Recap AMA Obliquity Network x Vietnam Coin Market Community

12 min readSep 29, 2020

Mr Hubert: Hello everyone,

Only 15 minutes left and the AMA event of Obliquity Network will be started

The representative for Vietnam Coin Market (VCM) is Admin Owner @taitan296 who will run AMA and Obliquity Network project’s representative is

Translator: @nguyetvcm

Vietnam Coin Market Group (VCM) will be locked to make the event convenient.

After Segment 2 of the Vietnam Coin Market group will be opened a chat so that the community can ask the project.

How’s everything going?

Again, it’s been my greatest pleasure to announce today’s special AMA session

“Obliquity Network”

Today’s AMA session is composed of 4 parts:

1 — Say hello, introduce the project

2 — AMA moderator asks the project 5 questions that will be selected first.

3 — Ask the community (unmute the channel and let the community ask questions freely on telegram. Then the guests will choose about 10 good questions to answer)

4 — Quiz — Give 5 quizzes to the community to answer

You must complete the task at this Tweet. All violations will result in cancellation of AMA results:

https://bit.ly/3mRbqFT

Craving for the question rain ahead after I unmute the group.

Anyway, let’s get the curtain roll-up and welcome @Danny_O_O.

Mr Danny O: Hello everyone!

Mr Hubert: Thank for having us today.

Mr Hubert: It’s a pleasure to all of you who participated in the AMA today.

Mrs Nguyet: Welcome to VCM. ❤️

Mr Danny O: So let’s begin.

Mr Hubert: Could you briefly introduce about yourselves as well as your project?

Mr Danny O: My name is Danny and I’m the CEO of the Obliquity project. Obliquity is a team of developers with a fairly solid track record and experience in the blockchain industry going far back in 2016. We’ve been involved in quite a few projects, such as Matic, Ontology, Cosmos and IOST, and some of our devs team are working in several projects simultaneously right now. Being a developer in the blockchain area causes connections with many other professionals, not only developers. We met each other through all this collaborations and after several years decided to start up our own project as one team.

Our project is a community governed DeFi platform with cross-chain interoperability and opportunities to stake and farm assets issued on different chains. The idea came to us in 2019 when we saw growing interest in DeFi products based on Ethereum. We thought that if it becomes mainstream there would be some problems, such as high fees or scalability issues. And if DeFi would spread to other chains we will see interoperability issues and inconvenience in managing funds in different chains. And this time has come, with all mentioned issues. And Obliquity’s mission is to solve all this problems.

Mr Hubert: How wonderful, sir. The VCM audience is also eager to study the Obliquity project.

Mr Hubert: Welcome!

Looking forward to have our audiences to know more about the project and the views.

Let’s get to the first question we’d like to know from you.

What makes the Obliquity Network project stand out more than the projects in the same direction at the moment?

Mr Danny O: The main difference between Obliquity and other projects is that most of other new projects with cross-chain functions in fact just plan to move a part of the Ethereum ecosystem to another network where they are located and our goal is to make networks and their assets interoperable, so that the end network accrues the best features from each network and makes it convenient for users to use whatever tools they want. We see our ecosystem as an organism dispersed over many networks and as a single whole at the same time. As one of our team members said, you can imagine Obliquity as a Network of Bridges.

Although many projects declare themselves as community-driven, in fact they are not. They issue their tokens, but most of these tokens, typically over 80%, are in the hands of a few people, who ultimately manage the ecosystem. But Obliquity is totally community-driven project, we did not conduct private sales and did not give the majority stake in the hands of funds, because we want to keep the ideas of DAO and DeFi itself. Public rounds only. In this way, our ecosystem will truly be community driven and work for the good of the community. After the initial launch and from the moment our system will work stably, all decisions will be made by the community.

Mr Hubert: Thanks for this impressive information. We will go over the next question.

Who are some business partner/clients for Obliquity Network?

Mr Danny O: Our main partners are all mature networks that are interested in cross-chain interoperability. Initially, we act on the side of the Cosmos and Ethereum networks, next in line we have Polkadot. It is likely that next year Obliquity can also be used with ONT, IOST, TRX and others.

And our main clients are, of course, the users of all these networks. Because Obliquity is convenient, fast and cost effective. Also, we are negotiating with several organizations from the traditional financial sector that are interested in our service.

Mr Hubert: Thanks for your sharing. We continue to spend some time with VCM audiences and Mrs Nguyet again. :))

Mr Hubert: Ready to come to the next question?

Mr Danny O: Sure

Mr Hubert: What are some products or solutions that Obliquity network has brought?

Mr Danny O: The main solution is the cross-chain interoperability, which means users will be able to manage their assets borderless with all chains connected to Obliquity. Obliquity initially built on both Ethereum and Cosmos networks and our next step will be adding Polkadot ecosystem. Finally, you will be able to leverage the assets of all mature networks with Obliquity. Our ecosystem will provide high-performance transactions and extreme user experience without having to give up their favorite assets into other tokens.

Our second product is Obliquity DAO with features to stake, farm, lend and borrow assets. One of the biggest things about our DAO protocol structure is that it allows governance token holders to not only farm OBL by locking YFI, COMP, BAL, CRV etc. but also use the underlying tokens to farm on their own protocols simultaneously. The protocol will support most popular farming options and the list of options can be updated by community voting on proposals. OBL is a native Obliquity token and our token holders are able to stake it with 180% APY. And this stake will still be available to use as collateral to mint USDob stable coin which can be used for borderless cross-chain value transfers for all networks connected with Obliquity.

Finally, our platform will provide users with the ability to use different platforms through one interface. We call it ‘all chains in one interface’. Based on our cross-chain technology, our wallet allows users to switch from liquidity providing on Uniswap to staking on Polkadot and so on with one click. Portfolio Dashboard tab allows users to manage their assets from all connected chains, even if this assets are staked or used for farming. And the more chains we connect, the more options you will have.

Mr Hubert: Feeling quite excited about this project, sir. I think everyone will love it and support it as well.

Mr Danny O: Thank you 🙏.

Mr Hubert: We to the last question of the Q-A segment:

What does Obliquity Network plan to do to attract more users in the upcoming time?

Our project itself will attract users for a number of reasons. First of all, this is ease of use thanks to our interface. Secondly, it is profit. It’s no secret that most of the active members of the crypto community are here just for the sake of profit. Well, our ecosystem provides many options for making a profit. They were listed above.

But besides all this, we of course carry out promotions, we have planned at least 3 listings on CEX in October, we are in active correspondence with other projects about mutually beneficial cooperation, and after the initial launch of Obliquity DAO we will hold our first hackathon.

Mr Hubert: How wonderful, sir. VCM will make a small contribution to the project support. Nice to do this. 😊.

Mr Danny O: Thank you, guys 🙏.

Mr Hubert: The last question is already done. Thank you @Danny_O_O for bringing the above useful information.

Next, the Vietnam Coin Market team (VCM) will open a chat for the community to ask questions to the project. We will have 3 min to ask. The Obliquity Network project will then choose 10 questions to answer.

Let’go!

Now!

Let’s give some mins for @Danny_O_O to choose 10 questions to answer.

@Danny_O_O, you may proceed now.

Question 1. What is the role of the community in the governance of the Obliquity ecosystem in order to be able to call it community driven? Which members of the community can participate in the decision making?

Obliquity DAO is managed by the Obliquity community — OBL token holders. Community is making rules and shaping the entire Obliquity ecosystem, while getting rewards and additional bonuses for staking, farming, creation and voting on proposals.

Our governance model is based on governance protocol which uses financial incentives for participants. Anyone can create a proposal and anyone can vote by paying fees in OBL. Proposals can be created to make suggestions or change almost anything in Obliquity. Once it gets accepted, it will be implemented as stated. If a proposal gets accepted the creator gains 20% of voters fees, while another 30% will be shared between winning voters.

Question 2. • Obliquity offers an APY for staking up to 180%, is this amount sustainable over time? will this amount vary or remain the same? Is this profit for early stakers?

• What is the need to create an Obliquity stablecoin? How will you maintain your stability with the dollar? How does the USDob algorithm work?

OBL token is available for staking with 180% APY while still staying able to use it as collateral to mint USDob. But it is not necessary to use exactly OBL, native coins of the connected networks are also suitable.

180APY: This option will be available for as long as our staking rewards pool is enough. Taking into account the fact that it will be replenished with fees received, the APY 180% should remain for at least several years. Interest rate can be changed by voting.

USDob: Obliquity will have its collateral pools in the connected chains, so users will be able to collateralize their OBL as well as corresponding chains’ native tokens to mint USDob with an initial collateralization rate of 300%. If the collateralization rate drops to 150%, the Obliquity DAO system will clear the collateralized debt position. And here is the answer, if the collateralization rate is lower than 150%, a clearing penalty of 9% will be imposed. Then accumulated funds can be used to maintain the peg.

Question 3. Security is always one of the biggest concerns as an investors. What kind of forms of security do you offer for i.e. the Obliquity Network platform and how do you ensure the customers’ assets safety?

As our developers team members are from different networks, they know all the details of their blockchains plus we have several rounds of stress test and know we are waiting for results of our final tests with Beosin company. In addition, since there are also developers among the community and they have shown interest, we are thinking about launching a bug bounty program and our first hackathon.

Question 4. Typically, investors buy tokens that are likely to increase in price in the future. I saw that, total supply of the token is huge.

So, do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?

I don’t think that $ 3.5 million is a huge capitalization. 😁 But yes, our system provides for the burning of tokens. As you know, our voting system assumes fees from the creator of the proposal and from the voters. According to our preliminary estimates, the amount of fee in the number of tokens will decrease over time with increasing the price of the token itself due to the gradual burning during governance processes.

Question 5. You guys are doing Ama’s in all group & almost answering same types of questions again n again? How do You feel about it?

Haha, this is a little annoying. I try to treat it like a rock musician who sings the same songs😅

Question 6. Which area are you focusing on at the moment? (DeFi, Stake,Dapps..) and what is your goals in this year ?

Our first priority is to launch Obliquity Core so that everyone can see that our idea works, but in order to support our early adopters, we are also in a hurry to launch Obliquity DAO with staking functionality.

Question 7. How will your project generate profits / income to sustain your project and what is the revenue model?

How will it benefit your investors and your project?

Obliquity provides opportunities to swap assets, provide liquidity and lending features — the system accumulates commissions from operations. Some of these commissions are received by community members, and some are sent to Obliquity. In this way, Obliquity is backed by commissions while the investor benefits from staking, liquidity providing and lending products.

Question 8. DeFi is one of the hottest topics in the blockchain field. Can you share your opinion about DeFi with us?

Do you think DeFi will destroy the existing financial system?

What’s your project Approach towards DeFi?

No, I don’t think the traditional financial system will be destroyed by DeFi. Most likely, it will be destroyed due to its nature and turn into something new. It is possible that with the participation of DeFi.

second part: as mentioned before, defi space is heavily focused on Ethereum, while many useful features are still inaccessible because they are on different networks. And our products all work with cross-chain functionality, what will bring together different markets, allowing efficient transfers and leveraging of value.

Question 9. Many new projects made a good impression at first but were suddenly abandoned. My question is, how will you manage the project and token to gain a place in the market and become a best token in the blockchain world?

Work hard, take care of the community, drive innovation 😊

Question 10. Where does the project name come from? What does it mean for you and why did you choose that name for your project?

Haha, new one 😁

In general, our name comes from astronomy. It’s the angle between an object’s rotational axis and its orbital axis. In the context of blockchain, under Obliquity we meant the possibility of executing processes a little differently than it was originally intended for each of the networks.

Question 11. Could you please elaborate more about your tokenomics? What’s the total supply and what kind of plans do you have regarding the token unlocks in the future?

You can check this info in our tokenomics article on Medium

https://medium.com/obliquity-network/recap-of-obliquity-tokenomics-58473ee9e58b

or in white paper.

Question 12. How much feedback have you received so far?

What changes have you made based on that feedback?

The community is very active, we are grateful for that. And it is actively making suggestions. For example, yesterday we made edits to the public sale, which will take place tomorrow.

Mr Hubert: Thank you @Danny_O_O for replying to the community.

Mr Hubert: We will go to Segment 4, the Obliquity Network project will ask the question. All correct answers will be eligible to win. I will spin after AMA with these cases. Choose the luckiest one of these to receive a reward / each question.

Each person can only answer 1 time / 1 question

Please @Danny_O_O to ask Quiz questions.

Quiz 1. What networks will Obliquity support initially?

1. Polkadot and Ethereum

2. Ethereum and Cosmos

3. Ontology and IOST

4. Ethereum and ONT

5. Ethereum and Tron

Quiz 2. What APY will users be able to receive when they stake their OBL tokens?

1. 60%

2. 120%

3. 180%

4. 300%

5. 480%

Quiz 3. What is the listing date on Uniswap?

1. October 2

2. October 5

3. October 12

4. October 27

5. November 12

Quiz 4. What is the initial OBL price on Uniswap listing?

$0.30 USD

$0.35 USD

$0.425 USD

$0.80 USD

$3.30 USD

Quiz 5. What is Obliquity Wallet / Portfolio Dashboard?

1. all-encompassing app

2. cold storage

3. hot wallet

4. cross-chain bridge

5. asset monitoring interface

So the AMA Obliquity Network at Vietnam Coin Market (VCM) is also coming to an end. Hopefully in this direct exchange, the community has a basic understanding of the Obliquity Network project. I am the moderator today. Congratulations to the Obliquity Network.

Thanks @Danny_O_O for joining AMA with the VCM community today. Wish you much health and success.

Again, don’t forget to join the Obliquity Network community for further assistance. Thanks everyone.

Telegram: https://t.me/obliquity_network

Twitter: https://twitter.com/ObliquityNtwrk

Website: https://obliquity.network/

VIETNAM COIN MARKET COMMUNITY INFORMATION:

Website: http://vcmcommunity.online

Medium: https://medium.com/@chocoin_VN

Youtube: https://www.youtube.com/c/vietnamcoinmarket

Twitter: http://twitter.com/chocoin_VN

Facebook: http://facebook.com/chocoinVN

Vietnam Coin Market Community: http://t.me/chocoin_VN