Kriptobi, one of the most active groups in Turkey on cryptocurrencies, hosted CEO Sergey Onishchenko the DeHive project on April 12, 2021. In the first phase of our event, the DeHive project was introduced to our community members with group managers’ questions and our guest’s answers. In the second phase, 3 questions collected via Twitter were asked to our guests, and in the third phase, the ‘live Q&A’ section was completed. In the second and third stages, our community members, whose questions were answered, were rewarded with a gift worth 10$ at the time of reward distribution. If you also want to participate in future AMA events and win while being informed, you can join the Kriptobi community.
Stage 1 (Questions of our group managers, answers of our guest)
Question 1. Thank you for accepting our invitation. Please briefly introduce yourself, including your background, role in the company, and your team.
Sergey: My name is Sergey Onyshchenko and I am a founder and CEO of DeHive - DeFi protocol. I am a real blockchain geek and DeFi admirer. I've started my way into crypto in 2016. Together with my fellows, we were so into this technology and the general idea of data decentralization and that's where we decided to set up our blockchain development company Blaize. Blaize is the team that develops and maintains DeHive. The idea of developing our own in-house project has been crossing my mind for a while. And now, when we have gathered the right knowledge of the market I think we are ready to deliver the solution that is needed and that many can benefit from.
Question 2. Could you give brief information about what #DeHive is? What does he aim to do and solve in this sector ?
Sergey: DeHive will provide its users with an economically sound and justified index of the top DeFi assets. Therefore, the user will be able to get a picture of DeFi sector development and assess the market health in general. Besides, in contrast to the centralized market tools, in DeHive users will benefit from liquidity mining and yield farming and get an additional profit.
Question 3. What DeHive is trying to offer is a fully decentralized crypto index. At this point, I know you don't have direct competitors in this area. But still, I have to ask this question;
What are your main features that distinguish you from other competitors and what competitive advantages do you have ?
Sergey: First off, we are not relying on the AMM Balancer model as PieDAO or PowerPool do. There is more information in a related article. Hope it will give more clearance for everyone why DeHive is a first-to-market decentralized crypto index. Second, our main product is not an index itself. We are providing a fast and user-friendly tool to diversify users' portfolios and generate maximum APY from yield farming. That is why issuing of new indexes is under users' control in form of autonomous DAO.
The big benefit for the overall DeHive project is the fact that the issuer of the index will earn part of APY from yield farming of his index stakes. We have prepared an article about it here.
Question 4. As it is known, strong investors and partners in the crypto market have always provided good benefits to new projects. At this point, can you tell us about the investors and partners of your project? What benefits do you expect from these partners and investors ?
Sergey: We really appreciate partners and VCs that could bring more value to DeHive since all of us are on the same boat for the long term. The team is highly appreciates marketing, promotion, community, and technical support as well as advisory in different areas. Our backers helped us a lot in different ways and we are glad to announce them.
We have summarized the private sale details here.
Question 5. Can you share with us your Tokenomics? About the $DHV token, can you tell us about its total supply, availability, and where we can buy it ?
Sergey: There is a 10 million maximum supply of DHV tokens that will be distributed gradually. you can check the detailed descr here. We closed the presale round for $900k in 10 minutes on March 24. Right now we are hosting a public sale for a big audience on April 14 and will sell more than 1 million DHV. Public sale will be hosted on delivery. finance. Visit @DeHive_chat to stay tuned. Also, the circulating supply on TGE will be only up to 150k DHV.
Question 6. Finally, can you give us some information about your roadmap and how #DeHive has progressed so far? What awaits us in the future?
Sergey: Sure, as I mentioned we are aiming to expand our project and go cross-chain soon. BSC and Polkadot integration as well as a fully functional platform launch in July are our priorities. There is our detailed roadmap here.
Stage 2 (Twitter users' questions, our guest’s answers)
Twitter Question 1 (from @Costariclipo)
Could you please tell me just a little more about the team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes.
Sergey: Of course, the team is the core of any project, especially when you need smooth work within a short period of time. As I said before DeHive project is developed and maintained by Blaize - an experienced team of devs with full knowledge of the market. From head to toe. Since we are delivering solutions for such partners as Akropolis, Solana, Remme, Breaker, Celo, Zokyo, and many more. We actually prepared an article about clue team members behind DeHive Finance. The idea of developing our own in-house project has been crossing my mind for a while. And now we are here with DeHive. Gathering the right knowledge of market, financial, marketing and development parts.
Twitter Question 2 (from @RandyNava21)
I read from the website that the Dehive project doesn't have a liquidity pool, so can you please tell us what is the use of the $DHV token? What is your community possible to do with $DHV in your ecosystem? What makes the $DHV token important ?
Sergey: First of all, I would like to underline - there is no commission to issue the initial Index. The user contributes ETH and gets the index (indexes) in the corresponding amount.
We created DHV token for such purposes:
- Protocol economy support during index redemption;
- Depositing along with the index as the additional (and completely redeemable) support - to get yield;
- Liquidity mining;
- Protocol governance;
- Custom index issuing;
- Support of protocol treasury.
A lot of DHV token functions influence the amount of yield the user will generate and the overall direction of the DeHive protocol. Of course, holding the index is not the only option available within the protocol. To enable yield farming, the user needs to stake the DeHive Index along with a supporting amount of DHV tokens. The DHV deposit will be returned to the user together with the profit from the yield farming after the unstacking. Read more about our tokenomics I have shared above.
Twitter Question 3 (@Monisona10)
How will your “NFT Index” development be implemented and how will such index be able to capture the economical segments of popular NFT marketplaces to ensure greater profitability? Do you also have plans to develop your own NFT and what function will it have within your platform ?
Sergey: NFT market is on top indeed.
We have foreseen this coming, so our roadmap already includes the NFT index development to cover this part of the crypto market.
We have several ideas connected to NFTs, NFT indexing, and NFT index. All of them will be announced based on our roadmap. Yes, in the first place NFT associates with crypto-art and CryptoKitties. Though NFT technology is already infiltrating the DeFi market, it can be perfectly connected with financial instruments like futures and options. And we see great potential in combining crypto-index ideas and non-fungible elements. For now, we plan to keep plans for the NFT index in secret, but I think you get the point of our interpretation 😁
Anthony-Kriptobi : Looks like you will have great work with the NFT space in the future :) 😎
Sergey: Yes! and we are preparing smth very special with NFTs, so stay updated with our @dehive_ann channel, we will announce it very soon!
Anthony-Kriptobi: we look forward to new developments impatiently :)
CryptoJoker: In the meantime, we prepared a Turkish poster about the project. I think it is useful to share this too :)
Sergey: Very cool! Could you also share it on your Twitter ?)
CryptoJoker: Of course!
Stage 3 (Live questions of community members, our guest’s answers)
Live Question 1. Only getting users, holders, etc is not everything. In my opinion, a project needs to deal with solving a real-world issue or problem What is the problem that your project primarily focuses on ?
Sergey: DeHive is here to provide a first-to-market decentralized crypto index. There are no truly decentralized solutions here right now.
DeHive platform ensures decentralization through the independent mechanism of acquiring and storing tokens. DeHive is a smart contract-driven solution. Our underlying list for the indexes is based on the thorough analysis by the DeFi experts and experienced traders, as well as general token performing on the market. The indexes can be used as a tool for market assessment, that is what we strive to implement for DeFi. As far as. DeHIve index is completely decentralized and market regulated, it can perfectly fulfill this task.
Live Question 2. Binance smart Chain blockchain is having high transaction speed and cheap gas fees, Are you planning to launch your magnet or switch to other blockchains in the future ?
Sergey: Yes, surely. BSC integration is in our closest pipeline! you can check more here https://dehive.finance/roadmap
Live Question 3. On moving forward through your roadmap, what are your most important next priorities? Does your team have enough fundamental (Funds, Community, etc) to achieve those milestones ?
Sergey: The most important priorities for us for now: launch yield farming for indexes, complete integration of Binance chain to launch the cross-chain indexes, NFT for index ownership.
Live Question 4. Do you have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to invest?
Sergey: Good one. We have fixed a 10 mln supply of DHV tokens, we will not mint anymore or burn any. This decision is driven by the health economy practices. The utility of DHV flows from its usage within the platform, so we incentivize to lock more tokens (to extract them from circulation) for having more profits from yield farming, and involve users in DeHive platform governance.
Live Question 5. Smart contracts are prone to bugs, How efficient and secure is your smart contract. Have you ever been audited through external parties, so we are sure that this project is safe and good for the future of investors ?
Sergey: Security is the highest priority for every DeFi🦾 As you know already, DeHive is built by Blaize's team of blockchain devs that runs its own in-house team of auditors. Yet, nothing can be perfect enough, that is why we partnered with Zokyo in terms of DeHive platform audit and attack prevention. Zokyo is a top-tier US-based auditors team, so we can be sure our safety is in the right hands. More you can check here.
Live Question 6. How Do you planning to promote your project in different countries, wherein English is not spoken well? Do you have local communities for them to better understand your project ?
Sergey: sure, mass adoption is getting with multilingual communities.
and we are aware that there are many markets where crypto is performing very well, but they are not English natives, like Asian markets. Turkey and Vietnam markets are also going to dive into crypto right now. We have made a strategic partnership with a few very influential funds to reach out to those communities and go global.
You can check how diverse we are here. We have made a strategic partnership with Asian-based, EU-based, Australian-based, US-based, and UAE-based funds to get the maximum widespread.
Live Question 7. Staking is a great way to hold investors and rewards user. Does your project support staking ?
Sergey: yes, we will enable DeHive Index staking within the platform. The staking will also bring the additional benefit in a form of yield.
In essence, it comprises the following four steps:
-User locks a certain amount of their acquired index tokens along with the DHV token so stake it within the protocol;
- The smart contract using the in-built oracles retrieves the current prices of the underlying crypto-assets;
- Corresponding to the chosen index, the platform sends the underlying currencies separately to the yield farming protocols using the most optimized strategies;
- The converted yield is returned to the user in the form of new index tokens backed by the profit generated.
After this answer, we came to the end of the 3rd stage and the whole event. We thank our guests for not breaking our kind offer and for joining our community.