Amara June 25 AMA Recap | Crypto Eagles

6.25 2pm UTC AMA with Crypto Eagles.

The AMA have 3 segment.

  • Introductory questions(6)

The below is Recap.

Host:

So, please Welcome our today’s guest @stimatec from Amara Finance team.

Neal:

Hello world.

Thank you for having me! I am excited!

Host:

Welcome to Crypto Eagles

Are you ready for an AMA?

Neal:

Let’s GO

Host:

Please listen the rules carefully

There will be 3 segments

  • Introductory questions(6)

Here is your first question?

First of all, please introduce yourself with us. How and when you have started?How did you get involved in the crypto? What’s ur role in Amara Finance?

Neal:

Yep!

First thing first! Here are some links that you can use to join our community and learn more about Amara.

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

Host:

Guy’s go to the Links and check out……also joined all social media of Amara finance.

Neal:

And about me.

I am Neal, the head of BD of North America at AMARA. I’ve been in crypto since 2017 with background in data science. Leo, the head of marketing at AMARA and I have known each other for a long time. So when AMARA was being founded, leo reached out to me. Without hesitation, I joined this excellent team. It’s been a great journey so far. I am happy to have the chance to take Amara into global perspective.

Done.

Host:

Good to hear about you!!!

Let’s we move to the next question Ready?

Neal:

Yep

Host:

Here is your second question

2. Now please tell us about your project “Amara Finance”. What was the initial thoughts behind this project? Which shortcomings of blockchain urge to make Amara finance.

Neal:

Amara is a multi-chain assets lending platform based on Polkadot and Acala Network. We are also building a corss-chain protocol to connect assets on different blockchains with the Polkadot ecosystem. The goal is to become the liquidity hub in the crypto world. We believe Polkadot will be the next generation of blockchain that is going to lead the development in the space due to its scalability and interoperability nature. We also see trends and opportunities in the space including but not limit to:

1. Ever growing needs for transparent, efficient, and self-controlled financial applications

2. Fundamental technology infrastructrure for financial application development

3. Decentralized and trusted network for high speed and volume of transactions.

4. free and frictionless communication and flow of assets

With these observations ,we started Amara so the broader consumers can benefit from our services and products built with blockchain technology.

done

Host:

Great stuff.

a lot of finance choose BSC and ETH.

How will you take this to the next level?

Neal:

We believe in polkadot because its scalability and interoperability.

Host:

ahan good

Let we see next 🙋‍♀️ question.

3.your light paper is so hard to understand haha. I would love to know about features of Amara finance with all its products in simple words or you can say in layman’s language.

Neal:

Really ? Thank you for telling me that.

We will make it more clear in the next version.

So for features and products.

Neal, [Jun 25, 2021 at 10:14:30 PM]:

…we will first introduce mainstream asset lending markets. Afterthat, we will focus on developing high quality long tail asset lending markets. These are assets with huge potential of growth.

Then we will have Maralink, which is a cross-chain bridging protocol that will allow users to frictionlessly transfer assets from other blockchains to Polkadot.

We have also designed an interest model to minimize impacts of extreme market conditions and maintain healthy liquidity pools.

Furthermore, NFT related products wil be developed to make these assets more liuqid, for example, users can stake NFT to borrow other assets.

More importantly, we have designed many risk management mechanisms to ensure the safety of users’ assets since this is our top priority when we design our products.

I think i have covered a lot. 😉

Host:

yeah explain very well

awesome stuff

Let we move to next question

4.please share assets lending model of Amara .

Also tell us about NFTs and yield farming place in Amara finance?

Neal:

In simple terms, our lending models are collateralized lending models.

With limits and thresholds, users can borrow up to a certain amount of assets. The interest rates will be dynamic based on the utilization rate of liquidity pools. Interests earned from lending will be paid to lenders less an operation cost for the platform. Borrowers should pay attention to changes of price for their staked assets and borrowed assets. When the value of borrowed assets go beyond preset limits, liquidation would happen.

In case of lending, we work with many mining business, from small to big, who have real needs for borrowing assets.

For yield farming, users can earn rewars from staking assets, using lending products, and providing liquidities.

NFT related yield farming has not been designed yet, but would be an interesting topic to explore.

Thanks for the idea.

Done

Host:

Roger that

Here is your second last question.

5.please share tokenomics of mara with its distribution and vesting period?

Neal:

We have a thorough design and consideration for tokenomics.

Our goal is to make sure the distribution of token is equitable and sustainbale for growth.

A quick overview below”

MARA is Amara’s Utility Token and Governance Token.

MARA Total Supply:150 million

MARA Distribution Plan

4% Seed Funding Round (15% at launch, 6 quarters vesting)

11% Private Sale & Community Sale

55% Mining Rewards

10% Community & Ecology Reserved (15% initial, 4-year vesting)

20% Advisors & Team (25% at launch, 6 quarters vesting)

In addition, users can stake MARA to increase lending limits, reduce liquidation risks, earn more mining rewards, increase margin, and etc.. Withdrawl fees applying to some products will be used to buyback MARA and burn.

We will continue to polish our tokenomics.

These are currenlty being developed.

Done

Host:

Wow most supply to miner.

roger that

Neal:

We want to encourage users to use our product and ensure fair distribution.

Host:

Awesome

here is your last question of first segment.

Neal:

I agree with you

Host:

6.what are your aims in next 2 years according to your roadmap?

Where Amara will be after 5 years if things will move ideally for you

Neal:

Good question!

In July we will start internal testing of our products where users can signup the test, complete testing, and win rewards!

August we will officially launch our platform.

after that, we will start to upgrade the lending model and develop the “interest rate bomb” model which I mentioned earlier. We will start testing Maralink, and release more economic models in the new Whitepaper.

So please join our community to keep updates with lastest news, events, and rewards!

For the next 2 years, we will focus on polishing and expanding our products. We aim to become the liquidity hub in the crypto world with the implementation of Mara-link. We will also work on getting MARA listed on major exchanges. Within 5 years, we want to become a full service DeFi platform for everyday users with growth and security in mind.

Done

Host:

Our first segment is over

Now we will move to second segment! In this segment community will ask question from both of you!!

You can choose only 5 questions for answers!

Be ready guys!

I will opened the group for 30 seconds.

……

Time to mute the group

You can choose any 5 to give them answer.

@topind7

What features does Amara have that will convince people that this project is a genuine project and what items can also be used as collateral?

@neal_666

Neal:

So we talked about features before. For assets used for collateral, mainstream assets, high quality long tail assets, and top rated NFTs will be used. We will evaluate long tail assets and NFT to make sure they are top graded.

host:

4 left

@kriscarle

Looking back on your Roadmap, we’ve seen great steps forward! What are the next big milestones for Amara Finance ecosystem development?

Neal:

Mara-link is under development.

products are being tested on acala test-net .

We also have started to work with top projects like polygon and Solana for cross-chain bridges.

host:

3 left

@vul_Tor_mara_de

Can you tell us about your team members? are they qualified and professional in their fields? what are the recruiting qualifications for team members for your extraordinary project?

thank you sir.

Neal:

Yes .

Yes. Our CTO Simon has more than 15 years of experience in developing technology projects including some of top public blockchain projects. Core developers are early contributors to the Polkadot infrastructure who also received Web3 grants for their contribution. Operation team brings many years of experience in finance, media, and community building. Details about recruiting will be position specific that we will share later in our community and website.

Host :

2 left.

@Fani7624

As far as i know, AmaraFinance takes into account several risk factors for each protocol, which include capital wagered, daily volume, how long it has been deployed without incident, etc. It’s so great. So how could you price insurance coverage within AmaraFinance?

Neal:

interesting discoveries. So the insurance pool is not a insurance policy. It’s a pool that will be used to cover losses and reduce liquidation risks.

Host :

1 left

@bila56

Most of the lending platform am familiar with only offer lending in stablecoin and fiat due to the volatility of crypto. Do you offer lending for different class of crypto assets? How will AMARAFINACE edge against Volatility?

Neal:

good question! It is one of the challenges that we strive to overcome. For long tail assets, we have developed an evaluation model to grade these assets. And long tail assets lending would be isolated so that single assets flucation will not affect main liquidity pools and assets.

Host :

Done 2nd segment.

Let’s we move to third segment.

Neal:

sure!

Host :

Here is your first question from twitter

can you list 1–3 killer features of your project that makes it ahead of its competiters.

What is the competitive advantage your platform has that you feel most confident about???

to username @Hassan Malik

Neal:

yes

1. Long tail assets lending. Very few platforms are focusing on this asset class.

2. Maralink. I dont see a lending platform are building their own cross-chain bridging technology

NFT financial products. Hotest topic on the market

We have first-mover advantages in the Polkadot ecosystem. We have a very experienced and dedicated tech team and operation team that are working together and we are on track!

We are product and platform ready waiting for the mainnet

Done

Host :

Sorry network issues

here is your second quetions

in your website doesn’t say any name of the founders of team of Amara

the only thing that we know is that is a global project with members on north american and 🇨🇳 ,so can you tell us how much big is this team.

Tg: Lubna Rafaqat

Neal:

Yeah. We currently have 10+ team members. And we are actively expanding our team.

Host :

Thank you very much @neal_666 for your precious time..

Best of luck to you and Amara Finance

Neal:

Thank you, glod to be here.

great community!

any more question?

Host :

Sure

Are you currently on track to reach all of your 2021 roadmap milestones and which stage are you most excited about?

Tg user name @Eshal013

Neal:

Yes we are. The most exciting stage for me is actually now reaching out to global communties.

It helps us build a stronger community.

Host :

Exactly , communities are key to success for many projects.

Neal:

To AMARA, it will be the official launch of our platform at the end of August when parachain slot auction completes.

indeed!

Host :

Cool 😎

Here is our next question

Why there is so less information on your white paper. Where can we find you a real project?

We see projects rugged pulled or they came out SCAM. How do you guarantee us you are not a scam project??

Tg @fizzaahmad

Neal:

i feel you bro.

I have seen so many rug pulls on bsc lately

so the best rug pull project strategy right now is actually launching on bsc, and running away within a few hours.

If you are fimilar with these rug pull projects, you can easily tell the differences.

Would a rug pull project spend so much time and effort on initial development?

As a matter of fact, we are well funded and backed by institutional investors. And we are building a lending platform for real needs.

Host :

just come , earn some money and leave.

Neal:

so i believe time will tell us

Host :

Looking forward to it man

here is the last question of our session.

Neal:

Let’s go

Host :

i read in white paper, Amara Finance launching lot of new projects such as partnership with Phala Network, global airdrop campaign and Amara Lending Platform. Please elaborate the core features of Amara Finance?

Tg; @Zeeshan808

Neal:

We have talked a lot about features and products today. So I will encourage you to join our product testing, and let us know your thoughts, and get rewards!!!!

Host :

Awesome man

Neal:

To encourage community to get involved.

cant’ agree more!

Also before deployment, we will get contracts audited by professional agencies as well.

Again, your assets safety is our top priority!

Host :

Thank you very much @neal_666 for your time.

Sorry for little bit trouble as I was not here..

Still, you did great job 💪

Neal:

Thank you! Appreicate the opportunity!