The Polkadot ecological decentralized financial service provider Clover Finance will launch CoinList public offering on April 21. Let’s first understand the project characteristics, operation mechanism and token economy.
Original title: “Dialogue with Clover Finance Norelle: Understanding the Platform, Product Design and CoinList Public Offering Rules｜CryptoJ AMA Review”
Interviewee: Norelle Ng, co-founder of Clover Finance Finished: CryptoJ
With Vision “Clover” based Boca build decentralized financial service providers Clover Finance fresh green image into the public’s, Colver Finance recently ushered in a series of rapid development, such as the beginning of April successfully connected to Boca The news of the parachain test network Rococo V1 and the upcoming Coinlist public offering on April 21 have attracted the attention of the market.
In order to have a deeper understanding of Clover Finance’s project characteristics, operation mechanism and other issues, on April 19, 2021, CryptoJ specially invited Norelle Ng , the co-founder of Clover Finance, to be a guest in this issue of AMA “The Eve of the Coinlist Public Offering-Into Polkadot Cross-Chain Compatibility Infrastructure Clover Finance”, together with everyone, have a more in-depth understanding of Colver Finance and Coinlist’s specific public offering rules.
The following is an arrangement of the AMA text content, the content has been deleted.
Analysis of Clover Finance
At the beginning of the AMA, Norelle Ng gave a brief introduction to the Clover Finance project, outlining the main features of the project and its birth background .
Norelle Ng pointed out that, as many industry insiders pointed out, Ethernet Square 2.0 PoW mechanism to migrate from PoS mechanism is still not the final solution to the current high costs and congestion Gas. In the process of searching for the perfect solution, Clover discovered Polkadot. The Clover development team chose the underlying framework based on the Polkadot network to solve many challenges encountered in the Ethereum DeFi ecosystem.
In short, Clover Finance is the Polkadot ecological smart contract platform. It is committed to providing an easy-to-use blockchain infrastructure and creating a one-stop compatible EVM framework for Substrate-based applications to reduce the barriers and costs for developers.
The story behind the team
Clover Finance’s rapid advancement in the industry must be inseparable from the efforts of the team members. Norelle Ng and us also shared some interesting stories behind the team.
Norelle Ng expressed, Clover Finance by himself and a few friends, co-sponsored, himself a graduate of cognitive computing and computer science at the University of Toronto, previously served as co-founder of Clover Finance, was Bithumb Global partners and Amber Head of Customer Relations at the Group.
The other two co-founders also have a background in computer science and both have extensive experience in the blockchain industry. Burak Keçeli is the co-founder & technical leader of Clover. He is currently a three-terminal (mobile terminal, desktop terminal, web3 terminal) development, product design, animation design, and deployment of the all-round top developer. He once served as the payment product GatePay Technical leader and founder of Staqq, a cross-border payment product.
Viven Kirby is the co-founder & project leader of Clover. He has served as the former head of Microsoft ERP software development technology, Microsoft partner solutions architect, and core development and software consultant for many blockchain projects.
Three highlights of the Clover platform
Clover Finance is positioned as a Polkadot ecological smart contract platform. Next, Norelle Ng shared with us the unique competitive advantages and positioning of the platform.
Norelle Ng pointed out that Clover Finance, as a Polkadot ecological smart contract platform, has the following three highlights:
compatibility
Clover has Ethereum Virtual Machine (EVM) compatibility , which means that existing Solidity smart contracts running on Ethereum can deploy its DApp to Clover through MetaMask, Truffle, Remix and other familiar tools.
Interoperability
In order to upgrade interoperability, Clover created a technical architecture of “SPV chain built-in simulation”, which allows seamless cross-chain communication between decentralized networks and realizes trustless two-way hooking.
Unique incentive mechanism
Clover’s unique incentive mechanism creates passive income for contract developers . Clover resets the parameters of the G as distribution model to send Gas fees directly to network maintainers and DApp builders to incentivize developers to grow together. Strengthen the DeFi ecosystem of Clover and Polkadot.
The goal of cross-chain DeFi interaction
Norelle Ng gave us a detailed answer on how Clover Finance realizes the link between Ethereum and other blockchains and achieves the goal of allowing users to enjoy real cross-chain DeFi interaction.
Norelle Ng replied that, compared to other EVM-compatible Polkadot parachain candidates, one of the main advantages Clover Finance has is the two-way pegging technology . We have created a trustless two-way peg bridge between Ethereum and Clover Finance, and are committed to building a trustless bridge for non-Turing-complete blockchains (such as Bitcoin), which will make diversity and Many assets can easily enter the Clover ecosystem without relying on a third-party custodian.
Clover Finance is also a digital financial gateway with user-friendly features . Through its end-user mechanism that does not require Gas, users will be able to use almost any token for transactions except the original token CLV.
In addition, regarding whether Clover Finance will consider compatibility with other public chains such as BSC and Heco , Norelle Ng said that Clover Finance will be compatible with not only BSC and Heco, but also blockchains such as Ethereum, Polkadot , Kusama, Avalanche, Fantom, etc.
Two major products: Clover extended wallet, CloverScan
Clover Finance plans to launch a series of products including Clover extended wallet and CloverScan . Norelle Ng gave a brief introduction to these two products respectively.
First of all, the Clover extended wallet is significantly different from other multi-chain wallets, with the following three characteristics :
- Clover Wallet can connect to multiple public chains at the same time, and you can view assets on multiple chains without switching the multi-chain network;
- DeFi users can connect to blockchains such as Ethereum, Polkadot, Kusama, Binance Smart Chain, Avalanche, Fantom, etc., and conduct seamless transactions with the Clover wallet extension interface;
- Clover’s token CLV is cross-chain compatible . Because of the unique account binding mechanism, the EVM-based Clover address and Polkadot-based Clover address are bound together, so that users can use the same account, both with Ethereum Dapp It can interact with Polkadot DApp, allowing simultaneous use on both chains.
The browser Cloverscan allows users to view the interactions on each chain such as Ethereum, BSC, etc. through the address in a one-stop manner, which becomes a convenient entry for users to query on the chain; at the same time, Cloverscan integrates the data on the chain of each application and automatically completes the summary.
Significance of access to Polkadot Parachain
Clover Finance has become one of the few network test access Boca parallel chains of Boca Rococo V1 project, Norelle Ng and significance of which we share.
Norelle Ng said that Clover has always been in the first echelon in terms of development, and also connected to the Rococo parachain at the first time.
It is obvious that today’s presentation Boca ecological situation enough to go around, get slot Boca, it means to master the core flow Boca ecology.
In the Polkadot ecology, traffic and assets have become the core competitiveness of whether a project can rise, Clover will focus on providing users with high-quality products and services , and ultimately achieve the purpose of attracting traffic and assets. Therefore, Clover will definitely join the card slot auction and is determined to win the card slot auction.
Become a connector of the Polkadot ecology
Polkadot ecology has made great progress from 0 to 1. Clover Finance also chose to join the Polkadot track. Compared with other public chains, Norelle Ng shared why it chose Polkadot and its positioning in the Polkadot ecology.
Norelle Ng said that there is no doubt that Polkadot’s mechanism and design itself are very suitable for **Clover to play its key functions. Secondly, Polkadot, as a cross-chain theme star public chain, is currently the most eye-catching besides ETH and BSC. focus. Undoubtedly, compared to the Red Sea fight between ETH and BSC, the Polkadot circuit is full of more opportunities and possibilities**.
Clover hopes to become the largest connector of the Polkadot ecology, connecting the entire DeFi field and the Polkadot ecology, and can help current DeFi developers and project parties enjoy the dividends of the entire Polkadot ecology.
Token value capture
Regarding value capture, Norelle Ng shared Clover Finance’s token economic model, how to motivate users to hold tokens for a long time, and the topic of token application scenarios.
Norelle Ng stated that Clover will issue a native token CLV for decentralized governance and incentives for ecological contributors.
CLV tokens are proof of rights and interests to participate in governance voting on the Clover chain, and are also a necessary pledge asset for network nodes. Users can get incentives by contributing to the ecological construction. In addition, they also have the opportunity to obtain token incentives in the process of using the products on the platform. In addition, CLV token holders will also share the benefits of the entire Clover ecological network.
Coinlist Public Offering Rules
Speaking of the token part, Clover Finance will open the public offering through CoinList in the early morning of April 21st, Beijing time. Norelle Ng shared with us the details of the public offering and whether it will consider other token sale methods and other topics.
Norelle Ng stated that Clover Finance will start the public sale of tokens on CoinList from April 21. There will be a total of 150 million CLV tokens sold in three rounds. Among them, the first round will be community sales, which will start from April, Beijing time. Sale of 75 million tokens will start at 1:00 am on the 21st, with a single price of USD 0.2 and a lock-up period of 12 months; the second round will start selling 40 million tokens at 1:00 on April 22, a single token The price is US$0.29 and the lock-up period is 6 months; the third round will start selling 35 million tokens at 4 o’clock on April 22, with a single price of US$0.35, locked for 40 days.
Coinlist will begin selling Clover (CLV) tokens to eligible CoinList users on April 21.
Later, some other platforms of the first-line major exchanges will also conduct token lock-up mining , IDO, IEO and other activities.
Development roadmap
After completing the public offering, Norelle Ng shared the recent roadmap of the project for Clover Finance’s near-term planning and some new product planning.
In April, Clover’s mainnent v1 will be launched, and the layout and preparation of the card slot auction will begin.
Of course, Clover’s product planning has never stopped , and will update and launch Clover Scan, Clover cross-chain bridge, a better version of Clover plug-in, and Clover’s APP wallet.
Clover will first help with the ecological infrastructure , and later there will be developer incentive programs, community grants and other activities to attract more developers to the Clover platform.
