Monthly Community AMA Recap (December 12, 2020)
In our efforts to be better connected with our community, we have been holding AMAs within our community. Asking insightful questions every AMA, the community this time around had some focus around our development progress and our ecosystem. As always, we truly enjoyed our time engaging with the community, and answering the burning questions in everyone’s minds.
Starting this month, it will be a monthly AMA set for the second week of every month.
The following is a recap of the AMA with a few highlighted questions, edited for clarity.
Q. Is there a development roadmap that is being worked towards? What is the current sprint/item being worked on by the team?
A. Since we have several teams within OIN, OINSWAP and OIN Bond are high priority at the moment. We need to figure out what OIN Bond will look like (not just the aesthetics), and on the development of OINSWAP.
We don’t have an updated roadmap that’s public, but once we get a few more of the gritty details surrounding OIN Bond nailed down, we’re hoping to release.
Q. I saw Frontier joining the OINDAO. Can I look forward to hearing from other partner collaborators?
A. Of course you can look forward to more joining OINDAO. Remember, other projects joining is not just good for the joining project, it’s good for OIN as well.
Our whole product line isn’t just laser-focused on us, but it’s the crypto community as a whole. We want to empower other projects. By doing so, we’re fulfilling what we set out to do, increasing our reach, getting our name out there, and bringing more focus on DeFi and its features.
Q. How did OIN build an ecosystem of users, partners, and content creators, bringing best-in-class digital services?
A. We’ve built out (released product, and planned products) and are planning for a holistic, healthy environment that can empower non-DeFi projects with DeFi functionality. We want to bring traditional financial instruments/functions to the crypto community. We’re building out a healthy, long-lasting ecosystem.
This is done through considering each value stream and ensuring that value is not only extracted at each step, but adds at each step as well. For example, even just OINDAO adds value to the user by allowing the leveraging of your favorite tokens, providing an easy reward platform, and a way to manage all these. For the project, it allows them to create a reward scheme if they didn’t have before, and providing an easy on-ramp to their own stablecoin. They can turn around and use these to their liking, and create use cases for their project, e.g. in-ecosystem payments.
Content creators will have lots to talk about when we achieve these things. Our soon to be released products will have synergies between them that is brand-new to the industry. Our products will be new to the industry. They will not only serve one specific purpose, such as a project only serving one need in an existing market, but we’re bringing about a portfolio of ideas, solutions, and features to the market as a whole. Once we start seeing the synergies take place, and once we get more organic growth in our company not only in marketing but also in usage, content creators are free to speculate, comment, and touch on the changing environment. :) we’re also always free to contact.
Q. How is the OIN token affected by STPT, Frontier, etc. joining OINDAO? What is my benefit?
A. This has been referred to before. “Remember, other projects joining is not just good for the joining project, it’s good for OIN as well. It’s free marketing at the very least, but moreso we’re looking at fees from their redemptions going to OIN (for the foundation as well as community), and bringing a livelier project itself.”
But to expand, that’s essentially what we’re here to do. Imagine if we didn’t have other projects join. If OINDAO was ONLY OIN, you could ONLY stake oin and earn OIN, what would be its use? You’re earning the token to only hold? Sell? It doesn’t offer much as a platform.
By becoming the go-to stablecoin minting service, becoming the go-to staking and leveraging service, we’re offering the crypto community a much needed service. We’re getting our name out there, and the foundation and the community is collecting fees. We’re also releasing other products, and with our name out there and users on OINDAO, their launches will be better, use cases much more diverse, and a platform that offers more than just a simple one project with one feature.
Q. Currently most investors only care about profits at the moment but ignore the long-term benefits. So can you give them some advice why they should buy and hold this token/coin in the long term??
A. Yeah that’s a tricky one. I personally have an investment background, and know a bit about the industry. One thing that’s certain is that people have their own unique investment profiles and preferences. For example, some investors will ONLY think about the short term. This doesn’t mean they’re wrong, it’s just their way of doing things, and in many cases the best course of action for that particular person.
For those who are interested in OIN however, we have a lot of great things coming that points to long-term growth. We’d definitely be classified as a value pick at the moment. We’ve time and time again said that our suite of products will offer synergies, use cases, and bring DeFi to the crypto community as a whole. Now how far along in that process have we got? Yes, we’ve seen a lot of progress in just a few short months in releasing a working product with several projects joining the platform (OINDAO), but we still have quite a ways to go in terms of our full lineup of services.
If our project will offer lots of synergies, how can we judge the value of OIN by looking at only the current snapshot where we’ve only recently released ONE product?
Our project even just in its current form, I feel offers great value. It may not be reflected in the way many of you wish, but we’re working on bringing more projects on board, we’ve got some great organic growth in marketing and users coming, and our working hours will not slow down. Lots of great things are coming, and we’re excited to see our community take part in our platform
Q. When updated roadmap will be released.?
A. The roadmap is undergoing an update, and is subject to change at this time. This is due to the inclusion of OIN Bond, as its release schedule is still not 100% sure. We should have one quite soon though, so we’re hoping it will go live with the updated website! :)
Q. A month ago, you said development of OINSWAP is 70–75% ready, is there any update on it.?
A. We’re on track for OINSWAP, and we expect a Q1 release, latest early Q2.
Q. What are the plans to educate and raise awareness and adoption among the community to make more people understand about the project easily??
A. That’s where the organic marketing comes in, and what our aim is. We’re looking at content pieces from our side, as well as speaking with journalists/KOLs to have a more organic outreach. For example, I had a call recently with the president of a well known news network/youtube channel, and they’ll be speaking about us and our ideas. We’re still talking to each other on how to frame our values, what ideas they want to talk about, etc., but it will be truly organic pieces, which we’re excited about.
About OIN Finance
OIN is a cross-chain layer 2 infrastructure that opens the door for all the blockchain assets to leverage the growing DeFi space. Starting with OINDAO, users can leverage their assets to create their own stablecoin, allowing new use cases and methods of incentive distributions. OIN will build the bridge technology to seamlessly integrate Ethereum and others to start into its ecosystem, opening up to all of the current DeFi space, leveraging their assets and providing yield stacking, mining pools, and more. The dedication to this end is reflected in a three-pronged mission: become the gateway into DeFi, promote the DeFi industry, and grow the DeFi Space to maturity.
To keep updated on our progress, follow OIN Finance at:
Homepage | Medium | Twitter | Telegram | GitHub | E-mail
