AMA Satoshi Club x Radar, October 20th
We were delighted to welcome our guest from Rada. The AMA took place on October 20th, 2021 and our guest was Dragoslav Kotorac
The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
Gold Rocket | Satoshi Club: Greetings dear Satoshi Club
We are pleased to announce AMA with Radar.
Paul Mont | Satoshi Club: Today’s guest is @dragosL! Welcome! Great to have you here!
Dragos | Radar: Greetings everyone! Really happy to be here again!
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club
Dragos | Radar: We will have a great time together
Gold Rocket | Satoshi Club: We are really excited about upcoming AMA
Paul Mont | Satoshi Club: Thank you for coming back!
Paul Mont | Satoshi Club: How’s your day been so far?
Gold Rocket | Satoshi Club: Let’s start! Introduce yourself please. How did you get to be involved in crypto & Radar
Tell us please about your position in Radar
Dragos | Radar: Pretty chaotic as always, I’ve been sleeping around 2–4 hours max for the past 2 months so yeah everything is really busy
Dragos | Radar: But the excitement is too big for this to be a problem
Gold Rocket | Satoshi Club: oh … you have a difficult schedule
Dragos | Radar: Sure! I’ve been a crypto trader for about 8 years now. Around 2 years ago I founded Orka Labs, which is an algorithmic trading fund, and after a while of looking for a complete solution for traders we decided to take the matter into our own hands and build the product that we dreamt of using.
Now I am the CEO of Radar, our team is comprised of about 45 people at the moment. 25 full-time developers + 20 administrative staff. I’m sorry that it’s only me here today but the team is working very hard in order to launch the first product on the 31st this month!
Dragos | Radar: hopefully you will understand why after this AMA
Gold Rocket | Satoshi Club: Great background
Gold Rocket | Satoshi Club: Give us a brief introduction to the project. What is the essence of Radar
Dragos | Radar: Definitely, so Radar is a self sustaining ecosystem, providing its user everything the need, ranging from a platform that is built using a cross-chain solution that combines a regular asset management platform with complete freedom through the power of DeFi and cross-chain interoperability to the DEX Aggregator that will route decentralized swaps through different protocols and chains, in order to minimize slippage and maximize efficiency; alongside the native Mobile App, where users can store assets on most EVM supported blockchains and have access to the ecosystem’s platforms.
And this is not everything, we have lots of secret features to announce in the following weeks, as we plan to continuously expand the ecosystem.
p.s. all the products that you will read about in the whitepaper are about 85% complete besides the asset management app which is 100% and is going to be launched on the 31st this month!
Gold Rocket | Satoshi Club: Sounds really good
Gold Rocket | Satoshi Club: Also we would like to know more about your team. Who is on the project team core?
Paul Mont | Satoshi Club: 31st of this month — it’s almost there!
I understand your excitement clearly
Gold Rocket | Satoshi Club: you intrigued us
Paul Mont | Satoshi Club: Hopefully you will disclose some easter egg throughout the AMA with our Satoshi Club community… We love secrets haha
Dragos | Radar: We have a detailed announcement about that coming. We are actually continuously hiring so around the time of the platform launch we just want to explain everything to the community, what each member of the team does and so on, because as I told you we are about 45 people now working full time on this
Dragos | Radar: And more than half of these 45 people work full time by crypto standards, which is basically 2x the normal amount
Gold Rocket | Satoshi Club: Dream team in action
Dragos | Radar: I will be looking to do that, but keep in mind that most of my answers if not all will be written on the go so yeah, don’t know the exact moment when I’ll do that
Paul Mont | Satoshi Club: And by the way, the core team members are all public right?
Gold Rocket | Satoshi Club: Thanks for great introduction, we have several questions which were selected for the 1st part. Ready to start?
Paul Mont | Satoshi Club: That’s more than enough!
Dragos | Radar: Yes definitely
Dragos | Radar: Let’s go ahead, very excited for it!
Q1 from Telegram User @yellowchamp
According to your website, Radar will have over 15 protocols in which you grant a direct access to the DeFi economy through your integrations and we can invest and start earning automated returns by providing liquidity, lending, insurance and trading. So, in connection with this can you give a brief explanation about this 15 protocols that you are going to deploy in your platform? Why do you need such a lot numbers of protocol?What will be the advantages that those protocols brings to your network and to users? Lastly, how does automated returns function in your platform through providing liquidity, lending, insurance and trading? As what I have notice that lending, insurance and trading will be coming soon with radar, so can you share some little information and overview about your lending, insurance and trading features? With investing in your lending, insurance and trading, how it would give a better automated returns? Thank you
Dragos | Radar: I will explain everything but you will have to give me 2–3 minutes to write it all, hope you understand
Paul Mont | Satoshi Club: Take your time please
Dragos | Radar: As you’ve seen we will integrate over 15 protocols, so what exactly do we mean by that?
Our asset management app will enable anyone to create his own vault and manage the assets of other people who deposit funds into it.
Our job as platform is to make sure that the Manager (the person who is managing the assets) has access to as many protocols as possible so that he can create any type of investment strategy that he wants.
Let me just quickly give you some examples: Lending — Compound , Yield farming — Idle, Yearn
So yeah this is what we mean by integrating protocols, I hope you get the idea.
Paul Mont | Satoshi Club: Crystal clear
Gold Rocket | Satoshi Club: these are really revolutionary ideas!
Dragos | Radar: As for this part “As what I have notice that lending, insurance and trading will be coming soon with radar, so can you share some little information and overview about your lending, insurance and trading features? With investing in your lending, insurance and trading, how it would give a better automated returns? Thank you”
I believe the number of investment options is directly proportional to the chances of succeeding for Managers.
If you compare us to a platform like dhedge.org, we are basically the same, but you can only TRADE SYNTHS on their platform. With you you can do this as well, besides trading on any DEX, yield farming, lending, etc.
Dragos | Radar: And please keep in mind that this is just the first product from our ecosystem that we are about to launch on the 31st
Dragos | Radar: We will continue to launch a product/month for the next 5 months at least, we have a lot in store for you guys
Paul Mont | Satoshi Club: So that means 5 new products (at least) are in the works for the Radar ecosystem users, right?
Dragos | Radar: Just got the idea for the easter egg, I will share one screen from 3 of our products so you can get a real feel of how we work and how serious we are about this ecosystem.
Gold Rocket | Satoshi Club: Satoshi Clubbers! Don’t miss great opportunity
Dragos | Radar: 3 are 90% complete, the 4th is about 60% complete
Dragos | Radar: And there are a lot of unannounced products, the token utility is till unannounced
Dragos | Radar: And trust me this is the best part of the whole project, the token utility is something that I’m sure you’ve never seen before!
Paul Mont | Satoshi Club: Ok, I’m definitely hyped and wanting to know more now
Paul Mont | Satoshi Club: Which of the products down the upcoming roadmap are you most excited about (without spoliling too much of the surprise right now)?
Gold Rocket | Satoshi Club: we look forward to the snack peack
Gold Rocket | Satoshi Club: Thanks for your great answers
Gold Rocket | Satoshi Club: Ready to proceed to the next question?
Dragos | Radar: Sure!
Q2 from Telegram User @Pavel_Jarosh
One more great initiative is POR (proof-of-return). Radar puts asset allocators in touch with asset managers to maximize the growth of their portfolio with a higher chance compared to their own efforts. These asset managers are considered to work as consultants for Radar? Besides the rewarding system based on the results of investments what are the advantages for managers to be interested in working with Radar users? Can a simple Radar token holder become asset manager with time in case his/her activity is high? Thank you!
Dragos | Radar: I am happy to explain anything about the project, it’s what I’ve been breathing for the past months so I’m very exicted about what’s coming
Gold Rocket | Satoshi Club: we understand this and support your excitement
Dragos | Radar: Any user can become an asset manager (i.e. create a vault) on our platform. The POR is just our way of trying to protect the end user from malicious managers, because some of them will be KYCd (it will be optional in order to get a “Verified” checkmark), but as you know with a 100% decentralized and perimissionless system we can’t control everything so yeah, just doing our best with the tools we got.
Dragos | Radar: Depending on a few metrics you will be assigned a Trust Score(for example how many of your own assets you have in your own vault, because obviously if you have your own funds on the line you will act in good faith)
Dragos | Radar: Remember that we still have to announce a lot of details, what I’m telling you now is probably not on the whitepaper or anywhere actually
Gold Rocket | Satoshi Club: Thank you very much for sharing
Gold Rocket | Satoshi Club: Do you want to add something or we can proceed to the next question?
Dragos | Radar: We can proceed to the next question, thank you!
Paul Mont | Satoshi Club: Here it comes
Q3 from Telegram User @MasterfulAstil
As I’m not a pro in crypto, AAС (Auto-allocated capital) feature attracted me as an option of easy and quick possibility to invest my money. I understand that Radar protocol will decide for me where exactly to invest depending on my preferences. But as a creators, could you share on where will the funds go? Is there any preferred direction, vault for financing? Thank you!
Dragos | Radar: Radar will be a 100% decentralized and permissionless ecosystem. In about 1–2 months max. from now we will pass the governance to the DAO. (We already passed all the team tokens to the DAO wallet)
Radar itself doesen’t decide anything for you, instead it aims to give you all the necessary tools so that you can make an informed decision by yourself. (This is where PoR and other unique features come in)
The creators actually don’t have an option to hide their activities as technically speaking each Fund is a smart contract and EVERYTHING is recorded on the blockchain so there is 100% transparency regarding everything.
Dragos | Radar: If any of my answers are not enough, I will be eagerly waiting for you on the video AMA after this one to explain in more detail, way easier to do on video compared to writing. Thank you for understanding
Gold Rocket | Satoshi Club: which features are you personally most proud of
Paul Mont | Satoshi Club: It’s very empowering. Information is key to make the best decision, in any field, after all
Dragos | Radar: The token utility is definitely the feature that I am most proud of, you will soon find out what I am talking about.
A LOT of time and resources went into creating this system
Gold Rocket | Satoshi Club: you just intrigue us more and more
Paul Mont | Satoshi Club: Again — guys & girls, don’t miss out on the opportunity to follow up, after this AMA, with Radar’s video AMA
Dragos | Radar: let me just share 3 screens, have a look and we will continue afterwards
Dragos | Radar: Mobile App
Gold Rocket | Satoshi Club: wow!
Dragos | Radar: ALA — Liquidity Aggregator
Dragos | Radar: This is the product that we are launching on the 31st this month
Paul Mont | Satoshi Club: Slick! Love the UI
Dragos | Radar: There you have your easter eggs everyone!
Gold Rocket | Satoshi Club: it looks incredible
Gold Rocket | Satoshi Club: No wonder we were so intrigued
Dragos | Radar: And again wait to see the token utility
It’s going to give you a lot of perks on the WHOLE ecosystem
Paul Mont | Satoshi Club: The premises look amazing!
Dragos | Radar: Thank you, appreciate it guys!
Paul Mont | Satoshi Club: Thank you very much for the exciting answers!
Paul Mont | Satoshi Club: Are you ready for the next question?
Dragos | Radar: yes let’s go ahead
Q4 from Telegram User @JaviSuBs
Radar has a wallet in a mobile application, but is there a PC version of the wallet? What does the Radar mobile application allow us to do to users? allows us to make exchanges through ALA and use other dApps? I also see that there are two important functions in your platform such as radar protocol and radar terminal, what is the functionality of these functions? You can give us more details of the functions to better understand and get the best out of it, thank you
Dragos | Radar: I cannot answer the question related to the PC version, but I will let you to think about the answer and it’s probably what you’re thinking about, but again we want to take everything step by step. Our current product launches by themselves require titanic work so with only 45 people there is only this much we can do at one point
Regarding naming Radar is our main brand and then we will have Radar Protocol — Asset management app, Radar Terminal — Liquidity Aggregator, Radar App — native mobile app
To get a better understanding you really have to read the whitepaper:
Dragos | Radar: And yes through the mobile app you will have direct access to all the products in the ecosystem AND you will also have a browser so that you can access other dapps if you still need them
Gold Rocket | Satoshi Club: Of course, step by step …
Gold Rocket | Satoshi Club: It will be very convenient for users.
Gold Rocket | Satoshi Club: By the way, please share your roadmap with us.
Dragos | Radar: Our goal is to make everything so convenient to use through our ecosystem that you won’t want to switch to other 10 apps that do the same thing
Paul Mont | Satoshi Club A true one-stop-shop for managing your assets. Great value proposition @dragosL
Gold Rocket | Satoshi Club: Yes, you are one of the few projects that thinks through all the details.
Dragos | Radar: We only have a roadmap for this quarter where we will launch all the products that I told you about and if everything goes according to plan, the 4th one as well. Just don’t want to promise things which we can’t deliver.
Everything you’ve seen and everything that I talked about up until this point will be ready until EOY
Gold Rocket | Satoshi Club: Thanks a lot for the answers
Paul Mont | Satoshi Club: And a very grounded approach, in terms of not overpromising, while still trying to do the best to overdeliver
Dragos | Radar: After the first 3 launches we will just release the whole vision for the project and a 2-year roadmap. Until then I think it would just sound ridiculous and noone would believe us so I want us to deliver first and talk afterwards
Dragos | Radar: As I told you everything is planned out for the next year at least, just want to stay realistic and go through the milestones one by one.
Gold Rocket | Satoshi Club: Absolutely agree
Gold Rocket | Satoshi Club: Are you ready for the next question?
Dragos | Radar: yes
Q5 from Telegram User @Ask4Unik
Radar is accepting 1% for those who wants to withdraw their yield before it matures and 17% APR thereby attracting investors.Is that your strategy?.I also noticed that RADAR funds will be used to market buy RADAR and distribute, as 75%goes to burn and 25% for extra RADAR LP rewards.All of this is subject to vote depending on community voting in the future.Supposing the voting rate is higher in the future will RADAR rise in value?when the yields are matured and an investor wants to withdraw from his wallet, are there withdrawal options an investor can consider?
Dragos | Radar: These are 2 separate things. The APR is about our staking program, which currently has no strings attached, you can stake and unstake anytime.
And the 1% exit fee happens when you withdraw your assets from a vault. Depending on a few things you could be eligible to have 0% fee. As I said details about token utlity will be announced very soon so stay tuned for that.
The DAO will decide everything in the future and will have the ultimate word in any important decision about Radar. We won’t actually own the project anymore, we will be partners with you guys
Paul Mont | Satoshi Club: We can suppose that major token holders will be awarded special benefits by owning the Radar flagship token, as well as when it comes to vault fees
Gold Rocket | Satoshi Club: this incredible trust in the community
Paul Mont | Satoshi Club: Yes, amazing!!
Dragos | Radar: There will be a Tier system, and having the benefits from the highest tier will really mean something
Dragos | Radar: The tokens will pay for themselves, but as I said again sorry about this but don’t want to give too much info yet
Dragos | Radar: You will just figure it out before haha
Paul Mont | Satoshi Club: Haha great, you’ve already provided us with a lot of information and hype to be excited about Radar! Thank you!
Paul Mont | Satoshi Club: Great, great. Thank you very much. We’re getting to the last question for this very first part of the AMA, then we’re heading into the LIVE part of the session!
Dragos | Radar: Sure!
Q6 from Telegram User @Highpee
I read that your Asset Management App is 100% completed and is ready for launch on 31st of this month. With this asset manager, users can create vaults and others can deposit assets into it. The creators of these vaults can manage the vaults and invest other’s assets as they deem fit. What does it involve for a user to apply as a fund manager? Do your platform set the operation conditions for asset manager or are fund managers given the liberty to set vault conditions such as Weighted ratio of fund, investment currencies, allocator variables, investment strategies and fees structure? How transparent is the transaction activities of user created vaults and will you be able to ensure these vaults remain obfuscate in order for you to avoid unhealthy tactics, potential front-running or other forms of unscrupulous activities?
Dragos | Radar: Everything is recorded on the blockchain (all the transactions, swaps, everything) so there is 100% transparency about what the manager does with the funds.
Each fund will function as a small DAO itself, basically investors will be able to vote on granting/limiting the access of the vault manager to certain instruments ( for example you could let the manager invest in only yield farming on yearn )
You don’t need to have anything in order to create your own fund, but we will have our PoR system that is going to help the end-user choose the right vault for himself.
Dragos | Radar: Hope this answered your questions
Gold Rocket | Satoshi Club: Thank you very much for the detailed answers.
Dragos | Radar: Thank you for the very detailed questions!
Dragos | Radar:
Telegram Group: @radarprotocol
Announcement Channel: @radarannouncements
Part 2 — live questions from the Telegram community
Q1 From Telegram User
Dragos | Radar: A lot of questions about security so I will just quickly start with this and let you know that each of our products will be audited internally AND by a top tier auditing company AND we will also have a bug bounty program in place, we are taking this VERY seriously. ( Our token is audited by Certik already )
Besides this our CTO is very passionate about cybersecurity and has a lot of experience in this field. He also performed audits for other both tech and crypto companies and discovered a lot of critical vulnerabilities which other audit companies didn’t find, so yeah I am confident that we are doing our best in regards to security!
Q2 From Telegram User @curiosoAMA
Can you explain how your Proof of Return Rewards system works? What is it based on and what are its advantages compared to others on the market? How much can my reward be?
Dragos | Radar: There are no other solutions like this currently on the market. Basically it will be based on a Trust System where depending on how you act / if you invest your own funds in your own vault / if you are kyc’d or not / your maximum drawdown / and a few other things you will be assigned a score which then investors can use to know what to expect from the specific manager
Q3 From Telegram User @Gutike95
Do you point out that Radar repairs the fragmentation found in DeFi? but really what “fragmentation” do you mean? Could it be that there is no cohesion in each of the DeFi products, if so, with Radar it will be possible to operate different DeFi products simultaneously? or how would that “cohesion”
Dragos | Radar: By fragmentation I mean that now if you are a regular DeFi user, I am sure we can all agree that it’s getting pretty tiring at some point to have to use 10 different products for your needs (different wallets, protocols, etc.). So why wouldn’t we just create an all-in-one ecosystem with the ultimate token utility?
*After a lot of thought we still don’t have the answer to the last question so we decided to just build this
Q4 From Telegram User @latedance
You know there are still many people who still don’t know anything about blockchain technology a nd crypto technology and I am wondering how to you plan to bring this kind of people in the crypto world with Radar project?
Dragos | Radar: We will have an educational series on both our blog and youtube channel starting from next month where we will basically take all the concepts and everything from 0 and just build a “Starter Kit” for the non-crypto people
Q5 From Telegram User @cenkkargin0666
What features make you believe that the RADAR platform can stay on the market for a long time? Can you talk about the competitive advantages that can differentiate the RADAR platform from other projects?
Dragos | Radar: We have a lot of advantages compared to pretty much any DeFi infrastructure that you would compare us to, this was the whole idea behind even attempting to build this “beast”
At some point of course we will open-source everything and you will really see how much effort went into all of this.
The most important differentiator compared to anyone: TOKEN UTILITY
Q6 From Telegram User @RosemaryBianco
I am struck by the topic of BUILDING VAULTS within Radar, your explaining on your website that I can create vaults and become an index of other vaults, but to start creating don’t I need to meet some requirements within your platform, an example, a KYC? What benefits would I get by finding subscribers or inviting friends to my vault, would I get any commission for their investment or would you give me any privilege or reward?
Dragos | Radar: There are no KYC requirements as we are 100% decentralized and permissionless.
We will have 3 types of fees which the manager can implement if he wants to:
Management fee (% of total assets taken yearly)
Performance fee (% of profits)
Exit fee(% of assets at the moment of withdrawal)
Fees are not mandatory though so yeah, everyone is free to use the platform as they wish
Q7 From Telegram User @Antonio287
You are launching your own mobile app,
In market, I have seen many Wallets are almost identical,
How are You different from Wallets like TRUSTWALLET, ATOMIC WALLET, SAFEPAL?
Dragos | Radar: First of all we will have our other products integrated into the mobile app, so you won’t have to use the browser anymore because that kills a lot of the UX quality.
Besides this as I told you our token utility doesen’t even compare to the ones that those other projects have. I am sorry if it looks like I’m bragging, but I’m just stating the facts
Q8 From Telegram User @Jonathantross
I Read that there are Multiple Valults like YIELD VAULTS ,TRADING VAULTS ,LOANING VAULTS and NFT VAULTS ,
Can you tell me Some points about each of these Vaults , What are the Main Purpose of these Vaults ?
Dragos | Radar: The manager will have the option to create “General” Vault (that will be able to invest in all the available protocols), or one with a more specific investment strategy where the manager is only allowed to invest in yield farming or others, or a mix between them.
Q9 From Telegram User @brainassist
Radar is looking very promised project could you please tell me why should I buy and HODL Radar tokens for a long time without selling them?
Dragos | Radar: Please read our website, whitepaper, ask questions and understand the project and then you will know the answer.
Just to help you a little bit we will have a tier based DAO staking system where depending on the amount of tokens that you stake you receive different benefits. Follow us for more info when the time comes
Q10 From Telegram User @Kushal85127939
Is radar in collaboration with Yearnfinance to provide Yearn vault services through your Dapps? If not, can we expect to see both of team to work together?
Dragos | Radar: Radar will stay 100% decentralized and permissionless forever. If we’ll decide to do something centralised at some point we will create a separate project, but it’s useless to talk about it now because it’s not going to happen in the next few years I believe, too many things to do with Radar.
Q11 From Telegram User @cryptoflower13
I read that Radar has no AUM fee and only charges a 1% exit fee, which can be reduced to 0%, depending on the number of RADAR tokens staked How many $RADAR tokens should I staked so that the exit commission can be 0%? What does it depend on?
Dragos | Radar: 100.000 $RADAR is the top tier requirement. please keep in mind that the 0% fee on the asset management platform is less than 5% of the actual token utility
Details about this coming very soon
Q12 From Telegram User @Kushal85127939
Is radar in collaboration with Yearnfinance to provide Yearn vault services through your Dapps? If not, can we expect to see both of team to work together?
Dragos | Radar: We have already implemented Yearn vaults on our platform. We will start announcing integrations and partnerships shortly, please stay tuned!
Q13 From Telegram User @KASG95
I could read that its star tool is Autonomous Asset Management, which will allow both investors and vault managers to create and unite vaults focused on everything, both returns and NFT, but really what will be the requirement to enjoy it? We must have a large number of tokens blocked for a long time?
Dragos | Radar: There are no requirements to use any product from the ecosystem, it’s just that if you have tokens the experience will be SO MUCH better for you, so yeah, it’s your decision
Q14 From Telegram User @Karry1999
I found that RADAR is Trusted by Famous Investment Funds Like MOONDOT CAPITAL ,
COINVISION , ExNetwork and Many More , Can you tell me How these Investment Funds are Important for the growth of Radar ?
Dragos | Radar: We are thankful to all our investors for the trust that they put into us, we have secured a few more deals with other investment funds which are not on the website.
Everyone is doing their fair share of work for this project, it really is a team effort
Q15 From Telegram User @tahanisg
I understand that holders must have enough $RADAR tokens staked to be eligible to vote in the DAO, can you tell us approximately how many tokens we must have to be able to vote? On what aspects of the project will we have a choice?
Dragos | Radar: Can’t announce the specific details yet, sorry about that, but I just said in a previous message that the top tier requirement is going to be 100.000 tokens
Part 3 — Quiz Results
In the final part we tested your knowledge in terms of Radar. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.