BlockTalks x Pandora Protocol AMA Transcript!
We recently hosted an AMA with Pandora Protocol, on August 26th at 2 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 Sayuj Kumar, Business Development Manager & Vibhav, Operation Manager 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 Protocol to our community in layman’s term?
Ans — Pandora is founded by Pushkar Vohra (CEO), who was previously part of EthLend(now AAVE) and many other DeFi projects.
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.
Technically, Pandora is the middle layer solution that is inducing liquidity to NFT created on Pandora and other platforms.
Q2. What are the advantages of Pandora Protocol to other alternatives in the Blockchain field?
Ans — Unlike other platforms that are based out of NFT based platforms doesn’t provide you liquidity against your NFT’s . Also it doesn’t allow to draw out the proper value of your Assets. With Pandora’s protocol Dapps and strong tech architecture . You can easily Liquidate an asset and get to know the perfect value of your existing assets or NFT’s.
That is why we are including an Indexing based feature that allow us to have assets from another platform and show their perfect value .
It would be like an Amazon for Assets if all the other platforms wil start collaborating with us. Right now we have only major collabs . But still a long way to go!
Q3. What are the major milestones Pandora Protocol 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 which will be on Ignition launchpad on 30th August (Monday)
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.
Questions Asked on Twitter For Pandora Team!
Q1. I’ve seen that Pandora has partnerships with Oropocket and Unmarshal. How will this strategic partnership help the ecosystem and growth of Pandora and your community? And What other partnerships have you had so far?
Ans — Our partnership is an ongoing activity. As of now we have did partnership with OroPocket and Unmarshal.
With Unmarshal we have partnered for data indexing API for the NFT ecosystem Whereas, with OROpocket we have partnered to provide liquidity to the tokenized asset on their platform and cross-chain transactions. Both the partnerships are a strategic partnerships. The user of both the ecosystem will be benefited.
We have also recently partenered with PARSIQ team to provide triggering events for NFT data point. We many more partnerships to be announced down the line so stay tuned!
More about that can be read in the medium article:
Pandora Partners with PARSIQ to provide triggering events for NFT data points
Pandora Protocol is happy to announce its recent partnership with PARSIQ
Q2. Security is paramount, so, how does Pandora Protocol demonstrate that it is secure, what mechanisms or adoptions has it taken in terms of security & in case of an attack, what measures would it take to solve the situation & avoid inconveniences to its users?
Ans — To achieve an perfect architecture and have an seamless application we have performed audit with one the biggest names in Blockchain security , Zokyo performed audit report for Pandora Protocol and to our own concern we rocked the results with no major bugs and also awarded in one of the cleanest code structure and architecture of smart contracts!
Apart from that our R&D team works on various to check the product for major vulnerabilities!
Q3. I am struck by the Pandora products which are: Box, Kylyx and Kalel. Can you tell us about the characteristics of each of them and how do they differ from one another? When will they be available and what will be the benefits for Pandora and the DeFi ecosystem?
Ans — Yeah, there is exciting development going on in this vertical. 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.
Q4. Your project was launched on the ETH Blockchain, Currently it is known that there is a large increase on Ethereum gas fees, which is usually a big problem for users, have you thought about the possibility of developing in another blockchain in the future?
Ans — Yes, there is def a large increase on Eth gas fees. So for that reason we have decided to shift to BSC so its easier for our users. Later on we do plan to work on polkadot in the longer run.. which will help to do Cross chain transaction.
Q5. You have recently announced their IDO on PaidNetwork. Could you explain what the process will be to gain access to the IDO and participate? What were the reasons for choosing the PaidNetwork team to run this important event?
Ans — The bulls are racing towards Ignition launchpad for Pandora Protocol’s IDO, which will be launched on Monday, August 30th!
🙌We are extremely excited to finally announce our upcoming $IDO on Paid Network’s decentralized swapping protocol, Ignition.
🏙Come join the movement in bridging the gap between real-life assets and liquid assets with Pandora’s open finance protocol
🗓 Mark your calendars: Monday, 30th August
🗣 Spread the word : https://twitter.com/PandoraProtocol/status/1428303958938816513
Questions Asked by our BlockTalks Community Members during live Session to Pandora Protocol Team!!
Q1. Why does your team remain anonymous and low-key if they are a legal project? This detracts from your project’s credibility, how can we trust that they are not a scam if the majority of your team is anonymous? Do you have future plans to make your identity known?
Ans — Team is not anonynmous! We are a team of individual experts in the technology and business vertical. Pandora founder Pushkar Vohra has worked with Ethlend ( now AAVE ), founded Blockslab and worked with few other DeFi projects before starting Pandora. He has also been the TedX speaker.
Other teammates Ankit and Sachin, have also worked with various crypto and non-crypto companies like Ocean Protocol, BigChainDB, Red Hat, Blockslabs and few others.
One common thing about most team members is that they have worked with the best DeFi and crypto projects before. We are very much confident about the success of Pandora in the NFT ecosystem.
Q2. Do you have any plans to reward your Beta testers… What are the reports from the Beta testing and did you consider feedbacks from the community for improvement ?
Ans — Yes we plan to reward our beta testers we got an overwhelming response from everyone who aprtcipated and now team is working hard to implement all the changes and soon we should be launching our mainnet. Rewards for beta testing users are: 1 unique NFT + $PNDR token airdrop + 9 Exclusive Pandora Box collection NFTs
Q3. How can I buy your tokens? Can I buy it from any DEX or CEX? What is the contract address?
Ans — Currently you have to participate on Ignition for out IDO . After that we wi be going for DEX probably Pancakeswap . After that we will be soon listing on CEX probably Binance. So I would suggest you to join us for latest updates as there are lot of surprises planned and you don’t want to miss out now and regret later. Also our CMC airdrop is live you guys can participate.