Gather AMA with Wolf Crypto
We held an AMA with Gather in our public Telegram channel on September 15th.
Gather is a platform that allows publishers to monetize without ads and provides businesses & developers access to cheap and reliable processing power.
The Gather ecosystem consists of three main components -
Layer 0: Gather Online — The hardware layer, where processing power is collected from publishers.
Layer 1: Gather Network — The protocol layer, a hybrid proof of work and proof of stake blockchain, where stakeholders are incentivized to maintain transparency and security.
Layer 2: Gather Cloud — The application layer, where processing power is redistributed to enterprises at lower costs and to blockchain developers to secure their networks without sourcing miners.
Gather launched on Bithumb Global on September 14th. You can view or trade the GTH token here —
Here’s what Gather’s CEO Raghav “Reggie” Jerath and CMO Ayhan Gungor had to say in the AMA.*
*This AMA has been edited for clarity.
WC (Wolf Crypto Telegram Member)
INTRODUCTION
Welcome to another edition of Wolf Crypto AMA…it’s another big week of AMA’s here at Wolf Crypto…my rekt sleeping pattern, once again…
Today we have Gather’s CEO Reggie joining us! Welcome Reggie!
TEAM & TEAM GOALS
WC
As we always do with these, and even though you’ve been hitting the AMA circuit hard, and after such a great launch, everyone should now know who you are, but for those that don’t, can you please give us an intro on yourselves and some background as to how you become involved in crypto?
RJ
Hey Winston, its great to be here! Thank you for hosting Gather!
Hi, I’m Reggie Jerath, the CEO and the founder of Gather Network. I’m a serial entrepreneur, leadership and management professional and an accredited chartered manager from the Chartered Management institute.
I have scaled startups from idea to growth stage with revenues reaching as high as 200,000 USD per month. I lead teams varying from ten to two hundred people of a multidisciplinary background.
My career also includes stints at MSLGROUP and other large integrated agencies where I’ve handled medium to large scale public, private and NGO accounts. I’ve been managing the Gather Network since 2017.
WC
2017…damn…the good old days…
You must look and feel as old as I do now having been around the block for so long haha!
RJ
Hahahahha amen bud, it has been a while as they say a year in crypto is like 10 years in real life!
WC
Thank you very much…how about a little background on some of the team members who aren’t joining us today?
RJ
For sure, so I’ll use images here and provide a brief highlight about some of the other team members —
So, the Core team is made up, of myself, Farrukh, Ayhan, Udit and Steven.
Some highlights, Farrukh is former KPMG, and Grant Thornton, Ashesh has over 20 years in the tech space and managed the COE for NCR in Atlanta for about 7 years.
On the server side. Steven is our Bradley Coopers doppelganger and our securities and FDI specialist. Ayhan has about 19 years on the technical side of marketing and knows the in’s and out. Udit has very deep startup experience.
From our Advisory board. I don’t think Charles, Johnny or Bradley need an intro hah. We have Naren Former Regional Director of Publicis on the SE region. Vic worked with the like of $SNT and Opera (the browser) and then there’s Patrick, our Financial Advisor.
WC
Before we get too far into this, I’d like to congratulate you on a successful token launch yesterday!
Can I ask how you’re feeling now you’ve got that part of your roadmap out of the way…it’s kind of a biggie!
RJ
Definitely, yesterday marked a huge milestone for us with the token going live on exchanges.
I am very excited like everyone in the team and we are ready to deliver now more than ever.
THE GATHER ECOSYSTEM
WC
With the basics out of the way, let’s get right into it.
Pitch me as to what Gather is and why it’s necessary in both a crypto and non crypto context?
RJ
Gather is a platform that allows publishers to monetize without ads, provides businesses & developers to access cheap and reliable processing power.
It’s a new way to monetize websites that can be an addition to or replace monetizing a site with display advertising. It enables websites to earn from users who simply browse a site with our code embedded in it to mine cryptocurrencies with their Idle processing power, using a CPU or GPU, which stands for computer processing unit and graphics processing unit.
WC
Crypto mining with a web browser…takes me back to the days where streaming or torrent sites jacking browsers to mine XMR…
That’s not what you’re doing is it? ;-)
RJ
Browser Mining is when a user’s processing power is used to mine cryptocurrency, in Gather’s case, it is with explicit consent, ie. we ask for permission to do so.
In return, users can enjoy an ad free experience, and websites and applications can earn revenue, and if the loyalty program is enabled — the end user is also given a certain percent of Publishers revenue earned.
WC
What sort of mining occurs using Gather then? I read something about cross chain support and that having something to do with what can be mined on Gather?
RJ
Gather Cloud allows PoW blockchain developers to deploy blockchains ( Child chains Via Merged Mining ) without the need to source miners or build a community first.
Merged Mining is when two different chains share the hashrate. Usually a larger chain and a smaller chain. The Parent chain ( larger ) miners get extra rewards and increase profitability and the child chain ( smaller chain ) get the benefit of added hashrate.
Briefly, child-chains are forked off from the main Gather chain and they use the processing power that is available in the main Gather chain.
WC
So just so I understand clearly, what kind of websites or applications could use Gather Network?
RJ
Any website or application can integrate Gather Online easily. Integrating our core product is very easy and straightforward, it’s a line of javascript code for websites and an SDK for applications.
These websites or applications do not have to be crypto-currency or blockchain sites, it can be a news/blog site, a streaming website or app, a mobile application, basically any option is viable.
Gather Online rewards the publishers/users for the time spent on their website or applications. Specifically reaching out to areas where advertising (CPC) rates are lower and unjust will be part of Gather’s mission.
WC
So you’ve described what it does, but how does this actually add to anything?
Please tell me you have a use case OUTSIDE of the crypto ecosystem?
RJ
For the first time in history we have developed a powerful new technology that allows web and mobile developers earn money through processing power contributions.
Imagine an Internet where web and application developers can generate reliable revenue streams without having to rely on Ads. One that is not reliant on ads, one that is reliable and rewarding.
While making Cloud markets cheaper and fairer. Gather is unlocking a new type of business model for the internet by allowing publishers to monetize without ads and by providing businesses & developers access to affordable and reliable processing power.
THE GATHER ECOSYSTEM COMPONENTS
WC
Now we’ve got the conceptual s out of the way, let’s break down the core components of the network…
Firstly, can you list them off for me and then we’ll go through them one by one?
RJ
Gather Online (Layer 0) allows web & mobile developers to monetize from their users processing power.
Gather Network (Layer1) is the protocol layer, a hybrid proof of work and proof of stake blockchain, where stakeholders are incentivized to maintain transparency and security.
Gather Cloud (Layer 2) provides affordable processing power to enterprises and developers.
Gather Enterprise provides consultancy services and tooling for developers, businesses and crypto networks.
WC
So Gather Online is a widget or something that a webmaster or developer would embed in their website or application?
RJ
For websites yes, small code snippet at the bottom of your code. once place — you will see a pop up like the one below.
However the pop-up can be customized — size, colors and text.
WC
Beautiful, does that work the same for apps as well?
RJ
Apps would be via an SDK — and consent can be gained in multiple forms — via the T&S, opt out loop or opt in loop.
We have a little more flexibility when it comes to apps.
WC
How does the hybrid Proof of Stake/Proof of Work actually work? I understand the Proof of Work side of things, as that’s obviously devices participating in that side of the process, but how about the Proof of Stake side of things?
RJ
When we will be on mainnet, there will also be Masternodes to further secure the network and staking nodes (ie. web staking wallets) which will further contribute to the security of the network.
The staking or master nodes will be incentivized to participate in the network and in return, they will be rewarded (passive income)
WC
So talk to me about the cloud component of the Gather ecosystem.
How does that work and where is the storage supplied from?
RJ
So our main use case is for just the actual processing power, however any storage requirements will be supplied by the MN network.
Gather Cloud is currently designed to supply processing power to enterprises for specific use cases that they might need, it does not include a storage component so we talk about pure processing power, coming from both publisher side and masternodes in our network for complex computations operations here.
WC
Smart, I was thinking with that, you need consistent storage, I don’t want to be using Gather to store my dick picks and find them go missing!
I like the dual approach there…CPU power is much easier to harness on the go and as devices drop on and off the network!
RJ
Exactly, but you do need some constant supply as well, so most of this would be from the MN network — processing power + storage here, with some from the websites and apps — depending on the amounts required and what use case it is
WC
Is this cloud computing on Gather a realistic alternative to something like Amazon Cloud compute or is there a more appropriate comparison between Gather and other cloud computing services?
AG
Absolutely, we talk about the serverless computing side of things here. With no middleman, Gather’s matching engine automates price discovery for workloads, making compute markets much more efficient.
Based on our ongoing proof of concept, we will be able to offer up to 30% cheaper processing power to enterprises.
WC
That’s a pretty decent cost saving option, especially for smaller businesses which I assume you’ll be targeting initially?
AG
Yes, however not limited to small businesses only. For example, we are actually partnered with Godrej Industries ($4B+ turnover) company to testbed Gather Cloud.
So as long as we can reach out to middle and big size enterprises, why not?
WC
Forgive my ignorance but who are they?
AG
One of India’s biggest conglomerates. We’re also partnered with ASAP Industries for this process (an Oil&Gas company).
WC
Lastly on the core components of the Gather ecosystem, Gather Enterprise…what does this involve and who is the target audience for this?
I know enterprise from the title of the component, but could you contextualize this for me?
AK
Gather Enterprise helps enterprises and blockchain developers enter the Gather Cloud.
Briefly we can mention the scope of Gather Enterprise side in three categories here:
1) Training & Consultancy: We help enterprises to understand and move to the distributed cloud.
2) Integration & Development: Adapting and integrating Enterprise workflows to the Gather Cloud.
3) Support & Maintenance: Upgrading of software and troubleshooting issues.
This is basically us, doing the work for our clients!
WC
I hope you’re getting paid for these services and that they add to the revenue stream too?
AG
Yes, this is like the marketing + consultancy part of the work. Eventually, we want to educate the market as well to let them more about our services.
TOKEN UTILITY
WC
You spoke briefly on the GTH token earlier but can you go into more detail as to the tokens utility within the ecosystem and the benefits of the token for both the network and token holders?
AG
GTH’s value is derived from being as a medium of exchange within the ecosystem along with providing holders the opportunity to vote on the future of Gather. The specific features that use $GTH as a medium of exchange include:
1) Gas Fees and network interactions charges, settlement and processing power related charges for the Gather Cloud, and Settlement of Gather Online Rewards.
2) Providing a financial incentive to nodes to act honestly.
3) Entitling Staking holders with the right to participate in the governance and future of the Gather ecosystem
WC
38% APR ain’t too shabby…
How many nodes do you expect to have on the network? At mainnet and as you move past it?
AG
We should note that these numbers are subject to change as the node numbers grow. In the beginning the rewards will be higher and then they will slowly decrease as new nodes come online in mainnet
We expect about 200 masternodes with the mainnet but this is of course just our estimation for now, the market will do its thing.
WC
Nice, so how many tokens per node? Or that’s not public yet?
AG
Our initial decision for the masternode collateral is 250k GTH tokens.
However, based on my past experience with masternodes, we might have to decide on a new number based on the market conditions during the mainnet launch.
This is of course to be communicated at a later stage if happens.
WC
Interesting, how many tokens are circulating right now?
AG
Right now 18.5 Million GTH tokens are in circulation.
WC
I’m just doing the math on 200 x 250000…It’s a LOT of tokens locked in nodes!
AG
Yes about 50 M right? So a good portion of the total token supply will be locked.
REVENUE MODEL
WC
We’ve spoken on the token utility, how it works within your ecosystem and the benefits to token holders and users of the network, but what about Gather itself?
How does Gather benefit from the token or generate a revenue stream?
AG
Gather generates revenue from all layers of the network, which includes publishers/websites/applications at the start and enterprises using gather cloud at the top. Gather will charge a commission to websites/publishers/applications using the Gather technology. The processing power generated from the websites, is then redirected to child chains through merge mining and/or enterprises on gather cloud.
Hash rate leased out to child chains to increase their security will be lower than market price. Enterprises that are using Gather cloud will also be charged at a discount to market rate (determined by google/AWS rates) for the processing power used by them.
The majority of this revenue will be redistributed back to the publishers with Gather keeping a small portion as the commission, and thus keeping profit linked directly to growth of the network. This creates a positive feedback loop where increased publishers using Gather online means more processing power can be redistributed through Gather cloud which in turn increases the revenue of Gather online users, attracting more customers to gather online leading to more processing power and so on.
PARTNERSHIPS
WC
There are A LOT of logos on your website, some I recognise and some I don’t. Run me through who’s on the list and who’s of note?
AG
Some of them our partners on the Gather Online side, like publishers: TheDailyChain, ThePioneer, Metalyfe Browser.
Some of them are supply/demand partners such as Hashr8, Finnple.
And some are also partners that we will use inside our payout loop such as Coinstruction.
I guess this covers it all, more or less.
COMPETITORS
WC
What unique technology does Gather use to separate it from its competitors and who do you consider to be competitors both in the blockchain space and in the “real world”?
AG
First and foremost, Gather Online is oriented to change the way of web/app monetization, Providing websites and applications an alternate form of monetization, one that is not reliant on Ads, is a paradigm shift.
There is no other competitor utilizing the processing power provided by websites and applications for building a better ecosystem, as we plan with Gather Cloud:
Gather Cloud will allow PoW blockchain developers to deploy blockchains ( Child chains Via Merged Mining ) without the need to source miners or build a community first.
Gather Cloud will allow enterprises to lower compute costs with CPaaS (Compute Power as a Service) as a unique offer for specific use cases.
There is no direct competition in the sense of what we are building as a single marketplace based platform connecting publishers with enterprises & developers.
There are of course variations of the individual parts of the Gather network visible in other projects. For example golem is a marketplace for processing power but requires user download and maintenance and large user input. Brave offers monetization but requires their browser to be used while Gather is browser agnostic.
With the modifications we have made to incorporate these individual parts into our platform to operate in a complementary manner, we dont believe there’s any project that is able to offer what Gather does as a complete package at this time.
WC
So what features does Gather have that give it a competitive advantage in the marketplace?
AG
1- Gather Online can be easily integrated into websites/apps with no pain.
2- Gather Online allows website/app owners to generate additional revenue on top of digital ads, or let them go ad-free for an enhanced user experience
3- Gather’s Loyalty program allows website/app owners to reward visitors in GTH/BTC or local fiat currency for the time they actually spend in websites/applications
4- Gather Cloud provides affordable cloud computing costs via processing power coming from publishers (there is no similar example in the competition)
5- Gather Cloud allows PoW blockchain developers to deploy without finding miners or building a mining community first
TOKEN SALE & SUPPLY
WC
It’s rare these days we speak to a project AFTER their token is released…that used to be more of a bear market thing for us, and now there are like 10 new projects popping up each week…but anyways, this kind of cuts down the questions I usually ask in this section…so firstly, drop your full token metrics on me please?
AG
WC
You finished the token sale early from what I’m told and as such cancelled the public sale?
What was the deal there?
AG
Of course, it didn’t happen in a day, we’ve been building for the past 3 years and we wanted to time our private sale while the market is primed. I don’t want to brag about it but our team includes A+ advisors, with deep roots to the blockchain ecosystem who took active places in launches of the well known projects. To give an example, our Tech Advisor worked for the likes of Status $SNT and Opera and our Marketing Advisor is the former regional director for Publicis Groupe.
WC
Summarise the token sale process for you please…what rounds did you have, who did you sell to and run me through the launch on Bithumb and Uniswap?
AG
In 2018, we had our seed round. This is used for development but it eventually ran out, and the bear market conditions did not make it any better. Then, we self-funded with life savings and kept building throughout the last 3 years.
In the private sale round last month, Gather was able to raise funds backed by both the community and institutional capital in a raise that was oversubbed by 25x. In less than three weeks, we were able to secure a listing on Bithumb Global and open on Uniswap as well.
Our main investors include Bitscale Capital, TRG Capital, Master Ventures and LD Capital.
WC
What was your starting market cap and what’s your current market cap?
AG
Our starting market cap was $592,000 and as we speak, our market cap is about $3,500,000.
WC
How about lock ups on tokens…what’s your token distribution schedule?
AG
WC
I note in your token distribution table you have allocated 7 percent of your funding or budget to legal issues.
Expect to be in court a bit? ;-)
AG
Since we operate in an uncertain regulatory environment, we need to be even more careful when it comes to both legal and regulatory issues. We have to consult with legal practitioners from multiple countries and jurisdictions, hence the extra cost.
DEVELOPMENT ROADMAP
WC
So now you’ve had a successful token release and you’re moving onto the next stage of your journey, could you give me a little more detail on your roadmap moving forward, how you plan to on board more users to the ecosystem and gain actual adoption for Gather…again, both in the crypto world and the “real world”?
AG
Both for Gather Online and Gather Cloud, we will continue building new relationships with publishers, enterprises and PoW blockchain developers.
We already have around 200 publishing partners via Early Adopters Program so far, including names like ThePioneer (India’s oldest newspaper), TheDailyChain (a crypto news site) and Metalyfe (a new web browser). We will be running campaigns to raise the awareness of Gather Online as we get closer to the mainnet launch but in the meantime we will carry on and bring more partners with our B2B marketing efforts.
We’re currently testing Gather Cloud with Godrej Industries ($4B+ turnover) and we got ASAP Industries on board for the enterprise side. As part of our B2B business development efforts, we will also continue adding new enterprises.
Again for Gather Cloud, we are also building new connections with the other PoW blockchain teams where we can use their algorithms as part of our Merged Mining concept. For example, LUX chain is our first partner on this front.
It would be worthwhile to also mention about our Ambassador programs here where you can see on our website. These programs split into 4 groups, aiming to spread the reach for: Community, Gather Online, Gather Cloud-Enterprises and Gather Cloud-PoW Blockchain Developers.
We plan to bring our testnet live by the end of 2020, and move forward to our mainnet to March 2021.
WC
How about your long term vision, where do you see the project in a few years time, past the published roadmap?
AG
I would like to see Gather being a household name, less ads all around and our technology being adopted by many.
For specifics, and as per our mixed method growth model ( based on top down and bottom ) we predict 2B sessions in a year, and over 130 child chains.
Note we do not say websites, as the relevant metric is sessions/visits, however these numbers can change along the way.
DUE DILIGENCE CHECKS
WC
Does Gather have a Github?
AG
We are working on a private repo at least till we move to the mainnet. After mainnet, this can be partially opened up to the public.ty sir
WC
Where are you guys based?
RJ
We are based in different locations, basically team members, advisors and developers combined we’re more or less on all continents. Our core members are in Dubai, India, Turkey and the USA.
WC
Where is Gather incorporated?
AG
In the British Virgin Islands.
WC
Do you have a legal opinion that your token isn’t security?
AG
Yes, and we also have an in-house legal counsel, I believe Reggie mentioned earlier.
WC
Has your token smart contract been audited and can we see the results?
AG
Yes, it’s audited. In our website, under “Documentations”.
https://gather.network/docs/Cryptonics_Gather_Audit.pdf
CLOSING THOUGHTS
WC
It was our pleasure to have you guys here today, and we’re really excited about hearing some of your upcoming updates…we’re know of a few exciting ones already!
AG
Thanks for having us Wolf!
Gather Resources
Website: https://gather.network
Telegram: https://t.me/GatherNetwork
Twitter: https://twitter.com/Gather_Network
Medium: https://medium.com/@GatherNetwork
Whitepaper: https://gather.network/whitepaper.html
Wolf Crypto Resources
Public Group: https://t.me/WolfCryptoPub
News Channel: https://t.me/WolfCryptoAnnounce
Twitter: https://twitter.com/WolfCryptoGroup
