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GAINS Associates

SuperBonds — Telegram AMA — April 27

On Wednesday, April 27, we had the pleasure to welcome to our Telegram chat:

Vishal Shah

We asked him questions about the development of SuperBonds.

Some sentences have been slightly edited for readability but the meaning has been conserved.

Introduction

Q — Ayeley from GAINS: Please introduce yourself. What did you do before crypto and did you have any other previous venture in crypto?

A — Vishal from SuperBonds: In the old world, I spent about 10 years in global EM trading at a number of banks. But I saw the light in 2016, and have been in this space ever since. I entered crypto through the lens of a derivatives trader, and the evolution has been along that line. I’ve set up a trading & VC business, run an options fund, and even sold a centralized derivatives exchange geared for institutional clients. The pivot to DeFi was unforced, and a function of where the market was naturally left wanting. The entire idea behind SuperBonds is to carry that same common thread of what we understand best and try to bring it to the masses through a simple-to-use platform.

About SuperBonds

Q — Ayeley from GAINS: Tell us more about the SuperBonds project then

A — Vishal from SuperBonds: SuperBonds is about bringing fixed income alternatives to DeFi. As it stands, there are a number of different strategies employed on DeFi. All kinds of vaults, options, etc. But there’s almost no way to simply create a guaranteed USD return for no USD risk. What we did was extract the yield from stablecoins across DApps (crosschain) and created a benchmark rate around which those that wanted, could earn a guaranteed fixed yield, while others could take a view on the variable aspect of it. It’s really a win-win with two totally different audiences on the same product. Hence, we saw this as the optimal way to break into a market that is otherwise focused on farming.

Q — Ayeley from GAINS: How user-friendly will the platform be, especially for noncrypto folks?

A — Vishal from SuperBonds: Very simple point and click. nothing to farm, nothing to sell. It'll be about USDC in and USDC out. You can have a look at the devnet.

Q — Twitter User @Dexxter_78: I was surprised that in SuperBonds, users can make use of NFTs to be the collateral for their open trading positions. Can you please explain exactly how this feature works? How would SuperBonds determine the NFT’s value when used as collateral?

A — Vishal from SuperBonds: First, we need to reconstruct the idea of what an NFT conventionally refers to. NFT just means something unique, it doesn’t need to be an art form. On-chain, it means that no other token can be the same (it has a unique identifier). Alright, so the bonds issued on SuperBonds are single-mint tokens, which means they are NFTs. Each fixed-yield bond has a guaranteed maturity value based on the fixed yield. So, for example, a bond (i.e. an NFT) with 10% APY and 30 Day maturity bought for $100,000 today will have the value of $100,786.45 after 30 Days. As an NFT being held in your Solana Wallet, you’re free to transfer it to any other Solana address. Thus, you are free to use this Bond NFT at any place that’ll accept it as collateral. As bonds are marked-to-market, meaning that between today and the maturity date, the live value of the bond will be between $100,000 and $100,786.45, depending on when you check the value, it is easy to determine either at a live price or the price at maturity to set prices when using the NFT as collateral.

Q — Telegram user Hãy Chào: Today, there are many investment platforms in the cryptocurrency ecosystem. However, they come with cons and potential risks, such as lockout periods, large transaction fees, etc. So, how does SuperBonds solve problems like this? What innovations will you offer your platform users?

A — Vishal from SuperBonds: We don’t have lockups or lockouts or large fees. We fundamentally believe that a user should have access to their money at any given point in time. check out the devnet. what happens there is what will happen on the mainnet

Q — Telegram user Hồng Dương: It was indicated in your platform that there will be DUAL REWARDS for SB/USDC POOL. Can you tell us more about your available pools and how can we maximize our yields on these pools? How will the DUAL REWARDS take effect on the SB/USDC pair?

A — Vishal from SuperBonds: Dual reward was the double-dip pool we set up in partnership with Orca. Because by trading on SuperBonds, Orca stands to benefit (it is one of the DApp destinations for generating USDC yield), we linked up to say whoever provides yield in the $SB/USDC pool will earn yield in both ORCA and USDC. The yield was some 400–500% early on. The double-dip has just ended but will be revisited soon after our launch

Q — Telegram user Coco T.: What is the meaning of the bond that is self-custodied and can be used for collateral? Are all bonds being NFTs?

A — Vishal from SuperBonds: The NFT or bond (same thing) is in your possession. This is important. Normally for any interaction with a platform, you may get an LP token.

When you want to borrow against that LP token, ppl may say well we don’t know what it will be worth 1 month from now. it can be higher or lower or not much higher or a lot higher. All of those are credible outcomes. With the bond, it’s fixed. When you buy it, you know how many USDC you are providing to the smart contract, and you know how many you will get back when it matures. there’s no guessing. Because there’s no guessing, it’s easier to lend against. Say you take that bond somewhere and want to borrow against it. Unlike the LP token, there will be certain about what it will be worth upon maturity. Hence this is why we say the bond or the NFT is collateral. This really hasn’t been done yet.

Token

Q — Ayeley from GAINS: What will be the token use case in the SuperBonds ecosystem?

A — Vishal from SuperBonds: The $SB token is actually very unique.

1. It's pure deflationary. no more can be minted beyond the 10b that is in the contract (60% of them are over a 7+ year emission schedule)
2. SB is a pure utility token (it has a legal opinion on this from leading counsel in the UK). It’s actually what we call a second layer gas; it is burned in every transaction. whether you buy, sell or transfer a bond, SB is always burned (kind of like your ETH gas fees)
3. SB holders will eventually be incentivized by the SuperBonds DAO. SuperBonds is a multi-sig platform run by governors. There is a treasury, and a whole host of other features to be managed. Governors, who will be voters of the DAO, will likely have had some accumulation of SB So $SB is needed in every transaction, to do anything on SuperBonds. But it’ll also be needed to eventually steer the platform.

Right now it trades at a $2mm market cap. I can’t think of many other projects that are days from launch and fully audited that trade with such a deep discount. Check it out for yourself.

Q — Telegram user M Lover: Where can I buy the token?

A — Vishal from SuperBonds: You can get it on MEXC, Raydium, Orca, and Jupiter

Funding

Q — Ayeley from GAINS: Did you raise funds so far? If so, how did you handle them? And are you planning to do any future raises?

A — Vishal from SuperBonds: We had the privilege of raising a pre-seed round of $3mm and hand-picking some of the best VCs in the space. We’ve used the funds to go from concept to a full-fledged, and audited platform that is due to go live in the coming days. We’ll be looking to take on a few more strategic investors soon to scale our operations.

Competitive Advantage

Q — Ayeley from GAINS: What makes SuperBonds unique?

A — Vishal from SuperBonds: There are various USPs to SuperBonds. There are various ways of thinking about it. Have a look at the whitepaper, and you may come up with a description that’s a little different. Here’s how I would position it:

SuperBonds is a layer 1 predator, but a DApp friend. What’s that mean? Well, when users engage on SuperBonds, they are really using that single platform to have access to the entire market (cross-chain) in terms of the fair value of interest rates. If so, that diminishes a user’s need to go to another chain, have another wallet, and transact on another farm. And because SuperBonds is domiciled on one particular chain, that chain benefits at the expense of the other chains (and reduced user activity).

At the same time, when users do engage with SuperBonds, there is a systematic allocation cross-chain to harvest stablecoin yield. As a result, DApps supporting stablecoin yield benefit from SuperBonds as it is additive and not predatory to their functions. (Note this is not an ‘aggregator’. An aggregator selectively looks for the best pricing. SuperBonds deploys on a risk-adjusted basis across all integrated platforms).

Q — Twitter user @meml1997: MetaLend is an upcoming product that SuperBond will release, described as “not the same boring model” we are used to. Can you give us more details about MetaLend? How will this product really work? What will make it so different and refreshing compared to similar products?

A — Vishal from SuperBonds: MetaLend is a product that naturally follows from SuperBonds’ MetaYielder product. MetaLend is an unsecured lending/borrowing platform that addresses the key issues when it comes to credit markets for DeFi. Anyone will be able to borrow (if they get funded) without collateral, with each borrow contributing to their on-chain worthiness. Though some teams are solving for this by just looking at scoring, SuperBonds is actually creating the instruments that will determine credibility. It’s an involved process, and On-chain verification of assets will play a part in setting this up. But we’re excited because this is not yet done in the space, and the opportunity horizon is quite uncapped.

Business Development

Q — Ayeley from GAINS: How far along are you with your roadmap. You mentioned the platform is due in the next few days. What should we expect in the coming weeks and months?

A — Vishal from SuperBonds: Well our mainnet is about to go live. Once we are live though, there are various things in the pipeline. Our v2 product, MetaLend (unsecured lending) is in core development, the SuperBonds DAO and governance functions are being formed, and we continually add eligible platforms for the MetaYield product. There are also a whole array of partnerships that we’re working on. Join our community to stay updated!

Vishal, thanks for coming into our community, and telling us all about SuperBonds. If you still have questions about SuperBonds, please join their communities here to learn more — Ayeley Commodore-Mensah from GAINS Associates 🐋

I’m going to drop some links in here. feel free to hop over to our community. We’ll take any and all questions. and please stay tuned. the platform is launching SOON

Website | Medium | Reddit | Telegram | Twitter | Discord

Where to buy $SB:

MEXC | Raydium | Orca | Jupiter
— Vishal Shah from SuperBonds

Join us now! Enjoy quality articles, daily curated news, insightful infographics, and enter a vibrant, fun, and knowledgeable community!

Website | Telegram ANN | Telegram Group | Discord | Twitter | YouTube

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