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$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Centaur Team will select 10 questions and answer them.
Part 3: 800$ – A quiz about Centaur
For more details:
Centaur – @OfficialCentaur
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
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$/10 users – Open chat for 120 seconds. You can post Max 3 questions. GamyFi Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about GamyFi
For more details:
GamyFi – @GamyFi_HQ
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from NEWV.FINANCE and our guest was SirenDan@NewvFinance – CMO of NewV Finance and Eric NewvFinance – CEO of Newv Finance. The AMA took place on 24 March.
The total reward pool was 500$ and has been split into 3 parts.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Website
Mary | Satoshi Club:
Hello Satoshi Club! We are happy to announce our AMA session with NEWV FINANCE!
Welcome to Satoshi Club😀
D. | Satoshi Club: Our today’s guests – @Siren_Dan and @NewvEric ! welcome to Satoshi Club guys! nice to have you here! 👋
Eric NewvFinance: My hornor.
SirenDan@NewvFinance: Glad to be here.
SirenDan@NewvFinance:
Thanks to everyone for coming
Mary | Satoshi Club:
Hello, guys! Happy to see you here 👍
How’s going?
Eric NewvFinance:
Glad to see you guys here
SirenDan@NewvFinance: Its getting crazy, we just announced the time and date for our Crowdsale a couple hours ago….so…..you know…..crazy time! hah
Mary | Satoshi Club: I can imagine!😂
Eric NewvFinance:
Good timing for AMA
D. | Satoshi Club: Coool😊 and when your sale starting?
Eric NewvFinance:
10:00 am UTC on Mar. 28, 2021
Mary | Satoshi Club: Sure, the best😉
Eric NewvFinance:
Don’t miss it guys
Mary | Satoshi Club: Just 4 days left!
Eric NewvFinance:
Will be available via Newv.finance
SirenDan@NewvFinance: Ya, only available with BNB…cuz we Luvz BSC
SirenDan@NewvFinance: Haha!
Eric NewvFinance: Our model and mechanism has been tested on HECO and we decided to migrate to BSC.
SirenDan@NewvFinance:
Yes, we already did Version 1 on HECO, and everyting was great. Now we are
upgrading and making it even better. migrating to BSC
Mary | Satoshi Club: That’s interesting 🙂
Eric NewvFinance: The deflationary model that help projects focus on project development in the early stage.
SirenDan@NewvFinance: Just like George Jefferson, we’re moving on up!
Mary | Satoshi Club:
But for the beginning, could you please introduce yourself and tell us what is
NEWV.FINANCE😉
Eric NewvFinance:
No problem at all.
SirenDan@NewvFinance: Right. sorry….i guess we skipped that part.
Eric NewvFinance:
So I’m Eric, the CEO of Newv Finance
HAHA
And my partner Siren the CMO of Newv Finance
SirenDan@NewvFinance:
I’m CMO of NewV Finance
Mary | Satoshi Club: Happy to e-meet you 🙂
Eric NewvFinance:
Nice to meet you Mary
Mary | Satoshi Club:
So, for those who are still not familiar with Newv Finance – what is it🙂
Eric NewvFinance:
So Newv Finance is the startup accelerator on BSC
We aims to smoothen the launch of the project and eliminate rug pull.
SirenDan@NewvFinance:
Yes, provides end-to-end process via smart contracts
The construction of the complete ecosystem of Newv Finance 2.0 consists of the following modules:
Token
Issuance
Crowdsale
NEWW-BNB
LP Staking
Farming
BoardRoom
Sustainable
Business Model
So, all in one, really
Eric NewvFinance:
As I mentioned above, we have created and tested our deflationary system on
HECO. and the features are identified as:
✅ Open-source smart contract – The presale and staking process will be controlled by the smart contract and the contract will be open to the public. ✅ Passive Income: 0.001% NEWW-BNB LP will be extracted from the team’s liquidity pool each block. BNB will be distributed to each NEWW-BNB Liquidity provider as a dividend reward. ✅ Passive deflationary model – When NEWW-BNB LP is extracted, 50% of NEWW will be sent to 0x000000 for destruction, and another 50% of NEWW will be sent to the farm pool as the mining reward. ✅ Deflationary model – 3% deducted as tax for each transfer, where 2/3 of the tax is added to the farm pool as the mining reward. ✅ Farm – 50% of the NEWW that is withdrawn from the liquidity pool and ⅔ of the tax is contributed to the farm pool, where BNB and BUSD can be used to get NEWW tokens. ✅ Invitation Rewards – If address B is invited by address A to enter the farm pool (using the link with the invitation code), 10% of the fee deducted from address B will be awarded to address A. ✅ Profit-driven Liquidity Generator – Liquidity providers will share dividends and the benefits from the increased value of NEWW. ✅ Replicable – Newv Finance team can provide the standardized smart contract to projects with a presale plan on BSV. ✅ Business Model – Newv Finance will build an innovative ILO platform and certify ILOs. Project teams need to purchase NEWW tokens that account for 0.5% of the total circulation. 3% of funds raised in the ILO will be shared by Newv Finance community members. To use Newv Finance’s Protocol, 50% of the tax charged by the project team will be allocated to the Newv Finance’s community as a dividend
D. | Satoshi Club: Nice! this thing is needed, especially on BSC right now 😁
Eric NewvFinance:
So for every block, 0.001% LP will be withdrawn from team’s liquidity pool
Mary | Satoshi Club:
So, you will work only on BSC? I think Heco also will need such kind of
project?
Eric NewvFinance:
BNB will be distributed to LP providers, 50% of NEWW will be burned and the
rest will be as the mining outcome.
SirenDan@NewvFinance: Ya, the key thing is that we already ran this experiment on HECO and everything went well…..early investors and users were happy….now we can improve and move to BSC because we think that market is bigger
Eric NewvFinance: Yes that’s correct, we aim to provide the solution to the blockchain world.
And we have done some improvements
Mary | Satoshi Club: Really? I saw that MDEX volumes are even bigger then Uniswap?
Eric NewvFinance:
Worth to mention, the highest price was 500% higher than the presale price, and
when the snapshot was taken the price was still 10% higher than the presale
price. Which means users trust our model.
BSC users are from all over the world and that’s one of the main reasons
Mary | Satoshi Club: Incredible! This really shows a lot👍
SirenDan@NewvFinance: Yes, a project needs to deliver
We have so far
Mary | Satoshi Club:
Thanks guys for your intro! Do you want to dive deeper into details about Newv
Finance with the questions from our community?
SirenDan@NewvFinance:
Sounds good….ready when you are. Ready, Eric?
Eric NewvFinance:
It’s been well tested and we didn’t let the presale participants down and the
model will not let the crowdsale investors down.
Eric NewvFinance: Always.
Mary | Satoshi Club: 👍
Eric NewvFinance: Thank you.
Mary | Satoshi Club:
@Cool_as_Ice shoot 🚀
Q1 from Telegram user @AmirJosh Why did you migrate NEWV Finance to Binance Smart Chain when you are performing quite fine on HECO? Is this moved done because of NEWV community request? Have you considered to just build a bridge to cater for BSC investors like the other projects?
Eric NewvFinance: That’s a good question.
SirenDan@NewvFinance: I think this question was kinda already asked by Mary. Similar kind of question.
Eric NewvFinance:
We were also trying to integrate the good ideas on the BSC.
D. | Satoshi Club: Yep, Mary loves to ask many questions 😄😉
Eric NewvFinance:
Like farm function, invitation function, liquidity pool funds injection
mechanism
The model on BSC is even better
SirenDan@NewvFinance:
Ya, we went from a Lada to a Lambo
D. | Satoshi Club: So the reason for the launch on HECO was only for test?
SirenDan@NewvFinance:
Anyone here know what a Lada is?
Eric NewvFinance:
We have been given a chance from our community members and we will apply our
solution to other chains as well.
Mary | Satoshi Club: Explain us😉 i know but some need explanations
Eric NewvFinance: Yes, that’s identified in the V1 whitepaper and it worked well.
D. | Satoshi Club: Ok, got it
SirenDan@NewvFinance: It’s a kind of car…… 😉
Eric NewvFinance:
We will build an IDO platform as well and for projects pls feel free to contact
us
You can use the model developed by us which can help you to focus on the project development
Mary | Satoshi Club: I think we have some projects developers here😉
SirenDan@NewvFinance:
Yes, i think that’s the key takeaway from this. The platform V2.0 has been
upgraded so that it can help take projects through all the key stages…..so they
can focus on the projects
Eric NewvFinance:
That’s awesome
SirenDan@NewvFinance: Great. we would love to hear from them
Mary | Satoshi Club:
Thank you, guys! I feel that we covered this question 😀
Ready to proceed?
SirenDan@NewvFinance:
We have a specific group where our community can propose and discuss possible
projects to launch with us
SirenDan@NewvFinance: Sure.
Eric NewvFinance: Thank you pls.
Q2 from Telegram user @JesusFre1tes News Finance has a protocol called “Passive Deflation”. This has caught my attention because many platforms systematically burn a constant percentage of their tokens on each transaction. So how does this passive deflation mechanism work within Newv? How do you think this model will help to increase the price of your token and, in turn, increase your holders’ profits? What is the goal of your model?
SirenDan@NewvFinance: Interesting one.
Eric NewvFinance:
I will start backwards. What’s the goal of our model
SirenDan@NewvFinance: Someone has been reading the whitepaper. That’s good.
Eric NewvFinance:
As aforementioned, we are trying to help projects out from the price-oriented
development what’s why we developed the model and it can be applied to other
projects.
Eric NewvFinance:
For deflation, there are two approches.
Firstly, 0.001% of LP will be accumulated to be withdrawn from the Team’s liquidity pool. 50% of NEWV will be burned
Secondly, 3% of NEWW will be charged per transaction, while 2/3 of it will be burned.
That’s the deflationary part of the system.
D. | Satoshi Club:
50% of all NEWV tokens will be burned?
Eric NewvFinance: For people who read our whitepaper.
SirenDan@NewvFinance: Would you like me to share the diagram of our flow? I think i have it handy here. Or would you like to?
I think a diagram would be helpful
Mary | Satoshi Club:
As i know you already burned some team tokens, right?
Eric NewvFinance:
50% from the 0.001% NEWW-BNB LP being withdrawn from team’s liquidity pool each
block will be burned.
SirenDan@NewvFinance: Yes, just 50% of the portion withdrawn.
D. | Satoshi Club:
👍👍👍
Eric NewvFinance: At the V1 stage, team’s token were released 0.01%daily and we burned the token for two weeks after launch.
When migrating, there is no team reserve, only early participants.
Mary | Satoshi Club: Got it!😀
Eric NewvFinance: For V2, token will only be minted once the crowd sale is done.
Worth mentioning, we will call contract to lock 50% of BNB raised from the crowdsale.
Eric NewvFinance:
When 4,000 BNB is reached, there will be an 61.5% increase for the price
comparing to the crowdsale price
For your better understanding
SirenDan@NewvFinance:
There we go. That’s the chart i was talking about….
Mary | Satoshi Club: Nice picture! I love visualizations!
Eric NewvFinance:
It takes time for digesting.
SirenDan@NewvFinance: Love or Live, both apply 😉
Eric NewvFinance: Haha.
SirenDan@NewvFinance:
I think we nailed that question, how about the next one?
Eric NewvFinance:
Pretty much yup
D. | Satoshi Club: Sounds good 😊
Thank you for the good answers guys!
Mary | Satoshi Club:
Btw, as i know you previously had an issue with your homepage? Did you solve
it?
SirenDan@NewvFinance: What issue do you mean?
Eric NewvFinance:
Regarding?
Not all functions are released
Some of them like farm and boardroom are under testing.
Q3 from Telegram User @Indomiekuy There is an issue that most of DEFI projects have when it’s about farm projects, prices become dump it’s all thanks to farmers. Can you explain to us how Newvfi project way to solve this issue?
Mary | Satoshi Club: Got it👍
Eric NewvFinance:
Yup the reason the price is dropped can be identified as the supply dimension
and users dimension.
In terms of Newv Finance, though we have farm function, the NEWW source is not generated by nonsense.
It’s from the Team’s LP being withdrawn each block and transaction fee.
Which will not lead to inflation.
In terms of user dimension, is users want to receive BNB, they need to purchase NEWW from the market. It will then push the price of NEWW as there will be no NEWWW on the market when listed on Pancake.
We also have the invitation function to encourage users to invite friends,
SirenDan@NewvFinance:
Yes, it’s multi-faceted
Mary | Satoshi Club: Referral?
Eric NewvFinance:
That’s correct
SirenDan@NewvFinance: Correct.
Mary | Satoshi Club:
Wow, can you tell us more about this system?
Eric NewvFinance:
If address B is invited by address A to enter the Farm pool (using the link
with the invitation code), 10% of the fee deducted from address B will be
awarded to address A.
SirenDan@NewvFinance: I dont think we need a chart for that one haha.
D. | Satoshi Club: Lp farming will be available on your platform? after the launch.
Eric NewvFinance:
LP farming will be available shortly after the end of Crowdsale
SirenDan@NewvFinance: Correct.
Eric NewvFinance:
BNB pool and BUSD pool will be available.
D. | Satoshi Club: Got it, so only one pool?
SirenDan@NewvFinance: Two pools.
For the farm pool, the initial APY for the BUSD pool and BNB pool will be 52,560%. As we all know, APY changes as the size of the LP changes, so this should only be taken as a reference.
Eric NewvFinance:
It changes all the time
D. | Satoshi Club: Yep, we know that haha 😄
SirenDan@NewvFinance: Yup.
Eric NewvFinance: That condition was set when the hardcap is reached.
Mary | Satoshi Club: Good APY😉
Eric NewvFinance:
And for liquidity providers, the initial APY is expected to be 21,024%,
42,048%, 147,168% for 3 days, 7 days and 14 days lock up period, respectively.
SirenDan@NewvFinance:
That’s based on reaching hardcap
Eric NewvFinance:
As all processes are controlled by audited smart contract, it will be safe for
everyone
Eric NewvFinance: Clean history of our team as well haha.
SirenDan@NewvFinance: @madamlobster hope we’re not talking too much haha.
Eric NewvFinance: Sorry if we are
Next question probably?
D. | Satoshi Club: So if particular hardcap won’t be reach that’s mean APY would be different?
Mary | Satoshi Club: It was audited, that’s great! Could you give us link to audit😀 some our users like to read them😉
Of course no, you’re here to talk😂
Eric NewvFinance: It changes all the time mate.
Mary | Satoshi Club: And tell us as much as possible about Newv Finance 🎉
Eric NewvFinance: Sure thing, will be announced before the crowdsale.
Eric NewvFinance:
Will be fully disclosed and transparrent
Mary | Satoshi Club: Gotcha 👍
SirenDan@NewvFinance: Yes, of course. Slightly different. But, V1.0 was successful. So, we are confident that track record gives people confidence for V2.0
I think the main thing to remember is that V1.0 was already run and went very smoothly…so many of the concerns are actually already in our rear view mirror 😉
Eric NewvFinance:
Feel free to communicate with our community members
Mary | Satoshi Club: Yes, that’s very goid that you tested it before!
Thank you, guys for your answers! Ready to jump to the next question bor you want to add something?
SirenDan@NewvFinance: Sounds good
Q4 from Telegram user @RosemaryBianco Within the vision of Newv Finance, in the ‘start-up stage’, it makes sure to help projects with fundraising and token issuance by providing smart contracts. But I consider the fundraisers to be a success, they need marketing strategies and campaigns to attract more investors interested in the project, so you also help the projects with marketing and advertising for fundraising or just you provide smart contracts. ?
Eric NewvFinance:
All good
SirenDan@NewvFinance: Yes, we work with teams for all stages. We have multiple marketing channels to call on and multiple-languages. Marketing is key, of course
Eric NewvFinance: We wlll also help projects with the marketing for sure
D. | Satoshi Club: Very nice.
Eric NewvFinance:
We will certify the IDO/presale and help projects with all the processes
Mary | Satoshi Club:
Do you plan any partnerships, btw?😄
This is always good marketing
Eric NewvFinance:
Founders, I’m available 24/7
Mary | Satoshi Club: Do you even sleep?😉
D. | Satoshi Club: So we can call your platform as ‘incubator’ for all new projects?
SirenDan@NewvFinance:
Sleep is for pussies haha
Eric NewvFinance: Mainly with some communities and once the ILO platform is launched, we willl announce the partnership.
Mary | Satoshi Club: Ahaha 🤣
SirenDan@NewvFinance: Indeed.
Eric NewvFinance:
Mary | Satoshi Club: Cool 😎
Eric NewvFinance: You may take a look at the interface.
Eric NewvFinance: In dark theme though.
Mary | Satoshi Club: It looks attractive 😍
SirenDan@NewvFinance: Yes, we’re already building the blocks for all of that.
Mary | Satoshi Club: How many team members do you have?
SirenDan@NewvFinance:
Right now we have 7 core members. Plus our moderators
And community managers.
Mary | Satoshi Club: Nice! Are you public or prefer to stay anonymous?😄
Eric NewvFinance:
One mod haha, most of them are fom dev team.
We prefer to stay Anon as we do believe as smart contract is disclosed and audited, there is no risk for anyone. Smart contract speaks for itself.
SirenDan@NewvFinance: Yes, our team works from various jurisdictions so, you never know there way the wind is blowing these days. So, as Eric said…..we let the smart contracts do the talking.
Mary | Satoshi Club:
Understand 😀
SirenDan@NewvFinance:
In Code we Trust
Mary | Satoshi Club: Sure!👍 We are in crypto
Thank you for your answers! Ready to proceed, guys?
SirenDan@NewvFinance:
Do we still have some more questions or are we ready for the quiz?
Ok sure.
SirenDan@NewvFinance: Up to you
Eric NewvFinance: Sure.
Q5 from Telegram user @NataliyaKil Do you use incentive programs to attract more users, investors or maybe developers: contests, airdrops, referral program, Ambassador program? Can we take part in some of them now?
Eric NewvFinance:
We do have an incentive program
SirenDan@NewvFinance: Yes we do.
D. | Satoshi Club: We have 6 in this part and 10 in the next one.
In an effort to reward the loyal
followers of NewV Finance, those who step up to help to build community groups
for NewV Finance will be rewarded with special bonuses in the Crowdsale.
Level 1:
500 members, minimum 1,000 messages per day; can purchase $10,000 worth in the
Crowdsale with 15% bonus (Maximum 5 Groups)
Level 2:
400 members, minimum 700 messages per day; can purchase $4,000 worth in the
Crowdsale with 15% bonus (Maximum 10 Groups)
Level 3:
300 members, minimum 400 messages per day; can purchase $2,000 worth in the
Crowdsale with 10% bonus (Maximum 20 Groups)
Level 4:
200 members, minimum 200 messages per day; can purchase $1,000 worth in the
Crowdsale with 10% bonus (Maximum 50 Groups)
Specifics:
You need to follow Newv Finance’s official Twitter account: https://twitter.com/NEWVFI
You need to join the Newv Finance Telegram Group: https://t.me/newvfinance
First come, first serve. For example, when the maximum number of groups for level 1 are reached, the bonus for – the lower level will be applied.
Only Kakao groups and WeChat groups are permitted.
For each group created, a representative of Newv Finance and a Newv Finance investor must be included among the members. Please contact @NewvEric on telegram.
You must submit your BSC address to the Newv Finance team at least 24 hours prior to the start of the Crowdsale via this form (https://forms.gle/FFEGQi3vSMeWRa1T9)
Your bonus NEWW will be released to you within a reasonable time after the Crowdsale.
Newv Finance reserves the right to withhold the final release of the tokens where necessary.
✅Whitelist Special Priority Condition 2:
200 Members who help to promote Newv
Finance will be given extra 10% bonuses in the Crowdsale. A list of Telegram
channels will be provided (shorturl.at/szCFP). You simply need to join these
channels and talk about or introduce Newv Finance in those groups in order to
be guaranteed a 10% bonus of NEWW in the Crowdsale.
Specifics:
You need to follow Newv Finance’s official Twitter
account: https://twitter.com/NEWVFI
You need to join the Newv Finance Telegram Group:
https://t.me/newvfinance
You can purchase $500 worth in the Crowdsale with 10%
bonus, which is $50 bonus in NEWW.
If there are more than 200 participants, then the
members who contributed to the most to Newv Finance will be – selected to
receive their spots on the whitelist. So, the more you promote Newv
Finance, the better your chances.
You must submit your BSC address to the Newv Finance
team at least 24 hours prior to the start of the Crowdsale via this form
(https://forms.gle/cUQNNTJpTebP7csJ6)
Your bonus NEWW will be released to you within a
reasonable time after the Crowdsale.
Newv Finance Team reserves the right to withhold the
final release of the tokens where necessary.
Newv Finance Team
20/03/2021
SirenDan@NewvFinance: Ok. got it.
Eric NewvFinance:
Please take a look at the content I just shared.
By assiting us with marketing, you will get bonus NEWW
SirenDan@NewvFinance:
yes, people can get involved now and be guaranteed a spot on the whitelist PLUS
bonus NEWW in the crowdsale
Mary | Satoshi Club: You found an interesting way to spread the world about Newv Finance 😀
SirenDan@NewvFinance: Yes, gotta be creative these days.
Eric NewvFinance: Haha, come to grab the reward guys.
Should be good with this question Marry
Thank you
Mary | Satoshi Club:
Sure! Let’s go to the last!
Q6 from Telegram user @mctrho Do you have a Newv Finance roadmap? Do you have plans for this year 2021? What are your long and short term goals?
SirenDan@NewvFinance: Ok, shoot.
SirenDan@NewvFinance: Wow. that’s a big question.
SirenDan@NewvFinance: You saved the big one for last, i see
D. | Satoshi Club:
😁😁
Eric NewvFinance: Good question.
Haha
Eric NewvFinance:
We do have the roadmap which is to launch IDO platform in late April.
We aim to help 40 projects with their IDO/Presale by the end of 2021
Then we will integrate crosschain service in early 2022
Mary | Satoshi Club: Wow, a lot of projects!
SirenDan@NewvFinance:
so, remember when you asked about when we sleep? well…..maybe in 2022 we can
think about that….haha
Mary | Satoshi Club: Ahaha 🤣
I see that you have huge plans!
SirenDan@NewvFinance: Ok. open the flood gates when you are ready….
Eric NewvFinance: Thank you, guys.
Part 2 — live questions from the Telegram community
Q1 from Telegram user @surendra040 What is the reason for minimum message criteria for whitelisting priority?what if I didn’t send even a single message?
Eric NewvFinance: I think that may confuse some investors and we are sorry about that to name the campaign as whitelist priority campaign.
Q2 from Telegram user @CrisTubista Is it only possible to provide liquidity in the NEWW-BNB pair or will there be others available in the future?
SirenDan@NewvFinance: Good question. There will also be NEWW-BUSD.
Eric NewvFinance: That’s only the incentive to get extra NEWW.
You can participate in the crowsale without being whitelisted.
Q3 from Telegram user @Korryl Can you explain how much the difference price between your MDEX sale and your pre-sale is? Do you have plan to list on other exchangers in the future?
Eric NewvFinance: Sure, so, the price on Mdex was around 30% higher than the presale price. We will consider to be listed on CEX in the future.
The mechanism relies on DEX at the current stage.
Q4 from Telegram user @LyricsSyx Should we worry about the dumping from presale investors will impact the price of NEWW?
SirenDan@NewvFinance: People shouldn’t worry too much about the presale affecting the crowdsale. The total supply of tokens in the Presale was actually fairly small. And the price in the Crowdsale is not much different from that in the Presale.
Q5 from Telegram user @niko518 How does your standardized protocol assist project teams on presale? What benefits does it offer in terms of LP staking and liquidity stimulating?
Eric NewvFinance: Projects can choose whether to use our model or not. Project team don’t need to put the efforts on the development of the presale mechanism but more on the product itself. For LP staking, it will be done by smart contract that will prevent rug pull. For projects, they will gain trust from users easily.
Q6 from Telegram user @KeymerS In the NEWv Finance project, what is the probability of losing money?
Eric NewvFinance: I believe no presale investors suffered loss and i think that’s also impossible for crowdsale participants. As the deflationary model is now better.
Q7 from Telegram user @Yiselen It is my understanding that the development of most projects on the blockchain today is highly dependent on price, which puts enormous pressure on the project team to constantly maintain the token price. What work strategies does the Newv. Finance to free itself from the price pressures that are reflected in the early stages of the project?
Eric NewvFinance: That’s one of the issue we are trying to solve.
Project teams don’t need to focus on the price. Our mechanism will take care of it. So they can focus more the development.
Q8 from Telegram user @mobilejii Where can I read your whitepaper? is it released yet?
Yes, i think that’s important. For so long, teams have had to split their time between working on the project and trying to maintain their token price in the early stages
Q9 from Telegram user @Vencent_33 You said on Telegram that you completed your Presale on HECO and are migrating to BSC. Can you explain how this will affect the coins from the crowdsale?
Eric NewvFinance: Sure. Yes, we completed our Presale on HECO about two weeks ago. 50% of the HT were automatically staked on the dex, and our deflationary model began working.
Part 1: 100 POLVEN /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 POLVEN/10 users – Open chat for 120 seconds. You can post Max 3 questions. Polka Ventures Team will select 10 questions and answer them.
Part 3: 300 POLVEN – A quiz about Polka Ventures
For more details:
Polka Ventures – @polkaventuresannouncements
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Tidal and our guest was Chad Liu – @chadliu638. The AMA took place on the 24th of March.
The AMA session was divided into 3 parts with a total crypto reward pool of 800$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with Tidal! Welcome to Satoshi Club😀 @chadliu638 welcome here 😀 We are really happy to see you here again 😃
Chad Liu: 🙂 Likewise.
Goldie Rocket | Satoshi Club: Therefore, we expect from you new interesting facts about Tidal! 😊
Chad Liu: Ha. Of course. Happy to share our progress so far.
Mary | Satoshi Club: @chadliu638 You can make a very short intro for those who are new here, as you can see we are 50k now😀 And for sure we will be happy to hear about progress 🚀
Chad Liu: Right? I was just about to say last time it was 30~40k, strong community!
Mary | Satoshi Club: We are growing as well.
Chad Liu: Sounds good. A bit background about myself – I have a mathematics, engineering and finance background, came to the crypto space in 2017 working in a venture fund and fell in love with space. The amount of creativity, innovation is definitely ahead of other industries. Earlier last year around April, I started this company by realizing the defi space has a high demand for insurance service. Tidal is a high yield insurance platform to connect sellers and buyers to cover smart contract hacks. The platform offers the functionalities to create custom insurance plans for one or more assets from multiple protocols. The main objective of the platform is to maximize capital efficiency and return to attract LPs while offering competitive insurance premiums to attract buyers. There are a couple of players on the market like nexus mutual and cover protocol, we are in line with such a service category.
Mary | Satoshi Club: You will bring safety to the crypto world👍
Chad Liu: Yes. Hopefully to support the whole Defi space grow bigger.
Goldie Rocket | Satoshi Club: This is a really necessary direction in crypto👍
Mary | Satoshi Club: Thank you for the intro and actually, we have the first question from our community regarding your progress 😀
Chad Liu: Ok.
Goldie Rocket | Satoshi Club: Q1 from Telegram user @NataliyaKil 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?
Mary | Satoshi Club: I think here we will see a long read because I see that Tidal really made a big progress 🚀
Chad Liu: Yes. We did a design update with our product. New website. Released tech paper and some partnerships. We are launching the testnet next week. Currently doing some internal testing. We will release some interesting participation programs with testnet and depends on the progress, mainnet could follow 4~5 weeks after that.
On the fund raising side, we just completed a successful IDO on polkastarter, thanks to their team for all the help. Tomorrow we are conducting a token distribution on the balancer and right after on uniswap to TGE.
Mary | Satoshi Club: Yes, great partnerships, btw! Congratulations 👏 And about testnet – who will be able to participate?
Chad Liu: Everyone has a chance to participate. The program is still in design, we may just need few hundreds of accounts to test, so it could be a first come first serve.
Mary | Satoshi Club: So, we need to be fast! Satoshiclubbers, put your notifications on🚀😉 Thank you for your answers! Ready for the next one?😀
Chad Liu: Yes!
Goldie Rocket | Satoshi Club: Q2 from Telegram user @Highpee 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 the 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.
Chad Liu: Yes. Total 138 listed address is already randomly selected from the total applications. We used 3rd party service Fractal to help us accepting applications and the KYC process. Total tickets are 125 and a bit extra just to leave some room if someone missed the time or other issues not getting the ticket. Our balancer token distribution event starts tomorrow. Today very soon there will be a detailed announcement about the process. Everyone can participate, the period lasts for 3 days long. I recommend not to rush buying from the beginning, wait for a while and see how the price stabilizes. Regarding the testnet, the detailed program will be released next week.
Mary | Satoshi Club: Thank you! Congratulations! We will wait for the updates from you!
Goldie Rocket | Satoshi Club: Q3 from Telegram user @meml97 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?
Chad Liu: Yes. The gas fee is a big problem. During the testnet, we will work on the solution with polygon, that’s the current plan. For longer-term Q2 our plan is to migrate to Polkadot parachain that are compatible with Ethereum such as Moonbeam.
Mary | Satoshi Club: This will be amazing, can’t wait till Polkadot will go live! Do you want to add something or we can go to the next question?
Chad Liu: Let’s go to next. I was just about to say it’s going to be exciting to see how the Polkadot ecosystem evolves. I hope it attracts a lot of liquidity in Q2.
Goldie Rocket | Satoshi Club: There is no doubt about it🚀🚀🚀
Q4 from Telegram user @ovkneze_big 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?
Chad Liu: Both. Tidal’s design is positioned a bit differently than NXM. We allow insurance sellers to backup more protocols while having the knowledge and appetite to take on a bit more risks. And our target insured protocols are leaning towards a bit newer protocols. The healthy competition part will drive the insurance price lower and affordable for defi users. And the collaboration could be re-insuring, for example, Tidal would need insurance cover for our own platform too.
Mary | Satoshi Club: Great answer! We need healthy competition 🙂
Goldie Rocket | Satoshi Club: This is a reasonable attitude! Ready for the next question?
Chad Liu: Yep.
Goldie Rocket | Satoshi Club: Q5 from Telegram user @MihaiPisica 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.
Chad Liu: Yes. We booked 2 audits starting in early April. The reason for not starting so soon is that the testnet may cause some changes to the code. Our development team is aware of the known security risks – flash loan and price oracle manipulation attacks, token mining, etc. We are doubling down the effort to ensure. Also, our design is a bit different than dex and lending protocols, flash loan and price oracle attacks have very low risk on our platform.
Mary | Satoshi Club: Thank you! Sure you understand security priority and everyone will be safe with Tidal!
Goldie Rocket | Satoshi Club: Don’t forget to share with curious Satoshi Clubbers😁
Chad Liu: 🙏🙏🙏
Mary | Satoshi Club: And just one 6th question left from this part 😀 Ready?
Chad Liu: Yes.
Goldie Rocket | Satoshi Club: Q6 from Telegram user @borysfireball 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?
Chad Liu: Yes. This is an unique feature we added a couple of months ago into the product. Guarantors are designed for protocol teams themselves and their token holders to back up against their own protocol. For e.g. AAVE holders can deposit AAVE to insure against AAVE protocol on Tidal, earning yield from the total cover sold for AAVE, as well as some TIDAL tokens as incentives. The risk they are taking is that if AAVE gets hacked, up to 30% of the guarantor fund will be used as compensation. But the upside is that such a guarantor fund would attract more liquidity from tidal insurance sellers willing to back them up. Hence generate more covers. We have to chat with many protocol teams and liquidity providers on their feedbacks and came up with this design.
Mary | Satoshi Club: A great feature I should say👍
Goldie Rocket | Satoshi Club: Thanks a lot for the great answers!
Mary | Satoshi Club: Thank you, I feel that when Tidal will go live it will be something huge! And now we will have live part😀
Chad Liu: 🙂 Thank you. Its teamwork. Yes.
Mary | Satoshi Club: Let’s go 🚀
Part 2 — live questions from the Telegram community
Q1 from Telegram user @ Derick Abraham
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 the resulting market decline?
Chad Liu: Right now the service only covers asset loss due to smart contract hacks. Well, known ones are flash loan attacks. the price insurance could be something we will expand into. But as right there are various products to cover that area as well – option trading.
Q2 from Telegram user @ Hakeem
How was the IDO on Polkastarter and what next for Tidal?
Chad Liu: It was a success with Polkastarter IDO. We received over 200k applications. It was a bit overwhelming but a good problem to have I guess. Our next step is balancer token distribution for 3 days, to get a good sense of the token price then DEX offering after that.
Q3 from Telegram user @ Boylut
You said your balancer token distribution event starts tomorrow, how will the process go? Is there an announcement as regards this?
Chad Liu: Yes. the announcement should come out in a couple of hours. I will share with the Satoshi community.
Q4 from Telegram user @ V!c➕or
When can we expect Tidal to go live?
Chad Liu: I would say late April. Depends on how smooth with testnet, it could cause a delay if major issues are found.
Q5 from Telegram user @ CoinTravolta
How will Tidal Finance’s Basic Design concept increase your capital efficiency?
Chad Liu: We allow insurance sellers (LPs) to backup multiple protocols at the same time (leverage up) their capital. Making more returns from insurance premium while taking a bit higher risk.
Q6 from Telegram user @ EsrarengizBTC
Do you have a simple explanation and a sample situation insurance fund Is it possible to make a refund?
Chad Liu: If I understand correctly you mean liquidity providers taking their funds out? On our platform, it takes about 14 days to withdraw. It could take longer if the pending period has some valid claim that occurred against capital.
Q7 from Telegram user @ Surendra Satoshi Club
Hello! @chadliu638. A few months back after we can see another Ama in Satoshi Club, is Satoshi club your partner?
Chad Liu: Satoshi club holds a good community that gives every project good exposure to its audience. Always happy to give an update on our project here.
Q8 from Telegram user @ Gutierrez04
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?
Chad Liu: Our cover may be a bit different than what you think – give an example, some assets are deposited into Defi protocols, e.g. harvest, pickle, and sometimes the attack can drain the fund in their protocol.
Q9 from Telegram user @ Sen
Tidal Finance has a something called “Treasury wallet” where is collected all fees, so can you explain to us what is the reasons for having these funds? To what will you use it?
Chad Liu: Treasury wallet because holds the profits generated by the platform. The fund will be used for certain expenses. E.g. development, marketing, etc., and incentives giving back to token holders. Furthermore, some funds to back up the insurance claims if there is any shortage of our reserve pool.
Q10 from Telegram user @ Jacob
Can TIDAL reject an insurance claim request? If yes, what might be the grounds of disapproval?
Chad Liu: Our claim process has 2 steps. First-round token hold vote. 2nd round 3rd party auditor committee validation. The claim could be rejected. But the token holder’s vote will be in line with the platform’s interest and success to approve a valid claim. And 3rd auditor committee will be an additional layer to ensure the process.
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
For more information and future AMAs, join our Social Media channels:
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Part 3: 300$ – A quiz about Arianee
For more details:
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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$/10 users – Open chat for 120 seconds. You can post Max 3 questions. MultiPlay Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about MultiPlay
For more details:
MultiPlay – @Multiplays
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guest from Vlad.Finance. The AMA took place on March 23rd, 2021 and our guest was @DeFiVlad.
The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
Gold Rocket | Satoshi Club: Hello, dear Satoshi Clubbers!We are pleased to announce our AMA with Vlad.Finance. Today our guest is @DeFiVlad!🧛♂️
Andrés M. | Satoshi Club: Welcome to Satoshi club @DeFiVlad
DeFi Vlad – Head of Vlad.Finance: Hey guys! Excited to be here today
Gold Rocket | Satoshi Club: Thanks for joining 😉 how are you doing?🧛♂
DeFi Vlad – Head of Vlad.Finance: Very good..Thanks for having me
Gold Rocket | Satoshi Club: we’re a little excited too. not every day Vlad himself comes to AMA 🧛♂😁
Andrés M. | Satoshi Club: It’s an honor for us
DeFi Vlad – Head of Vlad.Finance: Haha… yes the meme is strong in our community
Gold Rocket | Satoshi Club: If you are ready we have a standard procedure😁
DeFi Vlad – Head of Vlad.Finance: Our community realised we could have a serious defi platform but have fun at the same…we all sit in fron our computers all day…why not smile and have a good time while you are at. itready when you are!
Andrés M. | Satoshi Club: And please give us a short introduction about Vlad.Finance
Gold Rocket | Satoshi Club: To begin with, please tell us a few words about yourselves and how did you get to be involved in crypto & Vlad.Finance?
DeFi Vlad – Head of Vlad.Finance: Sure.. So while I am ANON on this project..I have been working in the industry for many years. I am a consultant on a few projects that all of you would know…and I was CTO of a old project some of you might remember. Currently I am involved with a few fintech projects besides VLAD. VLAD began in a moderators group on TG..The admins of the DeFi Safety group DefiYield.info. I have been admin there for a long time and we have been fighting rugs and scams in DeFi. Our admins started to talk about all the bad projects and scams on BSC and figured we could do better. I joked…i should start $VLAD
Gold Rocket | Satoshi Club: Notable names👍
DeFi Vlad – Head of Vlad.Finance: it snowballed and became a project..We looked at various models but it came together really quick. we had no idea it would go viral on the first day and grow the way it did
Gold Rocket | Satoshi Club: We can say that you are in the right place at the right time.😉 So we quickly formed a real team…worked out how to take our meme coin and build a real BSC platform for the long run
Gold Rocket | Satoshi Club: Sounds good 😉
Andrés M. | Satoshi Club: Why did you choose the BSC platform?
DeFi Vlad – Head of Vlad.Finance: Great Question..BSC is a much easier place for small projects due to transaction fees. Even deploying smart contracts is less of a hurdle on BSC. The other part is we felt it would be easier for smaller defi users to participate and that was important for me. I did not want to create a platform for whales
Andrés M. | Satoshi Club: I agree with you my friend, great decision
DeFi Vlad – Head of Vlad.Finance: Yes. I think all of our choices are made to help build community of all wallet sizes. I know we have many small farmers enjoying the platform with just a few bucks. Everyone is welcome at Vladhalla! lol
Andrés M. | Satoshi Club: Thank you for that great introduction, let’s proceed with the first question of this part of the AMA. Are you ready or do you want to add something?
DeFi Vlad – Head of Vlad.Finance: go for it…im excited to see what questions you have for me
Q1 from Telegram User @Lostcoin1
What motivates your
choice behind the NFT artists you are selecting for Vlad? Do you see yourself
choosing more famous artists in the future? It could be cool to onboard
known/famous artists that have never made NFTs before.
DeFi Vlad – Head of Vlad.Finance: When we started the project and decided to add the NFT platform. I had no idea how to find artists or what kind of art to do. It was a great learning expience.. What ended up happening is I just started talking to anyone who would listen. At first when I would say..Hey, Im from VLAD and we need art based on a PEPE DRAKUL.. not alot of people would listen to me…However as the project matured it got easier. Artists started to contact me and known artists started to take my calls.
Eventually we found a path by working with establish unknown artists who were looking to get into NFTs and some known established artists who i convinced to make some amazing art. The first collection features 3 works by a “known” NFT artist and 7 by unkown artists. In the near future we will continue blending known and unknown artits… in the long run the artists will be curated by VLAD holder… #alpha
Andrés M. | Satoshi Club: Please share with us some of those works 😃
Gold Rocket | Satoshi Club: this is quite competent marketing you did it 👍
DeFi Vlad – Head of Vlad.Finance: Ok one moment please
This piece for example was done in collab with two artists. One did the painting and the other created the effects. its one of two different Gates of Vladhalla pieces. Ill share another one. moment please
Gold Rocket | Satoshi Club: Very nice😍
Andrés M. | Satoshi Club: Wow I like the concept
DeFi Vlad – Head of Vlad.Finance: You can ask next question while I download the next one
Andrés M. | Satoshi Club: For sure. Thanks for share those pieces of art👏
DeFi Vlad – Head of Vlad.Finance:
Gold Rocket | Satoshi Club: I think what you are doing is unique. tell me how you protect copyright. is there copy protection for these works of art?
Q2
from Telegram User @johana0012
The doors of Vladhalla will open through your market very soon. Bringing the best NFT art on the BSC Network. Can you explain the relationship between the first Genesis NFTs created by emerging artists on Binance Smart Chain with $ VIDA?
Andrés M. | Satoshi Club: A question in relation with that we was talking about
DeFi Vlad – Head of Vlad.Finance: So due to timing of project and how it started and several other factors. The first collection of NFTs are purely artistic at this point with several rarity tiers. Due to timing and complexity we were not able to add utility to them at launch..However the team is focused on utility based NFTs in the future and its my intension to bring untility to the most rarest 1st edition NFTs at some point. all our art is unique…I worked directly with artists to make sure they are unique and fun and different…no copy right…I think with NFTs it doesnt matter if someone steals it..Only our NFTS will be created from our account and the NFT owners will know they own the original
Gold Rocket | Satoshi Club: Yes! you still have a lot of work👍
Andrés M. | Satoshi Club: Yes, that’s the benefit of NFTs, all of them are uniques in the blockchain
DeFi Vlad – Head of Vlad.Finance: we havent even released teh full internal roadmap…there is sooo much work left to be done..Hopefully the community lets us keep building and building
Gold Rocket | Satoshi Club: It’s good that you think about it. We are at the moment of the birth of a new crypto art. 😊🚀
DeFi Vlad – Head of Vlad.Finance: The Vladiator community wanted me to share one more piece. it hasnt gone through our post production effects yet so the final piece will look different but they love it as it is already so ill share
Gold Rocket | Satoshi Club: With our pleasure
DeFi Vlad – Head of Vlad.Finance:
Golden Pepes Drakul
Gold Rocket | Satoshi Club: i like this one😁. golden mustache suits him very much 😁
Andrés M. | Satoshi Club: So, what is your main target for 2021?
DeFi Vlad – Head of Vlad.Finance: Great question… Right now our team is focused on:
1st edition NFTs
2nd edition NFTs
MarketPlace launch
3rd edition utility NFTs
We are working on the marketplace to have liquidity in every NFT so that users can sell back to the marketplace without waiting for a buyer… #alpha
Andrés M. | Satoshi Club: Great targets for this year, it’s seems that you will be really busy😁
DeFi Vlad – Head of Vlad.Finance: That’s our target for the next 2 months lol. After that I have even more items planned but let’s not get ahead of ourselves. It’s a ton of work to get thru as it is
Andrés M. | Satoshi Club: For sure my friend. Then, are you ready to proceed with our next question?
DeFi Vlad – Head of Vlad.Finance: Yes please
Q3
from Telegram User @Michelth
Users can choose to be
liquidity providers (LP) in different pools and all of them reward LIFE. Could
you detail the pools and their respective yield multiplier for farmers?
Gold Rocket | Satoshi Club: We wish you strength and immortality as written on your website💪😁
DeFi Vlad – Head of Vlad.Finance: Yes we have 4 pools on our website app.vlad.finance
VLAD-bUSD x 10
VLAD-BNB x 10
LIFE-bUSD x 4
LIFE-BNB x 4
They all earn LIFE rewards. you can use SUPRA finance vaults to autocompound or Friction.Finance to earn TAO
Andrés M. | Satoshi Club: Btw, congratulations Satoshi Club community, we are 50k members 🥳
Gold Rocket | Satoshi Club: Congratulations 🎉🎊👏
DeFi Vlad – Head of Vlad.Finance: Noticed that too! Congrats!
Andrés M. | Satoshi Club: Is there a mobile app planned?
DeFi Vlad – Head of Vlad.Finance: We will not create a specific mobile app for VLAD.. As a DeFi safety guy at heart…doing Defi on your phone might sound fun..But boy does that leave you exposed…in real life..phone loss, accidental screen touches etc!
Andrés M. | Satoshi Club: That’s true, a phone doesn’t provide safety at all
DeFi Vlad – Head of Vlad.Finance: I think our site works in mobile and you can interact, however some users have said that our music player is not optimal on mobile
Andrés M. | Satoshi Club: Thank you, the group has growing with the help of amazing projects like yours👏
Thanks for the clarification
Gold Rocket | Satoshi Club: Safety first👍 @DeFiVlad Speaking of safety, by the way. Are you planning an audit of smart contracts?
DeFi Vlad – Head of Vlad.Finance: Yes we are… With our partnership with Friction.Finance we will get reviewed by CERTIK. Due to our community engagement we will also get a DefiYield audit ( most important for me! best auditor there is!!! ) I also talked to Solidity about an audit which they will do as soon as our marketplace contracts are done. They are great guys there..I have butted heads with them before over some bad projects that got by their team but they admitted to past issues and changed how they operate now and I think they are doing a great job.
Andrés M. | Satoshi Club: Congratulations, a great step to generate user trust
DeFi Vlad – Head of Vlad.Finance: My focus the past year or so has been DeFi safety….so protecting our own users is priority #1
Gold Rocket | Satoshi Club: excellent selection of auditors👍 thanks for the answer! Ready to jump on to the next question
DeFi Vlad – Head of Vlad.Finance: yes
Q4
from Telegram User @Brainchest
Seeing the picture of the
Bank of Vladhalla in the article on Medium, I thought it not only sounds very
cool, but what if there will be a DeFi project with the ability to buy tokens
directly from my card?
Question. Do you have
plans to make a fiat gateway to buy and sell for fiat earned tokens or NFT?
DeFi Vlad – Head of Vlad.Finance:
Gold Rocket | Satoshi Club: Lol… How many more aces do you have up your sleeve?😁
DeFi
Vlad – Head of Vlad.Finance:
Another great question…So like I said I am involved
in Fintech projects apart from VLAD. Creating fiat on and off ramps is not easy!!!
Gold
Rocket | Satoshi Club: I cannot catch you by surprise. You have nft for all
questions 😁
DeFi
Vlad – Head of Vlad.Finance: The regulatory hurdles are
insane. I have a project that was tied up in governement regulations for years… Fiat to crypto and crypto is not fast or simple… So i dont see us exploring that avenue for now.. However…There are more and more companies offering
plugins that process fiat into crypto..like simplexx for example…maybe in the
future we will add support for something like that…if they start to support BSC
projects
Gold
Rocket | Satoshi Club: For some reason, it seems to me that this time is
already close! Do you want to add something?
Or can we proceed to the next question?
One of the premises of this project is “HOLD to
achieve immortality”, how does the process to earn income passively just by
doing HOLDING works? Which of the tokens on your platform is destined to be the
protagonist in relation to rewards and incentives?
DeFi
Vlad – Head of Vlad.Finance: another good one. So while LIFE is getting all the attention right now
with NFT drops coming soon… VLAD is
the core token…it will always be the core token… just something to think about 😉 The HODL
behind VLAD is that its an auto yield token…2% of each transaction is burned
which reduces the supply and another 2%
is distributed to all HOLDers. they earn passive income…we dont track how much daily since its based on
volume but users say they get a very healthy amount daily..we even have a guy
we call the ATM owner who shows up once a day to tell us how much he earned
that day
Andrés
M. | Satoshi Club: Talking about VLAD token, could tell us about
tokenomics, how is the amount distribution?
DeFi
Vlad – Head of Vlad.Finance: yeah…sure… So when me and the team launched the project we decided to make it as fair as
possible. We minted
1m token.. 10% went
to treasury…which we have been using to pay artists and devs and upcoming
marketing costs. 10% was
split between the team, myself and some lucky airdroppers. the other 80% we put in pancakeswap with a TINY
amount of liquidity and then I burned the LP token to lock it forever
The first hours of VLAD were wild..since the
liquidity was so small, poeple were building stacks like $20 at a time..no
whales could buy up a big portion within hours we went from like 0.001c per VLAD to i think 30c on the
first day. I can’t
recall the exact specifics but it was a wild first few days
Gold
Rocket | Satoshi Club: Incredible!👏
DeFi
Vlad – Head of Vlad.Finance: of the 10% i personally only
have 10% im
nowhere near the top 20 holders even… Its about as fair as I could be
Gold
Rocket | Satoshi Club: Thank you very much for your answers! Everything is
clear to me! Are you ready to move on to the last question in this part?
DeFi
Vlad – Head of Vlad.Finance: yes
Andrés
M. | Satoshi Club: As well is clear for me, thank you @DeFiVlad for
this detailed answers. And now
we have the last question of this part
Q6 from Telegram User @JesusFre1tes
Vlad is aiming to push premium NFT tokens on the BSC
chain. We know that BSC is the new booming network, many projects are being
built or have migrated to BSC. What are the reasons why you decided to work
with this network? Why do you think BSC will give you more value and use cases
for your NFTs to become premium? How will this network help you unlock the
potential that is still missing in today’s NFTs?
DeFi
Vlad – Head of Vlad.Finance: I think we covered part of
this earlier but one could say LIFE is easier on BSC …lol
-cheaper fees for users
-cheaper deployement for devs ( which means more
testing )
– faster transactions so no waiting..
Aside from that..I think BSC users are more open to
expreimental protocols and doing different things..
I think becuase the fees are so low..users can also
experiment with small amounts of money to see what they like and don’t like.
Gold
Rocket | Satoshi Club: Thanks a lot for your time and answers! It was very
educational! 👍
DeFi
Vlad – Head of Vlad.Finance: i think NFTS are mostly on
ERC network now becuase that is where the good artists are and good
marketplaces are… That was
my goal since the start of this project..Bring that awesome art to BSC
Andrés
M. | Satoshi Club: ERC is most known, maybe that’s the reason, people
don’t know the benefits of BSC
DeFi
Vlad – Head of Vlad.Finance: We will bring them over…one
Vladiator at a time!
Andrés
M. | Satoshi Club: Great goal my friend and great project, we are happy
to know all that info about Vlad.Finance, I enjoyed to much this first part of
the AMA😁
DeFi Vlad – Head of Vlad.Finance: Thats what we want to do now..Make really high quality art based on a light hearted subject matter that brings us all together
Part 2 — live questions from the Telegram community
Q1 from Telegram User@JuanSB07
🐗🧛🏻🏚️⚰️ Vlad Finance
on his website has images and some animations inspired by vampires and some
species of monsters. Which is fun for a lot of fans of vampirism. Could you
tell me what is the origin and the reasons why they were based on these themes?
DeFi Vlad – Head of Vlad.Finance: Well…as I stated the project started a bit silly and meme like..The name VLAD came first becasue I am VLAD…wasn’t ego driven but more meme driven…
After we knew it was called VLAD…there was only one way it could go! the most famous Vlad of all Vlad Tepes Drakul… aka Dracula..
And we are in crypto so we cant do anything normal so we went with Vlad Pepes Drakul and the meme was born!
This 1st collection of art will honor that meme but expect us to expand our range of art in future collections
Q2 from Telegram User@Antoni_azx
The Genesis Collections will be the first VLAD
NFTs available for minting, can we know which artists are involved in the
creation of this art? Why will your NFTs be valuable and worth to trade?
DeFi Vlad – Head of Vlad.Finance: Yes. Once minting begins we will release and tag all artists involved..Some are already lurking in our TG group.
Q3 from Telegram User@PaperBurns
Has running a token been all that you imagined.
Are you surprised at the time and effort it
takes, or did you know what you were getting yourself into.
DeFi Vlad – Head of Vlad.Finance: Having years of crypto experience has helped for sure..I kind of knew what I was getting into…however my days now are more hectic then expected and the timelines to do everything are faster now than ever. It seems we need to make earth shattering announcements daily to keep community happy…and that’s not just our project but all projects.
Q4 from Telegram User@Luisz2210
🔴 Days ago you
hosted the LIFE logo contest and it was a great payoff for Vlad Finance, How
can i contribute my artwork to Vlad Finance? How do you select your art
designers? Will you hold more contests the next week or most likely in April?
DeFi Vlad – Head of Vlad.Finance: Yes.. We have been trying to involve the community as much as possible.
Meme contest
Logo contest
most of the artists also came through the community…
We will continue to hold contests in the near future…
As for artists contribution..the easiest way to get involved is to DM directly and we can talk!
Q5 from Telegram User @mobilejii
Hello! @DeFiVlad
✅ why your team
is anon, can we see your team public in
future?
DeFi Vlad – Head of Vlad.Finance: I am the easiest to DOXX team member…I am sure if you scroll back my twitter account…you will find pics of me and my family.
We went anon for 2 reasons.
– allow my team to stay anon
– you guys prefer Anon projects…We have tested this..
When a project or twitter account is anon…the project is taken at its own merit..
When you have a doxxed team, I think it becomes more about that person..who is he? why should we care about him?
When its anon.. you either like the project or not
Q6 from Telegram User@centoscu
Can I ask what will you focus on next year, the
management of the project maybe to gain more community and users or any other?
DeFi Vlad – Head of Vlad.Finance: Once we have a marketplace ready…we will focus on getting the community involved in curration of art that will be on the platform. As a community we can make sure we only have the highest quality art that is worthy of hanging in the halls of Vladhalla
Q7 from Telegram User@NataliyaKil
Your Medium page is registered as Vlad Pepe.
Are you somehow connected with the GoPepe project, which gave the NFT world
trading cards with Pepe characters?
DeFi Vlad – Head of Vlad.Finance: So yes.. When we decided on the Vlad / drakul theme with pepe we quickly found Vlad Pepes based on an amazing artists from Europe.. We have been in contact with her but still in the process of getting her on board..
We have since moved to our own versions of Pepe Drakul as you see in our art.
We are not assosiated with any other pepe projects at this time.
Q8 from Telegram User@JasmineSha
Hello Defi Vlad,
We all know that ETH2 is comming with more
speed and lower fees, is it possible to see you work With ETH2 in the future
side by side with BSC ?
DeFi Vlad – Head of Vlad.Finance: Ideally yes..I would love to bring Vladhalla to ERC in the future…
I have been looking at code that would allow moving of NFTs cross platform…not sure its possible but I am exploring it!
Q9 from Telegram User@KhaleesiTheCryptoLady
Do you have plan to list VLAD token in CEX?
When and in which exchange do you plan to launch it for listing? #whenBinance 😁
@DeFiVlad
DeFi Vlad – Head of Vlad.Finance: The real answer is probably not. CEX is needed less and less today… I am a big believer in DeFi and use as little CEX as possible when trading. CEX also has issues with reflect tokens… They dont know how to handle them
Q10 from Telegram User@K2ice
Who can have access to the VLAD card?
DeFi Vlad – Head of Vlad.Finance: Everyone will have access the NFTs at the same time…
They will be released in stages…first 3 base NFTs will come for 10 LIFE each.
Few days later we will drop the rares.
Few days later the epics.
Finally the legendaries.
Each wallet will only be allowed to own one of each to make sure there is enough to go around.
Part 3 – Quiz Results
In the final part we tested your knowledge in terms of Vlad.Finance. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from DefiDollar and our guest was @sid_31 one of the Co-Founders of DefiDollar. The AMA took place on 23rd March.
The AMA session was divided into 3 parts with a total
crypto reward pool of 500$
In this AMA Recap we will try to summarise the most
interesting points for you.
Part
1 — introduction and questions from the Telegram community
Mary | Satoshi Club: Hello
Satoshi Club! We are happy to announce our AMA session with DefiDollar! Welcome to Satoshi Club😀
D. | Satoshi Club: our
today’s guest – @sid_31 ! hello and welcome to Satoshi Club! 🤩
Mary | Satoshi Club: @sid_31
welcome here!
Siddharth Jain: Thank
you! happy to be here 🙂
eagerly looking forward to interacting with the
community 😄
Mary | Satoshi Club: Thanks
for visiting us today 😀🚀
We are also excited about today’s AMA 😀 let’s
start 🚀
Could you please introduce yourself and tell us more
about DefiDollar 😀
Siddharth Jain: Hey
Folks! This is Sid, am one of the Co-Founders of DefiDollar
Prior to starting DefiDollar was working on L2 scaling
for Ethereum.
Eager to dig into cryptoeconomics and love to unearth
insights from on-chain data
I take care of the business end of things at
DefiDollar
My Co-founder, Arpit is the tech brains behind the
product and is an ex-google, ex-YC Dude
Both of us are DeFi- buffs and love to tinker with new
products
Interestingly DefiDollar was born at an ETH hackathon
– Hackmoney in 2020
Mary | Satoshi Club: Really?
😀
Siddharth Jain: yup!!
We were looking to build something that we could use for ourselves and being
big hackathon buffs it was a great way to get feedback and test product-market
fit
D. | Satoshi Club: nice!
i know lots of cool projects were born on ETH hackathons 😊
Siddharth Jain: DefiDollar
($DUSD) aims to be a risk-insured stablecoin layer for DeFi. We want to provide
a safe and stable way for users to hold their assets.
We have dual token design:
– The stablecoin index, pegged to $1 – DUSD
– A governance token – DefiDollar DAO ($DFD)
That being said we are making forways into a lot of
exciting spaces – a BTC index with a leading DeFi team 😉 and an option
Coin
you can think of us as a satbility labs outfit at the
edge of innovation for indices and stablecoin adoption
$DUSD is optimized for peg safety, yield and diversification. The basket approach diversifies the risk, allows more types of collateral to be onboarded and allows us to integrate with yield generating DeFi primitives. The inbuilt protocol mechanisms along with arbitrage helps keep the peg close to $1
Mary | Satoshi Club: You
want to bring stability to this wild crypto world😀
Siddharth Jain: we
are definitely trying! 💪
Mary | Satoshi Club: What
about DefiDollar team? 😀
D. | Satoshi Club: how
many people in your team? or only two for now – you and your co-founder?
Siddharth Jain: We
are a group of 6 right now, with 2 people working in part-time capacity
looking forward to adding to our team, so please feel
free to DM me if you are good with crypto amrketing or even solidity
Development 😄
Mary | Satoshi Club: But
your project looks complex! Great job😉
Siddharth Jain: We
are a lean but highly talented bunch of folks working really hard! people ask
me if we have 20 people already in the team we just have 6!!
so if you know anyone or wanna apply, you are welcome
to DM
D. | Satoshi Club: these
6 working for 20! congrats on awesome team 🙌
Siddharth Jain: iI
you wanna know more about the core team – head to
https://docs.dusd.finance/about-us
hahha i think 10 is a more realistic target 🙂
Mary | Satoshi Club: Sure!
Also, i am happy that we can see real names😂 i missed real people
Siddharth Jain: hahhaha
yeah we are a totally public team, with open source code and public investors
as well!
Mary | Satoshi Club: Oh,
it’s very seldom 😂
Siddharth Jain: nothing
against anon teams, but just a lil bit easier to work with real names and build
in public
taxing for sure, but helps in shipping fast 😉
Mary | Satoshi Club: The
same thing😀
Thank you, @sid_31 for your intro! We collected 6
questions from our community about DefiDollar! Are you ready to proceed or want
to add something?
Siddharth Jain: let’s
get started 🙂
D. | Satoshi Club: thank
you for the intro!
let’s do this! 🚀
Q1 from Telegram user @JesusFre1tes
DUSD is built with modularity in mind. It
is very easy to integrate with DUSD smart contracts. How does this help drive
wider adoption of the DefiDollar protocol? I read that DefiDollar handles the
concept of meta-assets backed by other stablecoins. What networks and stable
currencies back the DUSD? What are the smart contracts that are possible to
merge into your protocols?
Siddharth Jain: Great
question!
Defidollar is an index of stablecoins.We can add a new
liquidity pool to provide access to a particular stablecoin and add it to the
index. This is possible due to our modular approach, which enables a quick
turnaround to add more pools and diversify the index. We started with the Curve
suSD pool, made a fork deployment on Swerve, Replaced sUSD with yUSD.
We are stronger than any single coin and can average
out the volatility. Also with our backstop module we can try and deal with the
scenario where a particular stablecoin deviates from its peg.
With a modualr design it is easier to add more peaks –
liquidity pools to the protocol thus helping make the protocol more resilient.
Currently we support the yUSD pool in Curve and leverage the yVaults in Yearn
finance to earn yields for our LP’s
we are cuurently built on top of Curve Finance and
Leverage yearn finance, that goes on to show the flexibility provided by the
modularity and smart system design
we support USDT,DAI, TUSD and USDC for now, with
support being added for the saave curve pool to add sUSD as well
Mary | Satoshi Club: Did
you partner with Curve and Yearn Finance?
D. | Satoshi Club: so
in the future you can support some other stablecoins as well?
Siddharth Jain: this
is correct 🙂
we worked closely to get the product out with them 🙂
D. | Satoshi Club: who
decides which stables will be add to your index and which will be exclude?
Siddharth Jain: this
is not a vanity partnership, we have actual working integrations with both
these protocols
this is currently beign decided by the pools
supported, which are controlled by governance
DFD is the Governance token of the DefiDollar protocol
It will serve two primary functions:
Mary | Satoshi Club: I
noticed😉 good projects to
work closely!
Siddharth Jain: Governance
:
The DFD token will be used to make critical protocol
decision like the following:
-Whitelist & remove peaks
-Assign peak ceilings similar to the ones in Maker
Vaults to balance the index
-Fine tune parameters like redemption fee within a
peak
-Decide on the distribution of the protocol income
and the Protocol Backstop:
DFD will be called in to act as the ultimate backstop
against volatility. Similar to the fashion in which MKR acts as the last line
of defence for DAI.
D. | Satoshi Club: thank
you for answers! 👍
Mary | Satoshi Club: Thanks!
Ready to go to the next question?
Siddharth Jain: they
have endorsed us publically as well
this transition will happen gradually as we keep on
adding more pools
yes indeed!
let’s go go go
Q2 from Telegram user @Rosane1a8
Would you explain what is the function of
a stablecoin aggregator in the ecosystem of DefiDollar, focusing on how it
works and what potential risks of the user are being diminished by the use of
it?
Siddharth Jain: We
are stronger than any single coin and can average out the volatility. Also with
our backstop module we can try and deal with the scenario where a particular
stablecoin deviates from its peg.
Mary | Satoshi Club: How
volatile is your coin now?
Siddharth Jain: with
the number of stablecoins ever increasing It is overwhelming for a novice to
decide what stablecoin to hold and what are the pros and cons of these
different approaches.There are inherent risks with holding a custodial fiat
backed stablecoin – See USDT FUD and more.
Also these stablecoins, especially Crypto backed and
Algorithmic ones range widely in their volatility profiles, this can be a major
deterrent for holders who would want a stable price akin to what they are used
to in real life(ignoring inflation).
Metastablecoins like DefiDollar solve both of these
above mentioned issues.
DefiDollar is composed of a basket of these existing
stablecoins and thus diversifies the holding risk ensuring that your stablecoin
portfolio is protected against volatility and avoids systemic risks.
Given the pace at which stablecoins are coming to
market, we might see increased fragmentation hindering adoption. DefiDollar
isn’t competing with these but can partner and add them to the index – to ensure peg safety and diversification
Mary | Satoshi Club: It
really has sense. So, with DUSD i will always have the same amount of money?😉
Siddharth Jain: DefiDollar
has a lot of products 💪
– The stablecoin Index – DUSD – protects your capital
– The Savings Account – ibDUSD – earns interest on
your capital
– IbBTC – BTC index which allows earning interest (Not
released yet)
Mary | Satoshi Club: If
some of the coins that you added to index will crush (hope no), but if… What
will happened?
Siddharth Jain: depends
how you allocate it, you can put it to work in the savings account
Mary | Satoshi Club: If
i will simple hold it on my wallet?😉
Siddharth Jain:
https://app.dusd.finance/savings
check out the savings account, the APY is juicy
here is a simple step by step guide, you can come into
the savings account with DUSD ,USDT,DAI, TUSD or USDC
D. | Satoshi Club: yes,
very juicy especially for stablecoin 👍
Mary | Satoshi Club: I
like this also👍
Siddharth Jain: we
have a multitiered protection system in place
– Arbitrage
– Safety Module
– Backstop Module
the system will ensure protection against usual
volatility by actively rebalancing, but in case of a black swan scenario – big
deviation they backstop module will need to be activated
here are some of the system parameters that you can see live:
https://duneanalytics.com/sid_31/defidollar
Mary | Satoshi Club:That’s
really nice! So, protection should work and DUSD holders won’t be affected
Siddharth Jain: that
is the intented design
that being said i would never want USDT to fail 😉
Mary | Satoshi Club: I
think no one wants😀
D. | Satoshi Club: this
is some impressive grow a would say 😁👍
Mary | Satoshi Club: Thank
you for your answers! Ready to go to the next question?
Siddharth Jain: shoot!
🙂
Q3 from Telegram User @konditer_rolex
I found information that your future
products will include Interest bearing Bitcoin (ibBTC) on Ethereum, which you
are developing in conjunction with the Badger DAO.Tell us more about the new
Bitcoin storage standard for earning interest.And maybe share some more
interesting developments
Siddharth Jain: steady
growth with no mercenary capital but long term users and holders of both DUSD
and DFD
hahahha this is something that is coming soon!
can’t release much but this is going to be big big
big!!
@konditer_rolex has given some serious aplha leak to
the Satoshi Club community
😄
it is intended to do what satoshi club wants to do,
help people stack more sats 💯🔥
Mary | Satoshi Club: Yes,
we want! Can you tell us approximate dates?😉
Siddharth Jain: Badger
is the leader for BTC on Ethereum and it made sense for us to build this,
expected to bring in huge TVL for DefiDollar 😄
give or take a week! but please know that shipping
products is dependent on a lot of moving parts
please respect both the teams which are hustling to
ship this out asap
Mary | Satoshi Club: Ok,
we will wait then😀
But don’t forget to share this news with us 😉
Thank you for your answers! Ready to proceed?🚀
Siddharth Jain: i
will definitely! 🙏😇
DFD is going to get discovered, we have been building
for long and leading teams are recognizing the work we are doing to create
important infra
we are one of the very few teams from India with a
live product – so it is just a matter of time 🙂
Mary | Satoshi Club: That’s
true! We believe in you👍
Siddharth Jain: thank
you 🙂
let’s cover the next question
Q4 from Telegram user @Wormz28
Many questions they’re asking is about the
Projects Strength, but I think it’s important also to know their weakness, so
may I know if you have weaknesses? If so, how are you trying to solve and
improve it? Also are there any risks in using DefiDollar?
Siddharth Jain: i
think the thing we need to improve is the coverage, which we are doing now with
exposure to communities like the Satoshi Club
DefiDollar is built using the composability of
Ethereum, as i shared we leverage Curve and yearn finance directly
D. | Satoshi Club: so
more marketing?
Mary | Satoshi Club: One
community is covered😂
but it would be better if you will cover us again in the future! It really
works!
Siddharth Jain: We
are a heavilly audited protocol, and have always placed safety and security of
out users first. We launched with two audits and a capped launch to ensure
that.
We believe that although audits reduce the risk by
virtue of having dedicated professionals review the code but they do not
eliminate the risks altogether.
hence we keep on trying to secure the protocol and
think of it as an ongoing exercise
yes indeed, hiring for good operations and marketing
folks, as usual DM me 🙂
Mary | Satoshi Club: Satoshiclubbers!
Let’s do this! I know we have marketing talents here👍😉
Siddharth Jain: would
love to make an appearance again if you folsk would have us, can invite the
badger team for a joint AMA, that would be really cool. let us know 🙂
D. | Satoshi Club: nice!
and i think designers who can create a good sticker pack, for example, for TG
are also welcome? it can help with promo 😉😊
Siddharth Jain: https://docs.dusd.finance/audits
here is a list of our audits and the reports as well for the community to see
Always! 😄 can’t have enough stickers and we
have a competition coming up as well 😉
D. | Satoshi Club: [
👍 Sticker ]
Siddharth Jain: Btw all those yield farmers out there, do
check out our yield farms
damn i was hoping we would cross 50k satoshi club
members during the ama
Mary | Satoshi Club: Almost😂
Siddharth Jain: 😇💯
Mary | Satoshi Club: This
would be very cool🔥🔥🔥
Siddharth Jain: dming 😄
Mary | Satoshi Club: Thank
you for your answers! Ready to jump to the next question?
Siddharth Jain: yes!
Q5 from Telegram user @AmirJosh
I wonder why DefiDollar had no NFT related
services. Do you consider adding the NFTs to your possible products because of
its continuesly growing popularity?
Siddharth Jain: lol
we are not there yet! but we will have a NFT giveaway 😉 🤫
we could also issue DefiDollar OG NFT’s for the protocol’s
users
D. | Satoshi Club: another
leak? 😄
Mary | Satoshi Club: It’s
my dream 😂
i am your user😂
Siddharth Jain: hahahha the satoshi club community deserves it, you
know where to join us –
@defidollar_community
oh wow! that is great , always happy to meet a user of
the protocol
Mary | Satoshi Club: Our
members iniw what to do 😉😂
D. | Satoshi Club: we
should break 4k today! Satoshi clubbers let’s do this! 💪💪💪
Siddharth Jain: i
was thinking like 5k :D😅
let’s make it happen
D. | Satoshi Club: everything
is possible 😄🚀🚀🚀
Mary | Satoshi Club:We
believe in magic, but more than in magic we believe in our community 🚀🚀🚀
let’s do this!
Siddharth Jain: community
is magic ⭐️✨
Mary | Satoshi Club: True!
And just 6th and last question left from this part 😀 ready for it?
Siddharth Jain: fire
away! 💪
Q6 from Telegram user @victorogb
There are numerous projects with stable
coins pegged to a host of internationally traded currencies around the world
with most stable coins pegged against the USD. Most of these stable coins have
proved to be immensely successful with adoption, use and other intricate
features. On adoption and acceptance amongst the DeFi space, how does
DefiDollar tend to weather this storm and compete favourable over the next
couple of months/years?
Siddharth Jain: we
have a lot of interesting products coming out!
first one is the BTC index with badger, the second is the
options liquidity aggregator – Option coin
We kinda consider ourselves as a maverick team that
likes to experiment and kind of think of
DefiDollar as “Stablecoin Labs”
The option coin is the result of some brainstorming
where we wanted to improve the capital efficiency of on chain lending by
incorporating Put options in an elegant way
The key thing we strive for is to ensure that we build
products that will be in demand , can be both right now or in the future
to classify ibBTC with badger will take off right away
but option coin will need the on chain options space to mature before going
mainstream
D. | Satoshi Club: “Stablecoin
Labs” that’s a cool name for another project btw 😁
Siddharth Jain: even
since launching the stablecoin index we have launched a flurry of ancillary
products
there is around 4.5 Million DUSD in the savings
account and around 40% of the circulating supply of DFD is locked in the ibDFD
staking 😄
super numbers :D, but i might be biased 😉
hahah am sure it is already taken
To read more about optioncoin
https://medium.com/defidollar/optioncoin-a0bb65997cb
also it is a great idea to follow us on Twitter :
https://twitter.com/defidollar
for alpha leaks all the time
today’s tweet from yearn finance
Yearn Vault Top Performers 🏆 Stablecoin Pool APYs: 🥇 DUSD: 39.96% 🥈 USDP: 37.89% 🥉 USDN: 35.63%
BTC and ETH APYs: 🥇 oBTC: 28.22% 🥈 pBTC: 27.15% 🥉 stETH: 25.52%
All other asset APYs: 🥇 YFI: 37.30% 🥈 crvLINK: 21.15%
DUSD is the top APY provider in yearn finance vaults
Mary | Satoshi Club: Already
👍
And that’s one if the million reasons to join
DefiDollar 🚀
Siddharth Jain: Also
i did not reaveal all our partners but key Partnerships inlcude Curve Finance, Yearn Finance, SushiSwap –
Onsen,Badger DAO – BTC index, Cream Finance – Iron Bank, Opyn – Option Coin
We are working and building on top of the best in the
industry!
check out who we follow on twitter and you’ll know our
partners 😉
just 11 right now
Mary | Satoshi Club: Names
are really famous! Best of the best!
D. | Satoshi Club: you
are definitely working with a big guys 🤩
Siddharth Jain: yes
and even coingecko
i was on a podcast there recently
Listen to @shutterbugsid (Siddharth Jain), co-founder of @defidollar talk about DeFi Dollar's plans, the difference between $DUSD and $DFD, as well as more of DeFi Dollar’s products! 😊
I
read your Whitepaper and in one part says that DefiDollar is “Curvy”,
I really don’t understand this so can you tell us what do you mean with that?
Siddharth Jain: it
means that we are building on top of curve finance 🙂
Q2 from Telegram user @Indomiekuy
I see that Defidollar also have joint
liquidity mining, how many pool do you have ? can you explain how is the
calculation reward that user will get from your pool ?
Siddharth Jain:
you can find the pools here:
https://app.dusd.finance/lp-rewards
Q3 from Telegram user @victorogb
Is DUSD currently tradable, and if not
when do we expect it to go live?
Siddharth Jain: it
is already live, you can check out this article to learn more
https://medium.com/defidollar/farming-sushi-with-dusd-dfd-on-sushiswap-4c675b47b993
Q4 from Telegram user @KhaleesiTheCryptoLady
In which exchanges I can see DUSD now as
being paired with other tokens? Can you share to us where can we acquire $DUSD
as well as with $DFD?
Siddharth Jain: you
can get DFD on sushiswap, uniswap, balancer
DUSD on the same and also on Curve finance
we have some exchnages coming soon 🤫 can’t
share more details 😉
Q5 from Telegram user @Brainchest
In addition to Playcent, are you planning
to enter other gaming platforms? And what are your plans for BSC (Binance Smart
Chain)?
Siddharth Jain: watch
out our announcement channel for updates, something is coming really soon
;)@defidollarofficial
Q6 from Telegram user @esrarengizbtc
Could you give information about the
protocol layer fee mechanism in the DefiDollar system? Also, what kind of
rewards are accumulated in the DefiDollar protocol?
Siddharth Jain: great
question!
find our fee structure which is deatiled here:
https://docs.dusd.finance/faqs#does-defidollar-charge-any-fees-at-the-protocol-layer
The protocol rewards that accumulate on the DUSD LP
capital are:
-Trading fees generated on the Curve pools
-The yield from the yUSD Peak
-DUSD redeem fee — 0.1%
-The ibDUSD redemption fee — 0.5%
Q7 from Telegram user @Ambarkhan1
Which areas are your team focusing on at
the moment? (DeFi, Stake,Dapps..) and what is your goals in this year?
Siddharth Jain: the
major ones are:
– The ibBTC index
– adding the saave peak
– Option Coin
– Stability module for DUSD
more will come but will slowly sahre that after our
diligence and research
When calculating the stakeholders’ share of
the trading and redemption fees, do you base the total number of DUSD staked or
fees from the entire DUSD supply?
Siddharth Jain: the
protocol earns from all DUSD , the fee distribution is carried out as detailed
here
you get rewards only when you stake DUSD in the
savings account or in the many incentivized Liquidity Mining pools
Q10 from Telegram user @Brainchest
You have started a Cover Protocol for DUSD
insurance. Is this because you recognize that DefiDolar is vulnerable? In any
case, thank you, you have done everything possible to minimize the risks (Cover
Protocol, Bug bounty).
Tell me, will you develop other types of
insurance? For example, insurance against losses in SushiSwap DFD / ETH pool,
if Ether price will fall dramatically. Or a loss of profit, if the pool made
less than the planned percentage of profit in a month/week/year. Naturally,
depending on the variables (profit %/invested amount/day/month/year…), the cost
of insurance will depend.
Siddharth Jain: we
won’t have cover ofr impermanent loss, depening on uniswap or sushiswap to do
the same
but we will supoort more insurance pools and are
already working with teams to enable the same
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Jigstack and our guest was Roby Weir – COO of Jigstack and Charles Robinson – an Ethereum developer and Hedera Hashgraph developer also a conference speaker I’ve been involved with 20 ledger projects. The AMA took place on 22 March.
The total reward pool was 1000$ and has been split into 3 parts.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Website
Gold Rocket | Satoshi
Club:
Hi there, dear community! 😊 We are pleased to
announce our AMA with Jigstack🍋
Gold Rocket | Satoshi
Club:
Today our guests are @RobyGu and @crobinsonoc!
Andrés M. | Satoshi
Club:
Hello dear community😁
Andrés M. | Satoshi
Club:
We are glad to have you here today @RobyGu and @crobinsonoc welcome to Satoshi
club
Roby Weir:
Great to be here 😊
Charles Robinson:
Hey Satoshi how you all doing?
Gold Rocket | Satoshi
Club:
Thanks for joining @RobyGu and @crobinsonoc!🍋
Gold Rocket | Satoshi Club: We are very excited about the upcoming AMA😁
Gold Rocket | Satoshi
Club:
To begin with, please tell us a few words about yourselves and how did you get
to be involved in crypto & Jigstack?
Gold Rocket | Satoshi
Club:
Please make a small intro about yourself and the project 😉🍋
Andrés M. | Satoshi Club: We are great, how about you?😃
Charles Robinson:
I have been involved in Crypto for six years I am a Ethereum developer and
Hedera Hashgraph developer also a conference speaker I’ve been involved with 20
ledger projects I am also an investor. When I was approached by Jigstack to
join the team doing business development I did my research and found that the
team members’ experience in crypto are second-to-none also the vision for
decentralized finance it’s close to my heart. So here we are!
Roby Weir:
I am Roby Weir the COO of Jigstack. My background over the last 10 years has
been developing start-ups in the digital space from the ground up. These have
either been companies I have owned or projects I have invested in. The
E-commerce space is where I have spent most of my time however I have had a
growing interest in blockchain over the last few years and once we came up with
the idea of jigstack I put my hand up to take control of the operations as Defi
and the concept of DAO governance was so appealing to me. Since starting I have
built a strong team around me, and everyone is bringing value from both
traditional tech backgrounds as well as seasoned blockchain/crypto backgrounds.
Exciting times
Charles Robinson:
Q1: benefits of holding the Jigstack token
Andrés M. | Satoshi Club: So, there is a partnership between Hedera and Jigstack, right?
Gold Rocket | Satoshi
Club:
great background guys! nice to meet a colleague – accountant at the AMA btw 😁
Yes! more about this, please!
Charles Robinson:
A1: the STAK token, soon to be launched will be a governance token for our
Ecosystem. It will earn other stack tokens as well as interest based upon user
allocations and possessing the token will directly affect a users ability to
vote on our soon to be announced features for the future. Users earn 80% of our
1% commission for all transactions that execute on the platform for all of our
products. Lemonade is first and we are launching STAK on lemonade followed by
STAK Bank, and our wallet. Did I mention Gallery our up-and-coming NFT solution
on Lemonade? For all of these products, their use generates revenue that is
allocated back to our governance token the STAK
FYI our White Paper will be a living document we are publishing the official version very soon. Please refer to it frequently as we will be keeping it current with all the latest tech and vision on where we are headed. Think of the white paper as our guiding light
Andrés M. | Satoshi Club: Of course, we will be expecting for it
Charles Robinson:
Yes sir
Andrés M. | Satoshi Club: Could you tell us more about STAK bank?
Charles Robinson:
But many these day short cut the WP
Andrés M. | Satoshi Club: Btw, maybe you can share parts of the WP with us through the AMA😁
Charles Robinson:
A little later this week
Gold Rocket | Satoshi Club: Bitcoin white paper 9 pages if I’m not mistaken 😉
Charles Robinson:
Yes but 13 years ago you’ve come a long way baby!
Gold Rocket | Satoshi
Club:
😁 indeed… much has changed since then 🚀
Charles Robinson:
STAK bank will be used for all the latest DeFi features plus some new ones
thrown into the mix. Interest, earning STAK, flash loans, what else would you
like to see? Synths? We are looking for your ideas here so please post and keep
in touch with us
We are exploring JIGBridge which will be a low-cost interchain alternative to swapping and much faster and cheaper. Send me your thoughts.
Andrés M. | Satoshi Club: Yes community, let’s send Charles your amazing ideas 🥳
Well, are you ready for the first question of this part of the AMA? Or do you want to add something?😃
Charles Robinson:
I think we are ready
Q1 from Telegram User @yellowchamp Jigstack embodies the real vision of DeFi which is decentralized finance for the people by the people in which you are Open Source, Transparent and Custodial. Generally,how will your platform applied or implement these 3 components in your platform as an open-source, transparent and custodial? As Jigstack embody the real vision of Defi,how will you get in touch with people and how will you value the opinion and suggestions of the people especially your community members ? How will you give importance to clients and users in Jigstack? Thank you
Gold Rocket | Satoshi Club: Thank! The intro was great👏
Charles Robinson:
Our users are family. Number one priority And that is why we take your
financial interest in us very seriously. We are very security focused also we
are very ease-of-use focused. We want your grandmother to be able to use Crypto
and understand the advanced features of defi which re made intuitive. We say we
defy the confusion of Defi.
As far as open source our Smart Contracts will be open source. Let us know what you’d like to see as far as the driver code for the UA, etc.
Gold Rocket | Satoshi
Club:
it means that you are adherents of mass adoption😁
Charles Robinson:
As far as transparency out users will have voting rights and our DAO will be
state-of/the art. We are working with some of the best minds in decentralized
governance in the industry. Remember our white paper is the highest goal that
will be shooting for and as we develop the software we will be at every stoep
moving towards that vision that is on paper.
Andrés M. | Satoshi Club: Btw, Jigstack has the tittle of “The DAO of DeFi”, how did you become to that?
Charles Robinson:
As far as custody, we are non-custodial but we want our code to be bulletproof.
Remember trust in crypto is paramount. But truth trumps trust. We want our
systems to represent not only trust for all parties but also to represent the
truth of what’s happening in our ecosystem for all users to be able to
rest-assured that Jigstack operates at the highest levels of these guiding
principles and is fast and fair for all.
Gold Rocket | Satoshi
Club:
How about security? Are you planning an audit of smart contracts? If so, have
you already chosen who will do it?
Charles Robinson:
Yes we have already had an SC audit. CyberUnit is our auditor and they have
done an amazing job. They did find some items as expected but we have already
remedied those issues.
Gold Rocket | Satoshi Club: Thanks for the answer! If you want, you can share the audit results with Satoshi Clubbers👍
Andrés M. | Satoshi Club: Great work, that will increase the user trust
Charles Robinson:
Thanks
Sure these are the heavy hitters on your site? Sounds like I need to get into that
Gold Rocket | Satoshi
Club:
Thanks again! Ready for the next question?
Q2 from Telegram User @Pratze Can u pls tell me what are the benefit and advantages by holding Jigstack token for longterm? Also how we able to use your token in your platform? Is it possible to stake and farm it?
Charles Robinson:
The STAK Token, soon to be launched will be a governance token for our
ecosystem. STAK will earn other STAK tokens as well as interest based upon user
allocations and possession of the token will directly affect a users ability to
vote on our soon-to-be announced features for the future. Users earn 80% of our
1% commission for all transactions that execute on the platform for all of our
products. Lemonade, our token launch pad is the first and we are launching STAK
on lemonade followed with STAK Bank. In parallel development I need to mention
“The Gallery” our upcoming NFT solution for Lemonade. For all these products
the community use generates revenue that is allocated back to our governance
token the STAK
We are looking at yield farming very carefully
Andrés M. | Satoshi
Club:
Thank you for this clear answer, let’s proceed with the next question if you
want🥳
Charles Robinson: For sure.
Q3 from Telegram User @garrinepotter Viral Looping Marketing is what you offer us instead of MLM. VLM concept will be presented in the ETHlink tool. Tell us about your approach to advertising and how difficult it will be to use ETHlink
Gold Rocket | Satoshi
Club:
It seems to have been in your article on Medium.
Correct me if I am wrong
Charles Robinson:
ETH link will be closely integrated to lemonade. Viral Loop Marketing is
Affiliate Martketing on steroids think if you are launching a token campaign
and immediately creating marketing links and when they’re clicked that you’re
going to be getting credit back. Youtubers are you ready to make alot of $?
Viral loop is something that feeds upon itself and grows upon itself. Also, All
Jigstack products will have the same look and feel so when you learn one you’ll
be able to easily dive into the others.
Gold Rocket | Satoshi
Club:
Your position is clear! thanks for the answer😊👍
Charles Robinson:
You’re welcome
Andrés M. | Satoshi
Club:
@crobinsonoc is there any approximated date for the launch of the website?
Charles Robinson: Jigstack.org has been launched. Our public sale is early April FYI. Get on the ship. Exact date being announced SOON.
Andrés M. | Satoshi Club: Thank you so much for the clarification
Charles Robinson: Of course.
Gold Rocket | Satoshi Club: Look forward to! and you are most likely waiting for the next question 😉
Charles Robinson:
Yes!
Lots of global energy here
Q4 from Telegram User @lzamg All the products of Jigstack are based on five commandments: they need to be trusted, secure, faster, easier and cheaper. But as we all know, Ethereum is not the faster or cheaper option right now, so how will you tackle this issue? Doesn’t this affect the Jigstack project, since it is about Ethereum assets and protocols?
Gold Rocket | Satoshi Club: We live in incredible times! 😉
Charles Robinson:
Yes we do
A4: We are very much in-tune with Ethereum gas costs and system performance. We are going to be launching on Polyton to help solve this issue for those users that want to use Polygon and still keep ETH at the center. Also, we are going to be launching and using HTS to mint our users tokens launched on Lemonade/Hedera Hashgraph. We are exploring Polka Foundy and Substrate as well as an Avalanche grant. So stay tuned watch the white paper we want our products to have the same look and feel on each platform that we launch on.
And WHAT if users on one platform could see their tokens on another platform through JigBridge? We could display a comprehensive dashboard of all Defi token placements and value. Unofficial. Just an idea guys we want your input.
Gold Rocket | Satoshi
Club:
This is an incredible idea!
Charles Robinson:
Ledgers must be able to talk with one another. Not just for those launched on
Substrate for example. And users shouldn’t have to swap. I am all for Atomic
Swaps.
Andrés M. | Satoshi Club: Great feature, would be great to see that
Charles Robinson:
Thanks we if we can envision it we can do it.
Andrés M. | Satoshi Club: So that’s is part of your current roadmap? Could you share it with us?
Charles Robinson:
White Paper will have the high level roadmap. But to answer your question;
Lemonade, STAKBank, Gallery, wallet, ETHLink, JigBridge. Santa Card Gifting
program also coming to intro new people to crypto by sending them say 25.00 of
ETH (or maybe STAK). Also we will be able to do custom logic/Smart Contract
development on Lemonade through JigLabs. And don’t forget ICORatings.com our
new Lemonade token launch “worthiness” evaluation and rating tool. 30,000
subscribers. Finally we will be activating our DAO in the future with advanced
governance and features.
Andrés M. | Satoshi Club: Wow, a big ecosystem is coming😁
When do we get to see website for lemonade?
Gold Rocket | Satoshi
Club:
And we are striding by leaps and bounds to the next question😉
Charles Robinson:
First part of April at the public sale launch
Andrés M. | Satoshi Club: Thank you, we will be waiting for the official announcement💪
Andrés M. | Satoshi Club: Yes, @crobinsonoc ready to proceed?
Charles Robinson:
Yes!
Q5 from Telegram User @konditer_rolex By purchasing the site icorating.com you got a huge database of users. Tens of thousands of subscribers in social networks, email addresses … If I’m not mistaken, you own the site for a month now. What have you changed on the site? Name, design, added some tools? Is there a decrease in traffic on the site from the moment it goes into your hands?
Charles Robinson:
We are keeping the same purpose for the site. However, we will be directly
integrating it with lemonade. All token launches will have mention in ICO Ratings.
We’re also using the valuable project launch criterion and ratings that they
used plus we’re adding additional rules of thumb to not only select the right
and best products to launch on Lemonade but also to rank all the projects along
with all the other projects in the cryptosphere. I am heading up that effort.
Continue to expect the best industry coverage as well.
Gold Rocket | Satoshi
Club:
Thank you very much for the answer!
Everything is clear to me! @AndresM77 If you have no further questions, we can move on.
Charles Robinson:
Sure, my pleasure
Andrés M. | Satoshi
Club:
So clear answer, let’s proceed with our last question of this part of the AMA
Q6 from Telegram User @ninoska0012 Jigstack’s Lemonade technical prowess and the reputation of the ICOrating platform create a powerful combination. Transforming the token launch pad industry forever is not an easy task, however this acquisition confirms the demand for transparency in this industry. As Jigstack is rolling out its DeFi protocols on multiple blockchains, will ICOrating migrate to Jigstack’s Lemonade?
Andrés M. | Satoshi Club: Partially covered I think.
Charles Robinson:
ICORatings will still be impartial as we can make it. FYI. It is a separate
platform but will be intergtated into Lemonade but still exist. The rolling out
to many ledgers will take time I know you all understand. So, Etherium is our
priority followed by Polygon and Hedera equally and building on Substrate and
AVA as well.
Gold Rocket | Satoshi
Club:
absolutely right 😃 there is still a lot
to work on
Charles Robinson:
@RobyGu did I get that right?
Roby Weir:
👍
Andrés M. | Satoshi Club: You have a great team behind the project, our best wishes to achieve your targets for this year💪
Charles Robinson:
Thanks! @AndresM77
Part 2 — live questions from the Telegram community
Q1 from Telegram user @konditer_rolex You claim that Lemonade is the cheapest token launch platform on the market. Tell us why you got such an edge over the competition. Are you just dumping prices in the market with good financial support, or was it made possible by technical solutions?
Charles Robinson: Great question! We do allocate 1% of the tokens launched to JigStack but other than that and the Ethereum cost to run our smart contracts we are free. We want to obtain users for the long-haul. And so inviting them to launch their token on lemonade gets them in the door and then we have many other offerings that we can start to make more money to give back to our token holders.
Q2 from Telegram user @Garrinepotter All actions performed on the platform will bring profit to JStack holders. What exactly will users have to pay and what amounts. And what percentage of the platform’s income will go to the holders as dividends?
Charles Robinson: You get 80% of the total commissions raised we take 20% to buy back our tokens.
Q3 from Telegram user @Derazy You mentioned on your website about the growing of this platform since 2016. Can you introduce to us about Jigstack’s excellent team? Do they have experiences and talents? Or where we can find information about Jigstack’s team?
Roby Weir: Sure our team was selected with a balance of experience as well as the ability to work in a fast pace environment. We have got a good mix of team members who bring traditional practices to an industry that is so disruptive and ever-changing. Our experienced team members in the crypto space can adapt these efforts to while still keeping the core principles. We are here to execute not just talk about the future. You will notice if you follow us long enough I am all about execution and doing it securely with the highest UX in mind.
Q4 from Telegram user @Ciluk_B How Can I participate in your public sales and do you have any terms and conditions for it?
Charles Robinson: Hi DM our admin for info on our whitelist.
Q5 from Telegram user @jangrihwa Does Jigstack have a specific meaning or language because I think the project name is quite unique and what is the source of the project’s inspiration?
Charles Robinson: Think of a jigsaw puzzle all in pieces you can take each piece and get a partial picture but when you put all the pieces together do you have a big picture of decentralized finance. You can stack all the pieces of our ecosystem on top of each other and other products for protocol stacking.
Q6 from Telegram user @Indomiekuy Could you explain to me what is the concept system of Jicstack Lemonade that your project has? And why do u think program like Lemonade is important in the DEFI and cryptoworld?
Charles Robinson: Lemonade stand allowed young children to be able to have their first business. There are many token holders that are not savvy to cryptocurrency therefore we are targeting them to help them launch their businesses on the ledger.
Q7 from Telegram user @BeaEvolet Jigstack aims to become Microsoft DeFi, this is aiming high and words need to be proven with facts, so far what great goals have they achieved? And I understand that they want to reach all users, even those who don’t even have knowledge about cryptocurrencies, how do they plan to attract these users and convince them that a decentralized world is what they really need?
Roby Weir: By not overcomplicating our products and making sure the UX/UI is inviting to non-crypto savvy users. This along with our santa gisting solution will bring in a lot more next-gen users who have either been on the fence or confused by what Defi/Crypto is offering going forward to make day-to-day life easier. Just like how Microsoft has done to so many households.
Q8 from Telegram user @MagdaCV Lemonade allows even a child to launch their own token, is it really that easy? Being that easy is it safe? I think developing or executing something good will always take time.
Charles Robinson: It will be easy for our users but it has been hard for our developers Because they have had to develop more bullet-proof smart contracts. Also, we are very much on the lookout for scam projects to not allow them.
Q9 from Telegram user @Sumione Many projects take partnership as an achievement, do you have any achievements made?
Roby Weir: Partnership is an achievement if they’re more than just a hype wheel to get excitement. All our partners with be carefully chosen with high synergy between our products.
Q10 from Telegram user @apocan99 What are the distinguishing features of Lemonade compared to other launchpad services?
Charles Robinson: Thank you. Quick to market for them. Custom code if needed. Integrated into ICO Ratings. Intuitive UI. Free. Other than the gas costs and also giving us 1% of the token allocation for using our service.
