ACocount AMA Transcript

Cross-chain BTC yield aggregator

All Questions answered by Terry

Lola(AMA HOST): Can I have the team member of Acoconut Say hi?

Terry: Hey @DappRachel

Lola(AMA HOST): How are you doing Terry?

Terry: Doing well!

Thanks for organizing today’s ama. Excited to be sharing with you guys

Lola(AMA HOST): Glad to have you as well Terry 

Hope the day was fine 😊

Shall we go into today’s AMA fully?😌

Terry: Yes let’s begin!

Q1. Can you give us a general of you and ACoconut? Could you tell us your role in the project?

Terry: Sure

My background is traditional finance. Started building in the crypto space since 2018

I am the cofounder of NUTS Finance and ACoconut

Lola(AMA HOST): Traditional Finance. That’s good.

Terry: NUTS Finance is the development company behind the ACoconut project

ACoconut in simplest terms, is a BTC DeFi project. Focused on helping BTC holders achieve the best yield across different block chain networks

Q2. How many team members do you have working with you? And can you also tell us their roles?

Terry: We are a team of 12 currently

Divided between smart contract engineers, product managers, community builders and marketing

Lola(AMA HOST): How has been the experience so far?

Terry: It’s been awesome! Enjoy every single moment of it

as mentioned we started building in the space since 2018

Lola(AMA HOST): That’s good to hear

Terry: So it’s been a rewarding yet humbling experience at the same time





Q3. How is the Transaction fees in ACoconut?

Terry: We currently charge a 10% performance fees on Bitcoin deposited through the ACoconut platform.

Currently there are more than usd 25m worth of Bitcoin deposited on the platform

Bsc.ACoconut.fi

This is our bsc dapp

So far we have helped Bitcoin holders earn approx. USD 473k worth of Bitcoin on their deposits

So regarding to your questions

based on the Rebased earnings, we charge a 10% performance fees. Which is also collected in BTC

Lola(AMA HOST): This is really outstanding. I believe Smart work and commitment has made you achieved this.

Alright

Q4. Can you tell us about how ACoconut works?

Terry: Sure

Bitcoin holders can deposit Bitcoin or btc yield tokens to ACoconut. We put the deposits to work by allocating to various yield protocols. The yield collected are rebased into BTC. Therefore, depositors can collect the interests in BTC

Example: Alice mints 1 btcb+ with 1 btcb via ACoconut at the start of the month. The btcb is put to work by allocating into the Venus protocol. Interests collected are Rebased into btcb+. At the end of the month, Alice can see her balance grow into 1.0001 btcb+

In other words, ACoconut is the first positive rebasing protocol that allows depositors to earn interests in BTC unit of account and maintaining a stable peg against BTC






Q5. What are the benefits or Reward in ACoconut?

Terry: Benefit is btc holders can put their Bitcoin to work by earning BTC yield and AC yield

Btc yield is generated from underlying protocols

AC yield is the platform token of ACoconut

If you are a Bitcoin holders looking for optimal returns in a audited protocol. Look no further than ACoconut

You can track us on DeFi Llama

Q6. How many Partners do you have? And what do you expect from them?

Terry: These are our partners

just to name a few

We are working in tandem to build out the most secured btc defi protocol for btc holders

Lola(AMA HOST): Great! More than 5…

Terry: Our partners range from security experts, investors, btc  defi builders, Oracle solutions providers, and marketing firms

Lola(AMA HOST): Okay.

Q7. Can you tell us how ACoconut intends to help liquidity in the decentralized system?

Terry: Sure, ACoconut helps BTC holders generate a competitive yield on their BTC holdings

In other words, it is allowing BTC liquidity to be put into use most effectively

Effective in two ways:

1/ by generating Rebased interests in BTC unit of account

2/ by maintaining a stable peg against BTC so that it maintains composability with existing defi protocols

Therefore, ACoconut is aggregating BTC liquidity and enabling the liquidity to be put to work effectively

Q8. Can you share with our community the plans you and your project have for this year and the coming years?

Terry: Years is a long timeframe in this space

I can share the plans we have for the upcoming months

1/ ACoconut will be deployed on more blockchain networks

Currently we are deployed on BSC and Ethereum. Will be expanding our protocol to other chains

2/ Supporting more yield tokens

Which means more holders of yield tokens can deposit to mint plus tokens to enjoy Rebased earnings and composability

3/ we will be expanding the plus asset mechanism to other assets outside of BTC

Which means users holding other forms of yield tokens can also mint plus tokens to enjoy rebased earnings and composability

Q9. What are the major challenges of ACoconut and how do you intend to solve them?

Terry: To be honest we are a pretty well rounded team and we are confident in our product

One of the areas which we are constantly trying to improve is the narrative of our project

Finding the right narrative for mass market to understand quickly is what we’re fine tuning all the time

Despite the traction we have built, ACoconut has not reached critical mass yet

With the upcoming feature release, new security audit partners, we believe we can further reach mass market adoption







Q10. Share with us all the links about ACoconut, so that readers can find out more and also follow the development of the project.

Terry: ACoconut Useful Links

About ACoconut

ACoconut is a BTC DeFi protocol suite designed to enable frictionless movement of BTC liquidity between decentralized systems. The ACoconut protocol suite consists of BTC+ and acBTC, powered by NUTS Finance.

Useful Links

Website:  

Github:

Twitter:

Discord:

Medium:

DeFi Llama:

DeFi Pulse:

Q11. Lastly our favourite question, do you have any alpha or juicy news for us in BSC News today?

Terry: 1/ ACoconut v2 beta testing is currently ooen on ethereum currently. Participate to earn AC airdrop

2/ as mentioned we will be expanding the plus asset to other asset classes. This would mean adding more composability and yield for assets outside BTC and servicing more holders 🙂

The new features will be deployed over the course of the coming month

so stay tuned 🙂

Lola(AMA HOST): Great work from Acoconut. A lot of plans. Hope to see them soon

Thank you for this great AMA.

Terry: Thanks for organizing once again

Source : bsc.news

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