Raze Network AMA Recap

31 Aug 202017:08

AMA

Raze Network AMA Recap

Cryptodiffer Team

Hello, everyone!😁
We are glad to meet here:
Justin Kellison, Project Lead @JustinK2

Justin Kellison

Hey guys,

Excited to be here! 👋

Cryptodiffer Team

Welcome Justin, 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? @JustinK2

Justin Kellison

Sure.
About me:

I am Justin Kellison. I have been a contributor in the crypto industry for around 4 years now, and have worked with few multi-million dollar DeFi projects. I have mostly worked on the marketing front and have created exposure and content for the projects I have managed.

I came into crypto in late 2017 and stayed throughout the bear market, learning and growing my network meanwhile.
Through my network I came in touch with the Raze team and joined them in this beautiful journey!

My focus here will be on growing and strengthening the RAZE community, and create ELI5 content for them. The one most asked for.

Cryptodiffer Team

thanks for the answer 👍
Q2: Can you briefly tell us what is RAZE Network in 3-5 sentences?

Justin Kellison

Raze Network is a second-layer protocol that will provide cross-chain payment privacy for the entire DeFi stack of the Polkadot ecosystem.

Since the Zether framework we use was designed to support the Ethereum account model, the Raze contract will support both tokens issued in the Polkadot ecosystem such as DOT & Kusama as well as ERC-20 cross-chain private payment.
Through our RAZEVM integration, we will be able to connect to any DeFi or Web3.0 product, and then mint privacy tokens in 1:1 ratio.

Our targeted market is really huge, as we can connect to any chain which supports smart contracts. Ethereum, Polkadot and Binance Smart Chain will be amongst the first ones!
Raze Network is a second-layer protocol that will provide cross-chain payment privacy for the entire DeFi stack of the Polkadot ecosystem.

Since the Zether framework we use was designed to support the Ethereum account model, the Raze contract will support both tokens issued in the Polkadot ecosystem such as DOT & Kusama as well as ERC-20 cross-chain private payment.
Through our RAZEVM integration, we will be able to connect to any DeFi or Web3.0 product, and then mint privacy tokens in 1:1 ratio.

Our targeted market is really huge, as we can connect to any chain which supports smart contracts. Ethereum, Polkadot and Binance Smart Chain will be amongst the first ones!
More than 3-5 lines, but sums it up pretty good! 👌👌

Cryptodiffer Team

🔥🔥
Q3: @JustinK2 Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

Justin Kellison

Raze Network is currently at a very early stage.
Currently going through fundraising rounds, we have released our docs, our Whitepaper and also open-sourced our code recently.
Atm, what we are working on is substrate-based smart contracts which is using zkSNARKs algorithms.

In future we will also work on cross-chain bridges and cross-chain AMMs.
Cross-chain bridges is mapping of other chain tokens on Polkadot in order to access the Polkadot DeFi ecosystem. It also helps in increasing liquidity in the Polkadot decentralised ecosystem.

Our code is audited by Certik, and report is expected to come out very soon too.

Worth noting is our TGE, for which some details can be found here: https://raze-net.medium.com/raze-token-launch-f4b73dac3346

Cryptodiffer Community

How is $RAZE token used? How to keep the motivation for holding $RAZE tokens long term?

Justin Kellison

$RAZE token will be required for all transactions on RAZE Network as a gas token.
This is one of the biggest utility for $RAZE token.

- Raze is a privacy-preserving token, and will also act as a Governance-token.
Community will be able to propose changes in the protocol, and then vote on it to implement the changes.

- RAZE token will also be used to provide liquidity reward, to incentivise the liquidity in the decentralised ecosystem.

- Also a small portion of the transaction fee will be burned, thus RAZE supply will be deflationary.

Also covered in our Docs: https://docs.raze.network/getting-started/token-economics 👌
Actually Raze Network is a layer 2 protocol.

It can connect to any chain which supports smart contract, for example Ethereum, Binance Smart Chain, Polkadot etc and then mint tokens to its own layer 2 network.

This way all transactions will be fast and cheap, and liquidity will be available from all big ecosystems.
Our dev team have already used zkSNARKs on ethereum before, and now we are implementing it on Substrate.

They do have in-depth knowledge of zero-knowledge proof algorithms, and are confident on the functionality of it.

Not only that, we have also open-sourced our code for anyone to look into it and build confidence on our product.
Plus it is also audited by Certik. 💯

Cryptodiffer Community

What are the main differences between the RAZE Network and other protocols? Why is RAZE Network better?

Justin Kellison

First of all, we are not limited to one product or service.

Raze Network can connect to any DeFi or Web 3.0 product, and use the services provided by them in a completely anonymised manner.
Whether it is Lending, Derivatives, Staking, Insurance or anything.

Also, Raze is not limited to one ecosystem or chain.
It can connect to any chain which supports smart contracts (Ethereum, Polkadot, Binance Smart Chain, Tron etc)

And also NFTs. :)
We recently partnered with Phantasma Chain to provide anonymity to NFT transactions.

Cryptodiffer Community

-Why is the slot for the Genesis Community Round limited to 100members? Are you discouraging others from getting involved?

-Most Privacy tokens are getting delisted from exchange due to regulatory compliance . Will $RAZE token have problems getting listed on top tier centralized exchanges or it will be limited to Uniswap?

Justin Kellison

- Slots are limited in public sale rounds, but we have reserved some slots fod those who are ready to help creating awareness about Raze Project.

Here are the details of the program: https://raze-net.medium.com/announcing-genesis-razer-community-round-4f658e154a87

- Yes RAZE will be listed on CEX, we are already in touch with few.
But our focus is also on increasing liquidity in DeFi as we are bullish on DeFi.

We will also work on creating our own DEX - RAZE Swap which will be a dex for all your private swaps/transactions.

40% of RAZE supply is reserved to bootstrap liquidity in such platforms. 💪

Cryptodiffer Community

I'll like to partake in your ambassador programmes, do you have any ?

Justin Kellison

Yes one is soon to be out.
We already have onboarded one great community member as our first ambassador, and more will be joining us soon.

Start contributing now in the chat and twitter and you might get onboarded before too. 👌

Cryptodiffer Community

How do you plan to increase the demand and scarcity of the Token? Do you have token burn or buy-back plan?

Justin Kellison

Yes a percentage of the transaction fees will be burned in the form of RAZE tokens.

RAZE supply will be deflationary

Cryptodiffer Community

Collaboration and partnerships are one of the cornerstones to making DeFi more widespread, Can Raze Network share some of the partnerships you have formed with existing blockchain foundations recently?

Justin Kellison

We have already partnered with many crypto projects.
Kylin, MantraDao, Bella, Phantasma, Xend, RioDefi, Omni are few examples.

Their community will be able to use the services provided by their platform in a completely anonymised manner through our RazeVM integration.
Adding another great usecase in their platform!

And we will have many more partnerships in line too. Stay tuned for that. 👌

Cryptodiffer Community

1️⃣What is the advantage of printing private tokens from basic tokens in the contract at a 1: 1 mint value ratio, and how do zkSNARKs enable data to be parsed?

2️⃣Why does zkSNARK need to convert a token to an anonymized version? What is the role of the key in maintaining anonymity?

Justin Kellison

- zkSNARKs using range proof algorithms to parse data, without telling what the actual data is.

This way the other party can confirm if the person fits the required criteria or not, without revealing the exact data.

- Tokens must be minted on our own layer-2 chain which is using zkSNARKs algorithm, otherwise there won't be true privacy as your transactions will still be traceable.

Cryptodiffer Team

Thanks for your time @JustinK2
Let's finish the AMA!
Thank you to everyone who took part!

Justin Kellison

Thanks a lot guys for the questions,

And thanks a lot to CryptoDiffer for having us here today! 😊🙌