BlockTalks x ImpulseVen AMA Transcript!

Hello! BlockTalkers & Blockchain Enthusiastic!

We recently hosted an AMA with ImpulseVen, on April 23rd at 1.00 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 Amit Debnath, Lead developer at ImpulseVen. 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 ImpulseVen to our community in layman’s term?

Ans — ImpulseVen is a complete Decentralized Finance ecosystem that offers a range of solutions, including lending, staking, farming, trading, and a decentralized exchange all in one suite.
ImpulseVen is so user-friendly, that it enables anyone to have access to this decentralized finance platform easily.

Q2. Explain the main features of the ImpulseVen DeFi project?

Ans — The revolutionary ImpulseVen stack makes us the one-stop shop for everything in DeFi.

AI Arbitrage Trading Bot-
While all the product features of ImpulseVen’s platform make us unique, it’s our AI arbitrage trading bot that automatically executes profitable cross-platform trades that truly sets us apart.
ImpulseVen’s arbitrage trading bot will monitor different decentralized exchanges to identify price discrepancies between token pairs. Users can then capitalize on such discrepancies by placing profitable trades directly in our app. To ensure that users can take advantage of every opportunity, our bot will be configured for high throughput, capable of executing thousands of transactions per second across multiple exchanges simultaneously.

DEX
The ImpulseVen DEX is a fourth-generation exchange platform that is focused on cross-chain and non-custodial transactions. It features an advanced order book that allows for derivative and futures trading and up to 20x leverage on perpetual contracts.
Staking-
Our staking service for VEN (ImpulseVen’s ERC-20 token) is equipped with a unique protocol that offers an array of advanced features that includes a mechanism that is designed to offer 80% of the fees generated from all VEN transactions as dividends, to be shared between all the stakers.
These dividends start accumulating the moment VEN tokens are staked, and the payout of dividends is made once every 3 days. This dividend will be automatically added to the staked tokens, thereby gradually increasing the amount of staked VEN.
Users will be able to access all product and service offerings in the ImpulseVen ecosystem through a single dashboard with customizable features and the highest standards of security, reliability, and transparency in the industry.

Lending-
ImpulseVen is already building the underlying infrastructure for our lending platform. It will be a decentralized solution that serves individuals and businesses alike.
Users will be able to borrow stablecoins through the platform after depositing a variety of crypto assets as collateral. The platform intends to offer maximum convenience to borrowers by minimizing interest rates. With ImpulseVen’s Lending platform, borrowers can earn passive interest in the form of VEN token variants by borrowing secure coins. Additionally, investors involved in staking or those contributing tokens towards the lending pool will also earn stablecoins as either interest or rewards.

Farming-
Yield Farming, also known as Liquidity Mining, is an opportunity to earn passive income for cryptocurrency holders.
ImpulseVen implements a flexible Yield Farming program that offers attractive annual percentage yields in the form of VEN tokens. The liquidity secured through Yield Farming will be instrumental in helping the project further strengthen its DeFi offerings.

Q3. What have you developed and released up to now? Where have you reached with the development works?

Ans — Firstly, our smart contracts have been developed and the same were audited by Blockchain Consilium. The Staking platform has already been developed and was launched in March 2021. At the moment our Team of Developers are working on the Farming platform which is nearly completed and testing being done. The launching of the Farming platform is scheduled for this month itself.

We need to highlight that our roadmap milestones are being respected and launches are being done on time. This proves that ImpulseVen is a serious project and has a really dedicated team to make things happen. More updates about the project progress will be shared with our community and the public in general. You may check our progress with our roadmap on our website www.impulseven.com.

Q4. Has ImpulseVen token been listed on CEX and DEX? Will there be more listings? If yes, where pls?

Ans — Ven Token has been listed on Uniswap and one CEX. More listing on other exchanges will be done very soon….e.g Coinsbit Global and Coinsbit India. We are actually in discussions with several exchanges and . Announcements will be done shortly. Please follow ImpulseVen updates by joining our Community Groups:

Telegram: https://t.me/impulsevendefi
Community: https://t.me/ImpulseVen
Medium: https://medium.com/@impulsevencoin
Twitter:https://twitter.com/impulse_ven
Website:- https://www.impulseven.com

Q5. What are the APYs on ImpulseVen staking platform? What are the steps to follow to stake your Digital Assets?

Ans — ImpulseVen Staking Platform was launched in March of this year and the APYs being offered are really attractive:

ImpulseVen offers good and interesting APYs for staking. Please find below the easy steps to follow to stake your VEN Tokens with us and benefit from high APYs.

Stake with ImpulseVen in only 4 Steps:
Step 1: Visit https://stake.impulseven.com
You will see the various staking pools.
Step 2: Choose your desired staking option and connect your wallet.
Step 3: Stake your tokens
Step 4: View your staked tokens in the ImpulseVen dApp and monitor your rewards.
You may also read this medium article about ImpulseVen Staking: https://impulsevencoin.medium.com/impulseven-staking-is-now-live-e7d5774f7cec

Q6. What are the security measures that the ImpulseVen developers have taken?

Ans — Impulseven has already implemented some robust security measures in respect to various types of attack.

The two main ones are as per below:

Chain operator is corrupt
The user is corrupt

In either case, if a user’s assets on the plasma chain have been compromised, they’d need to start mass exiting. Impulseven provides constructions on the rootchain smart contract that can be leveraged.

Security offered by Impulseven Plasma contracts piggybacks on Ethereum’s security. Users funds are only ever at risk if Ethereum fails. Having a plasma chain is as secure as the main chain consensus mechanism.

For developers

As a DApp developer if you’d like to build on Impulsevens with a Plasma security guarantee, you are required to write custom predicates for your smart contracts. This basically means writing the external contracts that handle the dispute conditions set in place by the ImpulseVen Plasma constructs.

Hybrid

Apart from pure Plasma security and pure Proof of Stake security that is possible in DApps deployed on Impulseven there is a Hybrid approach that developers can follow - which simply means having both plasma and proof of stake guarantees on some particular workflows of the DApp.

This approach is better understood with an example: Consider a gaming DApp with a set of smart contracts that describes the game’s logic. Let’s say the game uses its own erc20 token to reward players. Now, the smart contracts defining the game logic can be deployed on Impulseven sidechain directly guaranteeing Proof of Stake security to the contracts. The erc20 token transfer can be secured with Plasma guarantees and fraud proof embedded in Impulseven root chain contracts.

Q7. Does ImpulseVen have any expansion plan in Asia, Africa and Europe?

Ans — ImpulseVen has a clear and well-defined expansion strategy on these 3 Continents. We have already started the execution of our plan. ImpulseVen has been scrutinising the different markets and will be working with some Key Partners. Several AMAs will be conducted in multiple Crypto Communities in different countries in the next coming 4 weeks. ImpulseVen will also be partnering with some Top Influencers too and organise lots of webinars and talks to spread the words about ImpulseVen. The success of any Decentralised Finance project depends on the mass adoption of its services. So, please don’t hesitate to share information about ImpulseVen DeFi ecosystem with your peers.

And We have an expansion plan for the middle east too.

Q8. ImpulseVen was developed on Ethereum Blockchain. Do you think the high gas fee would be a major problem for ImpulseVen? Is the team working on a solution with regard to this issue?

Ans — Yes for every new project high gas fees is a problem but we know how to tackle this specific issue. We will make our new derivative platform where we will be using our layer2 solutions. Users can also trade Ven tokens and other erc20 tokens and will be charged a minimum gas fee.

Layer 2 refers to a secondary framework or protocol that is built on top of an existing blockchain system. The main goal of these protocols is to solve the transaction speed and scaling difficulties that are being faced by the major cryptocurrency networks.

In a broader sense, layer 2 protocols create a secondary framework, where blockchain transactions can take place independently of the layer 1 (main chain). For this reason, these techniques may also be referred to as “off-chain” scaling solutions.
One of the main advantages of using off-chain solutions is that the main chain doesn’t need to go through any structural change because the second layer is added as an extra layer. As such, layer 2 solutions have the potential to achieve high throughput without sacrificing network security.

In other words, a great portion of the work that would be performed by the main chain can be moved to the second layer. So while the main chain (layer 1) provides security, the second layer offers high throughput, being able to perform hundreds of transactions per second.

Also, it is good to highlight that Ethereum is shifting from proof of work to proof of stake and that the fees would be much lower.

Q9. In your Whitepaper, you have mentioned about an AI Arbitrage Trading BOT and a Derivative Platform?Can you please give more details about these?

Ans — It is the very first time in the decentralised finance space that a project is using AI to trade. Here are the rationales and benefits of using AI:

We are using AI to feed our smart contracts so that it can detect any price slippage and profit. This AI Arbitrage Bot will make sure there is no front running happening during the trade. First of all, we collect the data from the exchanges by the help of API keys. Then the data is being sent to our cloud centralised server and it will automatically try to find a match. If there is a match, the system will call to your smart contract and then the AI Bot calculates the profit and makes it happen in a fraction of a sec. It is a simple process yet very risky. We are going to cut off all the risk factors from it. There are a lot of holders in the crypto space who have huge amounts of assets and they can benefit from this AI Arbitrage Trading Bot services and make good profit. ImpulseVen has other services where small assets holders can send their assets into a smart contract pool. The Smart Contract will execute all the arbitrage opportunities and make profits. The profits generated will be then distributed to all investors. The investors will be able to generate profit nearly everyday if there are Arbitrage opportunities.
ImpulseVen is going to launch a Decentralised Derivative platform too where users would be able to swap their ERC20 tokens. They would also be able to leverage on our CLP pool too - Up to 20%.

Questions Asked on Twitter For ImpulseVen Team!

Q1. DEFI is evolving too fast and the ability to break is very high. What do you think about this and can you be sure that ImpulseVen's products will be demand in the long term? What is Impulse Ven planning to contribute to DeFi's growth?

Ans — The total DEFI Market Capitalisation has reached $95.76B as at today. It is true that it is evolving rapidly but we are not too agreeable about the fact that the risk of breaking is high. There is enough space for several Defi to survive. For ImpulseVen, we are launching lots of services like Staking, Farming, Lending, Borrowing, Derivatives Platform, DEX and our famous AI Arbitrage Trading Box. All our platforms are very user friendly and the APY proposed are very interesting and attractive. The impulseven team is confident that many users will be using our Defi Ecosystem because it is one which will work for its users. For example, 80% of the fees generated for the staking platform will be redistributed to all stakers. Defi is all about Decentralisation, reducing fees for trading, earning good rewards for staking, farming, lending etc. Impulseven will definitely contribute to the growth of Defi in the Middle East, Asian, European and African regions.

Q2. What do you think about the boom of the NFT + DeFi association that is causing so much interest in the world? How does Your Project take advantage of and exploit this reality?

Ans — Yes, NFT is booming actually and lots are happening in this space. Our developers team has already explored same and will come up with a new product proposal soon. Same will be reviewed by the core team and will make announcement soon.

Our Lead Developer Amit, is a great visionary and he is driving the team with strong hands.

Stay tuned. Join our telegram group to follow our updates.

Q3. Reading about IMPULSEVEN,I was struck by the fact that they have ERC20 mechanism, and they offer that the first 3 months is 0 fees,my question is: how do they sustain the structure of the project by not charging fees for the first 3 months,does this affect IMPULSEVEN's liquidity?

Ans — Yes, Impulseven wants to encourage its users with the zero fees for the first 3 months. ImpulseVen will take charge of the trx fees during the period. This will have a little effect on the liquidity but we have already made provision for this. We want to give our users this particular benefit for the first 3 months. We will cover this cost thereafter. At ImpulseVen, we are not greedy and we want a Defi ecosystem which will work in the interests of its users.

Q4. How the ImpulsVen's trading bot will be different from other arbitrage bots available in the current market, is there real time settlement?

Ans — Our AI trading platform - We are going to change the game with our AI arbitrage trading Bot. Investors with small investments amount would be able to earn regular profit. Everyone will be able to send their assets and benefit of arbitration. It is fast, cheap and users will be hassle free, everything will be done automatically by the Bot, by simply sending their assets to the pool. After the process is completed, funds will be sent automatically to the users wallel. This is how Our AI Bot is different from the other normal arbitrage techniques. User dont need to do the job by themselves but the Bot will do the jobs for them and they simply enjoy their profits.

Q5. Talking about the different ways to acquire their VEN tokens, they say that users can deposit their digital assets to obtain passive income in $VEN, but which assets can users deposit? And can you do Staking with $VEN? What would the APY be?

Ans — The VEN token can be acquired from Uniswap and Bilaxy at present. Other CeX listing on the way so after that anyone can buy from there.
The passive income means the income from Staking, you can stake the VEN token in any of the three options, the link of staking is given below.
You just stake VEN token and YFDAI token and you can get VEN tokens . the staking in other Token is not yet available, only VEN tokens can be staked and YFDAI tokens can be staked to earn VEN tokens.
THE APY and all, pls check our detailed article on medium, here is the link.

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

Q1. Is ImpulseVen an all in one platform?

Ans — Yes you can say that we have everything in one platform they are staking yield farming lending borrowing au trading bot derivative platform nft dao everything our main goal is connect a user and give him ever what he needs in a single platform.

Q2. Partnerships are crucial for Adoption, so can you tell us what partners you have currently and future partnerships?

Ans — Our main partners are YFDAI and Duckdao. But we are going to conclude more partnerships soon. We had nearly 15 meetings with potential partners, DAFI, Kairon Lab, Ferrum, Coinsbit, Stex, etc More announcement will be done soon.

Q3. What is the mission of IMPULSEVEN in the competitive market of cryptocurrencies? And what marketing strategies are you willing to use to achieve greater adoption?

Ans — Like mentioned earlies, we have a clear marketing plan. We want to reach out to the global audience with the right and strategic partners.

Q4. At this moment, which one the most Necessary for your project:

1. Investors
2. Community
3. Market/Exchange

and why?

Ans — For us right now everything is important a good exchange from where user can trade our tokens a strong community who will support us and they can use our services without any problems.

Q5. While you build your project, do you take into account community feedbacks and demands?

Ans — Of course, we listen carefully to our community and take their feedback on board. We discuss internally and make corrective actions.

Q6. How do you plan to spread awareness about your project in countries/regions where English is not spoken well like Indonesia, Vietnam, India, Bangladesh and Iran, do you have local communities for them to make them better understand about your project?

Ans — Yes of course we are going to acquire non native English community members who can spread the knowledge between those users who are not speaks English.

Q7. From a startup project to a mainstream project, being a pioneer in the industry, does the team anticipate that many new startup will shows up and compete?

Ans — Yes we do. But we are ready to gear up the level when we will be growing. The team will grow too and we will be working with more Influencers.

Q8. Can you list 1-3 of the deadly features of this project that made it stand out from its competitors? What competitive advantage does your project have that makes you feel the most confident in yourself?

Ans — We have a unique staking platform and it’s been live from last couple days you can check by clicking https://stake.Impulseven.com and after that we will going to launch our unique au trading bot and of course your decentralised derivatives platform.

Here are some important links of ImpulseVen 👇

🌎 Website: www.impulseven.com

📱 Twitter: twitter.com/Impulse_ven

📢 Telegram: t.me/ImpulseVen

📚 Medium: medium.com/@impulsevencoin