This time around we are talking to Joel Almeida — Founder of ExtractoDAO, is a technology entrepreneur in various fields, including blockchain, streaming media, cryptocurrency mining, centralized and decentralized finance. He also founded an education company and a digital bank. is also writer, having published several works. He dedicated himself to writing the ExtractoDAO whitepaper "The Prince" in a simple and understandable way for those who are not familiar with the cryptocurrency market.
Chris: Hi there! Thanks for taking the time! So if you were to explain what is Extractodao to a kid — what would you say?
Joel: ExtractoDAO is a decentralized proposal of food production and commodities, striving to contribute to the cause of food security, fighting hunger, misery, malnutrition and at the same time generating fair revenue to all the participants in the DAO.
The ExtractoDAO also proposes the decentralization of private property by the collective man.
At ExtractoDAO, you are the one who decides how much coin you want to mint and when you want to mint that coin based on your own production guarantee through the use of smart contracts in the Drawer
In the ExtractoDAO DeFi, We have decided to apply the kg mathematics to symbolize voting power. Votes have a weight in kilograms (KG) which may vary from 0.001 kg to 5 kg. Initially, we will be working with the total sum of tokens for voting and people’s participation in the DAO. We are validating the mathematics of the kilogram system in ExtractoDAO voting. People will be incentivized to participate, and those involved will benefit by being granted a degree in reputation so that someday they may become a DPR (Delegate Per Reputation). We must unite to build a single vision, fight hunger, poverty, misery, and other ailments that are flourishing in the heart of humanity, through the power of our protocol.
Chris: What is the drawer in cryptocurrency world according to you?
Joel: Haven’t you ever heard of the word DRAWER in the cryptocurrency market? Drawers carry the same sense as the wooden drawers from in a lawyer’s office cabinet which is the place where client documents are stored, however here it refers to a new storage technology for Smart contracts.
Initially, while developers create Drawers Apps for IOS and Android, all participating DeFi members that have adhered to the Extracto@ smart contracts will be able to use the online version of the Drawers. These will have the same function as law office drawers with the purpose of safely storing smart contracts; transparent and auditable by everyone. These are not to be mistaken for wallets. Drawers will serve the new market standard created by the Joel Almeida in contrast to Buterin’s initial idea.
Its use, in practically the totality of existing projects, can be summarized in generating a single smart contract and selling tokens with which to fundraise. There is nothing wrong with this, having said that, the most fervent and powerful application and use of smart contracts makes the life of criminals much more difficult. We must turn back to smart contracts, restarting correctly, as we move forward with tokenization more responsibly.
On the other hand, no one has minted a decentralized coin ballasted on food production with the intent of taking advantage of the cryptocurrency ecosystem to bring to the world solutions to improve people’s lives. ExtractoDAO does just that, It solves the issue of food insecurity, creates the COW stablecoin and at the same time generates profits for its participants.
ExtractoDAO has decided to proceed differently. No token blockage to create other tokens. Members will be free to sell their Extracto@ smart contracts to third parties prior to the 135-day maturing period to create COW and profit from this operation.
There is no token blocking to mint new coins, members detain smart contracts; they mature and new coins are birthed. How will the project maintain itself? Where will the project´s upkeep for marketing and development come from? Will the DeFi fees alone do this? NO. The project will maintain itself through admin, contract swap, production management, and blockchain usage fees. ExtractoDAO produces coins ballasted on production, and charges operational fees. Its products are liquidated at a market profit, monetizing its members, and maintaining the business.
The Extracto@ smart contracts will be simple to liquidate, they will either be for you to speculate with or to protect yourself from price movement in one of the most profitable activities in the world. Pursue rewards, manage risks, and diversify your portfolio participating in the DAO. We´ve created the true Futures Market. We are issuing Extracto@ so there will be new ways to protect producers and buyers by holding positions and risk management. The value of a smart contract is completely separate from minting tokens. A contract has real value expressly linked to it, which is a real guarantee of the exercise of its rights. The ExtractoDAO innovates and reinforces the importance of a broader application of smart contracts beyond the limited form that the crypto market has taken
Chris: Alright. What is a Bull Token? Tell us about it please
Joel: It is the governance token that empowers the participant with voting power at ExtractoDAO.
Chris: And a Cow Coin?
Joel: It is a stablecoin ballasted on the participants’ capital who mints his own coins, after the expiration date of the future’s Extracto@ smart contract in the ExtractoDAO platform.
The COW is an international coin for agribusiness. One of the great issues of the food crisis is caused by the influence of coins backed by governments. The COW proposes becoming a globalized coin used for food production. All buyers and sellers will be able to use the COW’s stability. The auditing of this coin is done by the issuer himself, in other words the participating member at ExtractoDAO is the one who certifies the ballast of his own coin and the production and no longer a central authority. There are many stablecoins in the market, but the COW coin is the only one that has an economic proposal based on the fact that it is generated through a truly transparent ballast. Wouldn’t you trust a coin you yourself issued and through your own audit, based on a ballast that you created yourself for that coin? Haven’t you ever dreamed of having your own money printer? So, ExtractoDAO is giving you the opportunity to fulfill your dream. You yourself will mint whatever number of COW coins you desire based on the capital that you will make available for food production. You are the one that will decide the day and date in which you will mint new COW coins, seen as you are the one who decides the day to buy the smart contract and the value contributed to the Extracto@ contract with the specified maturity date. All buying and selling of products, machinery, fertilizers, tech, and food production will be able to use the COW for agribusiness’ stability relieving the causes for food insecurity.
Chris: Nice! I am interested to hear the story of you core team. How was the idea formed and how you all guys get together?
Joel: Everyone asks us where so many ideas came from. Everyone knows that the ideas came from the Prince. As ideas, they were shared and developed together with what he considers the best developers in the world; Men driven by the passion to take on this new, exhausting commitment, who want to bring something new to this world. These are the developers of ExtractoDAO. None of this would have been possible without their talent and dedication to this project, people worthy of such honor as the pantheon of great developers in the cryptocurrency ecosystem.
Who is the Prince? The only thing we know is that he has delivered a whitepaper to Joel Almeida who has become the person responsible for the initial hiring of the development team. Joel Esteves Neto, Robson Miranda de Santana, Lucas Oliveira, Eduardo Rodrigues, and Mainardes Shiinoki for me are not geniuses. They told me that if I wasn't crazy, we would change the whole market. This is inevitable, Drawer technology will wipe out most of this plague called tokenization from the market.We still have more crazy people in the marketing team, delegates and ambassadors who are all dreamers.
Chris: What your you plans for the foreseeable future?
Joel: I want to dedicate myself to the cause of food security and the development of new tecnology that make it possible. Also I want to keep writing good books.
Chris: Thanks, that was very interesting! Any last word for our readers?
Joel: I would like to draw the attention of the media and the governments to the issue of democracy. I believe that all this social revolt with this power structure is a clamor for a new model of society and more participatory democracy. I believe that the approximate implementation of a DAO is what people are looking for, but not knowing it exists. In our Whitepaper we point a way.