BlockTalks x Lana Finance AMA Transcript!

We recently hosted an AMA with Lana Finance, on April 28th at 9 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 Mr. Benfiso, CEO & Founder at Lana 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 Lana Finance to our community in layman’s terms?

Ans — Well as we always describe our project, LANA Finance is an algorithmic stable Defi protocol with collaterals running on Solana. We can proudly say that our project is the first one of its kind on this platform

Apart from the others, our system provides 3 tokens including LANA, LSHARE and LBOND. Our LANA token is pegged with the price of 1 SOL

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

Ans — Although the concept might sound familiar to some other projects, we plan to develop our protocol in a bit more different way.

As we have mentioned above, our protocol came with 3 tokens: LANA, LSHARE AND LBOND. Instead of a fiat currency, we have chosen to peg our main token LANA directly with SOL- the native token of Solana system. We have researched carefully to build a mechanism, which involves LSHARE and LBOND

With this mechanism, we believe that we can effectively control the price of LANA around its peg and maintain our protocol for a long run

Yeah, if you want to know more about our mechanism then you can visit our documentations at https://docs.lanafi.app/ or join our telegram group at https://t.me/lanafiprotocol to discuss with the others

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

Ans —Our project was launched on February 17 with our token LANA issued on the same day but we have taken some more time to carefully build up our system to make sure everything work smoothly

So after a long and cautious process of developing and testing, we have officially brought our project to the light on April 20 with the opening of our fair launch. There are 4 pools included in our fair launch and our TVL reached $400k after just one hour, which is an incredible signal for us

One week after the fair launch, we have opened our Share pools. Users can now add LP into 2 pools, SOL/LANA and SOL/LSHARE pools, to earn back LSHARE

Questions Asked on Twitter for Lana Finance Team!!

Q1. LANA Finance Share Pools have been available for a few hours now. What exactly does this pool system consist of? What requirements must we meet if we want to participate in it?

Ans — First of all, thanks for your interest in our new Share Pools, which have just gone live recently . Since they are open for everyone, there are no specific requirements for the participants. Our Share Pools currently consist of 2 LP pools: SOL/LANA and SOL/LSHARE, in which users can add LP to earn LSHARE token.

Q2. I understand that $LANA intends to become the main utility token in the Solana ecosystem, however, LANA Finance is not simply a DeFi protocol, but will develop as an ecosystem revolving around $LANA. So what is the use of $LANA as the epicenter of the ecosystem? What are the benefits that $LANA will bring to investors? What kind of users is $LANA designed for?

Ans — Yes, it is true that we have a plan to develop LANA Finance into a broader ecosystem revolving around LANA. As the ecosystem grows bigger, the use cases of LANA will also be expanded. You can refer to our roadmap here https://docs.lanafi.app/protocol/roadmap for a better view. In the future, we plan to develop the NFT and NFT marketplace. Gamefi, DAO Fund are also things we are heading for

Q3. I understand LANA is a stable DeFi protocol with a guarantee on Solana. I want to know, why did you choose Solana? By using Solana as the core network of your project, how can this benefit users when seeking comfort for their assets in volatile situations?

Ans —Great question! When we were in the first stage of researching for a suitable platform, we were really confused since there are so many platforms and each one of them has specific strong points

But in the end, we had seen the great potential of the Solana system so we decided to choose them as the home for our new project. Everybody heard about their speed, 400 millisecond block times, that is strikingly fast

We believe that, as the most performant blockchain and one of the fastest growing ecosystems in the crypto world, Solana will bring huge support not only to our protocol but also to our community along the wa

Q4. LANA Finance recently open 2 share pools: LANA/SOL and LSHARE/SOL. I saw that their APR are quite high, how do you achieve this and how will you be able to maintain it? Also, do you plan to only have this 2 pools, or do you plan to add more? If so, which pairs will you add next?

Ans — Once again, many thanks for your concern for our Share Pools.

The incredibly high APR we achieve actually results from the market. Our project is quite new in the crypto world and we are trying to bring it to a broader community. You are lucky enough to know about us in such an early stage to enjoy the high APR at the moment.

Q5. Can you please tell us more about the LBOND mechanism? If you could further break it down in such a way that a layman could understand? Also, at which period can LBOND be purchased and is there a limit to the number of LBONDS that can be purchased? Lastly, what could trigger the protocol to go into an expansion phase?

Ans —LBONDs are tokens that are used to balance the LANA price around peg by cutting down its circulating supply during contraction. That means, when LANA price falls below its peg, LBOND will be issued and users can swap their LANA for LBOND. As a result, the shortage of LANA raises the demand for this token in the market which can theoretically increase the price

That means, LBOND can only be purchased during contraction and you can buy as many LBOND as you want, there is no limit at all. You can read more about this mechanism in our documentation

For the future we have many plans to expand our ecosystem and this will increase the use cases of LANA, which will surely bring the protocol into expansion phase.

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

Q1. It caught my attention that in the next few months they would launch “Game integration”, does that mean that they will seek to integrate this algorithmic stable coin to multiple games in this Solana network?

Ans — This one also. There’s no limit to any game, as long as they have great potential. They could be either on blockchain or not, and we seek solution for multi-chain games as well

Q2. Do you have a AUDIT certificates?

Ans — Yes, our project is audited by Interfi, as we announced on our twitter https://twitter.com/lanaprotocol/status/1506913478929387524

Q3. IS This Your project only for elite investors, how about others with small funds, is it open to everyone?

Ans — Yes, our project is open for everyone. You can join in our fair launch to earn LANA through our seeding pools

Q4. What types of activities do you encourage in your community for development and growth and where do you want to go being number 1 in the Solana Blockchain so far?

Ans — I’m glad you ask, we will hold many events, airdrop and giveaway for example. So stay tuned for the upcoming news from us

Well those are the best questions that I found here.

Here are some important links of Lana Finance 👇🏻

⦿ Website ⦿ Twitter ⦿ Telegram

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BlockTalks is all about Blockchains & Crypto. We do discussions about new Blockchain projects, the innovations & such more.