AMA with Robin, Founder of Zero one at Asia Blockchain Community “Blockchain technology and cryptocurrencies are here to stay”

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Blockcast.cc: Once again, welcome to Asia Blockchain Community. Asia Blockchain Community (ABC) is a community that is based in Asia and run by volunteers. We know the market very well and is backed by a panel of blockchain & crypto experts and influencers.

We have over 700 members live this afternoon. I hope everyone is still bullish. Bitcoin is still at $58,900 right now. Let us welcome our guest today, Robin, the Zero One 🙂

Welcome back Robin, please introduce yourself Eg your background, experience

Robin: Hello Jenny, thanks so much for inviting me and hosting today’s AMA. My name is Robin, and I’m the Founder of ZeroOne, the company that developed Flux Protocol.

I graduated from Peking University in Software Engineering and did my FMBA in Shanghai. I previously worked at Draper Dragon Fund, a crypto VC, and established the technical community of Conflux Network. In addition, I’ve been an entrepreneur for quite a while now and ZeroOne is the latest company I’ve founded.

 

Blockcast.cc: What is Defi? How individual investors like us can benefit from it?

Robin: DeFi is short for decentralized finance, it includes many things from simple Bitcoin transactions to complicated operations such as depositing a token, then minting a new synthetic token and providing the newly minted synthetic token into a liquidity pool to mine new tokens.

It depends on what you want. If you want to mine a token without having the risk of price volatility, you might opt. to stake a stablecoin and mine a platform token like FLUX or Compound. Almost everything you can think of financially is or will be available to you as a DeFi user.

 

Blockcast.cc: So it’s like a financial tool in crypto?

Robin: Sure. the term is very broad and includes decentralized financial tools as well.

One of the most important things to note is the “De” in DeFi, which stands for decentralization and is also where the magic sauce lies. No one but yourself can tell you what to do with your assets, and where/how to use your assets is limited to the creativeness of a platforms creator.

Blockcast.cc: What are your views on the current crypto and DeFi market?

Robin: To put it simply, we are currently in a bull market, everything seems amazing with green candles, and high APYs, IMO, we’re in a bubble.

I’m more interested in which projects will survive the upcoming bear-phase 😛

 

Blockcast.cc: What is Flux and how did it start? What is the relationship between Conflux and Flux?

Robin: Flux Protocol is a borderless lending protocol, where low transaction fees and cross-chain interoperability are a reality! Empowered by Conflux Network, Flux provides a lending mechanism to adjust the interest rates of crypto assets in an automatic and decentralized fashion, incentivizing liquidity in the cryptocurrency market!

The idea and determination were actually born one year ago, when the Black Swan incident happened and everything, from stock markets to crypto or natural resources, just crashed.

Too many users on existing competitors lost their funds because the network was too congested, and we were determined to develop a new lending platform with more generalized asset templates and better collateralization models that could withstand future market meltdowns.

The initial proposal has gained further support from the technical community of Conflux Network, and one year later, we’ve launch Flux Protocol with liquidity mining on Conflux Network, and will be launching on the Binance Smart Chain next week!

Flux Protocol’s community team is very international, we have people from China, Germany, US and Japan, and we are always looking to diversify our community!

 

Blockcast.cc: Could you share the community link? Or any links that can help us to get to know more on Flux.

Robin: Sure, of course. Please join us on any of the below channels to stay up to date with everything that’s happening.

Website: https://flux.01.finance

Documentation: https://fluxdoc.01.finance

Medium: https://01-flux.medium.com/

Discord: https://discord.com/invite/ZKgxNhdWrD

Telegram: https://t.me/flux01

Twitter: https://twitter.com/zero1_flux

 

Blockcast.cc: How Flux does it stand out from similar products?

Robin: For one, we don’t have investors, nor are we planning on any ICO. The distribution of our upcoming governance token $Flux will be very community-centric! 75% of all tokens will be distributed to users by providing liquidity!

Though many of you view Conflux as a layer-2 to Ethereum with no gas fees, I personally, think choosing Conflux Network is also an aspect that differentiates us from other projects! Why Conflux? since the main net launch, Conflux Network has processed more than 4 million transactions, and the total transaction fees are only 11 USD!

In the upcoming weeks, we will also be deployed on other networks (BSC, HECO, OKexChain), we’ll let you know once that happens so you can be the first yield farmer there 🕺 On every newly deployed chain you’ll mine more FLUX in the first two weeks 😀

Oh, and we developed everything from scratch! We enjoy BUILDL!

 

Blockcast.cc: What are the assets available on Flux Protocol? And what is the process of getting new assets listed on Flux?

Robin: The current assets are FC, CFX, and the usual ones like cUSDT, cETH, cDAI, cUSDC. Check your options here: flux.01.finance . We do have partnerships with YFII (DFI.Money) and Bytom, and their tokens will also be available for lending and borrowing on Flux Protocol when the Liquidity mining program starts.

Once we are on BSC, some assets will change. We will add BNB and BUSD into the money markets.

While every chain’s assets will be somewhat different, we have chosen assets that are less risky and are less-likely to lead to liquidation of user’s assets, as borrowing does require collateral in crypto available on the platform.

In the near future, we will start working towards a DAO, where $Flux holders can govern the platform! In the age of decentralization, this is the proper path in which we believe in transparency and decentralization!

 

Blockcast.cc: What is the token economics of Flux Protocol?

Robin: In honour of Satoshi Nakamoto, the maximum supply is capped at 21 million $FLUX. All tokens will be released to the community through platform engagement and the Flux team over a period of 4 years.

75% of all $ FLUX will be released to the community, 10% to the Flux Protocol Team, and 15% to the Flux Community Fund (1% are reserved for early community volunteers, and 14% for the community development and the Flux Liquidation Reserve)

5 million $FLUX of the 75% released to the community are preserved in a bootstrap fund. Every time Flux launches on a new blockchain, 1 million FLUX will be released in the first two weeks of liquidity mining to encourage participation.

 

Blockcast.cc: How can we get $Flux?

Robin: The only way to get $FLUX will be by providing liquidity into the money markets of Flux. On Conflux network you will be able to supply or borrow an array of assets any mine FLUX. In the next couple of days, we will launch on BSC, where you can mine $FLUX the same way as on Conflux, and in addition, by staking selected tokens from other DeFi products on BSC.

In the upcoming weeks, we will have pools on AMMs, where you can exchange them or provide liquidity and use the LP tokens to mine more FLUX 😀

 

Blockcast.cc: DeFi hacks are not uncommon in the DeFi space, what have you done to secure the user’s asset?

Robin: Flux Protocol will be open-sourced and any dev can access it, pull it, fork it, but most importantly: to review it and DYOR (do-your-own-research)!

In addition, we are happy to announce that CertiK, one of the most reputable smart contract security audit companies in the world, has successfully finished the audits. You can find the audit report here: bit.ly/3vh7iTW

 

Blockcast.cc: Tell us what DeFi projects you invested in and what are the reasons behind your decisions?

Robin: I’ve invested my time into developing new DeFi products, that my contribution to the DeFi ecosystem, as an investor, I don’t have many suggestions, unfortunately.

But I encourage everyone to try out Flux on flux.01.finance!

 

Blockcast.cc: What are the main criteria you are looking for on a project? How you make up your investment decisions?

Robin: For me, one of the main criteria is that it has to be developed by real builders who want to innovate and bring blockchain technology to the next level.

I do recommend everyone to learn more about the projects, by reading the whitepaper, joining the community and, if possible, look at their code, and #DYOR (do your own research)

Of course, I do view projects more from a technical side, as that interest me, and drive us to create more blockchain products for everyone!

 

Blockcast.cc: Can you provide a quote or what you believe in for the readers? 

Robin: Ohh boy, that’s a tough one.

“Blockchain technology and cryptocurrencies are here to stay!”

 

Blockcast.cc: Now I’ll open the floor for 5 minutes for questions, we are also taking questions from Facebook. Robin will choose 5 to answer.

Robin: Wow, that’s a lot of questions!

 

Blockcast.cc: Yeah, people been asking me about Flux for days and that’s why I invited you here lol

@Kira_Yamato2004v2: In A DeFi, you mention that it involves things from simple transactions to complicated operations such as deposit tokens, mixing them to form new synthetic token and providing a liquidity pool to mine new tokens. Is it too much cost for the fees or just a minimal cost needed by investors or users?

Robin: If you’re restricted to DeFi on Ethereum, then yes, absolutely. There the transaction fees are not suitable for non-whales. But you should be looking for DeFi projects on new public blockchains, like Conflux or BSC. Conflux sponsors the transactions fees, so for you, using Flux on Conflux Network, you don’t pay anything in terms of transaction fees. On BSC you’d need some BNB to pay for the network fees, but it’s still bearable for non-whales.

(Facebook Live Questions) Do you think the DeFi market is heading in the right direction? – By 6666COIN

Robin: That’s a great question that only time can answer. I do think that when the bull run is over many of the current DeFi projects won’t withstand the upcoming bear market.  In addition, there are too many get rich quickly-degen projects, that don’t really bring additional value into the DeFi system.

Once the non-value-bringing projects are sorted out, we will be left with the projects that drive DeFi into the right direction 😀

(Facebook Live Questions) What is the unique selling point for Zero One? – By Muhd Dawin

Robin: At ZeroOne we build products that are here to stay. Flux is a multi-chain lending and borrowing protocol, a foundational pillar of every DeFi ecosystem. whoops is an encrypted mobile keyboard, where you can send and receive crypto and also have a Dapp Store in to. whoops is a tool for your privacy and a tool to literally bring crypto and DeFi into the hands of millions.

https://t.me/Bdul_33: What plans have you prepared so that Zero one or Flux protocol can compete and survive in the cryptocurrency world?

Robin: We are designing a DAO where all $FLUX token holders can participate in the governance of the platform. We have created Flux Protocol, but not just for ourselves, but for everyone! And that’s why we want people to participate in the development of the platform as well.

(Facebook Live Questions) The dominance of cex over dex is getting obvious. Do you think this is a healthy sign? Is this still consider decentralise? – By Davy Shen

Robin: I don’t think that is true. Using DEX for the first time is not easy for anybody accustomed to using a CEX. To get more people using DEXes cannot be done from one day to another, but takes time, joint efforts and education, just like Rome wasn’t built in one day.

Also, DEXes are not that user-friendly for now and come with high costs on Ethereum as you all know. Once people start using more DEXes on new blockchains, people will start realizing that using a DEX is actually easier than using a CEX.

 

Blockcast.cc: Thank you Robin! Thank you for all your sharing today!

Robin: Thank you Jenny for inviting me here today!

 

Blockcast.cc: We will definitely follow the progress on Zero one and Flux! This is Jenny Zheng, Cofounder of Blockcast.cc signing off. Follow us on Twitter too.