28/09/2021
Royal Protocol AMA (Summary) with Coinsbit - 09/28/2021
Taken directly from the Coinsbit Exchange Group~
Introduction!
Coinsbit: Richard, can you please take a few minutes of your time to introduce yourself to our community?
Richard*: I'm the Chief Operations Officer for Royal Protocol, my main background is in the SaaS development space*
Coinsbit: If you could give us a high-level, overall summary of Royal Protocol, what would it be?
Richard*: Royal Protocol is a blockchain based gaming ecosystem. We are building out ways for game developers and other services in the gaming industry to integrate with blockchain and other blockchain services in a standardized and open way.*
We are also building out a certification process to ensure games are compatible with each other and the global Royal Protocol economy.
Coinsbit: Can you tell us a little bit about where you are right with the project and what the community can look forward to in the near future?
Richard*: Currently we are in a building phase. We have a flagship product that is patent pending, and a lot of development is going into Royal Arcade Rewind. We are about to release two custom games for tournament giveaways of those tokens in our ecosystem, and a larger set of risk-based games in Royal Arcade Rewind. In future the community can look forward to playing games in Royal Arcade Rewind as well as other parts of the RP ecosystem on the Royal Protocol Blockchain.*
Coinsbit: People may ask what are some of the problems/issues/pain points (in gaming and beyond it) that could be solved through the Royal Protocol project?
Richard*: There are many issues in general we are working towards solving. These include gaming dark patterns, such as players that tend to pay more in current games could have different loss rates so that a gaming company could be making them lose more to pull greater profits.*
Greater visibility into how winning and losing occurred through an immutable ledger that is blockchain.
Interoperability with other games and products in the ecosystem. Currently games and their economies are disconnected in the gaming world. We have exciting ideas and concepts we are working on to give greater depth to games and allowing them to have assets and economies in common.
Coinsbit: What are you most proud of and/or what are you most excited for with Royal Protocol?
Richard*: I have a great growing team around me, I'm proud of them coming together and the passion and vision we share together. I'm excited to see ideas, concepts, and development happening in concert towards our long-term goals.*
Coinsbit: Can you tell us about any plans Royal Protocol has to help vulnerable demographics, such as those with risk-based game addictions, in the future?
Richard*: We have a patent pending technology that we will be leveraging in one of our flagship products, Royal Arcade Rewind. The ability to play risk-based games in a manner without the same concept of permanent loss, we are working towards changing the landscape and definition of what gambling is.*
This gives us an opportunity to pursue things like government grants and assist with addiction counseling. One of our long-term goals is to have systems in place to help these types of individuals in this space.
Royal Protocol will have a lot more to say on this topic over time as we release new games and other flagship products.
Quiz Round!
Q: What state is the Royal Protocol S-corp based in?
A: Texas, USA
Q: What does the acronym RAR stand for?
A: RAR stands for Royal Arcade Rewind and is one of our flagship products.
Q: Is Royal Protocol pursuing one technology patent or MULTIPLE technology patents?
A: We have multiple patents in the works, one for the Royal Arcade Rewind blockchain technology and two in the NFT space for our NFTySwap Marketplace we are building.
Q: Do risk-based games through Royal Arcade Rewind legally qualify as gambling, or does our patent-pending technology change their classification?
A: The uniqueness of our Royal Protocol ecosystem along with the patent pending blockchain technology we can create a unique product offering allowing users to "Risk Everything and Lose Nothing". We are also able to be in markets and jurisdictions other risk-based games and gambling based companies are not.
Free ask!
Community: Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?
Richard*: This is exactly why we are building out our Royal Arcade certification process and the underlying tools developers will need for blockchain integrations both into our game products and the Royal Protocol Chain.*
Our token has several audits, we are planning on building out an audit team, and having our upcoming Liquidity Pool $1M giveaway audited as well.
Community: Could you tell me a little bit about Your roadmap going forward, how do you plan onboarding users and gaining more adoption for your project?
Richard*: We have an expansive internal roadmap. We are actively working on getting a public version of the roadmap out there for users to have a place to constantly discover our ever-expanding ecosystem.*
As we build out our products, games, and commercial offerings we plan on doing extensive giveaways, and have a lot of effective marketing efforts underway.
Q: What do you plan to do with the community to involve it faithfully in the project? DAO, governance, or something to keep the community together and speaking out for its own interest?
Richard*: Royal Protocol has a vision rooted in community governance. As I've lightly mentioned before we are doing a large Liquidity Pool competition in the near future giving out $1M in Royal Governance token.*
This will allow the community to have a larger voice in what games, features, and products we bring to market, and in what order some things are developed.
We plan on expanding this over time to be even more in-depth.
Users will be able to stake governance tokens in the voting process and get bonuses, rewards, and early access all with our governance token.
Q: Can you share to us your tokenomics? How much is the total and circulation supply of your tokens? Will there be buy back system or token burning in the future?
Richard*: Total circulation is 2.5 Bn tokens, we have a total of 6 Bn tokens. As the ecosystem and conjoined economies grow, we have plans long term to do buybacks and burns with our final offering.*
Q: I have a question too. If RAR and NFTY tokens will be made on BSC does that mean ROY chain will have smart contracts or anything like that?
Richard*: We will be migrating any tokens created on BSC to Royal Chain, some may be bridged across other networks in the future just like ROY will be.*
Q: How big is your team sir? Can I more know your team and team background, are you an anonymous team or public?
Richard*: Our team is over 40, we have lots of open position our website,* royalprotocol.io/careers. We have many engineers of varying backgrounds, quite a few people that have blockchain based experience as well.
Currently we haven't created a team page publicly, but we plan to in the near future as development time allows.
Q: What do you think is the future of digital collectibles and NFTs and how then does $ROY plan to be at the forefront of this innovation?
Richard*: Royal Protocol plans to have a guiding hand in the future of digital collectibles, products, and NFTs. We are working on getting two patents in this space pending. Commercial product offerings are planned in our NFTySwap marketplace.*
We also have other unique things we are doing with NFTs I can't discuss yet but am very excited about!
Q: During these days, be a multi-chain platform is an obligation to be considered a competitive project, so can you explain who how many chains are you able to support?
Richard*: We plan to have multiple chains ourselves and cross initially between ETH and BSC. Our goal is to be a major chain that others are trying to integrate, our vision doesn't stop even when all major chains are bridged.*
--AMA End--
Congratulations to all the winners! More to come from Royal Protocol!
--Sad Decisions
