Host: Hello, everyone!😁 We are glad to meet here Philex Zhang, CEO of Apron Network
Philex Zhang: excited to be here!
Host: Welcome Philex , thank you for taking your time today!
Philex Zhang: It’s my pleasure.
Host: Great 😎
Host: Our team has prepared 3 questions for you to start with!
Host: Let’s start with the introduction! Q1: Can you introduce yourself to our community?
Philex Zhang: Definitely
Philex Zhang: My name is Philex Zhang and I’m the CEO of Apron Network. I graduated from National Computer Information Content Security Key Laboratory(I know the name is really long) of Harbin Institute of Technology as a PHD student in 2012, and worked in Feitian Safe Ltd for about 3 years as a senior system security analyst after graduation.
Philex Zhang: In 2015, I went abroad and studied computer network and security for 2years in New Zealand, and since then worked as a networking engineer there. Cryptography is a key area of our information security research. It’s safe to say that I have been following the development of cryptocurrency since its birth
Philex Zhang: There are around 10 full time members working in Apron Network, 5 devs and 5 marketing people
Philex Zhang: That’s about it;)
Host: Let’s talk more about Apron Network!
Host: Q2: Can you briefly tell us what is Apron Network in 3–5 sentences?
Philex Zhang: The Apron Network is a decentralized platform created by Apron Labs to provide infrastructure services for DApp developers, DApp users, and operators in the blockchain world. In the initial stage we will provide node service, on-chain data indexing service, random numbers, price feed service etcs for Polkadot ecosystem, also we will provide services for Ethereum, BSC and much more public chain in the forthcoming future.
Philex Zhang: Q3: Thank you for great answer, I think it is a bit technical though, can you put the same in more layman terms?
Philex Zhang: For sure!
Philex Zhang: I’ll explain what Apron Network is and why it’s important for web3.0 with two examples
Philex Zhang: I’m sure it will be much clearer this way
Philex Zhang: First of all, all projects working on blockchain need node services. That’s like the connection between DApp and underlying blockchain and all the volume happens there.
Philex Zhang: Currently most projects rely on centralized node service providers like infura because it’s too costly and time consuming for any single projects to maintain their own nodes.
Philex Zhang: But here’s a problem.
Philex Zhang: Around December 2020, there’s a significant incident where Binance, Metamask, Coinbase all went down at the same time for around 2 hours.
Philex Zhang: The reason behind this huge black swan event is that the node service provider these company relied on, Infura, failed to update their Ethereum node on time.
Philex Zhang: Here’s where Apron Network comes in.
Philex Zhang: We are the first decentralized infrastructure service provider trying to solve this ancient problem in such an innovating space.
Philex Zhang: We combine the force of all individuals who are capable of running a node, that is having their own server, and provide our customers with a choice of working with all of them at the same time so even when some of these node providers go down, their project won’t be affected since there are still many other node providers working for them.
Philex Zhang: These individual node providers will be able to easily join Apron Network with our Apron SDK(software development kit) and earn fee for the service they provide.
Philex Zhang: The second example actually just happened recently with the ITO of MASK.
Philex Zhang: It’s a very anticipated launch but the team had to postpone their ITO because their ROC provider QuikNode was overloaded with all the enthusiastic investors.
Philex Zhang: Again with Apron Network this wouldn’t happen since our algorithm will be able to balance the volume evenly throughout all the service provider so that they’ll not become overloaded.
Philex Zhang: Basically Apron Network is a much safer, more convenient alternative to centralized node service providers and we envision a mass adoption within and without the crypto space of decentralized infrastructure provider in the near future.
Philex Zhang: We are here to solve a real problem that anyone in crypto are aware of. “Binance went down again” already becomes a meme now.
Philex Zhang: Hope this explanation will help ;)
Host: Yeah, well done!
Host: the last question from us before we open the chat for community questions
Philex Zhang: Yes please
Host: Q4: what is your tokenomics and what is the purpose of APN token?
Philex Zhang: In order to save time I’ll just put a simple version of our tokenomics here:
Philex Zhang: The maximum issuance of APN is 1 billion tokens, no pre-mining.
Philex Zhang: Institutional private sale constitutes 15% of the total amount and 25–30% will be unlocked after listing, while the remaining token will be unlocked within the following year.
Team has 5% of the tokens and 15% will be unlocked every 6 months after listing.
Advisor 3% having 25% unlocked after listing, while the remaining token will be unlocked within the following year.
Ecosystem construction 17%: these tokens are mainly used for LPO (slot auction), market activities, airdrops etc., and they are managed by the foundation.
Philex Zhang: APN is our native token and it has several utilities on Apron Network:
1.it’s used as payment to use service paid by the customer to the service provider
2. Apron Network will charge a certain amount of fee as the service fee as well and this fee will be burnt permanently which makes APN a deflationary token
This is very important because as we grow and more customers come to Apron Network, more token will be burnt which means the value of the APN you and I are holding will increase.
3. Staking. We have several portals for our token holders to stake their APN token earning passive income and helping the network grow at the same time
For example we have an “inspector pool” which is for those who want a less risky staking option. Their role in the network will be simulating the real user to call the usage data and judge whether the service provider does a good job or not and whether they are providing fake data or not.
Also the service providers will need to stake some APN token as their skin in the game so to say. And if there’s bad behaviors occurred on the service provider side, they will lose the token they staked and the network will redistribute them amount the inspectors
4. We will also introduce governance into The APN token once the network becomes fully functioning
Philex Zhang: Yes! It seems like a lot of information
Host: awesome, great answers 😊
Host: Thank you for such detailed and interesting answers!
Host: It is time to move to the community questions part.
Host: Let’s remind AMA rules to the community😊
Philex: Shall we open the chat now and let the community join the party?
Host:❗️ AMA structure and rules: 👥
- Community questions part starts after the guest/guests finishes/finish answering the introduction questions asked by the moderator. Moderator unmutes the chat to allow up to 100 messages and mute it.
- Each person is allowed to write only one message containing 2 questions, violators will be disqualified from participating in the reward distribution.
- Copy-pasted questions from previous AMAs are strictly forbidden, violators will be disqualified from participating in the reward distribution.
- All questions&concerns regarding AMA members should send in dm to @cryptodiffer_admin
- Important, please don`t write to other CryptoDiffer team members, they won`t be able to help you.
- Winners are chosen by Guests.
Host: I will open the chat at 16:44 UTC, check exact time on time.is
please prepare your questions
Philex Zhang: Wow the enthusiasm is overwhelming. I’ll try to answer as many as I can
Nana 👵: Apron Network will provide infrastructure services such as node services, on-chain data indexes, and quotation for Kusama, Polkadot, and Heco ecosystem. So is there any condition for the developer to become a node? What interest will they get?
Philex Zhang: Anyone with the equipment to set up their nodes will be able to become a node service provider on Apron Network. And we will make the process really easy with our SDK as I said before. They will receive the service fee paid by our customer and the network itself provides a service mining reward as well.
Lelpah Jr: Security & User Interface are the Most Important Aspect that Users see on a platform. How has Your Project worked on this? Is Platform suitable for Newbies in the crypto world?
Philex Zhang: Our main target customers are DApp developers since Apron Network is all about infrastructures serving web3.0 projects. Ordinary users won’t even notice our existence just like we won’t keep thinking about our sewer system but they are essential to any functioning city. To answer your question we will make our interface easy enough for any developers to us ;)
Seskiaaa: Is your project a local project or a global project? Can anyone use your services from anywhere in the world? Is there any restrictions of using your service?
Philex Zhang: It’s definitely a global project. The web3.0 we envision is free from the national boundaries.
Md Shãdîqûl Islãm: Tell us about $APN plans for 2020, what are you currently working on, and are you going to expand the list of big exchanges?
Philex Zhang: Most hard tech problems have been solved and we already launched the demo version of Apron Network on Huobi Heco ecosystem. If you are a developer on Heco feel free to sign up to use our services for free! And from now on our main focus will be on 2parts: 1. marketing and attracting more service providers and DApp developers to use Apron Network 2. Expanding to other block chains once all the testing has been done. We plan to first move onto Ethereum and Polkadot in Q2.
Dr Araceley: Can you share some information about the tokenomics of $APN? I heard that you also have a DAO system. How can common investors contribute to the Apron ecosystem?
Philex Zhang: Staking on inspector pool will be the easiest way to contribute to the Network because the inspectors are the ones who make sure there’s no bad actors. Also, spread work about Apron Network ;)
Cryptomania: What requirements do I need to fulfill to become an Inspector? What do I stand to benefit from being an inspector and what are the risks involved in being an inspector?
Philex Zhang: All you need is to have APN token and by staking them you can earn a passive income. There’s no obvious risk involved other than the market movement I would say.
Raufur Rahim Bappy: As Education for crypto currency is necessary nowadays , what’s your plan to to attract those people who don’t know about cryptocurrency?
Philex Zhang: We are actively working with many developer communities around the world 30+ of them as of now if I remember correctly. And we will be holding educational seminars with developers as well.
Irina: How Apron Network provides extra responsible security as compared to other systems? Can you please clarify in simple terms, a lot of people here are not from a technical background if you explain that in simple terms, it will help more ordinary folks like us to be cheered into your project! @Philex_Zhang
Philex Zhang: Yes! Definitely. In term of security just give you one example. We offer encryption to all the services provided by service providers on Apron Network so that when someone is trying to attack our customers by trying to hack into the servers of their service providers, the someone won’t even know where to shoot. They don’t know who is providing service to whom
MOLOTOP: How will Apron Network solve AWS Node problems once it has an overload resulting in disconnection? What do you think is Apron Network’s position in the industry, what are your mission and goals in leading projects, small and medium Dapps?
Philex Zhang: To be honest we never see centralized service providers as our “competitors” just like retrospectively you wouldn’t call Nokia a competitor of Apple. Decentralization is the future and what we provide is simply better than centralized ones.
Host: Demand — which is important for investors. How will demand of Your token increase in the future? What should you do to increase token demand?
Philex Zhang: The real demand is there since in order to use services provided on Apron Network you need to pay in APN. We might introduce stable coin payment methods in the future but paying APN will always be cheaper.
❤❤Tereliye❤❤: would appreciate it if you could share the next updates with us. What is the most ambitious goal of the project? What should the community look for?
Philex Zhang: We envision our adoption like What that chainlink looks now. Every project will be using Apron Network as their service provider since what we provide is infrastructure and no one can build without one.
Philex Zhang:I think this might be a good time to end our ama.
Philex Zhang:Hope I cleared most questions you have about Apron Network. Of course there are so much more about it I haven’t got the chance to talk about but please feel free to ask questions in our telegram group any time I’m sure the team would love to help!
Philex Zhang:May I post our social media links here?
Host: Of course
Host: Thank you for the answers;)
Philex Zhang: To learn more about Apron Network, Please join our social networks:
Host: And thank you for your time today!
Host: Thank you everyone who took part💪
Philex Zhang: No problem Maks! Thank you for having me!
Host: Thanks everyone, appreciate great questions.