Skyrim Finance & The AMA Room Recap
Hi there, community. Hope you are having a great day wherever you are.
Yesterday (On May 6th), we partnered with The AMA Room and did our very first AMA session since the launch of Skyrim Finance.
So we are thrilled to share with you a recap from the hour-long exclusive ask-me-anything with their community of over 4,000 active users! We’d like to thank The AMA Room for inviting us. We enjoyed talking with everyone.
Without further ado, here is a replay of the entire conversation! Make sure you read them all. 😉
Q: How’s everything?
A: Everything is good and going smooth. Skyrim Finance was launched just on time. It is a pleasure to be here.
Q: Before we start talking about the launch, please introduce yourself to the community, your background, and how you got into crypto?
A: Sure. I have been in this space for almost 4 years. Before completely involved in Skyrim. I worked for CEX for two years, responsible for marketing and international ops. After a while, I was ready to explore the DeFi world. I was involved in some crypto projects working on BD/Content/Community Growth. And for the foreseeable future, I am going to be a full-time Skyrim preacher.
Q: Well, what is Skyrim? and how did the idea come about?
A: First of all. Can we all agree the name is pretty cool?
So, with Skyrim Finance, we aim to create a blended product that fits these two target markets so that participants can have a single-touch hedged approach to DeFi.
So based on our research and observation, the DeFi market consists of at least two general types of DeFi investors.
One seeking the fixed-rate APY without standard risk. And there are also many yield farmers seeking higher yield farming APY with high leverage.
We want to fill the market void with our design and create a single-touch hedged approach to DeFi.
Q: What are the benefits and unique points of Skyrim? There are quite several platforms that have the same solution like yours.
A: So what distinguishes us from other projects is the underlying design. We want to take advantage of the flexibility and customizability of Structured Finance and combine it with DeFi. And we are pretty specific in terms of our services:
As Skyrim Finance is a Multichain Decentralized Structured Finance Protocol for Fixed-rate and Leveraged-yield DeFi Products.
And our Junior/Senior investment structures are pretty unique too. I don’t think there is a similar project.
Q: Now that Skyrim is launched, can you show us how cool it looks?
A: Of course. As you can see, this is our architecture.
So Skyrim Finance is ultimately an ecosystem of DeFi products with the risk-adjusted return. We will use a multitude of strategies and different parties to optimize yield through both fixed APY vaults and yield farming opportunities.
Q: How do you protect yourself from losses? I mean as far as Skyrim is concerned.
A: Sure. Then it is time to talk about dTRANCHE. dTRANCHE is the first product we are building for the network.
As you can see, the workflow consists of five main components:
- Collateral Deposit/Withdraw (Deposit/Withdraw)
- Yield Tokenization (Invest)
- Vault of Yield (Vault)
- Yield Clearing Process (Settlement)
- and Liquidity Pool Reward (Pool)
And to protect our users and the network, we need to make sure the target yield assets in the DeFi market have enough TVL to avoid volatility due to liquidity issues and they need to have a sustainable yield in the long run. Thus, we list the potential candidates below:
- Lending: Maker, Compound, AAVE
- Exchange: Uniswap, Sushiswap, 1inch
- Derivative: Synthetix, Hegic, Cover
We believe there are always risks involved. The concept of a risk-free environment is dangerous and futile. What we can do is to offer users good options and make iterations upon that, step by step.
Q: Well how does $SKYRIM fit in all this?
A: So we are going to adopt a dual token structure. There are a total of 100 million $SKYRIM utility tokens, which will be used for liquidity mining and rewards, incentives for innovative products, governance, and voting. And most importantly, it can serve as grants for future developers.
Q: $TRANCHE will purely be minted or can be bought also?
A: $TRANCHE is the governance token of the protocol. Token holders can create and vote for proposals. The project will be governed by communities completely using Quadratic Voting. And it will be issued via a fair launch way.
Q: And how big is the team now?
A: Right now it is an international team of 8 people. Peter and I are responsible for the marketing and ops of Skyrim Finance. Currently, we have 4 engineers working on smart contract development. One person on front-end design and the other responsible for back-end development.
We work in a decentralized manner, but I believe every single one of them is well versed in this space.
But We are still hiring. So guys, please pay attention to our channels. We will post a recruitment announcement soon.
Community Q&A
Q: Do you have a Global ambassador Program or any Reward System? Do I get any benefit from holding this token for the long term?
A: Thank you for this question. Of course, we do. As the project continues, we will roll out our ambassador program and early support program too.
I would suggest you stay with us in the following ways.
- Telegram: https://t.me/skyrimfinance
- Twitter: https://twitter.com/SkyrimFinance
- Medium: https://skyrimfinance.medium.com/
- Website: https://skyrim.finance
Q: Skyrim Finance aims to build the Robo-Advisor of DeFi. Can you give us a simple but detailed explanation of what is Robo-Advisor of Defi? And how can this helps your project and DeFi itself?
A: Sure. So We aim to build the Robo-Advisor of the DeFi ecosystem.
Robo-advisers are a class of financial advisers that provide financial advice or investment management online with moderate to minimal human intervention, meaning we want minimum human interference in this process. It is mainly algorithm, code, and program-driven.
FYI, Robo-advisors manage $460 billion, and the Robo-advisory industry is expected to grow to $1.2 trillion by 2024.
Q: Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is @SkyrimFinance’s smart contract? and did you ever audit it via any third party?
A: It is very hard and unconvincing for me to tell you how secure we are. But rest assured, we will go through rigorous security audits before we launch anything and allow our users to use our product.
Q: Can you explain some of the major utilities of the SKYRIM token? Do the token holders have the right to participate in the governance of the Skyrim project? On what kind of decisions can they vote on about the project?
A: Of course. So we are going to adopt a dual token structure. There are a total of 100 million $SKYRIM utility tokens, which will be used for liquidity mining and rewards, incentives for innovative products, governance, and voting.
And most importantly, it can serve as grants for future developers.
Q: Community is an important asset to any project. How are you going to educate us that the project you are offering is long-term? and do you have the funds and a strong team to be able to develop this project in the future?
A: We created it just to have everything ready to go. You can say we only officially started the project a week ago.
So since we just started the project, the priority right now is to familiarize as many people as possible with our project.
After all, familiarity breeds credence, which means doing as many AMAs as possible, attending as many events as possible, keeping in active communication with our team to develop our first product, etc.
Q: One of the Skyrim features that Interest me the most is its Interoperability through NFTs, can you tell us how exactly this works?
A: Sure.
NFT currently mainly operates on the Ethereum network. And EVM is sophisticated enough to allow us to run this network seamlessly.
Skyrim Finance represents deposits and bonds using ERC-721 standard NFT (non-fungible tokens). This means that users can transfer their assets between accounts, and also wrap tokens to add to the feature set.
About Skyrim Finance
Skyrim Finance is the First Multichain Decentralized Structured Finance Marketplace. Skyrim Finance aims to build the Robo-Advisor of the DeFi ecosystem. The objective of Skyrim Finance is to help investors of different profiles have risk-adjusted returns through fixed-rate and leveraged-yield DeFi products.
Contact Us
Telegram: https://t.me/skyrimfinance
Twitter: https://twitter.com/SkyrimFinance
Email: contact@skyrim.finance
Medium: https://medium.com/@skyrimfinance
Website: https://skyrim.finance
