AMA Pre Listing Questions
Q1: Please define Parasset in one sentence and explain it easily.
A: Parasset is a lending/synthetic asset protocol using a fully decentralized oracle NEST.
Users can mint p-assets like PETH, PUSD, etc. using NEST/ETH as collaterals.
The NEST team is about 2 years old. Quote price is fully on-chain, NEST’s mission is to build an on-chain-based asset community.
NEST protocol: https://coinmarketcap.com/en/currencies/nest-protocol/
It is listed on Huobi Global and gate.io.
Q2: It is stated that Parasset allows miners to create parallel assets simply by holding collateral ones. If so, I wonder if the collateral assets applicable here are only NEST, ETH, and BTC.
A: Parasset will be open to all assets of other protocols and communities, and we are already working with other projects.
Q3: I know that Parasset is a decentralized lending platform. What is the role of PUSD and PETH on this platform?
A: By holding p-assets, miners no longer have to worry about price fluctuations of the underlying assets. PUSD and PETH can be used as new types of assets to meet the demand of miners while quoting prices.
Additionally, PUSD can be used as a regular stable coin to capture the value which is outside of the NEST ecosystem.
Q4: I think that investors and partners are important for success in the coin market. Please tell us about your investors and partners.
A: Parasset Protocol’s investors include 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 Announced seed round investments by O’Clock Capital, R8 Capital (in no particular order), and other well-known domestic and foreign investment institutions.
Phase 1 Parasset will focus on testing and improving the product's user experience, so we invited some DeFi experts to participate in the testing. The NEST ecosystem currently supports over 50 different trading pairs’ quote prices. The quote pricing process itself requires a lot of assets, so we don’t worry about users and TVL.
Q5: How does Parasset control system risks?
A: Parasset’s risk control system consists of 3 layers, which are the liquidator, the insurance pool, and the system. In addition to the common liquidator, the additional insurance pool plays a crucial role. The larger the insurance pool is to the size of the parallel assets, the lower the risk of “margin call liquidation”.
AMA Field Questions
Q1: Parasset is based on oracles. How important are oracles in the blockchain ecosystem?
A: Oracle plays a very important role as one of the infrastructures.
Q2: What makes Parasset different from other similar projects?
A: Parasset meets the demand for stable coin borrowing and serves as a synthetic asset to meet the real demand of miners within the NEST ecosystem. The demand does not overflow while increasing calls to oracle and keeping the demand value in the demand value system.
Parasset solves the problem of quotes and asset inventory, miners only need to hold the “collateral asset “ to generate parallel assets. By quoting through parallel assets, mining and holding coins are mutually unaffected.
Parasset
Telegram: https://t.me/parasset_chat
Twitter: https://twitter.com/Parasset2021
Medium: https://parasset.medium.com/
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