04 Sep 202003:08
Stone AMA Recap
Cryptodiffer TeamHello, everyone!😁
We are glad to meet here:
Alex Lam, Project Lead at StoneDefi
Alex LamHi everyone nice to meet u
Cryptodiffer TeamOur team has prepared 3 questions to you to start with:
Q1: Can you introduce yourself to our community?
Alex LamI worked in a Government-affiliated Institutions of Property before joining crypto.
I founded ROCKMINER at the end of 2013 after finished my PH.D, which focus on BTC mining investment and hosting, and I co-founded RockX at the early of 2019 as well.
RockX is a PoS platform and running PolkaDot, Terra,Kusama, Solana,Oasis and other Nodes. Which has more than 65M USD assets on the platform.
Cryptodiffer TeamQ2: Can you briefly tell us what is StoneDefi in 3-5 sentences?
Alex LamYes, it will be interesting
I will use the characters of STONE TO explain what we are
STONE is the only yield management protocol focused on creating “Rock Solid Yield” for all the users in the DeFi ecosystem.
Stone is positioned as the anchor yield aggregation platform that aims to expand the current DeFi yield market and include the yields from the staking assets.
As the beginning of yield market is positioned at erc20 assets, which still takes small portion of whole crypto market cap, Stone is uncovering the opportunities of into the phase 2 at the Proof of Stake (“PoS”) assets.
Stone has the vision to be the global yield marketplace with the inclusion of multi-chain PoS assets.
To leverage the capability of substrate and Polkadot, Stone is also looking to provide more innovative products based on a wide range of yield-bearing assets to users across multiple blockchains.
Cryptodiffer TeamQ3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?
Alex LamYeah, that is good and we wanna share will communities
1. Our alpha version finished and inside tested weeks ago, which is proceed to audit , it will be done before the end of this week
2 we upgraded our official web days ago and will upgrade one more version next week ;
3. TGE will be early of next month ,depends on market and other situations as well
We may open the alpha product to community, it depends on communities feedback.
4. We will focus on ERC 20,firstly, which will add more assets, like AETH, RETH and Veth, we will add other chains as well, all of those will be done in Q1
5. We will develop our Polkadot grant in the meanwhile , and start Polkadot cross chain works in Q2.
Cryptodiffer TeamThank you for such detailed and interesting answers!
It is time to move to the community questions part.
Cryptodiffer CommunityDuring the start up of your project, what are the technical difficulties you faced and how did you overcome them?
Alex LamActually we works very good and no problems until we start the ETH 2.0 assets to merged into Stone. Because there are different kinds of ERC20 projects , contract with or without pos rewards are purely different. Our tech team conquered it and that is why our alpha version has the functions with ETH2.0 and more will come .
Humm ,I need my team help me, admin, could u allow they answer question ?
Cryptodiffer CommunityWhat innovations will Defi Stone bring in DeFi? Is there a difference in how you will build your own new DeFi ecosystem, what are your plans for the next few years?
Alex LamFirstly, we are the first one announced will release the staking assets to Defi world, staked assets is 10X times compared with current Defi assets. Secondly, we are using the Index idea to optimize risks and match different level people demands.Thirdly, we are totally using DAO to invite all community members to join the governance ecosystem together.
Cryptodiffer CommunityHow will your DAO governance work? Can you tell us more about it, especially I'm interested in how will it provide protection from users that will hold a lot of tokens and will try to influence the decisions unilaterally. Thanks
Alex LamOk, good question. We are positioned as open collaboration project, which means we will definitely incentivise community members to join the the governance process, all voters can share some stn rewards. In addition, we will like to set up the cap for initial phases of liquidity mining, which can help widely distribute the tokens the members. Regularly we will also host forums to have the community in-depth discussion. We welcome any talents willing to join stone as well and to build stone together
Cryptodiffer CommunityI really like that they involve the community to create a great project. How will you reward these brilliant minds that contribute their bit in the project? ... obviously apart from having at your disposal an incredible platform
Alex LamWe alrd have some community members working with the project alrd. If u are interested, pls join our tele chat and dm the admins.
Cryptodiffer CommunityHow does Stone assess risks and market volatility when choosing a strategy? For which assets will you enter the risk hedging index?
Alex LamThis is more particular to the index constitution, which we will like to introduce the risk based index, which can be understood we screen the constituents using the standard deviation. Pls feel free to read our litepaper re the index part
Cryptodiffer CommunityWhat's your long term vision about the industry you are working on. Technology is advancing at a rapid rate and are you afraid a better technology will arise that will topple Opher (Opher) ?
Alex LamActually , technique is just one part of Defi, we have the confidence on tech part , because we have RockX support , and more than it. Secondly,we have the better strategies for long term, and we see optimizing risk is more important than high APY, just like PJ answered on last question .
Cryptodiffer CommunityI didn't get your roadmap information on your website. What are Stone Protocol's plans for this year? When will your app launch?
Alex LamPls clear ur caches before logging into the website. I am sure that u will find out the roadmap information. https://www.stonedefi.io
Cryptodiffer CommunitySTONE, aims to work with ecosystem builders to create a highly liquid market for the tokens they bet on... In the face of this, is their liquidity from where it comes, independent? Or do you want to partner with "ecosystem builders" to acquire such liquidity?
Alex LamThis has several parts when working with partners or choosing partnerships. Let’s take liquidity as one example, as mentioned like stone is targeting at eth2.0 vaults / strategies, but there are multiple eth2.0 service providers which results in fragmented liquidity of liquid eth2.0, Stone has identified partners like ankr, stafi, bifrost, lido, to jointly launch the liquidity aggregation pools for all these liquid tokens, and we will further build the lending market place, coz essentially eth2.0 is 1:1 with eth
Cryptodiffer CommunityI would love to stake WISER, how does Staking work, what's the minimum amount of Opher I need to stake, the prospective annual returns and anymore information I need to know?
Alex LamWe will do step by step , we are going to extend the staked assets, like we are cooperating with different projects which issued assets, we will only cooperate with good reputation and high valuation projects to protect users. Anyway, We’d like to get feedback from communities, and we will do deep DD for all projects who are going to cooperate with Stone
Too many good questions , but hard to reply all once time
Welcome all of u come to our tele group and learn more about Stone
Cryptodiffer TeamThanks for your time!
Thank you to everyone who took part!