On the 2nd of April, TAG community has a Telegram AMA with Clover Finance.
At the AMA, Ms. Norelle Ng – Cofounder of Clover Finance introduce and share many Interesting information about Clover Finance.
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: Let’s start with segment 1: Warm up
I would like to introduce Ms. Norelle Ng – Cofounder of Clover Finance.
Hello @norelleng! Could you please introduce your team and Clover Finance?
CF: Clover Finance was initiated by me and a few of my friends who also have a computer science background and couple years of experience in the Blockchain industry. We all believe that future liquidity shouldn’t be limited to one single public chain especially when the current Ethereum defi are either too slow or expensive. Therefore we started Clover Finance. Clover is a foundational layer for cross‑chain Compatibility. Its built for Polkadot and committed to providing easy‑to‑use blockchain infrastructure and creating a one‑stop EVM compatible framework for Substrate‑based applications.
TAG: What are the competitive advantages of Clover Finance compared to other projects?
CF: One of the main advantages our platform has over other EVM-compatible polkadot parachain candidates is the technology behind 2-way pegs. We have created a trustless 2-way peg bridge between Ethereum and Clover assets, as well as working towards a trustless bridge for non-turing complete blockchains like Bitcoin. This will allow significant liquidity to enter the Clover ecosystem without the need to rely on 3rd party custodians.
Also I want to highlight Clover as a very user-friendly digital finance gateway even for non-crypto users with its Gasless-end user mechanism, users will be able to transact with virtually any token they want other than our native token CLV. Last but not least, we have a really easy to use cross-chain extension wallet that allows users to transact with major networks in just one view.
TAG: Now please share with us some new upcoming events, as well as big partners Clover Finance has been working with during its development period.
CF: We have a few main pillars at clover, which include interoperability, cross-chain integration, and a seamless multi chain DeFi UI experience. All of our built and planned products are prioritized with these core underlying principles. We already have a working cross-chain Clover wallet currently in beta on the Chrome extension store, as well as Cloverscan, a cross-chain explorer which is currently in a stage environment. EVM-compatibility has also been completed for the testnet for solidity developers to port over existing dapps on to the Clover testnet.
One of the core principles to the clover ecosystem is interoperability. This is the reason for having many projects from all facets partnered with the project such as The Graph, Chainlink, DoDo, Injective Protocol, Polygon, Litentry, Bella Protocol and a couple others.. We plan to establish even more relationships within the DeFi community to commemorate the most vibrate cross-chain DeFi experience we can create
TAG: Let’s move to the next segment: Questions’ collected from users
The first question comes from @luckydraw66:
What are the problems does Clover Finance tries to solve in Crypto world for Developers? How Developer is incentivised from using Collateral platform?
CF: As a foundation layer for Defi application. Clover reduce development threshold significantly for upper layer applications. We have implemented wide range of developer tools for developers. Clover also allows Ethereum developers to bring their contracts on Polkadot easier by minimizing the changes required to run existing solidity smart contracts on the new network, Ethereum projects can be easier replicated and deployed on Clover.
TAG: The next question comes from @NFThold:
What are the main utility and real-life usage of the #CLV token?
CF: The token will be used to run staking nodes, participate in significant governance proposals, as well as be used to transact on exchanges and other defi dapps on the clover platform. The details of the requirements for server specifications on mainnet will be made available on ours docs site – docs.clover.finance. For now feel free to participate in our discord and telegram for Clover on testnet.
TAG: The next question comes from @bluefacebaby07:
In the world cryptocurrency competition, features are of the utmost importance to attract investors and the community! Can you provide a list of killer features that scare your competitors over your project?
CF: EVM Compatibility, Interoperability, Gasless fee transaction are some of the core features of Clover. To learn more about each of the features, feel free to visit our official website: clover.finance
TAG: let’s move to the 4th question from @minhquan178:
What benefits will developers get when building their Dapps on Clover platform? As I know, ETH 2.0 is coming soon, will this create competitive pressure for Clover?
CF: To ensure a vibrant developer community, we implemented a gas fee redistribution scheme such that developers will receive portion of the transaction fee. This will incentive developers to build on clover and allow a lot of innovations in the network. As mentioned, we believe that future liquidity shouldn’t be limited to only one single public chain. Liquidity can go both ways as development of ETH2.0 are going to take a while. Therefore, the co-existence of both will be one of the biggest possibilities.
TAG: This is the last question of this segment, from @dungpro123
How do you plan to spread awareness about your project in different countries where English is not spoken well? Do you have local communities for them to let them better understand about Clover Finance?
CF: Clover is invested by reputable institutionals such as Polychain capital, Okex block dream fund, Bithumb Global, CMS etc. We have been receiving solid marketing/networking support from many of our partners. Clover will also deploy developer outreach programs in local developer communities by organizing hackathons and events where developer will be educated and incentivized to deploy dApps and smart contracts onto Clover. At the moment, Clover has a vibrant community all over the global. We are working with many of our partners in US, China, Korea, Vietnam, Europe of which they are covering the local community.
Guess: Tell us about your plans for 2021, what are you currently working on, and are you going to expand the list of Tier-1 exchanges?
CF: We are currently live on public testnet, our extension wallet and explorer are also live. We expect to have our mainnet v1 soon. We have aligned with various tier one exchanges, especially the ones in China
Guess: What are your key features that you are very proud of and feel very confident about that makes you ahead over any project out there?
CF: Clovers unique bridge technology will allow for a seamless developer experience with deploying EVM based decentralized applications on to Clover’s substrate based network. This means Ethereum application creators will be able to use the same developer tools as they normally do (Remix, web3js, truffle) to deploy their smart contracts and front end applications on to Clover.
Guess: How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?
CF: Please kindly view our official channels! We post a lot of our updates there. Website: https://clover.finance/
Guess: What is the most ambitious goal of the project? I would appreciate it if you could share with us any upcoming updates? What should the community look for?
CF: To harness power of real Interoperability using our SPV simulation technology enabling the two-ways pegs. We don’t want to limit ourselves with turning complete blockchain, we want take a step further and also cover the non-turing complete ones specially the for Bitcoin bridge. While Ethereum/Polkadot is already being working on, we think supporting Bitcoin is very unique . With the upgrades of bitcoin core like the BIP schnor, BIP taproot, BIP tap script, we’re hoping to bring the BTC bridge soon.
Guess: Where does the project name you found? What does it mean for you and why did you choose that name for your project?
CF: The origin of the name came after thinking about our core principles: cross chain and interoperability, with the 4 leaf clover representing multiple blockchains working together in harmony.
TAG: So the third segment of today’s AMA session has ended. We have just talked and shared a lot of useful information about Clover Finance.
I firmly believed that the people interested in the project had a really rewarding time. Thanks everyone!