05 Oct 202105:36
AMY Finance AMA Recap
Myko (CryptoDiffer)Hello, everyone!😁
We are glad to meet here:
Amy, Core Contributor
Cattery Amythank you awesome CryptoDiffer for organising this event
i am ur big fans !!!
Myko (CryptoDiffer)Welcome Amy, thank you for taking your time today!
Cattery Amythank you @mykocryptodiffer
Myko (CryptoDiffer)glad to hear
okay, let's start with introductory questions
Q1: Can you introduce yourself to our community?
Cattery Amysure, this is Amy, one of core in AmyFi, focusing on the product side, and we hope to support more defi user to get higher capital efficiency
Myko (CryptoDiffer)Thanks for an answer! now let's come to next one
Q2: Can you introduce Amy Finance to us?
Cattery AmyAmy Finance is a Layer 2 based & LP-friendly Lending aggregator .
It's a fair launch project without a presale and private investors. As a community-driven project, Amy Finance helps users to earn safe and high yields.
By staking assets into the "assembly pool", each LP/Staker will receive the interests generated from lending and leverage trading without any loss. Moreover, users can borrow assets from the pool and conduct margin trading in one app.
The transaction fee will be extremely low owing to the L2 native design. The design of Amy Finance can lift the revenue and maintain the same level of fund security as the classic lending protocols do.
so this is basically a Lending Aggregator + Margin trading tool for defi users, and we focusing on "Layer2"
Now let's take our final question of introductory part
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?
Cattery AmyWe are building a security lending aggregator now, doing a lot of test, which can really help users to maximizethe capital efficiency.
btw, we are going to IDO recently, unfortunately we postponed the crowdpooling(DODO) today cause some tech issues, but we will going to be tradable soon on Arbitrum.
we will complete the farming system in SEP and building a better settlement system for this protocols coming couple of weeks.
we will onboard more and more scenarios into our protocols, I think that will be amazing to the defi community, but we just focusing on make our app works steady.
you know thats not easy to build on Arbitrum, when we don't have enough tools atm, we will trying to make app works well and onboarding more TVL and defi users.
Cryptodiffer CommunityCan You give us an overview about IQ Mining?
What is the Criteria & Process of Joining it?
Cattery Amygreat question, thank you, IQ mining is a system we want to create for community, we all know theres always the big whales in lending protocols, so we design a system for some small or medium user, they can get loot box from event and staking in the protocols, each golden cat has its own IQ value, which is mining power. ppl can trade this nft on the market.
user can mine $amy from the IQ mining, so basically its a way to bring more users into the app!!
Cryptodiffer CommunityI could see that Amy Finance gets liquidity from DoDoEx, but is this liquidity really enough? Besides, the only alternative was to obtain the liquidity of this platform? or was it really the most beneficial of all the options?
Cattery Amythanks for this great quesiton, we choose DODO is because they have complete API, and PMM for the price, most of times they can get us better price than AMM do, but we still open for any solution to provide us liquidity, welcome if u have better suggestions!! thank you
Cryptodiffer CommunityCan someone explain me in "easy words" whats the goal of this project, what is it doing, and why is this unique. And what people is the project aiming for
Cattery AmyGreat lending aggregator.
Cryptodiffer CommunityHow does an assembly pool differ from other pool types? Can you tell us about the advantages of margin trading for those who contribute to the pool with their assets at AMY Finance? What is the benefit of an assembly repository?
Cattery Amygreat questions, assembly pool is so much diff with classic lending protocol, in assembly pool, we can provide more lending scenarios at the same time, using same pool, like margin trading is one of our killer app, and we will release more fantastic feature in the future!!!
Cryptodiffer CommunityAs Your Crowdpooling on DODO is postponed & Now Arbitrum is left, Do You think any kind of Pressure is onnthe Team right now?
Cattery AmyA LOT OF presures.... and for this crowdpooling, we won't get any token from this event, this fund will be the liquidity fund forever till our decentralised governance mechanism say they want to change. so we just want to make crowdpooling done soon and go back to create some real product for users!!!!!
Cryptodiffer Community💎💎💎What is the advantage for user that do staking in assembly pool?
Is there any special benefit offered in the platform for the stakers?
Cattery Amyyes, when u exceed the numbers we set, you can get Golden Cat NFT airdrop, you can sell this cat(🐱 ) or put her to NFT IQ mining pool. so you can get extra reward!!!!!!! that's so cute, you have to try this!!!
Cryptodiffer CommunityIn your documentation I didn't seem to find much information about Amy Finance's plans with these NFT's. Can you tell us about this please? Will each of the cats on the platform work as NFT's or are they only non-tradeable or non-negotiable attributes? Clarify this for us please.
Cattery Amyyou will receive NFT airdrop if you are a staker, than you can do IQ mining, check in our doc to have more details!! thanks for the question
Cryptodiffer CommunityMy dear AMY,I don't see any hype regarding AMY Finance at the moment,nor its backed by investors.
How can we believe it's safe to invest in AMY?
Also why is your team anonymous?
Cattery Amyif u have INVESTORS too early, you will lost some passion to make a real app, so we want to use our own money to survive till we are the best capital efficiency lending protocol, than we will go fund raising, so i can see your thought and really thank your opinion and many supports!!!!!
Cryptodiffer CommunityI just saw read now that Amy Finance CrowdPooling on
@BreederDodo would not proceed as planned. I was really looking forward to the crowd pooling. Can you tell us why it is not proceeding as scheduled ?
Cattery Amytheres some problems with the graph on arbitrum, we are also waiting now
Cryptodiffer CommunityWhat is the " Amy 3x Housework program" and how can I join this housework program. What is the reward for early stakers on Amy Finance ?
Cattery Amyjust more $AMY u can get than usual, for early adopters
Cryptodiffer CommunityMany problems have actually occurred because of poor protocol design and false risk assessment. Also, the problem of FLASH LOANS are recently looming large. I believe that the improvement of the capital utilization rate should not be accomplished at the expense of capital security. So how can Amy Finance fix this lingering issues?
Cattery Amythanks for this Security question, we build a base layer lending protocol, so basically we have less problem in flashloans, but we have several scenarios for using the same pool, that also cause some security issue, so we find Peckshield, they have handle over 10 lending protocols before, and we will try our best in secure users asset
Cryptodiffer CommunityReally why build your platform in Layer 2? is it simply to reduce transaction fees? Or in addition to this, will it offer a series of benefits that will allow its margin trading and loans to scale?
Cattery Amywhen u face a black dawn event, the eth can't be trust then, u need a faster and bigger block blockchain for settlement and many many operations, so it's not onl\y the fees issue, thanks for your GREAT question!!!!!!!
Cryptodiffer Community1. What benefits does Amy Finance derives from integrating with Chainlink price feeds on Arbitrum?
2. Also, I've seen that you've done several airdrops in the past, it's so sad that I'm just getting to know about Amy Finance through this AMA, Hope I'm not too late to the party? What are some of the exciting packages you've reserved for new comers just joining your platform?
Cattery Amythanks for the questions,
1. Chainlink help us to determine when and how to settlement, its extremely important for us
2. never Too late, we have a big event tonight for MOON festival, hope u Like it
get full moon cat here
Cryptodiffer CommunityDoes Amy Finance really provide the solution to any existing problem in DeFi? If not, what is the ultimate goal of your project really? will it simpl greater rewards to its users?
Cattery Amyfirst, we under security audit, we are an non-custody protocol, we can't rug,
second, build on layer2 is extremely security choice, first, the security is made by miner in Eth miner network, not by super node like EOS, and when the price go pump and down heavily, Arbitrum(Layer2) can support us more trustable blockchain, no more dangerous gas fee and delay!!!
@makscryptodiffer almost ✅
Cryptodiffer Community📍How is the total IQ of our Golden Cats determined? Can we increase cats' IQ? How do we get higher IQ cats by mining?
📍How is the IQ of golden cats measured?
Cattery Amysuper question, i like u, yes You can assembly these cats with $AMY, and a secret we haven't announce yet is we will have smart pool, means you have to own three smart cats, IQ over 1000+ can participate the smart pool IQ mining, so if you focusing on the assemble, you can find gold some day!!
Cryptodiffer CommunityYou Partnered with Celer Network, How is this partnership helpful to the Project?
Cattery AmyCeler cBridge has better experience for transfering asset by blockchain to blockchain, faster and maybe cheaper, and we focusing on Layer2, so we need Celer for supporting us to migrate more asset to Arbitrum!!
Cryptodiffer CommunityOn You Dex Platform, Why did You decided to choose DoDoex for the Source of Liquidity?
Cattery Amythey have complete API for other defi, so thats why we choose this atm
Cryptodiffer Community🌑 What is the number of loot boxes awarded per user by staking assets or participating in certain events in AMY Finance and how do I calculate the APY return I can earn by staking?
🌑 I read on AMY that Every Golden Cat has a unique ID attribute. What is the advantage of identity features?
Cattery Amyeach pool has its lootbox, you stake asset for the loot box week by week, when you get this cats, you can do IQ mining without any cost, and a secret is, three cats with same style can bring you some suprise!!!
you can check IQ mining in the doc, and more feature is coming!!!
Myko (CryptoDiffer)Thanks for the ama
Cattery Amywhat an awesome AMA
love all participants, remember to take your FULL MOON cats