Coinversation x Im Community AMA Recap

🐋 TELEGRAM AMA: Im Community & Coinversation 🐋
⏰ AMA Timing : 19 September 2021 l 02:00 PM UTC l 21:00 GMT +7
Venue For AMA : https://t.me/imcommunityitw

🎁 Reward Pool 100 USDT
Bà Tân | : Welcome @paulwan4828 from Coinversation.

🍀Jőhn L🍀 : The product handler of Coinversation and the previous product director of Alibaba

Bà Tân | : Welcome everyone. Today Im Community will host AMA with Coinversation.

Bà Tân | : Today our guest is: @paulwan4828 from Coinversation.

Paul : Nice to meet you guys here

Paul : I am Paul from Coinversation

Bà Tân | : Can you introduce yourself to our Im Community?

Paul : I am Paul from Coinversation. Currently is the product handler of Coinversation. I worked in Alibaba as product director before.

Paul : Happy to be here to share with you guys about Coinversation

Bà Tân | : Thanks for the introduction.

Bà Tân | : Today’s AMA will have 3 sessions

Sessions 1: The chat will be muted & the team will introduce themselves then we will ask some introduction questions to the team Coinversation

Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1439099002553733122).

Sessions 3: The conversation will open to the community questions and the 5 best questions will be selected.

Bà Tân | : Requirements:

🗣Im Community (https://t.me/imcommunityitw)

🗣Coinversation & KACO (https://t.me/coinversationofficial)

🗣Coinversation official channel (https://t.me/coinversation_announce)

🗣Twitter Coinversation (https://twitter.com/Coinversation_)

👉More information about Coinversation :

🗣Website (http://coinversation.io/)

Bà Tân | : Start session 1 AMA @paulwan4828

Bà Tân | : Question1. Could you please give us a simple introduction of Coinversation? What’s the motivation for starting build Coinversation?

Paul : Sure

First of all, in the protocol layer of Coinversation, we have planned three modules of DEX, synthetic assets, and NFT aggregation. DEX is the basic module in these three plates, which provides a good ecological and user consensus foundation for synthetic assets and NFT aggregation. At the same time, it realizes the establishment of basic assets. This protocol layer is completely open-source in the future for more ecological Dapp direct use.

Ahrix : @paulwan4828 Please say “Done” when you have finished the question, thank you.

Paul : The synthetic asset protocol and NFT aggregation module are interlinked from the underlying logic. NFT fragmentation and liquidity mining are almost the same as synthetic assets, and it is also a mode of asset regeneration. Therefore, based on the user and asset base of DEX, the synthetic asset protocol, and NFT aggregation extend the user behavior.

There will be many trading scenarios after the user assets enter Coinversation’s Dapp. For example, traditional dual currency pledge mining, interesting NFT trading, NFT fragmentation, liquidity mining, synthetic assets, derivatives trading, etc.

Done

Bà Tân | : Question2. Why did Coinversation choose to develop the project on Polkadot? What is your advantage? @paulwan4828

Paul : Currently the infrastructure on Polkadot is still relatively lacking. The Substrate-based framework can break the limitations of the existing Solidity / EVM technical framework and better expand and extend its functions.

The high degree of freedom of the agreement means that more complex functions can be implemented. Now everyone is waiting for the Polkadot parachain to be fully online. Everyone is equal at the starting line. So for entrepreneurs, Polkadot is a very good place at this stage.

We paid very early attention to the Polkadot ecosystem and were very interested in its governance mechanism, so we were thinking about how to participate in Polkadot. DeFi is the fastest track where we can land with a DApp, and it can be seen that this track has a lot of room for development, and there are many problems worth exploring and solving.

In simplest terms, choosing synthetic assets and decentralized transactions, Coinversation is a DEX and synthetic asset protocol that integrates Balancer and Synthetix. This is a 2B+2C model that can maximize user group and asset liquidity.

We hope to be the best decentralized exchange in Polkadot ecosystem. Primarily we can serve more projects like ours, and better enable all kinds of projects to land on our DEX. The landing of synthetic assets creates links to stocks, foreign exchange, commodity and other financial products so that a vast number of traders and retail investors can trade on DEX.

Done

Bà Tân | : Question3. What role does the $KAC token play in your ecosystem? What is the benefit of holding $KAC Token? @paulwan4828

Paul : Kaco went live on BSC on August 24. TVL has broken through $9M in two weeks, and the ATH about $3.7. The overall performance is still in line with our team’s overall planning and expectations for this project.

Kaco is an EVM version of trading platform for Coinversation deployed on BSC and Kusama. Coinversation will be deployed directly on the Polkadot parachain as a synthetic asset and NFT aggregation protocols. It can be understood that Coinversation is the protocol layer of Kaco, and most of Kaco’s functions and codes rely on the underlying protocol of Coinversation.

We will continue to promote the diversification of Kaco’s trading pairs and increase the depth of liquidity mining. At the same time, Kaco’s NFT fragmentation will also meet with you in the this months.

At that time, users can fragment their NFT into NFT100 then stake and earn kac. For sure, we will launch the KACO NFT pool first. Also, we will start the $kac staking soon.

Welcome to use kaco finance if you are interested in it.

https://www.kaco.finance/

Done

Bà Tân | : Question4. Security is one of the most important things. How does Coinversation protect user’s asset? @paulwan4828

Paul : Don’t worry about security issues. Recently, our project has passed CertiK’s code audit. You can check the specific audit report information on CertiK official website or click the link to view: https://www.certik.org/projects/coinversation

To make Kaco safer and build confidence in our users, we’ve transferred the ownership of our main contract MasterChef to timelock with a delay of 12 hours to execute any transaction.

Done

Bà Tân | : Question5. What is Coinversation’s development roadmap this year? @paulwan4828

Paul : Q3-Q4: 1. Continue to expand the team of technical staff. 2. Product: Complete all development of the fragmentation of DEX and NFT in the underlying protocol of Coinversation Dapp, and use Kaco as a product test and online test. At the same time, Kaco will cross-chain deployment from the existing BSC to Kusama. In addition, we will plan whether to participate in the Coinversation slot auction based on the overall progress of the project.

Done

Bà Tân | : End of session 1

Bà Tân | : We will move on to session 2

Bà Tân | : Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1439099002553733122).

Bà Tân | : Question1. What do you think about the boom of the NFT + DeFi association that is causing so much interest in the world? How does Your project take advantage of and exploit this reality? @AlexanderDao3 (https://twitter.com/AlexanderDao3)

Paul : This year is the first year of the blockchain NFT outbreak, and this track is indeed a high-quality path that can quickly get a lot of traffic. For example, transfer the artwork to NFT in this earliest spring, and the recently popular NFT blind box, a short burst of great traffic and attention. So you can see that the growth rate of the NFT track has exceeded the expectations of many people.

But behind the heat, we found after a lot of research that the biggest problem with non-homogeneous tokens (NFT) is the lack of liquidity. This is the most fundamental issue of whether any transaction can extend the life cycle and form a flow circulation cycle.

If we split the NFT into a bunch of pieces and put them on the trading platform, we can effectively create liquidity on the pricing NFT through the market. So far, we have seen the rise of some NFT fragmentation protocols, such as NIFTEX and Unicly.

But most of these projects are deployed on the Ethereum. How can NFT on the BSC create more liquidity? So Kaco also extends the NFT fragmentation module. At the same time, from the synthetic assets that we originally positioned throughout the product line, NFT fragmentation and liquidity creation will also become the most interesting and imaginative part of the synthetic asset module.

Done

Bà Tân | : Question2. Actual and live prices of synthetic assets are difficult to determine and that is why oracle plays a big role in synthetic asset platform. For your market and platform, what oracle service provider are you using? Does Coinversation uses third-party oracle providers? @Lidiamga (https://twitter.com/Lidiamga)

Paul : Yes, we will

Currently we will integrate Chainlink Price Feeds as our oracle solution for accurate price data on all assets used within the protocol. By integrating Chainlink’s price reference data, we can ensure synthetic assets are issued, traded, and redeemed according to the current fair market prices.

The integration will be made possible in an accelerated manner thanks to the released Substrate oracle pallet, which enables any Polkadot ecosystem project to easily obtain access to Chainlink Price Feeds.

Done

Bà Tân | : Question3. The current Polkadot ecosystem is growing strongly. Along with that is the second round of kusama auctions going on in full swing. I want to know if Coinversation will participate in Kusama or Polkadot auction? @stewie22k1 (https://twitter.com/stewie22k1)

Paul : We have been paying close attention to the auction. Coinversation will not consider participating in the Kusama slot auction in the near future. But the Polkadot parachain auction has been in our plans, and we will announce our parachain auction plan at an appropriate time.

As I have always said before, Kaco is the testing ground for Coinversation, and we hope to verify the functionality and attractiveness of all the modules planned for the Coinversation protocol layer through Kaco to the ground. This will lay a good foundation for the entire ecological product path in the later period.

Done

Bà Tân | : Question4. Collaborations and partnerships are some of the most important cornerstones to help improve adoption. Can you tell us about your current partners, plans for partnerships and what everybody stands to gain from these partnerships? @lucasta_maris (https://twitter.com/lucasta_maris)

Paul : We are now partners with 11 projects so far. I will separate them into different aspects. In the partnership of smart contract, there are Astar(previous Plasm), Patract Labs, Mathchain and Clover.

In the oracle, there is Chainlink.

In the decentralized cloud storage, there are Crust and Stratos.

In the insurance, there is Tidal.

In the partnership of DAO, there is Dora factory.

From Kaco Finance, the project galaxy and treasureland are also our partners in the NFT market. There are many partnerships coming soon. Stay tuned to our social media for the latest update.

I will show our media link at the end of AMA

Done

Bà Tân | : Question5. What gives the CTO value ? How does $CTO (https://twitter.com/search?q=%2524CTO&src=cashtag_click) work as a utility token for the network and how does it benefit both the network and the owner in the long term. Is there any reward mechanism for holding the tokens? @Dumblele1 (https://twitter.com/Dumblele1)

Paul : The core of Coinversation’s product is in synthetic assets, so Coinversation is always a synthetic asset protocol in terms of positioning. We do DEX to pave the way for synthetic assets and NFT fragmentation to build consensus and asset base.

Our in-depth cooperation with Astar in August is also the beginning of our official landing to promote the deployment of Dapp on the Polkadot ecological chain. As early as May, we already reached cooperation with Astar and advanced the deployment test of the Wasm contract. We plan to deploy Kaco Finance on Astar’s Shiden Network with this cooperation at the end of September. After the deployment is completed, Kaco will become the first DEX in Shiden to provide liquidity mining and the first DEX to participate in Dappstaking on Shiden.

Everyone who know about Polkadot Ecology should all know that at this stage, Polkadot Ecology’s asset trading exports are relatively small. The deployment of Kaco on Shiden will give the huge users who hold Polkadot assets such as SDN and KSM an ecological place to trade. The Astar team will also vigorously promote users to enter Kaco trading and participate in liquidity mining. This is a three-win solution for both parties to the project and ecological users. You can look forward to Kaco’s Dapp on the Shiden parachain.

After the deployment, we will spend some time doing basic operations and improvement work. After that, we will immediately push forward building a cross-chain bridge with the Astar team, which will truly realize the interoperability of Kaco’s assets on BSC and Kusama. Kaco will become the first Dapp to introduce BSC assets into the Kusama ecosystem if it goes well.

For the CTO holders, they will benefit from KACO and Coinversation future development. From an operational point of view, after the CTO goes online, it will prioritize supporting the establishment of liquidity pools on Kaco. In addition, if Coinversation subsequently participates in the Polkadot auction, KAC will also serve as an incentive token to support the Coinversation to join auction, and Kaco will also run for the verification node of Coinversation.

Regarding the reward mechanism, please keep focused on our twitter and telegram for the latest update.

Done

Bà Tân | : Alright, Session 2 has finished perfectly. Appreciate your detailed responses @paulwan4828 😃

Bà Tân | : Congratulations to the winners of session 3.

@AlexanderDao3 (https://twitter.com/AlexanderDao3)

@Lidiamga (https://twitter.com/Lidiamga)

@stewie22k1 (https://twitter.com/stewie22k1)

@lucasta_maris (https://twitter.com/lucasta_maris)

@Dumblele1 (https://twitter.com/Dumblele1)

Bà Tân | : End of session 2

Bà Tân | : We’ll move on to session 3

Bà Tân | : Sessions 3: The conversation will open to the community questions and the best questions will be selected.

Bà Tân | : Requirements:

🗣Im Community (https://t.me/imcommunityitw)

🗣Coinversation & KACO (https://t.me/coinversationofficial)

🗣Coinversation official channel (https://t.me/coinversation_announce)

🗣Twitter Coinversation (https://twitter.com/Coinversation_)

👉More information about Coinversation :

🗣Website (http://coinversation.io/)

Bà Tân | : Don’t forget to join the group https://t.me/coinversationofficial

Bà Tân | : Thanks for the questions from the community.

Bà Tân | : Now let’s give our dear guest @paulwan4828 some time to go through them.

Bà Tân | : @paulwan4828 Pick the 5 best questions and answer it for session 3.

Paul : Sure

Paul : too many question

Paul : I need some time to go through them

Q1. Do you have a Token Burning plan to increase Token value and attract Investors to invest?

Paul : Yeah, kaco will have. Details to be announced soon. Or you can check kaco doc for more detailss

https://coinversationprotocol.gitbook.io/kaco-doc/

Q2. I am interested in your project? Where can I buy your tokens right now? Is the price attractive to buyers?

Paul : Currently, you can buy $kac on kaco website

https://www.kaco.finance/

$CTO has not listed on any exchange yet. If you are interested in $CTO, you can follow our twitter and telegram for the latest update

Q3. Can you tell us about your team members? are they qualified and professional in their fields? what are the recruiting qualifications for team members for your extraordinary project? thank you….Is your project listed on coingecko and coinmarketcap or not?

Paul : The core members of the team come from tier-1 technology companies such as Alibaba, Ant Financial, Google, etc., including engineers with more than ten years of development experience and early Ethereum developers.

Q4. What is the difference between Coinversation and the DEX of Zenlink and Acala?

Paul : As I mentioned before, the core of Coinversation’s product is in synthetic assets, so Coinversation is always a synthetic asset protocol in terms of positioning. We do DEX to pave the way for synthetic assets and NFT fragmentation to build consensus and asset base. So essentially, Coinversation is different from Zenlink or Acala. Our focus is on synthetic assets. Zenlink focuses on the underlying protocol of cross-chain DEX. And Acala is doing Defi aggregation platform. So everyone’s respective direction and positioning are quite different.

Q5. Hi Paul，Can you briefly talk about the basic design of Kaco’s fragmentation?

Paul : We believe that the potential of this piece is huge! Kaco’s vision is to make NFT holders on the BSC willing to put less rare NFTs into the collectible pool to obtain collectible redemption pools so that they can obtain other more rare NFTs. In the end, all the collectibles left in the collectible pool are the collectibles with the lowest rarity and lowest price. Thus, the market can finally get a relatively fair floor price for the collectible, thus releasing the value and liquidity that NFTs on the BSC should have.

Kaco’s Fragmentation is an protocol that can merge, divide, and trade NFTs, transforming NFT works into liquid tradable assets. In this protocol, users can use Kaco, Pancake, Alpaca, and other NFTs and fragments into NFT100 tokens, buy and sell NFT100 tokens through AMM, and add liquidity and get $KAC rewards.

Done

Bà Tân | : Congratulations to the winners of session 3.

@vilamna

@elisstra

@tamcosuynghi

@Irene66666

@Coling713

Bà Tân | : Thanks for the useful information from @paulwan4828

Bà Tân | : End of session 3

Bà Tân | : For questions that have not been answered today, you can send them to @coinversationofficial for answers.

Paul : stay tuned with our social media

Bà Tân | : IM Community, if you would like to know more about Coinversation ! here are some useful links for you:

Official Website: http://coinversation.io

Twitter: https://twitter.com/Coinversation_

Telegram: https://t.me/coinversationofficial

https://t.me/coinversation_announce

Github: https://github.com/Coinversation

Medium: https://coinversationofficial.medium.com

Bà Tân | : Allright, I declare the Im Community AMA with Coinversation has ended.

Thanks to @paulwan4828 | Coinversation joined us and provided us with Coinversation information, we hope that this knowledge makes us understand more about http://coinversation.io (http://coinversation.io/)

To the members, thank you for following this event to the end. winners will be announced soon.