Thank you to the NanoNews Community for participating in Ask Me Anything (AMA) with Mobius Finance May 07, 2021. This guest star Pedro, CEO at Mobius Finance. If you were unable to join the live AMA, no worries, here comes our 114th AMA recap!
We are glad to meet here:
Pedro, CEO Of Mobius Finance
For taking your time out from busy schedule for the AMA!
Host: How are you feel today sir?
Pedro: It’s been quite busy, making new partnerships and establishing our IDO date which will soon be announce, but I always find time for our community members, Make sure to subscribe to our telegram channel so you dont miss it.
Q1. Could you give an introduction of yourself And how you can play an important role in Mobius Finance?
We’ve been developing Mobius for over a year
The reason we’re targeting derivatives, is that if I would to ask anyone here which is the biggest market out there
A lot of people would say “the stock market”
this is not true, it is the most popular one, but it is tiny in comparison to the derivatives market
The derivatives market in traditional finance, is 10 times bigger than the stock market
If DeFi is going to challenge the traditional market, we need to take this into consideration to allow institutional investors to join
Cryptocurrency is 2.4 trillion dollars, within this, DeFi is just small, and within that percentage is derivatives products. But remember! Derivatives in traditional markets is at least ten times as big
this means that in the future, if the current development trend continues, we would expect derivatives to be worth 10 time, the entire DeFi market
I believe this will be the future and Mobius Finance is aiming to be a pioneer on this.
Q2. What is Mobius Finance? And how is the story behind the Mobius Finance Creation?
We have one goal, Be the next big project out there to change the way assets can be traded, We will allow any asset to be traded. Not just crypto, But also traditional financial instruments, Apple, Google, Tesla, Gold, etc
On top of this, we will implement a layer-2 solution, being in the upfront of technology
Projects need to start thinking in the future, and not just copying what others are doing. This is why we will support layer-2. We are a decentralized, uncensored, unstoppable market
We have adopted a quote-driven model, which will allow us to have infinite liquidity, Users will be able to have exposure and to create derivatives they wish.
On top of this, the Mobius Token will also be a governance token. Only 100 million will be created, we will support token-burning, and a buy-back program, to sustain healthy price levels
The goal is to create this platform and give people the power to have complete governance over the protocol by next summer
Q3. What is so exciting about Mobius Finance, which might make Mobius Finance different from all other projects out there?
Mobius Finance is built with 6 pillars in mind
- Layer-2 Ethereum
- Multiple incentives
- Auction clearing pool
- Automatic Debt Balancing
- Quote-driven markets
Mobius will be design with layer-2 in mind. The truth is, if you want to launch a product today, you cannot repeat what other people are doing, we need to innovate
ETH layer-2 will be really soon ready, and we will be one of the most important products available, Layer-2 will change the panoramic game of ETH in lots of way people dont imagine.
We have multi-collateral, initially we will support ETH, DAI and the Mobius Token ($MOT), This will allow more users to have different strategies to have exposure to synths.
We will hold multiple incentives, liquidity mining, we will have a token buy-back program, token burning, among others. This is in order to keep our price at a healthy price.
We will support a clearing pool to ensure that people that have profit, stay with the profit, they will be no claw-backs, and no losses for people who are profitable
With our ADB, we will solve the global debt-problem that’s a current problem in the Synthetics application
Quote-driven markets will allow us to have unlimited liquidity, no more impermanent losses, Hope that clears things for everyone!
If anyone wants to learn more, dont forget to join our telegram channel : https://t.me/mobius_finance
Q4. Please provide some information about your Roadmap, How Mobius Finance is progressing so far? And what Mobius Finance is currently focused on?
We have closed our seed round, we have the support of Lotus Capital, Magnus Capital, Oasis Capital, X21, AU21, HotBit, Flybit, Pantera, and many others
We’re currently in the last phases of developing the product, and establishing the date for our IDO, which will take place within 1 month
the announcement will be done on our official channels
We’re focusing on doing the IDO, and allowing people to take part in the future of decentralized finance
Q5. Please tell us more about Mobius Token (MOT) Whaten! What utilities does the token have, and what benefits will tokens holders get?
Only 100 millions will be created
and this amount will continue to decrease as we burn the supply in order to create scarcity
The Mobius Token will be an utlity token
Users will be able to collateralize it in order to get moUSD, our settlement currency, they will also be able to use it for liquidity mining
This will also be our governance token, a maximum of 100 millions will be created, and nothing more
What’s important for me, is creating this product and being able to leave it in full control of the community by next year
With our $MOT token, they will be able to submit proposals, vote on important matters, and what’s more important, they will be able to get exposure to synths assets
Q1. Auditing plays an important intermediate role in the development of applications. What audit methods have you applied in project to ensure security of funds?
We will publish all of our source code to our official Github repo, anyone will be able to read the code.
Also, we will publish our audit to ensure that we have been certified by important developers to assure people that our product is safe, and ready
We will also soon enable a testnet version for a limited number of people, we will open a whitelist in our channel, and a selected few will be able to use it before the official launch
Q2. How will Mobius Finance change the DeFi Ecosystem to be more developed in the future?
The most import thing to do, is to create with new technology in mind
If we don’t innovate, the market will stagnate, and a bear market can result due to that, so we need to continue building and innovating.
The DeFi ecosystem will be quite different in 6 months, once Mobius Finance is online, we expect to take the spotlight when it comes to the derivatives market
We need to understand that the way the cryptocurrency market will continue to expand, is by creating good, strong and reliable products
these are core values that cannot be ignored, We will the only platform that can support our 6 core values.
Besides this, we will not be limited to ETH, we will also look into expanding to other blockchain protocols, in order to acquire multiple users base
Q3.You mention that “We offer low transaction fees and high speeds thanks to Ethereum layer 2”, but if those characteristics can be obtained with the BSC chain, why not use ETH? Will there be any other ETH benefits that BSC does not provide?
This is a good question, that it is also recurring, I think people don’t understand how layer-two is going to affect Ethereum.
BSC has a number of problems, it’s centralized, only have a handful of validators, the chain is growing 3-4 Gbs per day….and some core developers are saying that they are pushing the Geth and Parity clients too much
Of course, people like it because it is cheap and I can understand that
But for a long-term project, like Mobius Finance
We will stay with ETH, it is the chain with the highest security, the strongest community, and the most support for developers
we expect 2,000 transactions per second, and even cheaper than transactions than BSC. So yes, they are more advantages that will come.
Q4. Your order execution model will allow the users to enjoy zero slippage and low transaction fees, but no project survives without some fees, what is the percentage you’ll charge per transaction and is there any benefit for the holders of that?
To be clear, yes, we will have 0 slippeage to be even more clear, we will have infinite liquidity. Our transactions fees will be low, let me clarify
For example, if an user places a trade on Uniswap, they would pay 0.3% fee, on top of the expensive ETH network fee
we will lower the ETH network fee with our layer-2
Let me give an example to everyone
If I would to send an ETH to anyone here
it will cost me 21,000 GAS
multiply that by the GWEI
and it would cost me around $5 USD right now
on layer-2, instead of 21,000 gas, I would pay less than 100
on top, it can support up to 2,000 transactions per second
So the fees will be ultra low, allowing people to trade even a few cents, with virtually 0 fees
right now, if you place more than 5 orders per day in DeFi, it will result in probably $100 USD
in Mobius, it will be just a few cents…0.000001
Q5. Are mobius planning to have partnership with a another blockchain in the future? And are u planning to get some burn on this year?
The answer to both is yes, We are working establishing partnerships with two of the top 10 blockchains protocols.
I cannot mention names yet, but I’m sure everyone will be more than happy once we make the announcement official
For the token burning, yes, we plan to announce a burn after our IDO
Q1. Is the $MOT token already listed on an exchange or DEX, CEX and how do you get your $MOT token and where i can buy, Can I give $MOT token smart contract?
We have not released our $MOT token, we will announce our IDO date soon. If you want to be part of the future of derivatives, join our telegram channel and stay tunned for the date
Q2. Could you give me 3 key points to convince me and other angel investors invest in project for the long-term?
We already have more than 10 angel investors
All of them understand that this is a one-time opportunity since we’re targeting an emergent market
If you want 3 reasons, I can give you that and even more
1) Derivatives have not been explored sufficiently, current solutions are not effective and suffer from various problems
2) Layer-2 focused development, any project coming out now, needs to support new scalability solutions, not just copy ETH for cheap gas and think they can go for the long-term, at Mobius Finance, we’re adopting new technology to be part of the future, not lagging behind
3) Nobody is doing what we’re doing. Everyone wants to copy some money markets, or some farm for some random token, all of that will go away in a few months, if you want to have the opportunity of something new and long term, join us,
Q3. Where does your project profit now? Does Covid currently affect your project development? That’s what I care about!
We have worked during COVID, it has been really hard on all of us, but we have not stopped.
I hope everyone is safe put there, and things will get better.
We have a list of Venture Capitalist supporting us, you can find information about this in our website https://mobius.finance
We will soon also keep expanding this list
Q4. What is the competitive advantage your project has that you feel most confident about?
We’re doing things right from the start. We have looked at all other projects, and learned from their mistakes.
It is quite hard, almost impossible, to change something in a smart contract once updated. That’s why we’re starting with multi-collateral, already are working on a second layer solution, we will have strong partnerships, we will be using quote-driven markets rather than orderbooks or liquidity pools. We will also have a strong oracle system that will be able to tokenize any financial instrument
We have received investments by two popular crypto exchanges. We will make sure our token can be traded as well in major exchanges
I can’t announce yet which exchanges can be supported, this will be done after our IDO which will be soon within a month
Thank you for trusting NanoNews as the organizer of the event today, hopefully everyone can understand about Mobius Finance
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