nexo
AMA, AMA recap
, , ,
January 22, 2021
54

CRYPTONATIONIN X Nexo AMA RECAP

Dear Community,

Thanks all for participating in our Nexo 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 @Petar_Marinov @sasserry welcome to CryptoNationIN 🥳 Glad to have you with CryptoNationIN today 😃

Thea – Glad to be here, thank you so much for having us! 😊

Petar – Hi everyone. My name is Peter and it is great to be here with you 🙂

Mayank – Great! Before we start, could you please give a brief introduction about yourself.

Thea – My name is Thea and I have been a Client Service manager at Nexo for almost 2 years now. I am very excited to be doing this AMA with you today and to share more information about our project along with Petar!

Petar – My position in the company is the same as Thea’s – a Client Service manager. I joined Nexo in early 2019 and it has been a truly exciting journey thus far.

Mayank – Also please tell our community about the Nexo.

Petar – Nexo is the pioneer of crypto-lending and has been constantly expanding its suite of services ever since in order to meet the tremendous expectations of our community.

Mayank – Great!

Twitter Questions

Q1. Do you offer any kind of protection for the crypto assets deposited with you? What kind of security features does your platform offer?

Petar – Thank you for this question. I will take this one.

I would like to begin by pointing out that the security of our clients’ assets is of great importance to us. That is why Nexo offers top tier insurance combined with military-grade security. The custodian we use is BitGo and we will also be onboarding more custodians in the future. We also partner with multiple exchanges across the globe. Overall, we are planning to further increase the security of our platform and an announcement in this regard will be made soon.

Q2. What important milestones does NexoFinance aim to achieve by the end of this year and in the future? How will it help you and how will NexoFinance be successful in 2021 and beyond?

Petar – I believe Thea can address this one.

Thea – I certainly can and will, thank you Petar.

We have several projects in the works that we are really excited about. Firstly, both our Nexo Card and our Exchange functionality are currently in the final stages of development and are being beta tested by our clients already. We anticipate official announcements to be made shortly and for the products to be fully unveiled for our entire community. We are always working towards onboarding additional custodians and partners to our project to further improve our services for the better. These and many more exciting news are to be expected in the near future, so make sure you stay tuned! We cannot wait to share them with you!

Q3. Thanks for deciding to do an AMA ! I see the community has been waiting on it 🙂

As its a bit of a controversial topic I’d be glad to hear some info on how you are regulated. Lots of FUDing around so it would be nice to clear things up a bit!

Petar – ok, that would be me.

I would like to assure you that Nexo is a fully regulated company. Our experienced Legal team is constantly monitoring the applicable regulations and any changes made to them to ensure that we are compliant everywhere we provide our services.

Q4. Sup guys! I saw here and there that you’ve liquidated some people and they are not happy about it. The community have provided an explanation, but I think we should hear some answers from you too. Care to shed some light on why you did it?

Thea – Pete, you want to start this one off?

Petar – Sure Thea, thank you.

This is indeed a sensitive topic and we would like to shed more light on it. First, I would like to point out that we do not enjoy liquidating clients as this brings them great distress and there is nothing we like to see less. However, unlike some of our competitors who land on an uncollateralized basis, we do not believe in this. We believe in sustainable lending based on over-collateralization and maintaining an adequate Loan-to-Value ratio at all times is central to the concept on which our business is built. Furthermore, as a responsible and trusted lender, we cannot afford to sit idle when the collateral loses value at a rapid pace due to sudden negative market swings as this would put both our clients and our business at risk.

Thea, is there anything else you would like to add to this subject?

Thea – Thank you, your reply is quite extensive already. I would like to point out that, for the ease and comfort of our customers, our automated system is adjusted to send a minimum of three email and SMS notifications once the LTV of the loan increases over 70%, before any automatic repayments are initiated. This is done to ensure our customers will be made aware of this and will be able to take action on time and prevent such events from occurring. Of course, we still highly recommend for each client to monitor the current status of the crypto market as well as of their loan through their Nexo account, for additional security.

Q5. Hey, big fan of @NexoFinance and I have something important to ask. Have you been audited yet and if no, are you getting closer to completing an audit?

Thea – I will take this one!

This is quite the challenging venture and one we aim to tackle in the near future. I’d like to start by saying that no crypto company is currently audited. This is due to the fact that auditing companies do not currently have the expertise or capability to adequately audit crypto companies and similar projects to ours. We are glad to inform that we are working closely alongside several top auditing firms as well as independent consultants to build the model for successful auditing of crypto lenders and exchange providers, in order to aid the mass adoption of crypto everywhere!

Telegram Questions

Q6. Is Your project a Global project? Is any of the local communities restricted from contributing to the project ?

Petar – Yes, Nexo is a truly golobal company that offers its services in more than 200 jurisdictions across the globe.

Q7. Does #Nexo have a Staking and farm program to use $NEXO token?

Thea – Indeed, one of the utilities of the NEXO token is to provide you with higher interest rates for our Earn product, and lower interest rates the loans we offer. This is done by storing a specific amount of NEXO tokens in your Nexo account per our Loyalty Program (https://support.nexo.io/hc/en-us/articles/360017445559-Nexo-Loyalty-Program-Explained). You can see the exact requirements by clicking on the hyperlink.

Q8. How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates??

Thea – Indeed, if you do not want to miss any important announcements, please follow us on these channels:

Telegram – https://t.me/nexofinance

Twitter – https://twitter.com/nexofinance

Facebook – https://www.facebook.com/NexoFinance/

You can also sign up for our newsletter at https://nexo.io/#footer-scroll

Q9. Most of the activities and platforms are in English. How will you reach non-English speaking local communities? Do you have any plan to conduct Ambassador Program?

Petar – We actually have local TG groups for some of the languages/countries, besides our main group – https://t.me/nexofinance and we’ll probably have more as our community is constantly expanding, reaching new shores. Furthermore, the admins are actually native speakers which will contribute to attracting more local members.

Q10. What strategies wiII your team use to educate and attract people who don’t know blockchain and cryptography?

Petar – As you may have noticed we have upped our efforts considerably over the past months to ensure that our clients are fully aware of any changes and developments concerning Nexo and the crypto space at large. We have also started issuing more educational material about Nexo’s services and the crypto-space in general. Our communications teams have targeted their efforts at crypto enthusiasts as well as any clients who may have not been in contact with crypto yet. We feel that one of the key challenges to mass crypto adoption is literacy and understanding and we take it upon ourselves to make crypto accessible to all.

Q11. 1,000,000,000 FOR tokens is a lot. What mechanisms for increasing the value are you planning to use? Perhaps a buyback or token burn system?

Thea – Indeed, we have already introduced a buyback program (https://nexo.io/blog/nexo-launches-12-million-dollar-buyback-program) for up to 12,000,000 USD. This has already resulted in a steady increase of the value of our token. We are also working on improving the utilities to the token itself as well as introducing more functionalities and products to our platform in order to further bump up the price.

Q12. I would like to have a long term investment with your project but at the moment I have doubts, how can you convince and convince me that this project is very promising?

Thea – With Nexo, you can take advantage of high intertest yields along with low interest rates on your loan. For larger customers, we have an Account Manager program initiated, so their financial needs can be individually met and accommodations provided where and however needed. In addition, we have an Over the Counter Trading desk, tailored to further be able to cater to your needs.

Q13. Tell us about your plans for 2020, what are you currently working on, and are you going to expand the list of big exchanges?

Petar – I think you have witnessed the success of Nexonomics so far. As part of Nexonomics 2.0, we plan on further expanding our suite of services. For instance, we expect to launch the hotly anticipated NEXO card that would make our Instant Credit lines all the more accessible. We are also looking to launch our own exchange service that would allow our clients to swiftly and conveniently swap their assets on our platfrom. There are definitely more exciting things to come so stay tuned!

Q14. Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?

Petar – Indeed, there are many scam projects in the crypto space. However, as a pioneer in crypto lending, Nexo has no intention to leave the space, in fact we are working to grow even more each day. One evidence of our commitment to our customers and the idea behing our project would be our 30% dividend distributions, carried out once a year. Since the first distribution in 2018, we have delivered over 9M USD in the form of dividends, to show gratitude back to our community.

Q15. While you build your project, do you take into account community feedbacks and demands?

Petar – Yes. We are actively listening to our clients. Constructive criticsm is greatly appreacited as it helps us identify the apsects of our services that can be further improved. We will surely keep working on that so we can deliver more to our community in 2021.

Q16. Partnerships are crucial for Adoption, so can you tell us what partners you have currently and future partnerships

Thea – It is true that partnering with the right projects and companies is a great way to boost a business. Among our current partners are Jumio, who aid us in the customer verification and securitisation process, as well as BitGo, who are our main crypto custodian at the moment. I am certain you will appreciate that there are confidentiality requirements to be followed with some of our partners. You can find more information on this matter from the following page (https://nexo.io/about-us).

Q17. Projects that are not traded on major exchanges remain unnoticed. What does you think about listing the token on the leading exchanges?

Petar – I completely agree with you. We are already listed on major exchanges such as Binance DEX and Huobi. Still, we will continue looking for new partnerships with other well-known crypto exchanges in order to attribute greater prominence to our native token and make it more easily obtainable.

Q18. Where did you get the inspiration for this unique project idea? And what influence will we have on the crypto industry due to the project?

Thea – The beginning of Nexo’s success story is all about a group of friends and crypto enthusiasts with a total of 35+ years of experience in traditional finance who got together and identified the challenges of capitalizing on your crypto assets while still holding onto them. They quickly came to the realization that a service that would allow you to do that was virtually non-existent and this is how Nexo’s crypto-backed instant credit lines came into being.

Thank you to  Petar Marinov (Client Service Manager), Teodora Trankova ( Client Service Manager) and Community for participating in the AMA. Have a nice day.

neighbor
AMA, AMA recap
, , ,
January 12, 2021
56

CRYPTONATIONIN X My Neighbor Alice AMA RECAP

Dear Community,
Thanks all for participating in our My Neighbor Alice 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 @antler_anna @lenny_antlerinteractive @anastasiazudina welcome to CryptoNationIN 🥳

Anna – Hello everyone, happy to be here😃

Lenny – Hello everyone, happy to be here😃

Anastasia – Hello everyone 👋

Mayank – Before we start, I request you to give a brief description about yourself to the community.

Anna – Hi everyone in CryptoNation! My name is Anna Norrevik and I’m the CEO of Antler Interactive, which is the studio behind My Neighbor Alice. I’ve been 7 years in the games industry including 5 years at Paradox Interactive, as team leader/producer for 7 expansions, including the largest game project at Paradox, Crusader Kings 3.

Anastasia – Great to be here today! ✨ My name is Anastasia. And I am working with Marketing together with the Antler Interactive team. My background: I have an MA in Business and Marketing. Ex-professional athlete and gamer. 😊 I am working closely with blockchain, crypto, and gaming and have vast experience in these fields.

Lenny – Hi all! My name is Lenny Pettersson and the CMO of Antler Interactive. I have 15+ years of experience within the media & gaming industry. Worked 8 years as Senior Marketing Manager for the Nordic & Baltic region at Turner a WarnerMedia company. Vast experience in launching original IPs (such as Adventure Time) for Cartoon Network. I joined Antler Interactive in 2019 and my introduction to Crypto was when I worked on marketing our mobile game Krystal Kart AR which has blockchain features such as race car NFT:s and a CryptoKitties integration.

Anna – Antler Interactive was founded in 2016 and we are an interactive game studio based in Stockholm, Sweden. Conceived from and previously known as SVRVIVE Studios, a pioneer in VR with globally best selling and award-winning titles. Antler Interactive is a revival of our passion for immersive experiences and a transition into a focus on mobile tech and games.

Mayank – Amazing! Good to know about you guys. Could you please tell our community about My Neighbor Alice.

Anna – My Neighbor Alice is a creative, social multiplayer builder game, where anyone can buy and own virtual islands, collect and build exciting items, and meet new friends. It is inspired by games such as Animal Crossing, and the game combines the best of the two worlds – a fun narrative for regular players who want to enjoy the gameplay experience as well as an ecosystem for players who want to collect and trade NFTs, even if they have no idea what an NFT is.
Our goal is to make My Neighbor Alice not just a game for blockchain players. But a game to introduce blockchain to millions of players.

Mayank – Great! Thanks for introduction.

Twitter Questions

Q1. How do you plan to spread awareness about your project in different countries where English is not spoken well? Do you have local communities for them to let them better understand about your project?

Lenny – We´re working with and will enlist more strategic partners in key markets around the world that will be of great importance to us in regards of increasing awareness about My Neighbor Alice. Please join our community groups and stay tuned for more news and feel free to share them as well:)

Q2. For new users in your platform, How do you welcome them? What are the promotional or welcoming events that they might want to enjoy as a new users in MyNeighborAlice?

Anna – For new users we want to make sure it’s as seamless as possible to start playing the game. One feature we have is the “Creative Mode” in order for people to try the game’s mechanics without having to buy a plot etc. In addition, first time users will gain some Alice tokens for free so that they can get started quickly, and in order to make sure the plots are not all purchased immediately you’ll have to log in to the game three days in a row to claim the land which has previously then been reserved for you.

Lenny – And of course all new users will get a warm welcome by Alice herself and will help onboard new players with fun quests to complete which will let them find out more about the game. After all she´s your new neighbor😃

Anastasia – And will receive “Alice welcome package!” with in-game items 🎁

Q3. Do you have any plans to attract non-crypto investors to My Neighbor Alice?, What are the plans to increase awareness about My Neighbor Alice around in non-crypto space? And which region is in your mind?

Anastasia – Our project, My Neighbor Alice is primarily targeting non-crypto users and audiences in general. It is for the users who can get quickly onboarded from regular platforms, such as Steam and other major platforms. Despite its blockchain characteristics and in-game DeFi elements, only players will decide how much they want to be involved in the game’s decentralized features and DeFi and keep blockchain as an optional functionality. All of that can be interested and for crypto and non-crypto investors.
The gaming industry is in a very interesting period where procedural building games start trending, and a very few exciting building games have successfully incorporated blockchain technology. We also believe that the style of the game can be uniquely identified. The game philosophy is memorable. I.e., we use “Alice” as a central figure in the game to connect the users to a “fantasized neighborhood.”
Further, our roots are in making great games and marketing and building strong brands. In combination with all the strong strategic partners we’ve secured in the blockchain and crypto space, that makes us very confident and excited about the future of this project.
We aim to spread the fun playing Alice across all continents, so it has no limits and boundaries! 🌐

Q4. What is the main focus of ‘My Neighbor’ Alice as of the moment ,is it marketing or developing it’s product? Who is your target market? Are you providing your services or product globally or you have specific area focusing on?

Anna – Our main focus for MNA is currently to build the game and spreading the word in the cryptocommunity. I expect most of our focus the upcoming 6 months will be to find the right talent and continue to develop the game to make sure it’s ready for Early Access in the summer of 2021.

Lenny – Regarding the target market. It is first and foremost a game for a large global audience of players in general but an initial focus will be leading gaming markets in Asia and North America. No prior knowledge about cryptocurrencies is needed. Because of that, we compare mainly with the normal game market, and target the same players. A much bigger audience than previously seen in the field of blockchain gaming, and an associated larger opportunity for revenues.
We have made an analysis of the target market of the Inspiration games such as Animal Crossing.
My Neighbor Alice has a wide appeal, but primarily targeted towards 18 to 39 years old with a female skew.
With that said, the Crypto audience is of great importance for us and we´re working hard right now to increase the awareness about My Neighbor Alice towards the Crypto community around the world.

Q5. Could you tell us a little about your greatest achievements in 2020, what are you working on right now? What are the main thoughts you want to convey through today’s AMA?

Anna – One of our most recent titles, Krystopia: A Puzzle Journey, has reached about 400k installs during 2020, which we are very happy about. With our most recent release Krystopia: Nova’s Journey, released in July 2020, we have achieved a review score of 4.8 on Google Play, which is proof that we’re increasing our quality with every release we’ve made so far. That’s why we’re now so excited to have started the two biggest projects ever of the studio, one that is still in early pre-production, I can hint that it’s an open world adventure game though 🙂 And the second one being My Neighbor Alice, our creative social builder game.
Today we’re here at the AMA to answer any questions from the community and hopefully get you as excited as we are about our new project: My Neighbor Alice.

Telegram Questions

Q6. What will be the advantages of in-game tools such as NFT Creator and Game Creator for gaming experiences to users?

Anna – In MNA you will be able to monetize your creativity, energy and effort that you’ve put into the game as a player. As opposed to Minecraft or Animal Crossing where you can’t really monetize when you choose to leave the game, instead here you may pass on your creations for your benefit (money) and your creations can live on forever with someone else taking care of them. In the game it will be a fun creation tool where there is a predefined set of textures and assets that you use to easily make your own NFTs.

Q7. What is the strategy used by Your Project to attract new users and investors and keep them in the long term?

Anna – Our strategy to attract new users is to market our appealing game to a large target audience, making it look interesting and fun. We will have a smooth onboarding for non-blockchain players. Every new player gets some free ALICE tokens when completing the first introductory quests, so that you can always afford to buy a land plot. In order to actually receive your land plot you’ll have to log in to the game three days in a row to finalize the purchase. Which creates some early retention. To keep people in the long run we plan to release future updates with fresh content, new features and fixes. Plus adding new unique maps where you can buy new land plots.

Q8. what companies are you partnered with or seeking to partner with in future ?

Lenny – Please see our announcement channel regarding current investors and partners https://t.me/AliceAnnouncements/7
More news to follow so please stay tuned:)

Q9. A question about ALICE tokens, the adoption of tokens into the ecosystem is one of the good things to increase its usability and spend, so what role does ALICE token play for the ecosystem?

Anastasia – Hello and thank you for your question. 👋
ALICE is an in-game currency which you will use in order to purchase in-game items and NFTs in the marketplace and win as a reward during competitions and quests. What is more, owning an ALICE token will enable you to stake them in return for a reward and participate in the governance process through the Community Council.
ALICE token is the native currency in the game. It allows token holders to play, invest and also be part of the game. There is a fixed supply of ALICE tokens.

Token utilities includes:
Payments: ALICE is the game currency that players use to purchase assets and land in the game.

DeFi: Staking is a way to lend a currency, and receive interest in return. Token holders could participate in staking and earn rewards as a certain percentage of platform revenues will be given out as staking rewards. For instance, the gaming platform would have revenues from plot sales, asset sales, transaction fees etc. and that a fixed proportion would be distributed to the staking pool. NFTs will also have DeFi features such as collateralization and buybacks.

Governance: Owning Alice enables the player to participate in the governance process through a decentralized organisation, with proposals and voting structures. There are issues related to the platform operations and development that could be decided based on the preference of the token holders. In order to encourage users to participate in the voting process, there will also be rewards for voters.

Play to earn: There are a proportion of the tokens reserved for user incentives. By completing quests in the game, players could earn ALICE tokens. This design is to encourage user participation in the game and to maintain traction.

Read more about ALICE on our website https://www.myneighboralice.com.

Q10. While you build your project, do you take into account community feedbacks and demands?

Lenny – yes, community feedback is and will be very imortant to us.

Q11. How was the project affected by the Covid 19 outbreak? Did it lead to a change in your roadmap?

Anna – Not much to be honest. As a studio we started working from home already in March and so when we started with the Alice project we had already adjusted in a lot of ways. Even though covid 19 has brought a lot of damage to the world, for us it might actually have attracted more potential future gamers.

Q12. what companies are you partnered with or seeking to partner with in future ?

Anastasia – Hi there! 👋 We just secured funds and several strategic partnerships for the project, which you can read more about here. This, together with the current core team on board, makes us very confident about the future for the project: https://t.me/AliceAnnouncements/7.

Q13. Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?

Anna – The game is different from other blockchain projects in several ways. One is that our primary target audience is non-blockchain people, which means that we will create a very smooth onboarding for those people that have never heard of a crypto wallet and that they, later in the game, find out about the benefits of using blockchain to monetize their efforts and trade with friends.
A second difference is that our primary platform to start with will be Steam, and we’re planning for more platforms later. Also, I think we have a much more distinct visual identity with a broader appeal than the other games in the blockchain market.

Q14. Would there be a need for more team members and ambassadors?

Lenny – We do see a need for that so please follow our community groups and stay tuned for more news:)

Q15. Why whitepaper is draft version? When the final one will be released?

Anna – Great question! We’re currently working on that, and since the game is in early prototype still, we are adding new features and design to the game. I think by the end of January, we should be able to finalize it.

Q16. Can you list some great features of My Neighbor Alice that makes it ahead of its competitors? And what problems do you see occurring in the blockchain industry nowadays and how does your project aims to solve these problems?

Anastasia –

https://youtu.be/_iuiTosZsOU

My Neighbor Alice includes a variety of in-game features designed to advance and upgrade users’ gaming experience.

-Players can trade their land and other in-game items, such as houses, fences, animals and plants in the virtual in-game marketplace.

-Virtual islands are important elements of the game infrastructure. Players can purchase plots of land from Alice after the onboarding or in the marketplace. It is important to note that there is a scarce supply of plots in the universe and each piece of land is represented in the form of NFT tokens.

-Avatars are used to represent players in the game. Players can customize and personalize their avatars with the help of cosmetic items and modify it by installing different assets to it.

-Players can collect and trade various in-game items, such as houses, fences, plants and animals in the in-game marketplace.

-My neighbor Alice will have a reputation system that rewards players as good landowners with increasing benefits (up to participating in the Community Council).
My Neighbor Alice will enable various possibilities for players to work on a shared goal and join resources to complete fun activities. For example, the game will enable community-created events where players will participate in activities and competitions.

-My neighbor Alice will also enable a decentralised forum, where users will be able to discuss the game activities, figure out the upcoming votings schedule within the Decentralized Organization, search for new friends, etc.

Thank you to  Anna (CEO), Lenny (CMO) & Anastasia (Marketing) and Community for participating in the AMA. Have a nice day.

rsz_my-visual_46438160_59
AMA, AMA recap
, , ,
January 8, 2021
46

CRYPTONATIONIN X Nord Finance AMA RECAP

Dear Community,
Thanks all for participating in our Nord 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 @amarnath_reddy welcome to CryptoNationIN 🥳

Amarnath – Hi Thank you , happy to be here ! Hello everyone

Mayank – Before we start, could you please give a brief introduction about yourself?

Amarnath – My self Amarnath CEO of Nord Finance , I have been into crypto since 2017 end, the exact last bull run. I was fascinated by the technology and volatility of the industry, we then Co-Founded Amesten Asset (crypto Hedge fund) along with Sachin jain, taking care of operations and Research analyst for early-stage blockchain startups.
After leaving from Amesten in Sept 2020 , I have Co-founded Nord Finance along with Jignesh who is lead Developer at Tezos India Foundation , he also worked on financial platforms with Ethereum & Hyperledger Fabric.
Nord finance is an advanced decentralized financial ecosystem designed to simplify DeFi investing by bringing key features of traditional finance to the DeFi ecosystem. We want to be an investment banking on DeFi .

Mayank – Could you please tell more about Nord Finance to the community.

Amarnath – Nord finance is an advanced decentralized financial ecosystem designed to simplify DeFi investing by bringing key features of traditional finance to the DeFi ecosystem. Designed as a blockchain agnostic platform with multi-chain interoperability, we aim to offer users an easy access to a plethora of financial products including, but not limited to, yield-farming aggregation, funds management, Robo-advisory, and loans against assets.
At Nord Finance, we are building a one-stop advanced decentralized financial ecosystem for its user’s investments to meet their financial goals. Within the Nord Finance ecosystem, we are building 4 key products:
Nord.Savings
Nord.Advisory
Nord.Loans
Nord.Swap

Mayank – Amazing! Also not much time left for Nord IDO on PolkaStarter. Excited for this 😃

Amarnath – Yes its planned on Jan 12th , very soon

Mayank – Yeah 👍🏻

Twitter Questions

Q1. On January 12, 2021, you announced that it would hold an IDO at PolkaStarter, the leading Cross Chain auction protocol. What is the advantage of doing an IDO on PolkaStarter and what benefits will it have for your project and users?

Amarnath – Polkastarter is a permissionless DEX built for cross-chain token pools and auctions, enabling projects to raise capital on a decentralized and interoperable environment. We believe in the decentralization that is the reason we are doing our IDO on polkastarter . Followed by Uniswap listing. Then we slowly move to CEX for catering the needs of all user types.
We have our IDO on polkastarter on 12th Jan and immediately listing on Uniswap same day with $373K initial market cap with very low initial supply of 4.14%. NORD Finance Whitelist Form – Phase 2 i Starts at 9th Jan 2021 at 12:00PM UTC.

Q2. What roadmap Nord finance plan for Q1 Q2 Q3 Q4 2021?

Amarnath – Nord Savings V1 on ethereum is planned to be launched in Jan 2021, followed by our liquidity mining program and applying stable coin yield farming strategies. Savings V2 is planned in Q1 2021 which will be extended to other blockchains such as the binance chain , matic , tezos and polka dot ( not in any particular order). Then we have a road map to launch swaps, loans and advisory etc.. . More can be found at https://nordfinance.io/.

Q3. Can you share your fundraising situation and how your private and public offering tokens are distributed? And what are the plans for the next IEO/IDO? What should we prepare if we want to participate?

Amarnath – Fund raising details can be found here !
http://news.yahoo.com/nord-finance-raises-1-23m-104200710.html?soc_src=community&soc_trk=ma
https://nordfinance.medium.com/nord-tokenomics-and-distribution-edba056bf6e1
https://nordfinance.medium.com/nord-finance-nord-announces-its-ido-on-leading-cross-chain-auction-protocol-polkastarter-4f34bcfbf07d

Q4. To me the success of a token depends of its utility on its ecosystem, so can you tell us how many usages or application have the $NORD into the ecosystem ?

Amarnath – $NORD token has various utilities in the Nord Finance financial ecosystems:
Liquidity Mining: In order for the Nord Finance ecosystem to function properly, users would need to be incentivised to play the role of liquidity providers and stake their digital assets into the market making pools. As compensation for opportunity costs as well as impermanent losses, these liquidity providers which help to promote adoption of the Nord Finance ecosystem by staking or including assets to liquidity pools would be rewarded with $NORD tokens (i.e. liquidity “mining” programs on the Nord Finance ecosystem), according to each user’s relative contribution after various adjustment and correction parameters.

Incentivizing programs: Users can earn $NORD token incentives by participating in the platform, for example trading/exchanging, or development of new strategies for the vault.

Distributing Fee Rewards: In order to stimulate participation in the platform , $NORD token will be distributed as rewards to users for various contests and community giveaways.

Community governance incentives: The $NORD token holders will earnestly participate in the protocol’s governance by voting on various proposals regarding product upgrades. Users will be required to stake their $NORD tokens in the staking program to participate in governance and vote on proposals, and as a reward they will be able to earn additional $NORD tokens proportionate to their contributions.

Service fees: For the services rendered a small fee/profit share would be charged by the protocol in $NORD. These fees will be retained in the protocol treasury.

Cross Chain Settlement: Using the $NORD token as the base platform currency, $NORD will expedite digital asset swaps between compatible blockchain seamlessly.

Q5. “🔥On Nord Finance Website, I See Nord finance have 4 key products
1.𝗡𝗼𝗿𝗱 𝐒𝐚𝐯𝐢𝐧𝐠𝐬,
2.ℕ𝕠𝕣𝕕 𝔸𝕕𝕧𝕚𝕤𝕠𝕣𝕪,
3.𝙉𝙤𝙧𝙙 𝙇𝙤𝙖𝙣𝙨,
4.ℕ𝕠𝕣𝕕 𝕊𝕨𝕒𝕡,
So, Can you explain us the role of these these four products in your ecosytem and how does it helps to keep NORD ahead of its competitors? And When these are launched?

Amarnath – Nord.Savings: Allows optimizing returns through a multi-chain yield-farming mechanism for stable coin farming with the highest possible risk-adjusted returns. To maximize returns, the protocol employs the highest risk-adjusted APY’s. Whereas it leverages the DeFi Score framework to assess and analyze the dynamics of protocol risks. Nord.Savings provides a seamless interface to access the world of DeFi-based yield farming effortlessly without any technical implications as the traditional financial counterparts.

Nord.Advisory: An inbuilt robo-advisory service designed to chalk out profitable and customized strategies for users to hold better positions based on their financial goals. The automated robo service analyzes the user profile and evaluates personalized solutions that will help accomplish the users’ financial goals by employing a diversified portfolio. The data-driven proprietary algorithms facilitate unleashing the potential of a certain portfolio by executing smart tactics. This service is a revolutionary move as the technical nitty-gritty of the DeFi landscape might seem a bit complex for novice users, thus demanding assistance for the same.

Nord.Loans: DeFi users can leverage their crypto assets to their greatest potential by pledging them in smart contracts to avail loans for unanticipated circumstances. The process to avail of an instant over-collateralized loan is quite uncluttered and hassle-free. This is a smart alternative to borrowing loans without liquidating the crypto assets to meet financial obligations. It also offers a personal overdraft facility with the benefit of paying interest while withdrawing the amount.

Nord.Swap: Built on the Ethereum Network, Nord.Swap is a blockchain agnostic permissionless instant swap protocol driving cross-communication and interaction of virtual digital assets effortlessly. The future of decentralization rests in multi-chain. Therefore, Nord.Swap powers innovation by offering a multi-chain swap facility for DeFi users. This is one of the essential aspects of a decentralized future.

These are the brief overview about our products !

Telegram Questions

Q6. Originally the name of the project was Slick Finance and then changes to Nord Finance, so Easy a clear, what is new in Nord in comparision with its older version?

Amarnath – We believe the brand name should truly represent the purpose of the brand. With that thought, we felt that as we evolve our brand-name should evolve with us.
As we searched for our new brand-name, NORD resonated with our core objectives: Inclusiveness, Community Governance, Maximization & Security.

More can be read at https://nordfinance.medium.com/slick-finance-is-evolving-introducing-nord-finance-5f1352a2196d.

Q7. How will $ NORD tokens be used for this exact purpose?

Amarnath – $NORD token has various utilities in the Nord Finance financial ecosystems:

Liquidity Mining: In order for the Nord Finance ecosystem to function properly, users would need to be incentivised to play the role of liquidity providers and stake their digital assets into the market making pools. As compensation for opportunity costs as well as impermanent losses, these liquidity providers which help to promote adoption of the Nord Finance ecosystem by staking or including assets to liquidity pools would be rewarded with $NORD tokens (i.e. liquidity “mining” programs on the Nord Finance ecosystem), according to each user’s relative contribution after various adjustment and correction parameters.

Incentivizing programs: Users can earn $NORD token incentives by participating in the platform, for example trading/exchanging, or development of new strategies for the vault.

Distributing Fee Rewards: In order to stimulate participation in the platform , $NORD token will be distributed as rewards to users for various contests and community giveaways.

Community governance incentives: The $NORD token holders will earnestly participate in the protocol’s governance by voting on various proposals regarding product upgrades. Users will be required to stake their $NORD tokens in the staking program to participate in governance and vote on proposals, and as a reward they will be able to earn additional $NORD tokens proportionate to their contributions.

Service fees: For the services rendered a small fee/profit share would be charged by the protocol in $NORD. These fees will be retained in the protocol treasury.

Cross Chain Settlement: Using the $NORD token as the base platform currency, $NORD will expedite digital asset swaps between compatible blockchain seamlessly.

Q8. What exactly is your Robo consulting service, how do you categorize the user profile and investment requirements in this field, and how does Robo consulting create investment strategies?

Amarnath – User Risk Profiling: Nord’s risk profiling mechanism evaluates the user’s risk profile based on their risk required, risk tolerance and risk capacity to accomplish the user’s financial goals.
Risk required determines the optimum amount of risk needed to achieve the financial goals while the risk tolerance and risk capacity act as the balancing factors to determine the level of risk the user is comfortable with.
Thus, the risk profiling framework chalks out the optimal level of risk/drawdown that a user can possibly tolerate in relation to the expected returns.

Portfolio Rebalancing: Data-driven proprietary algorithm deploys stablecoins in a diversified asset portfolio in tandem with a user’s financial goals. Due to the dynamic nature and abrupt volatility of digital virtual financial primitives, portfolio rebalancing facilitates adjusting risks intermittently to minimize user’s risk exposure through advanced automated solutions. Certainly, it restores the users’ portfolio to its target allocation with a desired asset mix by divesting underperforming assets and purchasing the ones which potentially surge.

Q9. When they tell us about Nord Loans, they explain that users can benefit from a loan with excess guarantee, which can cover any unforeseen expenses, what would be the term that users would have to pay that loan? in case of not complying with that time will there be any penalty?

Amarnath – At NORD users can leverage their crypto investments to their greatest potential by pledging them in smart contracts to avail loans for unanticipated circumstances. The process to avail of instant over-collateralized loans.
Assets held under the NORD protocol are defined as the portfolio value. This portfolio can be used as collateral to borrow from the protocol.
To determine the available borrowing limit a collateral factor is used. This factor represents the portion of the underlying portfolio value that can be borrowed.
In case any account’s borrowing outstanding exceeds their borrowing capacity determined by collateralization ratio, a portion of the outstanding borrowing needs to be repaid at the current market price minus a liquidation discount. Thus, the token value at which the borrowing needs to be repaid in case of liquidation will be lower than the market price.

Q10. Zero cost transactions, is this really true 🤯😳 ?! how is this supported?

Amarnath – “Nord.Finance also pools liquidity from multiple users. As more users adopt Nord.Finance, the Smart Contract achieves economies of scale. Thus, achieving near zero gas fees compared to the gas fees paid by traditional yield-farmers.
As we are going to pool the funds for interacting with protocols , the fee paid is only once in stead of user being paid by self for each interaction. We are optimizing the gas fees ,making it to as low as possible . There wont be any upfront fee for the users all the fees are adjusted in final APY https://nordfinance.medium.com/how-does-nord-savings-work-part-2-b70483631273″

Thank you to  Amarnath Reddy (CEO & Co-founder) and Community for participating in the AMA. Have a nice day.

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AMA, AMA recap
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January 7, 2021
42

CRYPTONATIONIN X Amepay AMA RECAP

Dear Community,
Thanks all for participating in our Amepay 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 @kamal_v welcome to CryptoNationIN 😃

Kamalakannan – Hi community glad to be here for the AMA.

Mayank – Before we start, could you please tell about yourself to the community.

Kamalakannan – Myself Kamalakannan Venkatraman, Co-Founder & COO of AMEPAY.

Mayank – Can you please explain what AMEPAY project is all about?

Kamalakannan – AMEPAY is a cryptocurrency-based payments alternative that is fast, convenient and secure. We Digitalize the world & connect crypto market with Retail and F & B industry through AMEPAY wallet and Cloud AMEPOS Software.

Mayank – Great 👍🏻

Twitter Questions

Q1. Which part of the project are you most focused on right now? What is the current $AME revenue model? where can I buy $AME Tokens? and Can I buy them with a visa / Mastercard?

Kamalakannan – AMEPAY is more focused on listing AME in top 3 exchanges. Currently AME is listed in BKEX exchange and on 7th January AME is getting listed in Bithumb Global. AME revenue comes from the Subscription of Cloud PoS Software.
AME tokens can be bought in BKEX exchange and from 7th onwards AME can be bought in Bithumb Global. There are options to buy AME with credit/debit cards from Exchanges.

Q2. What is your plans in place for global expansion, are AMEPAY focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this?

Kamalakannan – AMEPAY is focused on bringing 5+ Million Merchants into its Payment system. We have Merchants/ Customers in 8 countries already and AMEPAY has business operation in 5 countries. We have 2500+ Merchants using our Tech currently. We are partnering with leading payment houses for getting new Merchants through the partnership deal.
The Blockchain based Cloud PoS is completely developed and we are looking to on-board new Merchants globally.

Q3. Revenue is an important aspect for all projects in order to survive and keep the project / company up and running. What is AMEPAY way of generating profit / revenue? What is the income model?

Kamalakannan – AMEPAY has two revenue streams.
1) Getting subscription of $20 from a Merchant per month for providing Cloud Point of Sale AMEPOS software + E-commerce website + AMEPAY payment integration.
2) Getting profits from transaction costs.
AME tokens will be bought back from the 20% Revenue generated every quarter and burned. We want to keep the circulation to 250 Million in the market.
We will generate revenue of $25 Million from 2022 and the Revenue increases based on the acquisition of Merchants globally.

Q4. $AME is build on Ethereum blockchain which have huge gas fees and low transaction speed. Will there be any change on blockchain in future?Can we expect a blockchain of AMEPAY itself in future?

Kamalakannan – AMEPAY has developed own Blockchain and we will be migrated from ERC-20 to own chain in Q1 2021. This will solve the issues in transaction costs and the time.
AMEPAY own chain can process 300,000 transactions per second.

Q5. What will be the advantages of investing in AMEPAY and why do you use PoS software and infrastructure?

Kamalakannan – AMEPOS is an advanced Point of Sale (PoS) software built on Cloud. We are integrating this Software with own Blockchain for making payments simple and fast. We are incentivizing the Merchants & Consumers in our ecosystem on every transaction.
AMEPAY is revolutionizing the Payments in Retail and F&B sector and hence the utility is more. Investors can buy AME in Bkex & Bithumb Global Exchanges and have it for transactions and short term investors can hold for few days and sell when we announce listing in top 3 Exchange by February.

Telegram Questions

Q6. I am a crypto investor and I only care about prospect of a crypto that I chose, tell me the reason why I should choose your project over the existing one ? What is your coin advantage that can convince me to change from my favorite token ?

Kamalakannan – AME has a real time utility in Retail and F&B industry..Currently AMEPAY payment system is integrated with 2500+ Merchants globally and before 2021 we will onboard 1+ Million Merchants. We are here to Revolutionize the Payment industry through our Cloud PoS and own chain.

Q7. Which one of these aspects important for you?
A-Increasing Token Price&Value
B-Empowering Platform Development
C-Building Community Trust
D-Expanding Partnership Globally

Kamalakannan – All…our team is working hard 24*7 in achieving all of the above…we have already achieved some and still working on it.

Q8. Security is really important and valued by users these days. Would you mention #AMEPAY security measures? How is it protected against any hacking attempt, and in case it succeeds, is there insurance for investors?

Kamalakannan – Yes AMEPAY is highly secured and we have three layer security embedded.. We can’t be hacked and in case it succeeds our investors are protected….

Q9. The use and support of your token is very important to built a strong ecomomic enviorement, so can you explain what are your strategies to increase your demand? The $Amepay will use an deflationary or Burnt mechanism?

Kamalakannan – We have restricted our circulating supply to 250 Million AME and bringing in more utility globally will increase the demand very organically.
As mentioned in Q and A – 20% of our revenues in each quarter will by used to buyback the tokens and burning it…

Q10. On the topic of the need to increase the value of the token or reduce market capitalization, will the AMEPAY Ecosystem accommodate a BuyBack/Token burn mechanism after the token sale or in the near future?

Kamalakannan – Yes explained.

Q11. Smart contracts are prone to bugs, How efficient and secure is your smart contract. Have you ever been audited through external parties, so we are sure that this project is safe and good for the future of investors?

Kamalakannan – Our chain is very safe and yes it is audited. We are deeply focussed on the investors safety…
Holding AME and Staking in our network for few months will wonders for the investors as many partnerships with leading payment houses be announced this quarter..
AME listing in one of the top 3 exchanges by Feb 2021.

Q12. There are 3 core issues prevalent in crypto and blockchain: Security, Interoperability, and Scalability. so, how does Your Project plan to overcome these issues?

Kamalakannan – Our chain is highly secured and largely scalable. Release of our tech is the important achievement.
We have a product which provides the Merchants with Cloud AMEPOS + E-commerce website + AMEPAY Payment system integration.
We are now integrating our tech with existing Merchants of 2500+ and expanding to 1+ Million Merchants globally

Q13. Are you a global project or local project? Can anybody anywhere use Your project without any restrictions?

Kamalakannan – We are a global project..Any body from any corner of the world can use our tech as we are cloud based….

Q14. Smart contracts are one of the vital objects of security, how about smart contracts at AME PAY have they been audited by internal or external parties then how ready is your platform to respond to these conditions?

Kamalakannan – AMEPAY own chain is highly secured and audited by external parties…
1) Cloud PoS integrated payment system
2) Transaction speed (300,000 TPS)
3) Instant settlements for Merchants in Fiat currencies

Q15. AMEPAY claims to solve some of the current blockchain platform issues, some about transaction fees and give cashback on transactions made.Can you explain the AMEPAY technology that makes you confidence to compete?

Kamalakannan – AMEPAY tech is highly scalable and into mass adoption due to the incentives and Rewards in the ecosystem.
Moreover we are in Retail and can see Millions of transactions in own chain…

Q16. What are the types of users on your project? How do you keep all users to stay with your project for the longterm?

Kamalakannan – Merchants, Consumers and Payment Partners use AMEPAY Payment system. Strong utility of AME, limited circulating supply will lead to huge demand and all users will hold for long time

Q17. Does the price of the token matter to you from an operational perspective, if the token price is $1 or $100?

Kamalakannan – No..We have a strong revenue model for the business apart from the tokenomics.. Our business is already in existence for more than 4+ years…
We need the community to know about the revolutionary payment system AMEPAY.

Q18. How does AMEPAY increase the value, liquidity and utility of tokens? So that it can lead to an increase in token prices? What is your plan to make your project stable and provide the highest return for investors in the long term?

Kamalakannan – We are already listed in Bkex exchange…We did IEO and raised $1 million USDT in few minutes..
The IEO price was $0.02 and now currently trading at $0.03. We are getting listed in Bithumb Global on 7th January 2021 (Tomorrow). Listing on Top 3 exchange by Feb 2021.

Q19. What is total supply ? Are your plans to focus on market or to grow community?

Kamalakannan – Total supply is 1.5 Billion and the circulating supply is restricted to 250 Million.

Thank you to Kamalakannan Venkatraman (Co-founder & COO) and Community for participating in the AMA. Have a nice day.

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AMA, AMA recap
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January 6, 2021
44

CRYPTONATIONIN X Konomi Network AMA RECAP

Dear Community,
Thanks all for participating in our Konomi Network 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 @yige910627 welcome to CryptoNationIN 🥳 Glad to have you here 😃

Jayden – Hi guys great to be here to share our project. Thanks!

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

Jayden – Hi everyone, this is Konomi’s COO Jayden. I have been working in Singapore after graduating from the National University of Singapore with a major in electronic engineering, I used to be OFO’s regional manager in Singapore, responsible for OFO’s expansion and operations in Singapore. Later I founded Mileslife, A technology startup company that used technology to improve the efficiency of the tourism industry. I have been interested in blockchain and Bitcoin since 2015, so I participated in Bitcoin mining and ICO investment in the early stage. At the beginning of 2020, I felt that DeFi has really brought application scenarios to the blockchain, so I joined the Konomi project founded by several NUS alumni. Currently, I am responsible for the operation of the project and business development in China. Most of our team members are still based in Singapore and the focus of the project was mainly on development. With the improvement of our product development progress, the project has also recently received a grant from the Web 3 Foundation, and we have also begun to speak out in the market. I am very happy to communicate with the community here.
The vision of Konomi at the beginning of its establishment was to enable financial applications on Ethereum to seamlessly connect to the Polkadot ecosystem, and to provide the users with a complete asset management experience – from liquidity protocols, to lending market, as well as the management of ecosystem assets. Polkadots has more application scenarios which are different from Ethereum in terms of governance and parachain auctions due to its better base layer performance. As a result, we believe that Polkadot-based financial applications will also have more opportunities than Ethereum. Thus, at the initial stage of our product design, we first built the underlying facilities which are decentralized liquidity protocol and lending protocol.

Mayank – What an elaborative introduction 😃

Jayden – Thanks. I hope to have more interactions with the community here in future.

Mayank – Could you please tell about the use cases of Konomi?

Jayden – KONOMI is targeting crypto users that are looking into investing, trading and managing assets in an efficient way. It is currently deployed as an independent blockchain using the Substrate framework. At launch, it will support functions in trading, deposits and lending. As the Polkadot parachains are launched and that interchain communication protocols are live, Konomi could support more financial products specific to the Polkadot ecosystem.
Interaction between cross-parachain applications: Different parachains will use their own native tokens as the cost measurement of system applications, such as gas fees, service fees for calling services etc. Due to the completion of the XCMP protocol, the cross Parachain message passing is possible, and there is more space to support cross-application collaboration. Konomi’s decentralized liquidity protocol allows users to seamlessly use applications on different parachains without the need for repeated exchanges of different tokens on centralized exchange. In the future, when the asset ecology on the parachain becomes more mature, we can support instant token exchange-just like spending credit cards overseas, there is a default settlement currency.

Mayank – Could you tell our community about the differences between Konomi and other lending projects?

Jayden – I will compare Konomi with a few current Defi lending project.
1) Match lending: dYdX, Dharma, etc.
Let’s take dYdX as an example for match lending. An obvious feature of the dYdX platform is that it requires both the borrower and the lender to exist at the same time and the amount of loans and borrowings has to be equal for matching to take place. Therefore, the shortcomings are also obvious, it is unable to respond to demand in a timely manner, and transaction efficiency is low.

2) Loan only mode: MakerDAO
MakerDAO is an old DeFi project on Ethereum, with ETH and DAI tokens in its fund pool. The user lends the stablecoin DAI issued by the MakerDAO platform through mortgage of ETH, but users cannot lend personal assets on MakerDAO. MakerDAO’s lending function is relatively simple and cannot meet most market needs.

3) Liquidity pool lending: Konomi, Compound, etc.
Compound’s liquidity pool lending is much more optimized than the above-mentioned lending model. The most unique feature is that the supplier and lender can be regarded as two liquidity pools. The borrowing demand is carried out in the liquidity pool, and the borrowing interest rate and collateral value are automatically adjusted according to market demand through smart contract algorithms. Konomi not only inherits the advantages of the Compound liquidity pool lending mechanism, but also makes it possible to provide lending services for the entire encrypted asset market based on the characteristics of Polkadot’s cross-chain transaction. So the above mentioned projects are basically Ethereum based so I would also like to compare Konomi with some Polkadot lending projects.

Let’s compare with Acala and Equilibrium which are Polkadot based on lending projects.
Acala mainly provides stable currency lending services for the Polkadot network. Similar to MakerDAO’s DAI, Acala also has its own stable currency aUSD, which is also secured by encrypted assets as collateral. If Acala develops well in the future, Konomi will also establish a connection with it to improve the liquidity of the stablecoin in Polkadot ecocosystem.

The Equilibrium is launched by the EOS stablecoin team aims to build a cross-chain token market for Polkadot, and its official business direction is indeed similar to Konomi. However, under the funding of the Web3 Foundation, the development of this project was mainly focused on the data analysis of DeFi asset volatility and value at risk, and the function of the lending sector was relatively lagging.

Polkadot-based Konomi has more advantages in this regard, as interest rates update faster and the curve is relatively smoother. Konomi currently adopts a mortgage lending method, which requires users to over-collateralize. With the improvement and promotion of the DID decentralized identity infrastructure, Konomi will also design a set of reputation mechanism to reduce the burden on mortgages for users with good reputation. The Konomi lending sector is also fully compatible with Polkadot’s cross-chain ecology. Through cross-chain messaging (XCMP), all parachain assets and bridge chain assets can interact with Konomi, and its community users can also enjoy more free lending services. In that sense, I would say Konomi is a unique GEM in the ecology for now.

Mayank – What is the current stage of Konomi’s product development? Is there an approximate time for the official launch?

Jayden – Konomi’s technical design mainly has five components. The first two components have been completed. They are the asset components including an AMM module which is similar to Uniswap’s asset exchange protocol that supports users to perform asset exchange, add and remove liquidity operations and lending module that support multiple assets. In addition, the lending component will be launched before the end of this month. This is the key and unique aspect of Konomi, and it will support various types of lending pools. The user can mortgage assets in these pools to earn interest. If the users have enough collateral, they can also borrow other assets in the pool while paying some interest. The remaining governance components and oracle components will be completed in Q1 next year. The official launch time of the product is also closely linked to the launch time of the Polkadot Parachain. In addition, we will launch our testnet and open a faucet for users to try our current functions by the end of January.

Mayank – Will Konomi have a public sale plan? How one can get tokens in the fastest way in the early stage?

Jayden – I know many users are concerned about it. However, Konomi does not have a public sale plan at the moment, but in Konomi’s economic model, a large part of the token is used as incentive for the platform users. Therefore, users will receive token rewards for providing liquidity on the konomi platform and deposit DOT assets on the platform when the product launched. Of course, Konomi token will also be listed on major exchanges, and some market incentive plans will also be implemented. Please pay attention to the official community and get project related information as soon as possible.

Mayank – Thanks for an elaborative introduction.

Twitter Questions

Q1. What are you most excited about on the roadmap of 2021?

Jayden – We have a series of development plan for 2021 including developing governance module, risk management module, integrating oracle etc. The most excited part should be the integration of SWAP module and lending module which we have completed development as it will enable leverage trade which make Konomi different from other Defi projects.

Q2. How does the network developed by KONOMI plan to provide money markets for assets in the Polkadot ecosystem? What will be the first assets that will be part of this model? What types of markets will you create for them?

Jayden – We start from lending but I believe we will derive more application scenarios as parachain launch. We would also like to on partnership with other Polkadot projects to derive more application scenarios. At the beginning of our launch, we will firstly support mainstream assets like DOT but we will support ERC20 assets when cross chain transaction is available later this year and that’s the beauty of Polkadot and why we develop our projects on Polkadot. On top of that we will issue our native token KONO.

Q3. For the second quarter of 2021 you have planned the launch of the governance function. What kinds of decisions can users make within the Konomi ecosystem?

Jayden – The design and implementation of the protocol would be determined by token holders. For parameters like pool staking fees, transaction fee burn, liquidity mining ratio, are initially set by the protocol itself; token holders could update the numbers and the smart contract itself based on the voting process. In order to encourage users to participate in the process, there could be some profit set to reward the voting participants.

Q4. I understand that Konomi Network will participate in the Polkadot Parachain Slot auction. Can you share some details with us?

Jayden – Konomi will definitely go for Parachain slot auction. I think it will be very competitive at the beginning and the cost will be very high but the cost will drop gradually as more parachain launch. We have reserve a significant amount of token for auction. It will be used to reward DOTs holder who have supported us for the auction. On top of that, we will develop a crow-funding module for the upcoming auction.

Q5. Why do you think $KONOMI token is necessary for your project? What is the main role of $KONOMI in your project?

Jayden – Ok let’s talk about the token utility. I have mentioned previously that our token can be used for decentralised governance. There are other functions which I will elaborate a bit more.

User incentives
As a decentralised product, getting liquidity is crucial for the user experience and platform adoption. Therefore, a large proportion of the Konomi tokens are reserved to encourage users to add liquidity to the platform and to use the products. By depositing assets to the protocol, users could automatically market make for the protocol. In designing the user incentives, the protocol also takes into consideration the long term sustainability of the token. As there are more liquidity mining programs launched by DeFi protocols, users tend to participate in those programs in order to earn tokens rather than to fulfil their true needs. In the meantime, as more tokens are generated, there is continuous selling pressure to the network if no strong use case is designed to create demand for the token. Therefore, in designing the liquidity mining program, priorities would be given to long term supporters and market makers for the protocol.

Asset staking
Konomi token could be staked to participate in the base layer consensus and earn system rewards. It is also the staking currency to share platform revenue and ensure that the debt positions are safe.

Telegram Questions

Q6. A good amount of $KONO are destined to “users Incentives” so can you explain how many Incentives or revenues plans do you have to your users?

Jayden – Thanks for reading our article and deck. The ‘good amount ‘is 15% of the total reserve.

Q7. What are the risk management policies that #KONOMI uses to safeguard the investments and credits granted by its platform? How do you really ensure that there is a backup base to rely on in the face of any situation or sudden change in the commercial markets?

Jayden – Risk management is always the top priority for any finance project regardless of Cfi or Defi. We are in the midst of developing our risk management modules which will including functions like auto liquidation to safeguard our user from huge fall of the market.

Q8. At this point, do you think you need exchanges as a binance to keep growing? Or is it better to forget those things and focus on other activities?

Jayden – I will say both are important for us. However, project developing is always our top priority regardless of which exchange we are going to list. However, we are confident that we will be listed by Q1 on tier 1 exchange.

Thank you to Jayden Antonio (COO) and Community for participating in the AMA. Have a nice day.