HECO AMA Series Recap — Pilot Protocol

Series №007

Guest: Ziye, Pilot Protocol Marketing Director
Host: Sam of HECO

Introduction

Sam: Could you tell us about yourself? What did you do before Pilot Protocol and why did you choose to work for Pilot Protocol?

Ziye: Alright, let me first introduce a little about myself.

I first got into the crypto space in 2013. After that, I worked as an engineer at OKCoin for several years before starting my own business in 2018.

Questions and Answers

Q1

Sam: Could you tell us more about your project? In other words, what does Pilot Protocol do?

Ziye: Pilot is a decentralized over-borrowing protocol based on the Heco chain released by Pilot Lab. It is the first over-borrowing project on Heco.

Farmers can participate in liquidity mining through excess loaning with the option of leverage to obtain greater profits.

When a farmer wants to participate in Defi liquidity mining, but suffers from a lack of funds, Pilot could offer up to 3X leverage to help farmers gain more profit per unit of time. At the same time, it also provides users who prefer stable profit with a lending pool to earn interest.

Q2

Sam: There are many similar projects out there, some have been quite successful. What is special about Pilot Protocol compared to other projects?

Ziye: In a common DEFI mortgage loan, the loan amount is usually less than or equal to the user’s assets. In Pilot, if you save $1 million, you can borrow $3 million. With leverage, pilot offers a win-win-win situation for lenders, borrowers, and the platform.

On the one hand, Pilot’s excess borrowing increases the borrower’s profit through leverage. Also, Pilot achieves a high utilization rate of funds, thus improving the returns of lenders. In addition, the project itself can obtain long-term healthy development through the interest between deposits and loans.

Q3

Sam: Could you give us some info on the PTD Token?

Ziye: As the governance token of the Pilot protocol, PTD will serve as the core utility token of the entire Pilot product portfolio, including equity and reward sharing through the provision of liquidity or protection agreements and management program. For Pilot over-borrowing, there is a liquidity mining program that provides users with PTD rewards because they channel liquidity on the protocol through deposit and borrowing of assets.

As the Pilot protocol continues to innovate in the DeFi field and develop more Pilot series products, PTD token holders will be able to propose key protocol parameters for all Pilot products and suggestions on how products interoperate and make decisions.

PTD tokens will continue to be the main tool to adjust incentives for community builders and supporters, create a strong DeFi enthusiast community, and jointly help promote the development of the Pilot ecosystem.

Q4

Sam: What can we do with PTD tokens?

Ziye: That’s a great question.

Pilot pioneered D&B(DAO and Burn) where platform revenue gets released to holders. In recent market pullbacks, PTD stood its ground, showing confidence in the community. More importantly, Pilot’s economic model allows it to survive even in extreme market conditions.

Q5

Sam: Why does Pilot choose HECO among many public chains including exchange public chains? What other cooperation will be carried out in the future?

Ziye: It is true that there have been some short-term bad projects on HECO, but the defects cannot be overshadowed. With the sound and integrity of HECO's ecology, more and more applications with real value and real scenes will emerge later, including Pilot.

1. The transaction speed of HECO is very fast, which will be deeply felt by users and developers who have used HECO public chain.
2. The gas fee of HECO is super low. We have gone to Ethereum to calculate that the gas fee for a product of our complexity is at least $160–200 per transaction. In fact, such a service fee has automatically isolated 99% of the users.
3. The ecological system on HECO has been perfected, the infrastructure development is in the usable stage, and users on HECO are highly motivated to use and experience new products.

Future Cooperation:

1) Now we have reached cooperation with Huobi mine pool HPT, including Huobi’s compliance stablecoin HUSD.

2) Based on our current TVL and the number of users, in the next step, we can reach deeper and deeper cooperation with more assets and more Dex.

3) For example, we have been in close contact with several hot projects in HECO recently. Through our screening, risk control, contract audit and other standard projects, we expect to inject millions or even tens of millions of depth into them.

Sam: There are more and more projects launching on HECO, i am sure you can find other suitable projects on HECO and cooperate with them

Q6

Sam: Where do you see the future of DEFI? Will Defi become an option for mass finance?

Ziye: After several years of development, DeFi has gradually started from a purely new concept to one that everyone can use. More and more valuable and rigid products will appear in the future.

In the short term, there is certainly a long way to go for DEFI to become a public finance platform. However, we have also noticed that DCEP of our central bank and Libra of Facebook are very good imaginations and signals. I think blockchain and decentralized finance are in the future.

Q7

Sam: How does PTD lead to user adoption and growth?

Ziye: At present, we take the product as the core and constantly test and optimize the subsequent functions in order to bring better product experience to users. Product is the top priority of PILOT.

Only excellent products can better drainage. In addition, we also started DAO governance, actively listen to the opinions and suggestions of community members, and constantly improve and optimize.

Q8

Sam: If you were to summarize your project in 1 word, what would it be? Why?

Ziye: We started Pilot based on our own understanding, but never stopped improving when new ideas and suggestions came upon us. As your pilot, we will continue to improve, and lead you into the right direction.

In DeFi ecosystem every man is a pilot

In a calm sea every man is a pilot。

· HECO Website

· HECO Twitter and Telegram Channel (For the latest news)

· HECO Telegram Community

· HECO Discord (Welcome all developers to join!)

· HECO Explorer