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Recap to the 20th May Community AMA #3 on Telegram

Recap to the 20th May Community AMA #3 on Telegram

Hello community, thank you for joining our monthly AMA session. If you’ve joined us in our previous community AMA, welcome back to another edition of the much-anticipated Telegram session in which our core team will answer some of the most commonly asked questions about Morpheus Labs and SEED.

Throughout the past few weeks, we’ve received an overwhelming list of questions from our community. Due to time constraints and to keep things under one (1) hour, we will be picking a few commonly asked questions. Fret not if your questions were not picked, you are always welcome to send in your questions to our email 🙂 

Introduction for 20th May 2021 AMA

Let us begin the AMA proper. 

AMA Questions

1. In the Marketing Roadmap, there are many activities planned for Quarter 2. Why do you think Quarter 2 is so important and can summarize the progress of those activities? (Bruce Lu)

Before I talk about the progress update for Quarter 2, I would like to share this – 

We have just refined our business goals (a higher target) for the next 5 years starting from Q2. To start, we are adopting the integrated marketing-driven approach – “ Integrated Marketing, Business Development, Technology Management and Community Management program (IMBTC) – This is based on the marketing roadmap layed out earlier in the year. 

According to sprints in the marketing roadmap for Q2, we are enhancing the branding and positioning of Morpheus Labs and SEED platform. We are hiring talents, putting more resources and working more closely with the community to spread awareness about MITx.

For key technical milestones, we have issued the first batch of MLCT (Morpheus Labs Community Token) using our NFT Launch Pad for our Sticker and NFT Design Competition winners. The NFT launch pad is able to issue ERC721 NFT tokens on Matic network with no transaction fee for users. The NFT Tool is developed and running with SEED.

We continue our focus on Education. We are supporting blockchain training in Munich Applied Technology University using SEED.

Morpheus Labs is currently – alpha testing for the SEED Staking. We will have a community campaign in June to beta test the SEED Staking. Once SEED Staking is live, it will be able to support MITx staking for various marketing, community and SEED platform campaigns.

We are adding attractive SEED features to cater for more use case scenarios. API Library will allow users to easily composite dApps leveraging existing SEED functions using APIs, it is under alpha testing now. External App Library will allow the public to explore the dApps in the SEED App Library.

The last but not least, Gasless Swap. There are a lot of queries on this, especially when the gas fee is high. The SWAP is being designed and prototyped. It aims to reduce the gas by leveraging different technologies. Based on the current design, it will be running on BSC, Matic and Ethereum with wrapped ERC20 tokens.. When the SWAP is up and running, users can perform basic swapping functions as in other Swap tools, but with reduced gas. And the wrapped MITx attempts to be used as the governance token and reward token. We think this will increase the demand for MITx.

Eventually the SWAP will be handed over to the MITx community to operate in a DAO mode. We would need to give a name to the SWAP tool, for example, we can call it “Morpheus Swap”? Look forward to feedback from our community.

2. What are the new product features being added into SEED? Which features would you expect to increase MITx token usage? (Dorel)

We are adding API Library, Externa Library, Campaign staking on SEED, in addition, Staking for different campaigns, Gasless SWAP built using SEED, all these will help increase MITx token usage.

3. Are you guys still looking to implement NFTs according to your road map? Will the Swap be put ahead of that? (Bruce Lu)

The NFT Launch Pad has been implemented and running on the Polygon / Matic network – which allows users to issue ERC721 NFT tokens with no transaction fee. The issued NFT Tokens can be automatically displayed on OpenSea where users can then sell the NFT tokens on OpenSea.

The next step, we will add this NFT Launch Pad as a SEED service to benefit platform users.

For the Swap tool is one of our focused products, we know the urgency of rolling out the Swap tool, and we are putting more resources to get it done.

4. How much percent does the gasless swap tool reduce the gas price? In other words, what is its efficiency? When will the gasless swap tool be released? (Bruce Lu)

 We are aiming to minimize the gas fee as much as possible. It depends on the transaction scenarios, the reduction level of the gas fees would be different. In overall, it will be significantly minimized, we will share more info after our testing. It will be gasless on the Matic network for specific types of transactions.

Due to the sensitivity of the nature of the Swap tool, it would require rigorous design, testing and audit. It would also need to cater to run by the community in a DAO mode, so would need some more time to get it fully ready. But we are planning to release the alpha version in June and the beta version in July.

5. When will MITx be listed on BSC? (Bruce Lu)

There is an existing BEP20 ⇔ ERC20 bridge provided by Binance , but it does not include MITx. We are using SEED to have our own bridge, once the bridge is up and running, we will list our MITx BEP20 on BSC. The bridge can run independently and be part of the Swap tool. The current plan for the beta test of the bridge is at the end of June.

6. Any plan for the next step with Huawei and other cloud providers? (Dorel)

Morpheus Labs SEED platform is integrated into Huawei Cloud in 3 phases. 

[Phase 1] is to onboard the SEED platform on Huawei Cloud … See the details from this post: https://www.morpheuslabs.io/2021/blockchain-meets-enterprise-in-huawei-cloud-through-morpheus-labs-seed-platform/.

[Phase 2] is to add Education specific features on the SEED platform running on Huawei Cloud. The team is working on this 

[Phase 3] is to integrate Huawei Cloud native services into the SEED platform … Huawei Cloud and  Morpheus Labs are working together to acquire more users in enterprises and Education to develop and deploy blockchain solutions using SEED on Huawei Cloud … 

We are in the early discussions with a 3rd cloud provider. Stay tuned, more info about this will come.

7. What is the next GTM step after Huawei and New Senior Advisor Hock Lai (Founding President of SFA and BAS)

  • What will be our main Focus (Education?) and why?
  • Any initial success to share?

(Pei-han)  

We are in talks with Huawei (various departments) and working on a few verticals in parallel. For all concrete steps take time to discuss, finalise and implement. After the recent successful workshop and hackathon run by MLH and Icon using MLSEED, we have an ongoing blockchain training in Germany for the students of Applied Science University of Munich which we will provide more information in this Quarter. This mark our first step in expanding platform use in  education globally.

Concurrent works are in progress with Huawei to capture markets and go into more in depth and tighter joint collaboration in a few key verticals. 

The team is working with Hock Lai who joined us earlier in the month; to facilitate business connection within ASEAN region. We are expand further to drive up Adoption via increasing partners reach

We are also in the process of onboarding BD veteran who has great business network to push our Go – to market 

8. We have seen campaigns in the SEED platform, and how the SEED Staking is related to the SEED campaigns? (Dorel)

The first MITx staking was done in a KuCoin Staking campaign. One of our goals of the staking tool is to link a simple MITx staking function to the existing ML SEED  platform campaigns. 

From a ML Seed campaign, using the staking tool, campaign sponsors can purchase and lock MITx as liquidity providers to sponsor the campaign.

9. Marketing Influencers (Channels to spread) play a key role in Q2?

  • What do we intend to do to gain wider audiences 
  • What can we see to increase community engagement

(Pei-han)

Our marketing strategy will be in reference to the marketing roadmap released earlier in the year. More influencers have been talking about us, good and enthusiastic ambassadors have joined onboard and promotional campaigns with Kucoin are being ramped up. In the next phase, we would be polishing up product-focused marketing and pushing it across social media mediums – effectively.

We will continue with Monthly AMA, holding regular community campaigns and increasing our engagement with the public through various methods like Twitter, Instagram, external AMAs – These are just some of the examples. Actual methods will vary accordingly. 

10. What do we expect for Q3 of 2021? (Bruce Lu)

According to our Marketing roadmap and the technical milestones, the following will be delivered in quarter 3:

  • Increased social media activities 
  • More marketing campaigns to encourage contributions from community members 
  • Gasless SWAP V1
  • Polkadot integration on SEED
  • SEED Sandbox for Education
  • SEED Sandbox cod FSI
  • Huawei Cloud native service integration 

And these milestones will significantly increase the MITx usage on SEED.

11. When will mitx be listed on other top exchanges such Huobi, Okex, Binance? (Pei-han)

To list on a bigger exchange is definitely something we are working on and plan to do. We will definitely keep you all updated.  


About Morpheus Labs

Morpheus Labs is a Singapore-based blockchain-platform-as-a service provider offering the most powerful tools, scalable infrastructure and ready-to-use solution templates for enterprises and blockchain developers on the multi-cloud capability to build, deploy and manage innovative applications with cost and time efficiencies. The platform offers a multitude of intuitive solutions that enables developers and enterprises alike to take advantage of its platform to build effective solutions for various use cases.Morpheus Labs SEED is also purposefully designed to create a friendly ecosystem convenient for students and professionals to learn the complex environment of blockchain, giving them a head start to blockchain development and propelling them into the talent-hungry blockchain development world.With more than 25 stacks, 9 programming languages and 9 blockchain protocols to play with, students from all over the United States and Europe leverage Morpheus Labs SEED in hackathons at their own universities, powering over 200 weekend-long invention competitions that inspire innovation and cultivate communities to more than 65,000 students around the world each year. Start building for free on Morpheus Labs SEED!

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