CatJAM AMA Recap (4/26/21)
Another day, another AMA. The best one so far. This AMA was held in the Gem Collectors Telegram group. Let’s get right to it.
Q1: Welcome team CatJAM, great to have you here tonight!👌
Hello and glad to be here!
Q2: Let’s get right into it! We’ll start off with a fairly easy question; what is CatJAM in its essence? Why was the project developed in the first place?
CatJAM, in essence, is a charity token that aims to use the power of crypto and the blockchain to help people make a change in the world. The project was developed to use the influence of memes to bring about this change. We believe the future of finance, economy and politics is decentralization and true democracy.
Q3: Interesting statement, sounds like an ambitious one! Now, the secret behind any project is the developing team. Can you tell us a bit more about the CatJAM team, who is behind it and do we know them from other projects perhaps?
Yes. My ambitions as the founder of this project are high. On the surface, CatJAM looks like just another meme coin. But in its essence, it aims to inspire people to change the world.
Some deeper meaning behind a memecoin is definitely due time with all these clones popping up.
The secret behind any project is the developing team, indeed. And the development team in our project is…a secret. Inspired by the creator of Bitcoin, Satoshi Nakamoto, the developers have vowed to stay anonymous. We believe the essence of crypto is the decentralization and anonymity.
Q4: Urstandable choice, how do you vough for safety and a secure ecosystem for your investors if you’ve taken the non-anon approach?
Our moto is: Trust the code, not the people. We will have a full security audit for our smart contract soon and will always be completely transparent in this regard. Also, all the “developer wallets” like the charity wallet, the exchange reserve wallet and the airdrop wallet are locked. Liquidity is also locked and the contract has been renounced.
Q5: Those are great moves, can we see the links of that stuff being locked?
Yes. You can also find all this information in the pinned messages in our Telegram group.
🔒 Locked liquidity: https://dxsale.app/app/pages/dxlockview?id=1624&add=0&type=lpdefi&chain=BSC
🔒 Giveawaykening wallet lock: https://dxsale.app/app/pages/dxlockview?id=0&add=0x5f8F3CaAb9484a5168C1e6f461CEe2fDa5D94052&type=tokenlock&chain=BSC
Q6: Which company will do the audit?
We are in talks with different companies at the moment and will choose the one who gives us the best offer.
Q7: Let’s dive into the details. The CatJAM token. What exactly are the features of the CatJAM token, or should I say $MEOW token? Is their a burning mechanism for example?
You should say $CATJAM token :3
…but that’s not actually a bad idea!
CatJAM is a deflationary cryptocurrency on the Binance Smart Chain. Every time a transaction takes place, 2% of that transaction is distributed to all the holders and sent to the “black hole” wallet, essentially removing some of it from the total supply. Another 2% of the transaction is sent and locked into the liquidity pool where people can buy it back. This increases the scarcity of every CatJAM token in circulation. What this means is that every time CatJAM is used, the value of the remaining CatJAM tokens in circulation is increased by simultaneously decreasing the supply, while also distributing CatJAM to everyone using the token.
CatJAM is a charity token. The only wallet the developers will own from launch is the Charity Wallet which will be locked with vesting enabled. The funds in this wallet will be used for our upcoming charity projects, marketing and expenses. Every time we donate to a cause, you will receive tokens in your wallet as a reward for being part of the community. The CatJAM army (You) will decide the course of our altruistic campaigns by voting in the polls. Your vote will be minted into the blockchain and registered in the CatJAM contract. Our mission is to help cats and provide them a free and fulfilling life. By holding or trading CatJAM tokens, you are part of this mission and will change the world of cats, whether you’re aware of it or not…
The CatJAM developers will renounce ownership of the contract after launch on Pancakeswap. Then, in an unprecedented move, we will distribute 100 000 000 000 CatJAM tokens from the Charity Wallet between every single token holder at that particular time. We call this high-energy-level event… THE GREAT GIVEAWAYKENING.
Q8: Could you share the current tokenomics with us as well? (price, circulating supply, etc.)
Sure. Here’s a nice overview:
🔢 ORIGINAL SUPPLY: 2,000,000,000,000
🔢 BURNED TOKENS: 1,000,000,000,000 🔥
🔢 INITIAL LIQUIDITY (LOCKED) 🔒 + PRESALE: 200,000,000,000
🔢 THE GREAT GIVEAWAYKENING: 100,000,000,000 🔒
🔢 CHARITY WALLET LOCKED WITH VESTING: 100,000,000,000 🔒
🔢 EXCHANGE RESERVED LOCKED: 600,000,000,000 🔒
🔢 TAX LOCKED INTO LIQUIDITY POOL: 2% 🔒
🔢 TAX DISTRIBUTED TO ALL HOLDERS: 2%
- The price is currently, at this time: $0.00000160452 per 1 CATJAM
- The market cap of CATJAM is currently around 1 million usd
Q9: Now from your explanation we know that the CatJAM tokens is unique in quite some ways; first of all, it is community owned is that correct? What does this mean exactly? What is in the hands of the community at the moment?
Yes, we are striving to complete community ownership and decentralization but this will happen when we migrate to Ethereum 2.0 later this year. Community driven cryptocurrency also means that we will have a vote staking system, where people can stake their CatJAM Tokens to take part in polls to choose the direction of our next charity project. The community will make the big decisions and vote. The CatJAM developing team and the founder will bring these decisions to fruition. These polls and decisions will be minted in the blockchain.
Q10: Sounds good, also an innovative use of the ETH 2.0 update. For now the project is still partly driven by you as the dev then as well right?
Yes. We still have control over the funds when the vesting is unlocked and we begin to migrate but after that, we want to have just as much power as the rest of the community. The only difference will be that we are still the spearheads and leaders of the community who have an obligation to inspire and bring forward new ideas and goals. Then — with the help of the community, achieve those goals and document it on social media and record it on the blockchain. But we hope more people will join our cause in the near future and help us lead.
Someone has to tow the boat, even if it’s only the initial push
Precisely. Nicely put.
Q11: Well, a very interesting aspect of crypto that I personally like a lot these days is the charity aspect. We’ve seen it before with Sadcat Token and I hear you guys are doing something similar. Can you explain to us, what is being done for charity?
Yes. CatJAM is a charity coin, indeed. First, we will give back to our community and early holders who believe in our vision by distributing 100 BILLION tokens (that’s 1/10 of the supply) to all wallets holding CatJAM Token. We call this airdrop event “The Great Giveawaykening”. Then, we will begin the first cat shelter charity campaign where the team will physically bring hard cash to a cat shelter and record it for our social media. Next, we want to collaborate with established charities and donate to projects online. Me and a select few team members will also go out on the streets and to other countries to help feed stray cats, take them to vets, cat shelters and find people in our community who would like to adopt. I personally will adopt a cat as a celebration of this project in Q2 or Q3 this year.
I also want to find solutions to bigger and more difficult problems such as stray cats in Casablanca, Morocco. People literally throw dead cats in cardboard boxes out in the streets. This is a people problem, not an animal problem in my opinion and we can do better than this. And we must show the world that we can change things, it doesn’t have to be this way.
Q12: After the Giveawaykening the donations to the shelters shall short you say. Do we have an estimate of when this event will take place?
Yes, the giveaway will happen in about a month and the first shelter donation in the next couple of months.
Q13: CatJAM token also has a great community behind it if I’m correct. I was welcomed by a great Cat Remix on the website and I hope there might be more community content. Could you share some with us?
Yes, I am proud of all the hodlers that we have, people who believe in the vision and are in it for the long-run. These people, in my eyes, are legends. Yes, we actually want to do polls where the community will decide on the next song that you can play on the website! That poll will come soon. We also have MEME COMPETITIONS — Right now there is a meme competition with a prize pool of 1BNB and we share our favorite memes on our social media channels.
Look at that, great one👏 MEMESSSS
The next meme competition will start on 27th of April and I think you’ll love it, it’s an idea that one of our community members had. We are also working on meme videos that will be posted on YouTube, TikTok and Instagram — personally, I can’t wait for these. And ofcourse, there will be charity related, quality content in the future. Documentary type content.
Q14: I think it’s a positive aspect that the token is so focused on the community. Memes, songs and other content are always appreciated in crypto and we all love it too ;) Could you quickly share the song on the website with our community if possible?
Sure. Here you go: https://www.youtube.com/watch?v=PJTKDka1dUk
Q15: Before we jump into the community questions, could you share the link to the CatJAM community once more?
Be sure to check it out! We’ll dive into the community session worth $50 of ETH in a sec if that’s okay with you Dev?
Yes! OPEN THE FLOOD GATES.
And may God have mercy on our souls.
Q16: ♥️Charity projects are certainly appreciated by everyone, but in some countries many may not realize it. There are still many who need our helping hand. How did CATJAM spread awareness of this project? Does CATJAM have a IocaI community so they can better understand your project? And How do I join this great project?
We’re spreading awareness online by building our community, creating dank memes and content and collaborating with known charities in the future to build a presence and reputation in the charity world. Our community is worldwide, as we are anonymous and there is no one central location, we do not have a local community. You can join our community by joining our Telegram channel and other social media!
Q17: competitive advantage?
dank memes, burning passion, a great coder and a visionary leader who never gives up.
Q18: Your governance method is “stake-based”, so everyone that holds enough of your tokens can participate, how do you incentivize your voters to make good apportations to your platform? Is there any way to reward them? What is your next 5 to 10 year future plan?
Yes, we will reward people who take part in the stake-based governance system with tokens. The next 5–10 year future plan is to build a powerful token on the Ethereum blockchain, create dapps and develope our stake-based governance ecosystem. Oh, and the cats will also take over the world. Meow.
Q19: NFT technology makes significant contributions to the digitalization process of human life and seems to accelerate this process. How does CatJAM see the potential of NFT technology in the future, what would you say about your future projection?
One of the most exciting projects we have in the roadmap is the RESCUED CATS NFT’S. We will rescue cats all over the world and turn them into beautiful NFT’s people can own on the blockchain — Complete with each rescued cat’s name, appearance and their story of where they came from and how they were rescued. Every rescued cat NFT will be a character with their own background story that people can buy, sell and trade or hodl forever.
Q20: How Decentralized is CatJam on BSC? The biggest concerns I see with BSC is that it is not Decentralized enough. How are you keeping CatJam Decentralized? Would a move to Ethereum help with it?
It is true, BSC is not very decentralized. This is precisely why the CatJAM Token will migrate to Ethereum 2.0 in Autumn.
Q21: Can you tell us about the motivations and benefits for investors to hold tokens in the long term? And do you have any secret plans for the future, if so. Can you tell us?
Q22: The CATJAM great team consists of how many people?
At the moment, a handful of people are in the team working part-time, doing different things. Different departments, so to say.
Q23: I see the logo of your project as very interesting which is like cat from meme and makes it different from other projects, what’s the reason you chose that logo? Is there an interesting story behind the standing of your project and can you share it with all of us?
I chose the CatJAM meme because It’s one of my favorite memes if not THE favorite and I love cats and music. I think this meme is one that resonates with a lot of people. The logo at the moment by the way is just a picture of the CatJAM cat but an artist is currently working on a new logo which will hopefully be finished this week.
Q24: Many crimes are committed in the real world every day and animals become victims, including cats. How does Catjam Project see the importance of charity and a sense of caring, especially in solving incidents such as animal rights abuses? Do you have a real role here?
This is the mission of CatJAM right now. To help victimized and homeless cats all over the world and actually help them hands-on, not just in our office while sitting on our asses. I personally will go and work with shelters and lead initiatives helping homeless cats on the streets while documenting everything for our social media, to give people hope and join us in the cause.
Q25: You explained that CatJam intends to take away the centralized power of the so-called “elites” and give it back to the people. The so called elites won’t sit and watch centralized power taken away from them without putting up a fight. Did you factor in the bottlenecks that would surface in trying to do this?
Yes, ofcourse. This is one of the reasons I want to stay anonymous. That being said, I don’t intend to solve problems with violance or anything of the sort. I plan to inspire the community to take back power with love and creativity ❤️
Q26: Every project is bound to encounter problems on the way to success. Did CATJAM encounter any problems at this time? What problems and shortcomings does CATJAM develop in the blockchain space?
Yes, currently we have very little people working on marketing and a very limited budget for it. We will expand this department in the near future.