Hifi AMA February 25, 2021
During this Ask Me Anything (AMA) session, Doug takes questions directly from the community. He covers anything from the Hifi Lending Protocol to token swaps.
What’s the plan for a token swap?
How should I prepare for a token swap?
What’s the plan for the token economics?
We are pulling from Synthetix, Maker DAO, and AAVE’s playbook.
What will the utility of the new token be?
The token utility will likely be similar to AAVE, Synthetix, and Maker Dao.
How long will the public beta last?
Until the next version of the protocol is live.
How many financials advisors does Hifi have?
We have what we need at this point and will grow as needed.
Why did you stop liquidity rewards on Uniswap and Balancer?
If you have been participating in these rewards, you don’t need our subsidies anymore.
Will there be a token burn?
Would you consider switching to a blockchain other than Ethereum?
We will go where the users are.
How does Sablier play into the Hifi ecosystem?
There are a lot of things we’d like to do with Sablier, but just use your imagination for now.
Will there be a Sablier token?
What’s going on with Genesis Block?
We’ll let them answer for themselves.
Will there be a partnership with Genesis Block?
We are owned by the same people, so our interests are aligned.
Are you working toward a mobile friendly version of the Hifi Lending Protocol?
Are you going to release explanation videos about the Hifi Lending Protocol?
Yes, we already have this scheduled.
When will we see the Guarantor pool?
When it’s in a state that serves our users.
Why aren’t you focusing more on marketing?
Our focus is on building and shipping a usable product.
How often will you hold AMAs?
We’ll hold an AMA around any milestone or when the community would like one.
What does a rough timeline for the roadmap look like?
How can we volunteer?
Go participate in our Discord.
What is the plan for Hifi?
When will the Hummingbot rewards stop?
We renew with them every 3 months, so it will stop whenever it doesn’t make sense to renew again.
How will the next launch be different than the public beta?
What is the bug bounty program?
For now, if you can steal the money from the protocol, I’ll give you $SOCKS.
How does the development team split up their work?
We split up the work based on feature set.
Do you think fixed-rate lending will be attractive in DeFi?
Fixed-rate lending will be something that everyone uses.
How should LPs handle the token swap?
Exit your position, convert your tokens, and reposition yourself as an LP.
When will you do the token swap?
What are some weaknesses of AAVE and Synthetix?
I don’t jump to the weaknesses, I jump to the strengths. These protocols are incredible.
