We were delighted to welcome our guest from Krystal. The AMA took place on August 29th, 2021 and our guests were @hiepcopywriter and @jarvis57!

The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Mary Satoshi Club: Hello  Satoshi Club! We are happy to announce our AMA session with Krystal! Welcome to Satoshi Club😀

D. Папа Роуч: today our guests – @hiepcopywriter and @jarvis57!  🚀

D. Папа Роуч: how are you guys doing? 😊

Jason Vu | Krystal.app 🦇🔊: Thank you for having me here @Cool_as_Ice

Jason Vu | Krystal.app 🦇🔊: I’m doing great!

D. Папа Роуч: awesome! 👍

Mary Satoshi Club: Welcome here 😀

jarvis: Glad to be here. Hi everyone

D. Папа Роуч: hello! good to have you both here, with us today😃

D. Папа Роуч: so let’s start our AMA with a short intro!

Mary Satoshi Club: Wow, nice stickers 👍

Mary Satoshi Club: Guys, could you please introduce yourself and tell us more about Krystal 😀

Jason Vu | Krystal.app 🦇🔊: ok, maybe I will go first

Jason Vu | Krystal.app 🦇🔊: Hi SatoshiClub fellows,

Mary Satoshi Club: Sure, take your time

Jason Vu | Krystal.app 🦇🔊: My name is Jason – Head of Marketing at Krystal. Prior to Krystal, I have worked at one Forex company, then KyberSwap – a DEX utilizing Kyber Network protocol. I only dove down into blockchain/crypto in the middle of 2019, when I was looking for some of the most suitable ways to invest my money. The more I researched, the more interested I am in this industry. In a stroke of luck, KyberSwap was recruiting a Marketing Manager at that time & of course, I couldn’t miss that chance. After 1.5 years, we decided to revamp KyberSwap to a totally new full-fledged platform so-called Krystal. So, I’m here today.

Jason Vu | Krystal.app 🦇🔊: done, your turn @jarvis57

Mary Satoshi Club: Great background! Sure this will help Krystal a lot!

jarvis: thanks @hiepcopywriter

jarvis: Hi everyone, my name is Jarvis, CTO at Krystal. I have a few years of experience on blockchain. Prior to Krystal, I used to found Etheremon, one of the early NFT game. Now im seeing a need on adopting blockchain tech to new users. That’s why im joining Krystal to building a cool wallet to access defi services.

jarvis: Glad to be here today

Mary Satoshi Club: Awesome! Sure, with your experience you will make Krystal even better!

Mary Satoshi Club: So, guys! What is Krystal and it’s main goals?

Mary Satoshi Club: Also we will be happy to know who are behind your project and how big is Krystal’s team😀

Mary Satoshi Club: @hiepcopywriter @jarvis57

Jason Vu | Krystal.app 🦇🔊: In a nutshell, Krystal is a one single-stop shop for all Defi. User can manage their portfolio, swap tokens, supply their funds to earn interests, participating in yield farming, liquidity mining & other features in decentralized manner.

Jason Vu | Krystal.app 🦇🔊: For example: Krystal natively integrate with KyberDMM, Uniswap, SushiSwap (on Ethereum), PancakeSwap/ApeSwap (on BSC), QuickSwap/SushiSwap (on Polygon Matic) for seeking the best rates for users.

Mary Satoshi Club: Very nice! 😄

Jason Vu | Krystal.app 🦇🔊: for more information, please refer to our website: https://krystal.app/

Jason Vu | Krystal.app 🦇🔊: Done 🙂

D. Папа Роуч: sounds good, so we can compare it with apps like Zerion and Zapper?

Mary Satoshi Club: A lot of protocols!

Mary Satoshi Club: I am also interested 😉

Jason Vu | Krystal.app 🦇🔊: I think it depends on the vision of each project. Krystal sounds like a Defi aggregator since very beginning, and we aim to integrate with at least 500 protocols under the hood. On the other hand, in my opinion Zapper/Zerion started their businesses as a portfolio management platform.

D. Папа Роуч: that’s true

Jason Vu | Krystal.app 🦇🔊: But it’s just my opinion, so don’t take it seriously 😎

D. Папа Роуч: haha but it’s a good opinion 😉

Mary Satoshi Club: Btw😉

Jason Vu | Krystal.app 🦇🔊: @jarvis57 you might want to take this question?

jarvis: The team is around 20 persons now. This is also the team behind KyberSwap

Mary Satoshi Club: Gotcha! Quite big team! By the way, first question from our first part is connected to your answer😄

Mary Satoshi Club: So, thank you for your great intro and are you ready to start with the questions from our community?)

Jason Vu | Krystal.app 🦇🔊: couldn’t wait to see the questions 🙂

D. Папа Роуч: let’s begin!!!!🚀🚀🚀

D. Папа Роуч: appreciate for the great intro!

Q1 from Telegram user   @Jonahapagu

The Krystal Platform is said to be built by the team behind KyberSwap, which is a decentralized token swap service and one of the most popular DeFi applications in the world… so why was an entirely new platform created instead of improving the functionalities of the already existing Kyber swap, are both platforms related in terms of their functionalities and what they can be used for, what are the clear differences between this two platforms coming from the same team, and with the creation of the Krystal Platform will the team still continue making further improvements on Kyber swap alongside Krystal or will all their focus now be on krystal…..

Jason Vu | Krystal.app 🦇🔊: Ok let me take this. That’s really a good question!

D. Папа Роуч: yes, please 😊

Jason Vu | Krystal.app 🦇🔊: At KyberSwap, our aim has always been to add value to everyday traders and users in Defi through our unique and pratical product. Bearly 2 years after the launch of our decentralized token swap service, KyberSwap has become one of the biggest trading volume DEXs and has faciliated seemless peer-to-peer token swaps for thousands of users. KyberSwap was always a dapp inside KybeNetwork ecosystem

D. Папа Роуч: so Krystal will be something bigger?

Jason Vu | Krystal.app 🦇🔊: So, KyberSwap product was initially incubated at KyberNetwork, but it already completed its’s mission which was bootstrapping the whole KyberNetwork ecosystem at that time.

Jason Vu | Krystal.app 🦇🔊: And we decided to terminate KyberSwap, and come with a new initiative as Krystal right now. Likewise, Krystal is independent from KyberNetwork. Krystal have full liberty to operate in anyway they deem fit. With Krystal, we believe that we can reduce complexities and greatly simplify the Defi experience for everyone. Krystal app is a Defi Hub that saves users time, money, and effort by consolidating the best Defi services under one roof without any limitation.

Jason Vu | Krystal.app 🦇🔊: – Done –

Jason Vu | Krystal.app 🦇🔊: Yeap, KyberSwap only integrated with KyberNetwork. But Krystal can integrate with any protocols as we want. So Krystal is much more bigger & ambitious than KyberSwap 😎

Jason Vu | Krystal.app 🦇🔊: one more thing,

Jason Vu | Krystal.app 🦇🔊: Krystal has raised 6.6mil usd from seed round. Please read more details here: https://finance.yahoo.com/finance/news/krystal-raises-6-6m-build-132000626.html

Jason Vu | Krystal.app 🦇🔊: Fully done with this question.

Mary Satoshi Club: Wow, congratulations 👏🎊👏

D. Папа Роуч: wow this is big!

Mary Satoshi Club: Thank you for your answers, guys! Ready to proceed?

Jason Vu | Krystal.app 🦇🔊sure

Q2 from Telegram user   @DK177

It is not advisable to put all the eggs into one basket. When we use KRYSTAL, all out wallets are linked to one platform. Is it safe? Using your app on my mobile device is a convenient option. However, what will happen if I loss my phone? Can anyone access the KRYSTAL app and withdraw funds from all the wallets linked to it? After installing the app, how can I use it securely? Please give a brief guidance for using the mobile app.

jarvis: It’s a technical one I think I should take it

Jason Vu | Krystal.app 🦇🔊: sure, please go ahead

jarvis: Security is our highest priority, thus we do everything we can to ensure your fund is safe.

Firstly, all your private keys/ seed phrase is encrypted and store locally on the mobile, we do not control or manage user’s wallet. Thus the fund is completely in your control

D. Папа Роуч: your app is already fully available on mobile devices? btw

jarvis: Secondly, to access the app, users will need to enter the pin code or bio ID (.e.g faceID) thus if someone got your phone, it is nearly impossible for them to access the app

jarvis: yes, we are available on both iOS and Android. You can download them here https://krystal.app 🙂

D. Папа Роуч: 👍 very keen to try it  🙃

jarvis: Continue the question. Lastly, If your phone broke down or loss, you can always recover the wallet easily with the private key or seed phrase. Make sure to write them down and keep them safe when you create the wallet

Mary Satoshi Club: What about whole platform security and audits? Did you pass them?

Mary Satoshi Club: Yes, this is the main thing!

jarvis: Yes, the contracts are fully audited and published at https://github.com/KYRDTeam/krystal-core

D. Папа Роуч: that’s a very good reminder, lots of people still forget about it

Mary Satoshi Club: Thank you! I see you really care about security!

Mary Satoshi Club: Thank you for your answers guys! Ready to jump to the next question?😄

jarvis: Im done with the question btw. In case you need help, we are happy to support at support.krystal.app

jarvis: yes pls go ahead 🙂

Q3 from Telegram user  @Cheriemike

Hello Krystal

Currently,Krystal allows users to swap tokens through DeFi protocols like Uniswap and Sushiswap and earn yield through platforms such as Compound and Aave.You also support Ethereum,BSC and Polygon Networks.My question is,Do you have plans to Integrate to more protocols and blockchain like Solana and Polkadot?I notice Krystal doesn’t have its own token yet,can you tell us why you choose “Krystal Point and not Bep20 or Erc20 tokens?What is the flexibility of Krystal Point and when will your token be available? Thanks

Jason Vu | Krystal.app 🦇🔊: @jarvis57 I think you’re the right person to answer this?

jarvis: sure

jarvis: First, Solana and Polkadot are already on our roadmap. We will support more and more blockchains/ protolcols in the future as well

jarvis: Regarding why we choose Krystal Point instead of a token, please note that the Krystal team is currently focused on launching a product that adds great value to DeFi users. As of now, Krystal is still in a nascent stage and doesn’t need a native token yet. Thus, at the early stage of the product, KP is a helpful tool for Krystal growth

Mary Satoshi Club: Guys, i have a question 😂

D. Папа Роуч: nice! 👍 you will be integrate all popular blockchains gradually?

Mary Satoshi Club: Is it possible that we will hear the words ‘retroactive airdrop’ one day from Krystal?😄

jarvis: Yes. Actually we focus more on the long term growth, which we can integrate new protocols and new blockchains quickly. Right now Krystal can integrate with Ethereum compatible chains very fast. After that we are taking research on Solana and others

Jason Vu | Krystal.app 🦇🔊: It’s very common in crypto space nowaday. Of course we will satisfy every loyal user. That’s the thing to be announced. Please bear with us.

Mary Satoshi Club: Sure, i love your answer! And i think it’s time to use your platform!😉

Jason Vu | Krystal.app 🦇🔊: yeah, sounds great.

Mary Satoshi Club: Thank you for your answers! Ready to go to the next question?😄

jarvis: sure

Mary Satoshi Club: And it’s my advice to all Satoshiclubbers 😉

D. Папа Роуч: brilliant answers thanks a lot! 👏

Q4 from Telegram user @Asela1112

Currently I use binance exchange to trade cryptocurrencies & I make a considerable profit. When looking on Krystal App, I think it will suit for me. In First, Can you tell me about the fees, you incur on buying & selling? What about the Technical side of Krystal App, I mean will there be candlestick charts, depth charts, drawing tools & technical indicators? What about the time interval on Krystal Trading App? What kind of order can we trigger on Krystal App such as OCO, Stop Loss, Spot trading?

Jason Vu | Krystal.app 🦇🔊: ok let me take this

Jason Vu | Krystal.app 🦇🔊: It’s also a good question

D. Папа Роуч: definitely question from the trader

D. Папа Роуч: maybe even full-time trader

Jason Vu | Krystal.app 🦇🔊: ‘Cause you already use Binance exchange, so you might know their standard trading fee is 0.1%. In comparison with Krystal, you would pay 0.08% for both buying & selling orders (trading fee is a subject to change in the future). And it’s reasonable. Let’s say if you made a trade of $1,000 worth, Krystal only takes $0.8 as trading fee to coer our operation cost. Other services like earning, we don’t take any fee.

Mary Satoshi Club: Nice discount 😉

D. Папа Роуч: totally agree

Jason Vu | Krystal.app 🦇🔊: In addition, if you participate in referral program of Krystal, you also can get some kicback from trading fees, and commission from trade volume of your friends as well. Please read more details here: https://support.krystal.app/support/solutions/articles/47001181546-referral-program

Jason Vu | Krystal.app 🦇🔊: Regarding trading tools, indicators & order types, you know it’s easy to implement on a CEX as Binance, but very challenging with a DEX aggregator as Krystal. However, we’re working hard on it to deliver the best trading experience for our users. So far, we already support Line Charts, Sparkling Charts, Top Gainers, Top Users, Trending Board on Krystal. More features like Limit Order, TWAP Order (Time-Weighted Average Price) will come in the near future.

Jason Vu | Krystal.app 🦇🔊: – Done –

Mary Satoshi Club: We all are waiting for dexs to support this tools😄 so, we will definitely follow your updates!

Jason Vu | Krystal.app 🦇🔊: Please chase @jarvis57 for that! 🙏

jarvis: haha you are welcome

Mary Satoshi Club: Ahaha😂

Mary Satoshi Club: Thank you for your answers! Ready for the next question?

Jason Vu | Krystal.app 🦇🔊: yeap, always

Q5 from Telegram user @NataliyaKil

Krystal CEO Sunny Jain recently announced that Krystal plans to provide access to NFTs and staking on its platform. By end-August, you expect to start rolling out elementary features at these fronts. What features for NFT have been deployed so far, what is the team continuing to work on, and what challenges have you faced? What features should we expect to roll out in the near future?

jarvis: oh yes we are working hard on that NFT. let me take this question

D. Папа Роуч: btw a small question, can we use somehow Krystal points? convert them in something on our choice?

Jason Vu | Krystal.app 🦇🔊: Sure, it’s permissionless. Anyone can import his wallet & 05 ref codes will be generated beforehand for that wallet.

jarvis: ^ Btw, there are many ways to accrue Krystal Points like Referral Program, Retweet Campaign, Learn & Earn, Finish some Quests & other numerous activities on Krystal. And it’s good to mention that Krystal Point can be a good use of the token in the future

jarvis: Anw back to the question, NFT is a big part of the DeFi community and Krystal will have many cool features to support it for sure. In the next few days you will be able to view your NFTs in your wallet and send them to others. You can also add an NFT’s ID to view it

Mary Satoshi Club: Gotcha 👍

jarvis: Specifically about NFT, after this we will integrate with some NFT marketplaces, so that user can buy and sell NFT directly inside the Krystal App. Other than that, we are also working on integrating with staking & farming protocols, limit order, split-trade algorithm, and a lot more cool stuff as @hiepcopywriter already mentioned earlier. So please stay tuned and keep eyes on our channels 🙂

Mary Satoshi Club: Wow, cool features! You will support NFTs on ETH, Polygon and BSC?

jarvis: Yes that will be on all 3 chains

Mary Satoshi Club: I am yours, guys 😂

Mary Satoshi Club: Really cool!

D. Папа Роуч: and i assume it’s time for the last question from part 1 😉

jarvis: Also a quick screenshot on the current dev version, which will be up in few days

jarvis: Please go ahead 😉

Q6 from Telegram User @ItsMelissa3

A few days ago, Krystal announced its inaugural Video Contest. What are the requirements to participate in this contest? How long must our video be in order to qualify for the contest? What is the deadline to submit our video? Krystal supports various interfaces – iOS, Android and Desktop. Can our video be from any of those interfaces? In which language should the video be recorded?

Jason Vu | Krystal.app 🦇🔊: Thanks for asking this question. In order to participate in this contest, you simply:

Jason Vu | Krystal.app 🦇🔊: 1. Create a video that showcases Krystal’s features and shows viewers how to use the Krystal App

2. Each video must be at least 2 minutes long.

3. Your video can be about any of our supported interfaces — iOS (https://apps.apple.com/app/krystal-one-platform-all-defi/id1558105691), Android (https://play.google.com/store/apps/details?id=com.kyrd.krystal) or Desktop (https://defi.krystal.app/).

4. Any language is welcome 🌎

5. Deadline: 14 September 2021 (GMT+8)

For more details, please refer to our post: https://medium.com/krystaldefi/krystal-is-awarding-10-500-in-1st-video-contest-a0a842a30a07

Jason Vu | Krystal.app 🦇🔊: In addition, we’re also running a trading contest in parallel with total $20,000 prize pool. Anyone just import wallet, and make a trade. then done. Please find more details about this trading contest here: https://defi.krystal.app/campaign

Jason Vu | Krystal.app 🦇🔊: – Done –

Mary Satoshi Club: I assume you already received a lot of good videos?😉

Jason Vu | Krystal.app 🦇🔊: yep, almost 15 – 17 videos I guess

Jason Vu | Krystal.app 🦇🔊: but there are still more rooms for new participants

Jason Vu | Krystal.app 🦇🔊: and with host many campaigns every month, so don’t worry 😎

Mary Satoshi Club: Yes, i am sure Satoshiclubbers will join this contest👍

Jason Vu | Krystal.app 🦇🔊: maybe with your ref code, it’s good for both referrer & referee (trading fee at a discount)

Mary Satoshi Club: Your community never will be bored😂

D. Папа Роуч: this an idea!

Jason Vu | Krystal.app 🦇🔊: yeap, ’cause we consider Krystal as Defi hub, so we aim to connect as much projects to our community as possile.

Mary Satoshi Club: Yes, i am thinking about this😉 refferal codes always work nice!

Part 2 — live questions from the Telegram community

Q1 from Telegram User @Amir21002

Does the Krystal platform have a referral program running? If yes, Will users be able to invite their friends to download the Crystal mobile app? And How many friends can a user invite?  Does it have a specific limit?  And How much Krystal points can be earned when an invited user trades in Crystal?

Jason Vu | Krystal.app 🦇🔊: Yes, we’re running referral program. Just import your wallet & 05 referral codes will be generated right away for you. You can share this to your friends, and earn on every trade of them on Krystal. This program is running perpetually and no further requirement to get that bonus. And no limitation on the number of friends you can invite. Please head over to this docs for more details: https://support.krystal.app/support/solutions/articles/47001181546-referral-program
Krystal platform is backed by many big VCs and investors like #Hashed, Crypto.com, Signum Capital, HyperChain, Arrington, BlockTower, DefiAlliance, ArkStream Capital & Coin98 Ventures

Q2 from Telegram User @iam12312

Krystal has Raised 6.6M to build Multi-Chain Defi managament platform, Who were the investors in this round? & How this fund help to build your platform?”

Jason Vu | Krystal.app 🦇🔊: but we raised fund in equity, not token. That fund is enough for us to build our platform in at least 02 years. Regarding other fund raising rounds, we will announce in the future.

Q3 from Telegram User @Kargil1999

Last Month, Krystal Partnered with Venus protocol,
How does this Partnership going to Benefit users

Jason Vu | Krystal.app 🦇🔊: Krsytal do native integration with Venus – the biggest lending platform on Binance Smart Chain. This integration help their users to access lending/borrowing in ease on mobile devices via Krystal. We’re also planning to run a co-marketing campaign next month. Please stay tuned!

Q4 from Telegram User @Yesha_4

Will you have any other DeFI features in the future, such as staking, yield farm, or NFT? Could you tell us about your roadmap? What is the mission and vision of your project? What are the most significant achievements you’ve made so far

Jason Vu | Krystal.app 🦇🔊: We’re working on it. Thousands features are in the queue to be implemented. So we ensure that user can find all Defi services they need in our platform. Regarding the vision of Krystal, we’re trying to bring the best experience, remove the complexities & difficulties for end users. In addition, we also do anything we could to bring better finance for every users (from retailers, small fishes & whales).

Q5 from Telegram User @ashwini_Crypto

What main Features are there in Krystal app?
Is it only suitable for the Defi users?

jarvis: Right now Krystal is focusing more in DeFi with DEX swaps and earning protocols (Venus, Aave, Compound). However, Krystal is still a wallet management which is suitable for all Blockchain users.  We are working hard to provide the best experience as a 1 platform – all defi wallet.

Q6 from Telegram User @Pokerlight

Can I add my own tokens and add liquidity to them? Krystal allow this funtions like Pancakeswap

Jason Vu | Krystal.app 🦇🔊: Any token are available on Uniswap/PancakeSwap/SushiSwap/QuickSwap/Kyber: you can add their token ID in Krystal platform, then here you go. Krystal will find the route with the best rate for your every trade. In the future, we will allow user to add liquidity & join liquidity mining on our platform. @jarvis57 is working very hard on it. 🙂

Q7 from Telegram User @cryptofollower

As Krystal is one single stop shop for a lot of coins is it possible to make cross chain swaps with Krystal

jarvis: Bridging is still a risky thing with lots of security concerns. Right now we are working on R&D for cross-chain swap and cross-chain split trade. However, there is no confirmed date for this feature yet.

Q8 from Telegram User @Antoni_azx

You have recently published an announcement about a Game Token Contest in Krystal DeFi, some tokens involved are $AXS, $MANA, $SAND, $ALICE and many more which I find incredible since they are all great projects, could you tell us what is behind these collaborations? What relationship does Krystal have with the blockchain gaming world? Could it become a permanent collaboration on your platform with these games

Jason Vu | Krystal.app 🦇🔊: We have close friendship with some NFT games. As you know, many of them come from Vietnam – the same country we’re based in, for example: Axie Infinity, My Neighbor Alice, Faraland, My Defi Pet, etc. In addition. So there is no difficulties to work with them. In addition, as you know NFT game is trendy right now, we already customize promotions/contests based on demand of users. They want to trade with those NFT game tokens, so we encourage them to trade with $20,000 worth in total prize. Please read more details & participate in our trading contest on the link: https://defi.krystal.app/campaign

Q9 from Telegram User @ronaldo_super

About the NFT’s I wonder will it be possible users to sell NFT directly inside the Krystal Application in the future?

jarvis: As mentioned, NFT marketplace integrations will be the next step, that you can buy and sell NFT directly insides Krystal. Further than that, we are also trying to integrate deeper with NFT projects, which user can play the game or at least do some interactions with the NFT inside Krystal.

Q10 from Telegram User @Ecmq10

Krystal first launched as a Mobile Application in April 2021 (on iOS and Android), and you now bring the Desktop Web Application to your users. What excites you most about the Desktop Web Application? I have seen other projects that prefer to launch the web application first and then the mobile application. Why did you decide to launch the mobile application first?

Jason Vu | Krystal.app 🦇🔊: the last question: “🌼Krystal first launched as a Mobile Application in April 2021 (on iOS and Android), and you now bring the Desktop Web Application to your users. What excites you most about the Desktop Web Application? I have seen other projects that prefer to launch the web application first and then the mobile application. Why did you decide to launch the mobile application first?”

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of Krystal . They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.

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