We are pleased to announce our next AMA on January 22nd, 2021 at 11:00 AM UTC Time: Satoshi Club x Fire Protocol
⚠️Click to see the hour
⚠️Total Reward pool: $600
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Fire Protocol Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 100 seconds. You can post Max 3 questions. Fire Protocol Team will select 10 questions and answer them.
Part 3: 400$ – A quiz about Fire Protocol
For more details:
Fire Protocol – @fireprotocol
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
In the future, will the FIRE FINANCE token be developed with more utilities? What is your plan to add value to FIRE FINANCE ?
What makes you feel confident about the survival & sustainable success of Your project in the near future?
Will In the end of 2021 price more than 19$?
For a specific coin/token applying to be listed on Fireswap, what are the criteria Fire Protocol are looking for?
On your website, Fire Protocol’s team members only consist of three individuals, is it really just the three of you developing and maintaining the project?
What makes the Huobi Eco Chain unique and different from other blockchain for Fire Protocol to be built and developed underneath it?
Is it true that #FireProtocol and MahaDao have partnered together, then what is the strategy to build a good long-term future for investors to partner with MahaDao?
Congratulations #FireProtocol partnering with Orion Protocol. What makes partnering with Orion Protocol, is it to add super liquidity to FireSwap?
How much is the APY for staking $FIRE tokens at #FireProtocol which Ferrum Network supports?
Currently, there are many projects under attack that affect the reputation of the project. Fire, please share related information such as github source code, audit, bug bounty … of the project so that investors can trust your project?
What is the Cross-Chain Solution that Fire Protocol has developed to support hundreds of digital assets from various chains through its Cross-Chain Center and bring assets into the Huobi ecosystem? What are the main advantages that Houbi Eco Chain brings to this model to avoid delaying operations and slippage between chains?
You recently announced your strategic partnership with Orion Protocol. How will this new merger help improve the liquidity of the FIRE pools? What advantages will they provide to liquidity providers to encourage participation and generate mutual benefits?
Fire Protocol has introduced the $ FIRE Staking program with the support of Ferrum Network. What is the full expiration APY you offer your users with this protocol? What has been the role of Ferrum Network in all this? How has it helped make this protocol better and fairer?
Huobi Eco Chain has chosen to be a better alternative to Ethereum or Binance Smart Chain. How much is the gas fee on Huobi Eco Chain? For developers who offer? Is it true that it is compatible with EMV?
FireSwap is committed to bridging the gap between centralized and decentralized finance. Specifically, what financial solution do you present to clients? Why did you decide to insert a uniswap protocol mixed with another and what functionalities can you get?
In the case of the DEX and the loan platform works together, like all the tokens that are being negotiated or facilitated as the provision of liquidity, can they also be used as collateral in the loan platform?
It is my understanding that they are the first protocol infrastructure to offer a suite of solutions and products that allow users to easily participate in the Huobi Eco Chain. Why did you decide to combine it with the Compound Lending protocol?
LP shares of liquidity providers in DEX can also be used as collateral in Fire Protocol, does this also activate the unused LP token unlock function?
The Fire Protocol lending platform supports all Huobi Eco Chain assets (H-Assets) such as HT, HBTC, HUSD and more, giving traders the ability to access a wide range of credit types from fast and easy way. Does this also add infinite liquidity?
Users have infinite liquidity and can freely convert between assets. In the case of rewards, will they be paid only to users who provide liquidity to exchange pairs?
Can any asset be traded on FireSwap? Who would support me in this department?
I understand that the LP shares of liquidity providers in DEX can also be used as collateral in Fire Protocol. How can I use it as a guarantee? By unlocking unused LP tokens, can I give up or publish my capital?
Supporting hundreds of multi-chain digital assets through our cross-chain hub, what are those new chains that you want to cross for more diversity in the Huobi ecosystem?
Fire Protocol combines trading, lending and borrowing in one integrated platform, enhancing liquidity and improving the settlement process. Are shares of liquidity providers in DEX accepted as collateral?
Since trading H assets on FireSwap can also be used as collateral to lend / borrow, the issue of liquidating such assets can be easily managed. Can LP shares of liquidity providers in DEX also be used as collateral in Fire Protocol?
Huobi (Smart) Eco Chain (HECO) testnet was rolled out on 10th December, 2020 and you were the first set of project to launch a full project on this chain. What attracted you to this chain or did you just want to help to promote it just because Houbi invited you? Since It’s Not Good To Play With Fire, isn’t it risky to launch a full Defi project on a newly developed chain which is barely a month in the Defi space? Have you made calculated risk assessment of this chain to be sure that your Defi features such as staking, DEX, lending, borrowing and other project attributes can run smoothly without any hiccups and investors will not be exposed to unpleasant experience?
As a Money Market Platform which offer the lending and borrowing features, are there limitations to the amount (in quantity and number of times) of loan a user can request for? What range of credit products do traders have access to? Since you offer cross-chains functionality, which assets are available for lending and which one can a user deposit as collateral? Will it be possible for LP providers to use their LP pair from DEXes as a form collateral when requesting for loans?
50% of token has been allocated for compensation reward to users that provide liquidity to fire protocol.How will this reward be distributed? Will the 50% be given to each LP providers or all the total LP providers will share from a total pool 50%? Also, are rewards going to be automatically distributed to account or will it be based on a time interval claim basis? In addition, your fire staking offer an APY of 42% in 120 days. Can the stake be renewed after the 120 days or is this just a one-time offer? Also, if I unstake before the full maturity date, can I still get full, partial or I have no reward?
What are the tokenomics & use cases of FireProtocol? How many tokens have been created and how many are in circulation? Also what is the total supply & what does $FIRE token represents?
Fire Protocol’s Loan Platform supports all Huobi Eco Chain assets and these H-assets trading on FireSwap can also be used as collateral for lending/borrowing. So tell us how it works?
Fire Protocol combines trading, lending and borrowing into one integrated platform. Can you tell us How the Loan System Works and what we need to do to participate/join?
I learn that Fire Protocol is the first who using system of HECO (Huobi Eco Chain). So what is the advantages by using this infrastructure to your platform?
Fire Protocol decided to choose Huobi ECO Chain for its deployment and development. Can you explain why you decided to go for this option, how compatible it is with smart contracts and how it will benefit the project and its users.
What are your future expections for Fire? And what partnership are you planning to do to support your project? And what year you think will be the year of Fire?
Security is very important and no user wants to be Rekt. What is the Fire Protocol team doing to ensure that the product is stable, smart contracts are audited and funds are SAFU?
Recently Fire Protocol already do huge development in Partnership. You already partnered with Mahadao, Unilend, Ferrum Network, Stafi, Orion Protocol, the last is Elrond. What main goal is Fire Protocol project want to reach with all of your partner? Do you have plan to add more partner in the future?
What is the plan Fire protocol to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year ?
Does Fire Protocol plan to connect directly with Huobi, thus expanding your relationship with Huobi dot, or will it only use its infrastructure (chain)?
Why did you decide creating an AMM based DEX ? Will it have an operating insurance fund in case of emergency situation happens?
I learn that Fire Protocol is an All in one Defi Project (DEX, lend/borrow, stake) also have great partnership with much project, but is it safe to use your platform? How do you persuade investor that Fire Protocol is far from rug project?
Liquidity is a major issue for decentralized exchanges, but Fire Protocol has partnered with some other projects to help solve this problem. Can you tell us more about how projects like StaFi and Orion Protocol will contribute to Fire Protocol with liquidity?
I notice that you have a button on your website that says “Apply for listing on FireSwap”. What are the requirements to list a token on your DEX? Can you tell us what would be the process of listing?
You mention two FIRE mining programs, the first one 1 day after Uniswap listing and the second one 10 days after Uniswap listing. Will you be launching other mining programs in the future?
Fire Protocol intempt to improve capital efficiency by unlocking unused LP tokens, is that the only solution you have disposed to this purpose? What other strategies do you have in mind to improve capital efficiency?
When you compare Fire Protocol with exchanges like Uniswap, there’s a significative difference and is the usage of HECO as a integrated part of the platform. What will you say are the advantages HECO gives to Fire Protocol among your competitors?
In your introductory Medium article you start by saying with a lot of enthusiasm that you believe Huobi Eco Chain has incredible properties to seriously challenge the leading position of Ethereum and Binance Smart Chain in the DEFI space, a pretty serious statement considering that at least 70% of DeFi protocols are built on Ethereum. What do you base this allusion on then, it is interesting to know, since your project is also the first protocol to be built on this chain. What have you seen in Huobi Eco Chain that hundreds of protocols have not seen previously?
Studying your team on the site, I saw this: 80 years of experience in finance, cryptography and business!
Is your team 80 years old? Isn’t that a typo?
Cross-chain wrapping is one of the jewels of Fire Protocol. Can you explain how this process works in a practical way? For example, what is the process to get my USDT ERC-20 to Huobi Eco Chain? How many fees would this process consume?
Going to the “Credit” item, I am immediately offered to connect Metamask. To begin with, I would like to find out about the terms of lending: what are the proposed terms, interest on the loan, what is used as collateral, there are Supply Markets and Borrowing Markets (what do they mean and how does it work?). But without connecting the wallet, this is not possible, because the information is not loaded?
In the last 3 weeks Fire Protocol has had 2 “strategic partnerships”, with MahaDAO and with Orion Protocol, two great projects as well. Can you tell us what were the agreements and what scope Fire Protocol gets by partnering with them?
How is possible to Fire Protocol users use the Liquidity provided to pools with the lending and Borrowing service? How this can be done?
Few hours ago Fire Protocol announced the Partnership with Ramp DeFi, so can you explain us a little about this last integration?
Limit Order is a feature very important for many traders. When is Fire Protocol going to integrate this feature?
What are the milestones in terms of cybersecurity of Fire Protocol? Is there any partnership that is collaborating you with this subject?
There exists so many projects that offers the same thing, Lend, Borrow and Farming, but this tenses are very repeated, so why Fire Protocol is different of them? Apart of your HECO integration, Which other feature make you shine among others?
Apart of the HECO chain and the Ethereum Network relationship, tokens from others chains like Tron or BSC Will be able to use Fire Protocol?
Fire Protocol has any Burning system considering that its name is kinda “associatiated” with deflationary mechanisms?
I saw Fire Protocol video on Youtube that created by famous youtuber Ivanontech, is this part of your marketing program? did you have a program for community that still ongoing right now? Maybe ambassador program, airdrop or bounty?
Are FIRE ERC-20 Tokens Really “Easy to Use, Safe and Profitable”? How could this token be profited in the short or long term? How can I get secure passive income?
How does “Huobi Eco Chain” work? What are the benefits Fire Protocol gets from using Huobi Eco Chain? And really Fire.Protocol is so advanced as to define itself as next-gen DEFI?
How Fire Protocol can offer:
-High scalability.
-Exposure of multiple assets.
-Liquidity mining.
How can users have infinite liquidity and high speed of performance at the same time? Isn’t it simple marketing?
Fire Protocol is shown as a protocol with great benefits, but there really already exists a DeFi protocol that covers the entire market like Uniswap, could Fire protocol somehow change the look of Uniswap users to its protocol?
The Huobi chain is not simply in charge of being a centralized exchanger? or does it really have great individual characteristics to develop DeFi protocols like Fire Protocol and much beyond?
Binance recently launched its smart contract chain, which is betting to be an alternative to Ethereum, but since that most recognized exchange platform launched that type of tokens, then the rest of the CEX IEOs will launch their tokens also just for competition? or does it really have benefits that are not known to binance itself?
What do you really mean by the meaning of “Fire Protocol” what is the “Fire” that this protocol wants to achieve or turn off? Will it be the “Fire” of the High Fees?
Fire Protocol helps to incorporate assets that do not belong to Huobi Chain, but are there really assets that belong only to that chain? And also why would the rest want to be incorporated into them only for low gas rates?
Are the functionalities of this protocol such as flash swap, liquidity extraction, loan / loan pools, interest derivatives really the same as found in known DeFi protocols? is the only difference that Fire is from the Huobi chain? or are there many more advantages?
Fire Protocol is simply the “bridge” that connects the tokens belonging to the chains of ETH and Huobi and allows them to exchange them easily, right? but only with the ETH chain? or will they soon incorporate other chains?
You mention Fire Protocol as “innovative cross-chain technology”, but what really is the “innovative” feature? only that it interconnects with Huobi Chain?
As what I’ve seen in your website that Fire Protocol has been partnered to some big names in the market like Matic Network, Ferrum Network, Unilend,Maha Dao ,Orion Protocol, Elrond and many others. As total, you have 14 partnership all in all already and as far as I know Fire Protocol was just launch last December 2020 if I’m not mistaken. I think it amazed me that such platform gone so many partnership in such a short span of time. So my question is how did you get all those partnership especially with the big names in market in just a short span of time? How those partnership brings influence with the trust of investors towards Fire Protocol? With those 14 partnerships, what do you think is the biggest impacts that it carry out to your platform especially with the development, innovation and the status of your token $FIRE in taking spot in the market? Thank you!
How do you evaluate the partnership you have made with the Orion Protocol and how will this partnership assist in adding centralized and decentralized liquidity to FireSwap?
What is the support provided by Cross Chain Wrapping solutions in incorporating assets outside the Huobi Chain into the Huobi Ecosystem from various chains, and what chain infrastructures do you plan to include in the future?
What is the advantage of Huobi Eco Chain being EMV compliant, what advantages does it stand out compared to Ethereum or Binance Smart Chain, and what is the main factor in FireProtocol’s preference for Huobi Eco Chain?
Fire Protocol and Huobi Eco Chain sit at the cutting edge of innovation. So what innovation is in the box that Fire Protocol and HECO working together? Why does Fire Protocol chooses to collaborate Houbi Eco Chain over other chain in the market? Can you tell us a little bit about this partnership? What benefits and advantages that you bring to each other’s platform? Thank you
I would like to thank you for moving away from the hype of building applications on Ether. You have gone in the direction of building on the not-so-popular HECO which will reduce the cost of commissions. I have a question and a request in one bottle. When I tried to connect to exchange, I saw a warning message — you are not connected to HECO and no hints how to solve the problem. In such a situation, not only advanced cryptans, but those who don’t understand what to do and just leave your service.
Do you plan to make a change to have a popup window with a hint how to add HECO to Metamask? Or, if this omission is intentional, then why?
I’m just burning with curiosity, how will the Firestarter Launchpad work? Will it be a launchpad for new projects like it is on top exchanges? But Huobi, Binance and the like is one thing, but a newly launched platform is another. What makes you think it will be in popular demand?
With due emphasis to liquidity sharing for Lending Pool, it’s stated that “FireSwap protocol aggregates the supply of each user into the asset pool”. Can you further explain how this is done and why is it better or different to the traditional matching process of loan orders?
Users have infinite liquidity and can freely convert between assets. What do Infinite liquidity means? How can this be possible on Fire Protocol even if there are no liquidity providers?
With professionals of this level, not every day is an AMA session, the question can only be one, so I divided one question into parts. Please, Danny Christ, tell us what does 100k=FUD mean in the Title of the Moonwhale website and why such a successful consulting company launching successful projects decided to launch its own in the field of DEX and yield-farming? Does this mean that your experience and knowledge, give you 100% confidence that the DEX on HECO chain, Lending, Borrowing and the FIRE token on the Ether for farming is a win-win option and a golden ocean for the crypto business and profit?
And finally, what profit is expected for the replenishment of the Fire Protocol platform’s liquidity?
Wrapping and unwrapping of assets usually comes with transactional fees, and bearing in mind the current high value of gas fees. What incentives have you employed to encourage traders and investors alike in mitigating the challange as stated above while also encouraging them to use the FireSwap cross-chain assets wrapping bridge for such operations?
The chart data comparison of different Defi platforms on Fire Protocol website is interesting. The Defi Protocols that are Ethereum-based dominating or have higher share on marketcap than non-ethereum based ones. Have you considered using Ethereum blockchain for Fire Protocol? Do you think that investors are actually more comfortable or preffered Ethereum based platforms?
NFTs popularity is continuesly rising and many are expecting that 2021 will be year for NFTs. Do you have plans to add services that will bring NFT enthusiasts on Fire Protocol?
Fire Protocol keeps making partnership. That’s very nice. But as a short quantity Fire hodler, I wonder when will you focus on being listed more than making partnerships?
I think most interesting partnership of Fire Protocol is the one with SpiderDao. Why do you need privacy for your operations via Spider Dao ‘s VPN-focused solutions?