Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Izumi and our guest was . The AMA took place on the 9th of December.
The AMA session was divided into 3 parts with a total crypto reward pool of $500
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Mary | Satoshi Club:
Hello Satoshi Club! We are happy to announce our AMA session with Izumi! Welcome to Satoshi Club
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
Hello dear Satohiers!
We continue our AMA session with our guests from IZUMI Finance
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
@JoeDoe21 Welcome in Satoshi Club!
Dima:
Hello everyone, I am Dima from izumi Finance! happy to be here with you.
Mary | Satoshi Club:
Hello Dima, happy to have you here today
Mary | Satoshi Club:
How are you?
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
It is our pleasure as well to have you as a guest
Dima:
Feeling great and very excited to share with you new project that is called izumi Finance, the first protocol that supports t Programmable Liquidity as a Service.
Dima:
Thanks for asking!
Mary | Satoshi Club:
Awesome! Than let’s start our AMA with intro
Dima:
Sure!
Mary | Satoshi Club:
Could you please introduce yourself and tell us more about Izumi
Dima:
Thanks, Hello everyone! I’m Dima from izumi Finance, very happy to meet you guys. Izumi Finance is the first protocol to support Programmable Liquidity as a Service (LaaS) and extend to multi-chains.
Dima:
Izumi Finance wants to help liquidity providers earn additional liquidity mining rewards as well as trading fees on Uniswap V3. On the other side, it will help protocols attract liquidity in an efficient and lasting way.
Mary | Satoshi Club:
What is your position at Izumi? And could you introduce your team for our community . Who are in it? How big is it?
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
Are you a country-based project or spreaded in a world wide network?
@JoeDoe21
Dima:
Sure! I am co-founder of Izumi Finance. We have a big international team from different parts of the world.
Dima:
Izumi Finance is founded by DeFi veterans from Binance, Huobi, PancakeSwap. We have strong technical strength and industry experience.
Mary | Satoshi Club:
How big is it? Are you public or anonymous?
Dima:
We are anonymous and we have 25 people in the team
Mary | Satoshi Club:
Gotcha!
Mary | Satoshi Club:
How long did you develop your project?
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
Is there any chance in the future you will go public or you prefer to stay anonymous?
Dima:
We have been developing it since UniSwap v3 was realized.
Dima:
We got the idea and did lots of research from Q1, 2021
Mary | Satoshi Club:
Agree, researchs are quite useful before starting a project!
Mary | Satoshi Club:
Thank you for your intro, Dima! Now let’s dive deeper into the details of Izumi with the questions from our community . Ready for them?
Dima:
Sure, let’s do that!
Mary | Satoshi Club:
Q1 from Telegram user @iceVermithraxx
Izumi Finance provides Programmable Liquidity as a Service (LaaS) firstly on Ethereum with Uniswap V3, and then will extend the liquidity service to multi-chains with built-in DEX and I understand that that izumi Finance has 4 modules which include R3 Vault, V3 Toolbox, C-AMM bridge, V3 NFT mining. Can you elaborate on these 4 modules of izumi Finance and their Features? How can users’ access and use each of these Modules of Izumi Finance? Are there plans to increase the number of Izumi Finance Modules?
Dima:
Thanks for the question! we could say the 4 modules is the early stage, now we have ：LaaS on Uniswap V3:LiquidBox
The izumi Finance LiquidBox provides programmable liquidity mining (LM) tools with Uniswap v3 LP NFT, which enable protocols to provide incentives precisely and efficiently in certain price ranges, which can optimize liquidity distribution and encourage users to stake Uniswap V3 LP tokens to earn extra rewards.
Dima:
Discretized liquidity AMM on multi-chains: iZiSwap
Extend concentrated liquidity service like Uniswap V3 to multi-chains. Limit orders will be supported with iZiSwap, and it will be compatible with orderbook and Uniswap V3 that enhance capital efficiency for multi-chains.
Mary | Satoshi Club:
Can you explain on example how useful it can be for average user?
Dima:
iZiSuite: including the C-AMM Bridge, to support various demands for the future of on-chain trading!
izumi’s C-AMM bridge to make the cross-chain transaction cost less than 1 minute and with a low gas fee. Also it including the multi-chain trading infrastructure and relay network and build more trading tools with the community.
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
What are the requirements to use Izumi LiquidBox?
Dima:
Sure , just stake their LP token and earn rewards or even double farming rewards! When they provide liquidity on Uniswap V3 to earn trading fees, theywill also get an NFT LP token that represents their Liquidity share.
Dima:
Users can stake your NFT LP token on izumi.finance to start farming and earn extra incentive tokens provided by different project teams and izumi governance tokens.
Mary | Satoshi Club:
Is your platform already live?
Dima:
The protocol will be officially launched very soon.
Mary | Satoshi Club:
Oh, got it!
Dima:
In late December it will be live.
Mary | Satoshi Club:
Thank you for your answers! Ready for the next question?
Dima:
Izumi Finance only lets the users stake their UniV3 LP NFT (not the principal) onto izumi Farming Platform so the principal of liquidity will be kept in Uniswap V3, it will be very safe and no chance for izumi team or anyone else who are able to access the principal.
Dima:
Done
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
Q2 from Telegram user @chinyere2020
I learnt that the Izumi testnet is live at the moment? Can you give some details about this testnet? How long will this testnet last? How can users participate in your testnet? Are there any requirements that users must meet to be eligible to participate in the Izumi testnet? Where/How can users get a guide on how to go about the Izumi testnet? Will there be any form of incentives that are users who participate in the testnet will enjoy?
Dima:
Let’s answer on the next one
Dima:
Thanks for the question!
Dima:
If you want to test our testnet, please, fill out the form with the following link(https://forms.gle/XCRm3v4UohiU4iS18)and tokens will be sent to you in a short time. Unfortunately, no incentives are given for using testnet, however, you can check our weekly meeting where you have a chance to get whitelisted for the IDO in late December.
Dima:
Done
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
Where will be the IDO?
Mary | Satoshi Club:
Which network do you use for your testnet?
Dima:
The details about IDO have not be announced yet, please follow our official channels for the latest updates.
Mary | Satoshi Club:
We definitely will
Dima:
It’s our private network.
Mary | Satoshi Club:
Hm, i don’t understand, sorry) Projects, for example are using Ropsten, Rinkeby on Eth)
Mary | Satoshi Club:
As well as another blockchains have the same test networks
Dima:
Yeah , but some projects use their own built networks like networks you mentioned above.
Mary | Satoshi Club:
Oh, that’s cool!
Mary | Satoshi Club:
Thank you for your answers! Ready for the next question?
Dima:
Go ahead with the next one!
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
Q3 from Telegram User @Highpee
You will have two tokens which are iZi and ve-iZi. These two tokens will have a boosting feature. iZi and ve-iZi will allow users to earn a boost of up to x2.5 on liquidity incentives. I will like to know how these tokens will enable further earning boosting, dividends distribution and individual earning weight is determined. Will this require staking or lock up for a specific duration? Is this feature applicable to all created pools within Izumi concentrated liquidity platform or is it limited to some selected UniV3 liquidity mining incentives project pools? Also, can you provide an overview on each tokens and their relevance apart from their boosting feature?
Dima:
Thanks for the question!
Dima:
iZi token holders could stake their iZi token for any specific liquidity mining pool without any lockup period.The boost mechanism will calculate your earning weight by taking the smaller amount of two values. It will be possible for every pair that are available on our platform.
Dima:
This algorithm is designed according to the CURVE boosting algorithm
Dima:
iZi token is izumi platform’s utility token, it can be used to pay for cross-chain trading fees, incentive pool set-up and other tools’ usage.
Mary | Satoshi Club:
Could you share your tokenomics with our community please
Dima:
Additional, users need to stake iZi token to acquire ve-iZi token, which is izumi platform’s governance token that enable holders to be eligible for a range of benefits and participate in governance.
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
How many tokens should we introduce to staking and for how long?
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
Do you have some tiers regarding the staking system?
Dima:
sure , total supply is 2 bilion
Dima:
We don’t have any tiers with the staking.
Dima:
55 % will be distributed and owned by the ecosystem which will facilitate modern DAOs norms in the future.
Mary | Satoshi Club:
Will you have lock up periods for staking?
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
How about vesting time?
Dima:
Yes, we will have lock up periods for staking ve-iZi token. ve-iZi is not tradable or transferable and can only be obtained by staking iZi tokens. The amount of the ve-iZi balance is based on the amount of iZi tokens locked
Dima:
The vesting time as follows :
Dima:
Dima:
Here you go
Mary | Satoshi Club:
Thank you for your answers! Ready to jump to the next question?
Dima:
Sure
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
Q4 from telegram user @Rotoxy
You plan to operate as a multi-chain and your aim is to enable multi-chain users a privilege to utilize the rich financial benefits of Uniswap V3’s concentrated liquidity. These will be made possible using your cross-chain and Concentrated Liquidity Automatic Market Maker which you fondly like to call C-AMM. I will like to know how the multi-validator relay network of C-AMM is used to create a bridge between chains and how users from external chain can use it to financially benefits of Uniswap V3. How does C-AMM auto adjusts exchange rate or utilizes arbitrageurs and market power when auto-rebalancing between two reserve pools thereby ensuring capital efficiency which is a crucial when liquidity is segmented into different chains?
Dima:
Thanks !
Dima:
The pool will be officially controlled at the beginning, and we will subsequently open it up to users to add liquidity.
Dima:
Cross-chain liquidity-swap: reserve pool of tokens on each side. The user experience will be like sending USDC to the reserve pool on ChainA and receiving USDC from the reserve pool of ChainB a while later.
Mary | Satoshi Club:
Which blockchains you will add for your multi chain operations?
Dima:
It shall be noted that the transferred USDC is officially issued token instead of bridge wrapped token.
Mary | Satoshi Club:
That’s nice
Dima:
Such as Ethereum, Binance Smart Chain, Polygon, Optimism, Fantom, Harmony, Cardano, and Solana, for example. All EVM-compatible chains will be added first and then Solana and Cardano.
Mary | Satoshi Club:
Great! A lot of chains!
Dima:
We extend the Uniswap V3 to multi-chains and hope we could help Defi users to enjoy the capital efficiency.
Mary | Satoshi Club:
Thank you for your answers! Ready to proceed?
Dima:
Yeah , please go ahead for the next question!
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
Q5 from telegram user @UniqueVicky
I saw that izumi finance has partnered with several companies including leading popular organizations like EVEREST VENTURE GROUP – a fintech studio focusing on the future of finance and digital assets, Tess venture,lucidblue venture,puzzle venture,YOUBI CAPITAL, ICG(a multi-mission organization) and some others.can you explain the basis and the extent of your relationship/ partnership with these companies? Can you please discuss to us what value could this formed partnership brings to izumi finance’s table? How will this partnership assist you in risk assessment, liquidity services etc? What workability structure of these companies have you adopted to into izumi finance,and in what will this optimize the your platform?
Dima:
Thanks for the question.
Dima:
As we are the first protocol to support liquidity mining on UniV3 and we got lots of support from Uniswap,we have be invited to their “Uniswap Community Call #14” and attracted about 200 Uniswap community members participating.
Dima:
We are constantly probing the ecosystem for new partnerships that are mutually beneficial.
Dima:
We’ve already got solid support from the investors and partners from like Bybit, Polygon, Dodo, Nansen, Perp.
Dima:
Done
Mary | Satoshi Club:
Thank you, very detailed answer! Btw, we had ByBit here today! Great guys!
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
By the way, have you done the Audit?
Dima:
btw today we closed our 2nd round of fundraising https://cointelegraph.com/press-releases/izumi-finance-closes-series-a-fundraising-with-35m-from-defi-and-crypto-investors
Mary | Satoshi Club:
Congratulations with this
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
Or when it is planned and by whom?
Dima:
Security always be the first and it has been done already by CertiK
Dima:
Thanks!
Mary | Satoshi Club:
That’s nice! Congratulations once again!
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
Can you share the link with us please?
Dima:
Audit reports will be released very soon
Mary | Satoshi Club:
We will follow your updates
Mary | Satoshi Club:
Thank you for your answers! Ready for the 6th and last question from this part?
Dima:
let’s go for the last one !
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
Q6 from telegram user @victorogb
Late last month, Izumi Finance launched its Global Ambassador Program with the aim to reward its enthusiastic community. Since programs of sort are usually adopted my major projects as part of their concerted marketing approach, can you talk extensively on the specifics with the Izumi Ambassadrs Program, cam you brief us on the selection process? What qualities is Izumi Finance looking out for from its prospective Global Ambassadors? Also, is stated that this program will run along side a series of community building tasks, can you briefly shed some insight on this?
Dima:
Sure, we really want enthusiastic community members to become our Ambassador. And we want our Ambassadors to both have the motive and ability to carry these things.
Dima:
Here is something about Ambassador tasks of the first month
- Attend weekly community calls in discord and invite people to attend
- Responsible for the corresponding language channel in discord and inviting people to join. Keep the channel active.
- Responsible for forwarding official information to your own channel and translating and explaining, such as official daily tweets and some important news or events.
Dima:
https://izumi-finance.medium.com/global-ambassador-program-of-izumi-finance-e3141349fcfa
the link for the ambassador application.
Dima:
Done
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
Do you have some local communities already?
Dima:
We have at the moment Russian, Spanish, Turkish, Chinese communities and very happy to extend the amount of local groups.
Mary | Satoshi Club:
Thank you for your answers! Please share your official links with our community, so they won’t miss important news
Mary | Satoshi Club:
Satoshiclubbers, join
Mary | Satoshi Club:
And are close to the live part now
Mary | Satoshi Club:
Dima, are you ready for the storm of questions?
Dima:
I am ready
Mihai Pisica | @Satoshi_Club | AMA/Marketing Department:
Prepare you umbrella
Mary | Satoshi Club:
Let’s go .
Part 2 — live questions from the Telegram community
Q1 from Telegram user @habibi_ve:
Is Izumi accessible to small investors? How much would be the minimum amount I could start with to grow? With low amounts, how high would the APRs be?
Dima:
First, you could farm with no limit of money ticket size, even $10 could farm and get around 300% APR
Second, we will support multi-chains and support service on your favorite chain. The gas fee coud be less than $0.1 so no worries about not being able to join izumi LiquidiBox!
Q2 from Telegram user @smelekin:
Do you have in mind to create any Ambassador Programs for reaching people in different countries?
Dima:
please check the following link regarding ambassador program https://izumi-finance.medium.com/global-ambassador-program-of-izumi-finance-e3141349fcfa
Q3 from Telegram user @doithay1617 :
The name “izumi” sounds like it comes from Japan, right? And what does it mean to the team?
Dima:
Izumi, meaning “the spring of water” in Japanese, also stands for liquidity in the crypto world.
Q4 from Telegram user @Manugotsuka :
In Izumi, liquidity providers receive incentive rewards based on a value range set by users. If the value range is met, the LiquidBox will issue a liquidity mining token reward for the provider based on the incentive program. What happens if the price exceeds the range?
Dima:
If the current price is out of range, u can’t get the trading fees of cause, but if it still in the incentive range, u also can get incentives
Q5 from Telegram user @Urmilaakt :
izumi Finance is said to be built on Ethereum network with it’s Ticker as iZi an ERC-20 token on Ethereum. Considering the high gas fee associated with Ethereum, why did you choose to build on Ethereum network? Have you partnered with any Layer 2 protocol to solve this high gas fee? What are your plans for Cross-chain and Interoperability adoption with networks like BSC or Polygon with lower gas fee and faster transactions?
Sir.
Dima:
Because there is most TVL on Ethereum network. Sure, we will work on that and cooperate with the Layer 2 protocol. But before that, we will build our products on other networks with lower gas fee like BSC or Polygon.
Q6 from Telegram user @alptrader:
One of the most important thing about a success of a project is partners so do you have any strategic partnerships?
Dima:
Of course, we have lots of partners right now. We have just finished our 2nd round of fundraising and many big guys have invested in us like Mirana Ventures, IOSG, Cadenza, FENBUSHI, EVG, Hashkey, GSR, CyberX, Bixin, WOO Network, Dorahacks, Gate Labs, MEXC and individual investors from Nansen, Perp, Chainlink, and Babel..
https://cointelegraph.com/press-releases/izumi-finance-closes-series-a-fundraising-with-35m-from-defi-and-crypto-investors
Cointelegraph (https://cointelegraph.com/press-releases/izumi-finance-closes-series-a-fundraising-with-35m-from-defi-and-crypto-investors)
izumi Finance closes series a fundraising with $3.5M from DeFi and crypto investors
izumi, the innovative protocol that provides programmable liquidity mining on Uniswap V3, has successfully closed its Series A .
Q7 from Telegram user @yasindkz:
What vital problems will you solve in DeFi with Izumi? Will you also offer new services to solve different DeFi related problems in the future?
Dima:
Izumi Finance wants to solve two crucial problems faced with many Defi protocols and users:
- Incentive inefficiency
- 2.Pool 2 dilemma – high APR incentives brings high inflation rate and sell pressure
izumi’s Liquidity as a Service could help projects distribute incentives in an efficient way to attract liquidity on Uniswap V3 and meanwhile we help liquidity providers on Uniswap V3 earn more rewards other than just trading fees.
That’s can make protocols and liquidity providers to reach a common goal，not a conflict.
Q8 from Telegram user @MOONB0Y:
I tried entering your website using different devices and browsers but it took so long to load, is that a problem in my internet connection or is it in your website and you guys are working on it ??
Dima:
sorry for the inconvenience, however, we havn’t official launched our website, and our tech team is probing and testing sometimes. It’s may lead to some loading problems or some bugs.
Q9 from Telegram user @Mejaniyam :
Can you speak on how can get started on Izumi platform and will one need to go through KYC before registering on your platform?
Dima:
No need for KYC, we are on Web3. The only thing you need is onchain wallet like Metamask and check our website http://izumi.finance , then u could enjoy the high APY farming with izumi.
Q10 from Telegram user @atillayeni :
Does your smart contract involve any airdrop mechanisms for the community and are there any bounties for the community?
Dima:
Yeah, there will be support of such functionality . Normally, there will have a weekly community call on Friday, and more online events wherein you can earn points. In the future, there’ll introduce more point-based rewards, like points for airdrops,etc.
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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Telegram –https://t.me/izumifinance
Medium –https://izumi-finance.medium.com/
WebSite – https://izumi.finance/
Twitter-https://twitter.com/izumi_Finance