Cardano DeFi #011: Iagon

Written interviews with DeFi projects on the Cardano blockchain.

Today’s Cardano DeFi project is a decentralized solution for data storage and cloud services that is on a missione to become your Data’s new best friend: Iagon.

The previous guest was a decentralized exchange and software provider building a decentralized finance (DeFi) protocol within the Cardano ecosystem.

This initiative is a point of reference for Decentralized Finance (DeFi) on Cardano and every week or two we will invite someone to answer some questions and give us an update directly from within the Cardano community.

Hey, glad to have you here. Please introduce your team, where are you from, what are your backgrounds?

We’re a Norwegian company driven to create practical solutions for data protection and compliance. Our journey began by bringing together industry experts who co-founded Iagon, the pioneers of a shared storage economy blending decentralisation and regulation, making us an ideal choice for enterprise clients.

Leading our team are four distinguished PHDs: Dr. Elad Harrison, a machine learning expert; Dr. Rohit Gupta, former Director of Technology at Expedia, now a Senior Manager at Google; Dr. Claudio Lima, with a background as Director of Technology at Huawei in East Asia.

We’ve recently expanded to a team of 19, including developers, marketing, and product managers, and we’re planning to grow shortly. Our edge lies in our expertise in decentralised computing, AI, cloud architecture, and business development, combined with our passionate and diverse team.

What is Iagon and what problems are you aiming to solve?

We can be your Data’s new best friend :)

At Iagon, we’re all about making data storage and cloud services feel like a breeze in this age of Web 3.0.

We’re on a mission to make data storage not just secure but also super user-friendly. Picture this: a storage platform that’s not only on the right side of the law but also has your back, guarding your data from any sneaky intruders.

We can mark several benefits that can make you love Iagon:

Your Data, Your Rules:
Your data should always be under your control. That’s our mantra. With Iagon, you decide what you share and who gets to see it. Your privacy, your way.

Savings Galore:
We’re all about cutting out the middlemen. No need for big names like AWS or Google. We’ll connect you directly to resource providers, which means more savings for you.

GDPR? No Sweat:
GDPR compliance can be a headache, but not with us. We’ve made it simple. Our platform seamlessly fits GDPR requirements and any other data regulation framework worldwide into the mix, so you can focus on your data, not regulations.

Precision Resource Matchmaking:
What sets us apart? Our clever marketplace! We don’t throw darts blindly. We get to know each resource provider’s behavior. Need GDPR compliance and high-speed performance? We’ll find you the perfect match, tailored to your exact needs.

Pioneers, not followers!:
We’re pioneers in our field. We’ve even got patents to prove it. But don’t worry; we’re still keeping it open-source, just the way you like it. We’re just keeping a little something to ourselves to stay ahead in this bustling space.

Iagon is here to make your data feel at home in the digital world. Think of us as your data’s best friend, guarding it with care and giving you the control you deserve. Your data, your world, your Iagon adventure. 🚀🌐

What do you think needs to happen for people to understand the value of decentralized cloud services and choose these instead of centralized solutions?

Well, you know, there are some pretty great reasons to go decentralized. Let me break it down in plain terms.

1. Cost-Effectiveness: It’s all about saving your hard-earned funds. When you deal directly with resource providers, it’s way cheaper than going through middlemen like AWS or Google. Money in your pocket — that’s a win.

2. Power to the People: Imagine having control over your data. That’s a game-changer. With blockchain tech, we’re all about giving that power back to the folks. It’s like taking control of your digital destiny, instead of big corporations calling the shots.

3. Data and Privacy: This one’s huge. With a decentralized cloud, you decide what happens to your data. Share it, keep it locked up — it’s your call. No more secrets slipping through the cracks.

Now, here’s the thing about the early days. Decentralized solutions might not be as super-secure or as lightning-fast as the big centralized players. But guess what? As more and more folks jump on the decentralized bandwagon, things get better.

Scalability — that’s the fancy word for it — is a bit of a challenge at the start. But with more people joining in, it’s like adding horsepower to the engine. We’re on a fast track to making it just as secure, efficient, and powerful as centralized services. So, the future is looking pretty decentralized!

Tell us about your $IAG token. What is its utility and how can people earn it?

The $IAG token is your ticket to the heart of the IAGON ecosystem, and it’s more than just a Cardano native token. It’s like owning a share in the action of our shared storage economy, and it comes with some fantastic perks.

First off, holding $IAG tokens means you get a slice of the pie when it comes to the revenue generated by our decentralized storage exchange. Think of it as your personal dividend.

But wait, there’s more! If you’re into earning rewards, you’ll love this. $IAG tokens also serve as a bonus for our resource providers and the ADA holders who delegate to our Cardano stake pool. It’s like a little extra thank-you for being part of our community.

And here’s the kicker: we’re all about keeping the rewards flowing. Our Iagon Ecosystem Fund can buy $IAG tokens from the open market. Why? To keep our ecosystem reward pool full and ensure there’s always something sweet for our stakers and resource providers.

Now, let’s talk about how you can make your $IAG tokens work for you. When you stake your $IAG, you become part of our revenue-sharing club. You’ll earn a piece of the action from the transaction fees on our decentralized storage exchange. Your earnings depend on how much $IAG you stake and the trading volume in the exchange. It’s like getting a cut of the action every time someone uses our network.

And one more thing — when resource providers commit to offering their resources, our ‘rewards DAO’, core component of the system, takes care of their rewards. They can’t touch it until their commitment period ends (usually at least a month). It’s all about trust and keeping our promises.

So, in a nutshell, owning $IAG tokens isn’t just about holding a digital asset. It’s about unlocking multiple revenue streams and enjoying some passive income along the way. It’s not just a token; it’s your key to a world of possibilities in the IAGON ecosystem.

You can learn more about the Utility model on our blog here.

Amazing. Any closing thoughts? Where can people learn more about Iagon?

First things first, we want to give a big shoutout to our incredible Iagonauts community. You mean the world to us, and together, we can achieve amazing things. Your support fuels our journey, and we’re deeply grateful for it.

Now, here’s a little teaser: We’ve got some exciting news in the pipeline, and we can’t wait to share it with you. So, please, stay right here with us. We’re working around the clock to bring you something special.

We love chatting with our community. Feel free to reach out with any queries or ideas you might have. Join us on Twitter, Telegram, or Discord. We’re everywhere, always ready to chat and share the latest updates.

Lastly, if you’re into the nitty-gritty technical stuff or want to explore intriguing use cases for our solution, swing by our blog. It’s packed with insights and information to satisfy your curious mind.

Disclaimer: The opinions and views of the people interviewed are their own and do not necessarily reflect those of the Cardano Foundation or IOG. Moreover, this content is for educational purposes, it doesn’t constitute financial advice.