Recap: NAMA Finance Internal AMA for the Community
👋👋 Thank you all for the great questions on Twitter and in the Telegram Community Group.
Congrats to the 10 winners and you will be sharing the $200 prize.
Let’s take a recap of the 10 questions:
From Twitter:
Question 1:
Can all types of NFT be used as collateral on the NAMA Platform? how would you assign a value to an NFT, so that we would get a fair value for the loan?
Answer:
NAMA solves the 2 most significant problems for the NFT market: Liquidity and Appraisal.
Liquidity: By providing the Borrowing-Lending pair loan platform, NAMA unlocks the most potential of the NFT assets value and solves the Liquidity problem of NFT.
Appraisal: With our unique AI-based Oracle, NAMA can provide NFT appraisal and loan risk assessment. Make sure we are safe, secure, and reliable, block out the scammers and cheaters.
Question 2:
As I know there are three types of user roles. Lenders, borrowers and liquidity providers, which one would you recommend to start using the NAMA Protocol? Which of these three roles is the one that has the best chance of generating more money on your platform?
Answer:
No matter which role, they are all very easy to start with in NAMA Protocol.
Anyone who has stable coins, can always be a Liquidity Provider to do yield farming.
Furthermore, you can also invest in any NFT you like and gain the interest + NAMA token reward on finishing the loan.
If you have NFTs and want to borrow some stablecoins, NAMA is the great place for you.
In a word, anyone can join the NAMA Protocol, easily.
Question3:
As a borrower, could I decide the loan duration and interest myself? Or will NAMA make the call someway?
Answer:
NAMA Protocol will provide a list of predefined loan duration options, for example 7 days, or 14 days, and more.
As a borrower, you can choose from this list and find the most suitable for you.
From Telegram Community Group:
Question 4:
Revenue is very important for any project for growth and development, What are the ways that generates profits/revenue to maintain your project and what is its revenue model? How can it make benefit win-win to both invester and your project?
Answer:
Our revenue will come from different sources: a management fee will be charged for borrowers/lenders when the load is successfully completed.
On the other hand, our AI based Oracle can be provided as an API service and it will generate a big revenue as well.
Question 5:
What gives the value to $NAMA ? What is the role of it in your ecosystem? What can users do in NAMA ecosystem with using $NAMA ?
Answer:
NAMA is trying to solve the 2 biggest problems of NFT: Liquidity and
Appraisal.
Liquidity: By providing the Borrowing-Lending pair loan platform, NAMA unlocks the most potential of the NFT assets value and solves the Liquidity problem of NFT.
Appraisal: With our unique AI-based Oracle, NAMA can provide NFT appraisal and loan risk assessment. Make sure we are safe, secure, and reliable, block out the scammers and cheaters.
Once these 2 questions begin to be addressed by NAMA Protocol, other projects in the NAMA Finance ecosystem will be bring up to the front and show their values.
$NAMA token will deeply join the NAMA ecosystem, for more details please see the related Medium articles.
Question 6:
Can I collateralize multiple NFTs at one time?
Answer:
Yes you can. you can have multi NFTs as a package, if they are more valuable in a package/group, you can apply for more money. But there will probably exist a max limit, you don’t want to package 500 NFTs in one go.
Question 7:
There are too many NFTs in the market, will you categorize them in the app?
Answer:
Yes there will be a categorized concept in the app UI. But it’s not ONLY about those big names like NBATopShot or Cryptopunks.
The app UI will be very smart, finding a balance between the big names and the great individual NFT as well.
Question 8:
What is the structure of this project, is it decentralised or a open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?
Answer:
We will public our source code, after have them audited.
Open-source it the key to make sure our project is transparent, clear and robust.
anyone want to contribute to the codebase , can contact NAMA team and maybe submit a PR later.
Governance is another thing separated with codebase, please check our DAO community plan on the website.
Question 9:
Why the loan amount start from a minimum 100?
Answer:
We really want to make sure the borrowers and lenders do make benefit from the loan process.
In the Ethereum main network you gonna pay the gas fee maybe $10–20 and that would make too much sense if your loan is only worth $ 20 dollars.
But, as we are going to supporting Layer2, it will become an issue, we may even lower the minimum to $10 in the near future!
Again, later on NAMA Protocol will have the DAO community approach, and all community member can vote for a minimum number they want!
Question 10:
What tokens does NAMA yield farming support for ?
Answer:
USDC, USDT, DAI will be the initial support stable coins.
The community can vote and decide what’s more to support in the future!
