Hello, Satoshi clubbers Another AMA took place at Satoshi Club and we would like to introduce to you the AMA session with our friends from Tadpole Finance. The AMA took place on 18 November.<\/p>\n\n\n\n
The AMA session was divided into 3 parts with a total crypto reward pool of 800$ in DOGE.<\/p>\n\n\n\n
In this AMA Recap we will try to summarise the most interesting points for you.<\/p>\n\n\n\n
Mary | Satoshi Clubadmin<\/strong> D. | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> D. | Satoshi Clubadmin<\/strong> William<\/strong> D. | Satoshi Clubadmin<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> D. | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> D. | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Club<\/strong> D. | Satoshi Clubadmin<\/strong> Q2 from Telegram user @peerpeer<\/em><\/p>\n\n\n\n William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> D. | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> D. | Satoshi Clubadmin<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> William<\/strong> D. | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> D. | Satoshi Clubadmin<\/strong> William<\/strong> D. | Satoshi Clubadmin<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> D. | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> D. | Satoshi Clubadmin<\/strong> William<\/strong> Mary | Satoshi Clubadmin<\/strong> William<\/strong> Q1 from Telegram user @ShaLiPon<\/em><\/p>\n\n\n\n Why I don’t see you in Tadpole Finance group, any reason behind in not joining the telegram group?<\/strong><\/p>\n\n\n\n William:<\/strong><\/p>\n\n\n\n Q2 from Telegram user @KhaleesiTheCryptoLady<\/em><\/p>\n\n\n\n William:<\/strong><\/p>\n\n\n\n Q3 from Telegram user @furkannv<\/em><\/p>\n\n\n\n William:<\/strong><\/p>\n\n\n\n
Hello, Satoshi Club! We are happy to announce our AMA session with Tadpole Finance! @ngkong @drintari @oscardarmawan welcome to Satoshi Club:grinning:<\/p>\n\n\n\n
hello everyone!
@ngkong @drintari @oscardarmawan hello and welcome! :smiley:<\/p>\n\n\n\n
Hello everyone!
Thank you for inviting us<\/p>\n\n\n\n
Hello, William :grinning: welcome here
How are you today?:grinning:<\/p>\n\n\n\n
I’m great, thank you for asking \ud83d\ude00
especially with all crypto bullish today
i’m sure everyone is doing great here<\/p>\n\n\n\n
Yes, what a day to be alive :joy:
Could you please introduce yourself and Tadpole Finance, of course :+1:<\/p>\n\n\n\n
surely
my name is William Sutanto, co-founder and CTO of Indodax. The first and the largest crypto exchange in Indonesia. Established in 2014
I found an interesting area in Lending DeFi platform that can be improved. So we are trying to build Tadpole Finance
Tadpole Finance basically is a lending DeFi platform running on Ethereum network<\/p>\n\n\n\n
Is Tadpole platform operational now or it’s still in the development?<\/p>\n\n\n\n
Currently it is still in development. If you open our website https:\/\/tadpole.finance, saving and lending logic is working but on Goerli Testnet
Tadpole Finance
Decentralized Finance Platform for Saving and Lending Crypto<\/p>\n\n\n\n
Yes, i saw:grinning: but i thought may be some functions already working and i missed that
How is testing going?<\/p>\n\n\n\n
We just launched this project last month, we need to do a lot of tests and formal audit before launch it into the mainnet
some functions are working like genesis (closed) and DEX mining but the main function itself (saving and lending), is not ready in the mainnet<\/p>\n\n\n\n
Oh, that’s great, hope everything will be ready for launch soon:grinning:<\/p>\n\n\n\n
and when mainnet will be launch?<\/p>\n\n\n\n
so far so good, we still need to add more unfinished functionality, but the basic functions are working perfectly
our target is by December 2020 and as late as early next year (Q1)<\/p>\n\n\n\n
great! very soon<\/p>\n\n\n\n
Waiting for this exciting announcement \ud83d\ude00<\/p>\n\n\n\n
we try to move fast<\/p>\n\n\n\n
Thank you for impressive intro:+1: Are you ready for the questions from our community?)<\/p>\n\n\n\n
sure \ud83d\ude42
happy to answer all the questions<\/p>\n\n\n\n
let’s go then! :smiley:<\/p>\n\n\n\n
Q1 from Telegram user @olaf_gudjonson<\/em><\/p>\n\n\n\n
Tadpole Finance is an experimental project to create a more open lending markets, where users can make deposits and loans with any ERC20 tokens on the Ethereum network. Sorry for paying attention so much to semantics, but don’t you think that saying that your project is experimental, in an ecosystem which is under attack of hackers, where there is uncertainty and DeFi projects are constantly hacked, is not so assuring for your users?<\/strong><\/p>\n\n\n\n
We try to as open as possible to our community and all the supporters. Blockchain itself is still in experimental phase, moreover DeFi which is running under blockchain network. We want all users to know the risk that is bound to the DeFi ecosystem<\/p>\n\n\n\n
Do you envisage something like an insurance fund in case something goes wrong?<\/p>\n\n\n\n
I understand many people trying to convince that blockchain and DeFi is the future, it is true, but please also pay attention to the risks associate with it
in the lending platform, there is a small percentage of the interest profit that will be accumulated in the platform. That can be a sort of an insurance for the system when it goes south
That’s also the reason we don’t rush launching this project in the mainnet. Many measurements need to be done because this platform will handle real money<\/p>\n\n\n\n
It’s great that you created it. And, yes, it should be checked hundreds of times, i see that you have clear understanding of security importance :grinning:<\/p>\n\n\n\n
of course, i’m also running an exchange. security is basically our 1st priority<\/p>\n\n\n\n
Can i ask you if you had any accidents with security on your exchange?<\/p>\n\n\n\n
because of recent DeFi hype, many people rushing on launching the project in mainnet, we don’t want to do that<\/p>\n\n\n\n
Yes, that’s right and it’s wise decision :grinning:<\/p>\n\n\n\n
yes, it’s greed. people trying to earn fast money, most of them don’t think about security of their product<\/p>\n\n\n\n
Small accidents happen, hackers are very persistent on doing phishing attempts for example<\/p>\n\n\n\n
Oh, i am very familiar with phishing :joy: actually, had such accident personally, but it was a perfect lesson
Thank you for clarifications and are you ready for the next question?)<\/p>\n\n\n\n
yes, basic security knowledge is very important for crypto traders\/investors. always enable 2fa, dont use same password twice, and dont install unverified software
be careful clicking any links in your inbox<\/p>\n\n\n\n
Thank you for clarifications and are you ready for the next question?)
Sure<\/p>\n\n\n\n
double-check everything :+1:<\/p>\n\n\n\n
To lend USDT is 3.71% at the moment. Why should I lend at tadpole if on Binance I have 5.31% for 7 days period lending? Why on some pairs there is zero percentage? or there is no supply yet?<\/strong><\/p>\n\n\n\n
This is still in the testnet. In reality when it launches in the mainnet, usually interest will be adjusted with global markets, averaged between all DeFi platform (trust on the platform also calculated).<\/p>\n\n\n\n
So, everything is a subject of changes?<\/p>\n\n\n\n
the reason for 0 percentage is same, because it is still in testnet. no one test for lending on that platform, that’s why the interest is 0. the interest is calculated by measuring lending (demand) vs saving (supply). when demand is 0, interest will be 0 as well
the interest is calculated algorithmically. it adjusts itself according to demand and supplyso it is the nature that the interest will change overtime<\/p>\n\n\n\n
got it, thank you:grinning:
We should wait till the launch date and then we will be able to compare with other platforms :grinning:<\/p>\n\n\n\n
for the interest percentage, yes<\/p>\n\n\n\n
:ok:, ready to go forward to the next question?<\/p>\n\n\n\n
sure \ud83d\ude42<\/p>\n\n\n\n
Q3 from Telegram Username @KhaleesiTheCryptoLady<\/em><\/p>\n\n\n\n
Tadpole Finance ultimate goal is to create an open ecosystem in which users can freely add any ERC20 tokens to be listed in the DeFi lending system, what are the procedures or any requirement for adding ERC20 tokens in this system? Does this includes all DeFi Tokens even the Rug pulled tokens?<\/strong><\/p>\n\n\n\n
Yes, it includes everything. Just like Uniswap can be used to trade all tokens. The difference is, not all tokens will have collateral value. This is our feature to protect the ecosystem from failing.
To add ERC20, is as simple as calling a function in the smart contract. With all the erc20 details in the request<\/p>\n\n\n\n
Nice feature, who will determine the collateral value on Tadpole platform – human or smartcontract or\u2026?<\/p>\n\n\n\n
this is the feature that we are developing as well. collateral value will be set algorithmically by measuring some variables like uniswap liquidity, price volatility, etc
algorithmically I meant by smartcontract<\/p>\n\n\n\n
Did you create your own algorithm or you modificate some well known algorithms?<\/p>\n\n\n\n
we create our own algorithm<\/p>\n\n\n\n
got it, thank you. BTW how many developers working at your project?<\/p>\n\n\n\n
currently whole Indodax & Tokenomy (my other company) teams are helping. But in the near future we also will launch a developer reward program which will incentify any development in the platform by opensource community (basically all developers in the world who want to join)<\/p>\n\n\n\n
Thank you:grinning:
I think developers will be definitely interested in your program:grinning:<\/p>\n\n\n\n
awesome! great perspectives for potential devs :+1:<\/p>\n\n\n\n
Next question?)<\/p>\n\n\n\n
sure \ud83d\ude00<\/p>\n\n\n\n
Q4 from Telegram Username @yzmoney<\/em><\/p>\n\n\n\n
The distribution of the TAD token is as follow:
Genesis Mining: 200,000 (20%) (30 days period)
Platform Liquidity Mining: 500,000 (50%) (2 year period)
DEX Liquidity Mining: 200,000 (20%) (1 year period)
Developer Rewards: 100,000 (10%) (1 year period)
What will happend after the 2 year period ? how will you continue to retain user to provide liquidity or borrow \/ lending ?<\/strong><\/p>\n\n\n\n
we expect after 2 year, the platform will be mature enough that no incentive will be needed to retain users<\/p>\n\n\n\n
so all tokens will be in circulation after 2 years?<\/p>\n\n\n\n
after all functionalities are ready, the platform will be handed over to the community with governance voting mechanism. it’s up to the community as well where this project will be headed
yes<\/p>\n\n\n\n
Can we jump to the next question?<\/p>\n\n\n\n
yes please \ud83d\ude42<\/p>\n\n\n\n
Q5 from Telegram Username @AmirJosh<\/em><\/p>\n\n\n\n
Are you gonna implement a credit rating system for the customers of Tadpole\u2019s Saving\/Lending program? If yes, Is this gonna affect the borrowers lenght of payment and how much they can borrow?<\/strong><\/p>\n\n\n\n
we don’t have credit rating system yet in our plan, but that’s a very good idea!<\/p>\n\n\n\n
You see, Satoshi Club’s members are very creative :+1:
May be you will use it in the future:grinning:<\/p>\n\n\n\n
i must admit the depth of this group questions are very advanced<\/p>\n\n\n\n
they are studied your project well \ud83d\ude42<\/p>\n\n\n\n
usually questions are around pricing and tokenomics, when gecko & exchanges, this group is very different \ud83d\ude42
very happy to join this community<\/p>\n\n\n\n
yes, and we have these kinda questions as well \ud83d\ude00<\/p>\n\n\n\n
Thank you:grinning: and now, as you don’t have any ratings – everyone will be equal for borrowing?<\/p>\n\n\n\n
yes, borrowing power is based on the collateral that is locked in the platform<\/p>\n\n\n\n
It’s clear:+1: thank you and we have 6th question, the last in this part of our AMA. Ready for it?<\/p>\n\n\n\n
yessss \ud83d\ude00<\/p>\n\n\n\n
let’s go!<\/p>\n\n\n\n
Q6 from Telegram Username @PaoloMonte87<\/em><\/p>\n\n\n\n
In one previous interview, Mr. Sutanto \u2013 TadPole\u2019s co-founder and CTO of Indodax \u2013 explicitly defined Tadpole Finance as an experiment project an attempt to improve the actual lending & borrowing DeFi landscape. He defined the current DeFi ecosystem as \u201cclosed and exclusive, in plain contrast with the blockchain\u2019s spirit\u201d. I personally don\u2019t feel that way, but I am open to be persuaded. Could you please express the reasons behind this view with regards to the actual DeFi platforms we have access to? What and how does Tadpole Finance manage to improve?<\/strong><\/p>\n\n\n\n
wow that is a long question \ud83d\ude00<\/p>\n\n\n\n
Yes:joy:<\/p>\n\n\n\n
yeah, last but not least \ud83d\ude00<\/p>\n\n\n\n
We see all the big lending platform out there. to list a token, it requires so much voting power that it is impossible for small to medium projects to be listed in DeFi lending platform. I believe voting power itself is very great mechanism for the blockchain industry to decentralize the finance industry, but some functionalities are supposed to be decided automatically by the smartcontract instead of depending on the voting process. For example Uniswap will notbe known as big as like today if all listing in the DEX requires voting mechanism. We want to bring this idea to saving\/lending market
Tadpole Finance itself will have voting mechanism as well, but for more essential decisions like interest calculation algorithm, collateral algorithm, etc<\/p>\n\n\n\n
It’s really actually what you offer. Do you have any competitors on the DeFi market in this field?<\/p>\n\n\n\n
many lending platforms out there: Compound Finance, AAVE, maker, etc<\/p>\n\n\n\nPart 2 \u2014 live questions from the Telegram community<\/h2>\n\n\n\n
we will open chat for 120 seconds in second part and our guest will select best 10 questions from Satoshi club community<\/p>\n\n\n\n
What will be the major benefits of Indodax Exchange in building Tadpole Finance? Do you have any plans to link Tadpole Finance lending system in Indodax platform? Can you Share to us what are the major plans ahead between Indodax Exchange and Tadpole Finance? <\/strong><\/p>\n\n\n\n
The biggest issues as of now in crypto is volatility and liquidity issues. What steps have been taken by your companie to overcome it?<\/strong><\/p>\n\n\n\n
\nAside from Developer Rewards program, what other program are being cooked and prepare by Tadpole Finance to feed to the community? Do you have plan to add another menu for the members and the community of Tadpole Finance for them to stick with you for a long period of time? Thank you<\/li><\/ol>\n\n\n\n