MTS reached out to Jhunehl Fortaleza, Project Manager at AquaGoat to learn more about the company and the work they do. Read the interview below.
Q: Please tell MTS members about your company. When were you founded? What type of work to do you do and why is it important to marine technologists?
A: AquaGoat is an up and coming, yield-generating social cryptocurrency centered around protecting our oceans. Founded in April 2021, members of the AquaGoat ecosystem earn interest from all network activity while benefiting the planet and their charitable partnerships. With every single transaction, 1% goes to the AquaGoat Ocean Blue Fund, enabling cryptocurrency enthusiasts to passively contribute to helping the oceans. All AquaGoat token holders also get to vote on who receives those funds each cycle. Anyone who works toward the well-being of the planet's oceans, waterways and marine life can partner with AquaGoat. Each partnership is unique and personally crafted around both parties' needs. These can be anyone who partners with us, from nonprofit organizations to individual scientists working on ocean projects struggling to get funding elsewhere. Additionally, the team helps partners learn how to open their own crypto wallets that crypto investors can continuously donate all types of cryptocurrency to indefinitely. AquaGoat will also be featuring profiles about each of its partners on its website along with their crypto wallet address so that potential crypto donors can learn more and donate even if a partner does not win the community vote. In less than six months, AquaGoat has been able to donate over $38,000 to eight beneficiaries. These numbers will grow drastically now that AquaGoat has migrated to Version 2 of its smart contract.
Here is an article highlighting the AquaGoat Turtle Hatchery that was built in partnership with FOSTER (Friends of Sea Turtles Education & Research):
In addition to partnership benefits, anyone who buys AquaGoat earns interest from every transaction, based on their hold of the total supply. Project Manager Patrick Aberin likens it to a kind of crypto version of a high-interest savings account. When transaction volume is heavy, such as during large price swings common in crypto, holders can earn a lot of interest, compared to the usual static rate of about 1% per annum given to by a conventional financial institution. Instead of 1% a year, it's very possible to earn 1% in just a few days. Additionally, because the interest is paid out in AquaGoat, holders can continue to build their investment without having to add in extra funds.
In essence, AquaGoat's structure enables it to benefit its partners, its holders, AND the oceans.
Q: What are the latest technology advancements that you would like to highlight if applicable?
A: Compared to conventional major cryptocurrencies like Bitcoin and Ethereum that operate on a Proof-of-Work system (mining), which impact the environment through their high-energy consumption, AquaGoat is run on the Binance Smart Chain, which operates on a Proof-of-Stake system, meaning that transactions are verified through a liquidity pool. Proof-of-Stake consumes much less power and therefore has little impact on the environment, aligning with AquaGoat’s vision to save the planet. On top of that, they are also building value for the token by working to provide use cases in the real-world, such as e-commerce integration for use in material purchases, and the crypto space, such as yield-farming, a proprietary decentralized exchange, and eventually own blockchain.
AquaGoat's smart contract currently utilizes a 10% fee on every transaction in the network:
1% to the Ocean Blue Fund
4% redistributed to all holders (incentivizing people to hold their investments long term)
5% to liquidity (enabling the token to run without mining)
Though AquaGoat was inspired by cryptocurrencies that came before it, it is the first of its kind and the first cryptocurrency to prove real use case and utility in its real-world ocean-centered projects.
Q: What prompted you to join MTS? What value does MTS bring your company and the marine technology industry?
A: We met leaders from MTS at the Oceans Conference in San Diego this year and instantly realized the incredible opportunity to connect with experts in the field of marine technology. MTS members includes a wide array of the very people AquaGoat wants to network with.
What are you looking forward to participating in as a new MTS member?
We look forward to participating in and hosting webinars with MTS. We also look forward to networking with other members and meeting people who work in the field.
Q: What do you want to share with other MTS members about your company?
A: AquaGoat (GOAT meaning Greatest Of All Tokens) is a truly community driven token. Everyone on the AquaGoat team started off as volunteer holders. Like Bitcoin, an anonymous developer created the smart contract, renounced it, and handed it over to the community. These early community members offered their individual skills sets, time, and funds to build the AquaGoat project into what it is today. The project eventually outgrew the original contract and migrated to a new and improved version. This new smart contract opens doors for AquaGoat to grow exponentially by enabling cross-chain capabilities, start its own blockchain, design an original charity-based crypto ecosystem and more.
Q: How can other MTS members best get in touch with you?
A: MTS members can go to our website www.AquaGoat.finance to find out more about us. We will be coming out with a new website in the next month, but in the mean-time they can also find our various social medias on our website. If you'd like to talk to me directly about how to become a partner, holder, or community member, email me at [email protected]
