❓Frequently Asked Questions
Feel free to ask anything: [email protected]
GENERAL
What and why is “Goat.Tech”?
Goat.Tech can be many things, including but not limited to a reputation standard, an earning platform, and an affiliate marketing platform. We inspire to be a FriendTech killer.
Is Goat.Tech too complicated to understand?
Nope. It’s just Stake, Earn, and Unstake. Stupid easy to use.
Can anyone steal my staked ETH and GOAT?
No one. Neither the pool owner nor the protocol creators. Only YOU can unstake your staked funds. Your funds are stored in the Locker contract, and controlled by the Controller contract, which doesn’t contain any function that allows any admin to withdraw funds from the Locker contract.
What drives the demand for GOAT Token?
First, utilities of the protocol token include boosting one’s Trust Score (and one’s earning), voting to earn, governance, and earning airdrop and fees. Second, users are forced into a race to stake the most GOAT in order to maximize their Trust Score, and win in Challenges, creating an endless demand for GOAT. Third, a burning mechanism is in place to burn all fees collected in GOAT immediately, including Challenge fee, Stake GOAT fee, and Early Unstake GOAT fee. Lastly, GOAT token emission is subject to a halving schedule of 24 months.
How is Goat.Tech better than FriendTech (FT)?
First, DecenTrust doesn’t rip you off - it collects only 6% to stake and unstake ETH, as compared to 20% in total as you buy and sell shares on FT. Second, DecenTrust is more sustainable as it gives influencers a larger share of the collected fee, specifically 2 to 1, as compared to the 1:1 ratio on FT, which encourages influencers to build their own FT clones. Third, DecenTrust doesn’t try to build a Web3 protocol and a Web2 social network at the same time - it focuses on building the best on-chain reputation protocol in the world, which can be integrated into any Web3 Dapps or Web2 apps to create much better user experiences for tech users worldwide.
How is Goat.Tech better than Lido?
To begin with, you can earn as much as staking in Lido on your locked ETH on DecenTrust. On top of that, you can earn up to 9 types of rewards in both ETH and the protocol token. Thanks to the Self-stake Advantage, you can stake ETH in your own pool and earn Staker Reward & Mining Reward more quickly than other stakers do. If you stake ETH during the our Launch Event (up to one month after mainnet launch), you’re subject to zero fee (and zero risk) if self-staking first, which means an almost 100% better alternative to staking in Lido.
What is really your reputation/trustworthiness on Goat.Tech?
It’s the ability to instill a belief in many people that you won't withdraw the majority of your earnings for a long time.
STAKING
What does it cost if I stake first in my own pool?
Only 1%, that goes to the protocol Treasury. As the owner of your own pool, you earn 2% of Pool Reward immediately. As the first staker in that pool, you earn 3% of Staker Reward.
What does it cost if I stake in my own pool?
Only 4%. As the owner of your own pool, you earn 2% of Pool Reward immediately.
What does it cost if I stake first in someone’s pool?
Only 3%. As the first staker in any pool, you earn the full 3% of Staker Reward.
Do I earn Staker Reward immediately as a part of my own ETH when I stake ETH in any pool?
Nope. 3% of your staked ETH is immediately distributed to current stakers in that pool as Staker Reward, before you become a member of that pool.
Do I earn Sponsor Reward immediately as a part of my own ETH when I become someone's Sponsor?
Nope. Assume that you stake in someone’s pool and then become his/her Sponsor, the Sponsor Reward that comes from his/her Pool Reward is distributed to his/her current Sponsor before you become his/her new Sponsor.
Can I earn without Activating my account?
If you stake ETH in others’ pools without activating your account, you can still earn Staker Reward, Mining Reward, Sponsor Reward, and Lido Reward.
Should I use many accounts and Stake in each other's pool?
That is not as beneficial as self-staking all ETH meant for yourself in only 1 pool to enjoy the Self-Stake Advantage. For every ETH you self-stake in your own pool, it counts as 1.5 ETH.
TRUST CIRCLE MARKETING
Can I have many Trustors?
Nope. You can have only 1 Sponsor, which is the one who has the highest Staking Power in your pool.
Can I change my Trustor Reward Rate before activating my account?
Nope. You can only change your Sponsor Reward Rate after activating your account.
Can I change my Trustor Reward Rate (SRR) anytime?
If you increase your SRR, it will apply to your current Sponsor immediately. If you decrease your SRR, it will apply to your next Sponsor.
Why Dynamic Trustorship?
Dynamic Sponsorship indicates that your Sponsor may change if someone who can literally sponsor you more (stake more ETH in your pool) appears. Your Sponsor is not entitled to a share of your hard work forever, but is expected to work hard to keep you as his/her Affiliate. As someone’s Sponsor, you earn more and more from your best performing Affiliates as other potential Sponsors race to stake more and more in ETH in their pools.
Would I lose my Trustees?
If you’re someone’s Sponsor, your Sponsor status is protected to some degree, which means it takes the next potential Sponsor much more ETH to snatch your Affiliates. This protection of Sponsor status is stronger during the Launch Event (up to one month after the mainnet launch).
OTHERS
What are the risks?
Concerted attacks on our DNS servers or Web Servers may deceive our users into sending funds to external wallets or smart contracts owned by malicious parties. This can be prevented if our users carefully examine the smart contract addresses that they interact with. Attacks on our smart contracts will be minimized by professional audits, bug bounties, and community-driven audit.
Is this a Ponzi scheme?
Everyone on Goat.Tech pays fees to either the protocol or other users for the values or opportunities that they expect. Earnings come from fees paid by users, ETH staking yield, and the protocol token emission. Even when no one stakes ETH on Goat.Tech anymore, you still earn the protocol token as Mining Reward forever.
Is Goat.Tech available on the Apple Store or Google Play?
You can install Goat.Tech on your iOS or Android device as an app easily and receive notifications just like any other mobile app.
Why Arbitrum? Why not other blockchain networks?
Aribitrum is the most popular Ethereum Layer 2 with the highest TVL, and praised by Vitalik Buterin as the first and currently only stage 1 rollup. We’re open to deploying Goat.Tech on other blockchain networks in the future and provide an API that pools together any individual’s Total Trust Score from many blockchain networks.
Join Goat.Tech or clone it?
Goat.Tech earns a smaller share than all of our users to maintain the protocol and make the world a better place. Why clone when you can still use Goat.Tech smoothly and safely.
Is Goat.Tech anonymous?
This protocol is meant to be owned by the community from the very start and only a very little fee is collected to maintain the system. The Core Team is only a temporary community steward. Once the protocol begins to run stably for an adequate amount of time, the ownership of all smart contracts will be forfeited. The Core Team will maintain an official account on Goat.Tech that presents the community’s trust in us, and financially incentivizes us to continue to maintain and expand the protocol for a longest possible time.
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