cryptodaily.io hosts an AMA with AvaLend Finance. #AvalendFinance #Avalanche #AvaxDaily #AMA
Cryptodaily Admin: Good day everyone!! Welcome back to another AMA with AvaxDaily 🙌 I’m Daley and today I’m joined by Raven from AvaLend!
Greetings man, how are you doing?
Raven: Hi you all! Hi Daley! This is Raven from Avalend Finance! I’m feeling pretty good now. Well I’m glad to introduce myself
Cryptodaily Admin: Yes, let’s start the AMA with that first!
Q1: Could you tell us a little bit about yourself and your team? What are your past experiences? Are you doxed?
Raven: I’m working with Avalend Finance as the chief marketing manager. I’ve worked in dozens of medical companies for medicine marketing and I entered the crypto world three years ago. This is the eighth team I’m working with. I aim to help build the projects at their early stage. Avalend is a team composed of geeks. David Covey is the leader of our team. He was the core of two lending protocols and last year he decided to build up his own project. And here comes Avalend
Cryptodaily Admin: Any other core member you want to introduce to us?
Raven: We are a team of twelve members. Half of them are responsible for the building and maintenance of protocol. Three of them are in charge of front-page development and UI designing. And I was leading the other two fellas to enact marketing plans.
Q2: What is AvaLend all about? Give us a little summary?
Raven: Here it is: Avalend is a decentralized lending protocol where users can participate as depositors or borrowers based on their preferences. Avalend protocol values the security and usage of crypto assets as they enable operations and hold the assets and liabilities of the protocol. The key mechanism of Avalend is to strike a balance among lending, borrowing and liquidation, which includes dynamic adjustment of interest rate and risk control. The governance token of Avalend – AVAL is greatly empowered among the whole lending and borrowing algorithm, which distinguishes Avalend protocol from other lending protocols.
Q3: Why did you and your team decide to build a lending/borrowing protocol on Avalanche? What do you expect from AvaLend?
Raven: Well. There are already many mature lending protocols running on Avalanche like AAVE and Benqi. But they are a little bit old-schooled and Avalend aims to add spicy into existing field of DeFi
Cryptodaily Admin: how?
Raven: It’s because we have unique functions designed for our governance token- AVAL. With its help Avalend becomes a unique protocol. We want Avalend to be most user-friendly lending protocol on Avalanche or even on other chains
Cryptodaily Admin: Later on, we will dive deeper into these unique functions of AVAL that you talked about
Q4: Why should we lend and borrow with AvaLend? What do you offer that’s attractive to the investors?
Raven: This question could also be answered with the unique functions of $AVAL. First there’s a staking function for users to earn profits. After we have accumulated enough users, they will naturally try the lending function of Avalend. With our unique design and fast responding speed, Avalend will sure attract enough users. Borrow and lend is not a new concept, we have done a lot to make Avalend different from others
Cryptodaily Admin: Great, so there’s gonna be Staking, Lending and Borrowing
Q5: Let’s dive into your tokens $AVAL. Can you share with us your tokenomics? And what are some of $AVAL use cases?
Raven: Okay please allow me to quote from Avalend’s whitepaper
Cryptodaily Admin: go ahead 👌
Raven: AVAL Token Allocation
Max Supply: 1,000,000,000
Initial Liquidity: 100,000,000 AVAL- 100,000 USDT.e
Yield Farming: 700,000,000
Team: 5,000,000 6-month full lockup, 20 months linear unlock thereafter
Seed round: 5,000,000 3-month full lockup, 5 months linear unlock thereafter
Community building, Platform bonus and airdrops: 100,000,000
And $AVAL use case is the core of whole project
Unlike other lending protocols, Avalend makes the governance token – AVAL a built-in tool in lending and borrowing. By staking AVAL one can get a 10% interest subsidy while lending and 5% discount while borrowing. This bonus will be paid in the form of AVAL.
It basically makes the users owner of Avalend.
Another remarkable feature of differentiating Avalend protocol from other protocols is the incredible role AVALserved in the liquidation process. As the liquidation will be triggered while the line was hit, the borrowers’ staked AVAL will automatically serve as collateralized asset while one is facing liquidation. When one stakes 10000 $AVAL in the pool and his collateralized asset no longer covers the value of assets one borrowed, staked $AVAL will automatically be calculated as collateralized asset at the worth of $11000. In this way $AVAL serves as a supplement of collateral which saves users’ time to do extra clicks and lower the risk of being liquidated. When Avalend protool have grown to be used by enough users, $AVALwill also render holders voting power to decide the future of Avalend Protocol.
Cryptodaily Admin: So basically, you’re using a single token model for AvaLend. AVAL is the governance token, the reward token
Raven: Yeah, it’s easy to understand and its stability gets ensured
Q6: Are you audited by any third-party?
Raven: Yeah, here’s the audit:
https://solidity.finance/audits/AvalendFinance/
It’s safer to check the security of projects before entering
Cryptodaily Admin: Ok let’s move on to your future plans
Q7: I can see you’re having some partnerships on the way, can you disclose anything about that?
Raven: Yeah we are cooperating with AVAX Giveaway to expand our user foundation. And also with swft coin to make sure our token can be traded more easily. We are also considering working with other Avalanche projects to enable more tokens which can be used as collateral asset
Cryptodaily Admin: Exciting times ahead 💪
Q8: What can we expect in the next 3 months and in 2022 as a whole?
Raven: First we’ll launch on mainnet and start liquidity staking. There will be several rounds of airdrop claims. V1 app for testnet will be released (Automated leverage loops for borrowing) in early May, 2022. Then we’ll do several rounds of public testing. Start lending and borrowing after the test and launch Avalend DAO!
Cryptodaily Admin: You guys are moving fast 😳
Raven: Right. We’ve prepared for five month. We are supposed to move faster
Q9: Where can we find out more about AvaLend?
Raven: We’ve made a Linktree for info acquirement
Cryptodaily Admin: Thank you! Check them out people!
Cryptodaily Admin: With this we are now at the end of our AMA session with AvaLend🔥🔥🔥
Time for wrapping up, any last words you would like to say to our community?
Raven: It’s really nice to be here before the launch of Avalend! Remember our project is about to launch tomorrow! You can join and early comers will receive higher rewards!
Thank you all and thank Daley for this amazing AMA!
Cryptodaily Admin: Thank you Raven for being here and talking about AvaLend!!! Best of luck with your launch tomorrow!
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