BlockTalks x Pandora AMA Transcript!

Hello! BlockTalkers & Blockchain Enthusiastic!

We recently hosted an AMA with Pandora Protocol, on May 17th at 3.00 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 Ankit Raj, Product Lead at Pandora Protocol. 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 Pandora to our community in layman’s term?

Ans — Pandora is a hybrid Open Finance solution for the problems faced by both traditional finance and decentralised finance. We envision the transaction of real-world assets on the trustless and decentralised platform in a borderless economy. Our scalable, interoperable and high throughput infrastructure converts the illiquid state of NFT to the liquid state for both Real-world and digital assets.

Technically, Pandora is the middle layer solution that is inducing liquidity to NFT created on Pandora and other platforms. Developers can also plug and play their Dapp to the Pandora Protocol and provide liquidity to the user’s NFT.

You can also read our founder blog https://medium.com/pandoraprotocol/introducing-pandora-real-world-assets-backed-nfts-1d5e297f2e39

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

Ans — We provide a liquid infrastructure protocol where any assets can be tokenised in liquid form and can be further traded as swap, lend, borrow, or derivative trade. For those NFT generated on other platforms, we are bringing innovative mechanism to bring liquidity via PiNFT. PiNFT is a novel approach to get liquidity in any NFT and make it tradable to a cross-chain platform.This is something that makes Pandora unique. Instead of competing with other NFT platform, it is helping another platform to grow.

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

Ans — In a short period, we were fortunate to build the beta version of our product with very few team members.

Along with that, we have also closed a small amount of early-stage of money to develop the product. On the business side there are 3 products getting built on Pandora.
Our roadmap is built on quarter to quarter basis.
First-quarter we were able to build a Beta version of the product and secure a small fund to develop the product.

In the second quarter, we are going on main-net along with a token launch event.
For the third quarter, we will be working on cross-chain transaction and other innovations.

For last quarter we will start working on DAO structure of Pandora.

Details on Roadmap we are publishing soon on our social media handle.

Questions Asked on Twitter For Pandora Team!

Q1. On your Website there's new upcoming products which were quoted as "Coming Soon". Can you tell us more about different Products getting build on the Pandora stack? When will be this products launched?

Ans — Yeah, there is exciting development going on in that vertical. As of now, 3 products are getting built on the Pandora stack.

KylyX : A marketplace for digital and real-world assets.
BOX: A innovation zone built on top of Pandora SDK where cross-chain transaction and few other exciting features coming up.
Kalel: A social token NFT dapp getting built on Pandora.

All three projects are getting built on Pandora and boosting up the NFT ecosystem. More details around that are coming soon.

Q2. They recently announced their partnership with Unmarshal in order to "leverage their data indexing API to get metadata relays", but could you really explain in more detail how beneficial this partnership is to the NFT trade?

Ans — Pandora works in NFT space and Unmarshal works in data indexing space.

While making trade of NFT, there are lots of parameters like price, owner, and other data points used for making decisions before doing trade.
Partnering with Unmarshal, these data points will be available in the Pandora Stack itself. We have put the article around it as well. You can read more details at https://medium.com/pandoraprotocol/pandora-partners-unmarshal-to-leverage-its-data-indexing-api-for-richer-nft-metadata-relays-fa87213a6315?source=collection_category---4------1-----------------------

Q3. Within your scheme and design of borrowing real world assets without intermediaries, it is extremely striking and innovative, but my question is are they purely decentralized? and is your technology audited by which recognized companies?

Ans — Yes, this project is completely decentralized from day1. Anyone can build the product on top of it from anywhere. We have released the beta version of our SDK, which any developer can spin NFT dapp from development.
Yes, we are getting audited by the security firm Zokyo. It’s in progress as of now.

Q4. The Pandora Protocol has an architecture very modular and is very important to create a P2P ecosystem reliable and safe for everyone, do you plan to use a KYC / AML model for P2P transactions for NFTs?

Ans — Technically, Pandora is the middle layer solution that is inducing liquidity to NFT created on Pandora and other platforms. Developers can also plug and play their Dapp to the Pandora Protocol and provide liquidity to the user’s NFT. So as an infrastructure provider, we have very little to do with regulation.

Its upto the product owner how they want to go with product.

Q5. I saw that you are the first protocol to bring continuous double performance through algorithmic smart contracts. Could you talk a little more about this? What are the benefits of such a double performance protocol? And how would such a protocol help the Pandora ecosystem?

Ans — We are also giving double yield on the NFT created or traded at Pandora. This converts depreciating assets into positive yield generating asset. This whole process is done via bridging Web2 assets on on chain ecosystem. Market size opportunity is more then 300 trillion dollars.

And this is the one of the core features of Pandora.

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

Q1. Kylyx, Caja and Kalel are the products that will be developed in Pandora soon, but really with them, but are these products similar to those existing in other platforms? or are they really all totally innovative in DeFi?

Ans — KylyX: KylyX is the marketplace for digital and real-world asset NFT with cross-chain functionality
BoX: Box is the surprise box where lots of innovative features like liquidity induction n NFT via PiNFT’s are there.
Kalel: Kalel is the social token dapp built on Pandora SDK.

Q2. Your Pi-NFTs are backed with real-world assets. What are these assets backing your Pi-NFTs? How are your Pi-NFTs different from others? By being backed by real world assets, how does this help produce maximum value and scalable growth without negative plateaus in your pricing?

Ans — Any kind of social skills like digital art making, NFT creation etc.

Q3. Can you list 1-3 killer features of Your Project that makes it ahead of its competitors?

Ans — Pandora is not competing with any other project; infact, it is helping other projects to grow just by inducing liquidity in it.

Apart from liquidity, there are many other features the Pandora Stack is coming up like cross-chain transactions, dynamic NFT, PiNFT and many others.

Q4. Wich will you consider that is the main feature of Pandora technology and products that you could say that it will help you succeed in the future goals on the roadmap of your project?

Ans — 1. Bringing liquidity in the NFT Space. 2. Cross chain transaction 3. Dynamic Pricing

Q5. Now that technology is changing every second, are you afraid that in the future Pandora Protocol will lag behind new projects with newer technologies? Do you have a plan for this?

Ans — That’s a good thing. We are not afraid of it because we are moving with the innovative approach.
Our PiNFT and liquidity Induction model in NFT’s will stand us out from others. Also, we keep on doing the latest innovation and integrating with our product. All these make us ahead in space.

Q6. What are your listing plans like? Especially those involving the major CEX and DEX exchanges?

Ans — Will release article on it.

Q7. What do you think is the biggest problem Pandora Protocol will solve which is not solved by other projects and why is the problem important to solve?

Ans — liquidity in the NFT space.

Q8. As an individual user ,In what ways can I contribute to the development of Pandora Protocol project?Do you have Ambassador programs and what are its benefits?

Ans — We have our Ambassador Program coming for each region. We will announce about it very soon. For referral we don’t have any such rewards. But we will have grants for the devs building product on Pandora.

Q9. How many partners have currently trusted Pandora technology and what benefits do these partners bring to Pandora?

Ans — OroPocket and Unmarshal and few others are coming as well. https://medium.com/pandoraprotocol/partnerships/home

Q10. Liquidity and transaction fees are always important factors. How does Pandora Protocol solves the above problem to attract users?

Ans — Via PiNFT.

Q11. In Pandora any digital NFT can use double yield. What are the benefits of double yield farming?

Ans — Double Yield will give you double return.

Q12. In an article on Medium I read that Pandora is working on the creation of real-world asset tokens through dynamic NFTs. Exactly what are these dynamic NFTs and what differentiates them from traditional NFTs? What advantages and benefits would this type of NFT bring to users?

Ans — Dynamic NFT are those NFT whose price changes wrt time. There we are using Oracle to predict the price.

Q13. Is there at this moment any company or customer who has already tokenized any asset with you, can you tell us about your experience?

Ans — 3 product are getting built on Pandora Stack. Kalel, Box, KylyX.

Q14. After the attack of the Kucoin exchange, the security issue has been mentioned many times and is being worried about. Is Pandora Protocol confident about the security of your platform? Can Pandora Protocol share more about Pandora Protocol security technology?

Ans — Before releasing any code we are making sure our code is audited.

Here are some important links of Pandora Protocol👇

🌎 Website: pandora.finance
📱 Twitter: twitter.com/PandoraProtocol
📢 Telegram: t.me/pandoraprotocol
📚 Medium: medium.com/pandoraprotocol