Recap AMA CryptoVN x Pandora Protocol
Time: 12:00 PM UTC – March 11, 2021
The ama session will have 3 parts:
?1. Introduction
?2. Answer question on Twitter
?3. Free asking
PART 1:
Host:
- Can you introduce yourself and Pandora Protocol a little bit?
Ankit Raj – Product Lead at Pandora Protocol
Hi everyone, Ankit here. I am the Product lead at Pandora Finance.
In the past, I have worked vastly on DeFi, Oracle, Distributed system project with various organisation like Ocean Protocol, Red Hat.
We started working on Pandora last year. There are more than 300 trillion dollars of illiquid assets. Our goal is to provide the bridge for them to get on-chain and make it liquid via DeFi In short, we at Pandora, our goal is to bring liquidity in the illiquid market through Open Finance.
Technically, Pandora is a middle-layer solution for the NFT market, which sits on top of the base layer. And many different dapps can be built by using this middle layer solution.
Host:
Thank you for great introduction.
Next question.
- Can you tell the community some of the Pandora Protocol achievements?
Ankit Raj – Product Lead at Pandora Protocol
Sure! In terms of achievement, we are proud to say that we have built our initial product in a short period of time with limited team members which is very crucial for any projects.
Host:
- Can you share Pandora Protocol roadmap?
Ankit Raj – Product Lead at Pandora Protocol
Our Roadmap is built on a quarter to quarter basis. For the first quarter, we are poised to release our initial product. Later in the next few quarters, we will develop extended features around the protocol, Dapp, pandora parachain and adoption.
PART 2:
- @trn24459603
Investors seem to only care about the price of the token instead of the real value of the project, how does PANDORA attract newcomers and keep members long-term with the project? What is the real value of $Pandora?
Ankit Raj – Product Lead at Pandora Protocol
Pandora token aims to fuel the Pandora protocol. Token use-cases are around utility, governance and security of the protocol ecosystem. Definitely, there will be some incentive for early users. However, we aim for long term value creation, so we have a fixed reward system on a long-term basis.
- @DailygameDylan
There are a lot of NFT projects out there, do you consider them a competitor or a partner? What sets Pandora apart from other projects and competitors in the NFT space?
Ankit Raj – Product Lead at Pandora Protocol
Not at all! NFT ecosystem is huge, and the different project is trying to solve the different problems differently. Many projects are just getting started. But, we are laser focus on bringing liquidity in the illiquid market in a decentralised way. It can be real-world assets NFT, digital assets NFT or social token NFT. And all these NFT will be bridged to the existing DeFi ecosystem via PiNFT, which is very new for both NFT and DeFi space.
- @koocoin111
Southeast Asia is a very vibrant market and many project developed here so with your project what do you think about Southeast Asia and do you have any plan to develop here?
Ankit Raj – Product Lead at Pandora Protocol
Yeah, I completely agree with you; SEA has a humongous opportunity in terms of users and product development. We have some ongoing collaboration going on with the few firms across SEA. We are also hiring for developers and other roles. I would love to get onboard the few folks from the SEA region.
- @jiwwan15
Vast majority of Crypto projects are built just for the sole purpose of amassing wealth for themselves. So, I want to know the value you aim to add to “NFTs Finance” industry that will bring greater abundance to the industry?
Ankit Raj – Product Lead at Pandora Protocol
As I discussed before, NFT is the huge market. NFT is categorised into three different segments real-world asset NFT, Digital Asset NFT and Social token NFT. For each of the NFT segment, the biggest issue here is liquidity. If you are an artist and you created 10 different art and put it for sale. Rarely it will happen that all of your assets will be sold out. There will be many art which will not be sold, and we can call them as an illiquid asset. Now, with the help of Pandora, you can bring liquidity to those NFT. These liquidity are coming from the DeFI ecosystem via PiNFT. PiNFT is our innovation!!
- @Thegoat693
Many blockchain projects are on paper only and no product or product has no practical meaning. Please let us know what is Pandora’s currently practical product in use? What are your plans for the product to be better in the future?
Ankit Raj – Product Lead at Pandora Protocol
We at Pandora completely feel without product, any idea has zero value. Because of this, we have built the product, and we are in the process of testing with our early users and getting audited. Very soon we are going the release the product on main-net for all users.
PART 3:
- @nusrat1224
Is Your project a Global project ?
Is any of the local communities restricted from contributing to the project ?
Ankit Raj – Product Lead at Pandora Protocol
Yes, our project is completely global and decentralised in terms of users and product architecture.
- @Loversss10
There is fierce competition in the DeFi+NFT space. Obviously, you can find other projects that are similar to yours. What do you bring to the table that your competitors don’t? In other words, what is your Unique Selling Point?
Ankit Raj – Product Lead at Pandora Protocol
Good question. Few projects are working in this space, but they are doing things differently. Pandora is completely decentralised, whose main aim is to bring liquidity in NFT space, which is a big selling point. And we are facilating this via our innovation PiNFT.
- @zzcuna
What’s the focus of the Pandora now? Build and develop products, win customers and users or partnerships? Are there any plans to burn or block unsold $ Pandora tokens? control flexibility, cost and security??
Ankit Raj – Product Lead at Pandora Protocol
Our prime focus is more to build the product and get users. We are already in the process of code auditing.
- @Sangdz
Can you list 1-3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Ankit Raj – Product Lead at Pandora Protocol
- brining liquidity in NFT space
- Cross-chain lend/borrow
- PiNFT
- @Sangdz
What companies are you partnered with or seeking to partner with in future ?
Ankit Raj – Product Lead at Pandora Protocol
Many big partnerships going on. Will make public after code audit process which is very soon 🙂
? Pandora Protocol AMA winners:
Twitter segment:
- @trn24459603
- @DailygameDylan
- @koocoin111
- @jiwwan15
- @Thegoat693
Live asking segment:
- @nusrat1224
- @Loversss10
- @zzcuna
- @Sangdz
- @Sangdz
