Host :Hello mate, shall we start this AMA?
Charles : Hello, I’m Charles from Shield protocol. yep, please.
Host : okay let’s start for the first segment
SEGMENT 1
Q1. Please Introduce yourself to our community
Charles : I’m continuous entrepreneur in Fintech industry and ex-founder of listed company. I’ve worked in crypto for 3 years and have experiences of running centralized exchange. Now building the Shield protocol.
Host : thank you for the introduction😁 and for Shield Protocol
Q2. Describe in detail to us about Shieldex
Charles : Shield is building a one-of-a-kind decentralized derivative exchange that trading risk-free perpetual contracts. Risk-free Perpetual Contract is an innovative financial product with infinite upside potential and limited downside risk, which has no delivery and only on Shield.
Risk-free perpetual contract is Shield’s answer to the existing limitations within the decentralized derivative ecosystem. It uses a combination of 0 position loss, a dual liquidity pool model, high leverages, a decentralized brokerage system, and external liquidators to counteract the existing limitations. This brand new perpetual product goes above and beyond the mentioned limitations in the current derivative products, in our capability to get to be a more competitive space and bring DeFi the next generation of global decentralized derivative infrastructure.
Host : Q3. What makes Shieldex is better than among competitor ? Specially i mention 3 point from your website
- 0 position loss
- No expiration date
- Dual Liquidity Pools
Charles : Yes, what Shield offer here is quite unique. Let me explain the details here.
-0 Position Loss
Risk-free Perpetual Contract is an innovative financial product with infinite upside potential and limited downside risk, which has no delivery. The unique point here is that the perpetual contract without potential position loss, thus avoiding huge downside risk or even liquidation that caused by the price delay.The protocol allows users to open short or long positions with prepaid funding fee in a fully trustless way. The maximum loss is capped by the prepaid funding fee, while the gain has infinite potential.
-No expiration date
Yep, so risk-free perpetual contract is quite simiar to perpetual on centralized exchanges like Binance, Bitmax. Users can exercise anytime so it’ll be very flexible.
-Dual Liquidity Pools
Unlimited Liquidity by well hedged private pool and retail-focused public pool to ensure strong liquidity for traders.
Host : Q4. Can you tell us about dual liquidity pools and who can provide liquidity on your platform
Charles : Definitely. Shield implements peer-to-pool and we’re the first one to implement the new design- dual liquidity pools mechanism that contains public pool and private pool.
Public pool aim for individual traders, which is quite similar to liquidity mining. Private pool aim for sophisticated traders and institutional market makers. Once professional market makers take over the major counterparty risk in the private pool, the common users who participate in the public pool will take lower risk. With the incentives of liquidity mining, both private pool and public pool will be supplied significantly more liquidity.
Host : Q5. Where i can buy SLD right now ?
Charles : Well, you can buy SLD in any secondary market like Uniswap once our mainnet launch, or you can also participate early supporter program to get early airdrop. So follow our social media to get recent activities. We will launch the IDO in 2 weeks. So stay tuned!
Host : is there any minimum buy or maximum?
We will share the IDO details soon and you can follow our twitter for that. https://twitter.com/shield_dao
Host : Please follow guys ! 😍
Q6. Do you have special information for community and tell us what your currenct development that you working right now ?
Charles : Currently, we’re ready both for Ethereum and BSC version and we also partner with 1 more leading audit company to ensure security. Once it’s done, we plan to launch BSC in 1-2 month for lower gas cost and more efficient throughout to offer premium users experience. Last but not least, Shield is community-oriented and will be governed by DAO. We plan to launch the IDO and hope the SLD token can be fully distributed to target DeFi users to build the Shield ecosystem in long-term. If you’re interested, please join our community and follow our social media for latest announcement.
Host : okay mate, we have done with the first segment
SEGMENT 2
Host : we already choose 5 winners on twitter😁
Q1 . Audits its very important right now for project , do you have finish audit your smartcontract and platform ?
Charles : Yep, security is what we care most. We have finished the audit by SlowMist Technology and we also partner with one more leading audit company for both Ethereum and BSC version. You can refer to the audits report on our twitter and GitHub.
Host : Q2. What idea behind your brand name called “SHIELD” can share to us ?
Charles : First of all, we’re Marvel fans. lol
We believe that shield is a refined version of application build on technological innovation to protect traders from risky trades. It fits well with the original design of the product, therefore we named it: risk-free perpetual.
Host : Q3. Do you have any event to new member ?
Charles : Yep, we have launched several early supporter program and bounty campaign. So do follow our social media. Today we also have SLD airdrops worth $200 during the AMA. You can follow this link here: https://forms.gle/VFB8dNnFWCvguBRu5
Host : we also have 100$ SLD for this AMA reward 😍
you still can prepare your questions for the last segment
Q4. Do you have plan to made Shield on another blockchain like BSC cause ethereum gas fee very high ?
Charles :Yep, I guessed I already answered this question. The BSC version is ready and under audits. Can’t wait to launch the mainnet with our users.
Host : Q5. I highlight about Swap & Burn that very interested please share with us about this
Charles :sure thing !
We do take these plans staking/swap&burn into consideration and finally confirm swap&burn plan. Because we think swap&burn would be fairer to Shield users in the long run.
The mechanism is that 10% of the total SLD would always be equal to 100% of the repurchase pool value, thus generating a repurchase price. When the secondary market price of SLDs is higher than this price, then the value of the repo pool will keep growing because no one comes to redeem it. Until the secondary market price drops, someone will go to the secondary market to buy SLDs and redeem them in the agreement to earn the difference, thus ensuring that the secondary market price does not fall indefinitely. And because the transaction fees of the swap&burn pool will grow with the business without a growth cap. Besides, the total number of SLDs in circulation will continue to deflate because of being destroyed and mining rewards halved, thus in the long run, the coin price of SLDs is supposed to continue to go up. 🙂
SEGMENT 3
Host : okay mate i will open the group chat about 1 minute
Please prepare your questions guys😊. please choose and answer 5 question mate !
Charles :Hey hey, thanks for the questions. Too many, wait a sec
Member 1 : Nowadays, everyone is interested in their own benefits from many different projects but they rarely care about the benefits of the project for the user. So what benefits does the project bring to users? What are the plans for reaching new investors and new users in other countries?
Charles :
Thank you, good question.
So for the users of Shield, the biggest benefit is that pay little to win big without position loss. The protocol allows users to open short or long positions with prepaid funding fee in a fully trustless way. The maximum loss is capped by the prepaid funding fee, while the gain has infinite potential. with an expected payoff equals the number of contracts x price change – funding fee – transaction fee. After the clearing process, profit can be claimed back to the wallet. You can use a high leverage, safe and lower risk perpetual on chain now. 🙂
Member 2 : DEX is an important sector in DeFi and the daily transaction volume of Uniswap briefly exceeded Coinbase for several days in a roll this month. Do you agree with the arguement that DEX is replacing CEX?
Charles : Interetsing, I personally think DEX is eating CEX. Due to the non-custodial, permissionless, auditable feature. We did a in-depth analysis and I can share some. How Shield actually offer the solution is very unique and can satisfy the retail traders’ demand. That’s the reason why we are quite confident about the risk-free product and upcoming competition.
Member 3 : without proper marketing and capital infusion, project dies, how do you convince us you have adequate marketing power and capital to push this project to the top project ?
Charles :
yep, we do have clear go-to-market straregy.
-Product-oriented
Risk-free perpetual not only significantly decreases retail traders’ without potential downside risk on-chain, but also satisfies the non-custodial, permissionless and auditable features of decentralized derivatives on this DeFi boom. This unique selling point will attract end users in crypto and stay addictive to Shield once they try.
-Decentralized brokerage system and global KOL strategy
Shield is the first dex to implement a brokerage system in a fully trustless environment. Brokers can earn up to 40%-100% commission rate on Shield, which is way higher than CEX and are allowed to claim and check the rewards anytime. And Shield will always capture new users with global KOL strategy and connections.We have partnered with global KOLs and trader communities now, including Russia, Turkey, Thailand, Indonesia, Japan, etc.
-Sales team
Shield team has rich experiences on running centralized crypto exchanges and Shield has been working on a sales team to keep educating the new users under mature user acquisition strategy.
Member 4 : How do you plan to spread awareness about your project in different countries where English is not spoken well? Do you have local communities for them to let them better understand about your project?
Charles :Yes, Shield is community itself I would say and will be governed by Dao in the near future. Community will participate the govanance and hand with us to reshape the future derivatives protocol.
For now anyone interested in Shield value please join us on social media. Shield team all on Telegram and we’re looking forward to new idea/proposal from the community side. Btw, we also establish Shield eco fund to expand the global community. Anyone who want to run a Shield community can receive SLD token incentives and support from the Shield official.
Recently we receive many supports from global communities including Russia, Turkey, Thailand, Indonesia, Vietnam, Japan, Taiwan, etc. We do think it’s the community that help build Shield ecosystem in the long run and can’t wait to share more partner in DeFi space soon. So stay tuned!
Member 5 : I am a professional vulnerability finder on the web, do you think Your system is secure enough from hackers? Does your project have a program that rewards individual vulnerability detection of the system?
Charles : Hey, we cannot say it’s 100% safe since it’s open source on-chain, which is the foundermental feature of blockchain and defi. But we will try our best to deal with security, for example we have 2 leading audits company and launch the bug bounty program for good rewards. I would say let’s build the Shield with community.
Host : okay mate we have done with the last segment and also this AMA. do you have more information for our community?
Charles :Thank you everyone!
Social Media:
Website: www.shieldex.io
Whitepaper: https://docsend.com/view/pd7y4yayibd4nrpu
Twitter: https://twitter.com/shield_dao
Medium: https://medium.com/@shielddaoofficial
Telegram: https://t.me/shield_dao
Discord: https://discord.gg/NAbGTHYgMg
