The next Best #defi platform on #Binance Smart Chain
All Questions answered by Paul
Lola(AMA HOST): Can I have the team member of Xpool say hello?
Paul: Hello everyone
Lola(AMA HOST): Hi Paul!
How are you?
Paul: Hi Lola
I’m great and very excited to be here
Lola(AMA HOST): We are glad to have you too 😊
Shall we go into what the question segment now?
Q1. Can you give us a general introduction of you and Xpool? Could you tell us your role in the project?
Paul: Yes, firstly, I’d like to thank everyone @newsbsc for giving us this opportunity to participate in this AMA, it is my absolute pleasure to be here with you all today
So a little bit about myself here before we get started
Currently, I am working as CMO of XPool project. My role is working to expand the vision and influence of our project to other communities.
Lola(AMA HOST): Thank you too Paul.
Paul: As you may know, Xpool is an open-source liquidity protocol built on the Binance Smart Chain, which allows users to borrow assets from the platform and adds liquidity to the exchange by depositing assets into Xpool, thereby fostering higher potentials to earn profits from assets
Everyone calls us ‘crypto lending’, but there’s two very distinct and separate businesses: interest income and lending. Users come to us, maybe for earning interest and they don’t need a loan
Users used to keep their coins in cold storage or on an exchange, which pays no interest, whereas we pay our users part of what we earn on such deposits. Now, everyone can connect with Xpool and earn high interest income
Lola(AMA HOST): Good. Thanks for the clarification.
Q2. How many team members do you have working with you? And can you also tell us their roles?
Paul: We have a team of 30 members with profoundly knowledgeable and experienced in Defi field. Any of our team members have worked in the industry as technicians and partners from the beginning
Any of our core members have been involved in the crypto community since Ethereum’s first products were released
To develop Xpool, we have research about the potential of the Defi market as well as the problems related to the technique aspect, especially the AAVE system. We found that Ethereum now has a problem with network congestion and gas fees soaring, so we have decided to clone AAVE to Binance Smart Chain to solve all of those problems
Beside, all details of the team will be published soon. We are working on the company profile
Lola(AMA HOST): All right. That’s good. Great work!
Q3. How is the Transaction fees in Xpool?
Paul: Well, the transaction fee is super low. This is also an advantage of Xpool than Aave. Beside that, BSC supports high speed transactions. Both low cost and high speed transactions make us more competitive than any other competitors. A transaction cost around ~$1 at this moment compared to a few hundreds bucks on AAVE
Q4. Can you tell us about how Xpool works?
Paul: Sure
Xpool has some functions such as Lending, Borrowing, Staking, Governance, Flash Loan,…
Let me explain more
Lending: By depositing in Xpool, users will earn an attractive annual interest as the passive income
Borrowing: Users can borrow assets without negotiate terms, maturity date at a suitable interest rate
Staking: By staking $XPO on Xpool protocol, you can receive XPO and also other top coins.
Governance: XPO holders can post and vote on proposals to change almost configuration and variables.
Flash loan: Flash loan is uncollateralized loan
Flash loan is the financing wonder
And much more than that, you can follow our docs and twitter to find more details
Lola(AMA HOST): Great!
Q5. What are the benefits or Reward in Xpool?
Paul: Yeah , you can get XPO, and many more assets when involving into our platform with a high incentive mechanism
Q6. How many Partners do you have? And what do you expect from them?
Paul: Until now we have close partnerships with LaunchZone, Sowing network, Ezdefi, BSC.tool. LaunchZone heroes will be our strong advantage for us to spread Xpool to crypto market
We have just announced our partnership with Verichains. Verichain Lab has a world-class team with extensive research and development expertise in the areas of security, AI and blockchain technology. Having Verichain on board means having strength of top-notch security experts to care from architect design to cybersecurity consulting
Besides, We built the strong partnership with 6 top-notch blockchain ventures to provide the liquidity, we also ongoing partnership with commercial bank, capitals to provide loan not only to crypto world but real life community to provide low cost loan, for example we are working with a bank in south africa to provide loan to rural area communities
We have a massive business development plan that not only focus on crypto market but also bring it to the real life where people really demand it
Lola(AMA HOST): I believe your experience with Verichains has been great.
Q7. Xpool is a fork of Aave, can you tell us about it?
Paul: Actually, AAVE is a perfect DAO. we clone their core features carefully to make sure that we are on the same security page and get cover by state of the art security firms like Certik,…
Beside that, the first step we develop many features around the core protocol to help people easier to use. For example, in aave only super power users or tech firms could programming the liquidity bot to do the liquidity for the prototal, but in Xpool, we make a feature name liquidity market, where we show all the non collateral loans to a view which any user could connect their wallet and do the liquidity
Also we clean all the old stuffs of aave (migrating from ethlend to aave_v1 to aave_v2) to save blockchain cost for users. Btw, we also develop an inhouse wallet called Defii which integrates all the protocol features to the app, this helps people to control their investment, loan natively on the mobile app, bank in your pocket
Lola(AMA HOST): That sounds good. Choosing carefully…
Q8. Can you share with our community the plans you and your project have for this year and the coming years?
Paul: Of course
On May 8th, 2021, Xpool mainnet will be launched with great functions, including: Flash Loan, Staking, Safety Module, Governance, Farming (Staking LP)
For this year, we also have plan for launching our main functions as below:
May, 2021: Liquidity Market, Inhouse Wallet
June, 2021: Loan Aggregator
July, 2021: Partnership with two ventures
September, 2021: Xpool Auto Farm Optimized
December, 2021: Dega (Decentralized Gaming Protocol)
For more information, you can check our pitchdeck via this link
Lola(AMA HOST): This is nice, can you tell us how the Farming and staking would be?
Paul: yeah
For all Xpool farmers, you can farm XPO on Pancakeswap
Besides, we will launch our in-house Staking module on mainnet today (23:00 UTC 5/5/2021). This module supports staking single XPO, XPO/BNB LP v2, XPO/BUSD LP v2 earning XPO (and more tokens when protocol goes live) with high APY. Hold your XPO and LP tokens tight, the first comers always get huge profits
Q9. What are the major challenges of Xpool and how do you intend to solve them?
Paul: Our major challenge is to expand to the traditional market, where the transitional banks conquered already for a long time
And we are trying to be the bank traditional killer
Q10. Share with us all the links about Xpool, so that readers can find out more and also follow the development of the project.
Paul: Yess
Our pitchdeck:
Please follow these channels to keep up date with latest news
Q11. Lastly our favourite question, do you have any alpha or juicy news for us in BSC News today?
Paul: Yes, we will burn at least 50% of our token to calibrate the platform. And we are about to be listed on a top-notch exchange soon
Lola(AMA HOST): Wow! Thank you so much
It was ready a nice AMA with you.
The Transcript for the AMA would be announced soon.
Source : bsc.news
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