LABS Group Internal AMA (BNB Migration) Recap

AMA recap starting from:

https://t.me/labsgroupio/309315

Jus | LABS Group

Hi LABS community, here comes to another #LABS internal AMA.

Today we have @leozhezha, CTO of LABS as our guest today.

He will be here to solve all the tech related questions to our community.

@leozhezha, would you like to introduce yourself over here again to our LABS Community?

Leo Zhezha | LABS Group

Hello to all our supporters, I’m Leonidha (Leo) Zhezha and I’m the CTO of LABS as most of you already know. I’ve been with LABS Group since day one and I’m very excited with all our achievements and the ideas that our team has for the feature.

I would like to thank you all for being close to us all this time and for the patience that you all had during our migration to Binance.

I appreciate all your questions and concerns regarding our project and I’m assuring you we are on top of all the concerns that our community has.

Jus | LABS Group

Thank you Leo. Shall we start our AMA ?

Leo Zhezha | LABS Group

Definitely 😀

1/3 Introduction session

Jus | LABS Group

First question, may you please explain to the LABS community what has LABS achieved in 2021 on the tech segment?

Leo Zhezha | LABS Group

In 2021 we finalized our Crowdfunding platform and our Win platform. Our blockchain core was built with Polygon and we also utilized VRF Chainlink for our Win platform. We listed 2 big projects and we had a lot of attractions. This was amazing.

Jus | LABS Group

Indeed, those are key highlights that we would like to bring to our community!

Moving on to 2022, what are the upcoming plans of LABS in 2022, will there be a tech upgrade?

Leo Zhezha | LABS Group

For 2022 we upgraded our smart contracts and migrated to Binance. This was a necessary step after we carefully heard our community’s concerns about the fees and network speed transactions. Now we are focused and working on the Staking feature.

Jus | LABS Group

Indeed, LABS cares about the voice from the community, we understand the gas fee is high on the ethereum network hence we are switching to the BNB chain!

How would users maximize their experience on the BNB migration and benefit from it?

Leo Zhezha | LABS Group

The user flow will remain the same, the main reason we decided to migrate was to help reduce the network fees and increase the speed of the transaction process for our users. We found out that the Binance network is very user and development friendly.

Jus | LABS Group

Perfect! How would a user be able to bridge through from the ethereum network to the BSC network seamlessly?

On top of that, what are the experiences that you are building for LABS?

Leo Zhezha | LABS Group

Regarding the LABS Token, our holders will be able to bridge through https://multichain.org/ .

We are focused on the staking feature. We want our users to get reworded and this is our priority at the moment. We are working on making it very easy for all our registered users to be able to stake. More announcements regarding staking rewards will come from our team members.

Stay tuned to our social media channels.

Jus | LABS Group

Awesome! LABS would always put our community experience as our first priority!

LABS community, please stay tuned on the good news!

Moving on, which platform have LABS been listing on? Are there any special partners that you would like to highlight on during the progress of future tech development for LABS?

Leo Zhezha | LABS Group

We are going live in Bitmart today,

Deposit:4/25 9:00am EST

Withdrawal:4/26 9:00am EST

Also, we are already up on Kucoin and Gate.

Definitely, Binance will be our main partner since both our platforms at the moment are fully using BNB network and Chainlink VRF for randomization for our Win platform.

Jus | LABS Group

Gotcha!

With the news of going live with Bitmart, community members would be able to acquire LABS tokens in BSC on CEX!

Indeed! For LABS community information, LABS will be hosting the 5th Binance live event on the 27th at 11AM UTC!

https://twitter.com/blocklikecom/status/1518109232822120448?s=20&t=BjdUUFAgOT586H_5YU6-Pw

Shall we move on to the twitter community session?

2/3 Twitter community session

#1 from @tuan_iker92: Security is so important to all of us nowadays. How does LABS ensure that the assets of your users are safe and secure? Do you have insurance for users?

Leo Zhezha | LABS Group

Within our platforms, we are doing our best to maintain decentralized solutions. For crowdfunding, the Investor must use the Metamask wallet to invest and redeem the Project Tokens into their wallets. We are not holding and don’t have access to any of our investors’ wallets and the only way their assets are at risk is if the individuals lose their wallet Private Keys.

Same for our Win platform, the transactions are direct with our users’ Metamask wallet.

Please make sure you never share your Private Keys with anyone.

Also on our backend, we are monitoring every step that our users do in case there is an issue during the transaction process.

On top of that, we do have a lot of security tools that are monitoring our servers and people staying on top 24/7.

Jus | LABS Group

Great! LABS community, your security is always our first priority. Please make sure you never share your Private Keys with anyone!!!

#2 from @Chandjv1: What is the utility and use case of #LABS Group ? Can it be used outside of The#LABS Group Platform? Where are you currently on the road map and what positive results have you achieved so far?

Leo Zhezha | LABS Group

Our Token at the moment can be used only within our Crowdfunding and Win platforms. We are focused on the Staking and working on a multichain approach to not limit our investors and provide more options for investing.

We are working and planning with the team further announcements and features that will come after we push live the staking feature.

Jus | LABS Group

Awesome! Sounds like good news to the community as it is one of the big focus from our community too.

#3 from @WinterCom: One of the greatest aspects of project success is community support. And most of the big projects have programs that interact with their users. My questions: Do you have any specific plans to attract & expand your community and improve the user experience?

Leo Zhezha | LABS Group

This is a great question and we are always trying our best to be on top of our community. Besides our social media channels, we are going to create a support platform and give the option to our community to reach out to our support team and chat directly with us.

Solving issues is very important, solving them fast is our priority.

Jus | LABS Group

Perfect! A bridge to direct technical issue support to the community!

#4 from @czlordsos: What problems do you see occurring in the blockchain industry nowadays and how does your project aims to solve these problems?

Leo Zhezha | LABS Group

The biggest problem at the moment is the usability of multiple networks. We are planning to work on a multichain approach and provide more solutions and features without limitations.

Jus | LABS Group

Sounds awesome!

#5 from @Miraakter11: Talking about #LABS BNB migration, How can migration work in YOUR platform, Could you tell us details How can we user’s migration the #LABS ?

Leo Zhezha | LABS Group

The user flow hasn’t changed at all with our previous network. The Investor will follow the same steps as before to Invest and redeem their project tokens.

At this moment you are able to bridge ETH Labs tokens into BSC Labs Tokens using https://multichain.org/ .

Jus | LABS Group

Perfect! Is there anything that users need to be aware of throughout the bridging process?

Leo Zhezha | LABS Group

It is very simple, make sure to follow the steps within multichain.org

Jus | LABS Group

Loud and clear!

Before we move on to the live AMA session, is there anything you want to add to the community?

Leo Zhezha | LABS Group

Before I thank everyone for listening I would like to mention that make sure when you import the LABS token into Binance to use the following contract address : https://bscscan.com/token/0x134b372f5543c5cca30be6a796da032c8274bddf#balances

Thank you all for being here today and thank you for your support.

Jus | LABS Group

Definitely ! #LABS community, please make sure that you are using the correct contract address

Let’s move onto the live question

Please drop 1 question that is related to the tech development and @leozhezha for your question

Rules:*Username should be shown and remain unchanged until the end of the claiming process*

Leo Zhezha | LABS Group

We are following the NFT hype very closely and at the moment we don’t have a plan but we are in discussions.

This as a general regarding the NFT questions I saw a lot

Jus | LABS Group

Indeed. Since NFT is still a big hit !

Leo Zhezha | LABS Group

#1 from @OlaDamiii: Will the value for both chains be the same

We are going to use only BSC so please bridge over your tokens as soon as possible.

#2 from @hridoy2322: How important is the community to you? and how can we collaborate or help you for the development of the project?

It is very important and we would love to get more feedback using our social media channels to reach out to us and also when we have our Support platform ready.

#3 from @pushpa2223: Is the platform suitable for every kind of user? Who are the potential customers? Are you mainly focusing on big investors or small investors?

An investor can be anyone in our platform we are not limiting and not looking only to high investors.

#4 from@cryptobp20: Telegram community question: Staking program is very important for every project? Can I stake your Token? Do you have any plan of starting a staking programme? plz tell us sir? ✍️✍️

As I mentioned before, yes we are working on the staking at the moment and we are going to update when it will be live and ready for our users.

#5 from @romano029: Telegram community question: How many team members do you have? Do they have enough experience in the blockchain field? Do they have any experience working in crypto and non-crypto projects?

Yes, at the moment all our team members are all Senior on what they are doing with more than 10+ experience in different variants of platforms and more than 4 years within blockchain space.

Thank you all again for being here today and for your questions

Jus | LABS Group

Thank you Leo. Before we end this AMA, are there anything else that you want to add to our community on the #LABS #BNBMigration?

Leo Zhezha | LABS Group

Just as I mentioned before I get a lot of users reaching out regarding our contract address on BSC. Please make sure you are using the right one.

https://bscscan.com/token/0x134b372f5543c5cca30be6a796da032c8274bddf#balances

Jus | LABS Group

Thank you @leozhezha for joining our #LABS internal AMA.

Also, I would like to thank the LABS community for their participation in today’s AMA!

That’s the end of our AMA. Have a good day everyone! ✨

Twitter winners:

@tuan_iker92

@Chandjv1

@WinterCom

@czlordsos

@Miraakter11

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