Poltergeist Labs — Ask Us Anything RECAP (08/31/21)

Here is the summary of the AUA made by the Poltergeist Team on August 31st.

Q1) With your link to alpha polter dex would it be safe for us to transfer our funds there? :)

Our current alpha is on running on Kovan network so the safest place for your tokens right now is right within your own wallets :)
We wanted to have this session more like a community discussion where we share some details and you ask us questions about what we’re doing :)

Q2) How will ghostDai fees be distributed to Ghost holders/stakers?

We’ll support farming and staking on our platform, so in the case of ghostdai fees, this would be made available when we’ve built our scalar anon txns tech. Those that would stake their wrapped ghost (ghostx) to this feature, would earn from gDai fees from the staking pool. Stakers would then need to claim it.

Q3) Will there be LP farming?

Yes, there will be… this feature will be ready soon.

Q4) How will Ghoul staking work and what % apr can we expect?

We’ll provide more details about this at a future moment in time.

Q5) When the launchbox will be live?

We’ve put launchbox on pause until we have more functionality available within our mainnet dapp as the next steps of the launchbox build would require this to exist.

The AUA is paused to show a new feature for Poltergeist

James (Cosmic Anon): Folks before I answer more questions,I want to share the link to what we’ve been working on :)

You’ll need to connect your metamask to kovan network

It doesnt look like much now as our focus has been more on back end functionality. Here’s what you can currently do alpha:

  • An user can create a vault (this would be personal to them)
  • Within this vault, a user can deposit their ETH (and soon Ghoul and more)
  • Then a user can “borrow” gDAI — this is with 0% interest and up to 2/3 the $ value of tokens added to their vault.
  • This “borrow” action effectively mints gDAI to the vault owners wallet.

1gDAI ~= 1DAI.
What we’re still building out is the ability for one to:

  • use Ghoul as the collateral to mint gDAI.
  • use GhostX (wrapped Ghost) to mint gDAI as well.
  • Deposit their Ghoul, Ghostx, ETH either into farming pools or staking pools to earn yield rewards while providing liquidity for the protocol to function optimally.

All of the above will be the starting components to then begin building the rest of the Ghoul ecosystem and the varied usecases we have on the board. Farming and staking rewards will be a combination of gDAI and Ghost and some surprises that we’ll reveal soon. To bring in more of this community into the inner workings of some of the things we’re doing, heres a link to our Trello board where you’ll see a bit of the scope of things.


The AUA continues..

Q6) How we create ghostx?

This is currently under development. It’s an interesting task for the team to attempt merging a privacy chain with a public chain.

Q7) Is there any timeline set for the mainnet?

Being real, I’m usually the one that avoids giving timelines for these things as I do not operate in conventional timescales, I would say though that over the next couple months you will begin to see things shaping up :) — if you’ve seen the roadmap, great things take time to build. The foundation must be built right, flexible and secure.

Q8) Okay so a question about scalar anon txs… On the trello it says classified atm. Could you give some info about it… Are they gonna be fully private or will they be backtracable?

I’ll give 1 example: Alice uses a web3 site to order something, Alice spends $3 gDAI on public chain for something.. no one actually knows how much Alice paid for it.. everything else is untraceable via Ghost chain.

it’s always funny trying to explain privacy stuff when the word itself implies unknown lol, but it can be huge if you know how to wield this piece of tech.

Q9) will 100% transaction fees still go to ghoul stakers (sorry I’m late to the party) and also any plans for ghoul merch?

Yes, though for initial testing, this will go to those of have GhostX staked on Ghoul Dapp.

And Yes will have Ghoul merch, both virtual and real, will come soon.

What you’re seeing on alpha ghoul.finance is just the beginning, part of it now will be on public chain. As time continues, the private layer will be connected up.

Thanks for participating, direct link to the AUA here — https://t.me/poltergeistlabs/24799