Solv Finance x Im Community AMA Recap
đ TELEGRAM AMA: Im Community & Solv Finance đ
â° AMA Timing : 03 May 2021 l 01:00 PM UTC l 20:00 GMT+7
Venue For AMA : https://t.me/imcommunityitw
đ Reward Pool 200 USDT
Bà Tân | : Welcome @RyanChow778 from Solv Finance
Ryan C : hah letâs do it
Bà Tân | : Welcome everyone. Today Im Community will host AMA with Solv Finance.
Bà Tân | : Today our guest is: @RyanChow778 from Solv Finance .
Bà Tân | : Please introduce yourself a bit: @RyanChow778
Ryan C : Hey guys, Iâm Ryan Chow, the co-founder of SOLV. Iâm responsible for DeFi market research and BD in the team.
First, I shall provide you some basic information about our team. We are a project in China, with three founding members all renowned experts in the field of blockchain. You can check us out on Baidu.
Here are the other co-foundersâ bio
Yan Meng, Co-founder. Yan is a renowned opinion leader, blockchain evangelist, educator, and consulting expert in the Chinese blockchain community. He has provided education and consulting services to many Fortune 500 companies including Tencent, Alibaba, Mercedes China, Lenovo, FAW, etc. Yan was the senior manager at Corporate Communications of IBM Greater China Group.
Will Wang, Co-founder. Will is an experienced architect in FinTech and Blockchain. He led the development of the worldâs largest distributed core-banking accounting system at Postal Savings Bank of China and delivered a few successful Blockchain solutions covering supply chain finance.
Done
BĂ Tân | : Thanks for the detailed introduction đ
Ryan C : three of us
BĂ Tân | : Todayâs 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 Solv Finance
Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1388681194410188800).
Sessions 3: The conversation will open to the community questions and the 5 best questions will be selected.
BĂ Tân | : Rules to follow AMA : ⤾ď¸
âŤď¸ Join : Telegram group SokuSwap (https://t.me/sokuswap) , SokuSwap Announcements (https://t.me/SokuSwapAnn) and IM Community (https://t.me/imcommunityitw) , Channel Im community (https://t.me/imcommunityit)
âŤď¸Follow: Twitter Soku Swap (https://twitter.com/SokuSwap) and IM Community (https://twitter.com/IM_Communityitw)
Web & Community:
đhttps://www.sokuswap.finance/
Bà Tân | : Start session 1 AMA @RyanChow778
Bà Tân | : Question1. Can you briefly describe what is Solv Finance?
Ryan C : Np
The Solv Finance is a basic protocol that aims that introducing financial NFTs assets into the DeFi world.
We firmly believe that Financial NFTs(empowered by vNFT) can become a new kind of asset in defi, and their scale can mount up that of fungible asset(empowered by ERC-20) and non-fungible asset(empowered by ERC-721).
So, Solv is aiming at building the infrastructure for issuing and trading Financial NFTs.
Perhaps you are not familiar with financial NFTs yet. Here I shall not make a detailed explanation, but I will explain what we have applied as our first Financial NFTs â â Investment certificate. After this, you will understand better about financial NFTs.
Done
Bà Tân | : Question2. What products are the Solv Finance team developing?
Ryan C : yes, now let me introduce investment certificate, our first Financial NFTs application
First, our beta version is now online, testnet.solv.finance. You can check this out during my introduction.
Our product, the investment certificate, is using NFT to present the lock-up allocation of projects, as to release the liquidity of the allocation, providing all users more opportunities to participate in primarary markets.
Every participating party can deposit its token into our contract, and set the lockup period and releasing mode accordingly.
The contract will automatically send back a certificate, which is in the form of NFT, with parameters presenting the rights of the lock-up allocation
such as the one below:
At present, we have invited ten renowned international projects releasing their IC on our platform.
In other words, users can purchase early allocations of ten top projects and participate in primarary markets in the near future.
About other details, you are all welcome to raise your questions or read our intoduction or try out our products. There might be airdrops for testnet users recently:
You can read this article for more details:)
Done
Bà Tân | : Question3. Can you update to the community the latest news and hot events of Solv Finance in the coming time?
Ryan C : Sure.
The milestones are as follow:
1. Last December, we designed this new standard vNFT according financial notes, and based on this standard we created a number of innovative products. On the strategic level, we chose to promote investment certificate, which has proven to be a right decision, because it is a actual need among projects and users.
2.In February, we introduced our product Vision to our investors, and received their acknowledgement and investment, including IOSG\Axia8\Hashed\ Spartan group\Krypital\GBV\Maple Leaf.
3.On Apri 27th, we officially launched out investment certificate product. Now, the smart contract has gone through audit and ready to go.
4.In the second half of May we will open up our product on the official site, and start a market event releasing the ten projects. Users will have the opportunity to purchase early allocations of renowned projects on our platform.
5.In the second after of this year, we will promote a series of more interesting exchange modes, such as installment and group purchase.
6.Next year, we will promote a brand new exchange model for Financial NFTs. It will be devoted to exchanging financial NFTs and providing better experience.
Done
Bà Tân | : Question4. What is Solv Finance plans for this year?
Ryan C : Yes, i just answered this question in my last question. let me wrapp it up:
1. New features, such as Installment purchasing and group purchasing for NFTs.
2. More powerful investors. Now we are negotiating with some brand name institutions, and asking for their investment. we would close a new fundraising round with some quality investors in this 2 months.
3. More quality project partners, we would invite a bunch of quality projects to issue investment certificate on our protocol.
doneâ
Bà Tân | : End of session 1
Bà Tân | : We will move on to session 2
Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1388681194410188800).
BĂ Tân | : Rules to follow AMA : ⤾ď¸
âŤď¸ Join : Telegram group SokuSwap (https://t.me/sokuswap) , SokuSwap Announcements (https://t.me/SokuSwapAnn) and IM Community (https://t.me/imcommunityitw) , Channel Im community (https://t.me/imcommunityit)
âŤď¸Follow: Twitter Soku Swap (https://twitter.com/SokuSwap) and IM Community (https://twitter.com/IM_Communityitw)
Web & Community:
đhttps://www.sokuswap.finance/
Bà Tân | : Question1. One of the most interesting solutions of Solv Finance is undoubtedly the new vNFT standard. Could you please detail what are the most important features of this standard and tell us what problems it solves from the ones we already know?
Ryan C : Thanks for the question.
About vNFT, you can check out a more detailed explanation below:
https://www.youtube.com/watch?v=hLZfy9GnEgM
We believe the future DeFi market will include three types of assets: ERC-20, a fungible asset with low friction and large volume of business; ERC-721, a non-fungible asset with high friction, thus users can only buy one at a time, with significant differences within the assets.
The third is our Financial NFTs, a semi-fungible asset, such as financial notes in traditional finance.
Under some circumstances, these certificate assets can be splitted, while in some situations they can be merged.
so vNFT is designed for this kind of assets. It can support splitting and merging feature.
vNFT token allow holders to access the fungibility aspects of unique information, while being able to be split up and combined like ERC-20.
Done
Bà Tân | : Question2. DeFi, Staking and Yield Farming are hot topics right now in our Crypto Space, My question is, did you make this project only for the short term because of these hot topics? Do you have a long term plan for this project?
Ryan C : Thatâs a good question.
We understand that this is a question many wants to ask us, and a point that we want to make for you guys.
We are serious about our work on DeFi, and we are devotes to creating innovative products.
In order to achieve our goal, we have placed efforts into coming up with the newest products, also to make our investors trust in us.
Theses partners mentioned above have high credits themselves in the space and will support what i gave just introduced.
They have great reputation, such as dodo, bounce, mask, and parsiq. We are grateful for their trust and will work to return the favor.
As for our long-term plan, just as what i introduced, the asset in the defi world is mainly made up of ERC-20 and ERC-721.
However, from the perspective of traditional finance, financial notes are mostly semi-fungible, thus we develop this vNFT standard, as to provide a carrier for these assets.
For this, we have published an article six months ago and gained wide attention in China. The article was translated into English, and the link is here below:
https://medium.com/unizon/what-are-digital-assets-7ca3485d4032
It is not a small task to introduce a new asset into the defi world.
This is a task that requires lots of efforts, and this is exactly what we plan to do.
Maybe some will doubt whether we can realize this goal.
About this, maybe you can follow our first product, investment certificate. We will use the valie of this case to demonstrate the value of financial NFTs.
In the following five years, we will keep promoting Financial NFTs products and meet the needs of the users.
Done
Bà Tân | : Question3. Solv Finance is characterized by leading the NFT financial market for DeFi. But how exactly do they do it? What are the advantages or benefits of bringing this NFT market to DeFi? Other NFT market projects.
Ryan C : I have explained the first question above, so now i shall focus on the next two. The reason for our combination of NFT and defi comes from our market research result.
I am a market researcher.
and found out that there are currently two trends in the market:
1.defi projects are using nft to transform themselves, such as UNi V3, which uses ERC-721 as LP token to achieve flexibility. After univ3 launching on May 5th, there will be more similar projects come out.
2. More and more NFT projects are applying splitting solution, as well as lending and other projects, as a response to NFT entering DeFi.
Cuz as an asset, NFT requires more financial service. So NFT needs DeFi infrastructure.
We believe a new standard would help the combination of DeFi and NFT. This is why we created vNFT. As its initial proposal, this will become a new standard like ERC-721. Anyone would be able to use it just like ERC-721.
Done
BĂ Tân | : Question4. Can you list 1â3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Ryan C : This is another great question. Speaking about investment certificate, it has a few very outstanding functions.
1.NFT should be freely divided and merged when it represents lock-up allocations. This is necessary for flexible exchange and management.
2.Our standard is compatible with that of ERC-721, so the infrastructures that support ERC-721 can support our IC.
For example, Opensea can provide a variety of exchange functions, NFTfi can provide lending functions, and NFTX can provide ETF service for our IC. Our product has a very high level of compatibility with the whole ecology.
3.Next month, we will come up with group purchasing and instalment purchasing. These functions will be the first to be promoted in DeFi space.
Done
Bà Tân | : Question5. Partnership is like a supplement where the combined effect is beyond the individual level. Can you name some of your recent partnerships that can help your project? Is there any partnership that will take place in the near future? Can you tell us with whom?
Ryan C : Yes, our stratigic investors including IOSG, Spartan group, Axia8, Hashed, Krypital Group, GBV, and Maple leaf.
They are all quality investors in the world.
For projects partners, cause we are a influencial team in China, so weâve got almost all of the Chinsese project onboard. Including bounce\dodo\fortube\mask\dforce and etc.
For western projects, we would coopearate with Chainlink\the Graph\Parsiq\NFTX\NFTfi and etc.
Done
Bà Tân | : End of session 2
BĂ Tân | : Weâll move on to session 3
Sessions 3: The conversation will open to the community questions and the best questions will be selected.
đJĹhn Lđ : Go go
BĂ Tân | : Those who havenât joined @SolvFinance group will not be eligible for AMA rewards, make sure you did.
đJĹhn Lđ : I really like this segment
Ryan C : wow excited about it:)
Bà Tân | : Countdown
đJĹhn Lđ : Awesome
â¤ď¸â¤ď¸â¤ď¸ thank you guys
Thanks for the questions from the community
Bà Tân | : @RyanChow778 Pick the 5 best questions and answer it for session 3.
Q1. What is your strategy for building a strong community? Do you agree that the power of community will lead your project to develop globally? What services do you provide to the community?
Ryan C : In terms of community building, we have a strong community manager to be responsible for it. and we are familiar with making the rules about how to stimulate the community members. So we are emphasizing on this and would pay a lot tokens on it.
Q2. Can you explain to me the concept of a versatile NFT and how Solv Finance uses it to a greater benefit for users and its platform? Are these NFTs like a mix between ERC721 and ERC20? Why do they say it is better than ERC721? And what fees do they have per transaction?
Ryan C : Yes, please try our testnet out. and you will get the point that why vNFT. But let me make a conclusion again here:
1. We have to adopt NFT to represent lock-up allocation, cause ERC-20 can not represent a such rich information about lockup mode+lock-up period+underlying assets.
2. We have to adopt a splittable and mergeable NFT, cause we donât want to sell all of our allocation as always right? so we gotta split it and merge it frequently.
3. So we have to adopt a splittable and mergeable ERC-721, thatâs vNFT.
Q3. What makes you feel confident about the survival & sustainable success of Your project in the near future?While you build your project, do you take into account community feedbacks and demands?
Ryan C : Yes, thanks for your suggestion. Of course we would accept the feedback from the community. For the past 2 month, we are focusing on fundrasing and BD, so our main feedback are from our investors and partners and consultants. But when we launch our product, we would take community feedback as priority. :)
Q4. what are the ways that SolvFinance generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project
Ryan C : Thanks, thatâs a good question. Cause we are focusing on issuing and trading investment certificates. So we would charge 1% transaction fee for each trading on our platform. If you asck me why people trade on our protocol, the answer is there are a lot of quality IC on here. you would come here to chase it:)
Q5. Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and investors to Labs Group and keep them long term?
Ryan C : yes, every project need to be a marketing-driven project finally. Now weâve got a strong BD and marketing team and focus on cooperate with lots of tier 1 projects. At final stage, a lot of investment target will be found out on our protocol because of our marketing. And our recent go to market strategy is that, we would invite 10 excellent projects to issue IC on our protocol thsi month.
Now weâve got dodo \ bounce\ mask\Parsiq and etc.
letâs look forward to it!
Done
Bà Tân | : End of session 3
Bà Tân | : Thanks for the useful information from @RyanChow778
Bà Tân | : For questions that have not been answered today, you can send them to @SolvFinance for answers.
Bà Tân | : Allright, I declare the Im Community AMA with Solv Finance has ended.
Thanks to @RyanChow778 | Solv Finance joined us and provided us with Solv Finance information, we hope that this knowledge makes us understand more about https://solv.finance/
To the members, thank you for following this event to the end. winners will be announced soon.
BĂ Tân | : Todayâs AMA winners please PM @quocnguyen1234 to provide reward information. Thanks everyone .
Ahrix : Thanks @RyanChow778 for joining AMA today. Have a good day
