Recap: Telegram AMA with AllianceBlock’s CEO and Co-Founder Rachid Ajaja and dua’s Chief Payment Officer Ardit Trikshiqi
With the recent announcement of the dua token sale, our Co-Founder and CEO Rachid Ajaja sat down with Ardit Trikshiqi to talk through requirements to participate in the funding round, how Nexera ID could be leveraged by dua, answer community questions about the funding round and more.
DUA is the first project to take advantage of our peer to peer, fully decentralized capital raising platform — Fundrs. Their token sale started on Wednesday 23rd November and will continue until 14th December 2023. You can find out how to participate here.
To mark this milestone, our CEO and Co-Founder Rachid Ajaja jumped on Telegram and had a discussion with dua’s Chief Payments Officer Ardit Trikshiqi. They discussed AllianceBlock and dua’s relationship, how both projects are excited to be a part of the first decentralized capital raising process, some questions the community had to participate in the token sale and plenty more. They also go on to talk about exciting topics such as SocialFi, the vision and opportunity of dua, and tie it all together by answering some important community questions at the end. Lets have a look at what was discussed.
Note: The following transcript is curated for clarity, but you can also follow the discussion on our Telegram here.
Rachid, CEO and Co-Founder AllianceBlock: LET’S GOOOO! Super cool to be here.
Ardit, Chief Payments Officer DUA: Heyyy. How is everybody?
Rachid: First of all this is an amazing time for us, we have been dreaming about Fundrs since 2018. It was the reason why we started AllianceBlock, now the timing can not be more perfect.
The first FULLY decentralized peer to peer funding platform with no middleman and no one that can take over the fund of the users. Users have full control and also we have the first product in its kind of trustless identity verification where people can share encrypted and authenticated data. I don’t know if you guys see the potential especially given what happened with Celcius, FTX and all the bad reputation that these actors gave to crypto.
So I want to thank first Ardit Valon and their team for trusting us to be the first project on Fundrs. I also want to thank from my heart all our community involved in this, this is just the beginning and now our products are starting to be out we will be able to release the full version.
#bythecommunityforthecommunity
Ardit: Amazing. Thank you Rachid for this great opportunity, and great to be here and take all community questions.
NO MERCY
Rachid: For people that don’t know, the story with dua started in early 2021, and after 6 months Dua Foundation started to be designed, we have been involved with the team since the beginning and giving them all the learning from our journey, the team has been outstanding and real no mercy, we can’t have better as first project.
Please this is not investment advice, everyone need to read all the materials, but I am here to expose this journey and how this milestone is very important to us.
Valon Asani, Founder DUA: Thank you Rachid — congrats once more on the successful Fundrs launch! We’re proud that we got the opportunity to launch together!
Ardit: We could not have started better. I want to give a huge thank you to all participants who waited yesterday with us in the last seconds before opening the tickets sale. You are now part of the DUA community. And a big thank you to AllianceBlock, Fundrs and TIDV team for making this journey as smooth as possible.
Rachid: Absolutely, the community was really supportive for this first launch, this is the AllianceBlock family.
Ardit: Lets give you a short info of what happened and why we are doing this now. We reached already 13% of the target goal in the 1st day and we still have 20 days to go #nomercy until December 14th, 17:00 CET. It’s important to understand why we started our DUA private sale now despite the bear market.
Rachid: Absolutely, and what is the mission and vision behind Dua.
Ardit: ✅ We have 2 great products: dua.com & Spotted up and running
✅ We have already crossed $100K MRR
✅ Over 5 Million registered users and counting
✅ We are close to Break even and have a clear future strategy
✅ here to stay long term no matter the market
✅ we have a great partner, AllianceBlock, which are building products for a multi billion industry
✅ Clear roadmap strong team and ALL in execution
Whatever is going on in the market, we are here to build. Our goal is to create an ecosystem where DUA empowers the people who use and hold it. DUA is a great example of Social Web 2 going towards SocialFi Web 3.
Rachid: Finally, I can share the demo of NexeraID based on our #MetaNFT standard. This solution will completely disrupt the space especially given what has been happening lately with FTX.
I like the term SocialFi, and actually this is really inline to a true participative ecosystem that we have been speaking about. To have a real participative economy we need the SocialFi pillar, which has to be built on transparency, trust, privacy and inclusivity. These are very important for the success of such ecosystems.
I do believe that another crucial component of SocialFi is Identity, this lead us to NexeraID which will be the first product that is solving three of the most important problems that we are facing currently:
- identity
- privacy
- self-custody
For those that haven’t seen the video of our demo you can check it here
Rachid: Why am I speaking about NexeraID?
First of all NexeraID is a self-custodial identity solution that leverages zero-knowledge proofs of identity for storing verifiable credentials within your soul-bound MetaNFT token. This allows users and institutions to have programmable smart wallets with multi-factor authentication and to customize their recovery rules in case of hacks, lost private keys, or mnemonics.
SocialFi need an identity solution and I am very happy to say that Dua is not just raising on Fundrs but they will be the first builder that leverage AllianceBlock technology. The first product will be DUA Social ID which will be built on top of NexeraID SDK, this will allow 5m users having their digital passport that has all their action while having security, privacy and self custody within the same solution.
Super excited about this
Ardit: This is pretty amazing. I mentioned it before. Nexera is out of this world.
Rachid: DUA Social Id will be even huger.
Ardit: With the introduction of NexeraID, we will see a new paradigm shift on how people think about self-sovereign IDs and custody. Not your keys, not your coins is something to be considered because it’s just basically true, and we have seen that with the recent news.
People need a new digital passport in the new era of web3 apps, that is soul bound, private and secure and most importantly can be recovered in the event of a hack.
We at DUA are completely aligned with AllianceBlock’s vision in providing users (individuals and businesses) with their own self-sovereign IDs which represents one of the elements in our 3-tiered DUA ecosystem.
As Rachid mentioned, NexeraID will be integrated into our own identity solution. This will allow our 5M users to not only preserve their credentials but also allow them in the future, when our in-app wallet is live, to borrow from lending protocols when users need to fulfill certain conditions. This will be done using ZK-proof.
But more on this very soon!
Rachid: What do you think if we go over some questions our community might have in order to participate in the token sale?
Ardit: Absolutely, let’s dive right in!
We have collected some community questions and i will share with you some feedback and guides on topics that were raised here or on Twitter
Connecting globally fragmented communities DUA Fundraising on Fundrs by AllianceBlock!
Most importantly, everyone can find more information at our TG Community chat.
Join us and shoot any questions you might have. We are here for you!
There was a question regarding geographical restrictions;
Rachid: Please guys join the channel and ask all the question and ofc be #nomercy
Ardit: At the moment anyone but nationals from the following jurisdictions can participate:
Afghanistan, Belarus, Burundi, Central African Republic, Democratic People’s Republic of Korea (DPRK — North Korea), Democratic Republic of the Congo, Guinea, Guinea-Bissau, Iran, Iraq, Libya, Myanmar (Burma), Nicaragua, Russia, Somalia, South Sudan, Sudan, Syria, Ukraine, United States, Venezuela, Yemen, Zimbabwe
Another question was regarding what happens if a TIDV request is denied.
In this case users will see a notification on Funders or TIDV that they were rejected. They need to get in touch with us through this email.
More information on how to proceed will be provided.
On the other hand, if access is approved users will see a notification on fundrs.app when connected with their wallet. It is also important to mention that the only supported docs are passports and ID cards, so please DO NOT use driver’s licenses or any other documents. There are 2 more errors that users may see such as REFER for the high-level results. The status REFER means that one or more of the documents in the case did not pass authentication checks.
Don’t forget that we launched on the Avalanche mainnet.
Just a few things before we go to the community questions
To be eligible for 1 ticket you need 1,000 rALBT
1 tickets is 500 USDC (on AVAX)
Rachid: Thank you Ardit for all the valuable informations.
Ardit: Remember:
If you have not yet staked in Fundrs, it’s not too late to do so and earn enough rALBT to participate in the private sale.
Rachid: I got one question on twitter which is:
Question Hi Rachid, I do not understand the benefits of Albt staking. Can the rALBT received be converted to spendable Albt. If not, I do not see the value of staking. Can you explain? Thanks.
The answer is that in Fundrs everything works with rALBT, the only way to have rALBT is to stake ALBT. rALBT has no monetary value but has intrinsic value because thanks to rALBT, users can get tickets to participate in fundraising. This brings big utility to ALBT.
Ardit: We have a nice tool for you to see what amount of ALBT is needed to be staked and in how many days you will earn rALBT. You can found the tool here.
Now let’s jump into some community questions.
Question: Is there any utility created for DUA for now?
Answer: Tokenized matchmaking
Users will earn $DUA from various in-app activities that will further improve and maintain the community goals. $DUA will be used for in-app purchases like premium subscription and ads purposes.
DeFi Gateway
dua’s in app wallet will provide all the DeFi features that power an inclusive economy for the unbanked (on/off ramps, lending, borrowing, swaps)
Identity
dua ID will provide users and new businesses with a sovereign identity, verified and owned by them, eliminating fake/spam users and enabling effective user targeting for advertisers.
Rachid: btw for information, DUA has done successful series A one year ago, on the token side there was no VC involved and Fundrs is the first platform to bring $DUA to the community, and this was always our objective is to have the same VC opportunity to our community.
Disclaimer: again this is not an investment advice and please do your own due diligence and research, all the documentation are out there stay #SAFU TZ
Ardit: Noooooow we are opening it for community questions about the token sale. Lets gooo!
Question from Chlorophyll: On your website you don’t mention that you have done any internal or external audit of your smart contract, so can you give us details if you have done any audit before? And in case you haven’t, would you plan to perform any review of your smart contract in the near future?
Ardit: So our apps (dua.com & spotted.de) are web2 apps, therefore no auditing needed. Our web3 components (smart contracts) will be soon developed and will of course undergo the proper auditing.
Question from Muskaan: When will there be access for South Africans?
Ardit: Yes. South African nationals are allowed in the private sale.
Ardit: Someone asked about the vesting schedule.
You can find it in the project page at the bottom. Here’s the official sheet.
Question from Zachster: Is there any way funders can get more involved in the development of dua other than buying tokens?
Also, any preferences on CEX vs. DEX for the first listing of the token on secondary markets?
Ardit: So we have been incubated by AllianceBlock, which is also part of the vision of Fundrs.
We cannot comment on exchanges unfortunately.
Another question from the community
Question: I want the DUA team to address the Valuation no’s and its public sale during the AMA. I will attach this thread link for reference.
Ardit: We have 4 apps (2 iOS and 2 Android). In just 2 years we have reached over 5M users, completed seed and series A round. Swiss and international investors have backed and supported dua since the beginning.
Considering we are still in stealth mode, when talking about the communities of our apps, and our very talented team (50 people) we believe we are prepared to build the next community app targeting fragmented communities.
Question from Zachster: Rachid If I get this right, NexeraID is part of TIDV? Or is it a separate ID solution?
Rachid: it is built on top of TIDV :)
Rachid: This is really cool Ardit and huge thanks for your time as I know how busy you are. I really appreciate it.
Thanks to all our community for being here. if any more questions please go ahead, if there are other question on Nexera Id please leave them here and we will answer to them as well
#nomercy
Ardit: This is amazing, Rachid. Thank you very much for this opportunity.
Thank you to the whole ALBT community.
Remember, we are here together. We are only strong together.
About AllianceBlock
AllianceBlock is building seamless gateways between TradFi and DeFi by remedying issues in both spheres and linking them more closely. AllianceBlock sees the future of finance as an integrated system in which the best of both worlds can work together to increase capital flows and technological innovation.
They are building this future by bridging traditional finance with compliant, data-driven access to new decentralized markets, DeFi projects and ecosystem-scaling tools such as funding and interoperability. As such, they are building a next-generation financial infrastructure that aims to provide regulated financial entities worldwide with the tools they need to access the DeFi space seamlessly.
Be sure to follow us on Twitter, follow us on Telegram and subscribe to our newsletter so you don’t miss out on any important AllianceBlock news or updates.
You can also find us on:
Telegram · Twitter · Instagram · Discord · Website · LinkedIn · YouTube · Reddit
