Occam.fi AMA Recap

19 Oct 202123:28

AMA

Occam.fi AMA Recap

Myko (CryptoDiffer)

Hello, everyone!😁

We are glad to meet here:

Elliot Hill, Head of Communications

Elliot

Hey everyone! It's great to be here and meet the CryptoDiffer community!

Myko (CryptoDiffer)

Welcome Elliot, thank you for taking your time today!

Elliot

No problem! Happy to be here

Myko (CryptoDiffer)

Great
let's start with some introductory questions
Q1: Can you introduce yourself to our community?

Elliot

Sure! My name is Elliot, I'm Head of Communications at Occam.fi. I've been with Occam since they launched, and before that I worked for the Cardano Foundation.

I've been working in the crypto space since 2017, and I'm particularly interested in the Cardano blockchain.

Myko (CryptoDiffer)

Super! thanks for the answer
now let's take a closer look at the project
Q2: Can you introduce Occam to us?

Elliot

Yes, let's go! 🚀

Occam.fi is a full-featured DeFi ecosystem for the Cardano blockchain.

We have the following features:

- OccamRazer - OccamRazer is an IDO launchpad for the leading projects building on Cardano. We are officially backed by official Cardano entities EMURGO and IOHK.

- OccamX DEX - The OccamX decentralized exchange is planned as one of the most significant secondary market trading venues for the entire Cardano blockchain, offering liquidity for Cardano Native Tokens and IDO project listing through OccamRazer,

- Occelerator - Our incubator for Cardano projects, taking the most promising teams from MVP through to a fully launched project for the Cardano ecosystem!

Myko (CryptoDiffer)

Superb!
let's now transfer to the last introductory question
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

Elliot

Sounds good! So we launched in April 2021 through an IDO on our own platform, OccamRazer.

It was a hugely successful IDO and we've gone from strength to strength since then. We have secured funding from EMURGO, the official venture arm for Cardano, and IOHK through the cFund - their investment group for Cardano projects.

We have brought around 10 successful IDOs to date, and have some 5 or 6 IDOs lined up for each month, and we have some huge upcoming IDOs in the next couple of weeks!

One of our biggest milestones to date, and also our upcoming technical milestone, is the OccamX DEX. It's been a tough challenge building one of the first DEX's for Cardano, and we have had to overcome the problems of concurrency - processing multiple transactions at once through a UTXO-based accounting model.

Coming up, we have the release of our first OccamX MVP, the launch of our ADA stake pool, and the launch of our new interfaces for OccamRazer as we upgrade our offering.

Cryptodiffer Community

I found that Users who stake more than 150 $OCC Tokens will be eligible for CED rewards ,Can you tell me more about the CED Rewars and Is there any fixed time for the staking 150 $OCC Tokens ?

Elliot

Great question! So CED rewards are ecosystem rewards available to our participants who stake at least 150 OCC.

CED, which stands for continuous ecosystem diversification, are the tokens of projects listing through our launchpad. So, when each project launches, the Occam Association buys a portion of that projects tokens and distributes them among our community.

This is a passive reward mechanism that provides our OCC token stakers with regular distributions of project tokens. We think this is a great way for everyone, regardless of their tier size, to be included in token distribution of the next projects launching on Cardano.

We have just increased CED rewards for users in tiers 3-5, making them much more significant. If you're interested in this passive reward mechanism, you must buy and stake at least 150 OCC.

There's no fixed time for CED staking.

Cryptodiffer Community

Can you tell us about OccamRazer's plan to focus on alternative blockchains to lower ETH gas costs? How will you reduce high gas costs? and has the Occam been audited?

Elliot

Sure!

So eventually, we will migrate all of our components fully to the Cardano blockchain. This will save on Ethereum gas fees, as Cardano handles tokens differently to Ethereum (no smart contracts required) and the cost to transact with a smart contract on Cardano is very low.

In the short-term, we are also exploring blockchains like BSC or Polygon to launch our OccamRazer IDOs on, as they don't require us to drastically change the Solidity smart contracts we deployed on Ethereum.

However, as mentioned, our ultimate solution is to run all of our components on Cardano - which we believe will be one of the leading blockchains in the world.

Cryptodiffer Community

1. Hi Elliot, if bitcoin and the whole market crashes tomorrow and goes on a bear market for the next 3 to 5 years, what will be your message to occ stakers and early supporters? What's to look forward to in the next 3 to 5 years? Are you guys still going to continue being aggressive in getting more projects to launch their Ido on occam despite a bear market/market crash? Would love to hear your thoughts on this.

2. Hi Elliot, the community is aware that OCC Team is working around the clock to deliver the transition to Cardano network that will eventually save us from extortionate eth gas fees. Can you please tell us how the transition to Cardano would look like for stakers who are currently staking their occ-erc20? Do they need to unstake and incur a 4% cast out fee, and bridge their occ-erc20 to occ-ada? Or is this transition going to be smooth with no fees at all ? Please share us your thoughts on this.

Elliot

1. Hi Elliot, if bitcoin and the whole market crashes tomorrow and goes on a bear market for the next 3 to 5 years, what will be your message to occ stakers and early supporters?

Events like these are certainly hard to predict, but as we all know it's possible and it happens fast. At Occam.fi we have a runway of funds to weather a prolonged bear market, but more importantly, we have our sights set on many different business use cases for the Occam ecosystem. If new projects begin to slow down through OccamRazer, we can pivot to the OccamX DEX as our core focus. We will also introduce liquidity mining as a service, and other DeFi products. As we saw, even during the last bear market, many DeFi projects and protocols remained popular.

2. Hi Elliot, the community is aware that OCC Team is working around the clock to deliver the transition to Cardano network that will eventually save us from extortionate eth gas fees. Can you please tell us how the transition to Cardano would look like for stakers who are currently staking their occ-erc20? Do they need to unstake and incur a 4% cast out fee, and bridge their occ-erc20 to occ-ada? Or is this transition going to be smooth with no fees at all ? Please share us your thoughts on this.

We will have a smooth, orderly, and seamless process to move our components and our users stake from Ethereum to Cardano when that time comes. There won't be any cast out fees applicable, that wouldn't be fair.

Our key focus for the time being is the OccamX DEX, so these components will be available first on Cardano. But as soon as we have components for OccamRazer available in Plutus, we will provide our community with a roadmap for this transition.

Cryptodiffer Community

I understand that the last project that you enjoyed your launch service was Mobius, but could you really tell us the results obtained? did I achieve the expected objectives? And also, what will be the next project to be launched on your platform?

Elliot

The best accolade for the power of OccamRazer so far is easy - all our IDO projects have reached their hardcap in a matter of hours and they have all been heavily oversubscribed... this is the demand for OccamRazer IDO projects and the power of our platform! 😎
That's all the best questions I think!

Myko (CryptoDiffer)

superb!
you’ve done a nice work, thanks for the ama

Elliot

No, thank you! Fantastic AMA and great community! 🚀