The AMA Room
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The AMA Room

Apollo with Ashwin Somasundaram

Brief Information

Apollo is a rebasing seigniorage share model capturing the value of a world wealth index from a basket of stable assets (natural resources, multiple countries GDP, multiple currencies), creating a future proof and innovative unit of account for the digital asset revolution

Introduction AMA

Eric: Hi @ApolloCEO how are you today?

Ashwin: There we go :) Doing well! Busy but good :) Thanks for having me! How are you doing?

Eric: Haha busy is good!

Ashwin: 👍

Eric: Back to 100% haha.

Ashwin: Excellent.

Eric: so Please introduce yourself to the AMA room. We are curious about your background and how you discovered crypto.

Ashwin: Sure thing! My name is Ashwin Somasundaram, I am the CEO/Founder of Apollo Protocol. I have a nontraditional background as an Assistant Professor of Medicine, Medical Oncologist by practice, and physician-scientist focused on systems biology and tumor immunology.

It is because of my systems biology research that we wanted to branch into blockchain technology for healthcare integration and decentralized charity

Eric: Woah. thats quite a jump. So what is Apollo protocol @ApolloCEO ?

Ashwin: Haha, some of us in the systems space see the writing on the wall. Blockchain now is like the internet in the 90s :) Absolutely!

Apollo protocol is a fully collateralized decentralized incentivized faithfully pegged stablecoin. More specifically it is an ecosystem of interconnected tokens that allow for the above to happen

Eric: interesting. how does this achieve those qualities

Ashwin: One single token cannot be a perfect stablecoin or growth coin or seigniorage model but am ecosystem like ours can. We have a growth coin known as Apollo Growth (AOX) with a unique and diverse peg of volatility weighted assets.

This acts as a volatile hedge against inflation and entry into the ecosystem. As well as a vehicle for growth, volatility, and high risk high reward trades. This feeds into the collateral vault of Apollo stable AOY.

Eric: Theres a 3rd token, correct?

Ashwin: Correct! Apollo Stable is pegged 1:1 to USD fiat in bank vaults long term and acts as a bank and cornerstone of our intended Defi lending platform DELPHI. Finally there is the Apollo Shares token AOZ which acts as a token for governance, farming between ecosystems and different chains and acts as the shares token for the entire ecosystem and off ramp for volatility of the others.

This way our stable coin has an on and off ramp for volatility :)

Eric: Wow. Should be interesting how they all play together.

Ashwin: 😁👍

Eric: Can you set an example of what happens when Apollo stable goes above and below the peg. what kicks in?

Ashwin: Absolutely! The contract is quite simple, as the vault expands, the tokens mint 1:1. So as people deposit USD via fiat ramps AOY is minted and as they pull it out. AOY is burned. If there are excessive shocks to the system with highly volatile buys and sells then this is offset by the shares tokens pools manually taking on this volatility in USDC trades. The vault will also need to have a 1% supply cap per txn in the beginning for AOY to help with this.

In this way, AOX feeds into AOY’s growth and builds AOY’s true usecase and AOZ acts as a shock absorber for AOY in highly volatile states.

Eric: Got it. How big is the Apollo team?

Ashwin: The core team is 5 members with Austin as our COO given his work with Deloitte, Aatash and Mark from social capital and a number of devs and audit teams from Zokyo along with a marketing team, a graphics team, and a board of 20 influential advisors.

Our advisors are our biggest strength are our advisors as they have been embedded in the field and some in seigniorage, elastic supply, algostablecoins and DeFi lending since its inception.

Eric: Is there a TGE? When is that?

Ashwin: Ah yes! The launch is on uniswap this Sunday 2/21/21 at 6am PST.

Please see the above countdown timer :)

Eric: When is the main product gonna be live?

Ashwin: At launch we will have AOX and AOZ. They will be live for use and trade.

Community AMA

Q: AOX is pegged to USD, CNY, EUR, JPY, GBP, KRW and INR, why choose these 7 different fiat? What advantages does this diversity offer you?

Ashwin: The USD has been inflated severely in the past year. It is hard to say how other fiat react to this. As we have shocks to the world economy, it is clear that in a closed ecosystem where we try to capture the wealth of the world, we will have a net positive growth that is guaranteed for the vast majority of the time.

Q: Any specific details about farming? Any rough estimates for the APY? There are a lot of farming platforms and projects how do Protocol Apollo stand out from other farming projects?

Ashwin: The projections are high due to estimated market demand at launch but it would be more accurate to see the spread over time in my opinion.

Q: One of your main partner is Binance Smart Chain What are the project you are planning to work together on so far? How will Binance help Apollo & get noticed among this wave of DeFi platforms? Will your yield farming model be based on BSC?

Ashwin: This is our first expansion and our secondary launch. They will aid in reaching out to all the BSC dApps needing farming pools and fully collateralized stablecoins, etc.

Q: Can you please explain us how the Protocol Apollo works- especially in decentralized finance? Could other dApps associated with your services be built from your DeFi?

Ashwin: Absolutely, in fact that is part of our expansion plan and how we operate. We are expanding on multiple chains and ensuring wrapped AOY can exist through them allowing for a nondilutive expansion of our ecosystem and AOX/AOZ while having a shared utility of AOY. This allows plenty of dApps to use the gold standard of stablecoins in whatever way they see fit.

Q: Can you tell us about What are the connection of #Apolloprotocol tokens [ $AOX, $AOY, and $AOZ ] including there role?

How will the rebase system be performed, in what way & what period?

Ashwin: The max rebase rewards are 10% with a variable percent going to people who locked tokens vs stakers vs farmer vs governance. This occurs in 30 minute epochs :)

Q: On which types of Businesses & userbase, your project is mainly focusing on and which services are provided by to them? How apollo blockchain helps Businesses?

Ashwin: We hope to allow for small business loans on the Delphi lending platform also. This will have far lower interest rates compared to traditional finance and if they use our decentralized bank for savings then their APY is greater also.

Does your GREAT PROJECT have plan about Staking and Farming ?

Ashwin: Absolutely! Please check out our dashboard now if you have a high res desktop monitor. You can see that we have farming and staking. Locking, trading, coupons, dao/governance all exist also. Our staking and farming pools boat high projected APY and is a large reason for the demand going into launch.

Q: What is the difference of seigniorage share model compared to other blockchain solutions and what will be the advantage of this model for smart contracts and DeFi lending solutions?

Ashwin: Compared to early seigniorage models we have decoupled volatility meaning we have an on ramp and off ramp for volatility while others only have the off ramp. This also allows for one token to be fully uncompromising for growth (AOX) and accepting of volatility and alleviating any volatility for our truly stable token AOY.

Q: All project’s coins have their main Utilities & real-life use! So, Can you tell us what the main role of your coin is in your ecosystem? Explain its Utilities & Real-Life use cases? and Why should i invest in your coin for the long term?

Ashwin: Please see the above on our usecase as a decentralized bank and creating real world use by finally allowing DeFi users to obtain mortgages or auto loans or student loans via DELPHI. After that we will also collateralize AOX with the underlying assets it is meant to represent creating a fully collateralized digital world wealth index fund that is the ultimate hedge against inflation.

Q: Can you elaborate a little about what #Apollo is organizing in 2021 marketing-wise? How are you planning to get more customers/programmers familiar with your project and convince them to use it?

Ashwin: Marketing is crucial and our strategy that our advisors recommend is similar to chainlink where we market by doing and expand our ecosystem onto more chains, more markets, more ramps, and more partnerships. We have existing partnerships for pools and we are launching another ecosystem on BSC in a few weeks after ETH. We are working on a number of other partnerships and chain launches and farming pools, and fiat ramps/markets.

Q: Do you have any Coin Burn or BuyBack system or do you have any plan to burn Apollo to increase token value and attract investors to invest in your project on Defi?

Ashwin: We have a buyback system for AOZ to incetivize growth of shares and we have built in toke burn for AOX via coupons and perma locking for compounded rewards.

Q: How does Apollo Protocol gives an opportunity especially to non-crypto native people? How do welcome new users in Apollo network?

Ashwin: This is where our lending platform Delphi comes in…

Once our vault is large enough to be around 24M USD we will be able to obtain a bank charter and discuss setting up FDIC insured fiat vaults. We will need SEC registration by then and have obtained a mortgage lending license or work with a lending partner. This allows us to provide autoloans and mortgages at far lower rates than traditional finance while also providimg far more returns in APY to laypeople who use AOY as a savings account through our fiat on off ramps.

Closing Remarks

Ashwin: @ERCSU there were so mamy great questions I had a hard time picking only 10 :)

Eric: Haha all good! I'm learning so much about the project.

Ashwin: I would add that any questions we did not have time to answer today, please ask them in our telegram

Eric: Please paste the links to your channels.

Ashwin: We are there 24/7 and happy to answer any questions :) @ApolloProtocol

FOR HIGH RES desktop monitors:

Eric: Thanks @ApolloCEO this looks really well thought out. and promising!

Ashwin: Thank you for having us!!!

To join in on the discussion feel free to join our group @amaroom



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