SolHub Finance AMA Summary Recap with Shin Chan Community
We held a live AMA with Founder & CEO, Pradeep from SolHub Finance on 19th August 10:00 PM (UTC+8). Here’s the recap for those who missed it.
Serene: Before AMA start, can you introduce yourselves and the team background?
Pradeep: I am Pradeep, having 17+ years of experience as a developer working at multiple MNCs. I have been involved in crypto space since 2017.
and our team consists of 6 members. We have 5 tech guys and 1 business dev.
Serene: Any latest/ update news about SolHub Finance you would like to share with our community?😀
Pradeep: SolHub is the #DeFi hub for the most enhanced and decentralized experience on Solana. The SolHub DEX mainnet is a fully-decentralized order book-based DEX with 30+ live markets to trade on.
We have our Mainnet live already at https://dex.solhub.finance
Q1: SolHub was build on the Solana blockchain, a chain that has gain a lot of popularity recently, but I was wondering, why did you choose Solana? What kind of benefits does Solana give you as a platform? What kind of advantages and innovations will allow you to provide to investors?
Pradeep: Solana is a low latency, high performance and low cost blockchain with smart contract functionality. Also completely decentralized and secure. It is uniquely positioned to gain market share from existing smart contract blockchains as well as attract new projects and users to the crypto/blockchain space. So we feel Solana is best choice.
Solana can scale up to 50k tps and offers costs that are multiple orders of magnitude lower than the competition ( $0.01 average transaction fees )
Ok now tell me
Where can I but tokens
And by buying how is it good and beneficial
What kind of usecases and utilities will be given to the token holder
Will they be allowed to participate in #DAOGOVERNANCE
Pradeep: SHUB is an governance token so holders can vote on different proposals and guide the development through governance
Staking You can stake SHUB to earn more SHUB tokens and also you will get access to rare NFT markets
DApp factory subscriptions Holding SHUB tokens is a requirement for getting access
to subscriptions for DApp factory.
HubPad SHUB token holders/stakers will be given highest priority in HubPad which is
our own launchpad platform for IDO sales.
Q3: Regarding SHUB on-chain governance, what kind of proposals customers could put forward and how do you aim to encourage users to actively participate in the governance of the platform, will there be incentives for doing so?
Pradeep: Token holders can create/vote on proposals and guide the development through governance such as increase/decrease trading fee, add buy back and burn , use of treasury funds …etc.
Q4: SolHub is characterized as a DEX for these platforms, it is important to attract liquidity and create a large pool, the more liquidity there is in the pool, the less the orders will slide. Taking this into account, what strategy would you use to attract enough liquidity?
Pradeep: Yes thats true that liquidity is very important for DEX. thats why SolHub shares liquidity with Serum.
Q5: One of Solhub’s Core Products is “Orderbook Dex” which I read that its initial version will have a custom GUI for the Serum DEX. my question is, can Users create a Serum market and start trading on the permission-less DEX using your token minter??
Pradeep: Yes, users can create Serum market and start trading.
Telegram Live AMA Begin:
Q6: Can you please explain what are the advantages of using the SolHub Finance Platform and is it friendly for beginners like me?
Pradeep: In simple terms, SolHub is Defi Hub being build on Solana. Yes our plan to make it user friendly for all users.
Q7: Can you talk about the initial milestones which SolHub has achieved and now on which target your entire team is focused on ?
Can you provide information about your team members their experience and qualification ?How they are playing crucial role in functioning of the SoloHub finance ?
Pradeep: Our initial milestone is that our dex Mainnet is live even before our TGE.
SHUB is an governance token so holders can vote on different proposals and guide the development through governance. Holding SHUB tokens is a requirement for getting access to subscriptions for Dapp factory.
More importantly SHUB token holders/stakers will be given highest priority in HubPad which is
our own launchpad platform for IDO sales.
Q8: I see Holding SHUB has many benefits but I have one query about it,
As It also has the subscription for Dapp factory, What is this? How will it be benficial for users?
Pradeep: Users can develop their own DApp on our platform using our DApp factory.
Q9: ☘️ In the third quarter (3Q) of your roadmap, you ask to see that the public IDO will take place, so can you explain to me how I can participate in your IDO? On what platform will it take place? And can you tell me what is expected to be achieved or achieved with this IDO?
Pradeep: We are currently in discussion with multiple IDO platforms. We will share details once everything is finalized. Please wait till then.
Q10: ❓Can you show us to SolHub finance roadmap ??
❓What are the upcoming huge event and achievements??
Q11: What is the difference between NFT Hub, HUB Swap, and Hubpad and what benefits do they offer users of your platform?
Pradeep: NFT Hub is nothing but NFT exchange built on top of Solana and Serum.
HubSwap is swap with an aggregator.
HubPad allows anyone to create a pool and raise funds.
Q12: SHUB which is the native token of SolHub is on the Ethereum network but SolHub is supporting projects on the Solana ecosystem. Will SHUB later move to the Solana network? And how do you intend to incentivize users to move to the Solana network?
Pradeep: Yes initially SHUB will be an ERC20 where most of the users are right now. Yes we will be on Solana network too. We help any project to move on to Solana eco system and process will be very smooth for them.
Q13: I didn’t see about burning mechanism of $SHUB. So how will you control inflation rate of $SHUB without a proper burning mechanism? Also $SHUB involve as a governance right of the stakers & holders. How will vote system work in SolHub Finance?
Pradeep: Yes, SHUB is a governance token and token holders guide the development through governance.
Q14: If SolHub basically a DEX platform like Uniswap then what are the difference that makes it different from other DEX and what are the advantages of SolHub itself?
Pradeep: SolHub is not only DEX but DEX is one of our product. We have other exciting products such as HubPad, HubSwap, NFT Hub and DApp factory
Q15: How does the Token Minter works? What kind of coding knowledge do I need to have to mint a token on “Token Minter”?
Pradeep: There is no coding knowledge required. We will provide an UI to mint tokens using Token Minter.