Ofero Network`s FAQ!
Our focus and our vision is to let people discover the project by themselves. (Make their on DYOR -> Engage in the community -> Ask questions -> Become curious.)
Is there a video or article for the idea of the project? I prefer to watch/read such summarized videos/articles.
Unfortunately, we just can’t summarize the whole project in one video or an article, so we urge you to check our official site https://ofero.network and any questions you can ask us live on t.me/oferonetwork
I have been validated a few weeks ago and currently sight stake my tokens. Do I need to do anything else at this time, please ?
You can relax and count the rewards which are coming at the end of every month from sight staking, or you can migrate your tokens on the BSC Blockchain. Can go to https://ofero.exchange and at balance you’ll see the rewards gathering by second.
It is in plan, things are prepared, we already had discussions with a few, some of them contacted us for listing, but at this moment it is postponed due to this bear market. We saw a lot of projects listed on new DEX/CEX, and they had a peak and went down badly, so it isn’t a good time now.
At this point there are 3 official telegram groups, all of them are international and official language – English:
Quarry project is live! And already first Real world profits distributed through staking for validated wallets were released.
Yes, there will be a major public event held in Q3 according to our Roadmap. Team is working on it, we can disclose any other insights at this point.
The slippage on OFE/WEGLD could be better. Do you have any plan to encourage adding liquidity to OFE/WEGLD pair?
Adding liquidity is a two bladed sword, we made our calculations and for the moment is enough.
Currently, the team is expanding in each section. We are working to cover each section as good as we can.
Here I see that for migrating $OFE tokens to BNB, you have to be a validated, and you have to contact the Ofero team for that. I think it's easier if you could do it yourself, my question is whether in the future we could validate on our own or continue with the team?
Your intuition was right. Peer to peer validation will always be an important part of being a Validator, but starting from 1st of February 2023, users can also validate themselves through the Aegis. Please check the link below for more info: https://ofero.network/the-aegis/
The Ofero token ($OFE) is built on MultiversX POS (Proof of Stake) Blockchain. Why did you choose MultiversX blockchain?
We choose MultiversX because it’s one of the best blockchains in the world, the team is very supportive and responsive, and we have a lot of documentation at our disposal. They always keep an eye on the security, and they proved to be one of the safest in the world. The code on ofero.exchange was developed from scratch on a new technology called Svelte. This helped us to create the fastest DEX in the world according to pagespeed.web.dev creating it simple and fast and making it user-friendly
Yes, $OFE will be a multichain token. We’re launching on BNB Smart Chain on 7th April. Next blockchains are yet to be disclosed.
How does the project increase token value, liquidity, and utility? So it can lead to a token price increase?
First, ofero is looking to integrate real life assets with blockchain technology. For example, our project – The Quarry (that is already working, a company in real life and the rewards from which just got distributed at the end of 2022), the green energy park, real estate developing and ofero.ro platform. Ofero project is looking to increase its token value by using it (increasing the number of holders) and growing its utility in real life by adding even more projects.
How and where did you came up with the idea o making this project? Please tell us how hard you struggled to bring the project to such a high level or how many times you failed?
We were blockchain enthusiasts for a long time, and we’re living our dream, developing this amazing project. Honestly, we’re struggling a lot. Every day is a new battle. Sometimes we win, sometimes we lose. But we never surrender.
Swap and DEX has lost a lot of capital during bear market, do you think once the bulls come all the money will come back to Swap and DEX again, or it can be a risk that you are able to cover?
Ofero.exchange was built in the bear market, so it does not apply.
What steps you are taking in order to engage more and more community in your project, especially during this bear market?
Building new products, adding new features, keeping very close with the community. We build it and holders will come. The best marketing is the experience our holders have in our ecosystem.
We have an innovative staking system called Sight Staking. You keep your $OFE tokens on your wallet and you will receive the staking rewards monthly. This staking option is available only for the validated wallets and for the Validators.
Staking is the new trend. What staking options are available for $OFE tokens? Are there any incentives for staking? What are the various ways to earn $OFE tokens, and are there any limits to the amount of $OFE I can earn?
We have an innovative staking system called Sight Staking. You keep your $OFE tokens in your wallet, and you will receive the staking rewards monthly. This staking option is available only for the validated wallets and for the Validators.
Are you planning to promote your #oferonetwork project in countries/regions where English language is not so used? Do you have a local community for them to better understand your project?
Yes, we have in plan to promote to US, Australia, Europe etc. At this moment the telegram channel just god divided in different language communities.
OferoNetwork is releasing a DEX equipped with a unique design Swap (independent), right? If so, what is your competitive advantage over other platforms in MultiversX like UniSwap or PancakeSwap in BNBCHAIN? Are you planning to include also Products like "Limit Orders", NFT Marketplace or another innovative product?
Our exchange performs, at the momen, a simple swap function on MultiversX, and it is the fastest DEX in the world according to pagespeed.web.dev . The Limit Orders is not possible yet live on the Blockchain technology because it requires the user to sign the transaction. Our own NFT marketplace is available on ofero.market, but still under development.
Why does it have to be a validated wallet to receive the 8.4% APR rewards? Why not all accounts are entitled to the same rewards even if they are not validated, and why should they be validated?
The Validation platform gives the privilege to validated users to vote, to migrate to BSC, to have a word in our ecosystem, to get sight-staking without bonding. It is an alternative long term KYC to protect the ecosystem. You can be Validated by the Aegis and skip the peer to peer validation.
Everything we create is on Web3.
After launching the Aegis, the exclusivity of the Validators skyrocketed.
Ofero Network goals for the next 5 years are: 1mil addresses and 1 billion dollars market cap.
As a Validator, you will be eligible for Validation rewards of 3.6% APR from all the validated wallets. Voting, signing transactions, migration to other blockchains.
Which genre of projects will you guys partner in the upcoming months and let them use your launchpad platform?
We will accept projects with common ground, and that is the real life utility and application.
Probably will remain the same 3.6% from the validated wallets.
It is easy to do it on every platform, Apple, Microsoft, Android, etc…
Is there a way to prevent aggressive dumping ? Some program of buy back specially for the validators?
Something like this is in work, but first we must finish insurance, Aegis, migration.
I checked the wallets of some people from the team before the day of revealing the salaries, and saw that some of them do not have in their wallet Ofero, is that because they have other wallets, or they got salary in Ofero and sold it?
Few sold, you can check on the explorer, few didn’t get them yet. These are only the salary wallets.
What have you learn in this year of building on Ofero? What do you consider the 3 most important lessons you've learned and what you could have done better from the beginning?
That if you deliver what you promise, you will succeed.
- More face to face interaction with the community.
- Bring more people in the team
- More and better communication with the community.
Functionally and technically yes, emotionally we were born prepared.
That they are making a very good investment.
No. We have our own staking system, created entirely by us.
Binance sounds good, but until the listing, the foundation of trust in the project must be built for those who are already here, in order not to sell and dump the tokens at the listing.
Those who will migrate to BSC will definitely sell up to the price on xExchange, then through arbitrage the price will be equalized.
oferolaunchpad.com - how we will be able to participate and with which tokens the new tokens will be purchased?
Any project voted by the OFERO community, but with common ground, and only with Ofero token.
Is it possible to build a hub in which whoever wants to participate can deposit a certain amount, and you have traders to manage this hub, and the profits are divided proportionally to the amount deposited?
Not for the moment. But a different idea is in the work, we can’t disclose more at this moment.
Have you considered applying for a sustainability certificate, which would show all partners that the entire activity is carried out with the best thoughts for a green and unpolluted environment?
At the moment, we consider this irrelevant to our project. Because it is not necessary.
This link will get you to our roadmap – https://ofero.network/roadmap/
This link will get you to our team – https://ofero.network/team/
Regarding the migration of $OFE to BNB, there are validators who have a little over 50k $OFE, if they migrate more than this amount and fall below the 50k level, what happens? Do I lose the right to be a validator?
The validator right is not lost if, after the migration, less than 50k $OFE remain in the wallet that performs the migration. The reverse is also true, if you first migrate 50k $OFE, you have the right to become a validator. But if you sell the tokens and you will remain with less than 50.000 $OFE you will loose the validator rights.
Have you thought of producing wine, cognac, liqueur or other products that can be customized according to the wishes of the investor.
We hadn’t thought of this. However, we invest in projects that are easy to manage, to produce drinks from scratch requires investment and know-how. I don’t think it fits us at this point.
We all know Ofero is investing in a solar electric panels project, have you thought about having one on wind turbines as well? Or more profitable are micro hydropower plants mounted on rivers! Would you consider it?
Regarding the photovoltaic park, it is under discussion considering the chaotic changes in energy. Regarding wind turbines, they require a large investment to produce, and the location and wind is key for such a project to be functional and profitable, this creates difficulties in managing such a project. The hydropower plants installed on the rivers also require a large investment. To start one from scratch, with the purchase of components, installation, landscaping, land rental, even taking an older one and refurbishing it requires large sums. As an idea, a small to medium size turbine starts somewhere between 800k – 1 mil. Euro. Same as in the case of wind turbines, the location must ensure a sufficient flow of water so that it produces 12 months a year and does not affect the ecosystem, capturing all the water supply. Obviously, everything has a solution. With time, the right team and capital, everything is possible!
Is it in Ofero's plan to enter the stock market by purchasing shares in energy companies, for example: hydroelectricity, petrom, transgaz, etc., which generally offer dividends, and which will become a benefit for both the project and the holders?
No, it’s not in our plan. The legislation in this field is not regulated at the moment. What is important to mention is that we cannot invest in all areas at once, we must analyze the areas very well and be efficient with resources.
It is already in the form of a progressive web app. It can be added to the main screen and behaves exactly like a mobile application.
Any $OFE holder is important, it does not necessarily matter the amount invested, because it is compensated by the number of investors. The more of us, the better. Also, anyone can get rewards for the promotion work they do.
On the Roadmap, I saw that you will have a public event with 10k people in Q3 2023. Can you give us more details?
For the event to succeed, at this moment the best solution is to keep all the details under lock and key, at least until the main objectives are completed. We will announce on official channels with enough time till the start of the event.