BlockTalks x Dot Finance AMA Transcript!

6 min readMay 26, 2021

Hello! BlockTalkers & Blockchain Enthusiastic!

We recently hosted an AMA with Dot Finance, on May 26th at 10.00 AM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Niro Rozin, CEO of Dot Finance. 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 Dot Finance to our community in layman’s term?

Ans — Well we are building Decentralised financial applications dedicated for the polkadot network.
Applications such as: farming, staking, index, dex aggregator.

Q2. What are the advantages of Dot Finance to other alternatives in the Blockchain field?

Ans — By providing access to a variety of battle-tested high-performing financial instruments, Dot.Finance is designed to bring DeFi to a wide range of users and will help increase user exposure to the many benefits of the Polkadot ecosystem. This will help grow the adoption of not just the Polkadot framework but the many new DeFi products and services that Dot.Finance is building on top of Polkadot’s safe, secure, and resilient architecture.
among our unique features:
*Auto compounding of liquidity mining for an extra of 30%-60% apy
* One of the best teams in Defi, built the first ever dex (bancor)
* first ever Index for polka tokens.
* smart Polka dex aggregator.
* Il Guard

Q3. What are the major milestones Dot Finance achieved so far & what are in the future pipeline?

Ans — On our same day of tge we will have our platform out with our first products:
Farming and Staking.
due to the fact that polka network is not fully operational, we choose to use binance chain, for our tokens.
one of the reasons for that is low transection fee.
Our farms will utilize various farming optimizations strategies that helps farmers earn the highest return possible
Using Aturo Compound. all of these features are already working and validated by audits.
we will add new farming pools along the way and about 1-2 months after TGE we will release our
polkadot index.

Questions Asked on Twitter For Dot Finance Team!

Q1. I honestly think everyone just want to ride the rave of the moment DeFi, not that they truly have any value to add. How can we trust Dot Finance as regards this, that you’re truly adding value?

Ans — Dot.finance plans to develope a suite of defi projects focusing on the polkadot ecosystem. utilizing polkadot’s superior fundamentals to remove barriers for entry, we aim to help incentivize its growth and evolve with it. we are here for the long haul and already in the works of building the future products of the protocol, bull market or not. feel free to check our roadmap and keep up with our updates.

Q2. Why did the Dot_finance team choose Polkadot? Interoperability and scalability between chains are two key components, do you plan to adopt other blockchains in the future?

Ans — We chose polkadot because of those key components. We believe future blockchains will be all connected to each other through Polkadot, so building on Polkadot will give us reach and exposure to all of these blockchains as well.

Q3. What is the utility of the token in the ecosystem and tell us some benefits of holding this token for long term?

Ans — Our native PINK token is more than just a regular governance token. PINK incentivizes liquidity provision and helps increase returns when using our platform. It can be staked in our PINK staking farm to earn platoform fees, and is used as an APR multiplier when claiming profits from other farms. In addition, PINK tokenomics is planned to be interconnect within all future dot.finance product as well.

Q4. How secure will smart contracts be? Will the code be audited by an outsider before the public launch?

Ans — Code is currently going through vigorous auditting and due dilligence from multiple 3rd party and best in class audit firms. We go live with a certified audit review and will add additional audits short after and per each update we make to the protocol. Security is of upmost importance to us and our users.

Q5. Would you share how farming models by Dot Finance what was you offerings to community?

Ans — Farms will utilize various farming optimization strategies that helps farmers earn the highest return possible. our farms will uses smart contracts to automatically compound your returns at the optimal frequency to increase your APY while keeping costs at minimum by batching transaction across the farm participants.
our first farm will compound yields from pancakeswap polkadot farms.

Questions Asked by our BlockTalks Community Members during live Session to Dot Finance Team!!

Q1. When will you complete your website?

Ans — Our platform will be live on the same day of our ido.

Q2. Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?

Ans — Well i think the fact that our team are all Ex "Bancor" devs, who are building defi product since 2017, will give some comfort that we are not newbies that come and go. Add to that audits that are being made by known professional audit firms.

Q3. What value will Dot Finance add to the Polkadot ecosystem and also to the DeFi world? What makes Dot Finance unique when you compare it to its competitors?

Q4. NFT is considered the next trend so HOT right now of the crypto industry after DeFi. Could DotFinance share your opinion about NFT? Where do DotFinance see the future evolution of NFT features and capabilities in the next few years?

Ans — Well NFT is a hot buzzword as for now, we see it nft as more of a financial opportunity rather than what it is mainly used today.
so i think it is still early to implant financial products that will utilize nft features, however, when with the growth of the market and most important "maturity" we will defiantly consider new Defi products based on NFT.

Q5. As a Defi Project, it will not complete without Yield Farming. So what is percentage reward that user will got from Dot Finance farming?

Ans — Our farms will utilize various farming optimizations strategies that helps farmers earn the highest return possible. our farms will uses smart contracts to automatically compound your returns at the optimal frequency to increase your APY while keeping costs at minimum by batching transaction across the farm participants.
our first farm will compound yields from pancakeswap polkadot farms.
so if you defiantly competitive for any other yield farming out there.

Q6. When did Dot Finance decide to roll out Dot Finance Token Public Sale? Can you tell me how to participate in Dot Finance public sale?

Ans — We will have a token sale planned for the 7 on june, token sale will be on 3 ido platforms.
1 of them is poolz.
2 other we will announce in a week but they are well known.
so you can use either of the 3 ido platform to join the IDO

Q7. Currently the technology is changing every second, is DotFinance afraid in the future its project will be lagging behind new projects with newer technology? Does DotFinance have a plan for this?

Ans — Our team is one of the best in Crypto Defi, not sure there is a technology you can throw on us we will not be able to handle.
as the progress of the cryptosphere we will make the proper adjustments and collaborations, however for now, we do see the polkadot network as key player in the future of crypto.

Here are some important links of Dot Finance👇

🌎 Website: Dot.Finance
📱 Twitter: twitter.com/dot_finance
📢 Telegram: t.me/Dot_Finance
📚 Medium: dot-finance.medium.com

BlockTalks x Dot Finance AMA Transcript!

Introduction Questions Asked By Team BlockTalks!

Questions Asked on Twitter For Dot Finance Team!

Questions Asked by our BlockTalks Community Members during live Session to Dot Finance Team!!

Here are some important links of Dot Finance👇

Written by Block Talks

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