We held a live telegram Ama session with PLEDGE FINANCE in our official telegram channel on 11th Jan,2022 and here is a recap for the same in case you miss the live Ama session
Segment 1 – Host questions
Q1 So before we start learning about "Pledge" would you like to introduce yourself first and Could you describe us about your project "Pledge" . What is your project about and how can we see it in action?
Guest :- Pledge is, unlike other defi such as MakerDAO/Compound/AAVE etc, designed as an interest yield marketplace. It is a cross chain, cross border, cross industry ecosystem that enables developers and traders to create a new Wall Street.
So we call Pledge Finance: the World’s Next-Gen Open Finance Building Blocks based on Financial NFT.
I myself worked for more than 15 years in Fintech and have a PhD in AI from a high profile university in US. Before creating Pledge, I was the Chief Scientist for a HK based lending company with global assets of 100B. In Pledge, I am leading the product and engineering to enable massive innovation in ecosystem for financial NFT and open finance.
Pledge is, unlike other defi such as MakerDAO/Compound/AAVE etc, designed as an interest yield marketplace. It is a cross chain, cross border, cross industry ecosystem that enables developers and traders to create a new Wall Street.
Q2 I am a crypto investor and I only care about prospect of a crypto that I chose, tell me the reason why I should choose your token over the existing one? What is your token advantage that can convince me to change from my favorite token?
Guest :- It is all about innovation and TVL also we have a tier 1 team and advisors list from Stanford /Berkeley etc. Some big announcement is going out today. Pls follow our SNS and go to KUCoin to see the news.
Q3 Most of investors just focus on the price of token in short term instead of real value of project. Can you tell us the motivation and benefits for investors to your token long term?
Guest :- First key difference is the financial NFT. Everyone knows about NFT now. But it can do much more. In pledge, we build every loan, bond, insurance over fNFT and enables swap between them. This is to say that every pool we can have thousands of tokens. Currently most Defi such as MakerDAO, AAVE, COMP only have a pair in many pools. So the liquidity is much higher in Pledge.
Second, developers can CREATE their interest yield products here, just like what traders do in Wall street and investment banks. But just easier, cheaper, more flexible and safer. And everyone can do that by using Pledge Protocol, in just several clicks.
Q4 To what extent have the recent bear market have on the project development and how have you been able to survive this longest bear market and continue building and developing?
Guest :- Institutions across the globe have a need to swap their credit and debt obligation for liquidity and low cost of capital. Pledge aims to service this global financial supply chain via its decentralized ecosystem by building a NFT trade ecosystem that interacts across chains. Pledge Protocol creates a high-speed interoperability network built to address fundamental problems impeding the mainstream adoption from cryptocurrencies to innovative financial assets for real-world financial applications. So yes we spend a lot in building and developing.
Q5 When will your tokens be listed on an exchange, and on which exchanges do you plan to list on in the future?
Guest :- 10:00 on January 12, 2022 (UTC) in Kucoin , yes we will consider
Segment 2 – Twitter questions
Q1 Partnership is like a supplement where the combined effect is beyond the individual level. Can you name some of your recent partnerships that can help @PledgerFinance expand in new markets? Is there any partnership that will take place in the near future?
Guest :- Tony Chan, our CEO, has built a global elite team with traders, bankers, fintech and blockchain enginners. And some of them are graduated from Stanford, Berkeley etc. Very talented people also some are from Banking and Wall St. So we are dedicated for innovation.
Q2 You recently got listed on kucoin so congratulations for that ? May i ask you what are the other milestones you will achieve in a short time and also when will you integrate more tokens in lending or borrowing.
Guest :- It will be the roll out of v2. It is a unique and innovative protocol
Segment 3 – Community questions
Q1 Does your pledge finance project is safe and secured have you did any audits to increase the trust and also tell in which exchanges the $PLGR token is listed ???
Guest :- The loan is colletarized and it is on chain also our code is audited by CertiK and some other firms the ratio for lending to assets is 70-80% besides, you earn PLGR by lending and borrowing which can make your loan interest FREE
Q2 Cryptocurrencies are not so popular in Southeast Asia market, some countries like Vietnam, Philippines, Indonesia, etc. Do you have any plan to reach these potential crypto countries?
Guest :- Yes, we are working with banks globally to attract users
Q3 Can you tell us about the main features about your pledger finance project from which investors earn good profit and tell us what the precautions we take so the chances of risk is less while investment ???
Guest :- Have three main features: Lending, Borrowing and Provide Liquidity.
Loans are not repayable. So the lender's fixed return is guaranteed. Lenders can sell the SP_TOKEN (bond token) for immediate liquidity.
Borrow rate, cost of capital is fixed. less risk for borrowing for high cost of capital. Borrowers still have upside and downside exposure of the pledged collateral. (Borrowers’ JP_TOKEN can claim back collateral after the loan is matured). Loans are non recourse. Borrowers will never need to pay back the loan or be underwater.
Best and kindest regards!