ZILLA AMA with Qudem
Abasa Phillips, Founder & CEO at ZILLA, did an AMA with Qudem some time ago. There were some really good questions. Check it out on Qudem website or read below! We have translated the questions and answers into Chinese, Japanese and Korean.
Q: What are some of the biggest challenges you’ve faced during the bear market, and how have you handled them?
Reinvigorating our users is tough in this market. Many people lost money in crypto last year and just don’t even want to talk about crypto anymore. I understand that since the same thing happened to me after losing money in Mt Gox. But in times like this, entrepreneurs should make more of an effort to collaborate with other entrepreneurs in blockchain. crypto enthusiasts should sit back and marvel at all of the cool tech, and all of the companies building and supporting our industry and give those services a try! Qudem is a perfect example of that. Built by members of the crypto community for members of the crypto community. I am happy to support and happy to be along for the ride!
Q: Where can I find the total supply info?
You can find it on Etherscan.
Q: How can ZLA transfer to wallet not see the balance?
You can click the eye on the top left of the wallet next to your balance. That will hide your wallet balances.
Q: If you could start from day 1 all over again, how differently would you approach the development of ZILLA and the amount raised. Particularly interested in you highlighting the things that went wrong and how you would improve it if given the chance all over again.
Based on the knowledge that we had, I feel that we made the best decisions that we could have made at the time. We have more knowledge now as to where the crypto markets (crypto prices as well as blockchain trends) have gone so I can’t in hindsight say I wish we did this or that since I can’t go back in time. I think we should have raised more money though lol. Many projects take shortcuts and outsource their development. I did this early on in my career as an entrepreneur so I’ve learned that mistake the hard way. You end up having to rebuild it for various reasons and you end up spending a lot more money over time.
Q: When can we expect our GD tokens?
Thanks for supporting! We send them in batches after the snapshot. Airdrops are technically tricky and there’s usually a bit of manual work especially with large airdrops such as this. For example, midway through the airdrop the ETH gas prices change, and transactions start to fail. We need to track those and resend them. If this were bitcoin, you can actually send to multiple addresses as one transaction, rather than thousands of individual transactions. This is an inherent flaw in Ethereum.
Q: What are the benefits for long term supporters?
This question actually takes a bit of explaining before addressing it directly.
When starting a company, you have an initial assumption, and you build the company around that. In ZILLA’s case, our initial assumption is that 1. ICOs are hard, 2. People want a standardized way to participate in an ICO, 3. ICOs are here to stay, etc, etc. We build a business model around that and decide how much we will charge for the services. We then decide the benefits for supporters based on that.
When assumptions are proven incorrect through data gathered by running the business based on user behavior or the market, then we adjust and make changes to the app. We continue to adjust until we’ve found something that we can make money on in order to sustain the business. (some call this ‘finding product-market fit)’. Then make changes to the business model, then make changes to the benefits to early supporters.
Market climate changes quickly. For example, Uber is shut down in the UK, but then Uber Eats takes off. They have to adjust for each market that they’re in. So do we. Crypto in particular moves and changes extremely fast, and most companies in our space are not able to keep up. One month fee mining is popular and all the rage and everyone is putting that in their business model. The next month NFT’s are popular and everyone is scrambling to add that to their wallet. Then all the sudden Mimble Wimble is popular and everyone’s trying to support that. Now IEOs are popular. A bit ago everyone was talking about security tokens. The SEC is going after influencers so we cant use them for marketing anymore. Facebook and Google don’t allow crypto ads, so now how do we do marketing? etc etc. Also keep in mind that it takes 9-10 months to come up with an idea, design it, and build it, so you have to be able to ‘see into the future’ and understand where the crypto market is going in order for your business to survive.
We feel that we’ve gained clarity into our business and parts of what we are currently working on are beginning to work and we are building benefits for our supporters now. Some new features and benefits will be released within the next 30 days. As a user, you want benefits now or sooner, but what everyone needs to understand is SO DO WE!!!! These things take time though.
Lastly, take a look around at all the crypto companies that you liked last year. Compare that with the companies that are actually shipping and releasing software updates. Stick with them. They won’t forget about their supporters.
Q: Are the ERC20 tokens that ZILLA creates minable? how does the crowdsale portion work once deployed?
Good question. They are not mineable. The crowdsale functionality of the token contract is just for the purposes for initial token distribution. You send the contract ETH, the contract spits back ZLA. After they are fully distributed, the tokens are tradeable peer to peer.
Q: When airdrop will start?
Which one? We recently did a stablecoin airdrop and a GD Token distribution.
Q: Is this the stable coin drop? I never saw an announcement in the channel and did not receive any drops either.
We have been making announcements since late August/early September in videos, in the communities, newsletters, etc. Sorry you missed it. There will be more airdrops and faucets coming soon. (That’s a big hint btw.)
Q: My GD tokens are still in myether wallet. How to send them to the ZILLA app wallet?
You can just send them. Not quite sure what you mean. MyEtherWallet (MEW) wallets have 24-word recovery phrases, and ZILLA wallets have 12-word recovery phrases so you cannot open your MEW wallet within ZILLA, but you can simply send your GD tokens to your ZILLA wallet. In the ZILLA wallet, click the ‘search’ bar, then type GD token, add the token wallet, and send the tokens from MEW to ZILLA.
Q: Where did the name ZILLA come from?
I was trying to come up names with our CTO Tanvir, one Friday evening and I said ‘we should just call it ZILLA like Godzilla, because we are going to be monstrous.’ or something like that. The rest is history.
Q: Did you cash out after ICO was finished? Are there enough funds left to continue the project, if so, how long?
We converted some of the ETH to USDT and other stable coins. We have about ample runway, and revenue is starting to come in as we have launched our event platform, and soon to launch other revenue generating functions.
We are releasing the first ever crypto Faucet as a Service. Like an airdrop, a faucet is a way to distribute and receive free cryptocurrency.
Abasa Phillips, Founder & CEO at ZILLA, did an AMA with Qudem some time ago. There were some really good questions. Check it out on Qudem website or read below!
Many of you have asked about GD token and the snapshot that we do every 3 months. We heard you!
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Now you will be able to check out ICO projects, complete KYC only one time, manage your cryptocurrency through our wallet, and easily send, receive, and secure your assets.