Thank you to the Bang Pateng Community for participating in Ask Me Anything (AMA) with Vox Finance on November 02nd, 2020. This guest star Mr. Jure and Mr. Luka. If you were unable to join the live AMA, no worries, here comes our 14th AMA recap!
We are glad to meet here:
Jure – Software Engineer CO-Founder
Luka – Leak Blockchain Engineer CO-Founder
Introduction Session
Before we start our first segment kindly introduce yourself to the community?
Luka : My name is Luka and I’m the lead blockchain developer at Vox Finance. I have a background in finance and money, where I’ve worked for financial institutions in the last few years as a smart contracts programmer, where we’ve worked on bringing traditional financial products on the blockchain.
Otherwise, I’ve been a crypto-enthusiast since 2016 when I started with a crypto mining farm. We teamed up with my colleague Jure to create something new in the DeFi space.
Jure : I am the software engineer at Vox Finance. I’ve been working in several well known firms across Europe and I am mostly into web and mobile development. For the past 2 years I worked as an Automated testing engineer. I came into the crypto world in 2015 with a small bitcoin investment and later on I had a small mining farm. I fell in love with crypto and now I am trying to contribute to it as much as I can. I think we are still early and there is a huge potential to grow.. I’ve known Luka since I was a child and creating something for you alongside him is fulfilling.
Question Segment 1
Q1. Can you introduce Vox Finance to our community?
Jure : Our project is about bringing a professional and clean approach to yield-farming, staking and other DeFi features. We’re a project focused on the community and engagement with our members. We want to bring the best possible DeFi platform to the masses with good tokenomics, community governance and many more features down the line.
We’re also looking to set up a new stablecoin platform that will allow users to earn interest on their stablecoin deposits and make 1:1 swaps with other assets. We will also be enabling lending & borrowing features, so we’re very excited for that!
Q2. What are the core features of Vox Finance? How are you different and unique from all other projects out there?
Jure : As stated on our website https://vox.finance, VOX is all about our community. The main goal is: You will be able to share your input and help fashion the future of the token’s ecosystem. We don’t just want to build another DAO, but an entire governance platform where VOX stakeholders (in our staking pool) have many benefits for joining the governance system. We’ll be offering private staking pools, voting rights and a full governance forum to share, discuss, propose and comment on new community incentives and ideas. We’ll reward top contributors with complimentary VOX rewards so that we can really get a big community engagement. We don’t just want to build a DAO platform and say – that’s it. We want real talk between real contributors. We also have a very unique tokenomics model, but I’m sure you will ask more about that shortly.
Q3. I saw that Vox Finance has its token named $VOX, can you explain what the token is? What benefits can we get if we hold tokens? And how to buy?
Jure : You can currently buy it on Uniswap and Bilaxy. We are currently negotiating with several other exchanges and we will have more information soon, so be sure to follow our announcements 🙂
When you buy VOX you can stake in through our website and gain passive income. Currently it is around 700% per year so its quite high.
Also staking VOX gives you our governance token POPULI which you can use to vote/suggest new idea and if people like it we will implement it into our VOX platform. Of course developers are going to be there through whole process to mitigate silly and illogical ideas.
Q4. Nowadays Farming or staking is very popular. Have you provided your Farming or Staking Facility to $ VOX Investors? if you have, can you explain how to staking and farming $ VOX?
Jure : As previously mentioned we are already live with our farming platform. You can buy VOX on any exchange that supports VOX token and by heading to our website https://app.vox.finance/pools you can select one of 3 offered pools in which you enter and gain some portion of VOX everyday. We also offer easy and fast guide on how to do everything https://app.vox.finance/guide. There is also short video on guide page explaining everything in details.
Q5. Could you please explain, what are your upcoming plans in a couple of month/years?
Juke : We’ve done everything on our roadmap as planned so far. We’ve launched our staking platform and farming platform on launch. We’ve done the first audit and will start the governance system next week. We’re also launched our first private staking pool with rewards of tokens from our partner Just Liquidity. We will continue forward with our plans according to the roadmap. I’m sure we’ll be able to do most things before the scheduled date.
In two weeks we will launch our own vault strategies and after that the full focus is on the stablecoin platform that will combine swaps, lending and borrowing all under one common platform.
And with the end of this year we’re planning to bring our entire platform to a mobile app. That means the entire power of DeFi in one application that you can access from anywhere. Farming, staking, governance, vaults, stablecoin lending and borrowing. It’s going to be the biggest development in our product roadmap and we’re more than excited to bring it to the market. Once we set up all our other features it will take all of our focus and we hope that we’ll be able to produce something truly unique.
Question from Twitter
Q1. DeFi is one of the hottest topics in the blockchain field. Can you share your opinion about DeFi with us? Do you think DeFi will destroy the existing financial system? What’s your project Approach towards DeFi?
Luka : I think it’s very possible that features from DeFi will come to replace the traditional financial system or at least some parts of it.
That’s why we’re going to focus on building a truly high-quality platform that will bring many traditional financial products to the blockchain.
We believe it is the future of finance – and we are just at the start
Q2. I can see that VOX is trying to give power of shaping coin to smaller investors like me and I really hope this will continue to be the case. My question is how can smaller investors like me help in making the VOX community stronger?
Jure : We are launching forum platform at the end of this week. Everyone no matter how small or big of an investor will be able to post suggestion on it. Community will vote on it and if it passes that idea/suggestion will come to fruition. The idea is that everyone will help shape VOX. You can also help VOX community grow stronger by contributing either by reporting bugs, sending some graphics or basically anything that you are good at. You will get awarded contributor role and at the end of the month there will be some rewards in terms of VOX token.
Q3. Why have you decided to list $VOX on Uniswap? How profitable is this for the VOX ecosystem and what are the available trading pairs for this token?
Luka : Well, since we are a DeFi project the most logical first step is to get listed on Uniswap since it is the DEX platform after all.
It’s a good starting point because we can provide liquidity and incentivize liquidity providers with VOX rewards and it ties into our project perfectly.
Since then we have also been listed on Bilaxy..
Q4. The mobile app of Vox is scheduled to be launched in February next year, what will be the use of $VOX token until then, and what are the benefits for early investors that would attract the community to trading?
Jure : Main benefit for all investors from early ones – to the ones that are still yet to invest is passive income they can obtain through staking our token. We will also be implementing a lot of new features until our mobile app release. Mainly the ones mentioned before on our roadmap picture. We also have few hidden ones but lets wait for that 🙂
Q5. Safety and security are always the most important issues. How will the team resolve if there is an unfortunate security problem on the Vox Finance? Has the team thought of a workaround for this problem?
Luka : There have been no issues on our platform or our smart contracts and we have been audited by Arcadia. We are also awaiting the final audit report from Hacker and will be able to share it soon. So as you can see security is the first concern.
All new product features will be reviewed prior to launch so that our users can expect the best possible services on our Vox ecosystem.
Question from Free Asking
Q1. What do you think is the biggest problem Vox Finance will solve which is not solved by other projects and why is the problem important to solve?
Jure : Currently mobile applications are severely underutilized in DeFi sphere. We hope that by bringing our mobile application we can contribute and offer something new to the community and other tokens. We can offer our platform to countries with restricted access to computers and offer easy to use, scalable mobile solution.
Q2. Could you explain why a burn rate is so important? How does this translate into the protocol incentives??
Luka : A burn rate is important because it allows the token to be deflationary and this is especially the case for the circulating supply. By having a burn rate, all active transfers effectively burn a 3,0 % amount of the transferred amount.
This incentivizes people to hold and helps the token economics. ��
Q3. Around 70-80 VOX are minted per day. Isn’t too much for your inflation? the token costs more than 700$ at the moment.
Jure : We are lowering our mint rate every 2 weeks and increasing our burn rate. We in few months we will reach equilibrium where amount of new tokens will be the same as the amount of burned tokens. That number is predicted at around 4250.
Q4. is it really healthy for DeFi projects that they are 100% community governed? Wouldn’t it be better to give 50% to the community and 50% to the leaders who have a better vision of the project?
Luka : Hello!
That is why it is the goal of the project to find a balance between the community governance and leadership. We want to create a system where each user will be able to propose and vote on changes, but only the beneficial changes will be pushed forward so that the whole ecosystem can thrive and create new product features.
This will be possible with our governance model.
Q5. How Vox Finance deals with the constant sales of early investors who abandon every projects to catch upcoming gems? Is there an incentive to stay hodl VOX in these earlier stages?
Jure : We offer high passive income, total transparency, audited code, new features coming every week. On top of that we have professional approach towards everyone and try to help everyone as much as we can. We are in constant contact with our community and I believe all that results in investors staying and believing in our project.
MORE INFO ABOUT VOX FINANCE
Website: https://vox.finance
Whitepaper: https://app.vox.finance/whitepaper
Twitter: https://twitter.com/RealVoxFinance
Discord: https://discord.gg/c32KurP
Medium: https://vox-finance.medium.com/
Telegram: https://t.me/OfficialApollo11
Gitlab: https://gitlab.com/vox.finance/vox-finance-contracts