Weekly-chat Recap -05/04/2020: Open the Wandora box

Veer Singh

Published in

Phoenix Finance

6 min readApr 16, 2020

Participants:

Boris Yang — @BorisYangFNX — FinNexus Founder & CEO

Ryan Tian — @rainiefield — FinNexus Financial Specialist

Question 1:

Adam Eve: Are you working on adding cross-chain options to Wandora that could use and get experience with Wanchain’s potential?

Boris Yang: Of course, we are currently designing it. We are looking at BTC or EOS option at this moment.

Adam Eve: Any indication as to when the first version of it can be expected?

Boris Yang: It is not decided now. We are trying to design a decentralized option mechanism maybe combined with stable coin. Do you think option is a strong need in Crypto?

Adam Eve: No i didnt mean ‘option’ as in option trading product. I did mean option as in possibility.

Wandora is probably a try out for you team to get experience and perhaps also first use-case for wanchain. It should contain that what makes wanchain unique: cross-chain. So your game needs cross-chain built in somehow. Are you planning/working on this?

Boris Yang: Option for finance product need to use cross-chain function.

Ryan Tian: Sure, cross-chain is what make Wanchain unique. We will surely collaborate with the cross functions in the applications. Firstly by stretching the cross-chain functions to other crypto assets in Wandora.

Adam Eve: Im not sure we understand each other :)

Will you add something with cross-chain to Wandora? For example if i predict with wan on wan-btc, and i win you payout in the other currency wbtc or just something else with cross-chain in this game :)

Professor K: I think we could expect something interesting like that in the future. Right now just want to work the kinks out a bit. Keep it simple and get lots of items on the punch list from stress testing it.

Boris Yang: Understand it now 😁. Now we have two plans for Defi products, one is improving on Wandora and another is create products such as options. Whatever cross-chain token will be used.

Question 2:

Victor: What’s the objective of wandora? Is it seen as a future part of FinNexus project? Or is it more like a side project, an experiment?

Ryan Tian: It is all connected and more like the baby form right now. We would like to test the network, coding, oracles and efficiency at early stages.

Question 3:

Arnold Larson: Yes. Do you know about cindicator? I don’t follow them now, but 1–2 years ago when they launched their project and were doing the same kind of predictions but for many crypto and stock markets.

Nagy Szabo: Yes, I have heard about them. Their point was that when you have predictions from let’s say 50000 people, you may be able to tell with a high accuracy what will happen

I am not saying you can do that.

Boris Yang: There were some prediction projects 2 years ago. It was hot direction for blockchain. I have to say Wandora is more like a option prototype. It is more simple than prediction model. We would appreciate if the community could take part and give us feedbacks on Wandora.

Ryan Tian: The predictions are not the goal of FinNexus. They are more like in the embryonic form or a trial. We will build something more upon that.

Question 4:

When do you plan to conduct the ICTO session?

Boris Yang: We are currently analysing the market conditions and are expecting it to be stable soon.

Question 5:

Roja Saja: How is prediction going to be related to the FinNexus product? We will have this in the latest phase of the product development?

Ryan Tian: Prediction is just a manifestation of the logics and models. If we make the time intervals into extremely short ones, the price will be somehow continuous. Anyway,it is always good to start something simple in the beginning.

Question 6:

Kate: Guys, please try to explain why wandora box is so important. I am sorry but I don’t get it. I don’t see the relation with what FinNexus aims to achieve. Maybe I don’t understand it.

Boris Yang: It is a predecessor more complex finance product design development and operation. We said we should make FinNexus launch-able. Defi product is a necessary way.

Ryan Tian: The former real-world tokenization is just one side of the FinNexus picture. The other half will be the decentralized model. Wandora is important not only because it is the first dapp built on Wanchain, but also it will be the seed for the future FinNexus more complex decentralized finance model.

The FinNexus protocol clusters will have two folds, the real-world tokenization protocols, connecting the legacy finance and blockchain; and the decentralized crypto-initiated protocols, where FNX will be much involved there.

Question 7:

Not Me: Will Wandora offer any other currency pairs in the future? Can new games be appeared? What is the marketing direction?

Ryan Tian: Sure, not only in the movement of currencies but also predictions.

Boris Yang: Of course more pairs and some from real world such as oil price.

Question 8:

Adam Eve: The question is do we need to play with Wbtc to predict Btc-Usdt, or can we also play with wan for Btc-Usdt prediction?

Ryan Tian: Wan is just an initial choice. There shall be something with a more stable value than that, working as stable coins. That’s also sth we are working on.

Just betting Wan on the moves is not our ‘ambition’:)

But we will start from it. It has been discussed a lot in our team. Whether to work on new stable coins by ourselves to develop a new eco, or simple use the most liquid ones on the market

Boris Yang: Of course we could play with Wan directly. But there is no using for cross-chain function.

Adam Eve: True, perhaps make playing or rewarding with wbtc or weth more attractive, for the extra effort :)

Question 9:

Victor: Are new functionalities scheduled for the next week? or the team is concentrating on collecting feedback at this moment?

Boris Yang: Collecting more feedback is the focus at the moment. New functions will not be released soon.

Question 10:

Henrique Silva: I did the first bet on wandora box and I won ,I bet 5 Wan Just for test and I won 7.5 Wan but if i loose the bet My 5 Wan would be gone so.. in this DApp is Not possible to win 2x??

Veer Singh: Hey Henrique, the rewards are based on number of people betting on either side.

For example: if a user bets 50 wan and other user 20 Wan. If the first person wins he gets 70wan(50+20), but if the second person wins he gets 40(20+20), 30 Wan will be refunded to the first person.

Sarah Huang: Thank you everyone for your participation. It is great to have free discussion with the community. Like always the weekly-chat recap will be posted for everyone who could not be part of the weekly-chat discussion. Thank you again!

About FinNexus

FinNexus is building an open finance protocol to power hybrid marketplaces that trade both decentralized and traditional financial products. The FNX token will live on the Wanchain blockchain to take advantage of the most robust cross-chain capabilities currently available in the industry. The first products FinNexus plans on releasing will be innovative tokenized assets with value based on real-world cash flows.