An In-Depth Dialogue Record of Türkiye's Frontier Community Kriptobi & Dank Protocol AMA
This Tuesday, we hosted a wonderful AMA on the Kriptobi community’s official Telegram group, kicking off our journey into the future of Dank’s ecosystem. We will soon launch Dank’s lending protocol and a native fixed-rate protocol based on the Dank protocol.
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Guests:
Kriptobi & Dank AMA
Guests:
Katherine，Community Lead
Alejandro，Community Development (European & American)
Katherine：
Hello, I'm Katherine, community lead of Dank Protocol. Thank you for having us.
Hi everyone, my name is Katherine. Is the Community Lead for Dank Protocol. Thanks for inviting us here to do the AMA.
Ale：
Hello everyone, I’m Alejandro, part of Dank’s community development team and very excited to meet you all in today’s AMA session.
Hello everyone, my name is Alejandro, I am part of Dank Community Development, and it is a pleasure to meet you at today's AMA.
Kriptobi host:
Could you give us a brief introduction to Dank Protocol? What do you aim to do and solve in this sector?
Can you briefly introduce the Dank Protocol? What are you going to do and what problems are you going to solve in this field?
Ale：
Sure! DANK is an open-source Ethereum-based decentralized lending protocol, which aims to solve fund inefficiency in the De-Fi market and create a fixed income market. Dank's fundamental goal is to allow all valuable crypto assets to obtain diversified financial services, and create a long-term constant income flow, and financial foundation.
sure! Dank is a license-free open-source lending protocol based on Ethereum, which aims to solve the problem of capital inefficiency in the DeFi market and build a fixed-income market. The fundamental goal of Dank is to allow all valuable encrypted assets to obtain diversified financial services and create a sustainable technological financial foundation.
As everyone knows, as De-Fi matures, excessive speculation and unstable returns are difficult to maintain sustainable development. Our team has been thinking about how to make De-Fi truly sustainable; as we continue to work towards helping more people gain access to a stable and a constant income framework.
As we all know, as DeFi matures, excessive speculation and uncertain returns are difficult to maintain sustainable development. Our team has been thinking about how to make DeFi truly sustainable, so we will be committed to helping more More people get stable and sustainable income infrastructure.
Kriptobi host:
Can you talk about the products of the Dank Protocol project ? What are your main features that make you different from other competitors and what competitive advantages do you have ?
Could you please introduce the products of Dank Protocol? What are your main characteristics that make you different from other competitors, what are your competitive advantages?
Katherine：
As mentioned before, Dank is an open-source decentralized lending protocol. Broadly speaking, anyone can operate, build, and integrate Dank without restrictions.
As mentioned above, Dank is a license-free open source lending protocol, broadly speaking, anyone can use, build and integrate it without any restrictions.
First of all, the bottom-layer lending of DANK protocol is consistent with Comp and AAVE, that is, a variable interest rate lending protocol. Anyone can deposit and withdraw or lend their assets to obtain a floating interest rate.
First of all, the underlying lending of the DANK protocol is consistent with Comp and AAVE, that is, a variable interest rate lending agreement. Anyone can deposit, withdraw or borrow their own assets to obtain floating interest rates.
The main difference between DANK and others in the same field like: Comp and AAVE, is that Dank is more oriented towards the market of fixed interest rates, capital efficiency and interest rate derivatives. At the same time, DANK proposes a forward rate agreement contract swap model based on the floating interest rate market. Users can release the forward income of d-token at any time and obtain instant fixed income.
Different from COMP and AAVE, DANK is more focused on the fixed interest rate, capital efficiency and interest rate derivatives market. At the same time, DANK proposes a forward interest rate contract swap model based on the floating interest rate market. Users can release d-token's far Earn immediate fixed income.
My colleague Alejandro will be giving us an example of our protocol in a moment.
Let me ask my colleague Alejandro to give you an example.
Ale：
Let me give you guys an example to illustrate the direction of our protocol: Bob deposits 1 ETH into DANK protocol. Bob will also receive the deposit certificate minted by DANK protocol: 1 D-Eth
Let me give an example to explain the motivation and direction of our agreement. Bob deposits 1ETH in the DANK agreement, then Bob will also receive a deposit certificate minted by the DANK agreement: 1 d-ETH.
D-Eth is the same as C-Eth (Compound's deposit certificate), which represents the certificate of Bob's deposit and floating income. In fact, we found that Bob who holds D-Eth can make good use of the position that he has to wait for unguaranteed returns. If the attributes of D-Eth are minted and split, Bob’s D-Eth will be split into a principal token and a revenue token. Bob now has a flexible asset management method.
d-ETH, like c-ETH (Compound’s certificate of deposit), represents the certificate of Bob’s principal deposit and floating income. At this time, Bob holding d-ETH seems to be unable to do anything except wait for uncertain income . In fact, we found that Bob who holds d-ETHD can make good use of this position. Think about it, if the properties of d-ETH are minted and split, that is, Bob splits his d-ETH into principal token+ Earn tokens, then Bob will have a flexible asset management method.
Based on the principle of zero-coupon bonds, Bob can sell his own principal token at a discount without giving up the right to his basic principal, thereby obtaining higher capital efficiency.
Based on the principle of zero-coupon bonds, Bob can sell his own principal tokens at a discount without giving up the basic principal return rights, thereby obtaining higher capital efficiency.
If the variable interest rate market is positive in the future, Bob can release his earnings token ahead of time when the market is bullish.
If the variable interest rate market is active in the future, then Bob can release his income token in advance when the market confidence is positive
Bob does not sell his own principal token and income token, and engages in the business of providing liquidity based on the existing Dank's Fixed Rate Market, earning more handling fees.
Bob does not sell his own principal token + income token, and engages in the business of providing liquidity based on the existing Dank's Fixed Rate Market to earn more handling fees.
Simply put, if Bob wants stable or guaranteed income, then Bob can take his income rights in advance and sell them to the market (Dank's Fixed Rate Market) to obtain fixed income without having to worry about income fluctuations. On the other hand, if he wants to obtain higher capital efficiency, then his capital certificate can be sold to the market at any time with discount.
To put it simply, if Bob wants stable or definite income, then Bob can package and sell his income rights to the market (Dank's Fixed Rate Market) in advance to obtain fixed income without worrying about income fluctuations; On the other hand, if he wants to achieve higher capital efficiency, his principal certificates can be sold to the market at a discount at any time.
Kriptobi host:
In addition to lending protocol, we know that Dank Protocol also has fixed interest rate products. Fixed interest rates occupy a large market in the traditional financial industry. What do you think is the development prospect of fixed interest rates in the De-Fi market?
In addition to the lending agreement, we know that Dank Protocol also has fixed-rate products. Fixed interest rates occupy a large market in the traditional financial industry. What do you think of the development prospects of fixed interest rates in the De-Fi market?
Ale：
Fixed interest rates or fixed income holds a major position in traditional financial markets around the world. For example, it is recognizable that the fixed income market is huge by looking at the volume of US Treasury bonds, a market worth at around 28 trillion US dollars. Similarly, the next market in De-Fi is the same, especially now that the world's top financial institutions are working in secret towards blockchain acceptance to integrate into financial markets and applications.
Fixed interest rate or fixed income occupies a very important position in traditional financial markets around the world. If you don’t understand, we can look at the volume of U.S. treasury bonds to clearly understand this huge market. U.S. treasury bonds currently represent The volume is $28 trillion. Similarly, it is the same in the next market of DeFi, especially the current top financial institutions in the world want to secretly comply with blockchain finance and applications in an attempt to engage in such businesses.
Kriptobi host:
Many people are already attention interest in #NFT this year and NFT has become really popular. What kind of work do you have on the NFT field in your project ?
This year, many people have developed a strong interest in NFT and it has become very popular. What are the developments in the NFT field in your project?
Katherine：
Yes, NFTs have recently become extremely popular! In fact, we knew about NFTs very early on, especially since the 2017 CryptoKitties! At the time, it was the first NFT that had charmed the public.
Yes, NFT is so hot recently! In fact, we have known about NFT for a long time, especially the encryption cat in 2017! At that time, it was the first time that NFT showed his charm in public
As time passed, the development of NFTs brought more possibilities to crypto, like artwork, identity information, games, bills and vouchers, etc. We also released our own NFT called DANK-PUNK. At the moment, the definition of the DANK protocol for NFTs is more practical, as DANK protocol itself is a financial infrastructure.
With the growth of time, the development of NFT brings more possibilities to the entire encryption, special artwork, identity information, games, ticket certificates and so on. We also issued a NFT of our own called DANK-PUNK. At present, the definition of NFT by the DANK protocol is more practical, because the DANK protocol itself is a financial infrastructure.
We hope to rely on this bottom-layer to build chain identity and a future credit foundation. In regards to the definition of DANK-PUNK, we hope it to be the result of communitization rather than having our team to summarize and define it. We indeed have various ideas, but we hope that this is a cultural product led by the community.
For a brief description of DANK NFTs, please refer to this link: https://medium.com/dank-protocol/dank-nft-attributes-9fa1c7603bd0
We hope to rely on this bottom layer to build a pure symbol, on-chain identity and future credit foundation. Regarding the definition of DANK-PUNK, we hope that it is a community-based process, rather than our team summarizing and defining it. Of course, we have many ideas, but we hope that this is a cultural product led by the community. Some brief descriptions about DANK NFT can refer to this link:https://medium.com/dank-protocol/dank-nft-attributes-9fa1c7603bd0
If you have any ideas or comments about our NFTs, feel free to contact us!
By the way, if anyone has constructive ideas about our NFT, welcome to contact us!
Kriptobi host:
Can you talk about tokens ? What are the benefits for investors in holding tokens ? What are the usage areas ?
Can you talk about tokens? What are the benefits for investors to hold tokens? What are the areas of use?
Katherine：
I knew the community would like to know more about this! But, unfortunately details of the tokens have not been disclosed yet, but we will release relevant information soon and go public as soon as we get a green light from our developers, so stay tuned!
Haha I know a lot of people are following this. But I am sorry that the details of the token have not been disclosed yet, but we will release relevant details soon, and we will make it public as soon as we confirm it! Stay concerned!
Ale：
DANK is the native governance token of the DANK protocol. Its main purpose in the future is the governance of the protocol, including: delegation, voting, parameter setting, income transfers, and protocol upgrades.
DANK is the native governance token of the Dank protocol. Its main use in the future is the governance of the protocol, including: entrustment, voting, parameter setting, revenue transfer, protocol upgrade, etc.
Well there are plenty of cases in the history of crypto that long-term holding is the way to invest for generational wealth. Those who invest long-term will gain higher profit margins in the future. Generally speaking, the value of governance tokens largely reflects the consensus value given by the community and the protocol.
There are enough examples in the short history of the crypto space that long-termism is the essence of investing. For those long-term investors who invest, they will reap more profit margins in the future. In general, the value of governance tokens largely reflects the consensus value of the community and the protocol.
Kriptobi host:
Finally, How is #DankProtocol development going ? Can you describe current development status, market expansion plans, expected applications ? What awaits us in the future ?
Finally, how is the development of the Dank Protocol going? Can you describe the current development status, market expansion plans, expected applications? What awaits us in the future?
Katherine：
Our team at DANK has been studying models related to fixed interest rates, new protocol development, and Layer 2 for the past few months.
DANK has been researching models related to fixed interest rates, new protocol development, and Layer 2 for the past few months. In fact, it is more than that.
At this time, DANK's basic lending is about to launch. Just to disclose some private information, we have submitted the code to Certik for auditing, and are waiting for the final report from the agency.
At present, the basic loan of DANK is about to go online. Let me reveal that we have submitted the code to Certik for audit and are waiting for the final report from the audit agency.
In addition, our fixed interest rate Demo has been made public. After finishing off specifics and related security audit tests, we expect the fixed interest rate protocol to be launched around mid-October.
In addition, our fixed interest rate Demo has been made public. After refining the details and related security audit tests, we expect the fixed interest rate agreement to go online around mid-October.
In regards to the market plan, the current market size of De-Fi lending and income positions is about 50 billion U.S. dollars. It is clear to us that the next stage of the fixed income market is projected to grow exponentially large. In terms of PR, we have already begun to make a branding plan on a global scale. The next step is community building and strategic partnerships. In the future, we plan on sharing DANK products with more communities.
Market plan Here, the current market size of DeFi lending and income positions is about 50 billion US dollars. In the next stage, we will know more clearly that the export of the fixed-rate market will be even greater. In terms of PR, we have already started to make brand plans on a global scale. The next step is community building and some strategic partnerships. In the future, we will share products about DANK with more communities.
We have plans to find community leaders like nodes in various regions to be responsible for their local Dank community construction: online and offline activities. If you are interested, feel free to contact us.
And we have plans to find community leaders of similar nodes in various regions to be responsible for the construction of the local Dank community and the arrangement of online and offline activities. If you are interested, please contact us.
Ale：
For future applications, we hope that DANK will be integrated by more third parties, credit loans, identity vouchers, etc.
In the future application here, DANK will be integrated by more third parties, credit loans, identity certificates, etc.
De-Fi has already become an unstoppable force and is the single largest technological revolution after the discovery of the Internet. In the future, centralized banks such as Citigroup, JP Morgan, and Goldman Sachs may cease to exist as more banks could be made to be similar to that of DANK, Compound, and AAVE.
For the future, DeFi is already an irresistible trend for now. DeFi is already the biggest financial technology revolution after Internet technology. In the future, it may be unlikely that there will be centralized banks such as Citigroup, Morgan, and Goldman Sachs. Many are similar to DANK, Compound, AAVE, etc.
Once again, please feel free to join our community if you would like to know more about our project and to follow future developments! Looking forward to seeing all of you over there!
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The following five community questions were sampled for answers:
Audience:
Q1. A lot of scam projects lately. Pulling the rug creates a loss for investors. why should we trust your project? Aren't you going to do the same?
Q1. There have been many fraudulent projects recently, and investors have suffered losses. Why should we trust your project? Will you do the same?
Answer (answer):
There are a lot of known shitcoins on the market with the pump and dump hypes and we are very aware of that. We pride DANK in being a strong competitor in the lending protocol market. We aim to compete with protocols like AAVE, Compound, and others. Shitcoins like Doge, Shiba inu, and Safemoon have no utility and gain their value through speculation and hype.
There are a lot of well-known shitcoins in the market, and with the hype that goes up and down, we are very aware of this. We are proud that DANK is a strong competitor in the lending protocol market. Our goal is to compete with protocols like AAVE, Compound, etc. Shitcoins like Doge, Shiba inu, and Safemoon have no utility and gain value through speculation and hype.
Audience:
Q2. Can you tell us the 1-2 great features that stand out from Dank Protocol competitors?
Q2. Can you tell us 1-2 cool features that stand out from Dank Protocol competitors?
Answer (answer):
The main difference between DANK and others in the same field like: Comp and AAVE, is that Dank is more oriented towards the market of fixed interest rates, capital efficiency and interest rate derivatives.
The main difference between DANK and other companies in the same field (such as Comp and AAVE) is that Dank is more oriented to the fixed rate, capital efficiency and interest rate derivatives market.
Audience:
Q3. Hello Sir, Do you have AUDIT certificates? OR Are you working to AUDIT your project, to make it more secure and reliable?
Q3. Hello, do you have audit report? Or are you working on auditing your project to make it more secure and reliable?
Answer (answer):
Yes, as we mentioned. we have submitted the code to Certik for auditing, and are waiting for the final report from the agency. We are confident about it.
Yes, as we mentioned. We have submitted the code to Certik for review and are awaiting the agency's final report. We have full confidence in this.
Audience:
Q4. How important is the community to you? While you build your project, do you consider community reactions and demands?
Q4. How important is community to you? As you build your project, do you consider the community's reactions and needs?
Answer (answer):
The community is everything to us! Without the community’s support and interests we wouldn’t be where we are today. We are always very active on our social media channels. Join our Discord channel, and telegram group to give us feedback! We are always very happy to listen to the community and improve DANK.
Community is everything to us! We would not be where we are today without the support and interest of our community. We are always very active on our social media channels. Join our Discord channel and Telegram group to give us feedback! We are always happy to hear from the community and improve DANK.
Audience:Q5. Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project?
Q5. Are you planning to market your project in non-English-speaking countries? Do you have a local community to give them a better understanding of your project?
Answer (answer):
Yes absolutely, we plan to promote DANK in every region possible. We have 10 language channels on our discord chat! Including Russian, Spanish, Chinese, Portuguese, and so on. I personally speak English, Spanish, and Mandarin Chinese!
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About Dank Protocol
For more information on Dank, please visit:
For more information on Dank, please visit:
Official Website: https://dank-protocol.com/
Telegram: http://t.me/DankProtocol
Telegram: http://t.me/DankProtocol
Discord: https://discord.gg/3gZKTsZh
