31 Aug 202008:08
NAOS Finance AMA Recap
Cryptodiffer TeamHello, everyone!😁
We are glad to meet here:
Kevin Tseng, Co-Founder, NAOS Finance (@tsengkevin)
Bob Chien, Marketing, NAOS Finance (@mi_go_bao_bo)
Jeannice Tse, Strategy, NAOS Finance (@roollie)
Jeannice TseHello everyone!
Bob ChienHello !!!!! Thank you for hosting us!!!
Kevin TsengThanks for having us! We're happy to be here
Cryptodiffer TeamWelcome Kevin, Bob and Jeannice thank you for taking your time today!
Our team has prepared 5 questions for you to start with:
Let`s start with the introduction !
Q1: Can you introduce yourself to our community?
Kevin TsengSure, i will go first
I have been both entrepreneur and investor
spent time with The Walt Disney Company at the M&A team, and Strategic Investment at Alibaba Group, and started/exited 2 companies over the last few years
super excited about how DeFi has evolved over the last two years, and believe NAOS can fundamentally change the landscape of DeFi!!
Bob ChienThis is Bob Chien. You can call me Dr. Bob.
I'm an experienced founder in the e-commerce and technology space.
I also worked for Bayer and ThermoFisher, two of the biotech giants that have complicated supply chains.
My interest in NAOS lies in the value he thinks NAOS will bring into the commerce world.
As someone who was a founder of a supply chain company, I understands that bringing real world assets onto chain is the future.
Jeannice TseI'm in strategy at NAOS. have worked in Citigroup, and McKinsey. I've been learning a lot about crypto since I come from a traditional finance background and I'm excited to bridge the two worlds!
Cryptodiffer Teamgreat, thank you for introductions, you all have very solid background 🚀
Let's now talk about Naos:
Q2: Can you briefly tell us what is Naos Finance in 3-5 sentences?
Bob ChienYeah, let me answer this question.
NAOS enables the billions of dollars held in real-world, fiat currency-denominated debt and other financial instruments to be tokenized and transacted on a blockchain.
The more than $250 million originated by NAOS to date is backed by real-world assets provided by Fortune 500 companies, publicly traded institutions and international corporations that account for millions of customers globally.
Now, NAOS is making it possible to bridge DeFi and traditional finance by bringing real-world assets into the crypto ecosystem.
Cryptodiffer TeamQ3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?
Kevin TsengWe believe there are 3 critical parts for any project aiming to bring real world assets on-chain
#1. Financing license - so it meets regulatory requirements and are able to interface with traditional finances/companies
#2. Sizable real world assets originated
#3. strong partnership with lending protocols and built-in liquidity pool
with that said, NAOS has obtained financing licenses in 4 countries, and are getting two more this year
we have originated over $300M worth of liquid, investment grade assets that are ready to be deployed on-chain
and we have formed strategic partnerships with MakerDao, Aave, Compound and many other liquidity providers
in the near future, we will be focusing on bringing real world assets on-chain at scale, we're on track to have $100M+ deployed this year, and $500M by next year
which will allow us to partner with other protocols to take DeFi to the next level - one that combines crypto-native assets and real world assets
Cryptodiffer Teamamazing, thank you for an answer!
Let's talk about competition now
Q4: Can you tell us about your competitors and about what makes you different?
Jeannice TseWe see our competitors as banks in traditional finance as well as a few other protocols trying to bridge the two worlds. For the former, our goal is to disrupt the lending space there. For the latter, we feel like for the 3 critical parts that Kevin mentioned above, that we have competitive advantages
Cryptodiffer TeamGreat! interesting approach indeed!
Okay, this will be the last question from our team before we open the chat for community round of questions:
Q5: Can you name us your investors?
Kevin TsengWe are fortunate to have the trust from a few strong investor partners
from the crypto side, we have Mechanism Capital , The Spartan Group, SNZ, Genesis Block, GBIC
from the traditional side, we have Ant Financials (part of Alibaba Group)
and we also have the vote of confidence from 3 of the top 4 exchanges globally
Cryptodiffer TeamThat is huge! Very strong backers!
Thank you for such detailed and interesting answers!
It is time to move to the community questions part.
Cryptodiffer CommunityI 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?
Jeannice TseThanks for your question!
Bob Chien@wearefamilyed Please join our telegram chat for the future annoucement. Basically we enable the billions of dollars held in real-world, fiat currency-denominated debt and other financial instruments to be tokenized and transacted on a blockchain.
Cryptodiffer CommunityNAOS says it is building a bridge to bring traditional finance into DeFi by funding real world debt with crypto assets supplied by blockchain lenders. What do you think is the solution to the opaque risk assessment and loan application process of both DeFi and Traditional finance? Is there any way you could instill trust and transparency back into the space?
Jeannice TseGreat question! This is one of the main reasons why we wanted to build NAOS. We are working with a few partners to bring risk metrics like credit risk, etc on-onchain and in bulk, and create the transparency that you are speaking about
Cryptodiffer Community1. Will NAOS Finance be just limited to tokenizing debt obligations alone or will there be an option to tokenize hard assets such as real estate in the nearest future?
2. How safe is it to lend on the NAOS Finance platform?
Kevin TsengGreat question! while we believe the opportunity of real estate tokenization is huge, we are currently focusing exclusively on liquid assets such as corporate debt, supply chain financing...etc
Reason being that illiquid assets such as real estate require constant appraisal of it's value. We will work towards building a strong external oracle to do that in the future
Cryptodiffer CommunitySoutheast Asia is a very vibrant school and there are a lot of development projects here, so do you have any plans to grow in Southeast Asia?
Kevin TsengYup! We have a very strong Southeast Asia presence! In fact, we hold financing licenses in Indonesia and Philippines, and have a large corporate borrower network in the region!
Cryptodiffer CommunityI'm a white hat hacker in internet, do you think your system is secure enough from hackers? Does NAOS Finance have a program that rewards individual vulnerability detection of the system?
Kevin TsengHey Ben, please dm me! We would love to work with you to further ensure the safety of our contracts. We are currently working with the top audit firms but would love to get your feedback!
Cryptodiffer CommunityWhile going through your Goals, I saw that you have a great ambition and good plan for the industry. Some of the goals that most excite me are that of the best interest rate on any comparable loan of the same risk profile & terms and Breaking the geographic boundaries for lenders & borrowers to transact in a borderless fashion. Don't you think think goals are to germane to achieve? I know it's good to be optimistic but how do you intend to achieve this ambitious goals of yours?
Jeannice TseSure! We believe that crypto is getting more mainstream, and folks in crypto are seeing the benefits of having real world assets onchain. So we are riding the tide, and making sure to work with both lenders and borrowers to achieve these goals
Cryptodiffer CommunityWhat is the biggest challenge for you right now? What stage is the development process of NAOS Protocol? In order to have the same success as the first generation DeFi platforms, what innovation does NAOS Protocol have to create a NAOS Finance system that brings the highest value to the parties involved?
Kevin Tsengfor a project like NAOS that bridges Traditional Finance with DeFi, the biggest challenge usually happen in the real world, namely having the legal structure or legal contracts setup, we are fortunate to have the support of our partners and have came up with the solutions for that
Cryptodiffer CommunityRegulatory issues seem to be the most challenging thing for any project dealing with real world assets.
How does NAOS finance intend to solve this issue in its jurisdictions?
Jeannice TseYep! We have a good start in terms of the licenses that we hold in some countries, and trying to increase these but regulatory issues is indeed a tricky one. We are working with counsel, other partners and advisors to educate the borrowers, their other lenders (if applicable) about crypto, and regulatory agencies. As more people understand crypto, we hope that the reg requirements will be less onerous
Bob Chien@mece300 NAOS works directly with fintech partners based all around the world. These partners are fully licensed in their respective and help NAOS evaluate corporate assets based upon their risk profile, balance sheet health and loan requests. We understand some projects might look to "own" the assets, but they run the risk of running into regulatory red tape as things aren't as cut and dry in the real world. Therefore, we believe that working with origination partners who are not only licensed, but also insured, provides a safety net that other protocols can't match. Ultimately this is our competitive differentiator.
Cryptodiffer CommunityRegarding DEFI, what innovative decentralized products will NAOS Finance create? What are the options for receiving compensation for investors?
Kevin Tsengwe have a loooooooooooong pipeline for products :) One of the interesting product is a DeFi derivative, which is a hybrid product that combines real world assets and crypto-native asset, imagine one that has the upward potential of BTC and the stable recurring income from a corporate bond, this will be a completely new asset class for both DeFi and Traditional finance
Cryptodiffer CommunityWhere i can buy this token ?
Jeannice TseOur public launch is not ready yet. Drop your email on our website for early access! https://naos.finance/ thanks for the interest!
Cryptodiffer CommunityIs NAOS Finance fully decentralized? How do you avoid being centralized futher?
Jeannice TseHi Claire! thanks for the question. There are some processes that are centralized currently as we are ramping up but we have plans to decentralize many of those processes over time
Cryptodiffer CommunityQ.How do you handle some of the market's challenges and challenges to meet the market's Supply-Demand when building a project?
Kevin TsengWe are tackling the global credit gap issue, which currently stands at $3 trillion dollars! The demand for funding is limitless. NAOS is not solving a supply-demand problem, we are building the bridge for the two parties to meet!
Cryptodiffer CommunityQ.All the attention of projects on major exchanges is more concerned by users than baby exchanges. What do you think about token listing on top exchanges?
Jeannice TseSure! We are in late stage discussions with 3 out of 4 top exchanges
Cryptodiffer CommunityWhich area are you focusing on at the moment? (DeFi, Stake,Dapps..) and what is your goals in this year ?
Kevin Tsengwe are focusing on bringing real world assets on-chain at scale, in order to do that, we will need to ensure the product is safe and easy to use, continue expanding the network of our corporate partners, and also build out a large liquidity pool
We are already the largest player in the real world asset space, and we will continue the momentum!
Cryptodiffer CommunityQ.What are the ways for your project to generate revenue in the long run? What is the progress of business development and what are some of your commercial partnerships?
Jeannice TseThanks for your questions! At the start and core, we will make the spread between what the borrowers pay and the lenders get. As we progress, there is a long pipeline like Kevin responded in one of the other questions, like derivatives, etc. that can generate other revenue. We are working with some supply chain companies now, and have a network of 2,500+ SMEs.
Cryptodiffer CommunityQ.What is NAOS strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally?
Kevin TsengAbsolutely, we rely on communities to help us bring NAOS to the next level, the first thing is to share more about our vision and plans, and this is exactly what we're doing here today
We will be getting our communities and token holders to participate in the governance at NAOS, and also provide revenue share to the token holders
Cryptodiffer CommunityAs a lender, is it compulsory for me to undergo KYC before lending? If yes, how rigorous will the KYC be?
Jeannice TseFor now, yes in the current regulatory climate. It will be a standard KYC process. Our hope is that it will be less difficult over time
Cryptodiffer TeamThank you @tsengkevin @roollie @mi_go_bao_bo for your time
thank you to everyone who took part today!
Appreciate the activity.
Bob ChienThank you!!!
Jeannice TseThanks everyone!!!!!!
Bob ChienPlease join our telegram chat for further announcements and surprises!!
Btw, here is the most current ama_article.