On July 05 th, Moma finance CEO Ocean Liao joined a live ask me anything session hosted by MEXC Global team, the AMA session lasted for 60 minute and it was divided into 4 segements.
During the AMA, Moma finance CEO outlined some exciting plans for Moma finance in 2021 , and gave an overview of Moma project and it’s development.
Segment 1 — Introduction
Today, we’re honored to have Ocean, CEO of Moma Protocol, to our community to give us a more intuitive introduction to their unique project.
Ocean, would you like to say hello and introduce yourself?
Answer: Hi all! I am Ocean, an entrepreneur in the blockchain industry. Since 2017, I have been building projects such as Gravity (the largest EOS node with 300,000+ token holders), Lichang (a community app with 1 million+ users), and TokenUp Wallet (100,000+ users).
I guess I am a “familiar name” or veteran among the Chinese blockchain community. And I am Founder & CEO of Moma Finance.
I am a long-termist and idealist myself. I like to do some innovative things and enjoy the process from 0 to 1.Maybe I will not succeed every time, but I have always been trying to change the world through the efforts of myself and our team.
Segment 2 — Questions about the project
1. What is Moma Protocol? Can you share with us more in detail?
Answer: Moma Protocol is a proprietary solution to meet the growing demands for liquidity, scalability and speculation in DeFi Lending markets. With Moma Protocol, everyone can create and manage lending markets. The protocol offers a proprietary customizable Smart Contract Factory which serves the lending markets and users in three roles: Factory,Launcher and Aggregator.
Factory is smart contract factory that can produce and manage Launch Pool and Lending Pool.
Launch Pool is a customizable Pre-Lending Pool designed for community mining. Community tokens can be distributed for any projects through the Launch Pool.and Lending Pool is a customizable lending market pool with an over-collateralized loan structure. This pool can support lending and borrowing in any market.
Aggregator is a calculator and analyzer based on Pool and market data. It helps users solve their personalized DeFi demands for lending, borrowing and community mining of crypto assets.
2. What triggers you to launch Moma Protocol? What are some of the real-world problems/ pain points that Moma Protocol aims to solve?
Answer: Moma Protocol differs from its competitors in multiple dimensions,I will choose some of these features to share with u guys.
1.Limitless Markets: Moma can support an unlimited number of assets, while Aave, Compound and Cream only support a limited number of assets.
2.User-defined pools: Moma offers a customizable pool solution, while Aave, Compound and Cream do not.
3.Application scenarios: Moma’s use case scenarios are extended to Launch, Lending, and Aggregate, while Aave, Compound and Cream’s user case scenario limits to lending.
4.Incentive tokens: Moma can have an unlimited types of incentive tokens, not just Aave, Comp and Cream tokens.
5.Risk management: Moma creates a multi-folded and sophisticated risk management framework, including: Token Risk Rating Database, Reserve Pool, Staking Management Pool and Whistleblower Mechanism. Aave, Compound, and Cream mainly rely on a single token risk framework.
6.Anyone can create ! Anyone can use ! Anyone can earn !
3. What are some of the challenges that Moma Protocol currently faces? How do you aim to solve them?
Answer: I think the biggest challenge in the future is how to maintain the ability to innovate. We all know that Defi is a very cutting-edge field. It can be said that everything is unknown. So how to see the further is a very big challenge.
Moma Protocol will be based on Lending Markets and continue to expand the product dimension of financial derivatives to create a complete ecosystem based on infrastructure.
Another challenge worthy of attention is security and risk management. In addition to full and continuous auditing of the code, we will also launch bug bounty and other activities to gain long-term support from the community. In order to deal with risks, Moma Protocol has introduced a variety of risk control mechanisms including whistleblowers. After the protocol mainnet goes live, we will continue to innovate and iterate on the risk control mechanism.
4. Are there any exciting news or updates with regards to Moma Protocol that you would like to share with the users?
Answer: First of all, Moma Protocol is about to usher in an important milestone-the launch event of Moma governance token $MOMAT. We will launch IDO at WeStarter&Boune at 11:00 (UTC) on July 6th, and launch IEO at Hotbit. After IDO, we will list MEXC Global, Hotbit, Uniswap & Mdex at 13:00 (UTC) on July 6th. Currently, the Boune whitelisting event is still in progress, More detail: https://twitter.com/Moma_Finance/status/1411309246281617418
Secondly, regarding the progress of the Moma product, our current contract has passed Certic’s audit, and the beta version of the product will be launched soon. The product will also be officially launched this month, and some partners have determined to open the Launch Pool after the product is launched.
Finally, currently we have prepared a competition event and prepared a $12,500 incentive pool for community users, More detail: https://twitter.com/Moma_Finance/status/1411334517613240325
5. If you were to summarize your project in ONE word, what would it be? Why?
Answer:I think the word will be “INFINITE”.
Because the goal of Moma Protocol is to use a custom lending pool to support almost infinite token markets and liquidity. This means that Moma Protocol can achieve unlimited expansion.
On the other hand, Moma Protocol uses the factory model to create various types of pools to support various Defi liquidity infrastructures, and Moma’s innovations are also limitless.
Segment 3 — Answering community questions
1 : Can you share your roadmap with us? What is your main focus for this year and are you planning to list on big exchange?
Answer: In our roadmap, the most important milestone is the launch of Moma Protocol’s mainnet, and we plan to complete this goal within July. After that, we continued to expand the number of lending pools, and we strive to bring in at least 100 partners to complete the creation of 100 Lending Pools within 12 months.
In Q4, we will start Moma’s multi-chain expansion plan. BSC, Polygon, and Arbitrum are our important on-boarding goals. We will schedule the landing priority in Q3 and complete the release of at least one multichain version in Q4.
In terms of product functions, we plan to gradually introduce Dao Pool and whistleblower mechanisms in Q4 to make Moma’s risk management mechanism more multidimensional and mature.
2: I am a investor and I only care about prospect of a crypto that I chose, tell me the reason why I should choose your project over the existing one ? What is MoMA Finance coin advantage that can convince me to change from my favorite token/coin ?
Answer : I think being a $MOMAT token holders can give u guys some privileges as follows:
$MOMAT holders can obtain part of our platform’s revenue.
$MOMAT holders can enjoy certain privileges and interests for future use of the platform’s lending market or other services.
$MOMAT holders can vote to participate in the development and key governance of the platform.
$MOMAT holders can stake $MOMA into the DAO Pool to get incentives.
3: I read on your whitepaper that Moma has introduced a role of “Whistleblower” to evaluate and identify unknown risk for lending platform, can you tell us more precisely about this role and what are their functions?
Whistleblower is the core mechanism of Moma’s risk management framework. With the expansion of Moma’s business and the increase of the number of Lending Pools, the workload of risk assessment and judgment would become very large. It would be impossible to complete all information judgment only through the risk control department of Moma. To accomplish this extremely important mission, we have designed the role of “Whistleblower” in the system.
Anyone could become a Whistleblower by staking Moma tokens, and the specific details will be announced after our product goes live.
After a user has become a Whistleblower, he or she could submit risk warning information. Moma will judge how valid such risk warning information is, through community or committee governance. Once the information is confirmed to be factual and valid, the Whistleblower who submitted the information will be rewarded by Moma tokens. If the information submission is malicious, the collateral in Moma token will be slashed as a form of punishment.
Segment 4 — Quizes
Our team prepared 5 simple quizzes for the AMA participants, where the winners will win $MOMAT tokens.
Here is the 5 Quizzes answers :
1. What is the token ticker of Moma Protocol?
2. What does Moma Protocol do?
- A proprietary solution to DeFi Lending markets
- A open source DeFi protocol
- A decentralized Ethereum wallet
- A decentralized insurance solution
3. What is the role that the protocol offers?
- All of the above
4. What time will Moma Protocol have an IDO (UTC)?
- 11:00 on July 6th
- 10:00 on July 6th
- 11:00 on July 7th
- 10:00 on July 7th
5. Which of the following words best summarizes Moma Protocol?
We Thank all the participants for spending time to learn more about Moma Finance important upcoming events.
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