👑 King Arthur: Hi everybody, happy to be here for this great AMA🙂
👨🏻🔬 Dr. Brian: Let’s begin! Could you introduce yourself and the project in few words ?
👑 King Arthur: I am Mark, founder and CEO of KingDeFi.
My background is mainly in banking and technology, I have been working for some top tier investment banks for around ten years. I am as well in crypto since 2016, working as consultant for some DApps and Fintech companies mainly based in Zug, Switzerland.
KingDeFi is a DeFi project combining two main areas: analytics and monitoring where we provide a market overview, liquidity pool search engine and portfolio tracking to users and farming as we are a yield optimizer project on BSC and Solana.
It offers its Knights (= users) an a) Earnings and b) Monitoring function.
With the Earnings function, Knights can earn KROWN tokens by providing liquidity and staking directly on the KingDeFi platform.
With the Monitoring function, Knights have an overview about all major yield platforms on BSC and Solana and receive automatic suggestions where to receive the best yields based on their token holdings in their wallet. With one click, Knights are easily directed to the best yielding platforms. Knights also have a dashboard showing all key statistics of all major platforms such as highest/lowest APYs, TVL and more.
In combination, KingDeFi is the only “go to” place you need in order to optimize your farming and staking yields for both, BSC and Solana.
👨🏻🔬 Dr. Brian: It looks like promising and user friendly! Can you tell us more on your team? How experienced are they?
👑 King Arthur: We are a team with 50+ years of experience combined, with background mainly in engineering and banking.
Also most of the team are very senior people with 10/15 years of experience but the beauty is that the engineering part is very young which helps to move fast when it comes to blockchain innovation
still all of them have around 2/3 years experience in engineering smart contracts and also have university degrees in computer science
Here you can find all details regarding the team member.
👨🏻🔬 Dr. Brian: Are they mostly from Switzerland?
👨🏼🔬 Dr. Foley: Germany, Switzerland and Italy according to the medium article
👨🏻🔬 Dr. Brian: I see Italy, Germany, Switzerland … wow european team 👍 Can you explain us your tokenomics?
👑 King Arthur: yes very mixed european team, which is great!
You can easily find all the tokenomics details on our pitch deck and medium article.
👨🏻🔬 Dr. Brian: What have you accomplished to warrant and securize the funds of users?
👑 King Arthur: We are one of the very few projects with a 100% resolved rate at Certik
👨🏻🔬 Dr. Brian: Congratulations. It’s not easy to get that rank
👑 King Arthur: Thanks Brian, we know it was a nice piece of work from the dev team
Also some of our engineers have a strong background in auditing smart contracts. All smart contracts go through a very deep review before going to testing and release, safety for us is the first priority.
Here you can find all contract audit rate and details.
👨🏻🔬 Dr. Brian: You have a working platform, do you have plans on bringing other different products out?
👑 King Arthur: Sure we are working on multiple developments at the moment, and some very exciting new technology features:
Portfolio tracking: we will launch soon our portfolio tracking functionality where users will be able to view all what they invested in DeFi across main BSC farmers, as well moving multi-chain then in parallel
Multi-chain swap bridge: we are building at the moment a multi chain bridge, differently then other products we will move to other blockchain but without issuing an additional token
This will help avoiding arbitrage as well we are thinking to make it a viable dex/swap product for other projects who want to bridge in the future
Double-reward farms: we are launching next week double reward farms.
And here comes the most challenging aspect… we are working on moving on ADA and SOL but as you know these are other programming languages and mechanisms, so very complex. To solve that we partnered with a strategic team of developers.
I cannot say much as this is secret agreement but extremely powerful for us in order to bring innovation on the market
👨🏻🔬 Dr. Brian: They are in Rust, right? Few people know how to code in this language
👑 King Arthur: Rust Solana and Haskell Cardano
That’s why we have this partnership, i can only say some of them worked in the foundation at the early stage….
👨🏼🔬 Dr. Foley: 🔥🔥🔥🔥🔥
👨🏻🔬 Dr. Brian: Are you exploring/working towards on other chains than BSC?
👑 King Arthur: Yes we are moving in August into ETH V2 in order to leverage the London upgrade as well Ethereum is a very well known place for DeFi and with very strong investors. so it’s a strategic choice
Polygon also will most probably comes in August
then we plan Solana and Cardano but I cannot give a date as we are still prototyping smart contracts in Haskell and Rust
👨🏻🔬 Dr. Brian: You seem to have strong relationship with Autofarm. Can you tell us how do you work together?
👑 King Arthur: We have a partnership with them as they are listed on our pool search engine dashboard. We have some farms with Auto.
Also we keep a very strong relationship with Beefy and Wault.
Some additional to tier partners are planned in parallel for the incoming week, i cannot say the name but is one of the biggest.
Logically moving multi-chain will bring a lot of new partners
👨🏻🔬 Dr. Brian: on BSC ?
👑 King Arthur: yes is one of the biggest BSC projects
👨🏻🔬 Dr. Brian: 🔥 🔥
Can you drop your main links to know more on King Defi please?
Thank you very much
We will open the chan and allow our users to drop their question directly to you.
We will give them few times before answering.
🖌 Question: Do your bridge will be free?
👑 King Arthur: The bridge for KRW yes, only gas and network fees, the bridge implementation for other instead we will charge a small portion, as we supply our technology to projects that want to move multi-chain
🖌 Question: Will bridge users be able to provide liquidity and get rewarded for that as if they were suppliers to the bridge?
👑 King Arthur: The bridge will be like a swap bridge dex, so users get rewarded not from liquidity but from the fact that they can farm multi-chain and access a lot more diversified amount of farms.
🖌 Question: Will you do a double audit?
👑 King Arthur: not for the moment as current smart contract has 100% rate, so we prefer to not spend money for a second auditor as we don’t expect it will bring much value
🖌 Question: Would you select Perckshield for the second audit?
👑 King Arthur: No most probably Haechi or Consensys
🖌 Question: Do you plan to go on solana? The Smart contracts are in Rust and personally according to my knowledge it can not have error in the language, one of the most secure and square languages.
👑 King Arthur: yes we are we know is in Rust, for that we have a partnership with an external company, i cannot say the name as it’s quite a strategic one, but their developers are specialized in Rust and Haskell so we can bridge to ADA and SOL… some of them they worked for ADA foundation in the early 2018 developing their Haskell protocol
🖌 Question: And avax blockchain, no plan?
👑 King Arthur: Not for now, we normally plan one by one, ETH and Poly will be quick but SOL and ADA are already ambitious milestones.
🖌 Question: Farming and looking for rewards is a key point. For a new comer, unfamiliar to even a single chain, is it necessary to explain the mechanics or is it made transparent and kinda « 1 click » farming ?
👑 King Arthur: Our platform is quite easy to use, i think for people new to defi is more important to understand economics of deFi and all the financial concepts behind in order to not invest in projects that doesn’t master those finance concepts… that’s why we do bi-weekly CEO educational articles to help our users to learn defi mechanisms
Here one example on inflation management.
🖌 Question: Do you have a crosschain buyback mechanism to protect the KROWN token from sell pressure?
👑 King Arthur: we do a bridge so one token, multichain, one supply for multiple blockchains, that’s exactly how you completely avoid arbitrage…. buyback crosschain is bad practice, projects should just wait a bit and develop multi bridge in my opinion instead of rushing and then keeping buyback to manage demand/supply.
🖌 Question: could you develop the double reward farming? How is it decided ( user choice or dapp proposal)?
👑 King Arthur: is next week the launch, you find here some details regarding the program.
🖌 Question: will you limit the maximum crosschain amount for an address each week, month, day, or is it open?
👑 King Arthur: no limit when you want to swap you can swap is like a dex to move multi chain
🖌 Question: About the monitoring function of the various APR and APY on the different platforms, how fast the system is refreshing ? Basically DeFi is really fast but sometimes the display is quiet slow, how do you manage to optimize that aspect and make it the faster possible?
👑 King Arthur: every 3 second, we have a specific contract function for that, sometimes can take longer but this is due to network activity.
🖌 Question: About the AI, is it permanently changing or do you optimize it? I dont know how it works
👑 King Arthur: i’ll have to check with devs as, but i think is optimizing
🖌 Question: Will you be added on certikshield program ? If you are 100% ranked. It’s a +
👑 King Arthur: i never discuss with them to be added to the program, i’ll have to check in detail if it makes sense for us
👨🏻🔬 Dr. Brian: Well thank you very much @King_DeFi_Arthur for you time.
👑 King Arthur: thanks a lot for this great ama, if you want to know more feel free to visit, follow and join our great community 💪🚀
