We are pleased to announce our next AMA on March 27th 2021 at 02:30 PM UTC Time: Satoshi Club x Collateral Defi
⚠️Click to see the hour
⚠️Total Reward pool: $1000
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Collateral Defi Telegram group
We will have the following structure:
Part 1: 100$ /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$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Collateral Defi Team will select 10 questions and answer them.
Part 3: 800$ – A quiz about Collateral Defi
For more details:
Collateral Defi – @CollateralChat
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
A question about temporally banned Raze twitter account. Did it affect any planned announcements/deadlines? And how much time is expected to see your account back for users? Thanks 🙂
You website is not secured, and the website that you want to use for your new brand is not working at all. Doesn't this send a wrong message? I mean this are quite simple stuff, why is it not handled?
How will you make the onboarding process for merchants? Currently payment processors as PayPal don't treat the merchants fair, and can block their money and close their accounts without even announcing. What do you have to say about that?
Collateral aims to be a payment gateway that lets users collateralize crypto to facilitate payment for goods and services. Does this mean for example: I have Bitcoin worth of 1500$. I want to buy the latest iphone or samsung. I put my BTC on your platform and then I can buy the smartphone? What is the further process? How do I refund the loan?
On a first glance, I can do the same on Venus or other platforms. But when I read the Lightpaper, I see that it is something different and much more interesting. What bothers me is: If I buy in UK, Germany, Russia, how will you convert it to local currencies from US dollar and with what costs? If it's noticeable, like 3-5%, I think it's big.
When marketing this, what are the areas you have to focus on more and how you are going to overcome it??
CollateralDefi public sale Offering will be held on DuckStarter on Wednesday, 31/3/21 at a rate $0.40 per $COLL. Nowadays, for “whitelist hunters”, it’s difficult to enter into whitelist as the selection process is unclear, and sales are often concluded in few seconds. I have read that KYC will be needed to participate in DuckStarter $COLL offering. How do we complete Blockpass KYC and how does the Batch lottery model used by DuckStarter ensure a fair distribution of $COLL? Why is there only 481 seats for this offering and how are these seat allocated into 5 Duck Tier? Lastly, Since only 481 seats will be available on DuckStarter offering, will there be other publics sale apart from this?
Your website is unavailable as you are undergoing a rebranding from “Collateral Defi” to “Collateral Pay”. However, Collateral Pay is just one out of the 5 (Collateral Merchants; Collateral Pay; Collateral Loan; Collateral Save; Collateral Govern) pillar products of Collateral Defi. What will be the status of the other products after this rebranding? How are retailers on-boarded into the Collateral Pay system and how can they integrate Collateral Pay into their payment structure if they wish to accept payment from Collateral Pay users? Are there plans to have Collateral Pay Card to further drive a seamless and simplified payment system?
There are still some countries like China, India, Russia, Nigeria and others where cryptocurrency is still forbidden as a legal tender that can be used for direct payment of goods and services. Is Collateral Pay designed to be a global payment solution across various countries including those with negative perception on cryptocurrency? Is there a possibility to have a conversion system whereby merchants can get payment in their native fiats even when buyers made such payment using their crypto-assets?
The field that you're trying to enter needs change, but it's kind of conservative. Can you tell us if you already have the deals with Visa and Mastercard? Without them, you won't be able to become a big player.
I read on your sheet that “until now, users have not been able to guarantee their cryptocurrency holdings to act as a fiduciary payment tool”, so what measures will they take to solve this situation?
I understand that about 2 days ago they published about the completion of their last private sale in which they alleged that they received several leading venture capital firms Who were the additional collaborators who decided to invest in collateral DeFi to share the passion for the fintech?
Decentralized finance has generated an enormous amount of hype in the last 12 months, but until now, users have not been able to guarantee their cryptocurrency holdings to act as a fiat payment tool and the industry has mostly been geared towards speculation. You offer to fix this whole mess? How is that connection by means of a bridge to rethink the whole main idea of the world of finance?
I understand that you have finalized the last private sale, you want to provide an idea of the funding you received from several leading venture capital firms. How much interest did this vision generate? How does Defi collateral allow users to take advantage of cryptocurrencies and unify the two worlds?
What benefits does the Polkadot ecosystem offer you compared to others?
Trough COLLATERAL, users can use their cryptos to make payments by giving a FIAT equivalent to merchants in simple steps, when you say FIAT, what currencies are supported? Is there an app to make these payments or will be the protocol linked to debit or credit cards?
This project aims to build a Global Network of Merchants and retailers, at the moment, where is your biggest audience allocated? And how do you plan to expand your features in a global scale?
Traditional finance is based on working with private and personal information of clients, such as banks, and Collateral combines traditional finance with decentralized finance, so when a borrower enters a loan process with a respective lender, it is necessary to disclose the personal data of both people? What does Collateral offer to clients in terms of privacy?
The COLLATERAL ecosystem is powered by a P2P network of borrowers and lenders, lenders participate in crypto assets in participation contracts to receive an APY in return. What are the percentages that a lender can get from an APY on a participation contract?
What are the exact reasons why your website is not available for browsing at the moment? What changes are you applying to your website? How long will it be in maintenance?
In your whitepaper you say that Collateral merges Traditional Finance and DeFi. What exactly are the characteristics and aspects that you unite in the world of traditional finance and decentralized finance? Why do you continue to include traditional banking methods in the DeFi ecosystem? What are the virtues of traditional finance that you can apply to Collateral?
I have seen that Collateral owns a governance token called $ COLLG. I understand that its only use is to vote for the decisions of the project. But what is the amount of $ COLLG that is needed to hold? How can $ COLLG holders participate in Collateral’s decisions? Which are the steps to follow?
When Collateral’s smart contract locks the borrower’s crypto as collateral in a performance process, what if the value of that crypto goes down? What would be the actions to take to face this case?
I could see on your roadmap that the security audit will be in the next quarter of this year, why so long? Shouldn’t be convenient doing it in the early stages of the project so everything will be safe and reliable?
About your payment method, it says in your lightpaper that it can be so simple as a 4 step process by Scanning a QR code, lock your crypto as collateral, the merchant receives funds from Collateral and pay back the balance owing to receive your crypto back , my question is: what is the margin of error for this process? What happens if the funds are blocked? Is there an immediate support system that can be used?
What would be the difference of being a borrower in the ecosystem of Collateral DeFi, compared with other lending platforms? The borrower has the right of being the most skeptical one, since its money is on the game mansged by someone else unknown for the borrower. So what srecurity standards do you offer to borrowers?
how is the process of lending completely trustless for the lender and borrower? In the ecosystem of Collateral DeFi, what happens if a lender does not pay at the due date?
Can you tell us what is the step by step of the purchasing process between the user and the merchant? Do you offer some kind of guide for beginners?
It’s great to give the opportunity to merchants to integrate the cryptocurrencies into their businesses, but they still need fiat to function. So can merchants easily convert their crypto to fiat through COLLATERAL and withdraw to their bank account? Or their profits from sales will only be in crypto?
COLLATERAL aims to become as recognizable as Visa or Mastercard, which is really ambitious. How exactly do you plan to accomplish that? Currently in many countries cryptocurrencies are not used for day to day transactions, so what is your strategy to achieve mass adoption?
In the first quarter (Q1) of Collateral DeFi, you plan to integrate a “Wallet” and the “Staking Launch”. So, could you explain to me how each one will work? Will the Wallet also be available as an App for phones?
What were the main reasons why you decided to base yourself on Polkadot? In their roadmap I realized that soon they will launch “ETH Polkadot Bridge”, “BTC Polkadot Bridge” and finally “BSC Polkadot Bridge”. Can you explain to me what these unions with Polkadot mean and what will be their functions within the project?
In their roadmap, specifically in the second quarter they plan to integrate a Wallet V2 Launch. So, my question is, why did you decide to integrate this second version of the wallet? What are the differences between the first Wallet (V1) and the other Wallet V2 version? Are there any errors in the first wallet that you need to correct?
There are many merchants that want to optimize their businesses using crypto but are intimidated by the complexity of it. So how will you convince these merchants to work with COLLATERAL? What benefits do you offer them? And can any merchant, expert in crypto or not, fully enjoy the advantages of COLLATERAL?
You are currently rebranding the COLLATERAL platform. Would you explain why? What are the changes you will be doing? Are those changes limited to the aesthetic aspects of the website or are you also optimizing the whole platform?
I noticed that only 1% of the total supply of $COLL is destined for DEX liquidity. Usually DeFi projects prioritize the liquidity, so why did you decide to reserve only 1% for it?
Do the Collateral App requires its users to conduct kyc to be able to use it for payment?
COLLATERAL allows users to unlock and utilise their crypto assets, without having to sell them. After using it for payment, how long will you give the users for repayment of each transaction? Do the assets be subject to sequestration after maturity date? Or there is no timetable, you just locked the assets until the owner makes a repayment?
COLLATERAL is working with an ever growing network of global merchants and retailers. How many merchants or retailers are already onboard and do you have initial list of countries that will accept Collateral payment system?
According to your Medium article, Collateral Defi has gain many private investors from a leading capital venture during your private sale. With serious financial backing from some of the leading VC funds in the business, Collateral is going from strength to strength.As you intend to utilize the funding to achieve greater market penetration, what marketing strategy are you going to engage beside having AMA to gain more people to know your project? In return as an appreciation for your great private investors,how do you intend to make them think that the money they invested in your platform is worth it and valuable? Aside from marketing purposes,what other allocation you wish to filled for the funds being raised in your private sale? From the successful private sale,what do you expect in your public sale? Thank you
“Collateral pay or defi could be the ULTIMATE bridge between crypto and mainstream”. Can you explain more about this statement in your twitter? How will this be possible? What mainstream is being mentioned in this statement? Thank you
One of Collateral features is Collateral pay that enable users to pay for goods and services using crypto assets. Can you elaborate this feature? I just wondering if I can shop online and pay via Collateral 🙂
can you tell me how is the proccess to join with Collateral platform and start receiving payment from your user if i am an owner who have small business ? do we need kyc ? and also can you share which merchant/retailer that already join with Collateral?
after checking your site, there are stablecoin mentioned for stake in your platform, so can you explain what stable coin that you will accept in collateral platform? are there any plan for stake famous coin like BTC / ETH ? how about alt coin ?
i see that Collateral have Loan system, could you please tell me how much the interest rate from Collateral Loan ? and if i take your ‘instant loan’ , how much i must pay in return ? can you describe how does your loan system work ?
The $COLL will have its IDO on duckstarter this 31st March, so obtain the more attention before this event possible is key to you, so can you tell us what are the “Join in” requirements?
i read your site and happy that Collateral already audit by Techrate and Hacken. i think security is one of important thing in a DEFI project and must take very seriously, so can you explain how is collateral mechanism try to protect user’s fund in your platform? do you have any insurance?
Over the past 30 days, the number of your Twitter users has increased by 5949 people, and in Telegram by 4488 people. What is the reason for such a rapid growth of users and what are your forecasts for growth in the future? What do you plan to do in this regard?
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Why your site shows generic WP theme, is it hacked and what message does this send?