Wednesday 24th May 12PM UTC
Joel Natanael : Hello everyone welcome back again to AMA series FCM. Today we will have an AMA with Mr. Terry Lam as Co-Founder of aCoconut 🥳
Thank you for having AMA here again sir, after our first AMA for the acBTC project, today we will have AMA for aCoconut project. I hope this AMA will be as awesome as the previous AMA 😎
I’ll explain a little bit about how the AMA will works today
There are 3 segment in this AMA
Segment 1: Project Introduction
Segment 2: Question from Twitter
Segment 3: Free Asking
Before we go to segment 1
Can you explain to us a little about your background before entering the cryptocurrency world and why did you finally decide to become Co-Founder of aCoconut?
Terry L. : My background is traditional finance
Started nuts finance in 2018
Nuts finance is the development Dao behind acoconut
We entered the blockchain space because we saw an opportunity to leverage blockchain technology to improve existing workflows in financial services
We launched a number of blockchain solutions even before ACoconut
SESSION INTRODUCTION PROJECT
Q1. Can you explain to us about ACoconut? What is the mission of this project and what problems that ACoconut wants to solve in this crypto space?
Terry L. : ACoconut is a btc defi project
Designed to bring the best yield for btc holders across different networks
ACoconut is launched on bsc and Ethereum
Btc holders can deposit Bitcoin or Bitcoin yield tokens to earn yield in Bitcoin
Q2. What is BTCB+? How can we participate and get reward?
Terry L. : Btcb+ is a synthetic btc on bsc
It is designed to provide btcb holders with maximum risk adjusted yield
Btcb holders can mint btcb+ directly
The interests earned is paid out in btcb
Joel Natanael : So instead of just holding it back, through this project we can also earn interest from your project
Terry L. : correct
interests is paid out in btcb
So you can just mint btcb+ and watch your balance grow
Redeem back into btcb anytime
SESSION QUESTION FROM TWITTER
Q1. From @Alifa_crypto
Every project innovators are always on the edge of giving the positive and good features of their project, but can you kindly give few killer features of your project to investors?
Terry L. :1.cross chain btc yield aggregator
2. interests are paid in btc
3. synthetic assets are 1:1 backed by btc
4/.support different forms of btc and btc yield tokens
Q2. From @SawsanTefa Unfortunately, many projects have penetrated the market with white papers just without real use cases. What is the main purpose of your coin?
Terry L. : AC token is the governance token for the ACoconut project. It serves a few purpose
1/ AC can be locked for vAC. Wv the vAC user can vote in the governance portal
2/ AC is also used to incentivize users for depositing into our strategies
3/ AC is used in insurance reserve pool. Users can purchase insurance cover with AC and any potential losses would be paid out in AC
4/ AC is also bought back in the open market with performance fees collected to replenish mining pools. Keeping inflationary pressure to an extent
Q3. From @kenny_kimora
Regarding cross-chain issues such as extremely slow speeds and high costs, how will NUTSfinance deal with them ??
Terry L. : So the ACoconut product suite is launched on both bsc and Ethereum
In cases of extreme high gas costs, we would encourage users to use bsc
on the Ethereum side, we are working on scaling solution platforms such as matic
Which could help improve transaction speed
however, we aim to deploy our? solutions on multiple networks
So users have options to choose in case of network bottlenecks
Q4. From @Benjami129
Can you share your Revenue and income generating strategies with us? How do you ensure investing in your project is a win win for both the project and we the investors?
Terry L. : Revenue model is quite simple
The platform charges a 10% performance fees on all strategies
Which means the higher the tvl of the platform, the greater the recurring revenue
the fees is collected in btc, and it is used to buy back AC from the open market to replenish mining pool
Q5. From @Mira9856 What are the main targets, partnerships that trying to achieve in the near future? And do you already have collaborative connections with strategic partners in the crypto world?
Terry L. : These are our partners
They include defi projects, oracles, security auditors
we are also preparing to launch a campaign targeting curve LP users
It will be coming out this week
SESSION FREE ASKING
Q1. kuluk and uhuk : One major source of problem in DeFi is smart contract vulnerability, which has lead to loss of funds, what steps have been taken your project to fix this major problem and avoid future occurrences ?
Terry L. : 1/ two independent audits by peckshield and secbit labs
2/ a third audit is ongoing with consensys diligence
3/we follow closely every security breach in the space to understand the loopholes and we are constantly upgrading our security measures
Q2.Faking Lood : Can you tell us about your plans for long-term? what you are currently working on?and what strategy will be used to expand globally?
Terry L. : We will be launching a series of campaigns to promote tvl on both Ethereum and bsc. If u hold btc you should definitely check us out
ACoconut is the only product currently paying out yield in Bitcoin
Completely non custodial as well
Q3. 🇦🇷🇦🇷Messi🇦🇷🇦🇷 : Can you list 1-3 killer features of Your Project that makes it ahead of its competitors???
What is the competitive advantage your platform has that, you feel most confident about???
Terry L. : 1/ cross chain compatible
2/ highly secure
3/ competitive yield
4/ yield is paid out in btc
5/ accepts different forms of btc and btc yield tokens 6/ compatible with other defi protocols
If you’re holding btc, definitely check us out ACoconut is offering the highest yield paid out in btc. Cross chain compatible Also completely non custodial
BSC > bsc.ACoconut.fi
Ethereum > app.ACoconut.fiTerry L – Co-Founder