On January 26, 2022, CUN Global held it’s first AMA with 0x85, an important member of CUN community and partner of a top exchange. 0x85 have rich experience and proven insights in the industry, and have lead multiple successful use-cases in the market.
At the announcement of the AMA，users in the community showed their most eagerness in knowing more about CUN by submitting some four hundreds questions, which really encouraged CUN operation team who tried their best to summarize and put together all the questions into 12. At the end of the session, 3 of all the questions newly asked were chosen and answered. Here below is the full transcript of the AMA.
1.What are CUN’s vision and goal respectively? Why is it called CUN?What is the plan in terms of the possible impacts and changes that CUN may have to the industry, and the challenges that CUN may encounter?
CUN is co-initiated by a group of people in different industries and occupations, many of whom have high professional level and social reputation, but we all agree that CUN should back to the original intention of the Bitcoin that network should not be controlled by a single Individual, an organization, a group, it should be open and belong to the community.
In early discussions, from perspectives of technique, humanities and social sciences, different community members discussed the need to launch a new network which later became a consensus of everyone. I personally tend to think that the current major blockchain networks other than Bitcoin are not satisfactory in terms of comprehensive decentralization, efficiency, cost, and fairness.
The full name of CUN is Coopunion Network, which means cooperation and union. Before the emergence of Bitcoin, the idea of cooperative economy and community self-organization existed for hundreds of years, and it is a broad social movement, but we believe that Bitcoin and blockchain provides better means of technical implementation to cooperative economy and community self-organization. CUN will gradually impact the industry .
I do not expect a great impact from the beginning, which violates the objective laws of the development of things. I tend to think that CUN is a movement that promotes the development of global cooperative economy and self-organization through blockchain. If it is a movement, it should develop in the relay of different participants. There are many challenges to face.
In terms of technology, CUN mainly needs to improve the consensus on the Lay1 mainnet. This is also what Ethereum is doing, and it is not easy. In this regard, CUN is supported by technical patents and has carried out data experimental verification, but from experimental verification to implementation, it still needs to cross the engineering development process, and also faces the challenge of ecological expansion. These are all on our roadmap. If you’re dedicated to a valuable cause, you probably tend to believe that it’s going to happen no matter what, and put in the effort.
I’ve worked in many industries and done many things, and most of them achieved their goals, may be clumsy at first, but will eventually lead the industry.
2. What are the advantages and unique features of CUN’s technology, which can not only ensure the realization of the project’s vision, but also ensure the long-term sustainable development of the project, and distinguish it from other projects? Will it solve real world problems? What if the platform and technology are copied by others?
CUN is not a storytelling project. Everyone is down to earth from the beginning. Evolve from Ethereum and iterate Ethereum will be achieved in different stages. Technically, Ethereum has proven that it is a secure, leading network, but there are still some other perspectives to improve. Therefore, CUN adopts the route of phased- mixed consensus, with a feasible iterative process.
At present, CUN is not much different in performance from BSC and Polygon of the “ethereum club”, but it will gradually improve in the second and third stages: Lay1 consensus, incentive mechanism, governance mechanism, privacy, etc. In a word, it is the improvement of the overall architecture, and will meet the needs of mass adoption in business in the Web3 era.
At this stage, you can use it as Ethereum without any problem, but the efficiency and use-cost have been greatly improved. CUN mainly solves problems that Ethereum is having. We believe that in the process of implementing and improving Ethereum, as an infrastructure, CUN can support many applications that solve practical problems. Freedom without isolation, the union of free people, are what we believe in.
The blockchain technology is open source and continues to develop on the basis of open source, so there is no need to worry about simple replication, the important thing is the process of forming consensus and ecological application. In the CUN community, there are people from all walks of life, many of them are at the forefront of innovation, so I believe that everyone can come up with many innovative applications that integrate with their own industries.
3. Fraud and information leakage are rampant in the Crypto industry, and the security of user information and assets is everyone’s concern. What technologies and measures does CUN use to ensure that the system is sufficiently secure to prevent hacker attacks and users can trade with confidence? Can you disclose the technical details in terms of security, scalability and speed? Are there programs designed to detect system vulnerabilities? Will there be a reward if a professional helps find out?
You can’t stop hackers from attacking you, especially when you’re carrying value. Firstly, CUN inherits the main security technology of Ethereum. If you believe in the security of Ethereum, you should believe in CUN. Secondly, Ethereum has also rolled back due to the characteristics of the blockchain, but it solved the problem by forking. The specific technical details are disclosed in the white paper.
In terms of security, CUN is lead by professional technical experts as members of the CUN community , they have rich experience and knowledge in blockchain security . Of course, if other professionals can help find bugs, they deserve to be rewarded. In terms of scalability, for public chains, be compatible with Ethereum will allow them the biggest scalability. Many projects have adopted the idea of starting from scratch where many problems have been artificially created. BSC, Polygon and Ethereum are very compatible, they are naturally highly scalable.
On the other hand, there is no need to complicate the cross-chain problem if there is a simple way, and the technology of cross-chain bridge is very mature. You build a network system yourself, saying that you can use your network system to cross-chain, it is more of a marketing and competition action, and does not represent the reality I think that cross-chain problem solving needs to respect diversity as the basic principle.
In terms of speed, simply high TPS is more of a gimmick, and the processing speed of the centralized system is the highest. The real question is how to achieve a balance between TPS and decentralization. In the third stage of CUN, the speed can exceed the upgraded version of the Ethereum. I think it is a basic requirement, because everyone knows the problem of congestion in Ethereum.
4. In addition to security, compliance is also a measure to ensure the long-term development of the project. What does CUN do in terms of security audits, contract audits or external audits? As a globally operating project, what has CUN done to promote the globalization of the crypto industry, and how does it adapt to the different regulatory policies of various countries?
The CUN technical team regularly conducts internal security audits on the network. The blockchain network is an infrastructure just like water and air. External supervision is actually easy to implement. The means of marking and tracking suspicious blockchain addresses and transactions are mature.
I personally tend to think that the regulatory authorities of various countries strengthen the application supervision on the blockchain network. I once gave an example of traffic violation incidents on highways. It is not the problem of the highway or the vehicle, but the driver should be held accountable.
The US dollar is also often used for illegal transactions, and there is no need to enforce all US dollar users. Instead, Supervision department can investigate leads of illegal transactions and track down those who conduct illegal transactions.
5. What is the target audience and market for CUN and how big is it? What measures or strategies does CUN use to attract users including traditional centralized systems and non-crypto industries?
CUN provide better experience and lower cost for people like me who have strong expectations for Web3. The speed of the Ethereum network, especially the transaction fee, limits its development, making it impossible to integrate mass adoption in traditional world commerce who actually have a high demand for Web3.
The Lay2 network, which relies on the Ethereum network, does not solve the problems of Ethereum. Their destiny is highly correlated with Ethereum, so they are optimistic in the short term, but not optimistic in the long term.
At present, as Lay1 network that is similar to CUN, there is BSC. It currently relies on the Binance ecosystem. In the future, if it can take an independent path, improve the level of community autonomy, and formulate an evolution plan, it is to be expected.
The market value of CUN hopes to reach that of Polygon, and after the realization of the third stage plan, the real competitor is the upgraded Ethereum. If you experience the CUN network, you will know that its transfer speed is very fast, and the cost is almost negligible compared to the main public chains, but it has the same functions as Ethereum. If you are someone looking to use Ethereum technology at scale, you may be looking for an alternative network due to performance and cost concerns.
6. Introduce CUN’s ecosystem design and related technical support, such as NFT, wallet, etc. What practical use cases are there? How to deal with mass adoption?
In the early stage, community has developed a Wallet Beta for CUNP, but I tend to believe Metamask is the ideal choice for now. In terms of ecological applications, CUN pays more attention to ERC721 and ERC1155. At present, there is related NFT market developed and operating based on CUN, and it is believed that there will be more of such applications in the near future.
The Metaverse and GameFi projects are also the focus of CUN Foundation. As I mentioned earlier, mass adoption requires better user experience (faster, easier and easier to understand), and lower fees (as low as possible).
7. What are the total supply , distribution mechanism, value and income model, acquisition method, and usage method of CUNP? Is there any plan for listing or IDO? and if so, where will it be listed?
The total supply of CUNP is 1 billion and most of the CUNPs will be generated in Cape of Good Hope Network and New Generation Network to record the contributions of relevant parties to CUN development: node maintenance contribution accounts for 45%, business contribution accounts for 20%, the Foundation accounts for 10%, community supporters account for 10%, and the CUN operation team accounts for 15%.
The value of CUNP comes from the CUN network effect. By bringing together all the institutions and individuals around the world who wish to do business on blockchain via CUN, they voluntarily provide services and access services based on CUN, and form a global on-chain market matched by CUN. CUNPs provide an important basis for distribution.
On the one hand, CUN generates a limited amount of CUNPs on demand to award contributors. On the other hand, the applications operating on CUN network and profits generated assign value to CUNP. In theory, the value of CUNP will increase as the number of users, assets and trading volume on CUN increase.
Currently there are three main ways to get CUNP. First, join CUN socials and participate activities started by the Community. Second, CUNP will soon be available for one-way exchange from ETH, Matic, BNB. Then users can swap some CUNP. Third, users also can apply to be a CUN node, or develop Dapps on CUN, all these are considered contributions and are subject to reward. Community will release announcements shortly.
CUNP can be used in various ways. Firstly, CUNP can be used to pay Gas on CUN, and is also the perpetual certificate that quantifies users’ contributions, as well as the tool for community governance. To give some examples, when you transfer your assets on CUN or use CUN-based Dapps, you need to pay a small amount of CUNPs as a Gas fee, which is about 1/10000 of that on Ethereum; Your CUNPs can be exchanged to assets built on CUN. There are more and more Dapps and assets being built on CUN; You can stake your CUNPs to participate in node elections and obtain quantifiable voting rights for CUN governance.
The first step is to realize the exchange of other Coins to CUNP, including the exchange of ETH, BSC, and Matic to CUNP, which will be supported in the near future. The logic is that if you are considering using the application of the CUN network or considering early participation as an investor, you can swap CUNP.
When the crypto community has more awareness of CUNP, CUN will consider opening Dex trading or listing on centralized exchanges. The specific timetable will be disclosed in the roadmap. I personally think that it is more important to develop applications that support CUNP payment. When such applications develop, it will drive a large number of CUNP demands and bring more real TVL.
8. Most players in the crypto industry are in need of wealth accumulation. How to ensure users’ long-term holding and earning of CUNP? What are the ways to ensure the stability of the project and provide long-term returns to investors?
Calculate from the rate that one CUNP equals half USD, the market value of CUNP is about 20 million US dollars, ranking after 200 in CMC, which means CUN has a high growth potential compared to competing products. The CUN network and ecosystem are actually advancing according to the plan, and in the market CUN is kind of projects that works hard and steadfastly. It is not born for speculation , but to improve Ethereum.
I can’t guarantee anything for you, all investments are risky, but if you share our vision and want to work with the early community members of CUN, you can make a certain investment within the range you can afford, so that you won’t miss anything, in case it comes true.
9. Has CUN raised any funds? How to attract investors and ensure that funds really goes to the project? What are the expectations for the CUNP price?
We understand the demands of TokenFund. To ensure the fairness of the community participation, there is no early fundraising. Current development is funded by early community members and distributed participation. For CUN, it is more important to attract Web3 participants. If investors recognize the potential of CUN in the field of Web3, they are free to make their own choices.
10. Can you introduce core members , technology development team, major cooperative funds or organizations of CUN? Are there any new recruiting plans?
More and more developers of encryption technology, industry practitioners, scholars, opinion leaders, industry organizations, and NPOs are joining the CUN community。
Currently main CUN members includes an expert in blockchain technology who is CTO of a well-known blockchain technology company, a Professor of Computer Science who is director of a blockchain technology laboratory of a well-known university，an expert in blockchain who is partner of a well-known digital currency exchange, a prominent professor who is a political economist and thinker with global influence, an early investor in blockchain who is a leader in a vertical field of cryptocurrency industry, and an expert in Fintech who is a former CEO of a Fintech company.
CUN is also supported by various organizations including a regional association of blockchain industry, an innovative blockchain company, an NPO network with wide supporters and participants, a global sociologist network for international idea exchange and an alliance network for sustainability and community governance.
Given CUN’s development philosophy and feature of decentralization,to avoid troubles to certain supporters and institutions, as well as to avoid special impact from them on CUN due to their identity, all supporters and institutions will stay anonymous on CUN website.
The core supporters or institutions listed above have all contributed significantly to CUN and the Community, but the individuals and institutions that have provided strong support (technical resources, academic resources, financial support, industry resources, labor contributions, etc.) to CUN are not limited to the above list.
This list is subject to irregular updates. In other public or private occasions, we respect the personal choices of all individuals or institutions that have contributed to the development of CUN regarding the non-disclosure/disclosure of personal information, and will not respond beyond this statement.
CUN welcome long-term partners who agree with CUN’s concept to join the community and do something different and meaningful other than opportunism.
11. How can users and developers participate in the development of CUN, contribute or give suggestions to CUN? What is CUN’s strategy in terms of partner and community engagement? What’s their position in the CUN ecosystem?
We invite everyone to be more engaged in CUN community. At the moment, there are several ways for users to do so. Firstly , community organizes activities every week for users to participate and get CUNPs as reward. Secondly, users can apply for nodes by staking，take part in the Network governance by voting，thus more involved in the project. Application channel will be announced and open to the community once finalized.
For developers, CUN Network announced the Open-Source Code Release last August, all developers are more than welcome to develop on CUN. If developers need CUNP during the development process, they can send subject name, address, contacts and any other information they deem necessary to firstname.lastname@example.org. CUN Foundation will evaluate and contact developers as soon as possible.
We value everyone’s advice and suggestions on network development. So regular questionnaire will carry out to collect everyone’s feedback. And such advice and suggestions will be taken into serious consideration.
As CUN’s final goal is to become a DAO-governed community, no matter you are a ordinary user, a developer or a node, we want you to be in the core place of the community and ecosystem.
CUN now has various channels to keep users updated with all latest of CUN. The most used are Telegram and twitter. We also want to have more deep and valuable discussion with users in all perspectives, that’s why we also started our discord server where we can easily discuss different topics in different channels, and give more prompt responses to users’ questions.
Currently, the community regularly initiate activities to call for awareness and participation, we have a FAQ list at all user’s disposition and we regularly update it according to users’ questions. But we believe that is not enough. Shortly, our new website will be on line, and some long description reports are to be released also. We believe these will help users to better understand CUN.
In addition to AMA, community is planning to launch different campaigns including inter-community activities, inviting other members to share and so on. Please stay tuned. All will be announced in the community. Of course, if any of you have good ideas, let us know.
At the end of the AMA, 0x85 answers three of users’ many questions.
Q1 @T.Coco: Hi there. How confident is your team that you will achieve the roadmap for this year 2022?
A1@0x85: I am with full confidence with road map achievement. With all the projects I’ve been in, they all succeeded.
Q2@Irfane: What are the requirements in order to participate in DAO?
A2@0x85: DAO is firstly defined in the whitepaper of Ethereum, it is a system that automatically transfers digital assets according to arbitrarily formulated rules in advance. He also said, “A logical extension of such contracts is Decentralized Autonomous Organizations (DAOs) — smart contracts that permanently contain an organization’s assets and encode the organization’s rules.”
As mentioned above, DAO is mainly used for a fairer distribution and governance. As for CUNP holders, everyone has his/her eligibility to run community. And in CUN community, we’d like to combines two types of ancient democracy, that are “citizen right” and “equity right”. “ citizen right” here means if you are a community member, “equity right” here means the amount of CUNPs you are holding.
We always believe that the best solution should be a combination of both, which can better solve problem from all circumstances.
Q3@Paul: Can you explain different between L1 and L2 in easy way. Why L2 is easy than L1 but working with L1 isn’t as easy as we think
A3@0x85: Layer 2 is basically inherit a Layer 1 network both in terms of security and technology, it can not change the consensus of the mainnet. That’s why its easier. As for Layer 1, it will be a fundamental change on mainnet consensus, thus it’s more difficult.