Unreal Finance AMA Recap with Mandysicoresearch
Unreal Finance went live on Mandysicoresearch on May 14th, with the CEO, Ishan Garg, providing insight into the whole project Unreal Finance, as well as answering questions and queries.
This article is split into two parts to ensure consistency for readers. The first section details the questions posed by the session’s moderator (Mandy), while the second segment outline the questions posed by members of Telegram communities.
SEGMENT 1
Mandy — Hey everyone I am pleased to have with us Ishan Garg (CEO & Founder) of Unreal Finance team today. Ishan Garg welcome to our group and it’s a pleasure to have you here.
Ishan Garg — Hi everyone, I am Ishan Garg, founder and CEO of Unreal Finance. I have been in the blockchain space since 2017. Prior to Unreal Finance I was the India BD head of OKEx.
Mandy — Could you share how your team came up with the concept of Unreal Finance and what problems are you solving.
Ishan Garg - Definitely, the idea of Unreal finance came from the increasing frustration from yield farms and lending protocol.
The interest rate on the above protocols fluctuate quite a lot and makes it quite difficult for users to get an accurate idea of the interest rate they would get.
Currently there is no way to get fixed interest rate (or lock-in the interest rate) and there is no capital efficient way to actually trade the interest rates (like interest rate swaps), and this how the idea of Unreal was born — where we tokenize the future yield, and create a new synthetic which is tradable on the open market.
Mandy — Much needed solution in Defi space.. we too have been struggling with this problem.
Ishan Garg - ah Yes — We at Unreal want to solve this problem.
Mandy — So Who are your competitors in crypto and what’s the strategy to outperform them..
Ishan Garg — I would say two of our biggest competitors would be Alchemix and APWine — they both are doing thinking in similar lines as ours, but our approach is a bit different from theirs — they are mostly focused on the tokenization of asset part but we are more focused on building an ecosystem on top of the future yields.
For example, the tokenized assets on both Apwine and Alchemix requires a specialized AMM while our assets are compatible with current generation AMM. Moreover, developers can use our assets to build applications on top of it.
Mandy — Interesting. Can you share how important is the community for Unreal team and what steps will be taken by team to keep interest of community & investors intact.
Ishan Garg - Community is an important part of Unreal Finance and we would be ensuring that our interest align with the interest of the community.
Some steps we will be taking:
*Community education programme — Unreal is a core financial product and we would ensure community really understands Unreal Finance.
*Community vote — any major decision regarding the protocol, we will be taking the opinion and vote of the community.
Mandy — Final question before we move to live AMA. Could you share some recent product development in terms of roadmap ( or milestones achieved)..
Ishan Garg — Yes — we have tested the concept on the testnet and it’s working flawlessly, and that we means we are on track to release more information on public beta launch soon.
SEGMENT 2
Community Question 1 — Usually stake and mining project have big weakness and that are a problem of huge price volatility and farming is not sustainable since all farmer only will sell. How is Unreal Finance manage about this problem?
Ishan Garg — This one of the major problem we will share, while farms only sell token, by create a capital efficient way for traders to take long position in the yield of farm tokens we are creating a market similar to interest rate swap in the Defi space.
Community Question 2— Now a days security is big issue for anyone. Who do you adopt unique measures for protection / security of investors amount?
Ishan Garg — I agree, security is a major concern for us and we want to ensure we meet some of the best security practice in the industry:
All our contracts will be audited by some of the best auditing firms.
We would be launching a bug bounty programme with good rewards for people to report bugs and vulnerabilities to us.
And we have removed single dependency everywhere — Even for small things multiple confirmations are needed.
Community Question 3— How do you deal with your competition in the future and make it an $UGT choice that many people always like for trade.
Ishan Garg - Our goal is to build an ecosystem rather than a stand alone product — with an ecosystem developers can build applications using features of Unreal.
Community Question 4— What are the plans to educate and raise awareness and adoption among the community to make more people understand about the project easily?
Ishan Garg — We are working on a series of resources in different media format to raise awareness and educate the community on Unreal finance and its benefits.
Community Question 5— Ishan Garg Can you tell us some of the goals you’re looking forward to accomplishing the most with Unreal Finance?
Ishan Garg - Our vision is to bring interest rate swaps (which is a $14.2 trillion industry) into Defi — through IRS lenders and traders can speculate on the interest rate which makes the market more mature and ensures market doesn’t tip in one direction — through Unreal Finance good farms will also have good liquidity.
Community Question 6 — I want to support your project, Tell us more about the Ambassador Program and in what ways can we participate?
Ishan Garg — We will be announcing our ambassador program shortly — do join Unreal Finance community for more details.
Community Question 7— Although ETH 2.0 is delayed to next year, but it will solve all exist problem of ETH and become the best choice for dApps in future, so do you think this is a threat for your project and how could you overcome this barrier?
Ishan Garg — Not really, in-fact ETH2 makes Unreal Finance even better as it will allow retail traders to also speculate on interest rates.
Community Question 8— What is the use case of $ UGT token? Can you tell me what is the incentive for market demand of $ UGT ? Can you convince us about long-term potential increase in $ UGT market value?
Ishan Garg- $UGT is the native token of Unreal ecosystem. Through UGT community take part in governance, sharing protocol rewards and pay platform fee. moreover, since Unreal aims to be an ecoystem any application on the Unreal ecosystem will directly get exposure to UGT. I think that’s from my side.
Mandy — Let me thank Ishan Garg from Unreal Finance Team, for joining our chat group today and sharing insights on the project. We wish you and your team great success for future.
For more Information and Resources, visit:
Unreal Finance Website: https://unreal.finance/
Unreal Finance Twitter: https://twitter.com/UnrealFinance
Unreal Finance Medium: https://unrealfinance.medium.com/
Unreal Finance Reddit: https://www.reddit.com/r/unrealfinance/
Unreal Finance Telegram: https://t.me/unrealfinance