Review of DFBTC Community AMA Q&A

On June 7th, at 1:00 UTC, DFBTC held a Ask Me Anything question-and-answer activity in the Telegram community, which lasted for one and a half hours.

Olivia, co-founder of DFBTC, was a guest at this community Q&A event. During the Q&A, Olivia patiently answered the questions raised by the community fans, and at the end of the event gave the fans a bonus red envelope, which further aroused the enthusiasm of the community users. The following is the main content of this question and answer activity:

ask:DFBTC economic model parameters

Our DFBTC economic model is mainly divided into three sections. As we all know, our previous information has explained that DFBTC is BTC cross-chain to other mains to increase liquidity and DEFI investment diversity. In our version V1, we cross chain to Ethereum mains, and we provide diverse DEFI investment options for the community and users. First, the user can choose to manufacture DFBTC By Staking, we are the first DAPP in the whole web to anchor a digital asset with double interest, and the first 100% decentralized anchored digital asset in the whole web.

ask:What are the three sections?

The first section is Staking

He can double interest, the user can get BTC and AOM at the same time.

The second section is the guarantor node

Guarantor node, with the corresponding mortgage assets custody BTC, can get the custody fee, as well as the mortgage assets income.

The third section is Lending

Users can choose deposit business and loan business, such as deposit one kind of high quality asset can earn interest, need other assets can directly lend other assets.

And we’re going to be uploading Swap in version V1

Direct support for BTC-DFBTC-ETH and other high-quality crypto assets exchange

The details will be explained later in the detailed documentation

ask:What is the role of the custodian node?

The storage node is the main component of DFBTC. Many of the assets are held by an institution that lacks transparency and openness. We chose a custodian node for Bitcoin, rather than an institution, which is held by a number of nodes that the community and users themselves apply to participate in, making it more transparent and open to true decentralization.

ask:What is the calculation formula of the rate of return?

We adopt the new POS algorithm. This is a lot of time we spent, but it will definitely make everyone very satisfied. A new way of calculating warrants, specific details will be explained in the public document

ask:So what time do we go online?

DAPP will be launched in about mid-June, we still need a lot of work to do, so the V1 version will be available this month.

ask:Some users asked whether UNIswap liquidity can increase the reward mechanism?

Okay, we will discuss this issue and give back the results to the community as soon as possible.

Let’s go to the open question and answer session, please,

ask:Does pledge mining require a complete BTC?

NO staking does not need to complete Bitcoin only needs to be greater than 0.01

ask:How is the custody of BTC?

He has countless custodian nodes to keep, and the custodian nodes come from the community

ask:pledge to earn interest at any time I can?

Yes, the interest is generated at any time and obtained at any time.

ask:When will it be promoted and put on the central exchange?

We will launch a centralized exchange after the DAPP application reaches a reasonable state. In fact, the profit is not only on the centralized exchange. I believe you can see this.

ask:Does pledge mining require AOM?

Pledge mining does not require AOM, custodian node requires AOM

ask:I don’t own bitcoin. Can I pledge my other assets?

Yes, you can choose any asset. It has a deposit and lending business, and it also allows you to obtain corresponding encrypted assets.

ask:In the current market situation for our DFBTC project, what is our advantage and what is our core competitiveness?

Our advantage lies in the brand-new Defi model and the huge financial model. It covers almost all centralized finance and achieves transparent, fair and just community governance. Of course, these perfect models require you to take time to observe slowly, and they will be large enough in the future.

ask:Can I get the interest of Bitcoin by pledging Bitcoin? and also get AOM? Will I get the same interest whether I pledge Bitcoin or Ethereum?

Yes, staking Bitcoin is a deposit business. When a user uses Bitcoin, he needs to pay you interest and you will also get aom

ask:As for the AOM of DFBTC, can its value be reflected by benchmarking the price of BTC

The positioning of AOM lies in community governance and equity tokens. It is not used to benchmark Bitcoin.

ask:At present, the promotion is not strong. AOM trading has no depth. When DAPP goes online, the rate of return is not high. As a result, few people are willing to pledge for mining. Do you think about this?

The lack of depth in AOM transactions is because there is very little liquidity, which will offset this problem after the DAPP is launched. The factor of return comes from the algorithm. We have considered the process from less to more. It is only temporary. At present, we have many communications. The community partners are all waiting for DAPP, I believe these will not be a problem at that time, because the early AOM is just a device east link that has not really started yet.

ask:How many people are in your team at present? Do you have any cooperation plans with other teams and organizations?

Our team as a whole is about 20 people, almost all of them are senior developers related to blockchain, and many of them contributed to the construction of networks such as ETH.

I believe everyone should see the value of Defi, his role, and the value to be realized in the future

ask:AOM is now available for purchase on Uniswap. If there is no AOM, it can only be obtained through mining, in addition to trading with others?

Currently yes. When the DAPP is launched, he will have more financial models involved.

ask:What are the advantages compared to AAVE WBTC?

First of all, we have the underlying logic that Bitcoin cross-chain has increased the liquidity of BTC in Defi. Compared with anchor currencies such as WBTC, they are relatively centralized. Institutions manage users Bitcoin. We use community nodes to keep Bitcoin and deposit and lend. , We use the double guarantee interest calculation formula to ensure the user’s profit, which will be explained in detail in the document

ask:Now I see that there is a lock period for mining? Do you still offer the products without lock up period? For example, save today and take it the day after tomorrow.

Yes, it is divided into many types. There are lock-up periods, and the periods are also flexible and not fixed.

There is no lock-up period. It is similar to banking business. It is not limited to only lock-up. It also allocates multiple models

ask:So I can assume that the value of AOM will skyrocket along with the price of BTC.

AOM can also help users who hold BTC to offset the decline. This is also one of his excellent ones. Suppose you have 1 BTC when it drops by 30% in a year, you can get a double yield of 40%. This is the official charm of Defi.

ask:That I want to go other chain trades, but I do not want to replace my BTC again, how to do?

You can then pledge DFBTC to borrow any high-quality digital asset.

The above is the entire content of this AMA Q&A activity in the DFBTC community. More exciting activities are in preparation, so stay tuned~

About DFBTC

DFBTC aims to solve the huge volatility risk of BTC and the lack of liquidity of cross-chain high-quality assets by the method of issuing standard ERC2.0 digital assets, adding risk resistant models and yielding to resist risks, and transfer high-quality BTC assets to Ethereum across the chain. DFBTC adopts 1:10000 ratio pledge casting and increase BTC cross-chain applications through DFBTC to make high-quality encrypted assets more efficient.

Contact DFBTC Network

Telegram | Medium | Official Website | Email | Twitter

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