“Meet the most complete and easy to use tracking and analytics tool for the BSC and ETH networks, packed with never before seen features and state of the art UX to streamline your crypto investing workflow.”
Andrew:
Hello everyone and welcome to the AMA with the Sonar team!
Thanks for taking the time to join us today 🙂
Matt | Sonar Comms:
Thanks for having us!
Jacob (JTC)- Sonar CEO- sonarplatform.io:
Thanks for hosting us 🙂
Mike CFO/ Sonarplatform.io:
Pleasure to be here with you and your community, Andrew
Eli | Sonar Community Lead:
Hello Andrew and BSC NEWS!
Cristiano | Sonar CIO:
Thanks for the opportunity Andrew
Andrew:
Great! Never had an AMA with so many on the team this is going to be awesome to see everyone’s input
Okay before we start can you guys all introduce yourselves just so everyone can get a grasp of who’s who?
Jacob (JTC)- Sonar CEO- sonarplatform.io,:
I will start myself. I am Jacob, I am the CEO of Sonar and I am from Malta. I am experienced in project management, business and have been in crypto for a number of years.
Mike CFO/ Sonarplatform.io:
Thanks Jacob. I’m Michael Wood. I’m the CFO of Sonar. For the past 20 years, I was trained in Finance, specifically in Commodities/Derivatives Trading. I also have been operating a multinational charity which operates soil-to-cup coffee development programs with 1000’s of small farmers. In that time, I spent 5 years co-developing a public-private blockchain specifically to track and trace 198 indicators to provide efficient resource, financial, and knowledge management for large cooperatives…
Cristiano | Sonar CIO:
I’m CIO and I’m responsible basically responsible for the product and user experience, I have 20y of experience in the general design field, 12 of specialisation in UI and UX and +5y as CEO
Matt | Sonar Comms:
Hello BSC news community! My name is Matt, Im from New Zealand, my role in Sonar is the Operational Planning and Communications. I have worked in Government services and sales and hospitality, and i have owned my own business.
Eli | Sonar Community Lead:
My name is Elias, the Community Lead of Sonar.Â
I have over 15 years in community management through online gaming and public communities and spaces.Â
I also have been moderating and managing communities in Crypto for the last couple years. My main focus in community management is to create a space which garners mutual respect and open mindedness.
Cristiano | Sonar CIO:
…products I’ve designed and developed have been awarded by the Apple Appstore as Best app of the Year in productivity in 2012, best of the month a few times, have been featured as Editor’s Choice and reached the top charts in most countries
Eli | Sonar Community Lead:
Thank you Andrew, we are an eclectic bunch both in experience and cultural backgrounds.
Andrew:
Yeah I mean that is kind of the beauty of Crypto itself right? Bringing people from all around the world together who would’ve probably never met in their lifetimes
Jacob (JTC)- Sonar CEO- sonarplatform.io:
Well said 🙂 We are amazed by that everyday
Eli | Sonar Community Lead:
Exactly, I’m no stranger to that as it correlates a lot with the online gaming world 🙂
Andrew:
Yes, so let’s jump into the questions
1. Can you give us an introduction to your platform and what it entails?
Jacob (JTC)- Sonar CEO- sonarplatform.io:
The sonar platform is a multi-chain cryptocurrency analytical ecosystem, which intends to incorporate a multitude of analytical tools into one, user-friendly platform. The platform intends at facilitating trading and Is practically a tool made by investors for investors. Whilst our CIO and CfO will get into more detail regarding the tech and blockchain aspects, we have always intended the platform to be a way to help investors make the right choices and feel safe/comfortable about their investment decision.
Andrew:
Yeah when I first started looking into the sonar platform I was pretty interested so let’s push on
2. Tell me about your founders and the vision you share.
Eli | Sonar Community Lead:
So back in April we were all individually invested in a project as strangers. Things were going well, we were all getting to know each other and as you would guess it in this space; The dev rugged the Liquidity and we were left speechless. We had invested a decent amount of money and then lost it in the blink of an eye.
After that we were left confused and a bit lost. We created a community for everyone to grieve in and try to understand what happened. From there we started to just help eachother find projects that are safe to invest in together and eventually had a couple hundred members with us as a small community.
We soon realized the best way to invest in a safe project in the BSC space is to make it ourselves.Â
Over the last 3 months we began having brain storming sessions and forming our founders team.Â
We decided the basis of the platform will be to help people of all skill levels in crypto be able to self educate and navigate this uncertain and confusing space.
So it is essentially both a project we want people to feel safe investing in, as well as a way for them to find other projects that are safe to invest in, or at least be able to decide for themselves if it is with a simple user interface that someone new to crypto could understand.
Andrew:
I see so I’m sure you guys take security very seriously then
Mike CFO/ Sonarplatform.io:
Absolutely.
Eli | Sonar Community Lead:
Security AND Transparency.
Andrew:
Have you been audited or plan on it?
Eli | Sonar Community Lead:
We have paid and applied for full Tech-Rate audit. We are just waiting for them to complete and release it.Â
We are in the early process of completing a Certik audit as well for Q3.
In regards to transparency, we are consistently sending personal videos to engage with our community on a daily basis. Using a multi-sig wallet to do any transactions through our dev/marketing wallet which requires multiple members of the founders team to approve and sign for. So there isn’t just one individual who has access to the funds.
Some people are familiar with the Gnosis vault multi-sig platform as it is very popular in secure crypto projects in the top 50 tokens.
Andrew:
Gotcha, that is fantastic to hear about
From a user’s perspective
3. What features are going to be implemented into Sonar?
Mike CFO/ Sonarplatform.io:
I’ll take this one.
The features of Sonar are both vast and varied, though they cascade unto each other to form a robust analytics, trade execution, and enhanced investment platform.
For instance, the first stage of Sonar is to provide investors with an all-in-one platform to perform all the leading DYOR functions for coins in the Binance Smart Chain. Features such as rug screens, honeypot identification, liquidity lock checks, contract ownership checks, whale/bot tracking, social media presence tracking/impact, and more…
Sonar is also delivering a secure, non-custodial wallet service which provides portfolio data which investors are currently unable to access, i.e. profit/loss data for individual and portfolio investments,
Then, the Sonar will implement a bridge to other chains including Ethereum. Sonar holders will be able to not only interact with Ethereum, but able to capture staking/yield farming/etc. opportunities which are inaccessible on the Binance Smart Chain. This feature also contains many of our “secret” programs which will be launched and integrated into the Sonar holders’ bag of tools to increase profit opportunities in non-traditional, but highly-profitable crypto spaces.
After successful adoption of these services, Sonar will be offering market-maker level trading tools for the investor, whether small or large. These include risk/volatility identification, price action updates/notifications, grid trading, trailing profit/stop-loss functions, risk management features/guides (e.g. recommended position size for a given asset), price projections/pattern recognition using algorithmic-based machine learning technical analysis and more…
This is just the current roadmap….the evolving nature of crypto is something we embrace and will continue to build within for Sonarians.
Andrew:
wow…
So besides brushing my teeth for me, Sonar can pretty much do anything
A massive multi-tool in the DeFi space
Is kind of what I’m getting at here
Jacob (JTC)- Sonar CEO- sonarplatform.io:
pretty much 🙂
Matt | Sonar Comms:
Haha yes you could say that!
Mike CFO/ Sonarplatform.io:
Well, that’s a little overstretch…But yes, we would like Sonar to be on that level of usefulness not only for protecting assets, but growing them.
Andrew:
So with so many goals and time hacks to meet, how many in total do you have on your team?
Matt | Sonar Comms:
big answer in coming !
Jacob (JTC)- Sonar CEO- sonarplatform.io:
We are a team of 11 founders. However the development of the platform will require us to onboard full stack experts. We are currently expanding and intend to employ/contract a comprehensive development team.
Mike CFO/ Sonarplatform.io:
Just to expand upon that, the technical team will involve full stack developers, whitehat security experts, quantitative analysts, etc.
Andrew:
Great so set on a large team I see
4. There are many tools that will be available for users, what are these tools and how do they set you apart from other crypto tracking platforms?
Cristiano | Sonar CIO:
I’ll be glad to take this
Well Michael alluded to the tools, now let me talk about a few details about the experience – which I want to emphasise as will be an important additional differentiator
Regarding the platform, along with all the usual data you are used to – market data and price movement – you’ll get access to a wide range of performance indicators coming from community and socials tracking, both within a token’s community but also from other channels which are not dedicated to a single token such as crypto-related reddit channels or prominent influencers for instance.
On top of that, we are also bringing automated tracking capabilities to a frankly unseen level; where you normally find the ability to get alerts for basic price movements, we start giving the chance for a finer price related events tracking (e.g. increase of X% in a specific timeframe, say 1m), beside DEXs and token tracking website listings (CG, CMC…), community growth and sentiment – and if that’s not enough we’ll later provide this within a conditional system that will let you “compose” your alert using different criteria in a AND/OR chain
Another important detail is the deep customisation of the dashboard UI – which will let you decide what indicators to keep more prominent for a faster read/access, and to hide those you just don’t use. This will let any trader improve the efficiency of the tool by adjusting it to the wide variety of investing and trading strategies out there.
Regarding the wallet we’ll share much more info along the way, but for the moment we’d love to show you this preview just to demonstrate the highest standards we are setting up for our products:
…and you can all gather more info on our website sonarplatform.io
Andrew:
Okay I see so while there are extensive features, users are able to customize their experience in ways and have all tools they may need a click away
5. How will you stay up to date on the latest tokens and coins that crypto or DeFi has to offer?
Mike CFO/ Sonarplatform.io:
The platform itself is inbuilt with the capacity to track and analyze new tokens as they enter the BSC and ETH space. As it updates/populates the list, the platform will as well. The goal of Sonar is also to provide early detection of scams/ill-developed coins/contracts in as quick of a manner as feasibly possible. Again, the platform aims to be the premier source for BSC/ETH asset verification for all investors in these spaces.
Andrew:
I see, so this is where that security aspect also comes into play
I know you touched on this earlier but just to recap in a sense
6. Will users be able to track their portfolio if they connect their wallet?
Cristiano | Sonar CIO:
Absolutely, that’s one of the simpler features actually, but at the same time probably more widely useful – and by using Sonar Wallet you would get all of this RIGHT inside a single environment
Just imagine having like a metamask with portfolio analytics and value, RT token prices, enhanced market data and analysis – all with a state of the art user experience
Andrew:
And would you have most or all of the big name AMMs and Yield Aggregators?
Or would Sonar Wallet be able to pick up any project?
Mike CFO/ Sonarplatform.io:
Well, the point is to handle as much of the BSC and ETH chain (to start) as possible. This does include AMMs and Yield Aggregators as they are an integral part of this space.
Mike CFO/ Sonarplatform.io:
After all, these are investment opportunities and we want to be able to deconstruct these tools (through knowledge bases/educational material) as well as the ability to interact and analyze them.
Andrew:
Understood, thank you Mike
7. Why did you build Sonar on blockchain rather than a regular website that can track your favorite tokens?
Mike CFO/ Sonarplatform.io:
Actually, we didn’t build Sonar only on blockchain. The application itself is a web3 app. However, the token is the medium of exchange to use the services provided through Sonar as well as access the trading tools and opportunities. In other words, Sonar is both a web3 application and a blockchain asset. Neither is mutually exclusive of each other.
Andrew:
Okay I see, well great this actually leads me right into the next question
8. What are the tiers that users need in order to use the full capabilities of your platform?
Cristiano | Sonar CIO:
For the moment we defined 2 tiers beside the basic 0 (non-holders), but a 3rd one might come up along the way
The quantity of tokens required in order to use the platform with be obviously adjusted with price increases, so investors coming in today will have the best chance to access the higher tier with a relatively small sum – which IMO is fair as they are granting us their trust already, and that to be paid back in full is paramount for us.
Generally, we will try to keep tier 1 access linked to staked holdings of ~500 USD and tier 2 at ~2000 USD, but tbh this is subject to change after having proper market analysis and product research with focus groups
It’s important to say that we’ll give access to the basic features (and a couple special ones) to everybody, especially from the wallet product, as that is a pillar of our acquisition strategy
Andrew:
Okay gotcha
And to do this you would need $PING
9. Tell me more about $PING what uses and benefits does it have on your platform?
Mike CFO/ Sonarplatform.io:
I’m glad you asked this question, Andrew.
This leads to the long term benefit of Sonar.
PING itself will serve not only as the gateway to access the tools we are developing to protect and enhance your current investing and trading strategies, but will provide access to upcoming investment vehicles that will span multiple chains. This specific capability uses the best emerging technologies, constantly evolving and improving, which allow Sonar to interact in novel and unexplored ways in which crypto has yet to offer to today’s cryptonaut.
At this point, it must be understood these methods are kept close to our collective chest as we want to ensure PING holders are the first investors to access these profit-making opportunities which are untapped, have incredible upside potential, and will be absolutely game changing in the crypto AND physical investment universe.
Andrew:
Gotcha
And last but not least
10. Any exciting news you’d like to share with us today?
Jacob (JTC)- Sonar CEO- sonarplatform.io,:
We have a series of marketing strategies being planned out. Our aim has always been at community building, being unique, being transparent and engaging the public/community. Tomorrow we have another AMA with another big public group and we have other TG, Discord and Clubhouse groups who are very interested to host us. Whilst some traditional marketing will be carried out, the main idea is to grow our community in a sustainable manner with organic growth. We are also available on our Main Channel TG Voice Chat for most of the day, and I invite you all to hop on anytime and ask the team any questions you desire.
Andrew:
That’s great!
Can you drop a link to all your social media accounts so everyone can stay up to date on the Sonar Platform?
Jacob (JTC)- Sonar CEO- sonarplatform.io:
coming up 🙂
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