Kianite AMA Summary Recap with Shin Chan Community
We held a live AMA with Shane Benjamin, CEO of Kianite on 23rd April 09:00 PM (UTC+8). Here’s the recap for those who missed it.
Elson | Shin Chan : Before the AMA start, can you please introduce yourselves and the team background?
Shane Benjamin : Sure, my name is Shane Benjamin. I’m the CEO of Kiante, I’m orginally a blockchain developer now tured founder. And Kianite is a project for building a community goverened DeFi ecosystem and we are starting with bring governance to the indices of the crypto world.
Elson | Shin Chan: Any latest news / ANN u can sharing with our community before our first section start?
Shane Benjamin : Well other than the fact that we are going to be on MXC in the next hour or so we are also working on a staking program for everyone that is looking to be a long term holder of $KIAN so look out for that.
AMA Twitter Section Begin:
Q1 :Where did you get the inspiration for this great KianiteFinance project idea? Do you have sufficient funds to develop this project and where will the funds come from? what are your plans / solutions for future kianiteFinance projects?
Shane Benjamin : The idea for Kianite came to me as I was speaking to a friend that wanted to get into crypto investing but didn’t know where to start in terms of creating a portfolio, so my though was to create an ETF but there were already products on the market but none that I believed captured the users attention in terms of community. So, I decided to create one and that is when I had the idea for Kianite to create community governed indices.
Q2 : I read on your RoadMap, in Q4. 2021 you will vote in the community to make changes or improvisation on your platform, how do i participate in the voting? Can the whole community or only the $KIAN token holder do Voting?
Shane Benjamin : Only token holders will be able to vote in the changes in the Kianite project. We plan to make it in such a way that the community mebers can give input in as many aspects possible on the platform.
Q3: You point out that Batch allows the creation of tokens that track the price of baskets of crypto assets, but could you really explain a little more about the characteristics of these tokens and their usefulness? also can any user create their tokens?
Shane Benjamin : The usefulness of an index token is that it will allows a user to invest in the performance of a basket of assets as opposed to a single token which will give them diversification in their investment. It is not confirmed yet but we hope to allow token holders to created their own batches and allow other members of the community to benifit from their investment strategy.
Q4: How is Kianite planning to attract users and show that Kianite is a tool with better underlying technology and easier, more intuitive development experience? What are the challenges you are trying to solve in the next 6–12 months ?
Shane Benjamin : The challenges we are trying to solve is passive investment, allowing users that don’t have to time or the knowledge to invest in crypto to have the same advantages as a person that would buy the S&P 500 or the Dow Jones index in the traditional financial too be able to do so in the crypto market as well in a decentralised way. So for the next 6 to 12 months and beyond we are going to be working on creating the best passive investment mechanism for the crypto industry.
Q5 : Many projects were closed or failed due to insufficient liquidity and sustainability issues. What are the main goals of Kianite in achieving sustainability?
Shane Benjamin : We believe in order to build a great project we need to build a great community so we plan to achieve sustainability by including the community, giving them a use-case for the token and an incentive to hold over the long term by creating products that they believe are useful and will encourage them to use our token.
Telegram Live AMA Begin:
Q6 :You show in your Q3 that you will make partnerships with the most relevant parties to strengthen Kianite, but could you really tell us what kind of partnership you will seek? Do you already have some projects with which they have made the association?
Shane Benjamin : We plan to partner with platform projects. Like other blockchain for example (this is not an announcement of collaboration, just an example) if we were to partner with Moonbeam we would create an index with only projects that run on their platform. Or BSC index with only projects that run on that platform.
Q7 : How can we buy Kyalin token and is this available on any CEX?
Shane Benjamin : We are launching on MXC in 30 minutes.
Q8 :So, I will get free investment advices to start my investing in DeFi? Or how does it works and how it will be?
Shane Benjamin : No you don’t get investment advice. You can buy a token that tracks a basket of assets that was put together by a community of crypto investors in order to get a diversified portfolio of assets.
Q9 : What gives customers peace of mind when searching for your #kianite project? without fear of being scammed? Is customer data confidential?
Shane Benjamin : To the best of my knowledge up to this point we don’t collect of need personal user information.
Q10 :🔵 Why do you use the decentralized algorithm that you call reserve? What benefits will the reserve bring to users and the Kianite ecosystem?
🔵 What are the rates of return we will get from our assets in lending transactions? How do we calculate these rates?
Shane Benjamin : So the reserve is so that we would have enough tokens to buy or burn depending on wether we need the token price to go up or down. We mint more tokens into the reserve when we need the price to go down and we burn them when we need the price to go up.
When it comes to lending and rates that is something we will leave up to the community to decide.
Q11 : When BINANCE sir?
Shane Benjamin : When we have enough volume 😁
Q12 :How do you plan to spread awareness about your project in different countries where English is not spoken well? Do you have local communities for them to let them better understand about your project?
Shane Benjamin : As of right now we have our english community and we are building a chinese one as well. But we haven’t decided what other markets we will target for the moment.
Q13 :Can you explain the #Kianite in the future and the plans to increase the activity of #Kianite and what if someone wants to join as ambassador of #Kianite?
Shane Benjamin : So, we don’t have an ambasador program in place just yet. But we are working on building strong projects that will benifit our community and motivivate them to share the word about the project.
Q14 :At first what blockhain will you implement to bridge with erc-20?
Shane Benjamin : Yes, our first bridge will be to ETH and then maybe HECO.
Q15 :What does community governed indices really is? What is the main purpose of building this governance?
Shane Benjamin : The governance in the indicies is that the community decides what underlying assets go into the index. We are adding governance because we beleive that it will add value to our community. There are many people with knowledge about great projects that could benifit the whole community. They is allows them to vote and help the whole community.
Q16 : Which wallet is required to acquire kianite tokens?
Shane Benjamin : Any wallet that supports BEP-20.
Q17 : How and where can I purchase kianite tokens and start farming?
Shane Benjamin : You can buy them on Pancakeswap and MXC. We haven’t opened our farming program just yet.
Q18 : What are the specifications of your project that makes you unique and different from others? What criteria do you follow in your business development?
Shane Benjamin : Well I beleive the simple fact of added governance to our index seperates us from other projects in the market.
Q19 :Are you a global project and fully Decentralized? Can any person able to use Kyalin from anywhere in the world ?
Shane Benjamin : Yes, we are. You can buy the token from anywhere you have access to a DEX.
Q20 : Which DeFi sector you are targeting? And what strengths does your project has over others?
Shane Benjamin : We are targeting the index sector. We are adding governance to the platform.
Q21 :First of all, I want to congratulate you in your first CEX listing with MXC. May we know what plans do you have to $KIAN holders in MXC exchange? How can we maximize our earnings with $KIAN? Please tell us your plans about staking program?
Shane Benjamin : Thank you. Sure we are working on staking across a few different platform. We plan to have centralised and decentralised stake with regular liquidity staking in order to motivivate our community to hold on for the long term.
- End -