that being said we are still happy to explore any more strategic partnerships as they arise.
The winners to the best Questions where :
1st @Pabloescobardon
2nd @crying_b_oy
3rd @Eric_High
They all Won a SpiderConnect Pro Router.
Congratulations !!
About SpiderDAO
SpiderDAO proposes a set of tools bringing privacy and security to today’s and tomorrow’s internet users.
To do so efficiently and sustainably, SpiderDAO’s team set a robust new standard for DAOs that will withstand the adversity that such a mission implies.
To mitigate the shortcomings of current DAO frameworks, SpiderDAO leverages a multi-layered governance setup based on hardware and software tools on top of a Fair & Resilient Hardware-based DAO built on Polkadot.
Learn more about SpiderDAO:
Visit our website: www.spiderdao.io
Join our telegram: https://t.me/SpiderDAO
Join our Discord: https://discord.gg/freymYYspb
Documentation:
Our one-pager: https://assets.spiderdao.io/SpiderDaoOnePager.pdf
Our Pitch Deck: https://assets.spiderdao.io/SpiderDaoPitchDeck.pdf
Our Whitepaper: https://assets.spiderdao.io/SpiderDaoWhitepaper.pdf
