Recapitulation of Poolz DeFi AMA event held at AMA LOVERS CLUB
Venue: https://t.me/amaloversclub
Date: Wednesday, 28th October, 2020
Time: 15:00 UTC
The Poolz DeFi team was represented by two core members. They both judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you please introduce yourself and the poolz DeFi project. Also what milestones have you achieved And target milestones with timelines
Ans : Sure, a few words about Poolz, Poolz is a decentralized, layer-3 swapping protocol for cross-chain auctions of Fungible and Non-Fungible (NFT) tokens, as well as OTC deals. The core code is optimized for DAO ecosystems, enabling startups and project owners to bootstrap liquidity for their crypto-assets, before listing.
So, we are tech serial entrepreneurs with a history of working in the computer software and blockchain industry, personally been a crypto investor for over 6 years, and have gained a lot of connections and knowledge in the field. In his most recent role, he managed community engagement at Endor Software, a MIT based startup that raised over $ 50 million, including from the Google Founder VC.
Guy CEO: is a Serial tech entrepreneur and founder of 2 startup companies, which employed over 40 people. In his most recent role, Guy was the COO & Founder of Fokoya, A Fintech company that provides a gamification platform for the financial market based on P2P technology and operated across 60 countries. He is experienced in managing operations, go-to approach, P&L management and fast-moving environment.
Stan CTO: Experienced and out of box Founder and developer with a demonstrated history of working in the computer software industry. Skilled in Management and Strong business development working to bring the future closer. He loves cutting edge technology, and has entered the blockchain space in 2016, where he co-founded Cryptonex - Algo Trade.
His main focus is on Poolz Defi with helping build the first cross-chain decentralized environment architecture designed uniquely for DAO ecosystems.
Main Achievements:
• Regarding development, we are in very advanced stages and the testnet already live under Rinkeby.
• Strategic Advisors: Lead developer from eToro, Lead Blockchain Consultant at Tomochain
• The company already completed an initial round of raising $250K from recognized and strategic investors (private equity and tokens).
• Their Marketing & PR strategy- they work with Market Across - the company who also does the PR for Binance, Polkadot, Tron.
2nd Segment: TWITTER QUESTIONS
Q1 : How does a layer 3 swapping protocol work?
Ans : That’s a great questions Kenneth, so, Layer 3 is the place where general applications developed on the second Layer could be used for develop specific solutions. Using smart contract or atomic swaps or lightning networks for APIs, developers can integrate and build applications that serve a narrow and specific function. Decentralized Finance (DeFi) is one of the application built on the third layer, and here Poolz for this space we are aiming Poolz.
(Layer-2, on the other hand, is an overlaying network that lies on top of the underlying blockchain. Layer 2 refers to a secondary framework or protocol that is built on top of an existing blockchain system).
Q2 : Who can initiate a pool on the Poolz platform? What are the steps to follow in order to initiate a pool?
Ans : Basically, there are two categories of Poolz users:
-B2B - Project Owners (DeFi) or Pool Creators
-B2C - Investors or Liquidity Providers (LP)
Project owners side - can initiate a pool by clicking on the ‘Create a Pool’ button. Since Poolz follows a strict non-intervention policy, project owners or POs need to specify following parameters as: The token address, The total supply,The asset for payments, The swapping ratio, The total duration of the pool.
Liquidity providers / investors side - Poolz has a marketplace-like UI, where liquidity providers or LPs will be able to browse all pools hosted on the platform—past, ongoing, and upcoming. At this stage, the investors will have preliminary access to the following information about the pools: Opening Time,Closing Time, Time Left,Token Name, Payment Method ,Swapping Ratio, Status.
Moreover, liquidity providers can claim rewards in POZ for contributing to the network and in proportion to their contributions, LP will gain a percentage of the total liquidity deposited over the current week. At the beginning the rewards calculation will be every 4 Hours, can be changed by governance in the future
3rd Segment: LIVE QUESTIONS
Q1 : Does Token Poolz Also Includes Burning and Token buyback?
Ans : Hi, thank you for your question.
As part of our long term strategy our aim is to keep and incesie the token value. We are putting a lot of efforts in order to define a strong strategy and to build a burning mechanism that will be implemented from day one at Poolz Platform.
Token Burn:
PoolzDefi will follow a Limited Top Value burn policy, using 16.667% of its daily earnings to market buy POZ tokens (upto 20% of total supply) and burn them. This, in turn, will enhance the ROI for the entire POZ holder community, by enhancing the token’s inherent value.
Q2 : What are Poolz marketing plans to do to attract more users as well as investors in the upcoming time?
Ans : Great question @Hendrasico,
At the level of PR, we work and are accompanied by “Market Across”, a leading company in the field that works with top brands as “Binance”, “Polkadot” and Tron.
In terms of marketing, we are connected to a number of well-known communities and crypto influencers who will help us spread Poolz to the world.
We plan to launch a significant PR campaign next week, which will include reviews and articles on leading technology and economic sites.
We work also to establish communities run by local community leaders in various countries such as Vietnam, Korea, Japan and more.
we will forge strategic collaborations with leading blockchain companies, in order to allow them to do cross chain swaps on Poolz platform - our ultimate customers, as part of an agreement with each blockchain we plan a joint PR campaign. The collaboration will bring new relevant users to the platform.
Q3 : How many $POZ communities have? Can I become a $POZ Ambassador?
Ans : Sure. DM me after the AMA (:
Q4 : The internet is history and fundamental technology in real life all over the world, Bitcoin is History, cryptocurrencies are history now, Croos Chain is also history but I wonder how Poolz Defi thinks or is making history, what are the challenges or the wall that Are you thinking of jumping ahead of time and making history?
Ans : Hi!
Being at the forefront of technology is our main goal.
Our objectives in order to achieve our targets: In the decentralized ecosystem we can compare the smart contract by creating a "puzzle" structure that everyone could take a part in. For example, developers can build either a small or a big function that can complete the bigger picture of a smart contract and share it with the ecosystem.
This means that the existing technologies that we are using hopefully will be a tool that other projects will use as an additional simpler way to build their products.
Q5 : How many tokens do I need to become eligible for the POZ holder benefit? And what benefits does a POZ holder stand to enjoy?
Ans : Hello, as POZ you will have variety of benefits as ;Access to exclusive pools: As already mentioned, every pool on the platform is limited to POZ token holders for an initial duration after its launch.
Access to better swap ratios: Exclusive pools also offer special discounts for POZ token holders, thus enhancing the possible returns for liquidity miners.
Governance: The Poolz platform will implement a regular Proof of Stake (PoS) consensus mechanism, enabling POZ holders to gain voting rights by staking their tokens is designated wallets. In general, the mechanism will involve limited-period staking, to be defined in details at the time of the platform’s governance launch.
Staking: POZ token holders will be able to generate annual passive income from their POZ tokens, by staking them in specific ERC20 wallets. As an incentive, POZ holders will gain staking rewards (discussed under allocation).
Q6 : Can liquidity providers claim rewards in POZ for contributing to the network? How will the rewards be calculated? Can this calculation be changed in the future by governance?
Ans : Hi (:
In proportion to their contributions, liquidity providers will gain a percentage of the total liquidity deposited over the current week. Swapping rewards on the platform will be calculated and disbursed every 4 hour and in weekly cycles, can be changed by governance in the future.
Mechanism: Suppose, LP (A) contributes to Pool (1) in the first 4-hour slot of Day(1)—Week(1). Now, if LP (A) is the only investor during this period, he/she get 100% of the swapping reward for that slot. Then, say, on the third 4-hour slot of Day (2)—Week(1), LP (A) would still be eligible for swapping rewards, but in proportion to the total liquidity deposited in the meanwhile. Likewise, LP (A) continues to get some reward for the remaining week.
Liquidity providers can claim rewards in POZ for contributing to the network.
CONCLUSION
Before going, share any Final Words you have for the community and also do good to share every useful links to Poolz DeFi with us here
Ans : Thank you everyone it was a great pleasure to be hosted in your group. Hope we answered all of your questions as our time is limited. We were not able to answer everyone but please feel free to DM us if you have more questions.
Again, thanks for the invite!
Attaching Direct link to participate in our private sale which is currently available:
https://forms.gle/Sn8eRL6YPhfWX7hSA
for more information about us here and don't hesitate to direct your questions to me if any afterward :)
Follow Poolz DeFi on the following platforms:
... Website: https://poolzdefi.com/
... Twitter: https://twitter.com/Poolz__
... Telegram: https://t.me/PoolzOfficialCommunity
... Medium: https://medium.com/@Poolz
... Discord: https://discord.gg/8REVabc
... Github: https://github.com/The-Poolz
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