Recap AMA CryptoVN x Vera Network
Time: 13:00 PM UTC – May 2, 2021
The ama session will have 3 parts:
?1. Introduction/Questions from CryptoVN Team
?2. Answer question from Twitter
?3. Live AMA
PART 1:
Host:
Q1: Can you introduce yourself and the project a little bit?
Michael – CTO of Vera Network
I’m Michael, a Software developer for 17 years across multiple industries.
I worked with traditional finance for over 10 years before I switch to DeFi.
I’m trusted by the 4th biggest custodian bank in the world with $14T in assets to lead their blockchain development.
Vera is a universal infrastructure for NFT DeFi applications that empowers millions of businesses and billions of people. Vera will enable lending, leasing, exchange of NFT assets across multiple blockchains.
Host:
Great.
Next question.
Q2: Can you tell the community some of the Vera Network achievements?
Michael – CTO of Vera Network
We have released our PoC code and we have assembled our great team to help on building this project. We also built many high-profile partnerships.
Host:
Q3: Can you share Vera Network roadmap?
Michael – CTO of Vera Network
MVP development is already underway.
In Q2 we will release the web app demo. Q3, continue the protocol development and release more documentation for 3rd party and developers to build on top of our protocol. Q1 2022 we will start integration with other DeFi protocols.
PART 2:
- @anhdungsenpai
I am a long-term holder.I would like to start the new year with a crypto that really motivates me both in its mechanism and in the market.Will the Vera be able to guarantee these two characteristics in 2021?
Michael – CTO of Vera Network
We are doing our best on all fronts: community, business, technology, partnerships. There is nothing guaranteed. This is a volatile market. Building real value takes a lot more than 1 year. you should have long-term thinking, looking way beyond 2021 before you start thinking about Vera.
- @Shindz3
How is Vera development going? Can you describe in detail current development efforts, market expansion plans, expected applications, and when will they become commercially available?
Michael – CTO of Vera Network
Our smart contract PoC are done and released open source. We are working on DApp PoC, which we will release in the next few weeks. We will then start working on cross chain and building our own parachain.
- @TrnQuan44284557
The ERC20 ecosystem has many NFT project like My Neighbor Alice, Enjin Coin(ENJ) . Do you consider them to be competitors or partners? What sets $Vera apart from other projects and competitors in the NFT space?
Michael – CTO of Vera Network
we are building on Polkadot as the initial base chain, because of many advantages. Ethereum ecosystem is a partner and not a competitor, we are planning on moving assets from and to the Ethereum network.
- @tieubinh2003
Vera was the first project to provide an NFT loan. Can you tell us the strategy you’ll adopt to help engage NFT developers on the strategy?
Michael – CTO of Vera Network
Devs can start reading our docs, we are in the process of designing many programs with generous rewards. stay tuned
- @lnghchu4
What is your platform and how did you upload ideas to create your project? How many partners are in the Vera network? And what benefits do these partners bring to Vera Network and vice versa?
Michael – CTO of Vera Network
Vera is a universal NFT DeFi network. after long study and research we did not find any serious project doing proper NFT DeFi for real digital and physical assets.
We are building a vast strong network of partnerships that will bring business, liquidity, and users to our network. The deals are actively being negotiated, and we will release news once deals with partners are signed.
PART 3:
- @jiuwa1
Could you please introduce briefly your team and vera network?
Michael – CTO of Vera Network
we are a team of software developers and industry business leaders, working in the space of finance, digital assets and tokenization. We have done multiple high profile projects before. Among other things, I was the lead blockchain architect for Kodak and built their blockchain strategy for managing unique images on DLT. Code I have produced already moves multi billions dollar worth of assets. Denis, our CEO, is a serial successful entrepreneur who among others was a founding member in the company and took it from zero to $100M valuation in 6 months.
- George (no username)
Would you build your own wallet?
Michael – CTO of Vera Network
We are building partnerships with many other networks and will have support from a large number of wallets. We in the process in research the need to build our own wallet.
- @Realhund777
All project’s coins have their main Utilities & real-life use! So, Can you tell us what are the main role of your coin in your ecosystem? Explain its Utilities & Real-Life usecases? and Why should i invest in your coin for long term?
Michael – CTO of Vera Network
Holder of the Vera token will make decisions on the direction of the products and governance of the network.
The token will also be used to collect fees for all the transactions like lending borrowing exchange and liquidity pools and the owners will be rewarded with a rev share of the total fee collected from the network
- @jonnyfif
What was the motivation behind the idea to start/create the Vera Protocol? And what gap did you deem necessary to fill with the creation of the Vera Protocol project?
Michael – CTO of Vera Network
We have done extensive research in the space, and we did not find anyone doing extensive DeFi for NFT, that is why we started Vera. We believe that all current real-world fungible assets will one day be fully decentralized with NFT representation.
- @Realhund777
For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough fund for it’s developement Can you tell us that how your project generate the profit?
Michael – CTO of Vera Network
There are fees associated with every DeFi function like Lending, Borrowing, and exchange, with large volume, these fees add up. we will have multiple revenue streams with our B2B and B2C models.
? Vera Network AMA winners:
Twitter segment:
- @anhdungsenpai
- @Shindz3
- @TrnQuan44284557
- @tieubinh2003
- @lnghchu4
Live asking segment:
- @jiuwa1
- George (no username)
- @Realhund777
- @jonnyfif
- @Realhund777
