AMA Session with Leo from XCarnival
Guest : Leo, Core Contributor of XCarnival
Iris: Today, we’re honored to have Leo, Core Contributor of XCarnival, in our community to give us a more intuitive introduction to their unique project.
Leo, would you like to say hello and introduce yourself?
Leo: Hello everyone, I am Leo, a core contributor to XCarnival. I’m delighted to be here today.
Questions about the project:
Iris: What is XCarnival? Can you elaborate further?
Leo: XCarnival is a lending aggregator for Metaverse assets that offers innovative liquidation solutions for varieties of NFT and long-tail crypto assets. It is also a multi-chain protocol, currently launched on the Binance Smart Chain.
We are empowering metaverse assets by providing liquidity to the space through lending, ledging and mining.
Will tell you more details on our plans to empower Gamefi projects, NFTS and anything in the metaverse space.
The team is also synchronizing the platform’s backend to deploy it across Ethereum, Polygon and Solana.
XCarnival has two functional modules: XBroker and Megabox, solving NFT mortgage lending and Altcoin mortgage, respectively.
Iris: What triggers you to launch XCarnival? What are some of the real-world problems/ pain points that XCarnival aims to solve?
Leo: Actually all of our team believe Metaverse will be huge from last year
Then we did quite a lot of work figure out what is the necessary part of Metaverse and we interested in
Lending is an infsr but there are almost no mature solution on the market, coz NFT, the base of Metaverse , is not mature as well.
One day when I walk through a Carnival, I suddenly have an idea: If we can build up a carnival on blockchain that everyone can come in, enjoy the benefits of lending freely, will be awesome.
Then we decided to build XCarnival and name it.
There are currently three weaknesses in the market:
1、NFTs can not be used as collateral
Everybody knows that NFTs are amazing. NFTs are the key foundation for the Metaverse, however, currently almost no lending platforms treat NFTs as stable and valuable assets.
2、Huge value is locked in Altcoins but refused as collateral
New projects and new tokens are traded everyday. However, it is difficult for users to unlock the liquidity of these assets due to how users are averse to the risk evident in current lending platforms.
3. Lending industry develops fast but incumbent players are slow to catch up
Most current lending platforms are used to stabilize business models, with little reason to take big, innovative risks. Taking traditional funds into the cryptoworld is a safe direction, but people also need solutions flexible enough to fit changing trends.
Therefore, we have developed a strategy to target these weaknesses.
XCarnival’s products can be used for loans and pledges of various NFTs, including celebrity NFTs, virtual identities, financial NFTs and Royalty NFTs. Its third-party platform operation model can include the risks in each transaction, therefore avoiding systemic risks and bad debts.
With the rapid development of the NFT market, lending and pledging have huge potential for high growth and demand.
Iris: There are so many NFTs related projects now on the market. Would you please tell us what XCarnival’s unique selling points are as compared to other similar projects in the industry?
Leo: XCarnival believes that “everything is collateralized”, which is consistent with the development of the Metaverse. XCarnival is already cooperating with the Metaverse project to provide liquidity. For example, it will provide exclusive lending and pledge services for the NFT of the Metaverse project USM.
XCarnival has 4 main competitive advantages.
- Identifying changing market needs
XCarnival is an important development project for the Metaverse. XCarnival’s forward-thinking and pioneering developments have accommodated changing market needs, especially under the rampant growth and development of the Metaverse, attracting market attention and funds.
- Unique product design.
XCarnival’s pioneering time-limited auction clearing mechanism solves NFT and pricing liquidity issues. Separated mortgage rates reduce risks, which will enable the algorithmic mortgage stablecoin to be compatible with other cryptocurrencies. The design also includes multiple chains (BSC, Polygon, Solana, etc.) to make assets flow readily within the system.
- Positioning advantage:
It’s easily accessible with simple operations, encouraging a wider population to learn more about fields that might have previously been foreign to them, like NFT and Defi.
- Security advantage:
Security is of utmost importance. XBroker and Megaboox have passed the security audit of Certik — a world-renowned audit firm — uses the oracle Chainlink for the price feeds, as well as a self-developed oracle to ensure stable and diversified price sources.
Iris: What is the role of $XCV in XCarnival? Would you tell us more about its tokenomics?
Leo: XCV is XCarnival’s governance token.
let me show you a chart about tokenmoics.
XCV has many benefits, and there will be more as time passes.
Holders will be able to vote on key decisions for projects such as protocol parameters, rewards distribution, and the design of NFTs’ parameters. The governance function is scheduled to be implemented in Q1 of 2022.
XCV will capture platform economic benefits
There are multiple buyback mechanics to help XCV holders to capture protocol’s economic benefits.
XCV can be used in partner’s scenes
Right now many partnership between XCarnival and others projects are under discussion. XCV holders can use XCV token to participate other projects and earn extra benefits. XCarnival is an infrastructure protocol and will definitely build up a huge partnership network in NFT and Metaverse Industry.
Iris: Are there any exciting news or updates with regards to XCarnival that you would like to share with the users?
Leo: We have a lot of progress and updates, can’t wait to share with you all.
First of all, we’ve listed on centralized exchanges — MEXC and Gate on 19th Nov, making it easier for users to trade $XCV and to participate in activities on our platform and in our ecosystem.
Apart from listing, we are focusing on building the products and really serving the metaverse ecosystem. Therefore — we’re launching the GameFi IGO platform.
Iris: Super! Looking forward to the IGO platform 🔥
Leo: more details of this product will be released soon and add into our roadmap
We will also expand our pools and provide users with the opportunity to loan and pledge for high-profiled NFTs, such as the RACA NFTs and more.
Actually we have more big updates on product part, please forgive me can not share now because we want to give you guys a big surprise.
What I can say is XCarnival development is very fast and the only goal is to fit the fast development of NFT industry and Metaverse ecosystem.
Iris: You mentioned “IGO” .Could you tell us more about how it works?
Leo: Gamefi is so popular nowadays.
We believe the following months Gamefi gonna be crazy and the main market drive power
As a common practice, many Gamefi products sell their NFTs before the game launches. That means, users need to wait for a long time to play the game after they’ve obtained their Gamefi NFTs.
XCarnival will allow users to pledge Gamefi NFTs to borrow funds and mine XCVs, during the time they wait for the games to launch, so it is a win-win situation.
So we will provide a mystery box selling service to all Gamefi projects.
The Gamefi can receive extra fans and early supporters through XCarnival IGO, and the NFT holders can enjoy extra XCV rewards.
The benefits XCarinval receive from IGO will go back to XCV holders as well.
So we believe IGO
will be a successful product
Now there are 3 Gamefi have signed agreement with our team, and more is on the way
Iris: The XCarnival philosophy is Everything is Collateral, what do you mean by that?
Leo: Am glad you asked, this has a lot to do with our vision and mission.
We believe that the age of metaverse is coming, especially with the advent of NFTs that make property rights in the digital world possible.
And we also believe that everything is collateral, like you correctly pointed out. So under this backdrop — XCarnival’s mission is to become one of the indispensable infrastructures for the metaverse, and working towards unlocking more liquidity for the space through innovation.
Iris: If everything is collateral, how does XCarnival determine the risk associated with each potential piece of collateral?
Leo: This is a great question. We have a smartly-designed mechanism in place to prevent systematic risks.
Two core products we have — XBroker that deals with NFT liquidity, and Megabox that deals with altcoin liquidity, so each product works slightly differently in terms of risk management.
For XBroker — since it is peer to peer, the risk is basically contained within each transaction. Like mentioned earlier, if the borrower fails to pay back the loan, their NFT as collateral will enter the clearing process, to make sure the lender will get back the money or receive that collateral in return, in the end. We also warn our users and community members about the risks as borrower or lender, which is you might lose your NFTs if you can’t pay back the loan; and as a lender, you are facing the risks that you might end up buying the NFTs, so beware of the risks and don’t lend more money than you would buy for that piece of NFT.
Now for Megabox, it is a different story. We have the metrics that take into account the prices, volume and circulation of each altcoin, and come up with the collateral ratio that could accommodate market movements; also we have different ceilings for different altcoins when it comes to borrowing, and all the altcoins are functioning in separate pools, which means, even if one altcoin has bad-debt issues or default, it won’t impact the whole pool, so that we could prevent systematic risks.
Iris: If you were to summarize your project in ONE word, what would it be? Why?
Because — we are empowering the metaverse space as an indispensable infrastructure, and we are working very hard for that mission.
As I said earlier, we believe Gamefi is a key driving force for metaverse at this stage, so we are working with Gamefi projects now to provide more services for them, as a way of empowerment.
Q1. Does your great project support staking program? If yes. how is your stake system work, what is the requirement for user if they want to stake in your platform?
Yes we support staking! Right now Babyswap provide a LP staking pool to mine $Baby. We have our own staking function on the way, you can earn extra rewards as our loyal holder.
Q2. Many new projects make a good impression at first but are suddenly abandoned. My question is, how will you manage the project and the token to get a position in the market and become the best token in the crypto world?
very good question. Actually many new projects’ goal is MONEY instead of do some meaningful in the long run. XCarinval team has mission and want to do something big.
We believe if our product can grow up with the industry, keeping improve and fit the requirement. XCarinval will become one of the most influencing and useful infs in Metaverse. The price of XCV will go up as a result.
Q3. Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?
We are an international project coz our team based globally, Australia, Korea, U.S., China. Recently we focused on Asia market but we are planning to extend Europe and America market in next step.
Q4. plz🌹 answer my questionNFTs is hot trending now,. Do you have a play to have NFTs in your platform/If so?. can you tell us -yhe plans of your project in NFTs.??
We have our own NFTs for sure. We’ve sold 10,000 mystry NFT boxes last month in very short time. I have to told you ALL these supporters, no matter the lowest N card or highest SSR card holders, earn quite a lot with XCV mining rewards.
Even the first round of airdrop card, each ppl can mine over 60 dollars.
MEXC trading: https://t.me/MEXCTradeofficial