Dec 31, 2021
Avarta’s Holiday AMA and NFT Giveaway: Recap
Date: December 29, 2021
Guest: Hong Loon (COO of Avarta)
Where: Avarta’s Official Telegram
Hello everyone! Welcome to Avarta’s Holiday AMA with COO HongLoon! Thank you for all of your questions. Hong Loon if you could please introduce yourself and your role with Avarta.
(HongLoon): Hi, it is my pleasure to do Avarta’s inaugural AMA with our own TG group. Good day everyone!
Q: What in your mind are the most likely reasons people will be attracted to use and to stick with Avarta wallet? (from Jlow)
A: Sure, I started in the TradeFi space and have a financial background, having worked with multiple financial institutions. Since 2017, I have been increasingly drawn into the blockchain space through buying the largest tokens and mining. We see the unique use cases that it can bring about through it’s decentralized nature.
This is also the main reason on why we started Avarta! As Avarta, we hope to build a suite of solutions in a multi-chain manner, whereby access to the DeFi and Web 3.0 world is so much easier with biometrics!
I am the Co-Founder and Chief Operating Officer of Avarta. I do not have a typical day, as running a crypto project is a very exciting endeavor. We hope that through our efforts, we can benefit the wider blockchain world with a solution that is easy to use for everyone.
Q: What about the Avarta Trust Scoring works? How does your protocol determine and measure users’ Trust Scores? What are the benefits if a certain user has a positive Trust Score? (from Deric)
A: This is an excellent question from Deric
With the Avarta Trust Score, users are scored based on their trust on the blockchain, in a multi-chain manner anonymously. The parameters will be open to a DAO community, whereby our community members can vote if a parameter is relevant or not!
In this manner, we can create decentralized transparency across the blockchain. Imagine in a Metaverse world, whereby P2P transactions happen between different avatars. With the Trust Score, we empower users to possess information to make the decision on whether to transact with the counterpart or not. This is how we aim to bring value to the Metaverse!
Q: How has the experience and background of your team been effective in the success of your project so far? (from social)
A: Sure, an excellent team is always the backbone of a successful project
The team here is absolutely critical, and we are glad to have a world-class team to build this project. Our team is made up of a diverse team of professionals from the blockchain and TradeFi world.
We have a team of 15 members now; with more than half of them focusing on technology, R&D and security.
To find out more about our team, please check out our website here: https://www.avarta.io/
Q: Ambassadors and sponsors have their own power to make famous, so have you entered this stage, do you already have ambassadors and sponsors? (from Dapet)
A: Very relevant question here! Indeed from the picture above, we are introducing the “Avarta Academy Ambassador Program”. This program serves to help build knowledge of our unique solutions and what it can do on the blockchain!
Please refer to the diagram above and stay tuned to announcements on this community chat and our official announcement chat: https://t.me/AvartaChannel
Q: What in your mind are the most likely reasons people will be attracted to use and to stick with Avarta wallet? (from Jlow)
Avarta aims to be an easy-to-use access point to Web 3.0, across multiple chains. Using our biometrics, we aim to build a project that allows users to transact across multiple chains.
With our R&D, we want to allow you to enable transactions using your biometrics only, in a DeFi and non-custodial way. With that, Avarta can be one of the best user-friendly wallets in the blockchain ecosystem and allow users to stick to us forever!
Q: Is it possible that you will build a highly thriving community, genuinely care and support the project for a long time, rather than just getting a very temporary profit? (from social)
A: Good question! The Avarta Project seeks to balance community involvement and profitability. We are building a series of initiatives to help build the community itself, such as the Avarta Academy. There will be more campaigns similar to this so please stay tuned to our Twitter account for more announcements: https://twitter.com/avartanetwork
For Avarta, we are about long term sustainability and growth of both the project and the community.
Q: Which chains will Avarta be launched on and when is the IDO? (from multiple participants)
A: Very pertinent question here. I’m sure the community is very excited to know when they can start getting involved in Avarta tokens.
As a multi-chain solution, our technology can support whitelisting of wallets and transactions across up to 5 chains (ERC, BEP, SOL, Cardano, e.t.c) upon our first release. Our IDO will be done as a dual launch on a CEX and a DEX towards the end of January’22 so please stay tuned!
Q: Avarta Multi-chain wallet with Biometric Tech is an amazing concept that someone can avoid complex passwords and seed phrases to remember. Can you explain something more about this? Really excited to learn about this new high technology concept. (from Ravi)
A: Yes absolutely, think about this as every person’s biometrics is a unique pattern; as unique as the seed phrases of a crypto wallet. What we are aiming to do is to allow utilize the biometrics in an anonymous manner (we don’t store your facial profile!) to aid in these transactions
This allows us to be able to enable transactions through biometrics!
Q: We really like projects that are easy to operate, and also for new users there is no difficulty in operating them, so does your own project have an easy operating interface for new users?
A: Indeed we are! A central feature of our solution is to ensure that the user experience is excellent. This is the main reason around the biometrics for transactions and whitelisting to join DeFi projects
Imagine being able to whitelist through biometrics instead of filling out multiple forms on DeFi projects. That makes access to such projects so much easier.
Q: Do you have Advisors & Backers for this project? (from Dapet)
A: Absolutely, it is very important to have strong backers and advisors on the project.
For that, we are glad to have strong advisors and supporters from the crypto world with the likes of:
- Magnus Capital
- Marshland Capital
- X21
- Maven Capital
- Consortium of Tembusu Partners GPs
- GHAF Capital
We also have even stronger 💪partners coming in so please stay tuned on this channel!
Q: This will be our final question as we wrap up this Holiday AMA with Avarta COO HongLoon! Can you list 1–3 killer features of Your Project that makes it ahead of its competitors? (from Deric)
A: A great question to end this AMA
Our unique features are around:
- Ease of use, through biometrics to allow for multi-chain transactions and whitelisting
- Revolutionary Avarta Trust Score allowing users to create a trusted “decentralized transparency” on multiple chains
- Storage of all non-custodial NFTs on a single platform
These features are what makes Avarta stands out!
About Avarta
Backed by patents, Avarta is a next-gen data authentication layer with a biometric cross-chain wallet aggregator and an innovative cross-chain credit scoring system.
Users using the Avarta Wallet can enjoy secure keyless crypto at their fingertips where their own biometrics and device behavior become the access point and private keys to their wallets, removing the need to remember and securely save long seed phrases.
Avarta users will also be able to gain access to differentiated crypto financial products such as loans with a lower collateralization rate based on their Avarta credit score.
Join the Community
If you are interested to participate in our community and receive timely updates, join the following official channels:
For partnerships, media, or other collaboration opportunities, please email belinda@avarta.io.
