Tadpole Finance SatoshiClub AMA from 18 November

Tadpole Finance SatoshiClub AMA from 18 November


Hello, Satoshi clubbers Another AMA took place at Satoshi Club and we would like to introduce to you the AMA session with our friends from Tadpole Finance. The AMA took place on 18 November.

The AMA session was divided into 3 parts with a total crypto reward pool of 800$ in DOGE.

In this AMA Recap we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Mary | Satoshi Clubadmin
Hello, Satoshi Club! We are happy to announce our AMA session with Tadpole Finance! @ngkong @drintari @oscardarmawan welcome to Satoshi Club:grinning:

D. | Satoshi Clubadmin
hello everyone!
@ngkong @drintari @oscardarmawan hello and welcome! :smiley:

William
Hello everyone!
Thank you for inviting us

Mary | Satoshi Clubadmin
Hello, William :grinning: welcome here
How are you today?:grinning:

William
I’m great, thank you for asking

especially with all crypto bullish today
i’m sure everyone is doing great here

Mary | Satoshi Clubadmin
Yes, what a day to be alive :joy:
Could you please introduce yourself and Tadpole Finance, of course :+1:

William
surely
my name is William Sutanto, co-founder and CTO of Indodax. The first and the largest crypto exchange in Indonesia. Established in 2014
I found an interesting area in Lending DeFi platform that can be improved. So we are trying to build Tadpole Finance
Tadpole Finance basically is a lending DeFi platform running on Ethereum network

Mary | Satoshi Clubadmin
Is Tadpole platform operational now or it’s still in the development?

William
Currently it is still in development. If you open our website https://tadpole.finance, saving and lending logic is working but on Goerli Testnet
Tadpole Finance
Decentralized Finance Platform for Saving and Lending Crypto

Mary | Satoshi Clubadmin
Yes, i saw:grinning: but i thought may be some functions already working and i missed that
How is testing going?

William
We just launched this project last month, we need to do a lot of tests and formal audit before launch it into the mainnet
some functions are working like genesis (closed) and DEX mining but the main function itself (saving and lending), is not ready in the mainnet

Mary | Satoshi Clubadmin
Oh, that’s great, hope everything will be ready for launch soon:grinning:

D. | Satoshi Clubadmin
and when mainnet will be launch?

William
so far so good, we still need to add more unfinished functionality, but the basic functions are working perfectly
our target is by December 2020 and as late as early next year (Q1)

D. | Satoshi Clubadmin
great! very soon

Mary | Satoshi Clubadmin
Waiting for this exciting announcement

William
we try to move fast

Mary | Satoshi Clubadmin
Thank you for impressive intro:+1: Are you ready for the questions from our community?)

William
sure

happy to answer all the questions

D. | Satoshi Clubadmin
let’s go then! :smiley:

Q1 from Telegram user @olaf_gudjonson

Tadpole Finance is an experimental project to create a more open lending markets, where users can make deposits and loans with any ERC20 tokens on the Ethereum network. Sorry for paying attention so much to semantics, but don’t you think that saying that your project is experimental, in an ecosystem which is under attack of hackers, where there is uncertainty and DeFi projects are constantly hacked, is not so assuring for your users?

William
We try to as open as possible to our community and all the supporters. Blockchain itself is still in experimental phase, moreover DeFi which is running under blockchain network. We want all users to know the risk that is bound to the DeFi ecosystem

Mary | Satoshi Clubadmin
Do you envisage something like an insurance fund in case something goes wrong?

William
I understand many people trying to convince that blockchain and DeFi is the future, it is true, but please also pay attention to the risks associate with it
in the lending platform, there is a small percentage of the interest profit that will be accumulated in the platform. That can be a sort of an insurance for the system when it goes south
That’s also the reason we don’t rush launching this project in the mainnet. Many measurements need to be done because this platform will handle real money

Mary | Satoshi Clubadmin
It’s great that you created it. And, yes, it should be checked hundreds of times, i see that you have clear understanding of security importance :grinning:

William
of course, i’m also running an exchange. security is basically our 1st priority

Mary | Satoshi Clubadmin
Can i ask you if you had any accidents with security on your exchange?

William
because of recent DeFi hype, many people rushing on launching the project in mainnet, we don’t want to do that

Mary | Satoshi Clubadmin
Yes, that’s right and it’s wise decision :grinning:

D. | Satoshi Clubadmin
yes, it’s greed. people trying to earn fast money, most of them don’t think about security of their product

William
Small accidents happen, hackers are very persistent on doing phishing attempts for example

Mary | Satoshi Clubadmin
Oh, i am very familiar with phishing :joy: actually, had such accident personally, but it was a perfect lesson
Thank you for clarifications and are you ready for the next question?)

William
yes, basic security knowledge is very important for crypto traders/investors. always enable 2fa, dont use same password twice, and dont install unverified software
be careful clicking any links in your inbox

Mary | Satoshi Club
Thank you for clarifications and are you ready for the next question?)
Sure

D. | Satoshi Clubadmin
double-check everything :+1:

Q2 from Telegram user @peerpeer

To lend USDT is 3.71% at the moment. Why should I lend at tadpole if on Binance I have 5.31% for 7 days period lending? Why on some pairs there is zero percentage? or there is no supply yet?

William
This is still in the testnet. In reality when it launches in the mainnet, usually interest will be adjusted with global markets, averaged between all DeFi platform (trust on the platform also calculated).

Mary | Satoshi Clubadmin
So, everything is a subject of changes?

William
the reason for 0 percentage is same, because it is still in testnet. no one test for lending on that platform, that’s why the interest is 0. the interest is calculated by measuring lending (demand) vs saving (supply). when demand is 0, interest will be 0 as well
the interest is calculated algorithmically. it adjusts itself according to demand and supplyso it is the nature that the interest will change overtime

Mary | Satoshi Clubadmin
got it, thank you:grinning:
We should wait till the launch date and then we will be able to compare with other platforms :grinning:

William
for the interest percentage, yes

Mary | Satoshi Clubadmin
:ok:, ready to go forward to the next question?

William
sure

Q3 from Telegram Username @KhaleesiTheCryptoLady

Tadpole Finance ultimate goal is to create an open ecosystem in which users can freely add any ERC20 tokens to be listed in the DeFi lending system, what are the procedures or any requirement for adding ERC20 tokens in this system? Does this includes all DeFi Tokens even the Rug pulled tokens?

William
Yes, it includes everything. Just like Uniswap can be used to trade all tokens. The difference is, not all tokens will have collateral value. This is our feature to protect the ecosystem from failing.
To add ERC20, is as simple as calling a function in the smart contract. With all the erc20 details in the request

Mary | Satoshi Clubadmin
Nice feature, who will determine the collateral value on Tadpole platform — human or smartcontract or…?

William
this is the feature that we are developing as well. collateral value will be set algorithmically by measuring some variables like uniswap liquidity, price volatility, etc
algorithmically I meant by smartcontract

Mary | Satoshi Clubadmin
Did you create your own algorithm or you modificate some well known algorithms?

William
we create our own algorithm

D. | Satoshi Clubadmin
got it, thank you. BTW how many developers working at your project?

William
currently whole Indodax & Tokenomy (my other company) teams are helping. But in the near future we also will launch a developer reward program which will incentify any development in the platform by opensource community (basically all developers in the world who want to join)

Mary | Satoshi Clubadmin
Thank you:grinning:
I think developers will be definitely interested in your program:grinning:

D. | Satoshi Clubadmin
awesome! great perspectives for potential devs :+1:

Mary | Satoshi Clubadmin
Next question?)

William
sure

Q4 from Telegram Username @yzmoney

The distribution of the TAD token is as follow:
Genesis Mining: 200,000 (20%) (30 days period)
Platform Liquidity Mining: 500,000 (50%) (2 year period)
DEX Liquidity Mining: 200,000 (20%) (1 year period)
Developer Rewards: 100,000 (10%) (1 year period)
What will happend after the 2 year period ? how will you continue to retain user to provide liquidity or borrow / lending ?

William
we expect after 2 year, the platform will be mature enough that no incentive will be needed to retain users

D. | Satoshi Clubadmin
so all tokens will be in circulation after 2 years?

William
after all functionalities are ready, the platform will be handed over to the community with governance voting mechanism. it’s up to the community as well where this project will be headed
yes

Mary | Satoshi Clubadmin
Can we jump to the next question?

William
yes please

Q5 from Telegram Username @AmirJosh

Are you gonna implement a credit rating system for the customers of Tadpole’s Saving/Lending program? If yes, Is this gonna affect the borrowers lenght of payment and how much they can borrow?

William
we don’t have credit rating system yet in our plan, but that’s a very good idea!

Mary | Satoshi Clubadmin
You see, Satoshi Club’s members are very creative :+1:
May be you will use it in the future:grinning:

William
i must admit the depth of this group questions are very advanced

D. | Satoshi Clubadmin
they are studied your project well

William
usually questions are around pricing and tokenomics, when gecko & exchanges, this group is very different

very happy to join this community

D. | Satoshi Clubadmin
yes, and we have these kinda questions as well

Mary | Satoshi Clubadmin
Thank you:grinning: and now, as you don’t have any ratings — everyone will be equal for borrowing?

William
yes, borrowing power is based on the collateral that is locked in the platform

Mary | Satoshi Clubadmin
It’s clear:+1: thank you and we have 6th question, the last in this part of our AMA. Ready for it?

William
yessss

D. | Satoshi Clubadmin
let’s go!

Q6 from Telegram Username @PaoloMonte87

In one previous interview, Mr. Sutanto — TadPole’s co-founder and CTO of Indodax — explicitly defined Tadpole Finance as an experiment project an attempt to improve the actual lending & borrowing DeFi landscape. He defined the current DeFi ecosystem as “closed and exclusive, in plain contrast with the blockchain’s spirit”. I personally don’t feel that way, but I am open to be persuaded. Could you please express the reasons behind this view with regards to the actual DeFi platforms we have access to? What and how does Tadpole Finance manage to improve?

William
wow that is a long question

Mary | Satoshi Clubadmin
Yes:joy:

D. | Satoshi Clubadmin
yeah, last but not least

William
We see all the big lending platform out there. to list a token, it requires so much voting power that it is impossible for small to medium projects to be listed in DeFi lending platform. I believe voting power itself is very great mechanism for the blockchain industry to decentralize the finance industry, but some functionalities are supposed to be decided automatically by the smartcontract instead of depending on the voting process. For example Uniswap will notbe known as big as like today if all listing in the DEX requires voting mechanism. We want to bring this idea to saving/lending market
Tadpole Finance itself will have voting mechanism as well, but for more essential decisions like interest calculation algorithm, collateral algorithm, etc

Mary | Satoshi Clubadmin
It’s really actually what you offer. Do you have any competitors on the DeFi market in this field?

William
many lending platforms out there: Compound Finance, AAVE, maker, etc

Part 2 — live questions from the Telegram community

we will open chat for 120 seconds in second part and our guest will select best 10 questions from Satoshi club community

Q1 from Telegram user @ShaLiPon

Why I don’t see you in Tadpole Finance group, any reason behind in not joining the telegram group?

William:

  1. I’m in the group as admin, so my username doesnt appear
  2.  

Q2 from Telegram user @KhaleesiTheCryptoLady

What will be the major benefits of Indodax Exchange in building Tadpole Finance? Do you have any plans to link Tadpole Finance lending system in Indodax platform? Can you Share to us what are the major plans ahead between Indodax Exchange and Tadpole Finance?

William:

  1. Currently the platform is still very young, it’s still 1 month old. Since this project is initiated by Indodax & Tokenomy teams, we are looking forward for close partnership in the future

Q3 from Telegram user @furkannv

The biggest issues as of now in crypto is volatility and liquidity issues. What steps have been taken by your companie to overcome it?

William:

  1. As an exchange operator, we clearly understand this issue. That’s why we launched DEX staking program to make sure liquidity is adequate. We distribute 200,000 TAD or 20% of the distribution for maintaining the liquidity Q4 from Telegram user @jobel4
    Aside from Developer Rewards program, what other program are being cooked and prepare by Tadpole Finance to feed to the community? Do you have plan to add another menu for the members and the community of Tadpole Finance for them to stick with you for a long period of time? Thank you

Q4 from Telegram user @jobel4

Aside from Developer Rewards program, what other program are being cooked and prepare by Tadpole Finance to feed to the community? Do you have plan to add another menu for the members and the community of Tadpole Finance for them to stick with you for a long period of time? Thank you

William:

  1. we have 4 programs for the TAD distribution:
    Genesis Mining: 200,000
    Platform Liquidity Mining:
    DEX Liquidity Mining: 200,000
    Developer Rewards: 100,000

Genesis mining is over, now DEX liquidity mining program is running. Developer rewards program will be soon launched. And platform liquidity will be launched after the platform is ready in mainnet

Q5 from Telegram user Pratze

Do you have plan to make Swap mechanism for your platform? Could you please share what kind of new feature for TadPole Finance in the future that possible to increase the token value?

William:

  1. No. We can now swap easily directly from Metamask. I don’t see any real value providing swap functionality. Our main focus is saving and lending platform

Q6 from Telegram user Prof.Rz

How do you Encouraging developers to take the initiative s to participate in developing this project? How does the Developer Rewards Program works?

William:

  1. Developers gain many advantages joining DeFi opensource like this. First is the TAD reward itself, but more importantly is the knowledge and experience he or she getting from joining an opensource DeFi project, will be very valuable

Q7 from Telegram user @MOBILE1286

Can you list killer features project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about ?

William:

  1. our killer feature is the ability to add any tokens into the market, with all the security measurement to prevent system from failing. that’s the main feature that we are selling
  2.  

Q8 from Telegram user @jpsarmah

Why and what brainstorming made Tadpole Finance to take Compound Finance as its source?

William:

  1. Compound Finance is the most mature DeFi in the market now. We purposefully chose the most audited project as the base of our project

Q9 from Telegram user @andrewcoady

I saw that Tadpole will be listed on Bithumb soon. Are you planning to list on more exchanges too? Or Bithumb will be only one exchange where we can trade Tadpole?

William:

  1. Sure, please stay tuned

Q10 from Telegram user Corrie_Dorf

Hello Mr @ngkong I only guess, It seems you and Mr Oscar Darmawan (Founder of Indodax and Tokenomi) have a great relationship, are you both an old friend from same college?

William:

  1. for the last question i will answer the casual one, hahaha. Yes me and Oscar went to the same high school. We didn’t know each other that time. We just met when we had a business project together when we were in the 2nd year of college. Time flies so fast and now we’ve been partnering for more than 10 years

Part 3 — Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

For more information and future AMAs, join our Social Media channels:

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Our partners:
telegram group: https://t.me/TadpoleFinance or official channel https://t.me/TadpoleFinanceChannel
twitter: https://twitter.com/TadpoleFinance


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