PART 1. Introduction of Pledge project and community questions.
Hello, Satoshi clubbers and guests of this site. Let’s talk today about DeFi protocol not like another most available lending protocols.
Pledge Foundation is The Decentralized Lending Protocol for All built on the Binance Smart Chain. Pledge answers the need for longer-term financing, mainly serving crypto-asset holders to diversify their portfolio with non-crypto assets, e.g. real estate, without the friction of portfolio.
The plan of AMA session:
- Part – Introduction and preselected questions.
- Part – Live questions
- The Quiz about Pledge
The reward pool is 500$
Leading the AMA our clever and fun admins:
Jonah 🏅🎹 | Satoshi Club – @Jonahapagu
D. | Satoshi Club – @Cool_as_Ice
The Representative of the project:
MR – @AIbutBlockchain – leading the product and engineering
BTC Master – @chentschel – @BTCMASTER_985
Introduction of Pledge project.
- | Satoshi Club:
Hello everyone! We happy to start our ama session with pledge foundation! Today our guests – @btcmaster_985 and @aibutblockchain!
Welcome to Satoshi Club!
Jonah 🏅🎹 | Satoshi Club:
@aibutblockchain and @btcmaster_985 welcome to Satoshi Club we are glad and excited to have you here today
Btc master:
Thanks guys, allow me to introduce albutblockchain!! Doctor.ren
Mr 💎💎:
It is with great pleasure, Jonah!
Btc master:
We are honored to be here at Satoshi Club!!! The best, biggest crypto community in the world. For the following duration, I want to hand over the mic to Michael
D| Satoshi Club:
Thank you, a lot! ☺️ and we are very happy to have you here! 😊
Mr 💎💎:
So excited to be here today. Heard about you guys for a long time
D| Satoshi Club:
Many thanks! 😊 so if you are ready we will begin our ama with short intro🙂
Jonah 🏅🎹 | Satoshi Club:
I believe Michael is fully ready with his mic 😉
Mr 💎💎:
A bit info for me. I myself worked for more than 15 years in fintech and have a phd in ai from a high profile university in us. Before creating pledge, I was the chief scientist for a hk based lending company with global assets of 100b. In pledge, I am leading the product and engineering to enable massive innovation in ecosystem for financial nft and open finance.
Pledge is, unlike other defi such as makerdao/compound/aave etc, designed as an interest yield marketplace. It is a cross chain, cross border, cross industry ecosystem that enables developers and traders to create a new wall street.
Done
D| Satoshi Club:
Sounds interesting! Pledge is your first project related to crypto?
Jonah 🏅🎹 | Satoshi Club:
With your background you are very much ready for this.. 👏
Mr 💎💎:
I start crypto 5 years ago. Before pledge, I was mainly in mining area. So yeah, pledge is my first defi proj. I also participated in mining ic design, supply chain finance using blockchain etc.
Done
D| Satoshi Club:
👍 great start in defi! As I see pledge is chasing are very ambitious goals 😊
Jonah 🏅🎹 | Satoshi Club:
Yes, and I’m sure members of the club are excited to learn about them today
D| Satoshi Club:
@btcmaster_985 @aibutblockchain guys big thank you for intro! If you are ready we can move on to the questions from our community?
Mr 💎💎:
Very tryue, d. Sure, let’s start
Preselected questions about the Pledge DeFi project.
D| Satoshi Club:
🚀🚀🚀🚀🚀
Q1 from telegram user @asela1112
$plgr token sale will be begun on 05th of september & will last on 17th of september. And also registration for the public sale will be opened until 27th of september. So can you tell us the registering procedure step by step? Is kyc process compulsory in the registration event? How much is the percentage of allocation for public sale from total supply? What is the price of a $plgr token? What are the rules & regulations that you impose in public sale? Along with the public sale, is there an airdrop within pledge finance ecosystem? Will you conduct more token sales in future?
Mr 💎💎:
Sure. 1 the registration procedure can be found here at sale.pledger.finance. It is almost over so my dear Satoshi Club members please act quick. We got over registered for this time
D| Satoshi Club:
Hurry up Satoshi Club! 🥳
Jonah 🏅🎹 | Satoshi Club:
Lots of interest. 👏
Mr 💎💎:
2 step-by-step guide can be find here: https://www.youtube.com/watch?v=j8totgt04mm
Please follow our social media so you can get everything you need from usThe public sales registration ends on 9/27 11.45pm est, only one day left
D| Satoshi Club:
Oh I see there will be a live queue, so if you passed kyc and everything is not guarantee that you get a tokens
Mr 💎💎:
Here is the token distribution
D| Satoshi Club:
https://twitter.com/pledgerfinance
Mr 💎💎:
In pub sale you will be put in a queue and take a number. If you are called, please please finish your purchase in 30min. Do not let other ppl grab your order lol
D| Satoshi Club:
Yeah, good info 😁👍
Jonah 🏅🎹 | Satoshi Club:
So if your order is grabbed is that all for the user. 😁
Mr 💎💎:
Yes, this is because we are overly booked. Hundreds of thousands of users want to purchase. And our service provider tokensoft told so.
D| Satoshi Club:
@aibutblockchain thank you for answer! I think we done with this question and can proceed to the next one?
Mr 💎💎:
Done
D| Satoshi Club:
Q2 from telegram user @rotoxy
Pledge ecosystem will play host to two governance ecosystem tokens: plgr and master-plgr (mplgr). Why is it necessary to introduce two separate tokens that perform similar governance functions? Also, mplgr holders will be able to override plgr decisions when exercising governance functions? How do users obtain plgr and who are the ones that are granted access to mplgr? And does it means that holders of mplgr are more esteemed and valuable within your protocol? How will governance be done without creating unfriendly friction between both token holders?
Mr 💎💎:
Great question! Let me elaborate…
D| Satoshi Club:
And which one of these two tokens will be on sale?
Mr 💎💎:
Pledge is now built on the binance smart chain (bsc) and utilizes a dual governance token mechanism called plgr & master-plgr(mplgr) tokens. Plgr tokens are the utility and junior governance vehicle on the pledge protocol, whereas mplgr is designed to help handle a set of advanced governance decisions for the platform, which may influence the economic policies and incentive’s structure parameters across the whole ecosystem. Plgr is also a utility token, but it helps balance the ecosystem by being available to more users, thus encouraging users to staking.
The lenders earn plgr tokens and interest by depositing crypto currencies into the liquidity pool. The borrowers deposit their collateralized crypto assets into the liquidity pool in order to hedge against the crypto market risks and borrow out money to carry out their day-to-day activities.
With an innovative bridged dual token structure in pledge, one crypto asset can function as a yield farming vehicle while the other can function as a governance vehicle.
Plgr(pledger token) is the yield farming and utility token for defi applications, first deployed in bsc environment, with polkadot, heco, polygon, ethereum versions potentially being created down the road. Each environment is expected to have its own token standards, and each version of plgr token is swappable across different blockchains.
Mplgr (master pledger token) is the master governance token, that is initially based on erc20 token standard, with future bsc standards to launch. Mplgr is used to make governance decisions for the entire pledge ecosystem, and update any key parameters and token economics as needed.
So this time only plgr is on sale
Done
D| Satoshi Club:
What will be total token supply of mplgr? The same as plgr?
Jonah 🏅🎹 | Satoshi Club:
And how will users acquire mplgr will it also be through a sale like plgr?
Mr 💎💎:
Mplgr is very limited. At any given time t, the total amount for plgr+3*mplgr is 3b. This is in smart contract.
D| Satoshi Club:
Got it
Jonah 🏅🎹 | Satoshi Club:
Great.. 👍
Mr 💎💎:
Users will join pledge ecosystem and earn plgr. He/she can swap the plgr to mplgr for more governance activities.
Done
Pledge finance is the world’s next-gen open finance building blocks based on financial nfts. So please join the ecosystem to make it happen!
Jonah 🏅🎹 | Satoshi Club:
Awesome will the ratio of swap depend on the prices of each?
Mr 💎💎:
The swap ratio between plgr and mplgr is fixed on-chain at a ratio of 3:1, with the total supply of plgr + 3*mplgr = 3,000,000,000 (3 billion tokens). The plgr and mplgr swap bridge is decentralized and based on smart contracts.
The swap from mplgr to plgr token is 1:3, and each mplgr can be swapped to 3 plgr instantly through the swap bridge
The swap from plgr to mplgr token is 3:1, and there is a delay time of w (wait time), and a swap threshold of t number of plgr per month / per block.
D| Satoshi Club:
Thanks! Detailed explanation 👍
Jonah 🏅🎹 | Satoshi Club:
I see.. That means the supply of mplgr will always be plgr/3 don’t know if my maths is correct.. 😁
Yeah.. Well detailed I must say
Mr 💎💎:
Not exactly. The economy balance is plgr+3*mplgr = 3b
Jonah 🏅🎹 | Satoshi Club:
👍 clear enough
Mr 💎💎:
You will see interesting dynamics from the ecosystem, when it starts
Jonah 🏅🎹 | Satoshi Club:
The signs are positive..
Mr 💎💎:
Yeah, bring them on, d!
D| Satoshi Club:
@aibutblockchain many thanks for answer! Ready for the next question?
Q3 from telegram user @orlemys
Ptokens are the building blocks of the pledge platform. However, I noticed your tokens are pegged to stablecoins. Why is that? Would you please explain which is every one of these ptokens, what are their specific functions within your platform, and why you chose to have multiple tokens pegged by already existing ones, instead of a native one?
D| Satoshi Club:
Yeah, it would be interesting to know, what are those ptokens…
Mr 💎💎:
Pledge is a decentralized protocol which establishes money markets with algorithmically optimized fixed interest rates. When a user holds ptokens, pledge’s lp tokens, they receive a fixed interest rate called annual percentage yield (apy) with earnings accumulated per block, while borrowers pay fixed and predictable interest. Unlike other defi lending protocols, pledge creates various liquidity pools with different maturities for a given crypto asset featuring fixed lending terms. This allows users to frictionlessly exchange the time value of money derived from collateralized digital assets and stablecoins.
So stablecoins are for collaterals. Ptokens are lp tokens.
Based on ptoken, pledge provides a suite of decentralized financial contracts, defined as financial nft, hoping to facilitate its use and adoption as an integral part of the fixed income money market. These derivative trade smart contracts, which typically swap fixed-rate interest payments for floating-rate, interest payments are an essential tool for defi investors who can use them in an effort to hedge, speculate, and manage risk on or cross chains.
So indeed ptoken will be an nft.
D| Satoshi Club:
Very cool! How many liquidity pools are you plan to offer to your users? All pools will include pair to stablecoin?
Mr 💎💎:
Eventually a pool in pledge will have a thousand of tokens backed by financial nft. Right now we start with pair of stablecoins.
Jonah 🏅🎹 | Satoshi Club:
Can you also explain what this suite of decentralized financial contracts defined as financial nft’s are.. Not sure i’ve heard it called this way before..
D| Satoshi Club:
Great for start, starting with something stable
Mr 💎💎:
Sure, Jonah, let me address this very good question here:
Our goal is to build foundational technology and create building blocks for the next generation of decentralized and open finance. Unlike other defi projects, pledge is designed to allow the creation of innovative structured and collateralized lending products. These include fixed interest rate swaps, refinancing, and financial derivatives around credit markets in order to allow investors to build diversified portfolios tailored to whatever level of risk exposure they are comfortable with. These kinds of markets do around $500 trillion in trade volume every year. Innovations in fixed yield vaults, variable yield vaults, tokenization of yields, and seniority of bonds – represented in pledge using financial nfts – gives pledge a unique position as a “lego building blocks” maker, improvising capital efficiency and reducing liquidity friction.
Jonah 🏅🎹 | Satoshi Club:
We all love stability 😁
Mr 💎💎:
Then, pledge also provides a suite of decentralized financial contracts, defined as financial nft, hoping to facilitate its use and adoption as an integral part of the fixed income money market. These derivative trade smart contracts, which typically swap fixed-rate interest payments for floating-rate, interest payments are an essential tool for defi investors who can use them in an effort to hedge, speculate, and manage risk on or cross chains.
Pledge leverages the latest blockchain technology, especially with erc 1155 to enable the creation of nft to represent each loan, bond, insurance as well as other assets. Pledge’s financial nft supports configurable asset token type, which can have its own terms, metadata, supply and other derivative attributes. A single deployed contract includes a combination of many fungible tokens, non-fungible tokens or other configurations. Financial nft protocols support game and finance developers with interoperability such as transfer, swap and trade, and hence are expected to remove the barriers to entry for almost all traditional financial market participants.
Done
Jonah 🏅🎹 | Satoshi Club:
Your answers are very detailed and clear.. 👏👏👏
D| Satoshi Club:
True!
Thank you! Let’s proceed to the next question?
Mr 💎💎:
Sure Jonah
D| Satoshi Club:
Q4 from telegram user @ajpaa
Pledge finance is offering fixed-rate, medium-term, long-term loans through its first-ever collateral-agnostic loan marketplace backed by decentralized blockchain technology. Traders and non-traders can now use both tangible and intangible assets, such as cryptocurrencies, as collateral against a crypto-based loan. Can you tell us more about your first-ever collateral-agnostic loan marketplace? Which set of tangible and intangible assets can be used as collateral for crypto-based loan and what happens if a collateral price value falls? Who decides the loan’s predefined maturity? Do you have a structure to resolve situations where a user is not able to payback for the loan? Or the user automatically loss the collateral?
Mr 💎💎:
I like these questions. Let me provide the answers.
At the very beginning, only stablecoins in bsc will be supported. Then we will start to add nft and other collaterals.
We are looking for 1b-2b tvl in a couple of weeks after the product launch since there are already whales and miners waiting to use pledge’s product.
We are also in the process to talk with some top 20 defi projects, to be their lp
D| Satoshi Club:
Wow, your TVL will be huge 😁 So your marketplace function will be live right after platform launch?
Mr 💎💎:
We have great ecosystem contributors for the tvl. Nicole chang; ex. Global stratgiest for east west bank. Tony himself is in the real estate finance for 15 years and handles billions value transactions every year.
Yes, that is what we are targeting at. We need more talented developers.
D| Satoshi Club:
Btw can you name some of them? We can keep secrets 😉😄
Mr 💎💎:
Most of them are in nda but some of them are already in our official website such as polygon, mars, harmony and binance
https://info.pledger.finance/ has better info than me, lol
Anyone interested to join the developer team, pease pm me.
D| Satoshi Club:
Awesome chance to be a part of big project 💪
I see there, so they will be auditing your project?
Jonah 🏅🎹 | Satoshi Club:
Satoshi clubbers go..
Those are big names 👏
Mr 💎💎:
Indeed. Feel thrilled to bring them to pledge ecosystem. They can just integrate our framework to have a defi interest yield marketplace. That is my goal
Certik, togather with slowmist and other 3 teams, are working with us now for auditing. Certik has finished the report for token contracts.
D| Satoshi Club:
Nice! You in a good hand, those firms know everything about security and protection 👌
Jonah 🏅🎹 | Satoshi Club:
Yeah.
Mr 💎💎:
Absolutely.
D| Satoshi Club:
Big thank you for answers! Let’s proceed to the next question! 🚀
Q5 from telegram user @josegamboac
The pledge protocol features a special liquidity curve designed to minimize slippage when trading ptokens based on the logit function, which greatly reduces slippage and can create an upper / lower limit of the exchange rate. What is the special liquid curve designed per garment? How does this special commitment cash curve work? What are the advantages of the special liquidity curve?
That’s a soo techie question 🤣
Mr 💎💎:
Since pledge is nft driven, so we use n-dimensional amm for this purpose
Pledge leverages the latest blockchain technology, especially with erc 1155 to enable the creation of nft to represent each loan, bond, insurance as well as other assets. Pledge’s financial nft supports configurable asset token type, which can have its own terms, metadata, supply and other derivative attributes. A single deployed contract includes a combination of many fungible tokens, non-fungible tokens or other configurations. Financial nft protocols support game and finance developers with interoperability such as transfer, swap and trade, and hence are expected to remove the barriers to entry for almost all traditional financial market participants.
Institutions across the globe have a need to swap their credit and debt obligation for liquidity and low cost capital. Pledge aims to service this global financial supply chain via its decentralized ecosystem by building a nft trade ecosystem that interacts across chains. Pledge protocol creates a high-speed interoperability network built to address fundamental problems impeding the mainstream adoption from cryptocurrencies to innovative financial assets for real-world financial applications.
It is like a surface, not a curve, in real world. By doing so, the cap efficiency and the liquidity will be huge. Think about 1000 tokens in one pool.
Done
Haha I like this techy questions. Smart ppl and great community, satoshi!
D| Satoshi Club:
Thank you☺️
I want to ask your about github, will your project be an open source? You planning to put all info on git after launch?
Mr 💎💎:
Yes, pledge will be a dao and all resource will go to ecosystem and community.
D| Satoshi Club:
Thank you a lot for answers! And now it’s time for the last question from part 1? Ready? @aibutblockchain
Mr 💎💎:
Yeah, man
Jonah 🏅🎹 | Satoshi Club:
I will also like to ask what does the n-dimensional here mean, what determines n?
Mr 💎💎:
N is the number of financial nfts in one pool
Jonah 🏅🎹 | Satoshi Club:
👍 got it..
Mr 💎💎:
Hit the button
D| Satoshi Club:
Q6 from telegram user @highpee
The crypto space is renowned for its peculiar volatility nature that all investors passes through in their crypto adventure. However, I read where you said that you will “put an end to market volatility” and I am curious as to how this will be done. Is it that borrowing, lending and liquidation-triggered activities within pledge ecosystem will be immune to floating price hassles and gyrations? In what way will your protocol be able to put an end to emotional market behaviour and the uncertainty that follows? What innovative system will you put in place that can provide appropriate forecasting or risk management in the pursuit to reform unpredictable and volatile market trend?
Mr 💎💎:
Great question from telegram user @highpee! I like it
Keep in mind that pledge addresses a much bigger interest yield marketplace, which could reach trillion $ volume. Most defi lending protocols provide variable rate loans for traders. Pledge starts with a fixed rate and term, primarily focusing on serving whales and miners for their borrowing needs.
And the world loves fixed rates! There is a 500 trillion market for interest rate swap, every year
It was only a matter of time before crypto adapted elements of the $341 trillion interest rate swap market to its own. Traders may now be able to hedge the risks they face from interest rate payment fluctuations in perpetual contracts. And it could also help those lending and borrowing in the decentralized finance (defi) space.
Done
D| Satoshi Club:
Awesome, thank you! 👍
Jonah 🏅🎹 | Satoshi Club:
Thank you for your answers.. 👍
D| Satoshi Club:
Time for the second part of ama 🙃
Mr: 💎💎
Alright, let’s roll
Jonah 🏅🎹 | Satoshi Club:
Our members are eager to ask you questions directly
Satoshi clubbers the group will be opened for two minutes.
D| Satoshi Club:
And we will let them do it 😁
PART 2.Questions about the Pledge project from the live chat of the telegram community.
In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the Pledge crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.
Q – 1 from a telegram user @Ishan1_7
Could you explain your financial NFT concept and why it will be published as an ERC-1155 standard?
MR 💎💎:
What is the Pledge’s uniqueness compared with other defi protocol? (info.pledger.finance)
Financial NFT
Fix-Rated Lending Protocol
Financial Insurance/Hedging byproduct
All of the above
What is financial NFT, and how does pledge planning on building with Financial NFT?
A NFT you can sale on open sea, pledge is going to list them on an open market and sale these NFT
Q – 2 from a telegram user @superhero_898
NFT’s ,
Its true that many Users think it as Collectibles & digital assest,
Why do You think it will be used in Financial Market as well?
How is Pledge using it?
MR 💎💎:
Q – 3 from a telegram user @Deleted
DELETED
MR 💎💎:
SNS
Please check out The official website for most recent updates:https://www.pledger.finance/ for more information
Social Media💎💎
Telegram:https://t.me/pledgerfinance
Twitter:https://twitter.com/PledgerFinance
Discord:https://discord.com/invite/eyEhZfEqyy
Medium:https://medium.com/pledge-finance
GitHub:https://github.com/pledger-finance
telegram: https://t.me/pledgerfinance
https://coinmarketcap.com/currencies/pledge/
Official videos:
https://youtu.be/aExojLGTQpA
Q – 4 from a telegram user @sweetdoge
As Pledge can be integrated with other blockchains may I know is it possible to get any governance power and voting for future improvements?
MR 💎💎:
Finally, we will partner with COMP AAVE, Pancake etc to be their LP. By plug-in Pledge’s protocols and framework, most defi projects can immediately have interest rate trade capability.
Right now several top 20 projects are down the road to do POC with us. Then their users, liquidity will be ours. 😍
Q – 5 from a telegram user @BJosefina61
What is your vision of expanding protocols to other types of blockchain? do you believe in the future multichain? or in the adoption in Layer2? What are you paying more attention to now?
MR 💎💎:
BSC first, with Polka, Sol down the road.
Q – 6 from a telegram user @Gemshunter22
You mentioned your Public sale is extended. Do you have made any other changes ? how can we stay updated about your project?
MR 💎💎:
Pls go to info.pledger.finance for information. Please go to sale.pledger.finance for purchase. It starts in a week!
Q – 7 from a telegram user @Amila19932
Can we Stake PLEDGE on your platform? Because all the users are looking for passive income methods recently, do you have any future plans on building a staking platform?
MR 💎💎:
Yes, for sure.Staking will be ready in v1.1
Q – 8 from a telegram user @Zohaya
Can you tell us about the main benefits of Pledge Finance that will entice people to adopt it?
MR 💎💎:
Its financial inclusion. We are the FIRST revolutionary NFT based interest rate derivatives marketplace. Pledge was designed to allow users to trade, speculate, and hedge interest rates.
Pledge cutting edge N-AMM technology allows for cross-chain yield markets on the most popular DeFi and CeFi platforms.
Part 3 – Quiz about project
In the final part, we tested the knowledge in terms of the Pledge project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.
Our contacts for more details:
English Telegram group | Russian Telegram group | Spanish Telegram group | Telegram Channel | Twitter | Website
Our Crypto Partner by this AMA: Pledge
Telegram group | GitHub | Tweeter | Website | Discord