Hotbit AMA🎉:HOTBIT Polkadot 8th -Bandot in 2021, Exploring Polkadot Unsecured Lending
AMA content review
💗Guest:Bandot CMO — Cora & Bandot Global Chief Advisor — Kinsa
Sara: Let’s welcome Cora, Bandot CMO @BandotCora & Kinsa, Bandot Global Chief Advisor to introduce 【Bandot in 2021, Exploring Polkadot Unsecured Lending】 to us in AMA.
Hello, Cora, Kinsa, can you please introduce yourself to our audience?
Cora Chen: Hi everyone. I’m Cora. Bandot’s CMO. Very nice to meet you here!
Kinsa Durst: Hi! It’s great to be here, this is Kinsa. I am leading marketing at Reef, and advising Bandot on their overseas community
Sara: Thanks for the introduction. Bandot is a really popular project now, please firstly give us a brief introduction to the Bandot project and its unique features.
Cora Chen: Sure. Bandot is Polkadot’s stablecoin unsecured lending system, building a new paradigm of liquidity aggregation platform. Bandot is an innovatively designed cross-chain DeFi aggregation platform to provide users with maximum asset liquidity and providing unprecedented convenience in lending and stablecoin exchanging. We have three core modules on our aggregation platform
vAMM (Virtual Automated Market Maker)
The first liquidity protocol in the industry to reduce impermanent losses
2, Cross-chain unsecured lending system. To easily realize credit lending without collateral
3, Smart Asset Swap Center
Provides the decentralized stable coin bUSD to connect the value between heterogeneous chains. Bandot is an innovative cross-chain DeFi platform to maximize the liquidity of user’s assets. It provides unprecedented convenience in liquidity mining, unsecured lending, and stable coin exchange.
Sara: Thanks for the introduction. For users, why do they need cross-chain unsecured lending? What kind of different experiences can the new DeFi platform of Bandot bring to users?
Cora Chen: First of all, let me introduce cross-chain unsecured lending to you. Unsecured lending is a new DeFi function that uses a credit-guarantee system to allow users to borrow without mortgaging actual assets.
Bandot realizes the cross-chain credit lending for the first time on Polkadot, so that the credit accumulated on other parallel chains of Polkadot can also be seamlessly used on Bandot as a mortgage certificate. In this way, users can obtain higher returns through multiple asset combinations. Currently Bandot has reached a cooperation on credit cross-chain with many Polkadot projects.
Why do we do unsecured lending system?
We have to say liquidity is important in the DeFi ecosystem. Therefore, our unsecured lending system can release the liquidity of some assets, which can improve investors’ asset utilization rate. It helps to solve asset liquidity management problem on DeFi.
Sara: Thanks. Kinsa is the new Bandot global chief advisor. Why do you choose Bandot? Why are you interested in joining Bandot team?
Kinsa Durst: Yeah! Happy to answer that. I’ve been an active user of DeFi for a while, and Stablecoins are one of the most important parts of the cryptocurrency ecosystem — as we can see by the impact that MakerDAO had on Ethereum. I think Bandot has potential to be the standard stablecoins for the Polkadot ecosystem. It can be the core component of Polkadot DeFi ecosystem, and I believe Bandot has the potential to become one of the most important projects on Polkadot.
Sara: You also helped Reef with its marketing. Bandot partners with Reef too. How do you compare the 2 projects, and what can this cooperation bring to us?
Kinsa Durst: Yeah! We made an announcements a bit ago and got a lot of community support!
At Reef we’re working on two main parts to bring DeFi mainstream on Polkadot: one is the Reef Client, and the other is Reef Chain. With Bandot’s direct integration to Reef Chain, Reef users will gain quick, low-fee options to access Bandot’s assets and its DeFi products through the Reef Client.
Sara: The popularity of Bandot in the past few months is obvious to all. Can you sort out the current project progress for us?
Cora Chen: Currently we are cooperating with Duckdao. We really like their design of duck. We have the concept of Bandot’s design already, and will announce our cartoon figure later. Also, we will hold some activities around the collaboration with Duckdao. Please follow our Twitter and join the telegram. Twitter account: @hellobandot telegram: https://t.me/hellobandot
There are lots rewards and welfare with our activities. Please focus on our activities. Meanwhile, we will do AMAs and activities with KOLs. Well, we wanna more people know Bandot and what Bandot is doing. So, please join our telegram follow our activities.
Sara: I heard that Polkadot will start the card slot auction at the end of the first quarter. Will Bandot prepare for this next month?
Cora Chen: Yes. So kusama’s slot auction should be the end of this month. And dot’s slot auction probably will be in April, or in May and June.
For the exactly date, let’s focus on official information. Based on the market performance of Dot and Ksm, the buying of these coins is very strong. Maybe it is because the project parities are storing Dot and Ksm for the auctions. Currently, Bandot is preparing the slot auction. We will mainly focus on Polkadot’s slot auction. We have designed some token incentives for users who support us. Follow our Twitter and official account, we will announce the details of our plan later.
Sara: Last question for Kinsa, as the new global chief advisor, how will you help Bandot to achieve more influence and what are your next plans globally?
Kinsa Durst: I think Bandot is just getting started, we’re excited to see the initial community engagement already! I think regarding building global presence and an engaged community, there are few ways to go about it. For example, partnerships with global projects, offline and online events, creating engaging content, etc.
All the things mentioned above AND more are needed to build an engaged community, and I’m very excited to work closely with Bandot with the process! We do have the DuckDAO NFT hunt coming up, but expect more things to come soon.
Sara: Now, let’s proceed to the next session public Q&A,
@Dobrolybov1: 1. Do you plan to enter other major exchanges and how soon?
2. Are there any plans to expand the ecosystem?
3. How secure is your project from outside interference?
Cora Chen: Yes. We are planning go listing the major exchanges. And we will do announcement of listing this month
@jgoldner: Can you give us the 3 key success features that made the Bandot project grow to date?
Cora Chen: as what I mentioned, we have three core modules. vAMM, unsecured lending system and smart asset swap center.
@Mumu433: There are 3 core issues prevalent in crypto and blockchain: Security, Interoperability, and Scalability. So how does Your Project plan to overcome these issues?
Cora Chen: Yes. So we are having cooperation with Tidal finance. To make an insurance pool to secure the asset on our platform. Also, the cooperation with Litentry will help us to use the DID to find the reliable users for our unsecured lending system
@Kasundewaka: Can you tell more about partnerships and sponsorships? What is your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships?
Cora Chen: Currently, We are cooperating with tidal finance, reef finance and Darwinian, litentry……we love to collaborate with more international projects to promote the development of Plkadot DeFi ecosystem
@Abde_2580: What are the main characteristics of your project that makes it unique and beneficial for people? What is the actual use case of $Bandot?
Cora Chen: We mainly focus on solve the liquidity problem in DeFi ecosystem. That’s why we have these three core modules
@schowalterchris: partners in every project play a huge role as backup and support at every start of a project and company, so my question is what role do your partners play in the ecosystem of Bandot and what benefits do they have for being a partner?
Cora Chen: So, Tidal finance is focus on insurance. Litentry is focus on DID…..the collaboration with our partners helps Bandot to develop our cross-chain DeFi aggregation platform
@mistylegros: What is your strongest advantage that you think will make your team leading the market?
Cora Chen: We firstly provide the concept of vAMM, which is the first liquidity protocol in the industry to reduce impermanent losses
@radrika10: what companies are you partnered with or seeking to partner with in future?
Cora Chen: We are seeking the cooperation with more international projects to promote the development of Polkadot DeFi ecosystem
@S_H_BALA: Can I stake Your Token? What are your Staking criteria’s?
Cora Chen: Currently, our first Staking event has closed. We will do announcement if we are planning to hold another event. So please follow out twitter: @hellobandot and join our telegram https://t.me/hellobandot
Sara: Thanks for joining us today. If you want to know more about Bandot or have more questions about Bandot, please check
Bandot’s website and community links can be found here.