Recap AMA Hyve Works x VCM Community

12 min readAug 8, 2020

Hubert: Hello everyone,

Only 15 minutes left and the AMA event of HYVE Works will be started

The representative for Vietnam Coin Market (VCM) is Admin Owner @taitan296 who will run AMA and HYVE Works project’s representative is @tstomff.

Vietnam Coin Market Group (VCM) will be locked to make the event convenient.

After Segment 2 of the Vietnam Coin Market group will be opened a chat so that the community can ask the project.

How’s everything going?

Again, it’s been my greatest pleasure to announce today’s special AMA session

“HYVE Works”

Today’s AMA session is composed of 4 parts:

1 — Say hello, introduce the project

2 — AMA moderator asks the project 5 questions that will be selected first.

3 — Ask the community (unmute the channel and let the community ask questions freely on telegram. Then the guests will choose about 10 good questions to answer)

4 — Quiz — Give 5 quizzes to the community to answer

You must complete the task at this Tweet. All violations will result in cancellation of AMA results:

https://bit.ly/3kfyvkt

Craving for the question rain ahead after I unmute the group.

Anyway, let’s get the curtain roll-up and welcome @tstomff and @bradyasar.

Hubert: It’s a pleasure to all of you who participated in the AMA today.

Hubert: Could you briefly introduce about yourselves as well as your project?

Tudor Stomff: Sure. I’ve initially joined crypto ~2013 and then started working full time on this around the end of 2016. I co-founded Bountyhive along with our CTO and worked on a couple other startups as well until 2018 when we started work on HYVE.

Brad Yasar: Of course. I’am Brad Yasar and i am the COO and cofounder of HYVE. I have been in the blockchain space for a decade plus and we started working on this project to help freelancers and gig economy worker have a better experience.

Tudor Stomff: As for HYVE, in short, it’s a platform that allows both humans and robots to collaborate with one another in a completely decentralized manner. The platform is openly governed by the community and we share 100% of the revenue with the users.

Brad Yasar: I am a serial entrepreneur and I love building things that help others so when we got together with Tudor and started ideating about how we can use blockchain to make lives better, HYVE was a natural progression of what we had been doing building communities and tool for other blockchain projects to succeed.

Hubert: Welcome!

Looking forward to have our audiences to know more about the project and the views.

Let’s get to the first question we’d like to know from you.

What makes the HYVE Works project stand out more than the projects in the same direction at the moment?

Tudor Stomff: We bring forth several features which are non-existent at the moment such as P2P legal agreements, native DeFi apps integration, a protocol that allows for automated verification of tasks, decentralized disputes and many others.

In short HYVE took what exists on the market and made it better while building on top of it.

Brad Yasar: We are unique in our approach to solve the two biggest problems in freelance work: platform and banking fees (sometime taking as much as 40% of the workers’ earnings) and the settlement times (freelancer working almost a week to get paid)

Actually we saw the problems and created a brand new approach and platform to address them

So it is a novel approach, not just a revamp of existing technology and solutions in the market

Hubert: Thanks for this impressive information. We will go over the next question.

Who are some business partner/clients for HYVE Works?

Brad Yasar: HYVE currently is partnered Kleros and a few other partners that i cannot announce yet because they are not public. But we are working with some well known partners to create an ecosystem that will create a seamless user experience for our users.

As far as clients go, well once the platform is launched will be start announcing those but our goal is to bring our existing community of 200k+ people from BountyHive to the HYVE platform for launch

Hubert: Thank you, we could give some mins for our audiences to read more about the comment

Hubert: We will come to the next question:

What are the memorable milestones of HYVE Works in the research and development process?

Tudor Stomff: Sure, that’s an interesting one. The first barrier we had to go through was figuring out a way to implement game theoretical principles into all the different facets of HYVE so as to ensure that the platform’s interests are always aligned with those of users.

The second hurdle was building a decentralized platform that behaves and performs at the same level as centralized versions and this was a bit harder, in the end we actually had to write inline-assembly code in our smart-contracts to handle the mathematical operations and only storing the final values in solidity ensuring that the contracts are smaller and faster.

As for the next important milestone, it will be in Q4 when we wrap up the alpha version.

Hubert: Thank you. What does HYVE Works plan to do to attract more users in the upcoming time?

Brad Yasar: We are going to use our experience and track record in building and growing communities to reach out to the freelancer communities globally and have a strategy in place to localize our outreach

Since we are a global and fully digital platform we plan to have the bulk of our activities in the digital marketing realm with some localized experiential activities to personally meet our future users as much as current global climate allows it.

Both Tudor and I love traveling and meeting our partners and users in person but given the state of travel we are making some alternative plans this year

Hubert: The last question is already done. Thank you @tstomff and @bradyasar for bringing the above useful information.

Next, the Vietnam Coin Market team (VCM) will open a chat for the community to ask questions to the project. We will have 3 min to ask. The HYVE Works project will then choose 10 questions to answer.

Let’go!

Now!

Let’s give some mins for @tstomff and @bradyasar to choose 10 questions to answer

@tstomff and @bradyasar, you may proceed now

Question 1. What is your plans in place for global expansion, Is #HYVE Is focusing on only market at this time?

Or focus on building and developing or getting customers and users, or partnerships?

We are designing HYVE to be global from the start but the marketing efforts will be localized so we can create seamless onboarding experience for our users

Question 2. There we see many projects that claims they are fully Decentralized. But they done their work in a Centralized way. How can we sure that HYVE is fully Decentralized? Can you please tell us what’s HYVE working method?

Sure, that’s a great question. First of all, HYVE will be open-source so anyone can check the code.

In addition, HYVE is going to be community governed so users can make proposals to improve and/or change various features of HYVE.

Also, the whole architecture of HYVE from the ground up is decentralized, from disputes to how work is being accomplished.

Question 3. Security is the most important thing on a blockchain. How secured is HYVE blockchain from attacks and hacks?

We are doing extensive testing of our code and putting procedures in place to address all known attack vectors. We will continue to test and improve the platform after the launch as well so we are the one finding any vulnerabilities before anyone else if they exists.

Question 4. hyve.work is a community governed platform thanks to the DAO system? Or really what system do you use for effective community administration?

HYVE is a DAO yes, which means that it’s community governed and autonomous. The system itself can be changed too as long as the community decides to do so.

Question 5. What technology stand behind HYVE and why its better than the existing one?

We use blockchains and a DAO structure which believe will be superior to a centralized server cluster model both from a cost and scalability perspective.

Question 6. Can I hodl HYVE longterm? Are there any benefits for doing so?

We share the revenue of the platform with our users so that means over time HYVE tokens will bring you more benefits as the platfotm continues to grow.

Question 7(tt). Can I hodl HYVE longterm? Are there any benefits for doing so?

Yes you can since as the platform grows and captures more value in its main currency — the token, the more the valuation of the token can increase

Question 8. You organized an AMA session very rewarding and received a lot of questions related to utilities and technology, future vision, …

So now I want to ask what do you want to receive from the community?

We hope that everyone will join us in this journey and help us make HYVE better with their feedback and contributions whether it be posting work or freelancing on the platform, sharing their expertise.

Question 9. How does HYVE provide Transparency & Safety for users & what is the reward structure for token holders?

How does HYVE work during the COVID-19 pandemic? Does a pandemic affect partnerships, investor relations, and the overall work of your team?

Keep in mind everything about HYVE is decentralized so that means everything’s stored on the blockchain and can be publicly checked by anyone. As for the reward structure, that’s quite long so please check the relevant chapter of the WP.

Now regarding Covid, it doesn’t affect us that much because even before Covid the HYVE team was decentralized. We’re spread out on 3 different continents and ~7 countries so we’re used to holding our meetings remotely as well as collaborating like this.

Question 10. Do you have any plans to attract non-crypto investors to #HYVE Because it is the success of a project to get more investors who are still not in the crypto world specially as a new project entering to the crypto. What are the plans to increase awareness around #HYVE in non-crypto space? And which region is in your mind? @tstomff @bradyasar

Yes and we have some non-crypto stakeholder that see the premise of the project however are not that concerned about the underlying technology stack. For them HYE is an opportunity to revolutionize the freelancing/gig economy and they want to be a part of it.

Question 11. You organized an AMA session very rewarding and received a lot of questions related to utilities and technology, future vision, …

So now I want to ask what do you want to receive from the community?

HYVE is all about the community. That’s why we built this project to be a DAO so to answer your question, the only thing we want from the community is involvement.

Whether that be through feedback, support or something else it doesn’t matter as long as people are involved in the project. After all, HYVE is built by the people for the people. This isn’t a corporation but a community-governed project.

Question 12. Are you a direct competitor to Fiverr and Upwork, and also freelance sites?

Yes, our goal is democratize access to work that those platform came short doing.

Question 13. Can you tell us about the DeFi ecosystem? how is the construction going and what can HYVE add to the ecosystem?

Sure. We allow any DeFi app to be natively integrated into HYVE in order to assist the users of the platform. This makes things easier for accounting purposes or simply if a HYVE(i.e. self-regulated organization within the platform — similar to a decentralized startup) wants to take a loan to enlarge their operations.

Question 14. What are the advantages of a decentralized version of the freelance and workforce market. Why would I, being a common worker, prefer to use HyveWorks instead of other centralized platforms?

We hope you’d choose HYVE over other platforms because of the UX and the savings in settlement time and fees.

Question 15. Really what is the mission and vision of the hyve.work project? just develop a platform that helps solve problems in the global market?

Democratize access to good work opportunities and good workers and help more people find work globally.

Question 16. Are you a direct competitor to Fiverr and Upwork, and also freelance sites?

No, at best we are indirect competitors. You might be wondering why. That’s quite simple actually. HYVE isn’t simply open-source but built from the ground-up to facilitate people and/or other platforms to make use of our existing infrastructure and build freelancing platforms on top of HYVE. So whether Upwork or Fiverr they can both choose to build a decentralized version of their service on top of HYVE without having to rebuild the whole infrastructure.

Question 17. Why does robots need blockchain for them to interact with we humans? What is role of blockchain?

First of all for transparency purposes and to allow the work to be checked.

Leaving that aside, however, that’s not the point. HYVE is built to become a pillar of collaboration and collaboration does not have to be restricted to strictly between humans. Why not allow two robots or a human and a robot to work together on solving a task? That’s the reason for implementing this in the platform.

Question 18. I know $HYVE is trying to be adopted around the world. And if it work, How have you handled the different regulations of the different countries in which #HYVE has arrived? it has been difficult?

We are compliant in all jurisdictions we operate in and will continue to operate that way in all markets HYVE is in. In a globalized world it is more and more important to understand and respect the regulations in the countries you want to operate in and we plan to do that in cooperation with our local legal partners.

Question 19. We all know that HYVE is a community-governed ecosystem that solves the global current problems,

My question is: Which reasons/factors forced you to choose this Concept for the HVYE project , Because we all know that there are many projects on this concept? @tstomff @bradyasar

We’ve been working on this since back in 2018 and we started work on this project and concept mainly because we previously ran a centralized micro-tasking platform which while succesful had many inherent problems that couldn’t simply be solved by fixing some things here and there. So we decided to just build the whole concept from the ground-up instead of improving a flawed concept.

Question 20. For which public and sectors is HyveWorks directed? What market share do you plan to take away from your competitors? What are your perspectives on the freelancer market?

All sectors can benefit from Hyve for certain types of projects and tasks that need to be compete and we plan to take as much market share as we can.

Question 21. Are you planning to develop a HYVE wallet in the near future?

Stay tuned :)

Question 22. The financial markets, cryptos market … all fell due to the covid-19 epidemic. Does this affect your project development plan?

We believe this current pandemic and its effects on the market actually have proven a great use case for HYVE and our roadmap has not changed. We are still building the platform and plan to launch it within our timeline so more people can earn a living through remote work.

Question 23. I really love this project and want to support it to the fullest, can we (the community) support them? because if you win we win.

Yes we are counting on communities to support us so we can grow globally. Thank you for your interest and support.

Question 24. Where does the name Hyve come from? What does it mean for you? Why did you choose that name for the project?

It comes from beehives. It means a lot of things to us, but to boil it down to one thing, it means collaboration.

Alone, bees are quite fragile and even more than that they wouldn’t be able to continue surviving. Yet when working together not only do they survive, they actually thrive.

This is why we chose the HYVE name in particular. We envision this platform as a place where anyone can collaborate without being limited by technology in any manner because we want to see how far we can go as a society if collaboration between people is at its highest levels.

Hubert: Thank you @tstomff and @bradyasar for replying to the community.

Hubert: Tks sir

We will go to Segment 4, the HYVE Works project will ask the question. All correct answers will be eligible to win. I will spin after AMA with these cases. Choose the luckiest one of these to receive a reward / each question.
Each person can only answer 1 time / 1 question

The VCM group will be chatting after 1 min

Please @tstomff and @bradyasar to ask Quiz questions.

Quiz 1. Who can join or create a HYVE?

Everyone

Quiz 2. What is the main advantage of using HYVE over other freelancing platforms?

a. Fee Sharing, with 100% available to token holders.

b. Ease of use

Site management

Speed

Security

Customizability

eCommerce

c. We share the revenue of the platform with our users so that means over time HYVE tokens will bring you more benefits as the platfotm continues to grow.

Quiz 3. How can people earn on HYVE?

Buy refer and earn program, and staking

@SIRJEETU

Quiz 4. What blockchain is HYVE built on?

Eth

Quiz 5. Which markets will HYVE be available in at launch?

All the world

So the AMA HYVE Works at Vietnam Coin Market (VCM) is also coming to an end. Hopefully in this direct exchange, the community has a basic understanding of the HYVE Works project. I am the moderator today. Congratulations to the HYVE Works.

Thanks @tstomff and @bradyasar for joining AMA with the VCM community today. Wish you much health and success.

Again, don’t forget to join the HYVE Works community for further assistance. Thanks everyone.

https://t.me/hyveworks

https://twitter.com/join_hyve

Website: https://hyve.works/