Shadows AMA Recap Crypto Revolution Community

By Crypto Revolution | Crypto Revolution Telegram Group AMA Recaps | 11 Mar 2021

On 10th of March Shadows conducted an AMA in Crypto Revolution Telegram group.Our guest was Sue from Shadows Team. Massive interest from the Community from all our social medias — Twitter, Uptrennd, Linkedin! Shadows is one of my personlly TOP Crypto Picks for 2021! Let’s take a look at most interesting points from our Conversation with Sue!

INTRODUCTION

Danny | Crypto Revolution: Welcome Sue! Happy to have you with us today 😁

Sue | Shadows: Hi everyone! Hey Danny, thanks for having me here.
Guys, this is Sue from Shadows Network. Nice to meet you all! 😊🥳🥳

Danny | Crypto Revolution: Could you please introduce yourself and tell us how did you get involved into Crypto?

Sue | Shadows: Yeah sure! Great honor to introduce myself ☺️
I’ve been in Blockchain & Crypto space for more than three years. Starting from post-investment management in a well-known crypto vc fund, later on I became the senior analyst there, producing internal and external insight reports. Then where I am at right now, I joined the Shadows team to lead Marketing.
It’s always been fun

Danny | Crypto Revolution: Noiceee. Nice Background 💯

Sue | Shadows: I started noticing Crypto when i was still in college, my backgroud is finance :)

Danny | Crypto Revolution: Could you please introduce Shadows to the Community in Layman’s term?

Sue | Shadows: Great! Shadows Network is a synthetic assets protocol built on Polkadot Substrate. It is an underlying network for issuing, trading and also, borrowing/lending decentralized synthetic assets. We are committed to becoming the backbone of web 3.0 that will enable the free trading of on-chain assets by anyone, anywhere :sunglasses:
As some people may not understand what synthetic assets are, let me help explain it first
Synthetic assets are smart contracts built on chain mirror worlds for different assets, which enables the value of the underlying assets to circulate safely and freely on chain in the form of debt.

We will be supporting a wide range of synthetic assets such as stablecoins (xUSD), cryptocurrencies (xBTC, xETH, xDOT), as well as traditional financial products (xGOLD, xTSLA)
In the traditional financial market, derivatives are contracts whose value is derived on a financial asset which include instruments like currencies, commodities, stocks, and market indexes. They allow market participants to either hedge or speculate
We contribute to bringing smart contracts to the picture which enable the DeFi community to issue, trade, borrow/lend these derivatives while still having crypto exposure!

Danny | Crypto Revolution: Which is pretty amazing 👏 Really great concept!

Sue | Shadows: These products will allow our platform users to synthetically hold currencies, stocks, and commodities, all while receiving yield for participating in the market 🙂
Our official website is https://www.shadows.link/, check it out :)

Danny | Crypto Revolution: Just saw your Announcement for the Partnership with DIA. Well done!

Sue | Shadows: https://shadowsnetwork.medium.com/shadows-network-partners-with-dia-to-integrate-reliable-market-data-feeds-8c4772f1285c
Shadows Network Partners With DIA to Integrate Reliable Market Data Feeds
We’re pleased to share details of Shadows Network’s latest strategic partnership. DIA (Decentralized Information Asset) will be working…

Danny | Crypto Revolution: So last few days were crazy for Dows. Super successful IDOs on Ignition and DuckDao, Super successful Launch on Uniswap, than Paid Network got hacked and you guys got a lot of Fud, after that you were called Scam. How the team handled all of this? It’s crazy
Check out the details! Really thrilled to see this happen 🤟🏻

Danny | Crypto Revolution: Yeah. I’ve worked with DIA. As I said really good Partnership 💪

Sue | Shadows: Yes it’s a tricky situation although we don’t have security issue in fact!

Danny | Crypto Revolution: Yeap. I know. You guys are solid.

Sue | Shadows: We’ve given a very powerful and convincing response to those alleged accusations.

Our smart contract code was audited by a third-party vendor — Certik, one of the leading and most trusted blockchain auditing companies. People don’t need to worry about the security issue

We are a reliable and trusted project 🙂

Danny | Crypto Revolution: Time for Questions from Twitter now.

Sue | Shadows: Would love to hear from the community ☺️

Danny | Crypto Revolution: Community is always Number 1 😃

Sue | Shadows: I second that!! ❤️

TWITTER QUESTIONS

Q1 from @Pr0Bitcoin

1. When are you planning to sue for libel against WOR? For destruction of token price and loss of $Thousands from smaller investors of $DOWS. 2. Any tier 1 exchanges being planned for listing? Yes or no will suffice.

Sue | Shadows: We are not planning to sue Waronrugs, though we did suffer a huge image & market cap loss. We just want to focus our time and energy on product development as much as we can! So that ppl can access the most superb synthetic assets protocol as early as possible
But of course, we def welcome and appreciate more supervision and suggestions!

Danny | Crypto Revolution: Yeah show hard work and make Community judge you for it. 😃 So far I only see hard work and great Partnerships from the Team!!!

Sue | Shadows: Haha thank you for your recognition. Thats true. We are an awesome team.

Danny | Crypto Revolution: I’m sure most of the people know the answer but I have to ask. You guys are still in Partnership with Paid and Kyle right?

Sue | Shadows: Yes sure. We are sorry about what happened to Paid and Kyle recently. They are doing something really outstanding! And also, have been supporting Shadows. We will try out best to support them for sure
PAID V2 just launched, Great news!!

Q2 from @Viinna18

In the world cryptocurrency competition, features are of the utmost importance to attract investors and the community! Can you provide a list of killer features that scare your competitors over your project?

Sue | Shadows: Great question! Compared with our main competitors on Ethereum and other blockchains, Shadows will be supporting cross-chain assets, featuring low fees, high speed, and high security.

We will also support synthetic assets borrowing / lending which is something our competitors haven’t fulfilled either :muscle:🏻

Danny | Crypto Revolution: Btw guys you plan to explore BSC as well? A lot of people are really tired from Fees on Ethereum Network.

Sue | Shadows: Woah TBH this is somthing we haven’t talked about yet in public.

Danny | Crypto Revolution: 😃

Sue | Shadows: Binance Smart Chain is def in our consideration. We are digging into it 😁

Danny | Crypto Revolution: Nice to hear that 😁

Sue | Shadows: Haha Danny is quite insightful!

Q3 from @Trandan899

Do you have any governance token for $DOWS? We all know that EHT is doin a great job on binance. If you have a token what is it? Whar are the benfits for that token holders on Shadows? Do you have any rewards for hlding that?

Sue | Shadows: Awesome! YES. but in fact it will be DOWS token as the governance token on Shadows 🙂
DOWS holders are eligible to vote on system governance, such as new feature additions, agreement upgrades and fixes, etc.

Danny | Crypto Revolution: This is great :+1:

Sue | Shadows: In addition to governance function, by holding and collateralizing DOWS, users will be rewarded with transaction fees redistribution, staking rewards, etc. So there are a lot to be expected!

Danny | Crypto Revolution: Looking forward for it. I know 2021 will be an awesome year for DOWS Holders!

UPTRENND QUESTIONS

Q1 from Crypto Investor

In the site says “Shadow is a hub for issuing, trading, lending, borrowing, syntethic assets” . I know have a lot of projects with this objective and a lot of vulnerabilities in smart contracts. About it, what is the security if Shadows? Do you have smart contract audited and programs like hackaton and bug bounty?

Sue | Shadows: As i mentioned at the beginning, our smart contract code was audited by Certik, one of the leading and most trusted blockchain auditing companies. Our contracts meet their highest security standards. People don’t really need to worry about the security issue 🙂

And yes we can expect programs like hackaton and bug bounty to happen in the future :)

Danny | Crypto Revolution: 💪

Q2 from Roma Del

Shadows promotes a quite innovative economy, but for some people it can become a bit confusing, could you explain us the difference between synthetic and original assets ? and why is the synthetic asset more beneficial for users ?

Sue | Shadows: Sure, my pleasure!
First, like i explained before, synthetic assets are smart contracts built on chain mirror worlds for different assets, which enables the value of those underlying/original assets to circulate safely and freely on chain in the form of debt. The underlying assets can be stocks, gold, cryptocurrencies, etc.
As for the benefit of holding/trading/lending synthetic assets, let’s take stocks for example
You might be curious about what are the benefits of trading a synthetic stock, as opposed to a real-world stock :blush:

Danny | Crypto Revolution: Yeap 😃

Sue | Shadows: I believe most of you guys must be aware of Robinhood’s decision to halt purchasing of GME shares earlier this year.

From our point of view, it just again pointed out the vulnerability of a centralized financial system. There exist so many limitations, not fair and not transparent enough.

Danny | Crypto Revolution: Yeah. Agree on that!

Sue | Shadows: We are devoted to building a decentralized network, allowing people to access those assets in a decentralized & synthetic way!
In addition, by playing with synthetic assets on Shadows, users will be rewarded many types of benefits, like staking rewards, transaction fee redistribution, etc 😁

Danny | Crypto Revolution: Btw what is your Personal Opinion for what’s going on Twitter with banning all this big Crypto Accounts?

Sue | Shadows: Oh i just noticed this morning and got really shocked. It’s really not fair to ban all those Crypto Accounts.
We need a decentralized social platform 🙂

Danny | Crypto Revolution: True 💪

LINKEDIN QUESTION

Image for post

Sue | Shadows: Haha nice, its gonna be a littile bit complex
It’s not a 1:1 ratio between the value of synthetic assets and the DOWS token. To cast a synthetic asset on Shadows, the user needs to collateralize DOWS token with a collateralization ratio above 800%
This over-collateralization mechanism ensures that the synthetic asset is sufficiently collateralized to support significant price fluctuations.

Once the collateralization ratio falls below 800%, the user will not receive DOWS bonus + will not receive a transaction fee bonus until the collateralization rate is met again 🙂
Once the collateralization ratio falls below a specified threshold, the collateralized DOWS will not be redeemable and the user has to adjust its collateralization rate by destroying some of its synthetic assets or, replenishing its DOWS.

Danny | Crypto Revolution: Thank you Sue. Nicely explained 👌

QUIZ PART

Question: How many partnerships Shadows has disclosed so far and who are those projects?

Answer: 6 — DIA, YOP, Linear, Kylin, DuckDAO, PAID

Question: What is the circulation rate of DOWS token now?

Answer: 7.35%

Question: How much of DOWS total supply will be distributed to ecological incentives?

Answer: 63mil

TELEGRAM QUESTIONS

Telegram User:

What kind of synthetic assets can I mint on your platform and how does Shadows maintain safety and security of assets created or minted? Do synthetic assets hold any potentials?

Sue | Shadows: You can mint our native DOWS token by issuing/trading/lending/borrowing synthetic assets .
For safety and security , our contact code was audited before by a trustworthy third-party. In the future, we may involve decentralized insurance.
By holding synthetic assets, you can obtain many different benefits like i described before.

Telegram User:

What is your plans for global expansion,on building and developing or getting customers and users, or partnerships?

Sue | Shadows: We are diggning into blockchain industy and also tranditional financial industy. You will notice we’ll have more partnerships reached. Once the product comes out, customers and users will be aware of shadows’magic.

Telegram User:

Which area are you currently focusing on? (DeFi, Stake,Dapps..) and what’s your goals in this year ?

Sue | Shadows: Currently we are mainly focusing on product dev. I think you are asking about the roadmap.
Our fisrt roadmap version is visible in our white paper. However in fact, we recently had a new team member onboard as the head of product . We will readjust the roadmap. You can expect a more interesting and exciting roadmap soon :)

Telegram User:

PRICE control is important to attract token users, traders and HOLDERS. DEFLATIONARY models like Token BURN/BUYBACKS have been a way to increase SCARCITY and PROMOTE an increase in value over Time. Do have any SCARCITY PATHS like this and how would you help PROMOTE a steady increase in VALUE over time?

Sue | Shadows: Yes we will involve burning mechanism.Transaction fee income and debt pool fee income on Shadows will be used for destruction according to a cetain ratio of per week, which will be automatically executed by the smart contract.

Telegram User:

$DOWS have any Staking pool ? If your answer yes then where can I stake it ?

Sue | Shadows: Yes, but not yet, lets expect the product come out soon!

Telegram User:

About your platform, how do you ensure that Shadows user assets and datas are safe and secure?

Sue | Shadows: Shadows Network is decentralized, no user identity data will be stored anywhere.

Telegram User:

NFTs are a trend in DeFi and is to be the future of the industry. What are your thoughts on this and would you be introducing your own NFTS?

Sue | Shadows: NFTs are indeed a trend! We will def consider introducing this to our system!

CONCLUSION

Danny | Crypto Revolution: Time for Conclusion Sue! First I want to say Thank you for sharing your Valuable time with us today 90 minutes AMA 💪
Any final Words for Community?

Sue | Shadows: First of all, i just want you to know how much thankful i am for having me here! Really appreciate this community being so supportive!

Danny | Crypto Revolution: Always welcome to come back with Updates and News. I’ll be supporting Shadows all year 💪

Sue | Shadows: If you guys get interested in what #Shadows Network are doing, please don’t forget to follow us on various channels!

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