Idavoll Network AMA Recap

31 Aug 202016:08

AMA

Idavoll Network AMA Recap

Cryptodiffer Team

Hello, everyone!😁

We are glad to meet here:
Alina Aseeva, co-founder (@alinaaisay)
Welcome Alina, thank you for taking your time today!
Our team has prepared 3 questions for you to start with!
Let`s start with the introduction !
Q1: Can you introduce yourself to our community?
@alinaaisay

Alina Aseeva

Hi all
my name is Alina and im russian
I worked for McKinsey Zurich, for Aragon community and built Unidao - dao for hedge funds
also on POlkdato protocoal Equilibrium - its like MakerDao for polka

and then we built Idavoll with my cofounder

Cryptodiffer Team

thank you @alinaaisay for introduction!
Let's now talk about Idavoll in details:

Q2: Can you introduce Idavoll to us?

Alina Aseeva

Idsvoll is an infrastructure project - we offer tools for any organisation to build a DAO governance module for themselves

We are built with Substrate and we are a polkadot parachain

Cryptodiffer Team

Thank you for an answer, we have the last question from us before we start community questions part
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

Alina Aseeva

We recived web3 foundation grant
here is the develoment timeline Here is the timeline,

https://github.com/idavollnetwork/Open-Grants-Program/blob/9efc19b7303ae26697cbc9b14100340e15ad9deb/applications/Idavoll%20Network.md
our first MVP milestone is April 2021 - as set in the requirements of web3 grant we received

and after April 2022 we hope to receive the next wave web3 grants, so we will have to publish our plans again

speaking of business milestones - we have to keep it in darkness before listing, you I wish to tell you everything but I can't)
so wait for our updates!
look at our cointelegraph paper for instance
https://cointelegraph.com/news/is-this-the-future-of-how-companies-and-organizations-will-be-run

Cryptodiffer Team

Thank you for such detailed and interesting answers!
It is time to move to the community questions part.

Alina Aseeva

Waiting for your questions guys!!

Cryptodiffer Community

The Idavoll Network brings decentralization back to the DAO in the Polkadot ecosystem. Will these decentralization programs be adaptable in the future to blockchains other than Polkadot? What tools does Idavoll provide to make the DAO fair and equitable?

Alina Aseeva

Yes, abcolutely!
Outside of polkadot for example, any DeFi project on Ethereum will be able to run its heavy governance process on the Idavoll Network (because of scalability issues governance will be expensive and slow on Ethereum) through the Polkadot bridge chain, the DAO. The results of its governance on Idavoll will be executed on Ethereum, enabling various projects to complete decentralized DAO management at very low cost.

Like Snapshot but with direct execution
and to the 2nd part

every DAO will decidefor itself how the votes will be counted. In many cases distributing IDVs proportional to the weight of each DAO member (experience, trust score) etc will make sense in many cases (not only the rich IDV holders shall have their say!)

So every DAO member will be responsible for decisions taken, and we hope it will make the world a better and fairer place for eveyone

Cryptodiffer Community

Is Idavoll only compatible with Polkadot eventually or do you hope to open Idavoll to other blockchain networks in the future? Why did you decide to work on Polkadot over other alternatives?

Alina Aseeva

As said - we as parachain will be compatible with all blockchains in and outside of polkadot

and to you 2nd question - why Polka

Look,
we don't know which blockchain succeeds after all
2019 was a year of Ethereum
2020 was a year of cosmos
2021 - now polkadot is on hype
but what 2022 brings? near protocol?

We don't know, but we will need interconnectivity across blockchains 100% sure and this is the essence of polkadot, so we put our bets in a safe place
beyond the hype!

Cryptodiffer Community

3 modules of yours (Token, Voting, Finance) of Idavoll Architecture are in an interaction. What about the third one, where does the Organization Module stand in your overall scenario?

Alina Aseeva

Sorry for the confusion - there is no separate modul Organisation in fact

But we do have Vault, and Idavoll Court and something similar to Aragon Agent - modelu which executes decisions outside of Idavoll dao

(apart of 3 pellets that you mentioned)

Cryptodiffer Community

Will there be some small amount of burning when tokens are swapped? I have seen the graph for the broadly projected emission rate over the next 5 years but I am wondering if there is any counter pressure to the emissions within the tokenomics? Or is the idea that the inflation wont be a concern because the demand for Idavoll will be high enough if the project is successful in cornering mass adoption?

Alina Aseeva

Hi!
Inflation will not be a necessary bad thing

Annual inflation is 2% ofour total supply, and half of all transaction fees will be destroyed. So the actual amount of annual inflation of IDV is 2% of the total minus half of the transaction fee. This means that as the use of the network increases, the number of additional tokens may become negative, making IDV deflation.

Bitcoin has created a deflationary model of digital currency, but the continuous reduction of miners' safety incentives is also affecting the longest chain consensus in the long run. Idavoll Network solves this problem by ensuring the reward of validators, and the reduction of inflation is not divorced from the use of the chain - the more the use of the chain, the less the inflation.

Cryptodiffer Community

Being the first and only cross-chain DAO protocol, where different blockchain ecosystems composed of users, tokens and dApps can meet and interact with each.

Do you have user manual or short videos that would guide potential users of Idavoll to safely navigate your platform?

Alina Aseeva

We are working on user manuals! we will definetlay puiblish them on our website just by the time our MVP is released in April - stay tuned guys!

Cryptodiffer Community

Can you list 1-3 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?

Alina Aseeva

thx for asking!

1. Ecology, idv is based on the integration of Polkadot ecology and other ecology.
2. We will implement public governance, likely prediction markets that everyone can vote for the proposal.
3. We are a better snapshot solution for DeFi on Ethereum.

This is what sets us apart from competitors like Hive or Aragon.

Cryptodiffer Community

Apparently, many blockchain projects are not solving any real problem, they just exist to sell their tokens. What problems exactly is your platform solving, and solutions are you provide?

Alina Aseeva

We wanted to solve the problem of interoperability between blockchain and also provide the framework for real-life organizations on the blockchain to solve disputes and act as governing bodies.

This is why we built Idavoll!

Cryptodiffer Community

Does the price of the token matter to you from an operational perspective, If your token price is $1 or $100?

Alina Aseeva

We are still thinking on how tokenomics shall work
IDV price has only been rising so far, we made our investors very happy
But outside of its speculative value IDV tokens will have lots of utility - which doesnt make the price irrelevant, obviousl we care to have a huge marketcap

so price of IDV is important but it will not affect the way we operate and serve our users

Cryptodiffer Community

I wanted to follow your project for the long term. Where i can get all the latest news about your project? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?

Alina Aseeva

https://t.me/idavollnetwork
and https://twitter.com/IdavollN?s=20

please join or communitites!

Cryptodiffer Community

is unfortunate that some projects remain half way because their developers abandon the concept because they cannot achieve the desired capitalization in the long term; how do you plan to make this project sustainable for its development?

Alina Aseeva

As you say, many projects in blockchain fail because of team issues or something else before delevring the results.

Luckily we are a DAO, so if one developer leaves, another will take his or her place

Dao - is the most sustainable form of existence for any blockchain project, so we will be the last ones standing in the room haha.

Cryptodiffer Community

How do you keep your platform safe for Investors and is your platform protected from hackers? And how do you manage if there's an attack on your platform, including the personal data of your platform's users? Is your platform ready for this?

Alina Aseeva

first of all we dont store the personal data of users,. hey - we are a blockchain after all. so all GDPR compliance - solved

secondly, we have actually been audited by Certik in some parts,there must be no backdoor for hackers!

we really wish there are more audit companies serving polkadot, but it’s really difficult to find one with as much great experience as we have internally in the team.
So our plan is to offer audit bounties just after launch - for whitehat hackers to look for vulnerabilities and help us stay safe!
We will have all developers of the world looking for bugs in our contracts instead of one company, I believe this must be pretty efficient.

Cryptodiffer Community

Who are your potential customers and which market are you targeting? All project coins have Utilities and are used in real life! So can you tell us what the main role of coins in your ecosystem is? Explain its Utilities & Real life use cases? and Why should I invest long-term in your currency?

Alina Aseeva

Speaking of real world use cases, the Idavoll Network can serve off-chain foundations (lets say UNICEF or another NGO), combining off-chain data with on-chain rules to complete the governance process.
Tokenomics is a hard question!

IDV – will be a payment token in DAOs and Courts, utility of IDV will be be complementing the protocol and not forcing the user to pay only in IDVs, so we will have DOT and "analog of Dai on polka" as well.
We plan to modelled it in CatCat sand maybe even involve external consultants for that

Cryptodiffer Community

I read that Idavoll project name comes from a magical valley that features in Scandinavian mythology (a place where the gods would take meetings and sign deals). This story seems interesting, can you please delve more into it and how it helped inspired you to create Idavoll Network?

Alina Aseeva

oh thank you for asking that!

As ancient gods used to divide their responsibilities to better rule the universe, organizations working on Idavoll protocol will be able to delegate decisions to its members, control their activities and rule our disputes, while staying completely on the decentralized chain. It’s a self-sufficient universe, where each organization can renew itself and maintain its identity forever

Cryptodiffer Community

Is your platform suitable for Crypto beginners? Or does it only appeal to professional users?

Alina Aseeva

Actually we dont want Idavoll to be a super complex developer tool set for customization of DAOs in all possible ways.

We will only focus on key use cases and offer as little customization as possible. Ideally in a way, that customer presses one button and some DAO (although not perfectly suitable to his/her needs) appears

So we will do our best to make out stack useful for everyone - even crypto beginners

Cryptodiffer Community

Idavoll Network is a decentralized organization platform that provides an infrastructure and services to users of the Idavoll Network and Polkadot ParaChains as stated on you website but pls can you tell me the kind of infrastructure and service you provide?

Alina Aseeva

Idavoll Network provides infrastructure and services to users of the Idavoll Network and Polkadot Parachains. Each Idavoll Network’s individual organization exists as a set of modules that define the organization’s stakeholders and their associated rights and privileges.
So we provide everything that you need - tools and frameworks - for you to build a DAO

Cryptodiffer Community

I found you have a court that is called Idavoll court, why did you make the feature Idavoll court Idavoll court? What basis are you using? and what is the importance of the courts in the Idavoll ecosystem?

Alina Aseeva

Court is the enitity resolving disputes in Idavoll Universe. Jurors are selected to stake their IDV behind their decisions (skin in the game) and after dispute agreement is resolved the winners take the funds, and a decision is being executed

Cryptodiffer Community

Although Idavoll has plans to support Crosschain, its "main" chain is polkadot. Is it possible to contribute to you from polkadot, or only through your etherium address?

Considering the characteristics and tokenomics of the IDV token, I would like to know, what type of token is it and on what network will it be supported? Can we access it through DEX?

Alina Aseeva

You can get access to IDV at Gate.io we already have several CEXs confirming our listing, this will happen in the next few weeks.

And obviously Uniswap - we have some liquidity there
We have now ERC20 token IDV, which will be mapped to IDVs on polkadot after the mainnet launch ini May 2021
———
This is how mapping works:

So all the IDVs we are issuing so far are all on Ethereum. Once Polkadot mainnet launches, we will use Polkadot mainnet to reissue the Polkadot version of IDVs.
with 1:1 ratio
and in the meantime, we will burn all the erc20 tokens

For the circulating tokens that are already listed on exchanges, we will integrate our mainnet IDVs to replace all the ERC20 IDVs. And by then, we simply stop uniswap, since uniswap is for ERC20 tokens only.
————-

Cryptodiffer Community

Collaboration and partnership is one of the foundations to make DeFi more widespread, Can you share some of the partnerships your Project has formed with the recent existing blockchain platforms?

Alina Aseeva

We are super excited to annouce that Idavoll Network partners with Trustbase - the Polkdadot Parachain based on independent smart contract language #Subscript! Idavoll Network will integrate its community governance modules to utilize Subscript interoperability functionalities to enhance the Polkadot Ecosystem users.

Cryptodiffer Community

First of all, getting enough funds is a primary goal for the construction of a project. Is your team economically capable of running this project? Do you have enough funding to develop it? Can you tell us how the profit is generated by your project?

Alina Aseeva

Yo. as a user. can get profit IDV by bounty hunting programs, staking, or simply purchase on the secondary market.

We, as prganisation will profit from speculative proice growth of IDV and from providing the infrastutural value - fees for using the Idavoll ecosystem

Cryptodiffer Community

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 Investor to your platform and keep them long term?

Alina Aseeva

we have a detailed plan on how to spread awareness about Idavoll worldwide and grow our customer base

We will have many builder and miner rewards distributed just after launch, wait for hackathon bounties, for grants from our side – this is definitely the 1st step for us to gain traction in terms of attracting development.

Also, we have several partnerships with Polkadot players in phantasy games and the NFT space. So we plan to do many b2b partnerships with existing inhabitants of Polkadot universes and grow organically together.

Cryptodiffer Team

Thanks for your time @alinaaisay
👍🏻

Alina Aseeva

Thank you everybody!

Cryptodiffer Team

Very interesting and insightful answers!

Alina Aseeva

your questions were thoughtful - I am so happy I could answer you

Cryptodiffer Team

Thank you to everyone who took part!

Alina Aseeva

Its been a pleasure ))))