06 Oct 202102:13
Structure AMA Recap
Myko (CryptoDiffer)Hello, everyone!😁
We are glad to meet here:
Serge Levin, Founder
Serge LevinHello everyone! Excited to be here!
Myko (CryptoDiffer)Welcome Serge, thank you for taking your time today!
Our team has prepared some questions for you to start with
can we start?
Myko (CryptoDiffer)Let's start with the introduction
Q1: Can you introduce yourself to our community?
Serge LevinMy name is Serge, I am the founder of the Structure.finance project. Prior to this, I worked for over 20 years in traditional finance, managing structured product issuance and trading. I was a quantitative trader at Point72 and managed structured product portfolios at Nomura, CitiBank and Morgan Stanley. So this is a natural next step for me.
We started Structure.finance about a year and a half ago, with the aim of bringing the structured product framework to the crypto ecosystem, specifically DeFi. Took us a bit of work but here we are.
Let's move on to the project itself)
Q2: Can you introduce Structure Finance to us?
Serge LevinStructure.finance is a platform that supports the origination and management of different structured financial products.
Structure.finance brings easy-to-use framework for creating structured financial products linked to cryptocurrencies or cryptotokens. Several of the products are already developed at this stage, offering the community new ways of trading cryptocurrencies and profiting from volatility.
Myko (CryptoDiffer)thanks for the answer
We have one last introductory question left
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?
Serge LevinWell, over the past year and a half, we did a lot of work to build a self-consistent platform that is flexible and can support a variety of payoffs.
Recently we launched our DNT (double-no-touch) product in beta. Pretty easy concept - you get paid if USD/BTC stays in a range for a short period (right now 1 hour but we are switching it to 5 min soon), so if nothing happens, you win. You know, make it exciting to be bored :)
we are also getting ready to push out two new products very soon:
- the project token yield wrapper that would allow people who hold project tokens to write covered calls on them and collect high yields
- VIP (Volatility Income Pool) vault that would allow people to bet on short dated volatility in ETH and WBTC without trading options
Cryptodiffer CommunitySo many projects just like to speak about the "long term vision and mission" but what are your short terms objectives? What are you focusing right now?
Serge LevinWell, long term vision is nice but everyone gotta eat today :) so we are going out with several products that will address various needs within the community. First, is Double No Touch which is a super-short dated product for active traders. Then there is Project Yield Wrapper which is a product for people who are holding tokens in specific projects and want to monetize them meanwhile. Finally, our flagship product is VIP, Volatility Income Pool where you can profit from selling volatility in mainstream crypto.
Cryptodiffer CommunityDo you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable???
Serge LevinEvery product we push out will undergo a proper security audit. In fact, the two products that are going live are being audited right now.
Cryptodiffer CommunityMy question is about your long term marketing plans. How, or through which big partnerships do you plan on utilising to pass your product onto the normal - especially non-crypto people?
Serge LevinWe are finalizing several marketing partnership agreements, with centralized exchanges and high profile defis. This said, nothing is final and I'd rater avoid naming specifics so I don't jinx it.
Cryptodiffer CommunityDo you have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to invest?
Serge LevinAll structured products built on our platform will include a token buy-back component. The token is held in reserve in case of emergencies like collateral shortfall, but if nothing happens it just stays there. So effectively it is burned.
Cryptodiffer CommunityCould you tell us some details about the implementation of Chromia as a Layer-2 enhancement for Ethereum? What problems from the Ethereum chain are you aiming to solve and what extra-advantages does it brings to your ecosystem?
Serge LevinThe platform and the products are chain-agnostic and we intend to go where there is liquidity and low costs. Obviously, Ethereum is very limited in terms of speed and cost, so Structure.finance is also integrating with layer 2 protocols like Chromia to provide better user experience for trading on Structure.finance.
Cryptodiffer CommunityWhat is your plan for global expansion? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?
Serge LevinWell, the general idea is to build a global community focused on structured products that not only provides access but also offers education (tutorial, chats, trade ideas) and even crowd-sources the idea for new products. To get there were are taking a muti-faceted approach - social marketing by parterning with groups like this one, regular social medial like youtube or twitter where we gonna offer news and tutorials etc. Finally, we are going to partner with several established players to co-sell our products.
Cryptodiffer CommunityWhat are the competitive advantages of your project? What advantages do you have over competitors? What would be your project secure most similar contender in the market today in terms of scalability, security, features, and adaptability?
Serge LevinUnlike other players in DeFi structured product or option space, we bring combined 50 years of traditional finance experience and good understanding of the products/risks involved. So I am sure we can push new products faster and manage the process better. Most importantly, we are building a very flexible platform which can accomodate new payoffs and products rapidly - so we can crowdsource ideas and pivot to them very quicklu
Cryptodiffer CommunityWithout an working products any idea has zero value. We see many projects are on paper only and no product. So, kindly ensure us that your project is just not an idea and it's already has an working products or practical usecases?
Serge LevinWell, we already have a beta version of our Double No Touch product out, you can see it here: https://structure.finance/dnt/ . The other products are getting ready to be released as we speak and will be out very soon. I am especially excited about our VIP (Volatility Income Pool) product which is essentially a volatility exchange for cryptocurrencies.
Cryptodiffer CommunityNearly 80% of investors only focus on short-term token price instead of understanding the real value of the project. Can you tell us the motivations and benefits for investors to hold your tokens in the long term?
Serge LevinWe are trying to make a utility token that will be beneficial to the holders in the long term. First of all, there likely will be a profit-sharing feature so long-term profits of the platform will be shared with the token holders. Also, since all products have a buy-back feature so the token will increase in price as the platform popularity grows. Finally, there is a plan to expand our footprint via collaboration and ambassador programs.
Cryptodiffer CommunityRecently You partnerd with Hedget, How will Hedget help Structure finance in its Trading Products?
Serge LevinStructured products have a natural similarity to vanilla options so partnering with an existing decentralized protocol made a lot of sense to us. To enable this partnership, the Hedget team is working on system updates that will expand the functionality of both the interface and API. These expanded functionalities will allow for several new features which are useful in structured financial products including short term options, multi assets, and built-in lending functionality.
Cryptodiffer CommunityWhat is PROJECT's revenue model? In which ways do you generate revenue/profit?
Serge LevinThe general idea of Structure.finance is that it provides an interface between the structured product users and structured product hedgers. The main source of revenues are trading fees paid by the hedgers/market makers. Since hedgers (essentially market makers) build in some profit whenever they offer any structured product, it makes sense to charge them while the community users are able to trade for free.
Cryptodiffer CommunityWhile you build your project, do you take into account community feedbacks and demands?
Serge LevinThe general idea is to build a strong community focused on structured products. So we are engaging communities globally to bring people together. We will crowd source ideas, vote on fees and changes in payoffs etc - as well as the token holders will get a share of profits from the platform
Myko (CryptoDiffer)Thanks a lot for the ama!
Serge Levinthank you!
was a pleasure to be here!