AMA Recap of Dude’s Army x Kianite
On Saturday, May 1st, Dude’s Army community had the great opportunity to host an AMA with Kianite’s team, very instructive and educational. We will share with you a little bit of what this experience was like.
Let’s start. To begin with a good mood share a bit about yourself and your background. Also explain us how you started Kianite.
Sure, my name is Shane Benjamin. I’m from a small island in the French caribbean name Saint-Martin. I’m a software developer by trade and I specialise in blockchain development.
I had the idea for Kianite when a friend of mine asked me a whole bunch of questions about how they can get into crypto and where they buy. But they didn’t want to become a day trader or have to manage a portfolio and they asked me if their was anything they could buy like and ETF or something. and the idea grow from that I noticed that their were products like that but I felt they didn’t match the blockchain narrative in terms of building communities. So we focused on that with Kianite
Amazing! In that sense, explain to the community what Kianite is doing to solve this ETF type of problem.
In other words explain us fully what Kianite is building
Okay, so at Kianite we are building community governed tokenized indices, we are building more of an ETN (in traditional finance) or synthetic. We create one token that tracts a basket of crypto assets, for example BTC, ETH, BNB and so on and we allow the community to vote on what assets will be tracked in the index.
Great! But the major issue I see here is the liquidity for recently created indexes
How do you solve that?
Yeah, I agree. So what we plan to do for that is to create an index launch pad where early investors in an index will be able to invest at the launch pad stage and contribute early liquidity to the new index and get prises in return. For example, some $KIAN tokens or an NTF for being an index launcher and other prizes and rewards along those lines.
Sounds great! That’s a very interesting idea and will definitely add the initial liquidity to the index
How does Kianite tokens play in the ecosystem?
Kianite tokens will allow holders to participate in a variety of different voting process such as choosing what tokens will go into each index, the weighting of each token in the index for example if we are going to make 30% of the index BTC, also the market cap required for a project token to enter the index and so on.
The token will also be used to vote on different aspects of other products as they are released.
Q1 from Yaritza:
If Kianite is really part of the BSC chain, then why does Fluid provide users with the ability to exchange ERC-20 tokens using its platform? Will they completely migrate to ETH?
Hi, so when we put out the initial details we were planing on launching on ETH but as the BSC was becoming more and more prominent and was also cost effective we felt like it would be a better choice for our community to use their blockchain. Also it is functinally the same as ETH. But, we are working on a bridge with one of our partners so their is a possibility of us also being on ETH
Q2 from Al Bianco:
I like that Kianite is building a community-governed DeFi ecosystem. But, specifically, what is the importance of the community in Kianite and what benefits will your products offer from investments to liquidity products? Of so many projects focused on community governance, what are the benefits that you offer unlike others?
We believe that the community is important in terms of providing direction. At the end of the day we are building the products for you all so giving you the ability to choose what you want from the product make it easier and better for everyone involved. I think all community governed project provide the same thing a say and in the direction of the project
Q3 from Lalepop:
What are the advantages of adding governance in the indexing sector? What value will this add in the DeFi space?
We believe that adding governance opens up the index to more possibilities. were a research team and can only find so much project a community filled with enthusiasts would know about, find, and do research on a much breadth range of potentially great projects that would add value to the index.
Q4 from Gerardo Soto:
You point out that with BATH you can create a diversified investment vehicle, but how diversified will it really be? will it be limited to ERC20 tokens? or could they be expanded to all blockchains?
Our index tokens will expand to all blockchains and projects that have enough information for us to verify them and add them to the index. So the project can have it’s own blockchain or be a token on another blockchain once we can see it’s market cap, price and some other information we should be able to add them to the index.
Q5 from Gerardo Soto:
Will the token holders have the permission to vote about Kianite future progress and development? If yes, how much token do we need to hold and what other benefits will token holders get?
Yes, you will need to hold the tokens in order to vote. Future benefits apart from voting are not clear yet but we are working on a ter program for big and long term holders of the token.
Kianite is a community governed DeFi protocol ecosystem. We provide a range of DeFi products and we give the community the power to govern over each product in the ecosystem.
More information about Kianite: