BlockTalks x KYTE AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with KYTE, on April 22nd 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 Thuc Vu, CEO of KAMBRIA. 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 KYTE to our community in layman’s term?
Ans — Yeah absolutely. KYTE is the latest Defi initiative from Kambria to help finance open innovation projects on our platform, and also to reward our token holders. KYTE stands for Kambria Yield Tuning Engine.
With our background in AI & Robotics, and a huge network of very smart and savvy community members on Kambria platform, we believe that we could do a really good job at figuring out a way to optimize the yield for our token holders.
It could be either through utilizing machine learning algorithms or crowdsourcing the best farming strategies from our open platform Kambria.
Q2. What are the advantages of KYTE to other alternatives in the Blockchain field?
Ans — As the Defi space exploded in 2020 and 2021, yield farming became one of the major ways that token holders can gain value from their holdings. But there are so many different farming platforms to choose from. And it’s not clear where the best option is.
We want to solve that challenge for our holders, to automate this process of maximizing the yields.
There are some existing projects that have the same goal, but we are developing new algorithms to do this in a much more efficient way.
Q3. What are the major milestones KAMBRIA achieved so far & what are in the future pipeline?
Ans — We launched our Open Innovation Platform in 2019 and since then have been focusing on building a strong community. We have developed a global network of developers and enterprise companies through hackathons and events across several continents.
For example we launched the Vietnam AI Grand Challenge, that involved 1000+ developers, and 100+ teams, 10+ events and competitions with the prizes totaled more than $40k. Several teams coming out of the Grand Challenge got acquired or partnered by big corps in Vietnam.
We have also built and launched several educational programs on Kambria, to help developers learn, compete to show off their capabilities, and get rewarded (and hired by large corps).
This year we continue to expand on our activities through three major area:
1. Kambria Knowledge Base -- Kambria EduKATion
2. Kambria Ambassador Program (KAmbassador)
3. Kambria Global Grand Challenge (KGGC)
Questions Asked on Twitter For KYTE Team!
Q1. In the bad situation of the Covid-19 epidemic, every industry was heavily affected. Does it affect on the growth of Kambria team and its ? What are your plans to turn challenges into opportunities for Kambria Development?
Ans — We’re actually quite fortunate in that regard. From very early in the beginning of the pandemic, we were allowed to obtain approval as an essential company. We quickly implemented the recommended guidelines and took it very seriously. Because much of our team can work from home, we had very little downtime during the transition.
The challenge of COVID-19 itself was directly turned into an opportunity because of the increased need for new technology such as robots throughout healthcare, education, senior care, and enterprise.
There has never been greater demand for automation and companies are turning to various frontier technologies to solve their problems and keep their business driving forward. That’s where both Kambria and our sister company, OhmniLabs, have put forth tremendous effort, and we have grown.
Q2. You said that "Kambria is community-based project". So, What other community activities do/will you do for development and recognation?
Ans — Community is absolutely central to Kambria because open innovation is predicated on the participation of many to achieve specific goals.
Rather than having important new technologies being developed by a small handful of major companies, teams of developers and entrepreneurs have the opportunity to share ideas and collaborate from anywhere in the world to create and build something new.
Q3. As a developer how does Kambria bring together companies and innovators to create advanced technology solutions through K-prize prizes and hackathons directly on which platform will you use?
Ans — We are able to bring together both enterprise companies, innovators, and developers through incentives and protection of new technology. Essentially companies can put out a bounty to develop a new solution for their business needs. And developers can collaborate to solve the challenge, and win the bounty.
A really cool direction we are exploring is to convert the IPs developed by the community on Kambria to NFTs and reward the inventors through KYTE.
If you think about it, NFT is a perfect fit for patents.
Q4. I care about incentivization, what incentives are in the Kambria ecosystem for users and ecosystem providers,so Why should I use Kambria? Let me know more about you.
Ans — As I mentioned, one of the core components of Kambria is rewarding innovators through bounties, online hackathons, etc. So once you win the bounty, you will get rewarded in our other tokens KAT. But one other area we really want to do well is to protect the IPs of the innovators as well. To do this, we are leaning on the community to detect and report violations of IPs. And will take legal actions against violators.
So by participating in Kambria ecosystem, you get both, rewards and protections.
Q5. DeFi is such an important thing in the current blockchain space, can you share their opinion on DeFi? Do you think DeFi will disrupt the current financial system or do you think we can live in a balance where both systems can work together?
Ans — Yes, we absolutely agree that DeFi is important. It will disrupt the current financial system bu providing people with equal and permissionless access to financial services and the opportunity to participate in lending, borrowing, staking, and farming is something we definitely wanted to be a part of. That’s why we created KYTE.
I’m sure that both centralized and decentralized finance will find their places in this world, and I don’t see one overtaking the other any time soon, but I know this: that when people have options, that usually is a very good thing for society as a whole. Competition breeds innovation, and we love to be a part of that.
Questions Asked by our BlockTalks Community Members during live Session to KYTE Team!!
Q1. I understand that Kambria is a project that provides robotics and AI solutions, but I would like to know what role blockchain and DeFi play in all of this. How do you manage to integrate these two technologies and empower robots?
Ans — It seems like AI/Robotics/Blockchain/Defi are the technologies that emerging as the winners after the pandemic. They all come together to accelerate us to singularity ;) To answer your question shortly, Blockchain helps us attribute and reward innovators of new AI/Robotics technology, and KYTE help us finance the new projects.
Q2. Collaboration and partnership are some of the most important platforms to help improve adoption. Can you tell us about current Kambria partnerships, the plans for the partnership, and what people can gain from these partnerships?
Ans — We have partnerships with existing major blockchain projects, investors, universities as well as large corporations. Simply put, the corporations will provide the demand for new technology, while the community will work with other sections to help develop these. You can check out the list of our partners below.
Q3. Can you tell us more about Kambria partnereship with Polygon, What are the benefits that this partnership will bring to users of both platforms ?
Ans — Yeah of course, we are very excited about leveraging Layer 2 scaling technology from Polygon to reduce time and cost for our token utilities. They also have existing platform for NFTs, which will be useful when we start working on our IPs idea.
Q4. I hope we can earn KYTE by staking KAT- ETH with Liquidity pool in the future. Or make the stacking program for KAT holder to earn KYTE too.
Ans — That’s a great idea. We’ll think more about this. Right now you can stake KYTE on GUM with a really good APY. Something you might want to take advantage of.
Here are some important links of KAMBRIA 👇
🌎 Website: kambria.io
📱 Twitter: twitter.com/KambriaNetwork
📢 Telegram: t.me/kambriaofficial
📚 Medium: medium.com/kambria-network