Earlier today, 15th April 2021, Kamran Akbar, from Crypto Eagles, hosted an AMA with Cheyenne, a member of our operations team.
Here is a curated transcript of the main points covered during the AMA:
Kamran Akbar First of all, please introduce yourself and the Core concepts of $FilDA.
Cheyenne: My name is Cheyenne and I am a member of the FilDA team operations team. I am mainly responsible for community operations and marketing. If you have any questions about the community, please feel free to contact me. Our team includes a technical team and an ecological operation team.
FilDA has four co-founders.
The first is Ashton:
Ashton worked in Citigroup, Hewlett-Packard and other well-known foreign companies in his early days. He came into contact with Bitcoin in 2010, and started full-time research and development of the underlying and application layer of the blockchain in 2017. He is currently the technical leader of the FilDA project.
The second is Shijun Song:
Sjun Song is also a partner of Elastos Ecological. He was engaged in the development of mobile operating system software in his early years, and continued to start a business in the Internet field. Later, he joined the blockchain community and initiated the Elaphant Wallet, CryptoName, ShadowTokens, TokSwap and other projects.
Finally, Song Bao & Hao Cheng:
Bao Song and Hao Cheng, the two project initiators, have made great contributions to the ecological construction of FilDA, as well as BD docking, market operation and publicity, and community construction. Because of their contributions, now FilDA has become one of the projects with rich ecological application scenarios on HECO chain.
In addition to the core team members, there are also many Chinese and English community volunteers who have contributed to FilDA. Thanks to Greg, Chris, Cassie, Austrader, KK, Godzila, MButcho, oxatm, Ryan, The Drifter, and witji for their contributions!
Speaking of the emergence of FilDA, the FilDA team has seen from the very beginning that there is a huge demand for loan products in the DeFi industry, and the product and code in the loan direction has been accumulated for half a year.
Finally, it is also because of the opportunity of Huobi HECO Chain that we quickly deployed and launched on it in order to have today’s lending platform.
Kamran Akbar: We have seen the $FILDA website. It has good content but is a little scattered. Please explain to us briefly what the main purpose of $FILDA is and its uses?
Cheyenne: FilDA is a cross-chain lending DeFi project based on HECO. FilDA opened the genesis mining Fair launch at 20:00 pm on January 5, 2021, and launched the first 20 asset lending functions such as HUSD and HBTC.
It is also HECO’s first public platform for APY data, depositing and borrowing two-way real-time transparent data loan items. The peak of the total amount of deposits and borrowings on the FilDA platform exceeded US$1.2 billion, and the peak of FilDA LP exceeded US$30 million. Now FilDA has been listed on Huobi, MXC and other exchanges.
Since its launch, the deposit income of single currency USDT/HUSD has been stable at 30%+, and the other single currency deposit yields have remained to range from 1% to 124%. The return rate of LP trading pairs has remained at about 200%. The LP with the highest return rate on MDEX is FILDA-HUSD.
Not only that, but the return rate of the DAO pool participating in FilDA single currency mining also maintains about 180%. Currently, FilDA ranks first among HECO loan products.
The FilDA project has no fundraising, no pre-mining, and is committed to HECO’s preferred user-friendly DeFi lending platform.
You can go to: filda.io to experience it.
Kamran Akbar: Your project has risk warning on Google which states that FilDA has no investment value. It is only a governance token. Please can you reassure the minds of the community about the reasons behind this statement.
Cheyenne: Yes, we have always emphasized that FilDA Token has no investment value, and is only the governance token of FilDA Protocol. (Editor’s note: governance of FilDA, deciding on the interest and management of assets on the platform, is decided by FilDA token holders. This value is for the individual to determine.)
With the improvement of lending products on the FilDA platform, our lending scale is gradually expanding. The total amount of FilDA’s deposit and lending has reached 1.9 billion US dollars. With the increasing demand for product use, the demand for a good community governance has also increased. The total amount of FilDA Token is 500,000,000 (500 million). There is no pre-mining and retention.
All tokens are generated according to the block time, divided into 4 parts: loan mining (65%), liquid mining (15%), DAO Governance (15%), team operation (5%). Users can obtain FilDA tokens when participating in loan mining, liquidity mining and DAO governance, and can participate in project governance by joining FilDA DAO.
Important decisions of FilDA will gradually redefine and verify the DAO governance process, and long-term stakeholders will determine the long-term development direction of the FilDA agreement. Under this framework, the developer team is responsible for maintaining the safe, reliable and continuous operation of the system, and constantly innovating and iterating products. The community completes the setting of key operating parameters through DAO voting.
Kamran Akbar: What are the plans to educate, raise awareness and adoption among the community to make more people to understand the project?
Cheyenne: We set up a tutorial series in FilDA’s GitBook where first-time users can learn about and participate in FilDA through the tutorial, the tutorial link: https://docs.filda.io/jiao-cheng/filda-wa-kuang-quan-jiao-cheng-jie-dai-lpdao
There are also tutorials available on Medium.
In addition, you can join our community group: https://t.me/FilDAcommunity, there is our little assistant, and you can get answers to any questions in the group.
Here are other channels to get our first-hand information:
GitBook: https://docs.filda.io/
Twitter: https://twitter.com/FilDAFinance
Kamran Akbar: Do you have a roadmap? And what is next priority for the $FILDA team?
The listing of Huobi was a key step taken by FilDA, and it is also a new starting point for FilDA. At this starting point, FilDA will focus on a broader future, continue to deepen the field of DeFi lending, optimize and innovate FilDA DeFi product design and user experience, and unlock a brand new FilDA.
To this end, FilDA will gradually achieve the following goals:
①Create a global ecosystem
Gradually support more cross-chains such as ETH and BSC, realize asset interoperability, and create a global lending ecosystem.
②Lightning loans and derivative applications
Deeply cultivate DeFi products and design more high-quality products to meet the needs of more users.
③Credit transfer
Connect the on-chain and off-chain data to realize unsecured credit loans.
Standing at this brand new starting point, FilDA will continue to dig deeper in the aspects of product security, data transparency, operational convenience, the income of deposit assets and security guarantees, and create a full-scenario, full-ecological, and full-chain lending product for users. We will provide a credible, safe, and easy-to-use lending service platform.
Kamran Akbar: What are your expectations in next coming 2 years? Where will $FilDA will be after 2 or 5 years?
Cheyenne: We have prepared the technical road map and it will be online in the near future. As the answer to the previous question, our technical development is planned around the development direction of FilDA.
So please pay continuous attention to us! 😛
Community Questions:
Find Project Good: How will FILDA survive during along bear market?
Cheyenne: We will still focus on borrowing and lending.
Do you Love ME: Your foundation idea is very new, so it takes a lot of formula and takes a long time to develop. This must have a tricky point for you? Do you agree that the strength of the community will lead your project to grow globally?
Cheyenne: Yes, totally agree.
Pilotoleng: Do you guys have collaboration with Financial Institutions or Private Companies?
Cheyenne: We have cooperation with EarnDeFi、ins3.finance、MDEX、NEO、StarLink、LAVAswap、HFI.one、Supernova、Depth、fixed、bitkeep、tokenpocket、codebank、bingoo、hyperpay、imToken；Chainlink，polynetwork、tokbridge；ELASTOS、NEO；Huobi Global、BiKi、MXC
Quyen Tran: Does the FILDA team have a training and guidance system for newcomers to cryptocurrency? How do you attract and reach them?
Cheyenne:
Wenona Rendon: Which area are you focusing on at the moment? (DeFi, Stake,Dapps..) and what is your goals in this year?
Cheyenne: FilDA will continue to dig deeper in the aspects of product security, data transparency, operational convenience, the income of deposit assets and security guarantees, and create a full-scenario, full-ecological, and full-chain lending product for users. Provide a credible, safe, and easy-to-use lending service platform.
Crypto Master #Investor: I read somewhere that Filecoin miners are leaving due to cost issues. Since miners represent one of the most important demographics in the project, how does FilDA plan to keep miners from leaving?
Cheyenne: Unlike other lending and borrowing project on the Ethereum chain, we choose HECO as the base chain. On the one hand, we introduced the ecological resources and assets on Huobi. On the other hand, we can provide our service more user-friendly because of the user-friendliness on HECO and the extreme low gas fees.
Kamran Akbar: Thank you very much for your time and best of luck to you and $FILDA💪💪
That was a nice session ❤️
Cheyenne: That’s all. Thanks everyone!
