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Morse Network x Satoshi CLUB AMA Session 21 Jan 2021

Hello, Satoshi clubbers and guests of this site. Today we will talk about the Morse Network project. Morse is a new privacy coin that will completely revolutionize the privacy game by providing the ability to do everything in crypto, privately.
The AMA took place on January 21 and our guests were Samuel Morse — the CEO of Morse Network, Ivan Morse — the dev team lead at Morse Network, Daniel Morse — Head of Marketing at Morse SOS and Aurelian — a member of Morse Network.

The total reward pool was 500$ and has been split into 3 parts.

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram

Mary | Satoshi Club:
Hello Satoshi Club! We are happy to announce our AMA session with Morse Network! Welcome to Satoshi Club

D. | Satoshi Club:
Hello all!

Samuel Morse:
Thanks for having us! We’re excited to be here!

D. | Satoshi Club:
@RestitutorOrbis @MrMorse1 @MrMorse2 @MrMorse3 hello guys! welcome!

Daniel Morse:
Hey, thanks for hosting us.

Ivan Morse:
Heyy everyone
Thanks for having us

D. | Satoshi Club:
Welcome, welcome!

how are you doing?

Aurelian:
Fine, here.

D. | Satoshi Club:

awesome! let’s begin our AMA!

D. | Satoshi Club:
Please, tell Satoshi Club a bit about yourselves and Morse Network.

Samuel Morse:
I’m Samuel, the CEO of Morse Network. I’ve worked in crypto for years and have been with countless projects in just about every role imaginable. Morse is a new privacy coin that will completely revolutionize the privacy game by providing the ability to do everything in crypto, privately.

Ivan Morse:
Hey, I’m Ivan, I’m the dev team lead here at morse network. Been working on crypto for about three years now.

D. | Satoshi Club:
Ambitious goal!

Daniel Morse:
I’m Daniel Morse, Head of Marketing at Morse SOS. Iv has been working in the crypto area for over 5 years now and have headed some great projects previously which landed multi-million USDs of investments.

Mary | Satoshi Club:
Can you explain how exactly Morse will revolutionize?

Samuel Morse:
Ambitious maybe, but we will be there much faster than anyone will expect. Our dev team has been kicking butt.

Mary | Satoshi Club:
Nice experience

Samuel Morse:
Currently, privacy tokens are very niche and don’t provide that much functionality beyond the ability to transact. We see no reason that all the defi tools and other crypto tools shouldn’t be fully private also.

Samuel Morse:
There’s no reason for anyone to be tracked unless they want to be. We’re huge privacy advocates.

Mary | Satoshi Club:
We have mixers, so anyone can use them. Why we need privacy tokens?

Samuel Morse:
Mixers aren’t sustainable for long-term use, is not scalable, can still be traced effectively, and are not provably safe like Morse.

Samuel Morse:
Morse provides full functionality, with a near-limitless scale, and is probably safe.

Daniel Morse:
Above all mixers are relying on centralized services so it’s kind of hard to make sure they’re a fully decentralized service.

Daniel Morse:
The problem with conventional mixers is twofold; you have to trust them to not steal your money, and you have to trust them to not keep track of the movements they performed with your money.

Mary | Satoshi Club:
It has sense

but in mixers, we use ETH, for example. With you we will need to trust Morse

as i understand, you have an anonymous team, how you plan to build trust between Morse Network and its users?

D. | Satoshi Club:
1inch DEX already has the function of private transactions. anyone can swap privately there, as well.

Aurelian:
To some extent, it’s more of an aggregator than a privacy platform.

Samuel Morse:
You won’t actually need to trust Morse with how we will be setting things up. You just need to trust our tools which will be fully open source.

Mary | Satoshi Club:
Trust code?

Aurelian:
Not to mention the insane fees of 1inch.

Samuel Morse:
Trust code, not people.

Aurelian:
Don’t trust, verify.

D. | Satoshi Club:
Ok, thank you, guys! good intro, let’s find more about Morse in the first part of our AMA!

ready to start?

Samuel Morse:
Sure!

Mary | Satoshi Club:
Yes, favorite crypto moto

Q1 from Telegram user @Wormz28
Can you give us an overview of the tokenomics and use cases of MORSE? What is the total supply & the details of its distribution & emission? Also where we can purchase the $MORSE token?

Aurelian:
https://morse.network/assets/Morse-(SOS)-Whitepaper-v0.1-slight-update.pdf

Aurelian:
Tokenomics is on page 4.

Samuel Morse:

https://esatoshi.club/wp-content/uploads/photo_2021-01-21_20-30-16.jpg

Aurelian:
Was just about to send that, lol.

Samuel Morse:
Morse can be purchased at morse.network/presale currently.

Mary | Satoshi Club:
Do we just need to send ETH to the address?

Samuel Morse:
Yup. Exactly. Then the coins are automatically sent to your wallet.

Mary | Satoshi Club:
Is it necessary to connect metamask?

D. | Satoshi Club:
And what are the use cases for Morse? would it be just another private coin/token?

Samuel Morse:
No, you can interact with the contract from any wallet by copying the address provided at the bottom of the page. We just set it up to be easy to use metamask since the majority of people tend to use metamask for presales.

Daniel Morse:
Metamask auto-populates the contract address when you connect it.

Daniel Morse:
But you can interact with the contract through any wallet.

Samuel Morse:
We are actually in negotiations with some very large markets on implementing our tech to help secure their markets and enhance the experience for their users.

Samuel Morse:
But Morse will be useful for anyone that wants to be able to do anything crypto has to offer in 1 place, privately.

Samuel Morse:
We will be a one stop shop that is provably private.

Mary | Satoshi Club:
So, basically, I will need to have $MORSE token and…

Mary | Satoshi Club:
When I will send it no one would be able to track this transaction?

Mary | Satoshi Club:
Or I
will need to do something special for this?

Samuel Morse:
So basically you will be able to wrap any coin onto the morse network. Once wrapped you can move the wrapped versions anonymously to do all the normal stuff you would do with DeFi. When you leave the network, as long as you do so to a new wallet you will be fully untraceable. Once the basic defi tools are complete we will be adding a fully anonymous messenger to use within the ecosystem.

Mary | Satoshi Club:
Perfect, got it

Samuel Morse:
We will have versions of Morse on all major chains(Eth, Dot, TRX) that will allow use on those chains also.

Mary | Satoshi Club:

Mary | Satoshi Club:
Thank you, guys! Ready to proceed?

Samuel Morse:
Sure.

Q2 from Telegram user @antoni_azx
At your whitepaper you stand with novel solutions like ZKRollups to hold the promise of increasing systemic efficiencies related to the preservation of privacy, can you tell us more about this subject? What will be its implementations?

Ivan Morse:
We’re using zk-snarks for creating proof while making a transaction on the network. The proof is created by a circuit provided to the zk library and is verified on the network. It eliminates everything which can trace a user making a transaction and can only be validated with the exact same circuit which created it.

D. | Satoshi Club:

https://esatoshi.club/wp-content/uploads/mp4-2.mp4

D. | Satoshi Club:
Do you know some other projects which using this technology?

Mary | Satoshi Club:
It will be a very nice feature for crypto. Do you, guys, always personally use privacy coins and their features? Why?

D. | Satoshi Club:
Or it’s just your original work?

Ivan Morse:
It’s open-sourced. Many projects are using it. Only the circuit differs. It’s the main thing that actually does everything. xdai , tornado, etc.

D. | Satoshi Club:
Gotcha.

Samuel Morse:
I don’t always use privacy coins but the need is undeniable. There are always some transactions that people do not want the world to know about. A lot of whales have also commented to us that the ability for their holdings to remain private while still allowing them the ability to earn rewards and transact appeals to them.

Mary | Satoshi Club:
Ok, I see and the reason seems solid

Mary | Satoshi Club:
Do you want to add something or we can go to the next question?

Samuel Morse:
We can move on unless there’s anything you feel we missed answering.

Q3 from Telegram user @JesusFre1tes
Morse is still a very new platform in the cryptographic world. My question is, how will you generate confidence in your investors and users to start being part of Morse? With so many abandoned projects in the last months, what will Morse do to encourage participation in its protocols?

Samuel Morse:
On top of this, we are considering adding another layer of privacy to further mitigate the risk of anything being identified.

Mary | Satoshi Club:
What do you mean by another layer of privacy? What it will be?

Samuel Morse:
Once people see how fast we put out products that work and are useful they will gain confidence. On top of that, we are currently in negotiations with a few major markets to be implemented in them as potentially the only option. Once that occurs adoption will be inevitable.

D. | Satoshi Club:
yeah, everything is an open book in the most of blockchains, the privacy there is worse than in a bank system.

Samuel Morse:
The best analogy I can give is if you’ve used any markets that require PGP encryption for messages, that also have a built-in encryption feature. It’s just to ensure that in case a worst-case scenario happens, you’re still covered.

Mary | Satoshi Club:
How soon your first product will be available?

D. | Satoshi Club:
Big news are coming.

Samuel Morse:
Exactly.

Samuel Morse:
I’d say about 4 weeks to be safe, but we’re actually anticipating way before then.

Mary | Satoshi Club: Why did you decide to do pre-sale first? Not working product, but pre-sale? Do you need funds to cover your expenses?

Samuel Morse:
Presale is mainly so that we can provide liquidity in a lot of places immediately on launch. Initially, we didn’t think the product timelines would be quick enough to make finishing it first a viable option. But our Dev team did some really good work. By the time we realized that was viable we had already made a lot of commitments around this timeline so we decided to continue with it.

Mary | Satoshi Club:

Samuel Morse:
If needed I will self fund the project.

Mary | Satoshi Club:
Oh, that’s generously

Mary | Satoshi Club:
Ready to go to the 4th question?

D. | Satoshi Club:
Will you do some sorts of airdrops for the community? or maybe some contests? like memes or sticker pack for Telegram?

Daniel Morse:
Haha we’re planning to do a meme contest very soon

D. | Satoshi Club:
Nice!

Q4 from Telegram user @KevSalom
Whenever we talk about privacy we only think about the advantages of protecting our identity in every transaction, but seeing the other side of the coin is also important. What about illegal transactions and money movements? Wouldn’t all this about privacy cause a rejection of Morse Network by governments?

Samuel Morse:
As of now, we have no plans for an airdrop. One of our team leads, @peeledthemask has actually been looking for a good option to make sticker packs.

Daniel Morse:
Also, there are rewards we’re planning for Twitter, Reddit, and others to

Mary | Satoshi Club:
we have meme profi here

right, @Cool_as_Ice ?

D. | Satoshi Club:
Whaat

Samuel Morse:
This is less of a concern when we can squat on other chains. Governments have already for example ruled Ethereum ok. So there’s no way they could prevent someone from using our network, then exiting on eth and using uniswap to turn it into something else they can use instantly. We are not really concerned about illegal transactions because we feel a handful of bad actors shouldn’t compromise the entire world’s right to privacy.

Mary | Satoshi Club:
It’s also true

so, no regulations and, btw, in some way it means no CEX Exchanges for $MORSE, right?

Samuel Morse:
We have actually been approached by quite a few exchanges, including 2 Tier A exchanges about Morse. I fully expect us to be on at least a couple CEXs just as an option for our users.

Mary | Satoshi Club:

Mary | Satoshi Club:
Great, thank you for your answers.

Mary | Satoshi Club:
Ready to go forward to the next question?

Samuel Morse:
Sure.

Q5 from Telegram user @meml97
I saw that your roadmap starts and ends with 2021, is that everything you can give users about Morse Network background, how the project started and where will be at least on Q4 2021 or 2022? Don’t you think makes people a little skeptical not knowing the beginnings of the project and where the platform will be along with its users in the near future? Could you please give us more details about this?

Samuel Morse:
The idea is ultimately to allow the community to decide what needs to be built next. We anticipate that being within the year. At that point, it will be the community job to vote on what we do next.

We do have multiple teams that want to build on top of the framework we’re putting in place to add additional layers.

Mary | Satoshi Club:
How will your governance work?

D. | Satoshi Club:
By the way, would we have to pay some additional fees by using Morse Network? you know, on Ethereum you should pay for every move

for every contract interaction, etc.

Samuel Morse:
Fees will be very low on the Morse Network. There will be transaction fees to wrap/unwrap on your desired chain that will depend on the fees on that chain at the time.

Aurelian:
With improvement proposals, community votes, reps if they’re needed due to whales accumulating, etc.

Aurelian:
Similar to Maker or Yearn Finance.

Aurelia:;
Trying to keep it as liquid as governance can be.

Mary | Satoshi Club:

cool!

Mary | Satoshi Club:
And can we go to the 6th and the last question from this part?

Samuel Morse:
Sure!

Q6 from Telegram user @AugusS7
If I want to create a dApp on the ETH chain and have Morse privacy, should I first create the application with ethereum and then associate it with Morse? or can I create it directly with Morse.

Ivan Morse:
You have to create the application on ethereum first then you can associate with morse or use it’s privacy feature. The chain is ethereum , you have to make it on ethereum first. If you don’t want to make it on ethereum first you can use your dapp on top of ours but only if we allow and share our resources with you on the chain.
This may differ on other chains as all chains have their own way of managing dapps.

D. | Satoshi Club:
Will people able to use your network on mobile devices as well? maybe you have some app in the development?

Ivan Morse:
Yes maybe in the future. Things are growing fast in the blockchain world. Nothing is sufficient enough with respect to time. We’ll also be increasing our ecosystem with respect to time and opportunities.

Part 2 — live questions from the Telegram community

Q1 from Telegram user @highpee
As a privacy coin, don’t you think listing on CEX will defeat the objective of the project since CEX can be regulated and anonymity cannot be maintained? And will this mean that your coin will only be needed for wrapping other coins and not available for trading?

Samuel Morse:
This isn’t really a concern since we will work cross-chain while exchanges may only implement our ERC20 versions on their exchange.

Q2 from Telegram user @wonderkit
Is the name Morse derived or inspired from Morse code and is the Morse project friendly to new users or easy to use?

Samuel Morse:
Yes, Morse is originally from Morse Code. The project will be extremely user friendly as that is our primary goal.

Q3 from Telegram user @csgonub
For creating high liquidity into the ecosystem multiple blockchains can be good. Do you support multiple blockchains?

Samuel Morse:
Yes, we will support all major chains.

Q4 from Telegram user @palamemo
Due to bad events, investors are very sensitive about smart contracts. Has the Morse Network smart contract been audited by secure and well-known institutions? If so, would you share the result with us?

Samuel Morse:
We currently are undergoing audits and will post the results publicly once they’re available.

Q5 from Telegram user @dumpspump
Are there any working live products right now or is it still in the project phase?

Samuel Morse:
The privacy tech is working which is the hard part. As far as platforms the first one will be released within the next few weeks and we anticipate one every few weeks after that.

Q6 from Telegram user @Safanuri271
Why i invest my hard-earned money in your platform when I’m seeking that many people lost money due to rug pull done by various projects specially the Defi project what unique feature you offer for me so I ensure your platform protects my money and prevent these rug pul?

Samuel Morse:
We will be locking liquidity so there will be no way to pull the rug.

Q7 from Telegram user @babicanB
Morse Network will use 50% of the token’s total supply for rewards. Isn’t this rate too much? Why did you plan such a mechanism?

Samuel Morse:
Ensuring rewards for providing liquidity incentivizes the adoption of the ecosystem.

Q8 from Telegram user @KeymerS
I have observed that projects looking to implement privacy use “zk”, but is it really the only technology that can achieve this “privacy”? or there are many more technologies but they are not as efficient as ZK?

Ivan Morse:
There are many but zero-knowledge is best as it eliminates everything which can trace a user making a transaction. The proof is generated by our circuit and is only verifiable by ours. The user doesn’t have anything related to the creation and validation of zk proofs.

Q9 from Telegram user @Eliasbb
Without good funding, you can’t able to keep the process of development running. So, will you run a pre-sale? Do you have such a plan?

Samuel Morse:
We are currently. You can read more about it or participate in morse.network/presale

Q10 from Telegram user @Astonroe
After sending ETH if somehow token do not come into my wallet what would I do? Whom can I connect for these kinds of situations?

Samuel Morse:
You would go to our telegram chat @morsenetwork or our discord chat https://discord.gg/wcC4kF26cp for help with those types of issues.

Part 3 — Quiz Results

In the final part, we tested your knowledge in terms of Morse Network. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.

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