♠️ Segment 1 — Introduction Segment ♠️
Mrs.Grey | The Grey Crypto Hub:
Q1. Could you please introduce yourself to the community?
Cathy:
I have been working in the roles of blockchain smart-contract development and project operations for 4years.
We came across Parasset because we participated in the ecosystem of decentralized oracle-NEST at the early stage. We admire and agree with their belief in decentralization, and NEST is the only decentralized oracle globally.
When they were discussing Parasset, we agreed with their ideas, so that’s why I joined the tech community later.
Mrs.Grey | The Grey Crypto Hub:
Cool!! looking forward to an energetic and informative session with you
Time to explore Parasset..!!
Q2. We are so curious about Parasset! please tell us about Parasset in detail.
Mr. Grey | The Grey CryptoHub:
I am excited to explore parasset!😁
Cathy:
Parasset is an innovative over-collateralized lending / synthetic protocol.
It combines features from MakerDAO and Liquity. It can collect revenue through stability fees like in MakerDAO, while having an Insurance Pool which is similar to the Stability Pool in the Liquity.
Users can mint parallel assets, which is a type of token that has a 1:1 ratio of intrinsic value to the underlying assets. For a concrete example, Bob can deposit 1 ETH to mint 2,000 pUSD. The value of pUSD is pegged to USDT, and the max amount of pUSD can be generated depends on the value of ETH and the collateral ratio.
At the same time, Alice can deposit her USDT into the Insurance Pool where she can earn up to 4 types of rewards.
Mr. Grey | The Grey CryptoHub:
Perfect strategy!💥
Mrs.Grey | The Grey Crypto Hub:
Some interesting stuff I’d say🧐
Let’s see what you’ve got for marketing
Expecting a detailed one!
;)
Q3. What are the Long Term Marketing plans of Parasset?
Cathy:
The goal of Parasset is to build a brand new on-chain platform providing all kinds of asset-related services to users.
We will support more collateral assets, and we have plans to do cross-chain and expand the use case scenarios.
Mr. Grey | The Grey CryptoHub:
Fantastic plans🔥🔥
♠️ Segment 2 — Twitter Segment ♠️
Mrs.Grey | The Grey Crypto Hub:
• First Question from Twitter
The presence of digital collectibles as NFT has increased significantly,.What do you think and how do you rate the potential growth that NFT will bring into your platform? Do you have plans to bring NFT in Parasset?
From : @KatzRen
Cathy:
Yes we do, and we will have some announcements related to NFT very soon.
So stay tuned~
Mr. Grey | The Grey CryptoHub:
Stay tuned grey family!
Mrs.Grey | The Grey Crypto Hub:
Waiting…
Mr. Grey | The Grey CryptoHub:
Don’t forget to follow up parasset!
Mrs.Grey | The Grey Crypto Hub:
Alright let’s head to the next question
Mr. Grey | The Grey CryptoHub:
• Second Question from Twitter
Can you tell us more about how does the Parasset Lending Protocol? There were many lending protocols are out in the market so can you tell us some of the competitive features and advantages that will make lender to be interested in services you offer?
From : @johnclark_0
Cathy:
Well designed mechanism
1 Insurance Fund Mechanism (Measures for burned accounts)
2 Fast Minting (Control the risk of price unstable when the p-asset is short in supply)
3 Dynamic Stability Fee mechanism based on C-ratio (The source of the revenue in Insurance Fund)
4Dynamic liquidation line based on volatility (Measures for liquidations)
5 Unified debt positions management (For users convenience)
Mrs.Grey | The Grey Crypto Hub:
Fantastic 🍺🍺
Please Drop the next question Mr.Grey
Mr. Grey | The Grey CryptoHub:
Third question from Twitter
Can you share details of Tokenomics & Utilities of $ASET token? Where can I inquire and what is the current price? What do you think, am I too late to buy?
From @themiracleboy0
Cathy:
Total supply 100million
15% Private Round
10% Team
5% Public Sale with IDO
70% Liquidity Providers
Mrs.Grey | The Grey Crypto Hub:
Cool noted!
Cathy:
We will have an IDO in early Sepetmber😁
The ASET holders will have voting rights in the feature
Mrs.Grey | The Grey Crypto Hub:
Any specific dates out!??
Cathy:
Likely be around Sep 10th, and we will post the details in the upcoming weeks
Mrs.Grey | The Grey Crypto Hub:
Stay tuned #greyteam
Mr. Grey | The Grey CryptoHub:
We will stay updated!
Mrs.Grey | The Grey Crypto Hub:
Definitely
Next question coming up...
Mr. Grey | The Grey CryptoHub:
Alright!
Fourth question from Twitter
Where in English is not spoken well so How Do you planning to promote your project in different countries? Do you have local communities for them to better understand your project?
From @Aman_8487
Cathy:
Parasset is a global project, we will try to make it accessible for the users from different regions. We already hosted an AMA in a Korean-based community, and we will continue to do more AMA and other events for non- English speakers in the future.
Mrs.Grey | The Grey Crypto Hub:
Korean community Interesting
Which one?
Mr. Grey | The Grey CryptoHub:
Perfect 💖!
Cathy:
FireAnt😁
Mr. Grey | The Grey CryptoHub:
Seems interesting!
Mrs.Grey | The Grey Crypto Hub:
It’s going all so smooth
We reached the last question of the Twitter segment already
Mr. Grey | The Grey CryptoHub:
Alright next question coming up
Fifth question from Twitter
As you know, all DEXs have serious problems with gas charges such as Uniswap. As Ethereum GAS fees are currently on the rise for DeFi bubbles, what is Parasset planning to address this issue?
From @mandookkk
Cathy:
Parasset is a lending/synthetic asset protocol, but just like DEX, gas fees matter
We will do cross-chain to BSC and other chains to ease this problem.
Also, L2 solution is possible in V3 or V4
Mrs.Grey | The Grey Crypto Hub:
Great!!
♠️ Segment 3 — Live Segment ♠️
1)Liquidity Providers are essential for platforms. So, how will you make it easier for Liquidity providers to use your platform and how will you encourage them to raise more funds?
Cathy:
Users can simply deposit USDT and or ETH into the Insurance Fund Pool to earn rewards, and the share of one user’s assets to the pool will decide the final rewards.
2)Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relationships?
Cathy:
We have many investors such as Huobi Ventures, FBG Capital, OKEx Blockdream Ventures, 21DAO, AU21, Gravity Resource, LD Capital, Infinity Labs, HOT LABS, Kernel Ventures, LINKVC, Kyros Ventures, All For Ventures, 100X Capital, YBB. Foundation, 7 O’Clock Capital, etc.
3)Are you working to AUDIT YOUR PROJECT to make it more secure and reliable?❤️❤️❤️
Cathy:
Parasset is already been audited.
We chose Certik as Parasset’s auditor. So far, CertiK has provided quality services to more than 500 corporate users and has protected more than 3million USD of digital assets and software systems from loss.
4)Can you share some Details about Recent Major Achievements done by your project? Also, what are the Future Roadmap & Targets of your project???
Cathy:
We have updated to v2 recently
Technology
Parasset 2.0 uses the industry’s leading safe and scalable architecture, which can update and iterate the system under a decentralized mechanism to protect the safety of users’ funds. In the future, Parasset will pass the right of modifying system parameters to the voting system to realize the vision of complete decentralization.
Product
Parasset 2.0 upgrades the Insurance Pool. In the previous version, the revenue of Insurance Pool liquidity providers mainly comes from
1. The stability fees generated from the debt positions;
2. The exchange fee;
3. The liquidation residuals will directly inflow to the insurance pool.
In contrast, Parasset 2.0 has a new feature Insurance Pool mining. When users deposit USDT/ETH into the insurance pool, they will get LP tokens. Then by collateralizing the LP tokens they will receive the platform token ASET.
UI
The new user interface can better help users to understand the liquidation risks quantitatively.
The current collateral ratio is a value used to show the health condition of the user’s debt. The ratio is the sum of the user’s debt + stability fee to the value of their collaterals.
The closer this value is to the liquidation collateral ratio, the higher the possibility of liquidation and the lower the security status of funds.
Parasset 2.0 also optimizes the page information display, page loading speed, etc.
5)How strong is your project and how confident you are that your project will survive for the long term even in a bear market?
Cathy:
Parasset is backed by many top-tier investors, and it is audited by Certik. One of the visions of Parasset is to become the Uniswap in the lending category. So we work hard and aim for the long-term goal.
♠️ Segment Concluded ♠️
Mrs.Grey | The Grey Crypto Hub:
Again it was extremely smooth 🍺
Before we conclude the session
Any last message you want to convey to the grey community!??
Cathy:
This community is amazing~ I am so glad to be here today
Mrs.Grey | The Grey Crypto Hub:
Thank you so much everyone for joining us today!!
Mr. Grey | The Grey CryptoHub:
And Special thanks to @Cathy_para for such an informative session.
