The AMA Room
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The AMA Room

PolkaFoundry with Thi Truong

Brief Information

PolkaFoundry is a one-stop production hub for DeFi apps on Polkadot. It unleashes developers to explore new horizons of the DeFi landscape. Leveraging the thrillinmg ecosystem, true interoperability, and the unprecedented scalability of Polkadot and Substrate; Unique UX-enabling features bring dapps to a much broader population; EVM-compatible, straightforward to migrate from Ethereum; Built-in made-for-DeFi services make it easy for DeFi apps to manage identities, store files, and access Oracle Data.

Introduction AMA

Patrice: Alright! we’re starting the AMA now 😄 hi @thi_pkf welcome!! how are you and where are you? haha

Thi: Hi @cryptopatsu , I am here. Great to be here.

Patrice: Great to have you! Where are you located?

Thi: I am in Hanoi, Vietnam

Patrice: Oh nice! So first, please introduce yourself and your crypto background.

Thi: Thank you @cryptopatsu. My honor to be here, AMA with this great community. My name is Thi Truong (pronounced as Tee). I’ve been working in the software industry for more than a dozen years. Working on about numerous projects, big and small.

Patrice: Thanks for that! I would’ve pronounced it wrong haha 😅

Thi: I started my career in blockchain with Kyber Network 3 years ago (exact number :D, as Facebook reminded the memory yesterday). A year later, I quit Kyber and founded Icetea Platform, which is PolkaFoundry now.

It was a great journey we went through the winter of crypto and sustain to this day. That’s it, @cryptopatsu

Patrice: Icetea sounds cool! why did you guys change the name? did you do a whole rebranding?

Thi: We decided to join the Polkadot ecosystem. That’s why we change the name to closely reflects what we are doing. Yes, it is a rebranding.

Patrice: Ggreat move there.

Thi: Polkadot ecosystem is growing rapidly recently. We beleave our experience and innovative solutions can contribute significantly to its development.

Patrice: I agree. So tell us what PolkaFoundry is all about 🙂

Thi: Sure. PolkaFoundry is “a production hub for DeFi apps on Polkadot”. So what that really means?

Take a look at this picture:

Patrice: Okay. i see it! So you’re like a one-stop shop sort of for DApps?

Thi: Basically, PolkaFoundry is a DeFi-friendly platform for developers to build dapps. It includes:

  • A blockchain with many innovative features
  • A set of built-in DeFi-friendly services. We also integrate with partners’ services to make PolkaFoundry the best developer hub for DeFi apps
  • It is strait-forward to develop new dapps as well as migrate existing dapps from Ethereum. Since we are EVM-compatible.

Patrice: That’s awesome! can you tell me where and how BizNet functions?

Thi: BizNet is our blockchain for business app. One of its key features is UX-enabling, meaning that developers can create dapps what users cannot even recognize it is built upon blockchain.

TeaWork is an example, it runs on our biznet and functions just like normal app

Patrice: Nice! Can you send a screenshot of how it looks like?

Thi: However, for the time to come, we focus on DeFi app (biznet apps are regular apps)

Sure, wait a minute.

Like this

Patrice: Nice UI there. What DeFi products are the best use cases for your tech?

Thi: Let me explain first how we come to our concept, why we design PolkaFoundry that way. When I was working at Kyber, I realized blockchain is very useful technology if used correctly.

Patrice: Please do.

Thi: However, the dapps’ UX is such a hassle for normal users. Many unfamiliar concepts and inconvenient steps just to get onboarding (buying coins, paying transaction, keeping private keys, and the like). IMHO, that is one of the primary barrier for blockchain adoption.

That’s why we spent years to research about dapp UX and we came up with UX-enabling features for PolkaFoundry.

Although blockchain has various use cases, financing is for sure the most important and well-fit area of application. That’s why, we focus on building and integrating services for DeFi app.

And, as I explained, Polkadot is a thrilling ecosystem, and we decided to be a part of it.

Patrice: Nice to know that. there are a lot tumbling blocks for regular users like me but hopefully would be less in the future! excited what we will see on PolkaFoundry

Thi: So, to sum it up, PolkaFoundry mission is to become a top production hub for DeFi apps on Polkadot, with all the tools and features for DeFi experiments, innovation, and real-world solutions.

Our UX solutions would benefit every kind of dapps. But we focus on building and integrate services for DeFI apps. This includes lending platform, decentralized insurance, DEX, prediction apps, NFT marketplaces, just to name a few

Patrice: Promising 🤩 Really intrigued how those will turn out. i will be keeping an eye on your developments for sure!

Tell us what PKF is and its utilities please

Thi: Sure @cryptopatsu. PKF is the native currency of PolkaFoundry.

Its utility includes:

  1. Payment for transaction fees;
  2. taking for collators to earn a share of rewards for producing blocks;
  3. Participate on on-chain governance where you can earn rewards for voting on proposals;
  4. You can also use it to pay for PolkaFoundry services.

That’s it @cryptopatsu

Patrice: Can I see you token economics here?

Thi: Sure

this is our token allocation

and the vesting schedule

Patrice: Thanks @thi_pkf. Very useful info!

Community AMA

Q:How does PolkaFoundry enable UX rendering to attract larger audiences, and how is PolkaFoundary’s DocuGuard service different from other storage services?

Thi: We have several UX-enabling feature for dapps. For example:

1. Signing key: Used in place of the private key, each signing key has an expiry time and a limited set of permissions. Thus, leaking yields much less serious consequences.
This more efficient signing process improves both dApp security and the UX safeguard the keys.

2. Flexible Payer: Used in place of the private key, each signing key has an expiry time and a limited set of permissions. Thus, leaking yields much less serious consequences.
This more efficient signing process improves both dApp security and the UX safeguard the keys.

3. PolkaID: An off-chain service that encrypts a user’s key, splits it into parts, then distributes the keys to multiple independent and secure key management services.
This shifts the burden of keeping keys from users, while still preventing illegal access from any single central authority.

As for DocuGuard, it is tightly integrated with PolkaFoundry, so developers can pay for it with PKF token.

Q: Now that ICETEA Platform has been rebranded to PolkaFoundry, does the partnership with Rikkeisoft still hold? Also, share with us how this partnership benefits PolkaFoundry.

Thi: Sure, it is still hold. RikkeiSoft is a large software company with about 1200 developers and they help us a lot about developer resources. This differentiate us from other developer-limited blockchain companies.

Plus, they are very strong at marketing and working with many big clients in Japan so they can help us to reach Japan market.

RikkeiSoft is also close partnership with Oraichain.

Q: Many things can make a project strong like the community the quality of the project,its investors, What make @PolkaFoundry strong? What will you do to make it more stronger?

Thi: We have hardcore tech team, developing software and blockchain for years.

Now, we are cooperate with top marketing and business firms, advisors do our go-to-market strategy.

We are backed by top VCs in this space, and we will announce our private sale closing results today or tomorrow.

Finally, we work for long-term value. As you can see, we went through the crypto winter.

Our vision is to empower every person on earth with complete control and the freedom to utilize their valuable assets in a way that is digitalized, secure, and accessible.

We strongly believe in that!

Q: Apart from being a blockchain technology, what makes Lovelock different from normal social media? Is there any kind of reward that is given for usage of Lovelock?

Thi: LoveLock is a micro (niche) social network that focuses on closed and true-meaningful relationship only such as lovers, family, and closed buddies.

With LoveLock, everyone can be true to themselves because they’re safe among their trusted relationship, not a bundle of fake friends on the Internet. The LoveLock newsfeed only shows what you really care about, not neither advertisement nor controlled news because LoveLock respects your privacy and identity. You own your personal information and no-one can use it without your permission.

It is still in beta, though.

Q: There are some common problems in crypto such as : scalability, Flexibility, Volatility, Speed, Privacy and SECURITY. How does PolkaFoundry plan to resolve this problem?

Thi: This is why we choose to built our platform on Substrate and Polkadot ecosystem. We aim to become a Polkadot parachain.

Substrate is a powerful framework for building parachain, and it solves most of the problems of current Ethereum about scalability, interoperability, speed, etc.

Being a parachain, we inherits the security from the Polkadot Relay chain, which is very strong.

The only missing piece is dapp UX, which PolkaFoundry will provide.

Q: What are PolkaFoundry plans shaping up for marketing and building a strong core community which is essential for any new project in the crypto industry?

Thi: We are backed by top VCs and working with many big partners in the field. We have top marketing team behind us who is also behind the marketing of various succesful project like Harmony, MantraDao, Apy.finance.

So, we are not just a strong technical geek team. We have the marketing and go-to-market plan, partnership, and strong backing also.

Closing Remarks

Patrice: Alright! That’s a wrap! Please invite our dear community to your socials and groups. They can perhaps ask you there too if their question was unanswered tonight. Congrats on the recent Market 6 partnership btw 😉

Thi: It is in beta but it work, and we plan to add more interesting features, like virtiual gift for love, growing a love tree together etc. Yeah, they are wonderful guys on marketing.

Thank you Patsu. Many good questions, this community is great. I hope I have time to answer all.

Patrice: They can join your community and get to ask more 🙂

Thi: Let’s head to our community at @polkafoundry to discuss further

Patrice: That’s it for today’s AMA guys! Thank you so much to our guest @thi_pkf and for everyone who tuned in and participated. Stay tuned for the winners and how you can claim your prizes 🧡

Don’t forget to follow us on Twitter too https://twitter.com/theamaroom

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

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Steven Jim

Steven Jim

Cryptocurrency writer/CM

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