On the 26th of March, TAG community has a
Telegram AMA with Seaweed Finance.
At the AMA, Coke, CTO of Seaweed Financeand introduce and share many Interesting information about Seaweed Finance.
– Place : https://t.me/TAGVietnam
– Time : 20h00 (UTC+7) March 26th, 2021 at https://t.me/TAGVietnam
– Airdrop : 20 SWF/winner
And here are the key takeaways of the AMA:
TAG: The AMA would be happened as follows
Segment 1: Greeting and Introduction.
Segment 2: Answer the closed questions from community (5 questions)
Segment 3: Live Q&A session (5 questions)
Tag : Yes, Let’s start with segment 1: Warm up
First, could you please introduce your team and Seaweed Finance?
Seaweed Finance : First thank you so much for the opportunity.I been in the space since 2011.The many jobs including investing auditing and running projects as CTO. At Seaweed We are a group of highly skilled professionals from research institutes, web security companies, and Wall Street trading firms. The shared belief of new financial infrastructure will build on a new type of technology that improves efficiency, anti-censorship, and promote financial incursion on a global scale united us. We also think DAO is the future of how humans collaborate with each other, hence, the Seaweed foundation will be operated in a fully decentralized way. Step by step, the foundation will hand over the control back to the seaweed community (SWF Token Holders). Instead of putting our personal ego in front of the public, we decided to hide our identity and let the public focusing on what we built. A short bio of the core team: Sandy Cheeks: Ex – C suites executive from one of the top three crypto exchanges, with years of fintech experiences. Wall Street veteran, Ex CEO of several public listed companies. Mr. Krabs: the rainmaker Trader: Ex – Wall Street Trader, managing Billions!! Graduated from IVY league and super risk-averse, perfect designer for the pricing model. Plankton: The Smartass: mathematician from the top one university, the mastermind behind all the new inventions. Patrick Star: Hacker since 15, CTO of top auditing company in the crypto space, able to fix any bugs and drink a lot of beers. Currently under diets. SpongeBob: CEO: A programmer who doesn’t know how to build a rocketship is not a good investor. Serial entrepreneur, self-made CEO.
Tag : What are the competitive advantages of Seaweed compared to other projects?
Seaweed Finance : We are building a solution to address the lack of liquidity issue in the crypto options space. In our case, we are building an option liquidity trading pool upon realizing the shortage of existing product. The initial SEAWEED project will be built on HECO utilizing both facts that L2 are fast/cheap enough to run and also the DeFi ecosystem on HECO are lacking of such option trading products. We are aiming to providing a better priced automated option trading tool in DeFi. On top of that we are also using automatic marketing maker To provide liquidity to the system. as long as people are betting on our platform, they won’t be any liquidity issues, compare to other centralized exchanges.
Tag : Now please share with us some new upcoming events, as well as big partners Seaweed Finance has been working with during its development period.
Seaweed Finance : It is actually a very exciting time，Our product is under t beta testing, Application code is also under auditing review. We just signed up with one liquidity service providers, And one decentralized exchanges.During the development we have the full support of Certik on the security end And Huobi’s tech team to help us with Specialize nodes. In a few days after launching our application, We will be working with more decentralized exchanges on liquidity mining. So look out for our products launch. It will be happening later this month or early April.
Tag : With this segment, I think that our members can understand more about Seaweed.
For more information, we will turn to Segment 2: Answer the questions form Twitter
First of all, I would like to say thank you to Tag’s members who have sent many questions about Seaweed Finance to us.
Tag : The first question: The majority of crypto projects are built for the purpose of increasing their own assets. So I want to know what value SEAWEED FINANCE want to bring to the crypto industry?
Seaweed Finance : Just trying to emphasize what I said, The value of a token is back by the underlying utility of the ecosystem. Decentralized finance will be the future，We are seeing from wall street To Singapore，All the governments or institutions are trying to get into the space because they think it is revolutionary. With uni sushi swap We are clearly at stage one of the transformation. Option and derivative Its number of magnitude larger than the spot market. And we are just building a piece of it which is much better than existing solution. And waste full support of Heco, We can make something really big.
Tag : Many DEFI projects are in a hurry to release products with serious errors in the smart contract. Have Seaweed Finance performed audits by third parties? Do you think the your system is safe enough against hacks and hacker attacks?
Seaweed Finance : Safety has always been our first concern when speaking of DeFi. Seaweed has business cooperation with Certik, one of the best audits in the world. In the meanwhile, the developers in our team are also prodiving 3rd party audit works before they joining Seaweed. We are confident that Seaweed, when released, would be safe enough speaking of error faults. Speaking of Attack, we will be using a mixed Oracle data feed making our liquidating mechanism safer speaking of flash price manipulation.
Tag : The next question: Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to your platform and keep them long term?
Seaweed Finance : We are promoting our project through trusted community members and investors, therefore our community has strong faith with regard to the project. In the future, we will cooperate with major DEX exchanges, introduce the liquidity and user base of centralized exchanges, open liquidity pools, mining, and promotions for the project development. In the meanwhile, the pricing model/Product interface will be evolved in time to make sure Seaweed is always up todate. We are hoping to become Deribit and Bitmex in the DEFI world.
Tag : The 4th question:
– Increasing Token price
– make Token Valuable
– Building Community
Trust From 3 aspects above, I want to ask, Which one the most important for team SEAWEED FINANCE? If all above are important for team SEAWEED FINANCE, Which one that Will team SEAWEED FINANCE do first?
Seaweed Finance : We want to make our token valuable, which means there will be real demand for Seaweed toke, and it will generate true and real value for this world. Of course at first, We need to build the community with our phase 1 product first. After launch our phase 1 product, we will roll out related improvement based on the feedback from our community, it is the similar mindset in the whole internet industry, the more users you have the more valuable your business will become. At last, We do care the price the token trading on the market, but we also believe it should definitely worth the amount you are seeing.
Tag : And the last question .
Could you please tell us just a little more about the team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes?
Seaweed Finance : We are very experienced team, We have done project before and we also invested, adviced a lot of projects. Including many top fifty market cap companies. We know how market will react based on every action we take. That’s why we hired the best security team working with the best exchanges, and also the largest community in each region. We want to build something that last, and pushing the industry forward. So we also invite you to join us, To be an external partner, We understand that every one of us has a special strength, Together we can build a better decentralized future of finance.
Now we turn to Segment 3: Live Q&A session (5 questions)
Tag : Most DeFi projects especially those ones offering yield farming are driven up by hype and scarcity, so when the hype dies the project dies. What’s the key to sustaining Your Project yield farming ?
Seaweed Finance : we have a three year release plan，Also our elastic price offering Provides a degree of defense against Market manipulations. We will not accept pumping and dumping，We want the value of the token grow as the utility growth. We will use the liquidity mining as a tool to Incentiv，the community to provide liquidity.
Tag : How is SEAWEED development going? Can you describe in detail current development efforts, market expansion plans, expected applications, and when will they become commercially available?
Seaweed Finance : the product development is It’s done, Our token holders and community leaders are already start testing in test net. We will be launching as soon as possible. Most likely next week.
Tag : Can you list 1-3 killer features of SEAWEED FINANCE that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Seaweed Finance : 1. AMM liquidity
2. Top security auditing firms
3. Most experienced team from Both traditional financial world and crypto geeks.
Tag : Governance is one of the topics most paid attention by the communities, how does SEAWEED FINANCE plan to exploit this topic?
Seaweed Finance : The future of
organizations will function dramatically differently from how our society
operates nowadays. With 5G, AI, and satellite Wifi, the entire human race will
be more connected than ever. Limitation on geolocation no longer bothering us,
the physical borders of countries and the definition of companies are being
challenged more often than ever.
The sole purpose of this organization is trying to build a new generation derivative market that can bring fully-decentralized and easy-to-use financial instrument to the public, so no matter what the person’s nationality, professions, races, and geolocations, he/she can all benefit from the new financial system which is built on top of the world’s leading blockchain technology.
To participate DAO, we break it into three phases:
Phase One: Infrastructure Decentralization
Foundation led development and expansion
Code is open source and welcomes all contributions
Phase Two: Operation Decentralization
All trading parameters will be decided through voting contracts
Rewards, bounty, and foundation funds are disbursed through on-chain voting
Phase Three: Management Decentralization
Allow community vote on all issues related to operations.
Transfer the contract ownership and allow the community to control every step of the platform development
So we need your helps If you feel like you want to be apart of this organization And resolution Please join US as community manager https://medium.com/seaweed-finance/the-launch-of-seaweed-tsunami-recruitment-plan-d9f03aefce9d
Tag : Do you have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to invest?
Seaweed Finance : we designed a system call elastic price offering. you can
check out https://epo.seaweed.finance/reward. Elastic Price Offering = Providing token liquidity +
Incentivizing community through Airdrop.As the number of tokens sold increases,
the price of SWF/HT will increase, which provides early adopters more
incentives. With Elastic Price Offering, all SWF tokens sold during the process
will be 100% backed by the value of underlying HT tokens. All HT tokens raised
through this process will be locked in the contract. SWF Token holders can sell
their token back to this contract and redeem HT tokens at a calculated ratio.
Through this mechanism, We can do you should our token to real users and filter out pump dumper.
As soon as our product launched, SWF Will be able to used earns transaction fees of options trading. Which can be significantly more profitable than simple liquidity mining. We are creating real usage，And utility of our platform will support the token value.
Tag : Thanks so much for taking your time with very detail answers ! Hope that TAG would be the great partner in Vietnam. I believe that Seaweed Finance will be hopeful project
Seaweed Finance : Thank you hosting me in your wonderful community