We are pleased to announce our next AMA on March 24th 2021 at 02:00 PM UTC Time: Satoshi Club x Tidal
⚠️Click to see the hour
⚠️Total Reward pool: $800
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Tidal Telegram group
We will have the following structure:
Part 1: 100$ /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$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Tidal Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Tidal
For more details:
Tidal – @TidalGlobal
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
With many projects promising high returns for locked tokens, Total Value Locked in Defi has increased to over 40 billions. With less than 10% of DeFi locked asset insured, the need to buy insurance cover is now more important especially with the recent rise in hacks. Tidal’s aim is to create a platform that can harness LP’s capital efficiency together with offering insurance premiums to buyers. So, what are the procedures to sell or buy covers over smart contract hacks? What model will you use to create competitive bootstrap liquidity programs that sellers can choose from when deciding on the protocol to provide backup security for? How will the pricing model, insurance costs and estimated earnings from cover pools be decided and how will it be governed?
Just as said when you last visited on February 4th that your v1 will be launched in March, I have gathered that the team is set to launch the alpha testnet this week with an IDO planned on Polkastarter on 23rd March. However, only a total of 138 addresses from the Tidal community got whitelisted but you will have another sale on Balancer on 25th of March. What will be the procedure and price for the second round of sale on Balancer and how many participants can join this round? What are your plans with regards to post-sale listing and how possible is it to join your testnet program? Kindly brief us more about these and any other good tidings you have for the club
As an insurance protocol, it is necessary to have reliable risk/claim assessment mechanism that can evaluate payout claims in order to be able to ascertain their legitimacy. This is necessary as you may be faced with user-sponsored hacks and deliberate rugs in a desperate attempt to game the system. How is Tidal Finance designed to be able to assess risk and determine legitimate reward structure during payout? What aspect of risk will you be able to cover and how will you identify real situations from user-triggered or self-inflicted risks/hacks?
Regarding your ambassador program, I was reading and I found it very interesting the opportunity you give to the users of your ecosystem to be part of the growth of TIDAL, and also for them to grow in the cryptographic field, but, regarding this, is there a time limit for each user to be part of the program? Or is this going to depend on individual skills and abilities?
TIDAL is a coverage protocol that offers the DeFi community the ability to protect against failures of any protocol or DeFi asset, but, in relation to this point, for TIDAL, as a team and project, what has been the biggest obstacle and failure they have had to deal with? Do you think that in the future, you will be a project that besides providing solutions, will be at the top of projects that innovate in the DeFi world?
Last time you were with us was in February 4th, you were about to reach some of your goals such as amazing partnerships with Konomi, Reef and you said that thanks to this partnerships you were almost able to release the insurance solutions for the Polkadot DeFi ecosystem. Can you tell us more about what have you accomplished when it comes to this insurance solutions and relationships with other partners? how the ride for that has been since the last time you were here? Also, what should we expect next when it comes to TIDALs future?
I read that a while ago you said that one of Tidal Finance goals is to release and support Tidal v1 on Ethereum, but since Ethereum is having a lot of high gas fee transaction problems, which have users really upset about it, is it still your first next-to-go option or did that plan change because of that? Also, any plans on releasing Tidal v1 on any other blockchain such as BSC or Huobi? If so, which one and when will we be able to see it?
From what I have read before, I understood that Tidal works offering products that are weekly insurance coverage, but why did you decide to make it weekly? What benefits gives you to offer weekly coverages instead of ones with longer periods of time and how this benefits the users that get this insurance coverages as well? Also, do you have plans on releasing later on monthly or maybe yearly insurance coverage?
Tidal offers to buy and sell leveraged hedges on multiple chains. This is a really interesting model. But is there any blockchain that offers greater security or leverage than another? As a DeFi project, its goal will always be to ensure the best service for its users, so does working with multiple blockchains generate the same security and confidence when buying or selling hedges on multiple chains using Tidal Finance?
From what I read, Tidal takes into account several risk factors for each protocol, which include capital wagered, daily volume, how long it has been deployed without incident, etc. My question is, how do you price insurance coverage within Tidal? Are there various plans for full or partial coverage?
The tidal DAO is one of the most important aspects of the platform. Can these members of the DAO be participants in case of claims or incidents with the insurances provided by the platform? Can they be a court that determines the resolution of situations related to this type of problem? Within Tidal Finance, is there a process required to opt for insurance or is this approval done through your DAO to ensure future problems, so that the DAO of the project previously endorses that everything is fine and in order?
I was reading about your TIDAL cover token and calls my attention that it has the attribute of having an expiration date, what is it exactly? how does this work as a digital contract which may expires?
Tidal Finance recently announced a partnership with a blockchain protocol that offers unbeatable speeds of transactions by sharding as it is ELROND, I could see in a medium article that Tidal will allow to the eGold holders to get insurance and will be eligible for Tidal cover pools, the question is what apportations will made ELROND to the Tidal platform regarding infrastructure? Will be the sharding a benefit for Tidal finance?
Tidal Finance is a high-performance DeFi insurance platform that provides the DeFi community with the ability to protect against failure of any DeFi asset or protocol. Will this collaboration bring positive value to the Tidal Finance and Elrond ecosystems?
I understand that Tidal Finance aims to provide insurance coverage to Elrond. Could you please explain what mutual hedge funds consist of?
Will Elrond’s native EGLD token also be added to Tidal Risk Pools?
The partnership between Tidal Finance and Elrond will help drive DeFi to mainstream adoption. What are they based on for future integrations?
understand that the Tidal platform will include DeFi protocols on the Elrond network and will allow eGold holders to obtain insurance. Will eGold holders be eligible to provide liquidity for Tidal hedge funds?
The addition of the insurance offering from Tidal Finance will help increase the level of security of the platform. What specifically do you protect DeFi users from, what is your ability to cover?
Elrond is a blockchain protocol that seeks to offer breakneck transaction speeds, could you explain how to use sharding for Elrond?
TIDAL is a Balancer-like insurance market built on Polkadot. Do you allow users to create custom insurance groups?
The project describes itself as a technology ecosystem for the new Internet, including financial technology, decentralized finance, and the Internet of Things. Based on smart contracts, how many transactions could be executed per second and their costs?
Tidal Finance makes DeFi more secure by providing insurance coverage for assets across chains in custom balanced liquidity pools. Can users choose risk groups?
In the case of public participants, contributions will be accepted only through ERC-20 addresses. If so, what other requirement must I meet?
Based on your risk appetite and filter them through various protocols / assets and their coverage terms (premium, coverage period, etc.). Can liquidity providers invest in groups that adapt to their risk ratio?
Tidal allows the users to choose risk pools depending on their “risk appetite”, can you tell us what are these options? How customizable are these choices in coverage terms?
Among so many tools / strategies, which are the main ones that Tidal Finance uses to provide well-being and security to its users so efficiently? How does Tidal Finance provide high performance insurance superior to others?
Does Tidal insurance guarantee investor safety only if other people are investing and adding liquidity to the project? And do you have a security fund mainly in the initial phase of the project? and if in fact this is the case, how much is the percentage of the capital?
On your website I did not find any information about your roadmap. Does Tidal Finance have plans to continue strengthening your insurance? Do you think that Tidal in the future can perform better and get involved in more projects? Have they met expectations this year?
Tidal is backed by industry leaders and has partnered with many projects such as bZx, deficliq, UniLend, and others. What is the difference between the insurance offered by Tidal and the insurance offered by other projects? How have you gained the trust of so many projects?
TIDAL is a Balancer-like insurance market built upon Polkadot that allows users to create custom insurance pools for one or more assets & is secured under Polkadot’s shared security model, ensuring high resilience and forkless upgradability. So may we know why in POLKADOT, why do you need Polkadot and what’s the primary use case for Polkadot? Also is there any plans to migrate from other blockchain like BSC?
Tidal Finance had a collaboration with Konomi, a lending protocol built on Substrate. So may we know why TIDAL chose to form a partnership with Konomi? What will this partnership provide to each other and how will TIDAL increase Konomi’s insurance fund’s efficiency? Also is this a long-term mutually beneficial relationship?
Is Tidal’s insurer fully compatible with any project, be it leverage, exchange or any function and any chain? or does it have to meet some requirement, how will it at least be audited?
If I really only make stakes with recognized and verified tokens, why do I need insurance if they are reliable? or despite this, is it possible that any project can go to scam without problems?
really why prefer to pay insurance packages when I can protect myself from SCAM projects with incubator or safeguard platforms like ValhallaDAO and others? Wouldn’t they be more reliable and less expensive than Tidal Finance and with the same benefits?
Really what is the coverage of the Tidal insurer? It is simply a safeguard and return of capital in case the project bet is SCAM? Or do you also make a refund in case of any confusion, bad operation of the user or problems on the platform?
Does Polkadot web 3 provide any additional safeguards for users of new SCAM projects? Or does Tidal simply use Polkadot to be able to interconnect diversity of tokens from different chains?
You mention that the covers are endorsed by “industry leaders”, but really what relationship does REEF or bZx have with insurers? and in what characteristics does Tidal improve the efficiency?
It’s been a month since TIDAL had an AMA here and during those days so many happened. So can you tell us now the progress on your Roadmap and your partnerships? Also where are you focusing right now and what’s your next step to your next goals?
How are balanced the liquidity pools within the Tidal Finance’s platform ecosystem? what advantage does this specific feature bring or aim to bring to the pool and its parties?
What is the role of the token of the ecosystem of Tidal Finance, the $TIDAL, within its ecosystem, and what are the different ways it can be earned or purchased?
Over the last couple of weeks & months, Tidal Finance has done numerous partnerships with some pretty good heavy weights and projects within the DeFi space which is highly amazing and clearly points to the fact that your project has continued to gain traction and growth increasingly. How do you plan to sustain these successes and achievements, having in mind that DeFi has a pretty competitive and highly evolving community of products, creators and investors?
TIDAL offers coverage to DeFi. How does this coverage work? Is there only one type of coverage or this variation
The Tidal native token $TIDAL and most of your service are primarily ran on the ethereum blockchain. With your recent partnerships and collaborations, are we to expect a divergence to other chains, especially with the $TIDAL tokens?
How big is the community that makes up web 3? In case there is a decline in the size of this website, would the size begin to decrease seriously / moderately?
In TIDAL they control the risk of insolvency. In what ways could this problem manifest itself? Is it a single specific problem or are there several?
TIDAL in one way or another is contributing something to the DeFi community. Is there a possibility that in the future they can influence DeFi in a positive way? Could this influence become really great?
Every project innovators are always on the edge of giving the positive and good features of their project, but can you kindly give few killer features of tidal to investors
What is the profit % that can be obtained through staking of tidal token
Reading all the features of tidal it seems more better than similar projects, how do I get involved in falcon swap as an investor
Tidal Finance launching their IDO in Polkataster just last March 23. So, can you tell us why did you choose Polkataster to hold your IDO? How many days that IDO is running in Polkataster? Can you give us the overview about your IDO? Can anyone still be eligible in participating your IDO? As an investor, why would we choose to invest in Tidal Finance IDO? Why would we trust our hardly earned money to invest in your platform? What are the bonus awaiting for early adopters for your IDO? Thank you
As an Open Marketplace for Programmable Insurance building on Polkadot ecosystem.Can you explain what is a programmable insurance? What are the advantages and disadvantages of this kind of insurance? Why did you choose to be built in Polkadot ecosystem? What are the positive impacts did you see that it brings to Tidal Finance network? Thank you
If we will create our own insurance pools in Tidal Finance, what will be the terms and conditions may be applied between the buyers or LP’s and Tidal Finance party? What will be the pre-qualification assessment we will undergo before creating an insurance pools in your platform? Is there any third party involve when creating insurance pools? Is there a need for an approval from any Tidal team for the customized insurance pools to be valid and qualified?
Thank you
Recently Tidal partner with Elrond, what benefits it brings on table for Tidal?
Tidal Ido was yesterday so can you tell us the highlight on event? Did you find any difficulties in completing fundraising?
Apart of providing insurance what other area Tidal will try to expand in near future or you are limited to insurance only?
On their website TidalFinance says that Tidal’s open market will increase capital efficiency by encouraging competition between different groups. What kind of event or competition can tidalfinance provide for its community?Do you have another plans to increase or expand the marketing strategy of your project?
Tidal assets foundation will be supported by insurance pools created by users. How to use the controlling algorithm to check and evaluate the free status of users created pool and when a compensation claim is requested, what tools or mechanism will you utilized to verify these claims and arrive at a fair claim settlement?
Do you belive Open market nature of Tidal will increase capital efficiency?
Why Tidal has two different native token? Can you explain us the reason and use of both token and Are they Both tradeable?
What will be the token release rules? At what rate my NEWW will be released and can user withdraw it at once or there will be some limits?
How can pool creation and LP participation mutal cover can be created? Do LP can participate in any mutal cover pool?
To assist in preventing insolvency of pool what parameter will be set to mitigate risk exposure?
Who is backing Tidal?
In your Twitter bio is written that Tidal Finance is the first customizable smart contract cover marketplace for the Polkadot ecosystem. But i see that recently you partnered with Elrond, for example. So, my question is about what ecosystems are you focused on? Is Polkadot your priority or your goal is to cover as much blockchains as possible?
Tell us more about your Guarantors and what role they play in the Tidal project? How is the selection process and is their number limited?
How resistant is Tidal platform to hacks and different types of attacks? What audits have already been conducted and are additional ones planned? Will there be bug bounties? Have you insured yourself against possible losses, because it is the attacks and imperfections of contracts that are becoming the main causes of financial losses now?
On February 4, you came to the AMA in the Satoshi Club. The change that immediately caught my eye: a different project logo. What other changes have occurred and what led to them?
Tidal Finance makes DeFi safer by providing insurance coverage for assets across chains. Do you check all the clients security details like doing an audit to their smart contract before signing agreements?
I see that Tidal finance’s IDO already live on polkastarter, can I still join to participate in there? Can you share a little about how is your IDO going?
When one of the insured projects on Tidal has been compromised or hacked, what will be the steps on claiming the insurance? Who are the authorized representative of the client that will contact Tidal for the claiming process?
1. On your site you don’t have the section “Audit”, I try to find it, but it didn’t find anywhere. Does it mean that it is not fulfilled and you don’t have already an Audit? Are you planing one (or more)? If you are kind, we would like to know about the issues and vulnerabilities that could be found in your project. to be assured that you will not be exposed to those risk which was exposed a few days ago one another well-known big project, also that data delivery and private user data leaks are secured at a high level. Thanks.
Can TIDAL reject an insurance claim request? If yes, what might be the grounds of disapproval?
Pool creators can launch new pools by choosing any combination of protocols / assets and their coverage terms (premium, cover period, etc). Where can I see a complete list of your suggested protocol combinations?
Your main competitor in the industry will be a pioneer like the Nexus Mutal. What different products will you offer to the market? Which strategy do you lean more towards – competition or cooperation?
I understand that the launch of the Tidal platform is coming soon. What products will be available and which are still under development? What is your long-term strategy and short-term tactics?
I see that Tidal will bring insurance to elrond ecosystem. Elrond is a blockchain platform for the new internet economy also decentralized, so what problem do tidal finance try to solve with joining in elrond ecosystem? How this partnership is win win solution for Tidal, elrond and user?
Tidal Finance is about insurance project, can you explain in short how is your insurance system work? And Can you share with us which project already use insurance product from Tidal Finance?
You say that any protocol can be hacked and that Tidal Finance offers insurance against loss. But..
Long term insurance costs a lot of money, which can neutralize income.
Tidal Finance can also be hacked, how can you then cover the insurance? Do you have funds for example in gold in banks, where the risk of hackers is minimal.
You are in the business of insuring crypto-assets. But it’s not just from hackers. Do you have insurance against loss of profits due to the fall of BTC and as the resulting market decline?
What companies are you going to cooperate with in the future?