KuCoin AMA With TurtSat (TURT) — A Gitcoin-Inspired Platform for Building, Donating, and Impacting Bitcoin Ordinals & BRC-20

Dear KuCoin Users,

Time: December 28, 2023, 12:00 PM - 12:54 PM (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with the Team Member of TurtSat, Peter in the KuCoin Exchange Group.

Official Website: https://turtsat.io/

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Q: Can you please introduce TurtSat to us?

Peter: TurtSat is a community-driven open platform for Ordinals, and our mission is to be the Gitcoin of the Ordinals ecosystem, where everyone builds, donates, and influences Ordinals through Turtsat.

Turtsat has built a basic PSBT donation protocol that will effectively lower the barrier to participation and encourage more developers and community members to participate in the Ordinals ecosystem. This protocol not only makes the development of Ordinals more inclusive but also creates a wider range of opportunities for participants to benefit from the ecosystem.

At the same time, Turtsat is building a large community of Turtles, with community members from China, the U.S., South Korea, India, and many other national regions, which will transform the world shaped by the Ordinals. By linking the community and partnering with influential organizations, we will work together to drive the future of the Ordinals protocol and the Bitcoin ecosystem.

Q: Can you tell us more about TURT?

Peter: Turtsat was born at the advent of the Ordinals protocol and has grown with the BRC20 ecosystem. Since our first project launch in Q3 2023, we have continued to launch 7 projects in the Ordinals infrastructure category, including the BRC20 asset protocol Chamcha-CHAX, the BRC20 cross-chain bridge Multbit-MUBI, the Ordinals aggregation platform Nhubs-NHUB and the Ordinals lending platform DOVA.

It is obvious to all that the successful launch of these projects will contribute to the development of the Ordinals ecosystem. Many participating users have also gained considerable profits from these projects, and I believe that many of our friends have learned about our Turtsat platform through these projects and joined the Turtles’ community.

At the same time, our ecological cooperation and development have never stopped, whether the early technical support from Unisat, OKX, etc., the ecological development of cooperation with Galxy, Port3, and other platforms, and the ecological cooperation of Ordinals with DWF Labs, etc., more and more famous, influential organizations are gradually involved in cooperation with Turtsat and jointly promote the ecological development of Ordinals. More and more famous influencers are gradually participating in cooperation with Turtsat and jointly promoting the footsteps of Ordinals' ecological advancement.

Turtsat is very grateful for the support of these ecological partners and the users, always remembering the original intention to move forward. In the future, Turtsat's planning will be divided into three major phases:

1. Continue to introduce and launch more high-quality Ordinals projects, and this process will be gradually opened to the community.
2. Around the construction and development of the Ordinals ecosystem, we work hand in hand with our partners to provide comprehensive support and help for Ordinals open-source projects or builders.
3. Enrich Turtsat infrastructure and provide users and developers with more tools that can be applied to the Ordinal ecosystem to help them participate in the construction of the Ordinals ecosystem more easily.

Q: Currently, how can users participate in TurtSat?

Peter: TURT is a platform token with MEME attributes issued by the Turtsat platform on BRC20, with a constant total supply of 1 billion. Among them, 7.5% were airdropped to early Ordinals users, 7.5% were used for Turtsat's early Private Donation, and the remaining 80% were all dispersed to the Turtles community through Public Donation at an early stage, except for 5% reserved for future development.

TURT has now realized BRC20 and ERC20 dual-chain circulation. Anyone can swap BRC20 and ERC20 TURT tokens in both directions via the Multibit cross-chain bridge.

Currently, in addition to the MEME attribute, TURT tokens are also able to participate in Turtsat's staking. Users can stake TURT to get EGGS and then use the EGGS to get the Whitelist qualification for the launch project of the Turtsat platform.

In the future, with the development of the Turtsat platform, TURT will also be applicable to more usage scenarios. Including but not limited to eco-governance, project launch voting, redeeming cooperative gift packages, etc.

Q: About TurtSat's platform coin, TURT, what is the total amount of its issuance on top of BRC-20 and ETH, and will any incremental issuance from BRC-20 collapse to ETH?

Peter: First of all, the total amount of TurtSat's platform coin is unchanged at 1 billion coins, and the haircut is on BRC-20. Through the multibit cross-chain bridge, the TURT tokens of BRC-20 can be converted into TURT tokens of ERC-20. Opening an asset cross-chain does not affect the total number of haircuts for TURT tokens.

Example: when there are 100 BRC-20 TURT tokens via multibit cross-chain, 100 BRC-20 TURT tokens will be locked in the cross-chain bridge's multi-signature wallet, and then the cross-chain bridge mints 100 ERC-20 TURT tokens on ETH. Conversely, when the 100 ERC-20 TURT tokens are returned to BRC-20 via the cross-chain bridge, the 100 ERC-20 TURT tokens will be destroyed, and the BRC-20 TURT locked in the cross-chain bridge is removed.

Q: What benefits will the partnership with KuCoin bring to TurtSat and its users?

Peter: KuCoin is a well-known industry head of the top CEX, with a large number of users and broad influence. Turtsat is very honored to be able to establish cooperation with KuCoin, which will be important and far-reaching for the development of the Turtsat platform.

This will accelerate the spread of Turtsat's influence and the development of ecological construction, and will also be able to help TURT get better liquidity outside the ecosystem, and users can get more convenience and value expansion opportunities. We encourage Turtle community users to trade TURT on KuCoin and also welcome more new partners to participate in the Turtsat ecosystem and join us in building, donating, and influencing Ordinals.

Q: What are the benefits of holding your token as a long-term investment? Can you tell us the motivation and benefits for investors to keep your token in the long run?

Peter: The benefits are that you are able to stake $TURT for eggs that give you access to alpha WL for upcoming IDO launches on Turtsat.io. Motivation for holding is always subjective to the user's goals, long-term or short-term gains. In the current market, it is easy to make a 10% profit if that is your goal, but the long term is always better when a quality project comes around.

Q: I'm considering investing in your project. Can you please provide information about when and where I can purchase your tokens? Have your tokens already been listed on any exchanges?

Peter: You can find $TURT on many platforms, notably KuCoin, the OKX ordinal market, and UNISat.

Q: How does TurtSat plan to attract more users and increase adoption of the platform?

Peter: Our plan to attract more users rests on partnering up with industry leaders like KuCoin. We want to bring a great project to more users and, through that, allow better development of BRC-20 projects. Our donation protocol makes it a great way to support projects you like and also reap the rewards of well-developed projects.

Q: How does TurtSat plan to stay competitive in the rapidly evolving world of cryptocurrencies and blockchain technology?

Peter: We plan to position ourselves as a middleman between communities and projects, bringing the finest projects to our platform. We have a robust curating process that involves several steps to help users stay safe and ensure that projects deliver on their promises.

Q: Your smart contracts may fail, and numerous projects become victims, resulting in users losing funds and damaging the project's reputation. How dependable and secure are your smart contracts? Has thorough testing been conducted with relevant parties?

Peter: BTC/BRC-20 does not use smart contracts. A protocol called PSBT was made possible through the Taproot upgrade to BTC a year or so back. This makes inscriptions possible. Once you sign a transaction on the BTC chain, we sign with you, and then the inscription is sent to your wallet. BTC is known for being secure and robust. We have world-class developers who ensure everything runs smoothly.

Q: How did you get the community involved in developing the project $TURT, and how do you build a strong community to grow globally?

Peter: At the moment, the community is involved in a lesser capacity than we would like. We are planning on implementing TURT as a governance token that will allow the community to vote for projects that they want to see on the IDO, as well as bring new projects to the platform. I've been building with Turtsat since there were 5 users in our discord. I think the way to build a community is to be open with them and listen to their voices. They use the project and know many of the struggles, as well as different things that work and what does not.

Q: Do you have an ambassador program? If so, can you provide me with information on how to become an ambassador? Ambassadors play a crucial role in every project.

Peter: Yes, we do have an ambassador program. Through the ambassador program, users can get A WL and B WL for different projects. To become an ambassador of Turtsat, you need to be active in the community and help users. Make sure to participate in events and build a good standing in the community. It's a long process, but if you are dedicated and interested in our project, you will be able to achieve this.

Q: Does your project cater exclusively to English-speaking communities or welcome users from other language backgrounds?

Peter: We are a global community and a global team. We have members from China, Korea, South Africa, England and Singapore. We welcome every language and every person to join us. Our only rule is to be respectful and helpful in the community.

Q: Despite being categorized as a meme token, TURT faces a prevailing negative perception. How does TURT intend to overcome this unfavorable perception and establish its credibility?

Peter: In my opinion, it has already been proven that we are a serious project with more than just a meme connotation. We have launched 9 very successful projects that have gone on to give the community profit and also show them that we mean business. Building the BRC-20 Ecosystem starts with Turtsat donation. We help projects achieve their goals, and we help our community achieve theirs, too.

🎁 Participate in the TurtSat AMA quiz now for a chance to win $10 in TURT!

The form will remain open for five days from publishing this AMA recap.

KuCoin and TurtSat have prepared a total of $2,000 in TURT to give away to AMA participants.

1. Pre-AMA activity: $800 in TURT

2. Free-ask section: $50 in TURT

3. Flash mini-game: $400 in TURT

4. Post-AMA quiz: $750 in TURT

Sign up for a KuCoin account if you haven’t done so yet, and ensure you complete your KYC verification to be eligible for the rewards.

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