Libre AMA Summary Recap with Shin Chan Community
We held a live AMA with Founder & CEO, Julian Vasil and Co-Founder & COO, Josh Davis from Libre on 27th October 9:00 PM (UTC+8). Here’s the recap for those who missed it.
Introduction
Mika | Shin Chan: Good evening everyone, we are pleased to have Founder & CEO, Julian Vasil and Co-Founder & COO, Josh Davis from Libre
Before AMA start, can you introduce yourselves and the team background?
Julian Alexander | Libre: Hi everyone, great to be here!
Josh | Libre: Hi everyone, happy to be here.
A little bit about us: We are both the founders of Libre DeFi. Julian and I have been crypto/blockchain/web3 enthusiasts, traders and strong proponents of crypto and decentralized finance since 2015.
Julian has 8+ years in senior management positions for some of the largest tech startups in Toronto. Lead of Business Development at TUIO, one of North America’s leading Education based payment platforms.
Josh has over ten years of experience as a web designer and front-end developer. He was the manager of marketing technologies at one of the leading reputation management companies in North America.
Mika | Shin Chan: Do u have any upcoming news or events that the community need to keep an eye on?
Julian Alexander | Libre: For sure! Our IDO with Avaxlauncher and LaunchX will be happening early next month (tentatively for Novemeber 10th)
AMA Twitter Section Begins:
Q1. You mentioned Holders of USDL will be able to purchase real world goods and a variety of gift cards via the LibreMarketplace. I would like to know more details on USDL accepted marketplaces in addition to your own market?what real world stuff is available on the LibreMarketplace?
Julian Alexander | Libre: We’re currently in talks with one of the biggest payment providers in Canada who has a roster of 1000+, so the plan is to integrate their merchant base into our platform and allow our users to purchase goods from these select retailers with USDL or other cryptocurrencies
Q2. Once launched, will the #Libre Stablecoin ($USDL) be available exclusively to #Libre holders? Can Users stake their #Libre tokens? Is USDL fully derived from some of the costs generated by ecosystems outside of #Libre?
Josh | Libre: Yes, Libre stablecoin $USDL will be available in Q4 and will be collateralized at a 1:1 ratio with the fees that are generated and accrued in the treasury.
The only way to mint USDL in the beginning will be to stake Libre.
Q3. Marketing is a critical component of every project, since it ensures that everyone is aware of the project’s potential and that the objectives are met. What is your long-term strategy for attracting new users and investors to your platform?
Josh | Libre: Great question! Our goal for Libre is to be around for a long time, not just for this bull run but far beyond that. We have a 5 year plan which consists of not only product releases but ongoing marketing campaigns. We have set aside a budget for constant marketing throughout the forseeable future. One thing we are really focused on is partnering with traditional media and marketing agencies in order to get the Libre name out to retail investors as well. That’s why post launch we’ll also be focusing on more traditional marketing campaigns
Q4. Many DeFi projects ensure the quality and security of their products by independent third parties, which makes investors more confident. Will an audit contract be signed with a third party in the future? Will LibreDeFi ensure the security and privacy of user data?
Josh | Libre: Yes, we have already completed an audit with Nonce audits and we are in the process of finalizing an audit with Certik. We are also using Certiks 24/7 monitoring through skynet. All of our contracts use timelocks as well, so any changes to code do not get executed and deployed right away.
Q5. According to what I’ve read, Libre has four Partners: Magnus Capital, Engage, LaunchX, and Marsh Capital. So, what are their responsibilities in Libre? What role will they play in the expansion of Libre?
Julian Alexander | Libre: they provide invaluable insight and help advise us as they have incubated hundreds of other successful defi projects. They are also able to help expand our reach to different markets as they have connections with various KOLs and other key people within the space.
In addition to our partners, we have over 10 investors who have working in the crypto space since 2013 and the connections and resources that they bring has and will continue to help us scale the project
Telegram Live AMA Begins:
Q6. I wonder if your project can be integrated with other blockchains and do I get any governance power with holding your token?
Julian Alexander | Libre: Yes! we are fully commmited to cross chain. When we launch we will be available on Avalanche, BSC and Polygon. The goal is to be compatible with Solana and Fantom by the end of this year. Libre is also a governance token so users will have voting priveleges.
Q7. In your project description, it says there that “$Libre is a DeFi made easily accessible”. In what instances then that Libre is accessible compared to other DeFis in the industry? How does your One-click farms, Single Asset staking, and AMM works? Can anyone participate to it?
Josh | Libre: Yes, we are always looking for ways to decrease the barriers to entry within the space. One-click farming via our liquidity claw is an example of that as we’ve removed a lot of unnecessary steps that LPs need to go through to provide liquidity. We also plan to have fiat to crypto on-ramps included in the near future, to make it easier for retail investors to use our platform.
Q8. You say it will be “accelerated by adoption in Polygon and BSC networks”. What is the special reason for limiting your discourse to the networks you have chosen? Why Polygon and BSC?
Julian Alexander | Libre: For now, we beleive the low transaction costs and the high speed of transactions will be attractive to retail investors who are looking to take advantage of yeild farming opportunities. While we do have plans to launch on ETH in the future, right now it is not feasible for many new investors to get involved with the eth network.
Q9. Users will be able to connect their wallet to Libre Daap and buy cryptocurrencies with their credit card/accoount. Is there any restriction on customers’ ability to connect their wallet to Libre Daap and purchase cryptocurrency with their credit card or bank account? What are the different sorts of bank accounts that you accept? Is it just available in certain countries?
Julian Alexander | Libre: We will be using Wyre as our on ramp. In this case there are some restrictions depending on the country you are located in. For countries that are eligable users will be able to use their credit card and direct payments from their bank account to purchase a variety of cryptocurrencies
Q10. I Read that you have Introduced, Single Asset Entry Farming via LIQUIDITY CLAW, Can you please tell me More about this Features and In What way it will benefits the HODLERS?
Julian Alexander | Libre: The Liqudity Claw feature allows our users to enter the farms on our platform with just one asset. The protocol then purchases the other asset in the pair using 50% of the deposited asset. It then wraps the LPs and deposits them back in the farm and autocompounds them daily. Most protocols require users to undertake multiple steps to enter farms, whereas with Libre, this can be done simply by clicking deposit, and approving the transaction.
Q11. Many obstacles occur due to COVID 19 in all sectors of the world economy. Will it also have a negative impact on the Libre project either directly or indirectly? Can you share with us?
Josh | Libre: We are a fully remote team so we are not affected in the same ways that many other industries have been. Obviously there will be inflation in the world economy to deal with the pandemic and supply chain issues, so it is hard to say how this will ultimately effect defi as a whole, but we remain committed nonetheless and have had no serious setbacks at this moment because of it.
Q12. I understand Libre’s goal is to make charitable donations, and members of the community can choose where to give. So, will there be a charitable organization that the Libre team will list and poll its community to determine which one they want to donate to?
Julian Alexander | Libre: For the charity component, we will select a variety of charities every month to donate to. LIBRE holders will be able to vote on which charity will recieve a donation through governance. A portion of the fees generated from LibreSwap will go towards the selected charity
Q13. Many platforms do not provide EDUCATION to the New Investors and Users , Is LIBRE guides users step by step and provide video Content so that New users can also learn and Earn from DEFI SPACE ?
Josh | Libre: We will begin rolling out more educational content in Q4 and Q1 of next year, but our goal is to continually improve the user experience for retail investors who may just be entering this space for the first time. As we include new features such as fiat on-ramps, we will also include step-by-step guides on how to use our dapp and all of these features.
Q14. I saw Libre is also part of Certik’s Skynet Program, please tell more about this program?
Julian Alexander | Libre: Certiks skynet program is great! Essentially what it does is monitors smart contracts 24/7 to check for any vulnerabilites. It’s an extra layer of security in addition to standard audits
Q15. It’s will interesting to know your tokenomics. Would you like to share with us regarding this including total and circulating token supply?
Julian Alexander | Libre: Here is a link to our detailed tokenomics, everything you need is in there 🙂
https://www.docs.libredefi.io/tokenomics
Q16. Why Libre? What do we stand to gain?
Josh | Libre: Everything.
In all seriousness, though, we are a long-term project with many seasoned investors and we are not just a ponzi economic project. We hope that people will see the long-term vision which is to make defi more accessible to retail investors and allow more people to participate in all the things defi has to offer.
Q17. How much % will your project team get from this project Libre , what will you do with that % and do your team intend to stick with this project for a long time?
Julian Alexander | Libre: 20% of the supply is reserved for founders and various team members. These tokens are fully locked for 6 months, and then release on a monthly basis over the next 18 months. As founders, we will be doing a number of burns on team tokens, and reinvesting the tokens for further development. We plan to be here for the long term
Q18. Every Project OR Company always give the best & unique name for its Brand for making people easily to identified their existance. Where does this “LIBRE” name come from? What is LIBRE means, for me it sounds like latin language.
And your supporter, what can we do to help bring the masses to the project? may i write an article about LIBRE and publish it on my Reddit, Steemit or my other social media?
Josh | Libre: Thanks for the support. Libre literally means free and “having liberty” which perfectly aligns with our goals and defi in general. Please feel free to spread the word about our project and thank you for your continued support!
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