Mixsome AMA Recap

02 Sep 202013:08

AMA

Mixsome AMA Recap

Cryptodiffer Team

Hello, everyone!😁

We are glad to meet here:

Augustas Staras - the project lead of MixSome

Augustus Staras

Hey @makscryptodiffer nice to be here! Very excited!
I follow CryptoDiffer - you have the best News channel in crypto!

Cryptodiffer Team

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?

Augustus Staras

Sure! My name is Augustas, I'm Project Lead at Mixsome.
My background is business development in fintech, with more than 12years of experience in building various companies. I'm in crypto since 2017, so have been from early days and found DeFi space last year. Now will be focusing even more on it with my role in building Mixsome.

Cryptodiffer Team

Perfect, thank you for introduction:)
Let's use the opportunity and talk more about MixSome

Q2: Can you introduce MixSome to us?

Augustus Staras

Happy to!
The DeFi world is full of protocols that users can use to generate a yield on their money. The problem for new investors is that they are hardly useable right now because of the high fees of the Ethereum Network.
And if you're newcomer to DeFi space, looking for the best yields is can be time-consuming and requires knowledge that newcomers don't necessarily have in the beginning.
So our vision with Mixsome is to level the playing field and help tame DeFi for everyone.
So, in few words, Mixsome is a DeFi Strategy Aggregator built on xDAI ethereum sidechain to maximize yield generation.
What we want to build with Mixsome is to turn complex interactions with DeFi protocols and tokens into easy-to-understand money flows, that more investors can start investing in DeFi.

Cryptodiffer Team

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

Augustus Staras

And I want to share how Mixsome looks (sneak peak): https://vimeo.com/523148400
That's a good question! There's many we already achieved and much more planned, so happy that our journey is just starting.
DeFi is an open-source world where we can easily integrate numerous protocols into Mixsome platform. Protocols like AAVE, Compound, Uniswap, Curve, BadgerDAO and many others allow us to interact with them without partnership.
So we have already built our Testnet App, which we is undergoing finetunings and is being made ready for launch after Mixsome IDO.
We want to launch with 3 pre-defined DeFi strategies, called DeFI Shark - lending in Compound protocol, DeFi Crab - providing liquidity in Uniswap, and DeFi Fish - liquidity in Curve protocol. These strategies can help onboard many new investors to DeFi space with the help of easy to use fiat on-ramp from credit cards & banks.
We have also achieved a milestone with fundraising - Mixsome has raised strategic investment from many prominent VCs in crypto space and very happy to have them onboard https://mixsome-cash.medium.com/mixsome-raises-2-7-million-in-oversubscribed-funding-round-25f484ba8ad6
Also, we had very succesfull Token Allocation Mining event on our partner Launchpool launchpad. Mixsome was oversubscribed by 80x and it shows a huge support we are getting from community https://mixsome-cash.medium.com/mixsomes-ame-on-launchpool-wraps-up-massively-oversubscribed-495cb81296fb
So many so far :)!

Cryptodiffer Community

What is the $SOME utility in the ecosystem? Where it will be used and why would the demand for $SOME increase? Please tell us about your 2021 roadmap and beyond.

Augustus Staras

That's a good question! Mixsome has native token SOME, It will be used by platform users as a governance tool to improve the platform, propose and vote for new DeFI strategies, and also vote on protocol fees and reward distribution to SOME token holders. Of course, Mixsome will use it in liquidity mining programs on Uni and PancakeSwap as rewards and for Referral/Promotions events to incentivize users to invite new users to the platform.

Cryptodiffer Community

Really the Bitcoin chain is still one of the safest and strongest of all, but it is really very complex to develop on it, but now with the association of Mixsome and Badger will simplify that process? or how do they really benefit Bitcoin?

Augustus Staras

Very well researched question, thank you! Bitcoin is the first asset everyone buys when entering the crypto world. Being able to use it to generate revenue is very valuable for new users! And at Mixsome we plan integration with BadgerDAO to enable our users to use their bitcoins to benefit from DeFi yields.

Cryptodiffer Community

What features/improvements will you add to your products in the near future?

Augustus Staras

Gas fees on Ethereum are not helping new investors in the space, so Mixsome will address this by integrating with xDAI chain, which then offers very low gas fees via xDAI sidechain to Ethereum. We think this will make a unique feature for Mixsome users.

Cryptodiffer Community

What new tools does Mixsome offer the community to manage portfolio and yield farming strategies? Can yield farming be fully automated?

Augustus Staras

We are building Mixsome as users for users so that everyone can start their DeFI journey as easily and understand how complex DeFi protocols work in simple and intuitive way. We start with 3 pre-defined strategies, and our vision is to allow everyone to build their own custom DeFi strategies using Mixsome, so Mixsome can become a useful tool for DeFi investors.

Cryptodiffer Community

The Yield farming industry is very young and can change over time. How flexible is Mixsome tools and design to change quickly and be successful?

Augustus Staras

Great question! At Mixsome we are integrating with protocols like Compound, Badger, Curve and more that are already in the market for long time and have been tested. They already used by many users and offer a lot of yield opportunities. Our objective is to expand to the possibility to always provide the best opportunities to our users so we can partner with new protocols and platforms too.

Cryptodiffer Community

1. High gas fees have prevented more users to join DeFi investments. How does Mixsome aim to tackle high gas fees on transactions in Ethereum network?

2. What long term vision does Mixsome have for users to continue using the platform for long term?
Yes, Ethereum gas fees are a sensitive subject right now hehe!
Yes, Ethereum gas fees are a sensitive subject right now hehe!
We have partnered with xDAI to tackle this high gas fees on transactions in Ethereum network which prevents more users to join in DeFi investments. So for Mixsome it works when user starts investing with Mixsome by moving his/her ETH assets to the xDAI layer-2, but when coins are in it, Mixsome can perform very low gas fees transactions with other protocols that already integrated with xDAI.
We have partnered with xDAI to tackle this high gas fees on transactions in Ethereum network which prevents more users to join in DeFi investments. So for Mixsome it works when user starts investing with Mixsome by moving his/her ETH assets to the xDAI layer-2, but when coins are in it, Mixsome can perform very low gas fees transactions with other protocols that already integrated with xDAI.

Augustus Staras

Moreover, our layer-2 partner xDAI has developed bridges between chains. We are very interested in what is happening right now in other chains!

Cryptodiffer Team

Thank you for your time
Appreciate all the great answers
Thank you everyone who took part!

Augustus Staras

My pleasure! And many thanks for having me today here with you and your community!