We recently hosted an AMA with AirDAO, on November 9th at 2 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Lang Mei, CEO at AirDAO So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks!
Q1. Could you please introduce AirDAO to our community in layman’s terms?
Ans — Sure! AirDAO is the Decentralized Autonomous Organization (DAO) that governs the Ambrosus Layer-One Blockchain (AMB-NET). AirDAO is making crypto accessible to the world and streamlining the onboarding process to Web3 with user-friendly, powerful products that are accessible to anyone. AirDAO is working toward becoming a community lead DAO, and community members will play a pivotal role in shaping the direction and decisions of the ecosystem.
Q2. What are the advantages of AirDAO to the other alternatives in the Blockchain field?
Ans — One big advantage AirDAO has is the focus on accessibility. Other blockchains have treated accessibility as an afterthought. For AirDAO, making all products easy-to-use and simple to understand is a fundamental cornerstone of our approach to Web3 and DeFi and is something we incorporate throughout the ecosystem. Using DeFi on other blockchains can get complicated fast; with multiple tabs open for different products across multiple blockchains. AirDAO streamlines this all into the AirDAO Dashboard — making the complicated simple with one straightforward, powerful interface.
Q3. What are the major milestones AirDAO achieved so far & what are in the future pipeline?
Ans — Some of our biggest milestones include the successful launch of AirDAO, raising two million dollars in funding from DWF Labs — a top five crypto market maker and a prominent Web3 investor — and the recent launch of the Ethereum Bridge. Another thing to note is we work closely with Binance, and we have several ongoing promotions with them. Together, we recently launched a Red Packet promotion (https://airdao.io/binance), and within the next few days we will launch another exciting new promotion.
Questions Asked on Twitter for AirDAO Team!!
Q1. I noticed that you have developed an AMB Bridge which will allow to securely connect between AirDAO and compatible blockchains. So, can you tell me more details about the development of this AMB bridge? Can you mention which blockchains are supported?
Ans — The AirDAO Bridge enables the transfer of crypto assets across multiple blockchains, and currently supports Ethereum and BNB Smart Chain, with plans for more in the future. The AirDAO Bridge is a key part of our vision for AirDAO to be multi-chain compatible.
Q2. Why does AirDAO choose to go with Ambrosus blockchain network? How is it comparable with ETH & other L2 chains?
Ans — AirDAO’s Ambrosus Network blockchain (AMB-NET) has had 100% uptime since its launch and is highly secure. It also has fast transaction times, high transaction throughput, and low-cost transaction fees — all of which make AMB-NET one of the top ranking blockchains in comparison to all others.
Q3. How will this transition from Ambrosus AirDAO be done? Once the transition is made, will members have the same ability to create proposals and vote on them using their $AMB? How will they balance hierarchy and democracy, to ensure a successful, innovative and lasting DAO?
Ans — The transition will be done in stages. AirDAO is currently building the high quality foundational Web3 products that meet the needs of a global audience and is working on the changes needed to fully transition to a DAO governance that successfully balances hierarchy and democracy. Our Litepaper goes into this in more detail and can be found on our Notion page in the AirDAO Academy:
A new tool for teams & individuals that blends everyday work apps into one.
Q4. As I read FirepotSwap is the first dApp in the AirDAO ecosystem. Can you explain what users can do in this dApp? How many assets or tokens are there to exchange? What functions are available? Can we provide liquidity in FirepotSwap? If so, which pairs can we do it?
Ans — FirepotSwap is a Decentralized Exchange (DEX) that empowers users to be able to Swap, Stake, and Farm crypto through a single, easy-to-use interface. It currently supports AirDAO’s AMB token and USDC, and more pairs will be added in the future. Providing liquidity on FirepotSwap is straightforward and FirepotSwap has a guide for this, I’ll leave the link here:
You can also follow them on social media here: https://linktr.ee/firepotfinance
Q5. Why are you getting stable coins, as what we saw with LUNA’s stable is horrifying! You can go with existing rather than new one, no?
Ans — AirDAO’s stablecoin will not follow the LUNA model. The stablecoin will resemble the Maker/DAI model which has proven itself through multiple market cycles since launching. It will differ in several ways though, as it will be governed by the broader AirDAO ecosystem instead of an individual protocol, and will also be funded by a portion of the net revenue of AirDAO as a whole instead of being solely minted and collateralized by individual users and their assets. This will be a more efficient and better way to manage the balance of assets to liabilities. Also, USDC is currently supported the AirDAO ecosystem and more stablecoins will be available to use in AirDAO in the near future.
Questions Asked by our BlockTalks Community Members during live Session to AirDAO Team!!
Q1. What’s the requirements of validate node in Airdao?
Ans — You can start staking today with 1000 AMB using our staking portal on the AirDAO website, or if you are tech savvy you can set up a node with one million AMB tokens!
Our staking portal is here: https://airdao.io/staking/
Q2. What is the most ambitious goal of your project? Could share with us any Upcoming Updates?
Ans — Our most ambitious goal is to become the first community-owned DAO governing an L1 network. Another equally ambitious goal is building powerful DeFi products in one single interface and becoming the Apple of Web3 with a dApp store that is as easy to use as the Google Play or Apple App stores!
Q3. AirDAO is an ecosystem of innovative and easy-to-use dApps accessible through a single dashboard. What is AirDAO’s vision for the future of DeFi?
Ans — AirDAO’s vision for the future of DeFi is to reduce the current complexity of Web3 with simple interfaces through our single dashboard, whilst making it frictionless for anyone in the world to onboard into our ecosystem.
Q4. Is your project community only for English speaking countries or for users from all countries?
Ans — We already have thriving local communities in Turkey (@airdao_tr) and Africa (@AirDAO_Africa) and our global community presence is rapidly growing. We have just hired LATAM and Chinese Community Managers (@airdao_chinese) to kickstart our outreach in these new regions.
Q5. Could you please tell us more about AirDAO x Binance Red Packet Promotions? How long will this promotion last and who can benefit from it? Is it limited to existing community members or those that are new to the AirDAO ecosystem can benefit as well?
Ans — Our Red Packet promotion with Binance is still ongoing!
The promotion is open to new Binance Customers that sign up through the link: https://www.binance.com/en/activity/red_packets/?packetId=RP147886486086610452480&sharerId=47621660
We also have another exciting promotion coming soon in partnership with them, keep an eye on our social media for the announcement! > https://linktr.ee/airdao