MEXC Global
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MEXC Global

AMA Session with Paul from Conversation

Guest : Paul, Conversation’s Product director

Host: Iris

Introduction:

Iris: Today, we’re honored to have Paul, Conversation’s Product director, in our community to give us a more intuitive introduction to their unique project.

Paul, would you like to say hello and introduce yourself?

Paul: I was Senior Technical Expert of Alibaba. Also was the first-line architect of decentralized exchange with 10-year program development experience.

Follow us:

Website (English) : https://coinversation.io/

Github: https://github.com/Coinversation

Medium: https://coinversationofficial.medium.com/

Telegram: https://t.me/coinversationofficial

Telegram Announcements: https://t.me/coinversation_announce

Twitter: https://twitter.com/Coinversation

KACO Finance: KACO website: https://kaco.finance

KACO DOC: https://coinversationprotocol.gitbook.io/kaco-doc/

Twitter: https://twitter.com/KacOFinance

Questions from community:

Q1

Iris: What is Coinversation? Can you share with us more in detail?

Paul: Coinversation Protocol is the first DEFI2.0 + NFT protocol platform of Polkadot Ecology. It has been expanded from a synthetic asset protocol to a derivative and NFT ecosystem including parachains, synthetic asset, DEX and various NFT protocols.

At the same time, Coinversation officially took the first step in the Polkadot Parachain Auction.

Here is a part of system workflow of Coinversation.

Coinversation has been preparing for the Polkadot auction for a long time, and has undergone a comprehensive upgrade after the Polkadot confirmed the auction time. Prior to the official announcement of the upgrade, Coinversation had completed the deployment of the EVM version Dapp Kaco on BSC and Kusama, with Dex attracting tens of millions of dollars in Polkadot ecosystem assets. Also completed the asset cross-chain from BSC to Kusama.

Of course, Coinversation has accumulated a large number of high-quality partners both inside and outside the ecology. Including Chainlink, Patract, Astar, Shiden, Mathchain, Anyswap and more.

Q2

Iris: What triggers you to launch Coinversation? What are some of the real-world problems/ pain points that Coinversation aims to solve?

Paul: That’s a long story!

The early Defi project appeared about four or five years ago. Today, about 90% of the DeFi are still in Ethereum. Since June last year, the market has been soaring wildly. The average rate of return of the whole market is conservatively estimated to be 300 times. It is because the market has accumulated about two or three years before such a big outbreak. So far, I think Defi has completed the first phase.

Then, what are the opportunities left to the users and the market? I think it’s an innovative concept, which also affects several centralized exchanges: liquidity mining and stacking. Users can charge their assets into a liquidity pool to get income. The choice of liquidity pool is different, and the income is also different. It’s diversify. Users want to invest their assets in different ecosystems, and each ecosystem has a relatively appropriate value return and risk to bear.

In this way, everyone can find a place to realize their needs in a certain link of the whole Defi ecological chain. And because all business logic and assets are on the chain, they are verifiable. One of the most important reasons for Defi is that the users can verify whether the product is the same as what they think, so they believe in it and would like to use it.

Ethereum is developing, but it also has many limitations of Layer1, such as performance limitations and gas fees, so there will be some other ecological opportunities. For example, we talked about Polkadot today. What’s interesting about Polkadot is, first of all, it is an updated technology. Some of its concepts are different in the design of a low level of the smart contract. It will be more suitable for a certain independent type of business or project.

Secondly, I think it is a cleaner ecology and market. Therefore, we don’t have to worry about all kinds of stakeholders and all kinds of resources coming in to do a lot of risky things.

That’a why we decide to do Coinversation on Polkadot.

Q3

Iris: What is the role of $CTO in Coinversation? Would you tell us more about its tokenomics?

Paul: $CTO is the governance token of Coinversation. After Coinversation win a slot on auction, Users can use $CTO to create and vote on governance proposals. By doing so, the user directly influences the direction and characteristics of a protocol. You can change the user interface, how a DEX distributes fees, what dev funds are used for, and all other vital questions. They can also stake $CTO to earn money by yield farming.

About the tokenomics:

  • 7.2% to token sale
  • 15% to team
  • 15% to Foundation
  • 22.5% for Auction Rewards
  • 40.3% for Ecosystem Development

or this pic is much better to understand:

So there are 62.8% $CTO token will be minted after we win a slot of auction

Before that, basically the maximum supply should be 37.2%

Also, Coinversation no inflation, hardcap is 100 million.

Q4

Iris: Are there any exciting news or updates with regards to Coinversation that you would like to share with the users?

Paul: There will be two aspects of the update. One is about the listing and the other one is about the Polkadot parachain auction.

For the listing, we will list on more exchanges soon, including the DEX and CEX. The next dex should be Uniswap. We are planning to provide liquidity on Uniswap soon. Also, we have already integrated with Anyswap. Users can bridge $CTO form Ethereum to BSC via Anyswap. At that time, we will also launch the liquidity mining on Pancake or our EVM version Dapp, Kaco Finance.

For the parachain auction, we have been paying close attention to slot auctions. The Polkadot parachain slot auction has been in our plans. We will announce the details of our parachain slot auction when Polkadot auctions the second and third slots. As I have said before, Coinversation’s EVM version Dapp has deployed Dex and NFT fragmentation protocols on Shiden and BSC. Coinversation will continue to exert its power in the direction of NFT + DeFi.

Beside the above aspects, our evm dapp, Kaco also will have an exciting update. Kaco will launch a series of NFT which called Tarsiers. You can visit our website and mint by yourself after the announcement. You can choose to trade Tarsier on Kaco NFT Market, Treasureland or any platform that supports BEP-721.

At the same time, the Kaco NFT trading market will establish a new KNFT and KAC trading pool for Tarsier, which is different from the kkac&kac pool. You can check the image of NFT here now: https://karsier.kaco.finance/

Q5

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

Paul: I will say Defi 2.0.

Coinversation Protocol is a stable currency protocol based on interest-bearing assets based on the parachain of Polkadot. Users can use different currencies such as CTO and DOT to synthesize CUSD through smart contracts and oracle. Users can cast CUSD by staking tokens that can generate interest.

Bridging USDT, USDC and BUSD to the CTO network to form the largest stable currency exchange platform in the Polkadot ecosystem. We will open the interface to facilitate all parachain to access our stable currency exchange system, so that all chain users can seamlessly use Polkadot’s bridging protocol.

Q6

Iris: What stage is Coinversation at? Any product live now?

Paul: The Coinversation Protocol team has been established for more than a year. This year, the team members have worked together to complete the synthetic asset protocol, determine the data source of the synthetic asset, establish a whitelist mechanism, complete the oracle function, and launch the EVM version Dapp Kaco Finance. KACO is the first NFT fragmentation protocol on BSC. It is also a DEX which aim to bridge the asset between BSC and Kusama. Next, Coinversation will continue to pay more effort in the direction of DEFI 2.0

As I mentioned before, Kaco is the EVM version of Dapp of Coinversation. You can try the function of NFT fragmentation on KACO on BSC now.

So what is NFT fragmentation?

That means users can mint their NFT we supported to the kNFT token. We will create the LP with the kNFT token and other currency. After the liquidity launch, the NFT holders can sell their kNFT token to other currencies, such as USDT, BUSD, etc. KACO hopes to solve the liquidity problem in the NFT space.

You can try our function on KACO first. Here is the link to KACO: https://www.kaco.finance/

Free-asking Session

Q1. Can you briefly describe your PARTNERSHIP so far and upcoming partnerships?

Paul:

As I mentioned before, Coinversation has accumulated a large number of high-quality partners both inside and outside the ecology. Including Chainlink, Patract, Astar, Shiden, Mathchain, Anyswap and more. You can check this pic to know more about our partners

Q2. Where i can get all the latest news about ? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?

Paul:

You can follow our Twitter for the latest update. The following are our social media link:

Website (English) : https://coinversation.io/

Github: https://github.com/Coinversation

Medium: https://coinversationofficial.medium.com/

Telegram: https://t.me/coinversationofficial

Telegram Announcements: https://t.me/coinversation_announce

Twitter: https://twitter.com/Coinversation

KACO Finance: KACO website: https://kaco.finance

KACO DOC: https://coinversationprotocol.gitbook.io/kaco-doc/

Twitter: https://twitter.com/KacOFinance

Q3. Can you share some Details about Recent Major Achievements done by your project? Also, what are the Future Roadmap & Targets of your project?

Paul:

The following is our next roadmap plan:

2021 Q4

(1) Complete the parachain auction.

(2) Complete the stable currency exchange system.

(3) Complete the function of the oracle.

(4) realize the mortgage DOT and CTO and other interest-bearing assets to complete cross-chain interest-bearing.

(5) Complete liquidity mining.

(6) Complete the deployment and development of parachain and asset transfer.

2022 Q1

(1) Integrate more parachains to help users realize cross-chain interest generation.

(2) Integrate more oracle to improve the stability of the whole liquidation module and Minting module.

(3) integrated NFT forging center, helps users use NFT to earn interest.

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Founded in 2018, MEXC Global is a centralized exchange that employs a high-performance mega-transaction matching technology. The CEX platform is run by a team of professionals with extensive financial industries and blockchain technology experience.

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MEXC Global

MEXC Global

Founded in 2018, MEXC Global is a centralized exchange that employs a high-performance mega-transaction matching technology. Visit us at https://www.mexc.com/

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