we hosted an amazing AMA with ADALend on the 20th of November
And here we will put some of the best questions:
Q1. Can you introduce yourself to our community?
My name is Kaspars Koskins and I am a Chief Executive Officer at ADALend. I had experience as a Board Manager and Managing Owner in a couple of Technology Companies like KK Elektronika and Best Standard SIA. I am focused on achieving sustainable growth in
Q2. Can you briefly tell us what is ADALend?
ADALend is building a scalable and decentralized lending protocol within the Cardano ecosystem, governed by the community. Cardano was created as a blockchain platform to aggregate protocols that provide economic support to billions of individuals, and it is currently the market leader in Proof of Stake (PoS)
ADALend devotes its best to building a trustworthy decentralized lending practice governed by the Cardano system. Within this Cardano system, ADALend will influence the flexibility of digital finance markets by providing a basis for immediate access to loans and collaterals, resulting in sustained liquidity of the blockchain assets of the lender.
Q3. Let’s now talk about the milestones you have achieved so far and about your upcoming plans?
We are planning to launch the ADALend lending platform fully in 2022 Q3-Q4.
2021 Q3 – Q4
Start
Preparations
Marketing & brand awareness
Testnet Completion
Massive Global Marketing Campaign
Token Listing Submissions
Partnerships & integrations research
2022 Q1 – Q2
Research & Beta
Research & Development of lending platform
Article program launch & content mining
ADALend Prototype Beta Launch
Listing on Major Exchanges (January, February)
2022 Q3 – Q4
Liquidity & Launch
Liquidity Launch
MultiChain Products
Massive User Growth
The full launch of the ADALend protoco
Q4. Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?
I could tell you about our company name, but I think you would be much more interested in visiting our website and reading not only about our name, but about all our projects and getting to know our team – https://adalend.finance
Q5. NFT is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on NFT with us? Do you think NFT will disrupt the current financial system? What is ADALend’s approach to the NFT sector?
we understand that NFT is one of the hottest and most sought-after topics in the blockchain space right now, but we have adopted a watchdog position and if things change dramatically, so will we
And here we will put best questions from our members and ADALend fans:
Q1 What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?
Preparations
Marketing & brand awareness
Testnet Completion
Massive Global Marketing Campaign
Token Listing Submissions
Partnerships & integrations research
Q2 Partnership and collaboration is essential for the project development and success . Who are your major partners and what plans do you have further. Please share your roadmap if possible?
The Seed investors are HNWI (High net worth) individuals from Dubai, Saudi Arabia, and China and are private individuals who do not want their names published.
Q3 Could you introduce briefly about #ADA tokenomics? And tell us more about Total supply and Starting price per token? How many tokens will be minted in future and how many tokens will be locked by the team/Investors?
As stated earlier, all activities on the platform will be done through its native token—LP token. This token will be used to determine the utilization ratio for our lending protocol projects according to the specified objectives and mission statement. The ADALend token is a utility token based on its number of use cases—governance, lending, borrowing, and incentivization.
Furthermore, the deflationary approach will be adopted to ensure that the token’s value continually rises. Deflation in this context doesn’t imply the conventional economic approach. Instead, it talks about removing a particular portion of the token from circulation for the perceived value of the token to increase. Different lending protocol platforms have used this approach. Some of the methods employed to achieve the deflationary policy include token burning, token buyback, and token blocking to ensure a recurrent rise in the value of the LP token.
30% of the LP tokens will be for staking, 15% for development, 20% will be set aside for private round, 15% of the tokens will be for the team, the treasury will take 15%, while the seed round and Launchpad will take 4% and 1% respectively.
Q4 Do you have a Token Burning plan in the future to increase token value and attract investors to invest ??
Some of the methods employed to achieve the deflationary policy include token burning, token buyback, and token blocking to ensure a recurrent rise in the value of the LP token.
Q5 How does ADALend protect is users, especially the lender, from repayment distruptions? How can the lenders ensure that their assets are safe within ADALend’s platform?
The security of the project is enhanced by it’s protocol architecture, code quality, health monitors, and active liquidation bots and insurance. The collateralization ratio is helping the loan amount to be consistently lower than a specific percentage of collateral. And the origination fee for borrowing also prevents spam on the contract.
Q6 Can you introduce your team with us? What are their qualifications and experience?
Our core team is highly skilled professionals. They are experienced entrepreneurs with successful businesses across technology and finance.
You can find our team members shown in the team page on our website. Find the link here – https://adalend.finance/#team
Q7 plz tell me “tokenonics Distribution”.
Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
As stated earlier, all activities on the platform will be done through its native token—LP token. This token will be used to determine the utilization ratio for our lending protocol projects according to the specified objectives and mission statement. The ADALend token is a utility token based on its number of use cases—governance, lending, borrowing, and incentivization.
Furthermore, the deflationary approach will be adopted to ensure that the token’s value continually rises. Deflation in this context doesn’t imply the conventional economic approach.
Instead, it talks about removing a particular portion of the token from circulation for the perceived value of the token to increase. Different lending protocol platforms have used this approach. Some of the methods employed to achieve the deflationary policy include token burning, token buyback, and token blocking to ensure a recurrent rise in the value of the LP token.
Q8Sir, Please provide more information on your ROADMAP. What are the most anticipated plans and events for the next few days and months that we should be aware of?
Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?
2021 Q3 – Q4
Start
Preparations
Marketing & brand awareness
Testnet Completion
Massive Global Marketing Campaign
Token Listing Submissions
Partnerships & integrations research
2022 Q1 – Q2
Research & Beta
Research & Development of lending platform
Article program launch & content mining
ADALend Prototype Beta Launch
Listing on Major Exchanges (January, February)
2022 Q3 – Q4
Liquidity & Launch
Liquidity Launch
MultiChain Products
Massive User Growth
The full launch of the ADALend protocol
Q9 How does the project increase the value, liquidity and usability of tokens? So that it can increase the price of tokens? What are your long-term plans with tokens to stabilize your project?
Liquidity is predicated on having enough assets in each pool in order to facilitate lending. ADALend addresses this requirement by incentivising users to deposit assets and provide liquidity.
Q10 new project partnership
For those who participate in public-sale events and hold long-term tokens, how will these early investors Will benefit from the project?
The first IDO will take place mid-December/early January and trading on major platforms starts mid-January.
And this was the end of our AMA with ADALend.
If you have any other questions you can ask here:
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- http://adalend.finance/
Twitter :- https://mobile.twitter.com/ADAlend_finance
Medium :- https://adalend.medium.com/
Reddit :- https://www.reddit.com/r/ADAlend/
Discord :- https://discord.gg/2BwEqtj2GC
Facebook :- https://www.facebook.com/ADALend/