Amara July 15th AMA Recap |Boss Crypto Community
We are pleased to announce our next AMA on Wednesday 30th June 2021 at 01:00 PM UTC With Amara Finance.
Neal, Amara team’s member and north American BD leader, held this lively AMA. Thanks to the huge response from our community and all the meaningful questions raised by our members.
Let’s recap this AMA!
Neal：
Hello mates! I am excited to be here!
Host：
Can you tell us a bit about Amara finance? Would like to learn more about Amara finance.
Neal：
Yes sir. Amara is a multi-chain assets lending platform based on Polkadot. We are building our protocol on top of the Acala Network. We are very likely to be in the first few projects to be deployed on Acala Network. On the platform, we will launch high quality long tail assets and mainstream assets, cross-chain bridge protocol Maralink, NFT related products, lossless lottery, variable interest, and a series of financial derivative products.
Host:
That’s cool. Can you list some exciting features of Amara finance?
Neal：
Of course! Like I mentioned before, high quality long tail assets lending will be the focus of our lending markets. We are also developing cross-chain bridge protocol, Mara-link, to connect the crypto world with the Polkadot ecosystem. These are two main features that will be up on our platform first. To provide a smooth and stable experience in using our lending products, we have designed a “Interest rate bomb” to facility the process and maintain healthy liquidity pools. There are many risk management mechanisms have been design for our products to make sure minimal impacts of market conditions to our users. We will also develop NFT related financial products, which is going to be very interesting.
Host：
What are you trying to bring in this crypto space ? what’s your aim in this crypto space?
Neal：
As our features tell, we want to bring more growth opportunities to the crypto world through real use cases and demands. We see long tail assets lending as a very good market to get into. We also want to develop a comprehensive interoperable protocol to make the crypto world more connected as we see very limited solutions have been developed. We are looking to become the liquidity hub in the crypto world by implementing Mara-link. And we are looking to become the leading platform for lending and borrowing. Eventually, we want to become a full decentralized financial services platform with growth and security in mind.
Neal：
Cool. Let’s move to the Twitter segment
Can you tell me more about the “Long tail assets loan service” That Amara finance provides?
Neal：
Long tail assets are assets that have uncertainties and risks but with huge potentials of growth. Amara will provide long tail assets lending and borrowing services to help release the liquidity with adequate risk management. Long tail assets will be listed in “Innovation Zone” where users can stake and borrow assets. Long tail asset lending is also what distinguishes Amara from other major lending platforms as those platforms only work with mainstream assets.
We have also designed our evaluation model to select high quality long tail assets to meet users’ growth expectations.
Amara Finance would be able to gather a huge amount of data from their users through the websites and various means . Are you gonna use those data in future to get additional profit in your future ? How should we trust you ?
Neal：
We don’t have a plan to collect personal information data as of now. We might collect user behavior data on our platform to improve user experience and experiment new features.
What are currently Amara Finance is partnership with??Also how the Amara Finance will expand the Defi Horizon??
Neal：
We have strategic partnership with Phala Network for developing Mara-link. And we are closely working with top projects like Solana and Polygon to discuss cross-chain bridge development and/or multi-chain deployments. We are building a multi-chain assets lending platform which is going to bring liquidities together from other blockchains. This is exciting. Also as we develop long tail asset lending products, NFT related financial products, and many other new explorations, we will see the expanding of DeFi.
It caught my attention that one of the features of AMARA is that Top NFTs can be mortgaged, can you tell us more about this? What are Top NFTs and how can a NFT be labeled as such? Also, what kind of mortgage can they get from NFTs and what can people do with this mortgage?
Neal：
Yes. For this type of products, NFT can be used as collateral for borrowing other assets. I think discovering top NFTs will be a dynamic process. NFT assets will first be proposed and evaluated by the Amara team and our community. Then we will have the value realization process through demand and popularity. More details will be released later. If you have ideas about how we can make this process better, please don’t hesitate to reach out!
How do you think that you can make the transactions more fast, secure with low fees?
Neal：
Good question! Although we are not a project that focuses on processing transactions , I believe Polkadot was going to make the process easier as it is going to be the next generation blockchain with efficiency, security, and interoperability in mind. And also because we are building a multi-chain assets platform, we will be looking for the best allocations of assets for transactions with speed, cost, and security considered. We will be utilizing the security of major blockchains that bring to us and trustless computing environment to achieve secure transfer of assets.
How will Mara-link provide liquidity hub services? can you please explain the concept a bit?
Neal：
Good question! Mara-link will be the link to connect assets from other blockchain to Polkadot ecosystem. No matter you are transferring you assets to Polkadot, or you are staking or borrowing your assets from other blockchain on our platform, Mara-link will be the key for these transactions. This is to make your transaction easier as you don’t have to bridge assets by yourself anymore.
Up to what extent we can participate in the token governance?
Do you consider the suggestions from the community???
Neal：
Of course! Community is very important for developing our project and make sure we can go further. As you might notice, 55% of our token will be mined to incentives community participation. This move is to make sure the equitable distribution of token to our community members so that they will be able to participate the community governance.
Most of the projects now a days do burning !!
Are you doing token burning?? tell us something about your token burning ?
Neal：
Yes. Didn’t mention this feature before. We have built some burning mechanisms to reduce the supply of $MARA. We use revenues generated from the platform to buy back $MARA and burn.
Where can I buy it?
Neal：
Our token is not issued yet. Please join all our social media channels so that you don’t miss all the information about rewards, news, events. IDO details should be released at the end of July.
It’s easy to make a token but it’s really hard to make this token valuable? So what’s your startegy to make your token more valuable and what’s your plan to maintain token price and supply?
Neal：
We are dedicated to build the best lending products out there with attractive returns. We also look to ease the user acquisition by making the access of our product more smooth and friendly with comprehensive cross-chain bridge implementation. We will actively exploring new areas in the crypto world, and keep expanding the DeFi horizon.
Neal：
Thank you for joining us today! Really enjoyed this AMA. If you have any further questions, please reach out to me or my team！
About Amara:
Amara is a multi-chain assets lending protocol within the Polkadot ecosystem, focusing on open, privacy preserved, multi-chain lending markets. Amara seamlessly connects mainstream digital assets and top rated long tail assets that improve overall liquidity and expand the DeFi horizon. To achieve these goals, one of the top priorities would be building the bridge based on TEE trusted computing. Eventually, we want to become the hub of lending and exchange in the crypto world.
Follow us：
Official website:www.amara.finance
Twitter：https://twitter.com/AmaraFinance
Telegram：https://t.me/AmaraFinance
Github：https://github.com/AmaraFinance
Medium：https://medium.com/@amara.finance
