Ama Recap FCM x Venice Finance

Tuesday, 21 December 2021,12PM UTC

Hi everyone and welcome to the AMA on Forum Crypto Moonlight Official Group We’re honored to host an Ask-Me-Anything session with @venicefinance

welcome to our community Mr Alex Park, Head Of Marketing Venice Finance

Alex Park :  glad to be here, thanks Ryan

I will explain a little about the AMA segment this time,

Segment 1: Project introduction

Segment 2: Question Twitter

Segment 3: Live Question

SESSION PROJECT INTRODUCTION

Q1. Can you please introduce yourself and share a quick overview of Venice Finance?

Alex Park : Hi Everyone, this is Alex Park, Head of Marketing at Venice Finance At Venice Finance, I am leading the marketing and growth team to pioneer and innovate the blockchain ecosystem.

After graduating from USC in 2013, I have spent almost 7 years in the Fintech industry and got involved in the Blockchain field in 2019. Before joining Venice, I was the Chief Marketing Officer for a cross-border payment company based in Asia, where I gained valuable insights on the friction & pain points of the legacy payment system. I certainly understand the need to revolutionize every block in the #TradFi system and how blockchain helps transform it with more decentralization and transparency; also, after so many years of experience dealing with kyc providers and capricious regulations, I also understand the importance of privacy preservation to build a real, open, decentralized financial system.

Venice is the next-generation, Zero Knowledge powered decentralized exchange, primarily focused on privacy preservation, front-running resistance and cross-chain liquidity aggregation. At launch, Venice will be the first front-running resistant, privacy-preserving Automated Market Maker (AMM) Decentralized Exchange (DEX) in the world. Venice is an innovative project on the market that has made huge strides over a short period of time compared to other similar projects.

Q2. Can you explain why you chose to build Venice Finance as the first dex on Findora? What is your plan on connecting & bridging to the other ecosystems including popular blockchains like ETH, BSC, Polygon, Solana,…?

Alex Park : Findora utilizes the latest breakthroughs in zero-knowledge proofs, Bulletproofs, and multi-party computation, to allow users transactional privacy with selective disclosure and auditability. This is the biggest advantage of Findora over other public blockchains.

herefore, based on Findora,  Venice could offer a programmable & composable privacy solution for liquidity migration across all blockchain bridges. Venice aims to be the Chain-agnostic Liquidity Hub, where users can frictionlessly and trustlessly move liquidity inter-ecosystem without revealing their position or identity.

Additionally, Findora Foundation has committed $10 million worth of liquidity from its $100MM+ Ecosystem Fund towards the Venice launch.

Q3. Compared to the existing AMM DEX in the market, what advantage does Venice Finance have?

Alex Park : Well, as the first front-running resistant, privacy-preserving AMA DEX, Venice stands out because of three strength as follows:

First, advanced cryptography algorithms including Bulletproofs, Turbo-PLONK, MPC, etc. to encrypt smart contract inputs. Venice enjoys a function of front-running resistance and full anonymity to protect users from value extracting players.

Second, community-Oriented Governance as VENI’s innovative deflationary tokenomics design and game-theoretic-inspired mining mechanism guarantees long-term sustainability of Venice protocol. We let venetians collectively decide on the optimum solution for the protocol through farming, staking and voting.

Third, chain-agnostic liquidity hub. Venice allows users to frictionlessly and trustlessly move the liquidity inter-ecosystem without revealing their position or identity. Findora Foundation has committed $10 million worth of liquidity from its $100MM+ Ecosystem Fund towards the Venice launch.

Q4. What’s the Venice business model?

Alex Park : Basically, Venice Finance is governed and controlled by $VENI – the governance token for Venice Finance. Users of Venice Finance can earn $VENI to participate in shaping the future of the first front-running resistant, privacy-preserving AMM DEX.

VENI’s governance is community-oriented. VENI’s innovative deflationary tokenomics design and game-theoretic-inspired mining mechanism guarantees long-term sustainability of Venice protocol. We let venetians collectively decide on the optimum solution for the protocol through farming, staking and voting.

Total supply of $VENI is set at 1,000,000,000. This amount is a non-inflationary fixed supply set at launch. 10% of the $VENI supply was distributed at the genesis event to Venice liquidity providers and stakers. The remaining 90% is distributed over the course of four years.

Currently 0.3% trading fees are reinvested back in the liquidity pools providing income for LPs in addition to LP rewards. We are looking to use a portion of trading fees for $VENI buyback. This would be a feature upgrade that $VENI holders would vote on.

A unique feature of Venice is the$VENI governance token which enables changes to Venice protocol code via proposals. Approximately 25% of $VENI distribution over the next four years will be allocated to a development pool which will fund future product development, marketing, rewards, and liquidity provider acquisition. In the spirit of decentralization, we want $VENI stakeholders to play an integral role in the direction of Venice Finance.

We design this to balance value capture and to award long time investors.

Several KOL and investors including DHVC and Findora discussed this innovative token economics.

Q5. I heard Venice Finance will do IDO at Tokensoft soon. Can you give us some details about IDO?

Alex Park : Sure. Please stay tuned for further announcements. Please check https://testnet.venice.finance/ for beta product on testnet.

Please visit us at Venice Finance for official site updates

Join our telegram channel at: https://t.me/venicefinance

Join our telegram Announcement: https://t.me/venice_finance

Join Our discord at: https://discord.gg/CbCDJvk3

We will post daily updates about our product, roadmap and also we have various different campaigns coming up! So stay tuned for more information.

SESSION QUESTION FROM TWITTER

Q1, From @DocilLonte how does Venice protect its users from malicious exploits such as GPA-style front-running/MEV attacks, transaction linkages, identity traceability, and so on?

Alex Park : Front-running has always been a problem for DEX and AMMs. Front running is When a trader sticks with the deal, watching the price accumulation, and figuring out when to slip past the other traders at the final possible moment to make a profit, since blockchain transactions are broadcast publicly, people on the lookout can spot large deals about to take place and submit their own trades to profit from the scenario. Good news is the Bulletproofs functionality can solve this problem and it is now live on Findora’s privacy-preserving UTXO ledger. Venice supports trades/swaps wherein the asset type and amount are masked, effectively removing any chance of malicious users exploiting the system. It also provides an elegant mechanism to prevent front-running while maintaining the ideology behind a completely decentralized and transparent system.

Q2, From @rex08121990 Every project requires marketing in order for everyone to understand the potential that a project has to offer. What is your plan for attracting new users and investors to your platform and keeping them on for the long haul?

Alex Park : We learned from our past experience that marketing is never enough for community members’ participation, so we decided to combine it with DAO governance.

A unique feature of Venice is the$VENI governance token which enables changes to Venice protocol code via proposals. Approximately 25% of $VENI distribution over the next four years will be allocated to a development pool which will fund future product development, marketing, rewards, and liquidity provider acquisition. In the spirit of decentralization, we want $VENI stakeholders to play an integral role in the direction of Venice Finance.

And of course, other than DAO with unique tokenomics, we are also planning a Global Ambassador program.

Q3, From @Durjana12345 Could you please tell us about #Venice token, and What are the token use-case, distribution, and where we can buy it?

Alex Park : Currently 0.3% trading fees are reinvested back in the liquidity pools providing income for LPs in addition to LP rewards. We are looking to use a portion of trading fees for $VENI buyback. This would be a feature upgrade that $VENI holders would vote on.

Pls check https://testnet.venice.finance/ for Venice (VENI) Public Sale KYC. The public sales registration starts on 28 Dec. 11.45pm EST time. Please don’t miss it if you are interested.

Q4, From @Withoutyousam A strong community not only brings interesting ideas to theproject but also attracts larger partners. So how #Venice Finance planning to build its community? And is there a plan to recruit people with Blockchain experience to the #Venice Finance team?

Alex Park : Venice is a 100% community driven blockchain project, so we wish we could have a robust community to mature the development of Venice Finance. community-Oriented Governance as VENI’s innovative deflationary tokenomics design and game-theoretic-inspired mining mechanism guarantees long-term sustainability of Venice protocol. We let venetians collectively decide on the optimum solution for the protocol through farming, staking and voting.

Q5, From @tokyomanji98 Can you describe in detail your current project development efforts, market expansion plans, expected applications, and when they will be commercially avail?

Alex Park : For this question, I could share the info about our roadmap.So far everything is going as per the roadmap as follows

Venice is designed to function as the first front-running resistant, privacy-preserving AMA DEX offering unique functionalities such as advanced cryptography algorithms including Bulletproofs, Turbo-PLONK, MPC, etc. to encrypt smart contract inputs. Venice will launch different versions on Testnet and Mainnet, and integrate bridge to Ethereum and BSC, Bitcoin, Harmony and Arbitrum, and Polygon. We will receive $10 million liquidity in Governance & VENI community DAO provided by Findora Foundation. We plan to and roll out single-sided liquidity provision, staking rewards auto-compounding, stablecoin swap , and the launchpad for new project incubation next year. Going forwards, we expect community members to participate.

SESSION LIVE Q&A

 Q1. Where can I buy your tokens now, what are your current contracts and how can I buy them and what are the benefits?

Alex Park : We will announce our IDO on tokensoft shortly, please stay tuned and follow our social channels.

Please visit us at Venice Finance for official site updates

Join our telegram channel at: https://t.me/venicefinance

Join our telegram Announcement: https://t.me/venice_finance

Join Our discord at: https://discord.gg/CbCDJvk3

Q2.Which do you think is more important:

A. Community

B. Investors

C. Token Price

If all of the above is important to you, whiich should come first?

Alex Park :  Community is always the first, as Venice is a 100% community driven project.

Q3.Security is the most important thing to consider when wanting to start a project, how secure is project for users and investors..??

Alex Park : To protect user’s privacy and security, the transaction you made on Venice is made confidentially and anonymously. This simply means that you won’t be targeted by hackers because hackers won’t know WHO’s making the transaction nor HOW MUCH the amount is being processed. This is achieved by the Bulletproofs functionality by encrypting the transaction so the transaction isn’t visible to other people’s eyes; which is now being practiced by Findora on its privacy-preserving UTXO ledger.

Also, Venice is partnering with top auditing firms including Certik to guarantee the security of users’ money.

Q4.Truly, you’ve done AMA in many telegram groups, so what next, what other way will you make your project more popular?

Alex Park : We will announce our global ambassador  program in the near future to expand our community.

Q5. Is AIRDROP already open in your project?

Alex Park : Not yet, but the Airdrop will go live next week!!!

Telegram Group official : https://t.me/venicefinance

Telegram Channel Official : https://t.me/venice_finance

Twitter official : https://twitter.com/venicefinance

Medium : https://venicefinance.medium.com/

Discord : https://discord.gg/9tbnSEGz

Website : https://venice.finance/

Tinggalkan Balasan

Alamat email Anda tidak akan dipublikasikan.

Previous post Ama Recap FCM x Goldefy
Next post Review singkat Lamden, proyek yang diinvest oleh MEXC Pioneer