AMA Recap: Glitter Finance X Diversity Ventures
In case you missed it, catch the full recap of our AMA with Diversity Ventures.
Our CEO David Dobrovitsky recently participated in an AMA session with Diversity Ventures. He answered several community questions on the details of Glitter Finance, its core fundamentals, how the roadmap looks for the next quarter, our expansion plans with collaborative partnerships, the unique value attributes of the project, and a sneak peek of an exclusive upcoming news.
Q: Can you describe the project for the community to understand?
D: Glitter Finance is a cross-chain bridge connecting the Algorand ecosystem first with Solana, then Polygon, Cudos, and Terra. The platform is designed to be a DeFi 2.0 platform, which allows a cross-chain bridge to become an automated investment platform. This is achieved by integrating yield pools and whitelisting them in the platform, and then allowing the platform to automatically redeploy (or allowing experienced traders to manually redeploy) the wrapped tokens created by the Glitter Bridge into those pools.
Further, we plan to integrate AI, algorithmic trading, and machine learning, to automate the process of DeFi trading. Our long-term goal is to create a major platform that automates DeFi trading and generation of profits for novice traders, and facilitates mass adoption.
Q: I saw your website and I think the project is bringing great value to users. Can you share about where the idea of Glitter came from?
D: For the last two years, me and my wife had ideas of creating a platform which would be able to easily convert DeFi and crypto profits into a usable income for normal, non crypto or technology oriented people. I had started two previous DeFi projects (both still alive and successful), in order to achieve this. However, I felt that both other projects fell short of my mission and vision. Finally, in the summer of this year, I started Glitter to create a platform that would correspond to our initial vision and ideals. My inspiration came from my daughter, who was painting my toe nail in glitter nail polish.
Q: What are the core fundamentals of the project? And what platforms can Glitter connect to?
D: I have described the core fundamentals above. The Glitter bridge will connect to the most popular wallets within the Algorand and Solana ecosystem (as our first product is the Algorand to Solana bridge). These wallets will include: Myalgo, Algorand Wallet, Phantom, and Solflare.
Q: We really want to know a little more about your roadmap so far. And how is the project intended to develop in the next quarter?
D: For the next quarter we plan to roll out the Algorand to Polygon bridge, to integrate yield pools on the Algorand to Solana bridge, to integrate the fiat portal, to perhaps do an IEO.
Q: Collaboration and partnership are the key factors to help a project enter a new market and increase its adoption. Please name some of your current partners, expansion plans, and what can be looked forward to through these collaborative relationships?
D: Launchpad partners include: Solstarter (for Solana XGLI IDO), Aegis (Algorand XGLI IDO), Solster (Algorand XGLI IDO), P2PB2B (Algorand XGLI IDO).
Expansion plans include the creation of the Glitter Network, a blockchain system to facilitate remittances of DeFi profits.
Q: What are the valuable attributes of the project. Like, why is the Glitter Finance project unique?
D: We are unique because we think of the end-user first. We don’t think as developers first, we think as normal people, end-users. We are thinking of how not to scare people but give them a good experience. I think this is the most unique point of the project. Secondarily — we are opening-up the Algorand ecosystem to interoperability, and we are creating a DeFi 2.0 — smart and automated platform.
Q: Can you tell us more about the founders of this project?
D: The founders of the project are me and Gail, my wife. I am a serial entrepreneur in the DeFi field, with many years experience in creation of multiple protocols (which still exist and are successful), with experience in having been a CBDO of a major blockchain development and marketing agency, and with experience in having my own marketing agency and incubator.
Gail has many years experience in branding, business administration, and messaging of the business, having worked with the CIO of Hughes Network Systems, and other major American corporations.
Q: And where will we be able to contribute and observe Glitter Finance growth?
D: I suggest following us on Twitter, Discord, and telegram. We are easy to find. All official announcements and partnerships are always announced on Twitter.
https://twitter.com/GlitterFinance
https://t.me/GlitterFinanceGlobal
Q: Is there any precious information that hasn’t yet been made public that you can share with our community for ‘exclusive’ news?
D: We are currently planning a major listing with a centralized exchange. Stay tuned for more information.
Q: Currently, on the market, there are many token farming projects. So what are the different features in the Glitter Finances project that previous products on the market did not have?
D: We are focusing on creating a product for normal people, and we are also automating the process of trading. These are intended to allow normal people to get the benefits of DeFi without the stress of manual trading.
Q: Many projects have problems with UI / UX and this one turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?
D: The point is to have the right intention and focus from the start. From the very beginning, we focus on the end-user. This gives us the right energy to resolve this issue.
Q: Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?
D: Yes — the XGLI holders will become a DAO, which will be centered around helping us whitelist yield farms. This in itself will help to clean-up the ecosystem from badly performing, or scam projects. Secondly, the DAO will help us innovate the platform.
Q: Is the project only for elite investors, how about others with small funds, is it open to everyone?
D: Small, private investors can participate in the Public Round. Private rounds were from mostly VCs, KOLs, and super angels.
Q: Staking is one of the strategies to attract users and hold them long term. Does your great project have a plan about staking?
D: Yes, staking is part of the features of the platform.
