Hotbit AMA🎉：NAOS Finance AMA in English Telegram
AMA content review
💗Guest:Co-founder of NAOS Finance — Kevin Tseng; Product Head of NAOS Finance — Bob Chien, Ph.D.
Cyrus: Let’s welcome Kevin Tseng — Co-founder of NAOS Finance @tsengkevin & Bob Chien, Ph.D.— Product Head of NAOS Finance @mi_go_bao_bo to introduce 【NAOS Finance】 to us in AMA. Thanks for joining us today. Please start off by introducing yourselves to our community?
Kevin Tseng: Hi all, thanks for being here today, NAOS Finance is the leading protocol for real world assets on-chain. I started my career as an investment banker at Merrill Lynch, then spend most of my career as a tech entrepreneur and venture capital investors.
Bob Chien, Ph.D: Hi all, this is Bob, I’m helping NAOS on marketing. I’m an experienced founder in the e-commerce and technology space. My interest in NAOS lies in the value that NAOS will bring into the commerce world. As someone who was a founder of a supply chain company, I understands that bringing real world assets onto chain is the future.
Cyrus: Thanks for the introduction. Let’s start my questions. Can you briefly describe what is NAOS Finance?
Kevin Tseng: NAOS is building a bridge to bring traditional finance into DeFi by funding real world debt with crypto assets supplied by blockchain lenders. NAOS has originated more than $250 million in real world assets provided by fortune 500 companies, publicly traded institutions and global corporations.
NAOS’s off-chain asset base provides a concrete foundation for innovative dApps and fiat-based monetary rewards that can drive growth across the entire DeFi ecosystem. NAOS Finance is leading the effort to build a world in which traditional financial assets can be tokenized and traded on a blockchain.
Cyrus: What are the goals that you are aimed to achieve?
Bob Chien, Ph.D: Our team is creating a decentralized financial network, of course. What we want to achieve are
1. Enables the origination and funding of loans without traditional intermediaries
2. Instills full transparency in the previously opaque risk assessment and loan application process
3. Breaks the geographic boundaries for lenders and borrowers to transact in a borderless fashion
4. Transfers financial value (interest spreads, service fees) from financial institutions to lenders and borrowers
5. Offers the best interest rate on any comparable loan of the same risk profile and terms…
6. Transfers custodial ownership of accounts from financial institutions to individuals
7. Democratizes irrefutable and immutable loan performance data that was held closely by centralized institutions
8. Accelerates the growth of the overall DeFi ecosystem with real world applications.
I know it seemed a lot to do but we do have confidence to get it done. To accomplish these ambitious goals, we need more than participation from the DeFi community. We need you to be part of it
Cyrus: let’s move on to the next question. Could you share the recent progress and your future plan about Naos.Fiance with us, such as token sale, airdrop plan, staking and so on?
Jeffrey Lin: Hey all, really excited to be here today and can’t thank you all enough for having me. My name is Jeff and I’m here to help ferry any additional questions we may have. As of right now, our team is heads down, hyper focused on getting our product out the door. Hence, we haven’t officially announced any information as to when our public sale will take place. We do estimate that we will be offering something into the market sometime in Q2 or early Q3. Once we get something more concrete, we’ll be sure to announce it on our community page. We do have plans to offer staking.
In our current iteration, the aspects we are looking at include generating more yields and earning additional rewards as a result of staking. The challenging part in this planning is to create an attractive product that farmers and miners can take advantage of, but also do it in a way that is palatable for all the real world asset origination partners that we work with. As for airdrops (which I think everyone here is very very interested in) they will take place sometime in the near future, so keep your eyes, ears and wallets handy!
Cyrus: Quite detailed explanation. What is the anticipated launch date of NAOS Protocol and the mainnet?
Kevin Tseng: optimistically we’re preparing to launch in Q3 2021
Cyrus: Does NAOS own their own real world assets?
Bob Chien, Ph.D: NAOS works directly with fintech partners based all around the world.
These partners are fully licensed in their respective and help NAOS evaluate corporate assets based upon their risk profile, balance sheet health and loan requests.
This is very important. We understand some projects might look to “own” the assets, but they run the risk of running into regulatory red tape as things aren’t as cut and dry in the real world.
Therefore, we believe that working with “origination partners” who are not only licensed, but also insured, provides a safety net that other protocols can’t match. Ultimately this is our competitive differentiator.
Cyrus: Where do the assets come from?
Jeffrey Lin: Excellent question. Assets are provided by our asset origination partners situated all around the world. These assets comprise of corporate and institutional debt similar to accounts receivables and purchase orders but may also include supply chain and inventory financing. Essentially we work with a diverse range of assets. Not only do we act as our own asset originator, but our team is actively working with originators from all around the world to bring a portfolio approach to the project. We think this is just the start. As more and more traditional real world companies begin seeing the value that the blockchain can unlock, we think its only a matter of time before we start seeing more off-chain assets come on.
Cyrus: What happens to the holders of NAOS tokens when real world assets default?
Kevin Tseng: the safety of the fund provided by lenders is our top priority, we have a multiple layers of protection in place to ensure the funds safe. First of all, all assets are insured by off-chain insurance policies; secondly, our senior/junior tranches design serves to ensure the first loss guarantee; finally, we will be allocating a portion of the revenue to an insurance pool that shields lenders from black swan event. Lastly, the NAOS token is a governance token, its value is not directly correlated to the performance of real world assets. All the assets will be placed in an independently managed trust
Cyrus: Who are your competitors?
Bob Chien, Ph.D: We don’t have direct competitors now. We are not the first one to bring the RWA on chain but we do want more friend on RWA world to bring assets on chain. The biggest difference between us and other projects is that. The SIZE does matter. For example, our current set of assets are over $250 million and we have a couple more millions of dollars that we can easily bring into our ecosystem. We see other competitors looking at assets that are maybe $50,000 or $150,000. It’s not scalable. For real world assets to work onto chain, we need much larger assets to fully unlock all the value that is being tied up….
Kevin Tseng: Sure, we believe real world asset (RWA) is the key to unlock the full potential of DeFi, and it will be the building block for many innovations to come. We are fortunate that there are allies in the ecosystem who are also trying to solve this problem. We can’t solve this problem alone, and we look forward to work with any project to help us scale the RWA use cases in DeFi
Cyrus: Now we move to the last segment of the AMA session public Q&A,
@ibrakus: Do you have an NFT launch plan? Recently, many projects have launched NFTs to attract investors, how is your view of the NFT industry?
Bob Chien, Ph.D: No we don’t. This is not our main goal to achieve atm.
@sagnzhu: Could the community be useful in any way regarding marketing, or somehow spreading the word around to potential clients that would benefit from NAOS?
Jeffrey Lin: Absolutely. The community is imperative to the success of NAOS Finance, not just from a marketing perspective but their participation will be integral to helping the off-chain world adopt aspects of DeFi. For us, we look to the community for inspiration and ideas for the evolution of NAOS. If you have great partnerships, let us know and we can figure out together how to work with them. On the other end, the community will become an integral part of the assessment process in determining which assets should be a part of the NAOS ecosystem and which ones shouldn’t be. These are all things that we are thinking about. I would invite the community to join us in our own NAOS Finance telegram channel to help drive us forward.
Bob Chien, Ph.D: NAOS Finance is an interoperable marketplace that connects real world borrowers and crypto lenders. Crypto lenders can invest in tokenized real world assets in order to generate yields on their investments. Investors can also earn bonuses for staking their assets in exchange for NAOS tokens in the near future.
Our goal is to solve the issue of overcollateralization in the DeFi space by leveraging safe, stable and insured assets off-chain to back our investor’s on-chain activities.
@van398: Southeast Asia is a very vibrant market and many project developed here so with NAOS what do you think about Southeast Asia and do you have any plan to develop here?
Jeffrey Lin: Southeast Asia is near and dear to our heart. Many of our partners that we work with on an asset origination basis is from the region with other partners sitting all around the world.
@wenker98: How do you generate revenue?
Bob Chien, Ph.D: We make money on the spread between the interest rate that the borrower will be able to accept and the interest rate that the lender will provide us.
@rdooley: Considering that central banks have issued huge amounts of FIAT money and inflation is expected, should I expect NAOS to appreciate against the USD in the long term?
Kevin Tseng: We can’t say that NAOS will be a tool to hedge against inflation, but we see the trend of people moving their fiat that are earning 0.1% APY in the bank, and converting it to stable coins to earn much higher returns in DeFi
NAOS provides an asset type that allows ordinary folks who want the crypto exposure but not having to deal with crypto native underlying assets. Tokenizing real world assets and channel the income stream as interest to the token holders is our solution to expand DeFi adoption for risk-averse individuals
@hciyebr: Binance smart Chain blockchain is having high transaction speed and cheap gas fees, Are you planning to launch your mainnet or switch to other blockchains in the future?
Jeffrey Lin: We look as ourselves as a multi-chain solution in which we are considering a few partners. At launch, we hope to be working off of the Ethereum blockchain as well as Binance Smart Chain to allow both sets of users to engage us in their preferred methodology. As ethereum has the most active DeFi community out there, we understand how important that is to our launch. At the same time, the lower gas fees allows many new users to jump into DeFi for the very first time as well as letting DeFi veterans play into a wider field. Look for our new medium post that will be launching very soon. https://medium.com/naos-finance .and don’t forget to join our telegram for the future good stuff. https://t.me/naos_finance
@sineken: Now that technology is changing every second, are you afraid that in the future NAOS will lag behind new projects with newer technologies? Do you have a plan for this?
Kevin Tseng: The most challenging thing for any protocol dealing with real world assets is to resolve the regulatory issues and be able to bridge tradition finance and DeFi.
NAOS has nailed the two most important aspects of the puzzle: regulatory compliance and asset origination!
We are super excited about the fact that there are so many protocols driving the technology advancement in a very transparent way. All participants in this industry will have the benefit to learn from one another, and to optimize/innovate on top of any technological breakthroughs
@dunvet: Could you please tell me just a little more about the team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes.
Jeffrey Lin: Great question. Personally I think what sets us apart is the diversity and experience of our team. Our current team is comprised of people from finance, startups, engineering, tech, sales, management consulting and entrepreneurship. Though we may be diverse, we know finance and we know DeFi. More importantly, the majority of our team members have all launched their own traditional startup businesses and have leveraged that experience into growing NAOS Finance. In addition, our advisors have been amazing in helping us orientate ourselves into more nascent aspects of DeFi and helping us come up with new feature sets. We feel fortunate that we have such amazing people helping us as we grow NAOS into an ecosystem. Be sure to join us in a discussion in our own telegram group — https://t.me/naos_finance
Also, I should mention that we are NOT doing any airdrops right now. So if you are being solicited by anyone that claims to be one of us (or from NAOS Finance), please do not give them information.
@covid19vv: As we know, Most of the blockchain/cryptocurrency projects are not solving any real problem, they just exist to sell their tokens. What problems exactly is NAOS Finance solving, and solutions are you provide? Give me 3 reasons why I should choose NAOS Finance?
Kevin Tseng: NAOS is tackling the century old credit gap problem, as of now, the credit gap stands at $3.5 trillion dollars, and the number triples if we also take un-funded inventory into consideration.
We are facilitating the connection between credit worthy institution borrowers and risk-return adjusted lenders, removing the centralized and opaque decision making process that’s currently the norm at the banks. Also, we’re allowing borrower to have access to lenders globally
Cyrus: The above is all for today’s AMA. If you want to know more about NAOS Finance or have more questions about NAOS Finance, please check
NAOS Finance’s website and community links can be found here.
Official Website: https://naos.finance