AMA Recap Crypto Library with Momento

  

 
On 2nd October 2021, Momento conducted an AMA in the Crypto Library Community. Our guest is Sumangal Dutta, Arindam Batabyal and Mark Wood. Lots of questions as usual from the Community about Momento progress. The Momento team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into Momento.

Let’s take a look at the most interesting points of our conversation.

INTRODUCTION
Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?
 
Sumangal Dutta (Momento) : So I am Sumangal Dutta, CMO at Momento. I have been working with this project from the very beginning and I've also worked with a lot of other successful projects in the space. I have been in the industry since 2017 and I like to play sports during my free time (which is very less as you know how engaging crypto can be :))

Aridham here is the Marketing advisor at Momento and he's very passionate about NFTs and has worked with a lot of other prominent projects in the past.

And Mark is the tech guy at Momento

 
Mark Wood (Momento) : Hey I'm the tech head at Momento and I absolutely love this project and would love to answer any tech questions that arise here.

FIRST SEGMENT (HOST)
Crypto Library Team : What is Momento? and how does it work?
 
Sumangal Dutta (Momento) : Momento is a DEFI+NFT project that aims to solve some of the most important problems that we face in the NFT industry right now. We see a lot of projects where people do not understand the kind of NFTs they are buying. On top of that, another issue that arises is with the illiquidity of these NFTs. It’s not possible to sell these NFTs unless another person is willing to buy so unlike a token where if it dips, you might end up losing only a portion of your investment, for the NFTs you might end up losing your entire investment. This is where we come into the picture by incentivizing our people to buy the NFTs and to provide them a way through which they can earn through the NFTs they buy 😎
So for all of our NFTs, we’ll be providing a one of a kind staking feature where people just stake their NFTs in a pool and get Momento Tokens as a reward. Less than 3% of the projects out there provide such a feature and we aim to provide the easiest way in which someone would be able to stake NFTs. It’ll just be a couple of clicks. We have a lot of other utilities as well which we will be sharing as we move on :)

We do not aim to create NFTs which are hard for people to understand. For example, there was an invisible rock that sold for a lot of money and people were going crazy as to why it went for that much money 🤯 Our NFTs would be easy to understand, yet elegant and would have its worth even without any additional perks with it as you’ll be seeing soon once the NFTs are out. On top of this, we provide features as mentioned above that will enable the NFT holders to earn through the NFTs they buy. So it’s like passive income for people, reducing their risk with the NFTs they buy and a lot of additional perks that will enable them to earn. 😎

 
Crypto Library Team : Please tell us about $MOMENTO token! What are the token use-case, distribution, and also where we can buy it?
 
Sumangal Dutta (Momento) : 
The tokenomics for MOMENTO are as follows:

Total Supply – 1 trillion

60% - Liquidity
26% - Burn
12% - Staking
2% - Marketing and development

There is a 10% tax for every transaction:

3% - Goes to liquidity. (This enables us to create a price floor for Momento below which it cannot go.)

3% - Gets redistributed to holders (Passive income for just HODLING)

4% - Goes to the buyback and burn wallet. This is in order to ensure that there are no major dumps that take place and we can sustain a long term upward trend. This wallet is accumulated in ETH and can only be used to buyback Momento tokens and can never be withdrawn by the team so the community can feel safe about it. Also the tokens get automatically sent to the burn address once bought. This is also one of our Anti-Dump measures.
If you have a look at our buyback wallet now, you can see that it has already accumulated a massive amount of ETH since our launch and this will be used in order to ensure that there are no major price dumps. We will be using this from time to time to ensure that our community feels safe with their investment and we maintain a long term upward trend 🚀🚀sssssssssssssss

MOMENTO is a multi-utility token

We provide our holders with an array of reasons to hold on to Momento:

1. In order to Buy the NFTs, people will have to use MOMENTO and a portion of this would be burnt thereby reducing supply over time and making our tokens as rare as the NFTs we create.
2. The staking rewards from the NFTs would be provided in Momento tokens itself.
3. We’ll be having additional staking features for the Momento token itself.
4. There will be token redistribution to the Momento holders from every transaction that takes place so it’s passive income for just hodling.
5. The NFT holders will be getting a portion of the revenue generated from the subsequent NFT sales and this would be in Momento tokens itself.
6. We also have a governance feature planned where the token holders would be getting a say in the future proposals of the project such as the Kinds of NFT categories, redistribution, etc.

We are currently listed on the following exchanges:

Uniswap - 

Pancakeswap - 

Apart from this, we also have a CEX listing and fiat-to-crypto gateway planned in the near future! 😉

 
Crypto Library Team : Could you explain a little about your upcoming NFT plan?
 
Sumangal Dutta (Momento) : Sure ☺️ So basically we’ll be selling our NFTs in batches. The first batch would be the rarest and so on. Here unlike other projects where they just say that it’s rare, we actually provide a utility to prove that it’s rare.
The revenue that is generated from the NFT sales automatically get redistributed to the NFT holders so this way, they get passive income and are incentivized to HODL on to their NFTs. The earlier batch of NFT holders automatically get redistributed more revenue than the rest.
Apart from this, the NFT holders would be able to stake their NFTs on our platform and earn some juicy returns. This will be a very simple process and would just be a couple of clicks so that it’s very easy for everyone to use 😊
The NFT and Momento hodlers will also have access to some exclusive deals.
 
Coming to the kinds of NFTs, we’ll be having 2 broad categories of NFTs:

1. Cryptocurrencies – Where we portray the journey of some of the most prominent cryptocurrencies out there. We will also be having partnerships with other crypto projects in order to collaborate for an NFT collection together.
2. General – So here we will be displaying some of the most iconic and fascinating moments of the past decade. This is a broad category and we’ll be having specific categories within this as we move on. Here the Governance feature of Momento comes into play as well and the holders get to suggest what they have in mind  and it'll be done. As we said earlier, we aim to make this a community driven project 😊

Our 2-D mascot has already been created and displayed. The 3-D version of the mascot which is our official mascot is ready as well but we’ll be displaying this in a special event held in Dubai this month.
Our first batch of NFTs are almost ready as well and will be listed soon and it’ll be displayed during the WOW summit in Dubai this month which is the biggest NFT summit for the year. 😎

 
Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?
 
Sumangal Dutta (Momento) : At this point, we are literally crushing the roadmap and our project is not even a month old. In the beginning, we were of the impression that things would take time to flow but are team has been overdelivering on every promise that we’ve given. We recently had a cross-chain swap enabled and a pancakeswap listing apart from our Uniswap listing. So now people can buy both on Uniswap and Pancakeswap and can also use the bridge in order to transfer between the two. We had our Coingecko listing done and we have a lot of partnerships in line that would be announced this coming week. Some of them are prominent projects that everyone has heard of. Yesterday, we announced a strategic partnership with Moontography ($MTGY) which is a well-known project right now and our developer is the same developer as that of FLOKI INU ($FLOKI). YUP THAT'S RIGHT !!!😎
 
We also have our first batch of NFTs coming out in about a week and a Certik Audit is on the way as well. One thing that we are very excited about is our marketing campaign that is set to explode in the coming 2 weeks. We’ll provide more details on this in the coming sections.
We also have a lot of other exciting news such as strategic partnershops, CEX listings and a fiat-to-payment gateway planned very soon.🤩
At this point, the journey so far has been insane and beyond our wildest imagination and we expect the future to be nothing less. We will continue to deliver on everything and do everything we can to get this project the attention and the value it deserves. 😊

Crypto Library Team : We heard that you guys are planning to get featured on BURJ KHALIFA and participate in the WOW summit in Dubai next month. Is this official and could you give more info. On this?

Sumangal Dutta (Momento) : Oh boyyy. This is going to be a big one so brace yourselves 😎

Yes, it’s official and this is something that we are very excited about. No other project in the crypto industry has done such a thing in a short span of time. We will be getting featured on Burj Khalifa for 3 whole minutes where we will be explaining about our project to the entire world and the explanation would be done by our Mascot and a Celebrity (This is going to be a surprise) with the help of infographics 🤩🤩
 
We will be capturing this with drones from multiple angles and then make it go viral all over through social media and PR. We also have an AR Experience planned where people would be able to scan the QR code and take pictures with our Mascot. This has only been done by projects such as Safemoon and Kishu Inu which were already over a billion dollar marketcap at that point. We are currently sitting at a $2 million marketcap so I guess I don't have to tell you guys specifically about the potential that is there here. We are very serious about what we do and only want the absolute best for everything. Whether it's development, NFTs, marketing or whatever it is. We have the absolute best in all areas.  As told earlier, we have massive things planned for MOMENTO and It hasn’t even started yet. We want the whole world to know about Momento and we won’t stop until we get there!  😎

We will also be participating in the WOW Summit, which is the biggest NFT and blockchain event for the year and a lot of other high profiles from the crypto community would be present in the same. Our leaders would be giving a keynote speech on NFTs and how we are solving the issue that currently pertains in this industry. We would also be displaying our NFTs at the event. In order to ensure that we have all the attention on our project, we are going to get a MOMENTO WRAPPED LAMBO at the entrance of the summit and we will also have people wearing a costume of our MASCOT walking around during the summit along with merchandise that would be distributed. We will ensure that the entire Summit is going to be about MOMENTO 😉

 
SECOND SEGMENT (TWITTER)
 
Crypto Library Team : Your participation in NFT. In addition to owning the collectible, Momento wants to ensure investors can get a return on their investment through its community-driven approach. What are the return on investment mechanisms that you estimate to promote at the moment?
 
Sumangal Dutta (Momento) : Momento is a multi-utility coin and you’ll be able to earn through multiple forms:

1. HODLING – You earn passive income through our redistribution mechanism just for Holding on to MOMENTO.
2. NFT Staking – Our one of a kind NFT staking mechanism would enable you to earn from the NFTs you buy in just a couple of clicks
3. Token Staking – We will also be having staking for our native token where you’ll be able to stake Momento and start earning.
4. Revenue redistribution – The sales from the NFTs get redistributed to the NFT holders so the holders are incentivized as they get passive income for just holding.
5. Price appreciation – Most common one ! To assist this, we have a buyback and burn mechanism which will ensure that the only direction we head from here is up 🆙 😎

 
Crypto Library Team : On their website they say that Momento aims to show some of the most interesting moments of the last decade and I was wondering if it would only focus on this type of art, or else it will also have room for NFTs that are not so relevant and those that are relevant but much newer?
 
Sumangal Dutta (Momento) : So currently we have 2 broad categories of NFTs:

1. Cryptocurrencies – Where we portray the journey of some of the most prominent cryptocurrencies out there. We will also be having partnerships with other crypto projects in order to collaborate for an NFT collection together.
2. General – So here we will be displaying some of the most iconic and fascinating moments of the past decade.

This is a broad category and we’ll be having specific categories within this as we move on.
Here the Governance feature of Momento comes into play as well and the holders get to suggest what they have in mind so basically we will be having specific cateogories of NFTs within our broad general category which our community wants and think will bring in demand 😊

THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : On your website you mention that you aim to create a kind of staking feature for NFTs owners, so could you tell us if it is some type of passive income generation or will it require a large investment of time? What benefits will it have?
 
Sumangal Dutta (Momento) : So basically you will be able to earn through our NFTs in multiple forms :

1. Staking - This is a feature you won't see in a lot of other places. You can stake your NFTs in just a couple of clicks and start earning MOMENTO tokens as rewards.
2. Revenue redistribution - The revenue generated from the subsequent sale of NFTs would be redistributed to the previous NFT holders. So just by holding on to your NFTs, you'll start to earn.
3. Exclusive deals - Our NFT holders would also be eligible for exclusive deals. For example, currently we have a lot of events planned in the near future like the WOW summit and the BURJ KHALIFA event. You will get exclusive access to these events.

We are here to change the philosophy that NFTs can only be held as a collection. You can actually earn by buying NFTs and we are proving it.

 
Crypto Library Team : Since global trade competition is getting stronger, and liquidity is also very important for your company, what are your mainstay steps to increase your company's liquidity? So that it can become a very large company. What is the company's Future?
 
Sumangal Dutta (Momento) : So we have an inbuilt function in our tokenomics that is programmed to increase our liquidity over time and enable larger investors to be a part of MOMENTO. We will also be doing this through our buyback mechanism which will gradually increase the liquidity of the token over time. 

We have plans to list on multiples CEX's in order to be more accessible to a lot of people so all of this would help in bringing us more liquidity
 
Crypto Library Team : Why your team choose "MOMENTO" name for this project?
 
Sumangal Dutta (Momento) : So the name was something that we wanted everyone to resonate with and understand easily. Momento basically resembles reliving moments which is what our NFTs are meant to be. We want to create a sense of Nostalgia through the NFTs we create as that is something that stands the test of time and does not fade away with hype :)
 
Crypto Library Team : According to the Roadmap of momento's, you estimate to carry out something called Viral Campaign. Can you give us details of this viral campaign? When do you estimate to execute it?
 
Sumangal Dutta (Momento) : We have already started this campaign and it's going to start off with the BURJ KHALIFA EVENT on Octobter 3rd where we will be featured on Burj Khalifa for 3 whole minutes and we'll be revealing our project to the entire world that day. This will be done by a celebrity (Can't reveal who now. Let that be a surprise 😉) in order to garner as much attention as we possibly can.
Only projects like SAFEMOON and KISHU INU have done this and they did really well with the event even after achieving a billion dollar marketcap. We are just a $2 million dollar marketcap project so the upside is insane if you do the maths 😎
Apart from this we will also be participaing in the WOW summit where our Leaders would be giving a keynote speech in front of all the big profiles in the crypto industry. We will be having a MOMENTO WRAPPED LAMBO at he entrance and people wearing our MASCOT's costume and walking around. We have done everything possible to ensure that all eyes will be on MOMENTO that day 🤩

 
Crypto Library Team : CAN you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
 
Sumangal Dutta (Momento) :
The tokenomics for MOMENTO are as follows:

Total Supply – 1 trillion

60% - Liquidity
26% - Burn
12% - Staking
2% - Marketing and development

There is a 10% tax for every transaction:

3% - Goes to liquidity. (This enables us to create a price floor for Momento below which it cannot go.)
3% - Gets redistributed to holders (Passive income for just HODLING)
4% - Goes to the buyback and burn wallet. This is in order to ensure that there are no major dumps that take place and we can sustain a long term upward trend. This wallet is accumulated in ETH and can only be used to buyback Momento tokens and can never be withdrawn by the team so the community can feel safe about it. Also the tokens get automatically sent to the burn address once bought. This is also one of our Anti-Dump measures. 😎

There will be no more minting of tokens. We have made sure that even after the Pancakeswap listing, out total supply remains under 1 trillion 😎
We had a fair launch and there are no team tokens
The marketing wallet of 2% is unlocked
The staking wallet of 12% is unlocked through a vesting system where only 1/12th of the tokens get unlokced every month. So currently 11/12th of this is locked.

 

Comments