RECAP#AMA786
#AMA786
CryptoFury x Crust Network
⏰ Time: January 6th , 12:00 PM UTC
💰 Reward Pool : 10 CRU
💎 Place : https://t.me/CryptoFury_Chat
Question for Part 1- Project overview:
- Could you please introduce yourself and Crust Network team?
Nguyet Le :Thanks CrytoFury for having me today
I’m Nguyet Le — Community Lead from Crust Network. Crust network was founded in 2018 by Leo Wang and Bova Chen. Leo Wang was developer for Cisco and Microsoft and Bova Chen has background in finance and investment. Both of them had many experience in startup before they started Crust Network. The company is based in Shanghai but our team now has more than 40 people around the world. Our team is backed by Decentralized Cloud Foudation and several big Venture capital like NGC Ventures, Bitcoin.com, etc.
2. Can you briefly introduce Crust Network? What is your Roadmap and where are you now?
Nguyet Le : Crust Network is a decentralized storage blockchain. Crust is based on a huge IPFS storage network and is responsible for scheduling nodes and orders. Users’ files are distributed and stored on the hard disks of nodes around the world through the Crust network, and then the working nodes will get corresponding incentives.
The initial development team of Crust was established in 2018 and has undergone two years of development. In December 2020, the incentive test network “Profit Ark” was started, and the test on the node side (storage space provider) was opened. The Crust Maxwell Preview network was launched in February 2021, and the storage function was tested. The Crust mainnet was officially launched in September 2021. At present, the Crust mainnet has a total of 2 EB of storage capacity allocated around the world, and 2EB is approximately equal to four million personal computer hard drives. Crust community developers are constantly optimizing the network, and the Crust public chain is now available for commercial use. Community developers have developed Crust Files, Skyekiwi, SwitchSwap, Decoo and other applications based on the underlying Crust.
The next most important task for Crust is to enter the market, allowing more and more people to experience private, cheap, fast, and data ownership-oriented decentralized storage.
3. Partnership is like a supplement where the combined effect is beyoung the individual level. Can you name some of your recent partnership that can help your project?
Nguyet Le : We have integrated our product on multiple chains and have close relationship with them like Etherium, BSC, Polygon, Solana, Flow, Near, Heco, Elrond etc. Recently we attend the parachain auction on both Polkadot and Kusama and won the 19th slot on Kusama. We also partnered with Moonriver to allow developers to utilize Crust’s decentralized storage capabilities. We are hosting several dapps like Uniswap, Aave, IPFS, Liquity etc.
Part 2: Pre-selected questions from our community
1.Can you introduce the functions and usage scenarios of Crust Files? What are the differences and advantages between it and the cloud service we usually use?
Nguyet Le : Crust Files is the world’s first Web 3.0 personal file storage application, launched by Crust Network. The Crust Files application enables safe storage of your personal files on IPFS, secured by the Crust Network public blockchain.
Crust Files are just like the Google Drive, Dropbox, Baidu Netdisk and so on that you usually use. You can store your life files, photos, and videos here; you can also upload large-size work files and generate links to share with your work partners; or share movies and study materials with your friends.
The biggest difference between Crust Files and traditional cloud service is the underlying network of storage. Centralized storage applications will centrally store users’ files in their computer rooms, while Crust will store users’ files in a distributed manner on the hard disks of nodes around the world. Therefore, Crust storage can bring users higher data security (no centralized control), faster file pull speed (you can pull files from nearby nodes around the world), and cheaper storage prices (Crust nodes utilize the idle resources of the computer, and the cost is lower than that of a centralized computer room).
2. As far as I know, people can log in to Crust Files using almost any Web 3.0 address. What features does Crust Files Premium membership have more than ordinary users?
Nguyet Le : Yes, currently using Crust Wallet\ Polkadot (.js Extension)/ MetaMask\ WalletConnect\ Polygon\ Moonriver\ Near Wallet\ Flow (Blocto Wallet) \ Solana (Phantom Wallet)\ Elrond (Maiar Wallet) can log in to Crust Files for free enjoyment File transfer and storage functions.
With a free account, users can enjoy a file size limit of 32mb and 100mb total storage space.
With Crust Files Premium you get access to end-to-end encryption for all your uploads, file size limit is raised to 1gb per file and you get unlimited storage space.
To become a Premium user, you need to have a Crust wallet address (Crust mainnet address), and then stake 5 CRU to your account to enjoy all the premium membership functions. (5 staked CRU can be withdrawn after 180 days)
On the occasion of the New Year, all users can enjoy a 40% discount for the New Year, which means that you only need to stake 3 CRU. If you register through another person’s invitation link, you can get an additional CRU reduction, that is, 2 CRU.
3. The SHARE — and — EARN campaign you launched this time has a total of $50,000,000 rewards. How can users get rewards?
Nguyet Le : In order to promote Crust Files and allow more people to join the Web 3.0 storage, we designed three attractive Programs, giving participants a total of $50 million in rewards. The three programs are as follows:
- INVITE BONUS
After you become a premium member, you have the right to invite others to try Crust Files. After others register as Crust Files Premium membership through your invitation code/invitation link, you will get 1 CRU/recommendation reward. You can invite unlimited users. - LUCKY NEWBIE
There will be a 30-minute countdown on the event page, and the last premium user at the end of each countdown can get all the rewards in the prize pool. Every time a new premium user is added, the prize pool will increase by 0.4 CRU, and the countdown will be refreshed to 30 minutes. - GRAND DRAW
After becoming a senior member, you can receive a lottery ticket. Whenever the total number of premium members reaches a certain milestone, an open and transparent face lottery will be held. The bigger the milestone, the higher the prize pool! So, don’t forget to return to the Share — and — Earn page frequently after the lottery to see if you are the lucky guy!
4. How are the rewards withdrawn and do they need to be unlocked? If I want to become a Crust Files Premium member, how can I obtain CRU?
Nguyet Le : If you get rewards through the Share — and — Earn event, your CRU is released immediately. You can see your rewards at the bottom of this page, click Claim rewards, and you can immediately withdraw your CRU.
You can choose to obtain CRU through decentralized and centralized exchanges. It is recommended to use Gate.io to purchase Crust Mainnet CRU directly. You can also use the swap function on the Crust official website to directly purchase the mainnet CRU through SWFT (https://swap.crustapps.net/#/swap (https://swap.crustapps.net/%22%20%5Cl%20%22/swap) ).
5.Are there any benefit by holding your token, for example any reward or incentives?
Nguyet Le : The current APY for staking our token is 100%. Also, we continuously reward our token holder by events like this share and earn event, where we airdrop 25,000,000 usd to our early premium user (aka people who stake 2 CRU)
Last question before ending:
Any other things want to share with the communities
Go to https://crustfiles.io/ to try our premium services and share the pool reward of 50,000,000 USD! Use the code ‘premium’ to get the discount when you register for our premium services
Our social media links:
Telegram: https://t.me/CrustNetwork
Twitter: https://twitter.com/CrustNetwork
Discord: https://discord.gg/YNqbr7NG
Join our telegram channel to get updated with our latest news and attend rewarded event!
Question for Part 3: Guests will choose 5 live questions from members and answer directly in CryptoFury Community
1.Crust Network allowing anyone to participate as a storage provider and get the reward from protocol fairly. What are the conditions for becoming a hosting provider? Can you explain how crust network’s reward system works? Are all rewards distributed by CRU?
Nguyet Le : To earn the reward (which will be distributed in CRU), you can become validator or guarantor. Validators would need a certain amount of storage resources while guarantors only require some CRU to stake into our network. The current APY for staking of guarantor is 100% and it is even higher for validator, who provide storage. For details on requirement of validator please check https://wiki.crust.network/docs/en/validatorGuidance
2. What are the main applications of Crust Network ? Will it support off chain data storage or will all the data be stored on the chain itself ? If the data can be stored off chain , then what type of data will it consist of ?
Nguyet Le : We support off chain data storage, i.e., people can provide storage to get rewarded in our token. We can store any types of data that google drive can host like image, video, text, etc.
3. What is a thing of Crust Network project that cannot be found in your competitors’ projects?
Nguyet Le : Since there are too many projects out there who are doing a similar things, we will pick Filecoin as an example. To retrieve files that you stored from Filecoin, you need to submit a retrieval request, so it will take sometime. If you store your file with Crust, you can access the file immediately without waiting time, and you don’t have to pay for retrieval request.
so real-time retrieval is a thing that we are very proud of our product
All details about Crust Network could be found below
🛢 Website: https://www.crust.network/
🛢 Twitter: https://t.me/CrustNetwork
🛢 Telegram Chat: https://t.me/CrustNetwork
