AMA Crayon x GTA Ventures
AMA Crayon x GTA Ventures
AMA Crayon x GTA VenturesPart 1: Introduction
1. Would you introduce yourself to the GTA Trading Community? Your background and why do you create Crayon?
My name is Leon and I am founder and CEO of Crayon. We are a group of serial entrepreneurs, techies, product owners and legal professionals with blockchain experience under our belt. Some of the infrastructure products (Wallets/Custody) our members have architected and designed are currently being used by over 200+ enterprises in Korea including conglomerates like Samsung and Hyundai.
2. Can you describe what Crayon is in a few sentences?
Crayon itself is an NFT focused Dao-as-a-Service platform that provides products and services for DAOs to build community, governance, and manage NFTs with ease.
We treat the journey of each NFT DAO as a Mt.Everest Expedition where Crayon serves as a basecamp. We also have a DAO for Crayon, which basically serves DAOs on our platform as Sherpas — to accompany and guide you throughout the journey from the beginning to end.
With that explanation, CrayonDAO is basically a DAO that exists for DAOs on our platform. Currently we are raising our CrayonDAO treasury via an initial Governance Council raise which you, MH Ventures, are taking a part of. Purpose of CrayonDAO is to provide funding, advisory and marketing support for all the future DAOs up-and-coming on Crayon’s platform.
For this round, we are not taking anything and 100% of your contributions go directly into the CrayonDAO treasury wallet — which you (as CrayonDAO members) will vote to figure out which DAOs you will be supporting in the future.
3. What special things in the Crayon project?
As a CrayonDAO, we provide services from funding, advisory to marketing that involves our DAO members and their networks.
Our goal is to support our DAOs in every stage of their journey. When you’re a starting-out community, it can be difficult to get your voice heard. We understood that, and went to our partners on behalf of you. That means the second you create a DAO, you are eligible to take advantage of our listed partners below.
Simply (i) create a DAO, (ii) float a proposal on CrayonDAO and (iii) get the ‘For’ vote by the CrayonDAO community to enjoy any or all benefits such as
Funding from the CrayonDAO treasury, Advisory from the Crayon’s operating team and community building/marketing support by CrayonDAO’s members providing AMAs, advisory, network and marketing support.
4. Currently on the market are there any competitors?
In comparison to more known direct competitors such as Syndicate and Juicebox, we are focusing so much more on the community building side — very much like an accelerator almost that’s tailored for DAOs.
$CRAY is basically a byproduct of running a DAO to be a client of ourselves and we have experienced both the Syndicate and Juicebox.
Therefore, we understand their Pros and Cons and we are combing the Pros, getting rid of the Cons and focusing on the elements that we think are missing from our direct competitors — and that’s CrayonDAO that funds, advises and supports community building for DAOs that start from zero.
5. Could you tell more about Crayon’s roadmap?
Short — Mid Term
: Use Cases — get very much hands on early DAOs on our platform so that we can have many very successful use cases with our partners/advisors/investors and etc.
: CrayonDAO — get community/DAO based VCs and their communities and reputable brand named VCs to hop on as part of the CrayonDAO community so DAOs want to come to our platform to get CrayonDAO’s attention to bring us in as their initial supporter
Long Term
: This is going to enter into the picture a bit later on the stage. However, we also have a long-term strategy that’s going to involve mainnet, CDP and burn to mint. This is to show that we have a long-term mindset.
6. Can you share with us what is the Crayon token use case?
Staking
Once you stake CRAY, you get sCRAY which serves as the certificate of staking. sCRAY is required to un-stake CRAY.
Governance
sCRAY serves as the voting power on decisions that influence the CrayonDAO ecosystem. By using sCRAY, changes are proposed, vetted and then voted via on-chain governance.
Reward
Reward Engine to vitalize communities of DAOs under the CrayonDAO’s Discord Sub-group.
Gas (Transaction) Fees
Once the main-net goes live, CRAY shall be the gas fees for the use of the Crayon Chain.
Loan Collateral
Through Collateralized Debt Position, CRAY shall be used as a loan collateral to issue stable coins such as USDC.
Part 2: Questions form
Guest selected 5 best questions to answer sent before beginning of AMA:
- All project coins have their main Utilities & real-life usecase! So, Can you tell us what are the main role of your coin in your ecosystem? Explain it’s Utilities & Real-Life usecases? and Why should i invest in your coin for long term?
Utility
Staking
Once you stake CRAY, you get sCRAY which serves as the certificate of staking. sCRAY is required to un-stake CRAY.
Governance
sCRAY serves as the voting power on decisions that influence the CrayonDAO ecosystem. By using sCRAY, changes are proposed, vetted and then voted via on-chain governance.
Reward
Reward Engine to vitalize communities of DAOs under the CrayonDAO’s Discord Sub-group.
Gas (Transaction) Fees
Once the main-net goes live, CRAY shall be the gas fees for the use of the Crayon Chain.
Loan Collateral
Through Collateralized Debt Position, CRAY shall be used as a loan collateral to issue stable coins such as USDC.
In the early stage of the product cycle, we intend to focus the most on the CrayonDAO’s governance side where DAOs are required to stake CRAY to get the voting power named sCRAY to float a proposal where you have to get the majority ‘for’ vote by the CrayonDAO community.
2. How will CrayonDAO generate profits / income to sustain and what is the revenue model? How will it benefit CrayonDAO and your investors?
When it comes to the DAO deployment, we take 5% of funds collected from each campaign. For other features such as the NFT collateralized loan and NFT Rental/lease, we charge fees.
3. What products are the team developing
DAO Deployer
Deploying a DAO on the Crayon platform is broken down into the following steps to make the deployment process as simple and intuitive as possible.
(1) Name of the DAO : This is where you put down the name of your project. We encourage your project name to be intuitive and simple for your contributors to get it right away.
(2) Max Contribution Cap : This is where you choose the asset type (eg.ETH) and the maximum quantity of particular asset type you want the DAO treasury to collect from the contributors.
(3) DAO token ticker : Whether it is a Fungible token or Non-Fungible Token, your token ticker is the short combination of letters that is used to represent your cryptocurrency (eg. BTC is the ticker for Bitcoin).
(4) Duration : How long do you want to make a contribution? This is where you put down the duration of your campaign to onboard members and their contributions.
(5) Number of members you want to onboard : If you want to limit the number of members for any reason, you can set it here.
(6) Type of a DAO : What kind of Decentralized Autonomous Organization are you? Whether it is an investment, social impact or collectible DAO, you may specify it here.
(7) Number of governance tokens you want to issue : You have already put down the symbol of the ticker on the step 3 above, now you want to set up a maximum number of governance tokens you want to issue.
(8) Project description : This is where you put down the summary of your DAO. Keeping it simple and precise will help your message to get through to your potential contributors with ease.
(9) Ticker Image : This is where you upload the image of the token ticker. We encourage you to keep the background transparent in the png format.
DAO Dashboard
Once deployed, DAO Dashboard is a place for you to manage the portfolio of the DAO (On-chain and off-chain portfolios), members and governance. It is broken down to the following elements.
Project (DAO) Description : Name, Description, Type, External Links (Website, Discord, Twitter etc) and Edit (Owner/Admin can edit the details above anytime).
DAO Treasury Status : Days left, Percentage Contributed, Live Status (Available / Closed) and Contribute (When the campaign is live, you can click on this button to be a part of the DAO).
Your Status : Number of Governance Token you have for the DAO
Asset : Displays On-chain portfolio (Fungible Tokens, Non-Fungible Tokens) of your treasury and Off-chain portfolio (eg. Equities, off-chain collectibles)
Members : Displays member information by wallet addresses, contribution amount, DAO token balance, participation time and the time of latest transaction
Governance: Displays the most recent proposals for DAO with proposal ID, Proposer, Status and Agenda with the turnout in percentage.
NFT Management Tools
NFT management tools intend to provide instruments for NFT holders and collectors to access more money market options such as
(i) DAO based purchase, trade, sales of NFTs;
(ii) NFT collateralized fungible token loans and;
(iii) NFT lease/rental.
4. Can you list 1–3 killer features of CrayonDAO that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
In comparison to more known direct competitors such as Syndicate and Juicebox, we are focusing much more on the community building side — very much like an accelerator tailored for DAO building.
$CRAY is basically a byproduct of running a DAO, namely HeritageDAO, to be a client ourselves and we have experienced both the Syndicate and Juicebox with that.
We understand their Pros and Cons — We are combining the Pros, getting rid of the Cons and focusing on the elements that we think are missing from our direct competitors — and that’s CrayonDAO that funds, advises and supports community building for DAOs that start from zero.
5. What is the Best way to follow All your Upcoming news and updates? What are your plans in coming Future?
(1) Telegram: https://t.me/crayon_DAO
(2) Twitter: https://twitter.com/Crayon_DAO
(3) Medium: https://crayondao.medium.com
(4) Discord: https://discord.gg/57kDxuekcq
are our social links for the general channel. We also have a Vietnamese channel supported/managed by our investor from Viet Nam here (https://t.me/crayondaovietnam)
Part 3: Community interaction
- Can you briefly describe your PARTNERSHIP so far and upcoming partnerships?
Animoca Brands, The Sandbox Games, Brinc, Assemble, Tykhe Block Ventures, GTA Ventures, K300 Ventures, AVStar Capital, Halvings Capital, MH Ventures are some of the partners we have at the moment with the list growing each and everyday.
2. While you build your project, do you take into account community feedbacks and demands?While you build your project, do you take into account community feedbacks and demands?
Absolutely, this is the very ethos of the DAO. As a member, you can always float multiple proposals and suggestions to better our ecosystem together.
3. What strategy will you implement to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of your token?
So, this is a virtuos cycle that keeps on building itself. We secure more legacy players with interests in building the DAOs — which in turn is going to help us to form more interaction with the legacy world and players that ends up inviting them to blockchain and web3.0
4. Staking programme is very important for any project, Can i stake your token? Do you have any plan of starting staking programme?
Absolutely, you need to stake Cray token to get the sCray (which is a voting power on our platform) while you get the Cray token as a yield farm
