01 Sep 202007:08
DeHive AMA Recap
Cryptodiffer TeamHello, everyone!😁
We are glad to meet here:
Sergey Onishchenko - Founder of DeHive
Sergey OnishchenkoHello CryptoDiffer chat! I really appreciate to host this AMA with my team here.
Sergey OnishchenkoWe are here to spread the news about our project DeHive - (http://dehive.finance/)!
We are building the most economically sound and market regulated DeFi index, guys. So you can easily wrap your ETH into TIER-1 DeFi tokens represented by one index, hold it or put to yield farming, and wrao vise versa! Fully decentralized.
That's initial point of our product, there are plenty of advantages and additional features that you can read about on our Medium: https://medium.com/dehive
If I may say a few words about myself, so I've started my way in crypto at 2016 by establishing outsource blockchain development company - Blaize Tech (https://blaize.tech/)
Cryptodiffer TeamOur team actually has prepared 3 questions for you to start with!
And I think it is good idea to start with the introduction !
Q1: Could you tell us more about team behind DeHive Finance project?
Sergey Onishchenkoyeap, thank you for your qst, DeHive gathers the best specialist from the market (to my humble opinion 🙂 we are the team of blockchain geeks and devs with more then 5 years of experience on the market. Since we are delivering solutions for such partners as Akropolis, Solana, Remme, Breaker, Celo, Zokyo and many more.
We actaully prepared an ama_article about clue team members behind DeHive Finance:
The idea of developing our own in-house project has been crossing my mind for a while. And now we are here with DeHive. Gathering the right knowledge of market, financial, marketing and development parts.
Cryptodiffer TeamPerfect, thank you for the answer!
Let's move to the 2nd question:
Q2: Why did you decide to build on Ethereum while there are upcoming Polkadot and BSC releases? Also, considering that Ethereum gas fees are remaining quite high?
Sergey OnishchenkoYes, we are aware of all those inconveniences users might experience in terms of using Ethereum for DeFi. Answering the first one, Ethereum now hosts a huge ecosystem of existing DeFis which is very nice in terms of future integration. In addition, Ethereum is a good start point in order to achieve maximum adoption and volume at the beginning.
In terms of gas fees, yeap they are high. Yet, as I said before, we know how to build blockchains and have dealt with a number of DeFis projects so gas fee optimization is achievable goal for us. For instance you can use fixed-size arrays and recommend pooled operation instead of a row of consistent ones. We often use those practices for our clients in Blaize, which helps alot, believe me.
So, inital version will be on Ethereum network, not excluding integration with Binance Smart Chain that planned on our roadmap really soon.
Adoption is a priority.
Cryptodiffer TeamGreat! the last question from us before we move on to the community questions part:
Q3: NFT market is booming and potentially interventing the DeFi sector. What do you think about it and will the protocol handle this innovation coming to DeFi?
Sergey Onishchenkothe NFT market is on top indeed. We have foresaw this is coming, so our roadmap already includes the NFT index development to cover this part of cryptomarket.
Its background is different from the ordinary DeFi tokens, though our protocol bases on the strong economical models which can universaly cover different segment of defi ecosystem, including NFTs. So, you can check our roadmap and see the upcoming NFT index.
Cryptodiffer TeamThank you for such detailed and interesting answers!
It is time to move to the community questions part.
Cryptodiffer CommunityWhy do users need Dihive more than other financial platforms, what will DiHive bring them? How do users purchase the DeHive Metrics on the platform?
Sergey Onishchenkohey, the first and one of the best qst) first of all we are working hard to deliver trully unique protocol - the product that works over uncovered economical piece of cryptomarket - decentralized index of assets. It works as an economical metric of the market (and since there are a lot of defi segments we plan to have the index for each of it). Secondly our index is a tool (or a type of portfolio) which allows you to keep you funds and assets with lowest risks of losses. Actual decentralized low-risk one-click crypto-busket is still missing. As for Index purchase - the smart contracts system will have option to purchase the index with ETH and top stablecoins, and of course wrap the set of tokens into a single index.
Cryptodiffer CommunityQ. I really like the concept of DeHive Index and how it works but I observed that the protocol does not allow for swapping, which makes arbitrage impossible, do you have any plan of working on it to allow swapping?
Sergey OnishchenkoHey, thank you for this qst. First of all, we should understand that any swapping in agbitrage purposes which are the core concept behind any AMM-based protocol are subject to speculation. We do not want to go this way and allow for additional risks like impermanent loss or other risky operations for our users. DeHive is aimed to build a stable, low risky and economically justified product to support the health economic strategy.
Cryptodiffer CommunityI couldn't find any explanation about token burn roadmap. Do you plan to burn any tokens for investor benefits?
Sergey OnishchenkoThank you for question,
We are not planning to burn tokens since we will have hard capped supply regulated by smart contract. Even and especially during the cross-chain operations, which are planned in our roadmap.
Cryptodiffer CommunityQ.What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year ?
Sergey OnishchenkoHi, Hieu, fisrt of all, launch with the fisrt Index is our top priority, of cource 🐝 The next two are alt chain integrations (like BSC or Polkadot) along with NFT index issuing. Of course our ambitious are not limited to those, you can see the whole list of them in our thorough roadmap on the main page
Cryptodiffer Community🍀Dehive aims to help people to gain the maximum profit from the entire DeFi market while holding just one token. How is this token funded? What methods of control of circulation and price do you have to guarantee the expected profit?
Hey Rosana, all indexes are backed by DeFis’ underlines.
For example: COMP, AAVE, CRV
Price of the index will grow organically with these underlines. Diversified. This growth is economically sound through the strong mathematical model in the core of the protocol. The model regulates the set of underlyings and their accurate weights in the proportion.
so that the price is regulated by market itself.
Crypto is classified into:
Can you share how your project has followed and passed this procedures?
Are they still other things you're working on improving?
Sergey Onishchenkoutility token, no security risks here
How Dehive and Peanut partnership will bring better experience in Yield farming mechanism?
Sergey Onishchenkohey, first of all, hope you guys know we will allow staking within the protocol. So, DeHive will use Peanut protocol to align the portfolio after getting the reward from the yield farming. Peanut algorithms will be used to rebalance the amounts of underlying assets from yield which back the additional index for the user.
Cryptodiffer CommunityI'm not saying the idea of creating DeHive Index isn't a good one but I'm just curious is there's actually any difference between DeHive Index and projects like PowerIndex by PowerPool
Sergey OnishchenkoNice qst, we have recently released an ama_article about that 😄https://medium.com/dehive/why-powerpool-is-not-an-index-a83aa8dae3c5
Cryptodiffer CommunityTell us a little bit about security? Have you done an audit of the platform? Are the smart contracts error-free? What are the test results?
Sergey Onishchenkofirstly, we plan to launch the test version in Q2, and ensure several security audits on it. The results will be published and available for the community of course. Btw, Blaize team has an in-house team of smart ctr auditors, so guys your contracts are in safe arms 😁
Cryptodiffer CommunityDHV is a native token of the DeHive platform. What access will the DHV give users to the DeHive ecosystem? And how can the DHV token be acquired?
Sergey Onishchenkohey, we have a detailed tokenomics description available via this link https://medium.com/dehive/dhv-vs-dehive-index-dehive-tokenomics-preliminary-architecture-4c3eedb2ad50
Cryptodiffer CommunityYou mentioned that your Smart contract issues the crypto-index to the user in the amount corresponding to the recalculation of the weights of the selected underlying crypto assets. How are these weights recalculated?
Also, can you explain how your crypto-indexing works?
Sergey Onishchenkonice question! First of all we have partnered with Peanut protocol and will use its algorithms for post-yield portfolio rebalancing (of course together with our heuristics). And we ensure you that we do not balance the price (since we are not AMM) but focused on amounts balancing. Also as for the economical model - we are working hard on our whitepaper preparation, so you can see it in upcoming media releases
hey, tomorrow we will reveal the detailed info about the pre-sale, which will take place at the end of March. About the public sale (so this is the first official announcenement here), we have planned it for the mid of April, so stay tuned 🐝 We do not have a whitelist or any specific restrictions for our community, so your are very welcome
Cryptodiffer CommunityHow could an Index containing tokens in the proportion determined by the economic equation help reduce the risk of price fluctuations, wouldn’t all tokens fluctuate in price later? Then how secure are the user’s assets stored on DeHive?
Sergey OnishchenkoThe index is planned as a tool for risk reduction (think about Dow-Jones or other indexes in "big world finances"). It contains a balanced portfolio of assets with lowest influences one on another. So in general there is no reason for all assets to fluctuate in one manner - dumps of one token is buffered by others in set.
Cryptodiffer CommunityYour website says about passive income so how can I earn passive income using DeHive?
Sergey Onishchenkohey, you can find the link to our tokenomics above, we have explained there, how index holding can help you diversify your portfolio and benefit from the passive income. You can also find more info about the carrent market state and why decentralized index will make it better in this ama_article https://medium.com/dehive/why-buy-one-dehive-index-instead-of-holding-separate-cryptos-6787f8a88f83
Cryptodiffer TeamThank you for your time!
Thank you everyone for your questions!