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.
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.
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:-
- 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.
- 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.
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.
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?
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