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Blockcast.cc: Welcome to #ABC Asia Blockchain Community. Asia Blockchain Community (ABC) is a community that is based in Asia and run by Asian. We know the market very well and is backed by a panel of blockchain & crypto experts and influencers. Our mission is to create value for projects & members & educate the general public about blockchain and crypto through the work in our community. We want to bring concepts to life and increase blockchain adoption.
Slogan: Long Crypto and Short the World
This channel is run by admins who are volunteers experts and ABC is a brand under www.blockcast.cc.
Today let us welcome @pauljankovic in the house. Paul Jankovic is Head of Marketing at PROXI. Hi Paul.
Paul: Hi ABC, great to see all of you.
Blockcast.cc: Thanks for coming by. Tell us more about yourself.
Paul: I hold a bachelor of Computer Science at the University of Manchester and my expertise in IT and Technology across several multiple industries. With leading backgrounds in diverse industries, including J.P. Morgan, HSBC and Accenture, I gravitated towards the blockchain-based Open Finance for years.
Blockcast.cc: How did you get into blockchain? What is your role in PROXI? What excites you most in PROX?
Paul: Blockchain, the technology behind cryptocurrencies is changing money, business, and the world, giving everyone the equal opportunity to get access to the new finance system such as DeFi. The involvement with PROXI, the DeFi 2.0 for Cross-Chain Derivative Issuance and Credit Lending, give me the chance to combine both my professional expertise and my personal passion perfectly.
Blockcast.cc: Tell us more about PROXI, what problems it solves? What is the difference between PROXI and Uniswap? What is your happiest and saddest moment while developing it?
Paul: Uniswap is a DEX based on bonding curve, PROXI is DeFi 2.0 for Cross Chain Derivative Issuance and Credit Lending. PROXI provides the smartest way to invest derivative assets and earn interests with credit-based high leverage tools through the decentralized secure protocol.
The mission of PROXI is to build a one-stop platform for cross-chain multi-asset collateral service, Credit-based lending, derivative issuance, trading and asset management in the DeFi area, providing users with revolutionary, decentralized, and risk-minimized financial products.PROXI will release the user’s reputation value，helping users maximize the user’s capital utilization rate while meeting risk control conditions.
As to our happiness and sadness, PROXI gives us the best opportunity to reshape the traditional financial world, however DeFi is still in its early stage, lacking sophisticated, valuable derivatives and Credit-based leverage tools to allow the investors to achieve the maximum amount of interests and yet pump up liquidity to the crypto world.
Blockcast.cc: Tell us about the tokenomics and how individual investors like our community members can participate in and benefit from it?
Paul: Within the ecosystem of PROXI, there are two tokens functioning for different features respectively. CREDIT will be the utility token and PROXI will be the governance token. CREDIT is the capped supply ERC-20 token and will be issued soon via a series of Token Sale through multiple channels. CREDIT acts as the medium of payment and gas fees or commissions in the process of on-chain transaction, credit lending, asset issuance, trading, and other similar services. Fees will be partially burned, and partially extracted to the Collateral Pool as the Stabilization Fund to hedge the market risk.
Besides, PROXI is going to adopt the liquidity mining incentive (so-called Yield Farming) to the multi-collateral and synthetic assets issuance operations. With Liquidity Mining Incentive plan, users could receive CREDIT token as rewards for adopting lending, borrowings, issuance and trading across the platform and thus the platform could go to market in an economic way and CREDIT token could have a native distribution throughout the ecosystem. For details, please stay tuned to official channels.
5% of PROXI’s native token CREDIT will be distributed to the community and the lovers through public channels including Community Tokensale, DEX Auction and Strategic Investment.
PROXI has completed the Community-round Tokensale of PROXI DeFi’s utility token $CREDIT. Lovers can participate in the DEX Auction on Mesa platform on August 19th at 12:00 UTC Time (20:00 PM HongKong Time).
Blockcast.cc: The blockchain and crypto market has been changing. What do you want to see in the near future for this industry?
Paul: DeFi has become the most promising growth area in the crypto industry. The amount of ETH locked in DeFi has been following a net-upward trend since mid-2019. In June 2020, Compound released its COMP governance token, releasing a complex yet highly lucrative mechanism known as Yield Farming. According to the data tracker website DeFi Pulse, the impact of the Yield Farming Frenzy on the Total Value Locked(USD) in DeFi has been tremendous, causing the TVL to reach an all-time high of $4.68B. However, DeFi is still in its early stage, lacking sophisticated, valuable derivatives and Credit-based leverage tools to allow the investors to achieve the maximum amount of interests and yet pump up liquidity to the crypto world.
Blockcast.cc: What do you think of Defi, will Dex Dapp like PROXI replace the traditional exchanges?
Paul: PROX is a DeFi 2.0 for Cross-Chain Derivative Issuance and Credit Lending including a DEX module. DEX like Uniswap will not replace the traditional exchanges but will take the long tail market of the crypto trading field, giving users a useful tool to enjoy fun in the DeFi world.
Anndy Lian: I have gotten many private messages before this session. Many of our community members think that DeFi is a total scam. And today $YAM got the limelight falling by more than 90%.
Can you enlighten us on this view? And how is PROXI doing what they can to avoid being labelled as such?
Paul: First, I don’t see DeFi as a scam. We believe that DeFi is a go-to solution to the lack of transparency, low efficiency and high costs that the traditional financial industry has and can’t solve.
Well, for us, we think and believe that current labelling will be taken off when we have the best DeFi products and service providers in the market are dedicated to bringing new values and real innovations to the industry, not just some hollow ideas. That’s actually what Proxi DeFi has been and is doing, that we optimize our product, and when the product is ready for mass adoption, we will do everything we can to make DeFi services accessible for all.
Anndy Lian: Lack of transparency and scam/ Ponzi-like is very different. Really hope an expert like yourself can enlighten us :>
Perhaps I will ask a bit deeper. In order to keep up with the high ROI, what revenue structure do you have at PROXI? Again, many mirror the current as Ponzi-like. Your explanation will be very good to clear up the DeFi myths.
Paul: The revenue structure at Proxi is reflected in our token economics: REDIT acts as the medium of payment and gas fees or commissions in the process of on-chain transaction, credit lending, asset issuance, trading, and other similar services. Fees will be partially burned, and partially extracted to the Collateral Pool as the Stabilization Fund to hedge the market risk.
Blockcast.cc: Share with us an inspiring quote for our readers.
Paul: The only way to make sense out of PROXI is to plunge into it, move with it, and join the dance.
About Asia Blockchain Community (#ABC):
Asia Blockchain Community (ABC) is a community that is based in Asia and run by Asian. We know the market very well and is backed by panel of blockchain & crypto experts and influencers. Our mission is to create value for projects & members & educate the general public about blockchain and crypto through the work in our community.
Blockcast.cc is a broadcasting news source for the blockchain community. Founded in South Korea and Singapore, Blockcast has a network of contributors in China, Hong Kong, South Korea, Singapore and Malaysia. We have helped global blockchain and cryptocurrency companies reach their marketing, public relations and advertising goals.