OIN Finance AMA Recap

OIN Finance AMA Recap

CryptoDiffer team

Hello, everyone!

We are glad to meet here 

Renard Zhang (CEO of OIN Finance) @renardzhang

Marketing Director at OIN Finance, Daniel Kwak

Hello everyone, it’s a pleasure to be here

We’re very excited about our recent developments such as our BitMax listing, and we’re all very excited for what the future holds

CryptoDiffer team

Q1: Can you introduce yourself to our community ?

Marketing Director at OIN Finance, Daniel Kwak

Of course! I’m not as public as Renard yet, but my name is Daniel Kwak. I’m currently the Marketing Director for OIN Finance.

I also have worked in the tradiitional finance industry, in the equity analysis and fundraising fields. I transitioned into consulting, starting with project consulting, then moving on to strategy for blockchain and traditional companies. It all revolved around technology, and I was always very excited to work with startups. 

That brought me into the blockchain industry, where I served as a Business Director of Oversea Markets for a while, then moved into OIN Finance quite recently

CryptoDiffer team

Q2: Can you briefly tell us what is OIN in 3-5 sentences?

Marketing Director at OIN Finance, Daniel Kwak

Haha the quick and dirty version?

We will become the gateway to DeFi, as our mission states.

By utilizing cross-chain technology to unlock trapped value within the whole of the crypto space and not limiting ourselves to ETH, we will build a foundation that integrates and leverages the value of cryptocurrency, starting with our DEX and liquidity pools, to lending on OINLEND.

CryptoDiffer team

Q3: Let`s now talk about the milestones you have achieved and about your upcoming plans?

Marketing Director at OIN Finance, Daniel Kwak

Just in the past week, we have listed on some of the most visible and most exciting exchanges. BitMax for example, is a leading exchange we’re just elated to be listed on. By being accessible to so many users around the world, we are truly getting our start in becoming the gateway to DeFi. To become the gateway to a whole industry, you must be accessible, and there must be easy ways to interact with the system. BitMax gives us that platform to really start reaching users one way or another. We’re also on UNISWAP, and other exchanges, covering a vast network.

Our future is something that really is humbling, yet exciting. Our first product, OINSWAP Pool V1, will be released quite soon, within the coming weeks. It will be the first DEX with liquidity pools on the ONT network, and everyone seems to be excited about the potential it can offer. The OINSWAP will expand into V2, where we will be utilizing the crosschain technology mentioned earlier, allowing the staking, trading, and pooling of the most popular cryptos out there, such as ETH, and as per our recent announcements Qtum, Elrond’s eGLD, and may more. This is what we mean by unlocking the trapped value. We are offering a way to take part in DeFi for those outside of the ETH ecosystem.

The other products, OINLEND, OIN-DAO, our wallet, and more will be coming later on as well. We plan to do quick launches, and we will not be dragging our feet in building our products and ecosystem. We’re all excited that everyone has taken such an interest. We can’t wait to have it in our user’s hands

CryptoDiffer team

Awesome, a lot of updates to come out!

Thank you for great answers!

I think it is time to start community questions round!

Cryptodiffer Community

Now OIN Listing in BitMax.

 Which markets are you targeting Next?

are there any plans for listing on other exchanges, like Binance,Kucoin,,etc???

Marketing Director at OIN Finance, Daniel Kwak

We are always looking at how we can help everyone in the crypto community reach our platform. As crypto is such a world wide phenomenon, it’s hard to truly reach everyone at the same time. We are of course always trying to find the best way to get everyone on board, so we must see just how we can reach out to our users. 

Cryptodiffer Community

What is the spotlight of OIN Finance to convince users to invest in long-term investments?

Marketing Director at OIN Finance, Daniel Kwak

I take it you’re asking what incentive are we giving OIN holders to hold long-term? It’s very simple. I will likely refer back to our mission statement quite a few times, but it is because it works in so many ways. Becoming the gateway into a whole industry is not something that can be done overnight. Building out an infrastructure for all of DeFi, and leveraging the value of cryptocurrency, doubly so. Although our products can come quickly, our true mission can only be realized by a long-term leveraging of our value proposition. if you like our mission statement, you like our long-term value

Cryptodiffer Community

Q: Which specific about technology and strategy of OFIN that make you believe it will be successful and what does OFIN plan do to attract more users in the upcoming time?

Marketing Director at OIN Finance, Daniel Kwak

Many projects offer one form or another of our various products. They often focus on one thing, or one platform, or a many whole host of value props that seem quite in line with us.

What sets us apart is again, our mission. Gateway to DeFi.

We are trying to build the foundational layers for DeFi itself in the crypto industry, for it to be recognized as more than ‘just a fad’, in many people’s eyes. We want the DeFi space ITSELF to become something greater, and to grow. That is why i know that even though sometimes our technology, our products, or offering may seem similar, we are very different.

Even though these things may seem similar, the resulting product will be different in sometimes small, but always highly significant ways. Our whole package is something unique

Cryptodiffer Community

What plans does OIN have to partner with large lending protocols such as Maker Dao or dYdX Debt Collateralized Debt Positions (CDPs) to try to extend the user position liquidation protection feature?

Marketing Director at OIN Finance, Daniel Kwak

We are always looking for partnerships and ways to improve not only our ecosystem, but the various products offered in DeFi to grow the industry itself.

We’re incredibly aware and cognizant of the great many products and services that the DeFi space is missing compared to the traditional finance industry. DeFi doesn’t have to offer everything that the traditional industry does, but it’s always good to seek out what can be used on DeFi, and what value blockchain may offer some for these applications.

By keeping aware of this, we are seeking different ways we an partner with projects such as Maker Dao. As of now, we believe our system laid out in the whitepaper is solid in terms of liquidiation protection, but we will definitely keep an eye on developements to see where we could improve

Cryptodiffer Community

What was your Motivation to build #OIN ?

and what is your vision and mission now?

Marketing Director at OIN Finance, Daniel Kwak

I think a good portion of the crypto community, or at least the DeFi community are highly aware that DeFi is concentrated into the ETH space. For the purpose of growing DeFi however, having it rely entirely on one network isn’t too good for its long-term growth. I think we see the value in reaching out to other blockchains, and building the bridges that’s needed to really allow DeFi to flourish, and make it something that’s more than just one network’s application

Cryptodiffer Community

1. I have a question on your initial vision and the goal of this startup. When you say that your technology with OIN empowers mass adoption, how does it?

 

2. I see DeFi are viral today. What do you think of the DeFi Market, do you think it is promising?

Marketing Director at OIN Finance, Daniel Kwak

1. Our mission statement is in three parts (I know, it’s kind of cheating): become the gateway into DeFi, help promote the space, and help the DeFi space grow to maturity.

Our technology, the bridging, being on ONT, etc. is all aimed in that regard. We are becoming the gateway, the place to start and access DeFi in the crypto space. to become that, and to promote and mature DeFi itself, we need to get DeFi to a place where it’s comfortable and stable as an industry. Doing so will legitimatize DeFi in the public’s eyes, and this, being one of the big hurdles to mass adoption, will help the average person more easily accept the technology.

2. We think DeFi is great! That’s why we’re in the industry! Haha but more seriously, it’s at a crucial time in its development. It’s blooming, it’s viral, and it’s the talk of everyone in blockchain. It’s garnered so much attention that non-blockchain people are talking about it. It’s at times like this that we must show the world that yes, we’re here to stay, we’re not a fad, and we’re an industry you can trust, because we have true value. This is why we must push hard to develop the technology and surrounding infrastructure, and become something that they can see as a proper industry and technology. And that’s what we’re here to do

Cryptodiffer Community

Right now, users have a ton of choices for lending services. Why should lenders pick OINLEND? Phrased differently, what makes OIN Finance better than its competitors?

Marketing Director at OIN Finance, Daniel Kwak

Yes, there are many lending platforms. But how many of those offer staking various different types of cryptos, such as ETH, eGLD, and ONT? And of those how many also offer a stablecoin, a DEX, and liquidity pool?

Our product lineup has synergies within its own ecosystem. For example, why do we love the Apple Store or Google Play Store? Because it’s the one stop shop where you can get your apps. Their payment services, doubly so. This is what we offer. You can come to us with whatever coin you have (we plan on expanding our supported coin list), and with it access the most popular DeFi products on the market all in one place. This is only if we don’t have any more partnerships. We aren’t only looking to expand on business partnerships according to our vision (which is very important, otherwise why would we exist as a business?), but we are also looking to the community to see what you all want. We will be offering what the DeFi space demands for its next steps, right in our ecosystem. How they interact and synergize with each other depends on how our users leverage the synergies, and we can’t wait to see what develops

Cryptodiffer Community

What future developments of OIN Finance, in your opinion, will be the most attractive for large organizations?

Marketing Director at OIN Finance, Daniel Kwak

If you’re speaking of institutional clients, that’s a very tricky question. At the moment, the financial industry is at a standstill in terms of regulations. There’s basically a giant wall between us, where it’s difficult for us to interact with each other. That doesn’t mean that we can’t set plans for the future, and at least envision how we can work together. THAT specific question though, must be seen in regulations. If we see that regulations are heading one way, we may start putting into actions our plans for that scenario, and of course pivot if a different scenario pops up. 

As for governance, it’s quite simple. There will be an OIN-DAO, with the OIN coin being the governance token. You will help shape our company in many ways, such as helping to stabilize our tokenomics. Details can be found in our white paper

Cryptodiffer Community

Which version of OIN is better to use V1 or V2 and what are their differences in terms of functionality?

Marketing Director at OIN Finance, Daniel Kwak

V1 and V2 will depend on which coin you want to use, and which coins you want to trade/pool. V1 is specifically for ONT, and V2 has bridges, allowing ETH, eGLD, and others to be used.

Cryptodiffer Community

Ethereum is more popular than Ontology, so why is OIN Finance supporting only Ontology?

Marketing Director at OIN Finance, Daniel Kwak

ETH is the dominating platform in the market right now, but it’s gotten too big to function smoothly. For example, transaction fees and network congestions are killing a lot of applications. Yes you can say 2.0 is coming, but when? And can it really support the whole industry? For how long? And what if there’s an inherent problem with putting all your eggs in one basket?

That’s why (and to answer your second question), we aren’t limiting ourselves to one platform. We aren’t ONLY supporting ONT. We’re just starting with it. You’ll be able to pool, lend, or however you wish to interact with us with ETH as well. We are truly going to open up the DeFi space, and integrate DeFi into the crypto space itself.

Cryptodiffer Community

How important is the community to the OIN Finance team ? and how can we collaborate or help OIN Finance for the development of the project?

Marketing Director at OIN Finance, Daniel Kwak

Any blockchain project is nothing without a good community. At least the public, non-strictly-B2B projects anyways. For us, we are nothing without our community, just as how the community wouldn’t be an OIN community without OIN and our products.

Because it is a symbiotic relationship, we understand that we must grow with the community. We understand that with you all here, with you cheering us on and helping us get our feet off the ground, it will be the foundation on which we spring to life, and head off into the world of business. Just by being here, talking to us and about us, joining our group, keeping updated on OIN news, using our products, and (hopefully) telling your friends about us, you are a vital part of our community. Tell us what we can improve on (in a nice conversation), and we will improve with you (with all our might). Grow with us, and that is how we collaborate.

Marketing Director at OIN Finance, Daniel Kwak

Thank you everyone, for joining us today.  It truly was a pleasure to answer these insightful questions, and introduce myself into the world as OIN’s marketing director. We’d love to see you in our group as well, and we hope our community can become a part of yours too.

To keep updated on our progress, follow us at:

Homepage: https://oin.finance

Medium: https://medium.com/oin-finance

Twitter: https://twitter.com/FinanceOin

Telegram: https://t.me/OIN_Finance_Eng

GitHub: https://github.com/timingex/oin

E-mail: team@oin.finance (team@oin.finance)

Cryptodiffer TEAM

It was very insightful!

Thanks for your time @OIN_Fin and big thanks for the community for awesome questions!

It was a pleasure=)

Spread the love
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
CryptoDiffer Admin
query2212@gmail.com

Leave a Reply

Your email address will not be published.