Recapitulation of Bird.Money AMA event held at AMA LOVERS CLUB
Venue: https://t.me/amaloversclub
Date: Friday, 20th November, 2020
Time: 14:00 UTC
The Bird.Money team was represented by @Simba202000. He judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you please introduce yourself and your background, also introduce the Team working on Bird Money
Ans : I am Simba, king of the defi jungle. I am a software developer, investor, and blockchain enthusiast with 15 years of industry experience in the fintech and digital forensics industry.
Q2 : Can you introduce the Bird Money project, what critical problems does it solve that existing solutions are not solving and what’s the competitve advantage
Ans : We have an extensive team of developers, financial experts, data scientists who are brilliant but shy but excellent at what they do
Bird Money is an open and inclusive monetary ecosystem built on the Ethereum protocol. Bird.Money aims to create an Off-Chain Oracle Data analytics platform for the Ethereum blockchain, connecting outside organizations, and investors to the Defi market with low risk. We aim to launch several components to achieve this namely, Bird Non-Custodial Loans, Bird Analytics, and Bird Farm.
Lack of trust with transacting partner is a big issue for both investors looking in from the outside and even trading partners within the defi ecosystem
We aim to solve this by being the goto sector for verufying any ETH blockchain address, or account
We aim to the be the Experian of the defi industry so to speak
Q3 : Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap
Ans : When looking at BirdMoney roadmap, lots of great updates have been released and more are coming in near future.
We just recently released two working products and are on track to release more, check https://app.bird.money/, https://www.bird.money/docs
All our roadmap milestones are important to us and the community, but if I am to narrows it down to the key few:
--Launching the $Bird Off-Chain Oracle platform
--Release $BIRD Yield Farming
--Integrating $Bird Loans with Compound, AAVE and Oracle Analytics guarantee
--Cross chain collateral on Bird Loans
Please read more here https://medium.com/bird-money/bird-money-road-map-e4bdf0a011f6?source=friends_link&sk=818de62b8f94da659c9db5f3973f0b05
2nd Segment: TWITTER QUESTIONS
Q1 : We are actually seeing integrations happen across several blockchains at the moment. Currently, Birdmoney is working on ethereum blockchain. Why choose Ethereum rather than any other scalable blockchain platform?
Ans : If you look @ our, by march next year we aim have a cross-chain collateral acceptance on bird loans
Integrate cross chain collateral on Bird.Money using digital assets beyond the ETH network.
Our proprietary API also allows integration with not only other blockains but also outisde application to make it attractive for investors looking into the defi sector
Read more about the API here: https://www.bird.money/docs
The reason we are starting with etherum is because of the concentration of defi services in that area, as the market moves we @ bird.money have the expertise to change with the wind and our API shows that we are flexible and ready to adapt.
Q2 : What is the speed of your Off-Chain Oracle DATA? Can it sustain the big demands of the Defi Markets respectively?
Ans : We have tested it against 100,000 thousand requests a minute, and it perfomed well without any issues.
We are currently in process of integrating with a company that uses Blockchain as a payrol services and so far our Off-chain oracle has been able to sustain that scaling
Have a look at our our github repo on on-chain oracle smart contract and try it https://github.com/bird-money/on-chain-oracle
Q3 : xposure to Total market Cap requires additional technologies such as oracles. Can you give us details about the type of oracle will you use? what is the technology behind?
Ans : We are using an off-chain oracle analytics to serve as a consensus to the on-chain oracle mentioned before
Our Analytics platform connected to an Off-chain oracle would allow maximum exposure of the bird market cap. Similar projects such as OCTO and recently SMARTCREDIT are in the 20 millions market CAP. We believe bird.money will double or tripple that market cap in the next couple of weeks
Q4 : How does Bird Money plans on using Off-Chain Oracle Analytics to help reduce the risk investors face?
Ans : bird.money + is a service we will be launching that provides information about loan applicants or customers to reduce the risk of default to investors. The more information provided by the borrower, the less collateral needed to borrow and more funds available to be borrowed.
https://medium.com/bird-money/bird-money-off-chain-oracle-analytics-fddb33527989
Q5 : Can you please elaborate on the 20% liquidity allocation for yield farming especially on the BIRD-ETH and BIRD-DIA? The return of $bird equivalent to the amount of $bird tokens staked, how is it calculated?
Ans : We aim to use part of that liquidity not just for farming but also for the bird+ programme mentione above
Extra amount of bird tokens will be offered to borrowers without any extra collateral based on their transaction history and rating from bird money Off-chain Oracle Analytics.
We have calculated the interest against the length of tokens being borrowed and anticipate 20% liquity will be enough to fund the programme and the yield farming
The return of bird equivilent to the amount staked will be using a similar novel pattern to the bird+
Bird = Amount to borrow + Transaction History / Amount to lock up
Example with transaction history, and amount of Bird tokens available to borrowers
3rd Segment: LIVE QUESTIONS
Q1 : How will you implement an off-chain API interface in providing third-party integration for companies and developers?
ETH account analysis What are the advantages of POST and GET endpoints?
Ans : As a company of developer, you can integrate to our platform through our API easily to query any ETH address and get back transaction score, trust score etc https://www.bird.money/docs, you can also check out our gihub Oracle Solidity repo classes on how to integrate Bird Analytics Oracle with your smart contracts.
The POST and GET Endpoints provide you with a json response and you can also do a query filter directly, read more about in there https://www.bird.money/docs
Q2 : If you guys were me ... where would you buy Bird Money tokens and how much?
Ans : You can buy bird.money from Monday 23rd, visit bird.money and follow our official channel for announcement on how to participate in the next round
Q3 : Off-chain Oracle Analytics is a service that provides information about loan applicants or customers to reduce the risk of default to investors. How users can safely operate within that protocol without fear of revealing their personal information?
Ans : There is a level of anonymity involved with all the services that we offer, only you ETH address acts as your ID.
Q4 : What Are The Evidence I Will Receive After I Have Invested My Token In Bird Money?
Ans : You will recieve the tokens immediately after investment, and we will be listing on uniswap immediately.
Q5 : The $BIRD Liquidity Provider will be paid monthly for its contribution and will receive $BIRD. What Pair are supported in the liquidity pool?
Ans : Not only will they be paid monthly, but they will also share transaction fees from the combined loans offered through the platform and share a divident of the interest from borrowed tokens
Q6 : When looking to BirdMoney roadmap, lot of great updates are coming in near future, what are the most important upcoming Milestone ? Does Your Project have Great team and Financial support to achieve that milestones ?
Ans : Yes, all our roadmap milestones are important to us and the community, but if I am to narrows it down to the key few.
--Launching the $Bird Off-Chain Oracle platform
--Release $BIRD Yield Farming
--Integrating $Bird Loans with Compound, AAVE and Oracle Analytics guarantee
--Cross chain collateral on Bird Loans
On great team and financial support, yes we have the most capable team a deFI project can wish for, Software developers, Fintech Experts, Product Managers, Designers and Marketers
We are constantly looking to bring in the best and brightest talents to join our growing team, have a look @ our hiring channel on discord to see open positions and positions already filled. https://discord.gg/Z2BeCnS
All the funds raised from the rounds of presale will be invested back into hiring more team members, meeting the milestones early and creating the highest value for money for our early investors.
Q7 : Collateralized Debt Position (CDP) was recently introduced by AAVE,
How exactly does CDC affect and work with " BIRD MONEY" financing sector?
Ans : We are integrating with AAVE’s CDC but not only that, also extending it further to carter for emerging markets by offering extra asset to lenders with less collateral. read more here https://medium.com/bird-money/bird-money-loans-non-custodial-digital-asset-loans-b1f55341aa4e
Q8 : Analytic proof of account of the oracle concept or integrated with the API,
what is the function, sir?
Ans : Yuo can analyse any ETH account and smart contract just by using the address. We are releasing more futures about this. see it in action here https://twitter.com/_birdmoney/status/1323024155013455873?s=20
CONCLUSION
Thanks for answers, Do you have any Final Words for community, also do good to share every useful links to project with us
Ans : Please send more questions to our channels below and will be happy to answer them later.
Twitter: https://twitter.com/_birdmoney
Medium: https://medium.com/bird-money
Discord: https://discord.gg/Z2BeCnS
Website: https://bird.money
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