zan
AMA, AMA recap
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September 28, 2020
48

ZAN.FINANCE x CryptoNationIN AMA RECAP

Dear Community,
Thanks all for participating in our Zan.Finance AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this blog post is for you.

Introduction!

Mayank – Hello @Ianatwood welcome to CryptoNationIN 🥳 Before we start I request you to tell about yourself and about Zan Finance project.

Ian – Thanks for having me here.
I’m Ian Atwood the COO and Co-Founder of ZAN Finance, I am a software developer with a focus on designing enterprise-grade blockchain solutions.
Am skilled in Hyperledger Fabric, Ethereum and Solidity and full stack web development.
Strong research professional with a PhD in computational Science and Engineering.

Mayank – Could you please tell the community about the Zan Finance.

Ian – ZAN (ZAN Finance) is an inspired governance token that is rewarded to cryptocurrency yield farmers (also known as liquidity miners). ZAN functions as a DeFi Yield aggregator – they will release a “Vault” like product which will deploy different strategies to farm DeFi yields. $ZAN in the governance coin on the platform which will be used to vote on Decentralized Autonomous Organisation (DAO) decisions. ZAN sets itself apart by also minting three in-elastic supply coins, $WAN,$PIE and $ZIN – coins that will rebase to target the price of USD and Ethereum respectively. These tokens will function similar to “Ampleforth” in terms of rebasing functionality. ZAN Finance ecosystem is focused on providing liquidity, exchange, payment, and asset tokenization services. It also operate a permissionless and open-source protocol so any other internet participant can be a part of the development of the network, instead of just using it or locking up funds in smart contracts for staking rewards. Financial inclusion is among the team’s primary goals. And the objective is to be able to achieve it without compromising the safety and security of each user and their assets. Since ZAN is established on the Ethereum blockchain, we take advantage of smart contracts that can be used to run Ethereum Virtual Machines (EVM). Such a set-up also allows the ZAN project to have better composability than other DeFi projects. ZAN Finance is a platform that allows anyone to provide liquidity. In return, the person gets rewarded with token(s) and ZAN in-elastic rare reward tokens.

Twitter Questions

Q1. What’s your vision ultimately? What is ZAN Finance trying to achieve in the longer term and how do you plan to get there? How will your ultimate vision and mission make a difference in the world?

Ian – Our vision ultimately is to do the following:-

  1. ZAN’s Lending Services
    The emerging trend of DeFi projects facilitating peer-to-peer lending services enticed the team behind ZAN to work on a protocol that can do something similar. Available assets that users can borrow from the ZAN ecosystem include $ZAN, $ZIN, $ETH, $WAN, $PIE and $USDT.
  1. ZAN Token and Liquidity Pools
    The ZAN token, i.e. the ZAN platform’s native asset will be available on Uniswap and Balancer initially for the public on 5th October 2020.

ZAN will be launched in 28th September 2020 and the platform will have total of roughly 33% of all its total asset in total value locked (TVL) and will be locked in the Pool Vault First on UniSwap and later will be moved to ZanSwap when its complete.

Since there is a growing number of crypto users participating in liquidity mining or yield farming, the team behind ZAN also launched their own liquidity farming program. The team publishes vital statistics on their Medium on any changes or updates to their reward systems and pools. Thus giving users the information they need to decide what token they will want to make.

Finally, ZAN Swap is an automated market maker (AMM) launched on 20th of October 2020. This allows users to switch their collateral positions without leaving it. It is meant to be an improvement on the current yield farming model whereby farmers need to utilise token swapping platforms such as Uniswap to convert their cryptocurrencies. This is detrimental to yield farmers because gas fees (which have been skyrocketing due to the number of farmers out there) are incurred, along with trading fees (0.3% in the case of Uniswap).

Enter ZAN Swap,ZAN farmers who create and deposit assets into liquidity pools on ZAN Swap’s platform receives ZAN Pool Tokens (ZPT). ZAN Swap also has lower fees than Uniswap at 0.25%, of which 0.20% is rewarded to liquidity providers and the remaining 0.05% goes to the ZAN network.

To encourage users to provide liquidity, ZAN will be distributing 100 ZAN tokens daily for the ZAN pairs and 50 ZAN for the other pools. To be eligible for this, users will be required to stake their ZAN tokens for at least 3 days and this process will last for 14days.

The launch of ZAN swap will help ZAN prices and the community at large.

Q2. ZAN claims to be community orientated, and owned by the community can you explain the roles of the community in ZAN what do they stand to gain, and what are the requirements for community members to partake in decision making process of this project

Ian – ZAN Finance is a platform that allows anyone to provide liquidity. In return, the person gets rewarded with token(s) and ZAN tokens. Possibility of very high APY (up to 240%) on some liquidity pools very comfortably. ZAN Finance tokens are given as rewards for liquidity mining. The token allows its holders to participate in the governance of the platform and entitles them to a portion of the fees paid to the protocol by traders. For the governance of the platform, ZAN holders can submit a ZANSwap Improvement Proposal (ZIP) which token holders can vote on with their tokens.

Of course, some people can also speculate on the prices of ZAN and the token can be traded on major exchanges soon. As per Requiremwnts to pertake in decision making all you need is to be an Holder of ZAN. ZAN will be used to vote for major decisions in the Eco-System.

Q3. In Zan Finance we find 4 farming pools, in fact, to get some tokens you even have to stake 2 tokens in the case to get $ZIN. What are the advantages of this multi-farming pool system?

Ian – It’s seems you all get to do your research well about ZAN Finance. This is a very common question I have been asked before, the answer is simple. You dont need to Stake two(2) tokens in the ecosystem to start yielding from the farm pool, Staking Only Zan Itself will earn Users WAN and PIE but not ZIN. ZIN is the rarest of all token in the ZAN Eco-System. In order for Community Members to get ZIN, Users will ahve to stake Both WAN and PIE to get ZIN. Multi-Farming Pool gives the Eco-system and community access farm a large and diverse variety of tokens from the pool and also access to farm rare and even more valuable tokens.

Q4. Can you briefly explain how the Top milestones that the ZanFinance team aims to execute before the end of this year or going to execute in future, will help them succeed and What ZanFinance may look like in 2020 and beyond.

Ian –

Our present road map isn’t elaborate enough to show all features. All of this you will be seeing in our website v2.01. Looking at this, ZAN Swap is an automated market maker (AMM) launched on 20th October 2020. ZAN Token and Liquidity Pools 5th October 2020.

Q5. What are the advantages of Zan Finance as a Yield Farming platform among the other options avaliable? Yield farming has been gaining popularity lately, what are yourc thoughts of it?

Ian – The Advantages of ZAN Finance are endless…. But I will like to mention a few here. There is no KYC (Know Your Customer) policy. This means anyone can trade and contribute to the liquidity pools. The platform is permissionless, meaning anyone can contribute millions of dollars without asking for permission. Earn tokens from ZAN Swap. ZAN is ZAN Swap’s native token. When you contribute to the liquidity pool, you earn ZAN tokens. You can exchange ZAN for ETH directly at any point in time in the Eco-System. Earn ZAN Eco-system tokens $WAN and $PIE by staking ZAN. Earn ZIN by Staking both $WAN and $PIE. ZAN Swap model: 0.25% go directly to the active liquidity providers and 0.05% get converted back to ZAN and is rewarded to ZAN holders.

Telegram Questions

Q6. Zan Finance presale is coming tomorrow, how can we participate in your Presale? What are the requirements and minimum amount to buy?

Ian – All information about parcipation in our up coming ZAN pre-sale are on all our announcement channel including our Group community, twitter and channels. You can join and follow to know how to join and partake. The minimum buy is 0.5ETH. The maximum buy allocated per wallet address is capped at 10ETH. All our information sources and pages will be in the link below immediately after this presentation.

Q7. The pre-sale of ZAN token starts in a few hours. What are your expectations regarding this pre-sale?

Ian – We expect more users joining the ZAN Ecosystem. We expect a flawless transaction between and among all participant. We expect Our hard cap of 3000 ETH to be met.

Q8. 2020 is the year of staking. What staking options are available for $ZAN token? What assets can I farm by staking $ZAN token?

Ian –

When you farm $ZAN, you will harvest $WAN and $PIE in due time. You have to farm $WAN and $PIE to get our Rarest Token $ZIN.

Q9. Hello sir ✅ Increasing Token price, ✅ make Token Valuable, ✅ Building Community Trust
From 3 aspects above,. I want to ask,. Which one the most important for you??If all above are important for you,. Which one that Will you do first??

Ian – All are important aspect. The very most aspect for our community will be Building Community Trust. That’s the very key to succeeding in our community based Yielding platform. All our community members have key roles to play in the ecosystem. Each user have a place and voice. With the possession of ZAN. Users can “VOTE” for major decision making the the ZAN ecosystem. Making the Token Valuable will come next for me. Then finally increasing Token price. All can occur Simultaneously, but to answer the question this will be the exact order.

Q10. What will be your burn or buyback plan to preserve the value of ZAN tokens?

Ian – We have such little inelastic supply of 45,000 ZAN. We haven’t thought of a decision to burn ZAN. but our Buy Back will be the very second voting the ZAN community will have. Where users will vote when we will buy-back, and with how many percent of our then liquidity. If the community decides for a Burn, then we will have to vote again for that. It’s a community based project. Be rest assured. Your interest are the very foremost.

Thank you to Ian Atwood, and Community for participating in the AMA. Have a nice day 

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AMA, AMA recap
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September 24, 2020
46

CRYPTONATIONIN X Neo/Flamingo.Finance AMA RECAP

Dear Community,
Thanks all for participating in our Neo/Flamingo.Finance AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this blog post is for you.

Introduction!

Mayank – Hello John welcome to CryptoNationIN 🥳 Glad to have you with CryptoNationIN 🎊

John – Hi Everyone. Thank you so much!\

Mayank – Before we start, I request you to tell about yourself.

John – I’m the head of NEO Ecosystem Growth, have quite a few years of experience in supply chain management consulting, and several times successful entrepreneurial experiences, I’m currently responsible for NEO ecosystem development.
I’m really curious what your community thinks about defi?

Mayank – Our community is enthusiastic to learn about DeFi projects. Could you please tell our community about Flamingo Finance.

John – Flamingo is an interoperable, full-stack decentralized finance protocol built on the Neo blockchain. Flamingo is comprised of five main components, including Wrapper – a crosschain asset gateway, Swap – an on-chain liquidity provider, Vault – a one-stop asset manager, Perp – an AMM-based perpetual contract trading platform, and also DAO – a decentralized governance mechanism. FLM is the governance token of Flamingo and will be 100% distributed to the community based on participation.

Mayank – How you got the idea of launching Flamingo? What is the necessity to launch it?

John – So Neo blockchain is one of the earlier projects, we have a very strong technology, a fast consensus algorithm and more. These tech prerequisites are needed to launch a defi project like Flamingo.Finance. We believe in DeFi and it’s progress has been amazing so far. Dex are already eating the market share away from centralized exchanges! Some DeFi protocols out there are popular already, but the are still opportunities to solve problems in the market. Flamingo.Finance is a full-stack DeFi platform, offering all the services all in once place. And importantly, it allows users of other defi products to earn from contributing to the Neo platform too. I’ll tell about this in more detail later, hopefully someone will ask 🙂

Mayank – Amazing 🎉

Twitter Questions

Q1. The commissions in the NEO network are 0, as Flamingo is in this network will also have 0 fees? Or will you have to pay any fees for the use of the platform?

John – There were some good questions there. Thanks for doing your research. That’s true, that’s one of the issue that Neo Blockchain solves here, that’s the exuberant Ethereum fees. Most transactions, like claiming FLM reward, and sending it doesn’t cost any gas on Neo! Or you can add a little bit to speedify the process. It was a big problem in farming yield on other protocols if you know…

Q2. I read that Flamincome offers yield farming opportunities for users. What asset class can I stake to farm $FLM and why is it built on Ethereum network? What benefits/incentives are available for users of the platform?

John –

Here on this image you can see the assets. Neo will bring the most rewards! Half of 50 mln FLM. But also you can stake wBTC, USDT, and more

Q3. Despite the recent DEFI hype, current adoption & user engagement in DeFi is only 1% of crypto users. How do you plan to raise your overall DeFi adoption rate to 10%?What strategies do you have to attract users & keep them with #Flamingo for the long term?

John – I think many crypto users are in it because they like to trade, some use it for online payments, but I’m sure many are in it because they are interested in the future of finance! And DeFi is definitely the future of finance, so I recommend everyone to try it, to change assets on our exchange Flamingo Swap and to provide liquidity to it too. We plan to raise the adoption rate by creating great product and actually reward early adopters with FLM token (governance token).

Q4. What plans does FLAMINGOFINANCE have in partnering with major lending protocols such as Maker Dao or dYdX Debt Debt Collateralized Debt Positions (CDP) to try to expand the liquidation protection feature of a user’s position?

John – I see that the person who asked this question is familiar with the recent developments in the industry. These are great products. But Actually what we are kind of partnering are Uniswap and Yearn. But as you know these defi projects are protocols so you don’t really have to partner with them, you can directly use them. So for Uniswap, the great innovative feature of Flamincome https://docs.flamingo.finance/faq#flamincome is this.
You can take your Liquidity Provider tokens from Uniswap and store it on Flamingo.Finance and continue earning UNI rewards from Uniswap, but also the FLM token from Neo!
For Yearn, the part of Flamincome is the yield optimizer, which finds the best strategies for your assets (=most profitable ones).

Q5. Is there any swap platform like uniswap on Neo? & if no then is neo building one in order facilitate trading?

John – Yes, we just gave it a simple name of Swap https://docs.flamingo.finance/litepaper#swap. Swap is Flamingo’s on-chain Auto Market Maker (AMM), providing liquidity to wrapped assets (as listed above), FLM, and other NEP-5 based tokens. It uses the cool formula called (Constant Product Market Maker (CPMM)) to determine pair prices. It uses the cool formula called (Constant Product Market Maker (CPMM)) to determine pair prices compared to centralized exchanges which use order books. Check our Swap when it’s out On September 30.

Telegram Questions

Q6. I’m a yield farmer that loves to farm several asset class. Why should I use Flamincome? How does it boost my yields?

John – Flamingo boosts your yields first working as an aggregator, choosing best strategies and they rewarding you with FLM token. And we really strived to improve capital efficiency so these FLMs can be used to issue FUSD – the stable coin and even use our new derivatives exchange PERP. At every step you are rewarded!

Q7. Can you tell us the motivation and benefits of FLM to all investors?

John – So first of all, there’s no premine, no presale, so really the only way to get this token is by “yield farming” which starts on September 25th. 50 mln FLM will be issued during the Mint Rush period of 5 days after this start date. FLM itself is a governance token, allowing you to vote for important decisions of the Flamingo protocol in the future, some as revenue distribution and more. And of course it will be listed on major exchanges, big news coming soon!

Q8. How many days do we need to lock our #NEO during our mint rush period to get $FLM ??? Can we unstake them anytime we want ??? Thanks.

John – Good question. Basically you can unlock Neo at any moment, and claim your FLM. But FLM will be claimable only after the end of Mint Rush period.

Q9. I am an investor, can you share the advantages and great features of FlamingoFinance over other competitors enough to make me decide to invest in FlamingoFinance?

John – Basically this is a riskless way to earn more than on other platforms, if you stake LP tokens from Uniswap specifically wBTC/ETH LP token (it means you stakes wbtc and eth there) you’ll earn

  1. revenue from trading volume on Uniswap (every transaction is 0.3% for assets that you staked)
  2. UNI token (the very famous one recently)
  3. Flamingo’s own governance token FLM that will be listed on all major exchanges.

Q10. I see that there are some Liquidity Providers (LPs) on Uniswap and Balancer were attacked by hackers, so how will Flamingo prevent this for specific liquidity pools?

John – I haven’t about these cases but our own smart contract is audited by Peckshield – the experts in smart contract security.

https://twitter.com/FlamingoFinance/status/1306140183666982912
So guys please join our group : https://t.me/NEO_EN.
And if you prefer discord, it’s here: https://discord.com/channels/748375438467793036/748375438467793039.

Thank you to John Wang, and Community for participating in the AMA. Have a nice day 

🙂
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AMA, AMA recap
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September 18, 2020
58

CRYPTONATIONIN X Blockstack AMA RECAP

Dear Community,
Thanks all for participating in our Blockstack AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this blog post is for you.

Introduction!

Mayank – Hello @xanditkoff @rohanshr welcome to CryptoNationIN 🥳

Rohan – Namaste 🙏

Xan – Hey everyone! Thanks for having me and Rohan. Excited to be here!

Mayank – Before we begin the first session, can you tell us a little about your background and what role did you take on the Blockstack?

Xan – My name is Xan. I’ve been the Growth & Production Partner on the Blockstack PBC core team since mid 2017. For the first two years my focus was on the growing the independent ecosystem of projects built on top of Blockstack. We started with none back in 2017, and ended 2019 with over 400. For the past year, I helped Blockstack expand into different markets in Asia. Currently I’m doubling down on that focus on Asian markets by founding a new, indepedent company, called Daemon Technologies (地灵科技). Daemon will be headquartered in Hong Kong, receive some seed funding from Blockstack PBC, and will focus on adoption of Blockstack technology in Asia.

Rohan – Hi, My name is Rohan, I’ve been helping out with Community management for over an year now. I am also helping Blockstack expand into the local community, and all of you are more than welcome to join the Indian Blockstack community at @blockstackindia. Also dropping the link here for Daemon Technologies https://daemontechnologies.co/ so if you’re interested to STX Mining and Stacking to earn BTC. Don’t forget to subscribe!

Mayank – Great 👏🏻 Could you please tell the community about Blockstack.

Xan – Blockstack (STX) is building Web 3 anchored to Bitcoin. We believe that Web 3 will emerge around the Bitcoin ecosystem vs on some separate smaller network. The Stacks blockchain interconnects with Bitcoin and adds the necessary features like smart contracts and internet assets registration.

Here’s an article from Forbes about Blockstack and how it anchors on Bitcoin: https://www.forbes.com/sites/jasonbrett/2020/06/09/will-wall-street-analysts-buy-the-blockchain-business-model/#16e73fa75b0c.

Rohan – Just to add to what Xan said, here is a good interview/video about Blockstack PBC history and how we inspired Season 5 of the famous HBO Silicon Valley show where they were building a decentralized internet: https://fortune.com/2018/06/08/blockchain-silicon-valley-new-internet-blockstack/.

Mayank – What is the name of the token from Blockstack? how much supply is available? can you tell us where the token will be allocated? And is the Blockstack token ready to trade?

Xan – Stacks (STX) is the cryptocurrency that powers the user-owned internet. Current circulating supply is approx 800M STX. Total supply, 2B by year, 2050. See explorer: explorer.blockstack.org.

Rohan –

Xan – STX is available on international exchanges like Binance and Kucoin (currently not available in the US). We did the first-ever SEC qualified offering in the US (which was a historic industry event) and given US regulations, the US trading markets are currently not available.

Rohan – Here is a good Wall St Journal article on Blockstack (STX) historic SEC qualified offering: https://www.wsj.com/articles/sec-clears-blockstack-to-hold-first-regulated-token-offering-11562794848.

Mayank – What is the purpose of STX token?

Xan – The fundamental use case of the Stacks token (STX) on the chain is to facilitate fees for the registration of digital assets like user or domain names. STX tokens used to register new digital assets are “consumed” or burned in the process. After the launch of our mainnet, the network allow users and developers to use STX as “fuel” for Clarity smart contracts and to pay to miners for hosting Blockstack nodes and securing the network. STX Holders will also be able to earn Bitcoin for locking up their holdings. We call this stacking – more later.

Rohan – Here’s a quick link for more info https://stackstoken.com/

Mayank – How does Proof of Transfer (PoX) Blockstack Consensus Mechanism work?

Xan – Proof of Transfer is a consensus mechanism that leverages the security of existing PoW chains like Bitcoin, and allows a new network to anchor to an existing PoW network. In the case of Blockstack, this gives the Stacks network similar security properties to Bitcoin from Day 1, while still allowing Blockstack PBC to offer developer tools like Smart Contracts, without modifying BTC’s protocol.

There are two types of participation in PoX: STX Mining and Stacking. Just like with a Proof of Work network, Proof of Transfer requires spending something valuable in order to mint a new asset. Bitcoin requires miners to spend electricity in order to create BTC. The Stacks Chain and PoX require miners to spend BTC in order to create STX. You only need to go from electricity to digital value once.

There is a staking like component to Proof of Transfer called Stacking. Stacking is when STX Token holder lock up their tokens, and every cycle (every 7 days) broadcast a BTC address and support for a Stacks chain tip to the network. In exchange for this service, they are sent the BTC that is spent by miners. While this sounds similar to staking, it is not actually necessary for the network to run properly. With PoX, miners are still the ones responsible for securing the chain and making sure the network progresses normally. Stackers simply make the network more decentralized, and give miners an extra incentive to be honest.

Rohan – You can check https://www.stxstacking.com/, a tool made by a community member to calculate potential stacking rewards.

Mayank – We want to know the road map for the Blockstack so far, how far has the road map been? what will Blockstack realize in this time? and what will be realized in the future?

Xan – The two main roadmap items are (a) launch of the Stacks 2.0 mainnet (testnet for Stacks 2.0 went live in April) and (b) increased decentralization of the ecosystem (so several other entities and players other than Blockstack PBC contribute to the ecosystem). Full roadmap is at https://blockstack.org/roadmap. Stacks 2.0 is our master blockchain design. It’s the blockchain we wished existed when we were starting off in 2013. The fundamental issue is that having full smart contracts at Bitcoin level is not secure, and registering millions of internet assets at Bitcoin level is not scalable. Stacks 2.0 interconnects with Bitcoin to re-use the security of Bitcoin and adds the missing pieces of the puzzle i.e., a predictable smart contract language and scalability for Web 3 apps and assets.

Rohan – Last but not the least, you can follow our testnet progress here: https://testnet.blockstack.org just remember that our Mainnet Launch is defined by “exit conditions” in every phases and we optimizes for quality vs picking any random dates.

Twitter Questions

Q1. The miners generate $STX in exchange for their BTC, at a rate of 500 $STX per block. What does that amount of $STX depend on, and is it possible that in the short term that amount will be decreased to give more users the opportunity to mine with you?

Xan – The amount is coded into the protocol. That amount shouldn’t prohibit anyone from participating. I expect the amount it takes to be competitive to mine to not be much, to start at least. if that question is referring to Stacking – then you will be able to pool holdings for the purpose of stacking. So everyone can be able to participate.

Q2. $STX was raised over 132$ M mcap and has through the 84th rank in coinmarketcap , do you have a specific target to bring him through the rank 50th ? or are you quite satisfied with this result?

Xan – We don’t. Blockstack PBC specifically focuses on developing the tech and growing the community. In the long run, the secondary. market should simply reflect sucess there. Sites like CMC also have their own proprietary way of ranking, and trying to play to that is a short term game that isn’t worth much in my opinion.

Q3. How can I as a Blockstack participant participate in mining, and receive $STX as reward?

Xan – To mine a Stacks block, a miner sends any amount of Bitcoin to an address provided by the PoX consensus mechanism. The protocol uses the BTC commits as inputs, and combines them with a Verifiable Random Function (VRF) in order to select the winning mining. This is called Leader Election. There is no minimum for the amount of BTC a prospective miner needs to spend, but the more BTC spent, the higher the miner’s chances of winning. Once the protocol selects a leader, that winning miner’s block is broadcast to the rest of the network, and the miner receives a reward of 500 Stacks tokens.

Q4. Are there any benefits when I spend my BTC to mine $STX and how is STX mining any different? How do you ensure the value of $STX i mine is worth more than the BTC spent to mine it, considering the volatile nature of crypto?

Xan – At a basic level, for the same reason you would consider mining on any PoW base chain: because the expected value of the STX you will receive is greater than the amount of BTC you need to spend to win it. This is the same consideration as Bitcoin mining, only the scarce resource spent on that network is electricity.

Q5. You mentioned recently that in order to lock up our $STX tokens and receive rewards for stacking, there is a certain participation threshold that must be reached. Can you explain to us a little about that participation threshold?

Xan – Here are some numbers on 764M liquid supply:
25% participation at 764M is 38,200 STX, rounds up to 40K
50% participation at 764M is 76,400 STX, rounds up to 80K
100% participation at 764M liquid STX is 152,800 STX, rounds up to 160k

The rounding is currently not coded yet but the default proposal is to only round up. Other options being discussed for rounding.

You can’t go below 25% participation but the rest is dynamic. I personally wouldn’t be surprised with a participation range of 30%-50% initially but then again we’re talking about earning bitcoin and a lot of people do want to earn BTC 🙂

Rohan – You can check https://www.stxstacking.com/, a tool made by a community member to calculate potential stacking rewards.

Telegram Questions

Q6. Is it possible to create DEFI products on Bitcoin on Blockstack Stacks 2.0?

Xan – With the launch of Stacks 2.0, yes it’s definitely possible. I would argue Stacking is itself a kind of DeFi product. The launch of the new network means everything. There are over 400 projects building on Blockstack but they haven’t had access to crypto native business models, and smart contracts. This will really accelerlate the degree of experimentation, and the types of products that can be made with not just STX but BTC as well.

You can get involved if you’re a developer by creating smart contracts or creating apps easily. You can also join the community at community.blockstack.org.

Q7. Scalability and security are the two most difficult aspects to reconcile in a Blockchain, how is Blockstack structured to offer the best of both aspects? and why Bitcoin?

Xan – The answer to the last question is the answer to the security. Bitcoin is the longest running, most secure chain that exists to date. PoX allows us to anchor our network in that security. For scalability, we take a different approach than the ETH camp. We don’t believe blockchains should be used as general purpose databases or general purpose computers. They’re meant for establishing global state of a network. So we anchor identities and pointers to where users have chosen to store their encrypted data.

Q8. I briefly saw something like “$STX mining”. How does it work? DO I NEED BIG MACHINES LIKE BITCOIN ANTMINER TO MINE $STX?

Xan – Still seeing a lot of confusion over STX Mining and needing hardware. There is no hardware needed to mine STX. All you do is send a transaction to the network with a BTC payment and you’re proposed block.

STX Mining is more similar to a trading activity than it is PoW mining with hardware.

Thank you to Xan Ditkoff and Rohan, and Community for participating in the AMA. Have a nice day 🙂

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AMA, AMA recap
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September 18, 2020
49

CRYPTONATIONIN X CryptoLocally AMA RECAP

Dear Community,
Thanks all for participating in our CryptoLocally AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this blog post is for you .

Introduction!

Mayank – Hello @jaechung @hgkam welcome to CryptoNationIN 🥳 Glad to have you here with CryptoNationIN.

Hugo – Hi everyone, thanks for having us!

Jae – Hi everyone!

Mayank – Before we start, I request you to tell about yourself to the community.

Hugo – Sure thing, I’ve been working in tech teams since 8 years now, started my professional life at UBS and AXA, then left the corporate world for an online gaming company in Berlin, helped startups as a UI/UX consultant in Paris and finally moved to Hong Kong where I leaded product teams for a couple years. This is where I met Jae and we decided to start a business together. We started a block producer team (HKEOS) on the EOS blockchain and built bloks.io; now the most used block explorer for EOS.IO chains.

Jae – Hi, I started coding when I was 13, and started working at a couple tech startups as a teenager. I met Hugo at a company called Jobable in Hong Kong, where we got to work on a blockchain project together. I was impressed by both the technology and community behind it, and I started contributing to the EOS community as a developer. I wrote open source scripts that helped start and peer nodes, and launch a network (Ghostbusters infrastructure standards). I found a vulnerability in EOS.IO that qualified for a bug bounty and wrote an automated testing suite for EOS system smart contracts (now integrated into Block.one’s codebase). I also helped launch the EOS mainnet along with a few other developers. Outside of starting HKEOS, I advised Lumeos and Uncloak, worked as a tech consultant, and started CryptoLocally with Hugo.

Mayank – Amazing 😉 Could you please tell the community about CryptoLocally.

Jae – CryptoLocally is creating the easiest and most accessible fiat gateway to DeFi and its tools for everyone. Our goal is to empower all people with the tools to take control of their financial future. By eliminating the middleman, CryptoLocally enables people to bypass the onerous fees, interest rates, and other restrictions traditional financial institutions impose. CryptoLocally is already a trusted provider of a peer-to-peer (P2P) digital asset marketplace with no middle-man; it offers out-of-band payment methods and a revolutionary smart contract escrow. People can meet in person, send a bank transfer, or use KakaoPay, AliPay, WeChat Pay, Venmo and more – all in a currency the buyer and the seller decide to use. All the while, their digital assets will be secured in an escrow that is safer than a traditional bank account.

Mayank – Great 👍🏻 How have you got the idea of introducing CryptoLocally?

Hugo – Over the last few years we have traded a lot of cryptos, but we always noticed the difficulty to move in and out of crypto with FIAT. Even if we knew the industry pretty well we always bumped into problems. I had been using LocalBitcoins for OTC transactions for a couple years but it was becoming a real pain, depositing BTC on the platform is very slow and I remember anxiously waiting for a transaction to complete while hoping the price doesn’t tank before it arrives. We kind of got the idea of building CryptoLocally out of necessity, we wanted a quick way to get in and out of crypto, while minimising the risk of losing value along the way and also keep ownership of our assets. By that time, Jae already had a strong knowledge about smart contracts and it became obvious we could build something that would fit our needs and potentially help a lot of people. We started by building the product on the EOS blockchain because it was the ecosystem we knew the best, after a couple months we decided to open up to other blockchains and we kept adding new protocols regularly since then, Binance Chain, Tron, Ethereum, and now we have even integrated DeFi smart contracts into the platform.

Mayank – Wow that’s good to know 👏🏻

Twitter Questions

Q1. As a community driven project; how can I contribute my quota to your project success? Do you have a Global ambassadorial Program or Referral Reward System?

Hugo – We do have a referral program, with which you can earn 10% of CryptoLocally’s fee for every successful trade your referrals make, and earn 20% of CryptoLocally’s fee if the seller and buyer of a successful trade have signed up with your referral code. On top of that, you will also earn 1% in GIV of the value (in USD) of each successful trade your referrals make! Example: When someone you referred successfully trades 1,000USDT, you will then earn 10 GIV.

Once you’ve signed up and you are logged in on Cryptolocally, on this page: https://cryptolocally.com/en/earn you can find your referral link, monitor how many users have signed up with your referral code, how many referred trades have been completed, the total referred trade volume per crypto and the total referrals’ revenue that you can claim. You can transfer your referral earnings whenever you want and instantly to your personal wallet.

Q2. Is there a dispute mechanism in case one of the parties does not comply with the transaction? How would you handle a case where fiat money is sent and the other person does not release the funds?

Jae – Yes, we have a dispute system. Once the buyer confirms that he/she sent the payment, both parties will reach the last step of the trade “Release Escrow”, on this step, the seller has to confirm the payment reception and release the escrow. If the buyer doesn’t pay or the seller doesn’t want to release the escrow each of them can easily open a dispute by clicking on the button “Open dispute”. In this case, the smart contract (Escrow) will be locked automatically and our support team will promptly contact each party to obtain evidence to substantiate the claim. After reviewing each side’s evidence, the support team will release the escrow if the payment has indeed been made. If the payment hasn’t been made, the funds will be returned to the seller.

Q3. Does CryptoLocally have its own token? if so, what is it called, what are its uses and where can we get it?

Jae – Yes we do, it’s called $GIV, and for now you can can find it on Binance DEX (https://explorer.binance.org/asset/GIV-94E) and of course on CryptoLocally (https://cryptolocally.com/en/giv/buy). Please note that the volume is extremely low at the moment because the circulating supply is only 1%. We just closed the private sale round for $GIV and the public sale will start soon. We will make announcements about it in the near future, stay tuned ;).

A bit more about $GIV; you can earn $GIV while trading on CryptoLocally, through our referral system and also earn interest on it directly on the DeFi wallet. There’s a couple more cool features like boosting your offers or buy fees rebates with your $GIV.

Q4. DeFi is one of the hottest topic in the blockchain space right now. Can you share your opinion about DeFi with us? Do you think that DeFi will disrupt the existing financial system? What is CRYPTOLOCALLY approach towards the DeFi sector?

Hugo – It is becoming clear to us that the main application of blockchain technology will be in decentralized finance (DeFi).

DeFi opens doors to a globally interconnected alternative to every financial service you use today — savings, loans, trading, insurance and more — accessible to anyone in the world with a smartphone and internet connection.

We recently released a DeFi wallet on CryptoLocally, you can earn interest on GIV, ETH, DAI, USDT and USDC directly on our platform. Our aim is to create the easiest and most accessible fiat gateway to DeFi and its tools for everyone, we want to empower all people with the tools to take control of their financial future.

Q5. Despite having a tight and secured platforms, security will always be a topmost concern for users. What can CryptoLocally platform guarantee or promise when it comes to security and privacy of its users?

Jae – At CryptoLocally we upgraded traditional escrow systems (used on other P2P platforms) by using smart contracts. This feature completely removes the third party from a trade while keeping a tight security layer throughout the trading process.

Smart contract escrows enable users to trade among themselves without having to deposit their funds on an exchange wallet. The assets are directly sent to the smart contract address and released only when the seller confirms the payment reception. CryptoLocally doesn’t hold custody of users funds.

As for the finance wallet, we never have access to your actual private key. Only the users themselves ever get access to their own keys. We are working with third party auditors to audit our platform as well as our smart contracts.

In terms of privacy, there is no KYC verification needed to use CryptoLocally. You only need an email address to sign up on our platform and start trading P2P. The only time you need to complete a KYC verification is when you want to purchase crypto instantly with your credit/debit card.

Telegram Questions

Q6. Can you please tell How Escrow Works With CryptoLocally?

Jae – Here is a diagram that illustrates how the escrow works on CryptoLocally. The smart contract gets funded by the seller, and only releases the crypto to the buyer when the seller authorizes it after receiving payment. Each trade has a multi-index table ID on the smart contract which can be tracked by anyone on-chain if they wanted to.

Q7. In what ways is your #CryptoLocally partnership with Binance and Tron?

Hugo – We are part of Binance fellowship program and we have multiple ex-Binance advisors. Binance and Tron are helping us with PR and marketing when we list their tokens on our platform, we are also working closely together to see how we can integrate them in our new DeFi features.

Q8. What can you tell us about operations? Is KYC a requirement? If so, are there restrictions for certain countries?

Hugo – There is no country restriction nor KYC needed on the P2P side, the only thing you need to sign-up is an email and a password.

For credit card payments there is a KYC step and here are the restrictionst: https://cryptolocally.com/en/blog/unsupported-countries-credit-card-instant-buy

Q9. As You know, Many people judge a Project By the Token price, What do you have to Say to investors? What’s the plan to increase the Token Demand?

Jae – GIV can already be used on the platform to purchase discount coupons and boosts for trade adverts. GIV used in this manner will be burned in intervals, decreasing supply for GIV.

Soon, we will launch GIVernance, which will allow tokenholders to vote on staking rewards, token burns, and so on, allowing the community to govern and manage these aspects of the platform.

We also plan to increase staking rewards for GIV on the platform. Users will be able to earn more interest on GIV and liquidity providers on exchanges will also earn rewards.

Finally, holding more GIV gives additional rewards and statuses based on a tier system.

Q10. Can you explain some of the outstanding Features of cryptolocally Platform that are very unique & different than most of other similar platforms?

Hugo – These are all of the features that CryptoLocally supports compared to most CEXs, DEXs, and P2P exchanges. On top of this, we reward the trading fees in GIV to our users. Also no KYC and no location restriction, everyone can join and trade right away. Last but not least, we have a lot of different coins/tokens available for trading.

Q11. While watching the CryptoLocally, I thought it was cool. If the price of exchange A is 100 and the price of exchange B is 150, it seems that it can be purchased on exchange A and sold on exchange B. Is this true?

Jae – Yes, great question. CryptoLocally can be used for arbitrage. We have many users who trade above or below market prices on the platform.

Q12. What exact problem is CRYPTO Locally trying to solve in the industry ?

Jae – We want to make crypto, DeFi, and its tools accessible to everyone in the world. CryptoLocally enables online and offline transactions in locations and currencies ignored by the traditional banking industry. A wide range of payment methods is supported to empower all types of users and give them a chance to play their part in the crypto economic revolution. Finally, unlike centralized crypto exchanges, CryptoLocally enables users to trade directly between one another. This makes the transaction simple and fast, doesn’t require any trading skills and removes the need of centralised corporate intermediaries.

Q13. Is Cryptolocally a GLOBAL PROJECT ? Can all communities take part in this project ? Is Cryptolocally a GLOBAL PROJECT ? Can all communities take part in this project ?

Jae – Yes, anyone can trade on CryptoLocally. You can find trade offers from all over the world right now when you go on cryptolocally.com. A large portion of CryptoLocally’s users come from Nigeria, India, Philippines, and Indonesia.

Q14. Can you introduce to us your ROADMAP in Q3 and 4 in 2020?

Hugo – You can find the detailed roadmap on our white paper: https://cryptolocally.com/en/blog/giv-whitepaper.

Q15. What about Staking and Lending plans?

Jae – You can already start lending your crypto to earn interest on CryptoLocally’s Finance Wallet here: https://cryptolocally.com/en/defi
Features include:

  • GIV staking rewards
  • Earn interest on ETH, USDT, DAI, and USDC
  • Simple integration with P2P trading

In the future, we will provide more staking rewards in GIV, and will build yield opportunities cross-chain through CryptoLocally Vaults (CLVs). You can find more information on the roadmap section on our White Paper: https://cryptolocally.com/en/blog/giv-whitepaper/.

Thank you to Jae Chung and Hugo Campanella, and Community for participating in the AMA. Have a nice day 

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AMA, AMA recap
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September 14, 2020
58

CRYPTONATIONIN X DeFiPie AMA RECAP & Winners List

Dear Community,
Thanks all for participating in our DeFiPie AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this blog post is for you .

Introduction!

Mayank – Hello 🙂 @alekseikopievskii welcome to CryptoNationIN 🥳

Aleksei – Hello everyone!

Mayank – Before we start I request you to tell about yourself.

Aleksei – Sure. My name is Aleksei. I’m CEO and co-founder of DeFiPie. Mostly as a business development guy, but working with technology too. I started my journey as a JavaScript developer, finished as a Software developer, but now I’m covering business and operational parts.

Mayank – Could you please tell about DeFiPie?

Aleksei – Sure. There are a lot of words, but I’ll try to make basic intro with sweet info.
DeFiPIE is a decentralized platform that allows you to borrow and lend any assets. With DeFiPie we’re destroying borders in crypto lending market and making “DeFi Uber” for crypto adoption. DeFiPIE is not another DeFi project, we offer new solutions that are not yet available on the market. For example, in all existing lending projects, users are offered a set of a limited preset list of assets. We want to give full assets freedom to users. Users will be able to create their own liquidity pools with any assets at their discretion.

Mayank – Also tell community about DeFiPie ecosystem so that they get to know more about DeFiPie.

Aleksei – Our platform contain 4 important parts – LaaS, SaaS, PaaS, LPaaS
LPaaS – Liquidity Provider can provide assets to existing pools and farm the Governance Token PIE
PaaS – User can create custom pools with a fixed rate for lending. To set up a pool the Governance Token PIE – is needed.
SaaS – Users can stake PoS-based assets in existing pools to earn staking rewards according to the underlying protocols. |
LaaS – On our peer to peer loan marketplace a smart liquidity engine will match orders between borrowers and lenders, with algorithmically derived interest rates based on supply and demand. The matching engine can be adjusted to your needs or even set into a total manual mode where only your requirements count.

Twitter Questions

Q1. With DeFi Pie, there is no need to register or KYC, so how do you ensure the legality of your investors and users in general and the existence of the required funds?

Aleksei – DeFi world has no right legal field right now. We’re watching everything and waiting for proper info from financial regulators. And as you know there is no way to check legality without KYC. For now there is no solution. This is way of DeFi world for now. If you see KYC in DeFi – it’s not DeFi anymore. Once something will be changed – we’ll watch and think

Q2. Nowadays there are many useless DeFi projects popping up! Please tell us what makes DeFiPie trustable as a long term project for users and investors?

Aleksei – I see a lot of questions in our community and in general. They are asking, why we’re not make listings, good marketing and so on. We won’t sell air. We want to sell product and services. So, for now we’re inviting new members to watch our progress and once we’ll finish everything – at least mainnet – you can make decision. That’s a point

Q3. Tell us about your plans for 2020, what are you currently doing and do you plan to expand the list of major exchanges?

Aleksei – Main goal – to release mainnet of main leding application in October 2020. And MAYBE we’ll able to release SaaS by the end of this year (but not sure). Yes, you can expect top tier exchange(s) during 2020.

Q4. Community is a symbolic price. When price go up, people rejoice. but when price down, many people started throwing them away negative. How did the DeFiPie solve this problem? What plans does the DeFiPie take to build a community so that more people see the product than the price?

Aleksei – I’m always directly writing about our goals. Price is always good point, but as I mentioned before – air and dust – are nothing. Our community is strong and they understand that. Of course, we can spend all our money to list on several big exchanges. But what after? We won’t able to release product? They understant this one. I’m sure that everything is under control. Even if you bought $LINK at 20$ – you’re not satisfied. We’ll always see FUD and someone, who’s not satisfied.

Q5. What are the opportunities for low capital users on your staking platform? and how reliable is DefiPie to achieve financial freedom?

Aleksei – You just should be able to cover gas fee. That’s all. Even 1$. About financial freedom – haha) It’s a difficult questions. Depends on where are you based, how much you have, able to loose and so on. But I’m talking about our main products. If you are asking about token price – IDK.

Telegram Questions

Q6. What’s your marketing strategy in DeFi PIE to reach and attract more users globally?What are the challenges DeFi PIE is facing recently? Can you overcome them?

Aleksei – The main challenge – development. But our CTO and co-founder controll everything in case of development. Really great guy. About marketing. Currently I’m onboarding influencers from each country over the world and planning to increase awareness of brand through the offline events. For example, you can meet me and DeFiPie team at BlockChain Life in Russia in October.

Q7. What are your major goals to achieve in the next 3-4 years, where can we see DeFiPie Ecosystem in this period, and what are your plans to expand and gain more adoption?

Aleksei – I can say, that first of all we should cover all promises from WhitePaper. But after…What’s DeFi? We’re planning to expand our value for all financial system. Of course, for now it’s just a plans, but maybe you’ll see DeFiPie Bank in future 👍

Q8. Do you consider Compound and KAVA to be your competitors? What are the benefits of DifiPie in terms of functionality and security?

Aleksei – Yes, I can say that Compound is our direct competitor. Main benefits – users make a choice which asset use for lending, creating pools. Except Compound

Q9. I’m a white hat hacker in internet, do you think DeFiPie system is secure enough from hackers? Does your project have a program that rewards individual vulnerability detection of the system?

Aleksei – Oh, that’s perfect. Yes, we’ll open rewards program for testers, white hackers more closer to main release. Everything what made by human hands – might be broken and hacked, but we’re doing our best and also will make external audit.

Q10. Are you a global project or local project? Can anybody anywhere use DeFi PIE without any restrictions?

Aleksei – As we don’t have KYC and it’s decentralized world – not restriction. But just for now, not sure what regulators will do in future.

Thank you to Aleksei Kopievskii, and Community for participating in the AMA. Have a nice day