UNREAL FINANCE x Satoshi Club AMA Recap from 27th of April

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 UNREAL FINANCE and our guest was Ishan Garg, founder of UNREAL FINANCE. The AMA took place on 27 April.

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 community

Gold Rocket | Satoshi Club: Hello, dear Satoshi Club!

D. | Satoshi Club: 😃

Gold Rocket | Satoshi Club: Today our guest is @ishangarg from Unreal Finance!

D. | Satoshi Club: we are starting our AMA with Unreal Finance!

today our guest – @ishangarg ! 🙌

welcome to Satoshi Club!

Ishan Garg: Hi everyone

Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club @ishangarg 😊

D. | Satoshi Club: how are you doing? 😇

Ishan Garg: Thank you for having me here @GoldRocket27 @Cool_as_Ice

Doing good, thank you 🙂

D. | Satoshi Club: [ 👍 Sticker ]

Gold Rocket | Satoshi Club: We are very excited about the upcoming AMA 😊 and you?

Ishan Garg: Likewise 🙂

D. | Satoshi Club: nice! we will start our AMA with a short intro! 😊

@ishangarg please introduce yourself and your project !

Ishan Garg: sure

Gold Rocket | Satoshi Club: Yes! Introduce youreself. How did you get to be involved in crypto & Unreal Finance?

Tell us please about yourself and your position in Unreal Finance.

Ishan Garg: hi everyone, I am Ishan Garg, founder of Unreal Finance. Prior to Unreal Finance, I was the head of BD for OKEx India

Like everyone else, I too was quite active in the yield farming space during Defi summer and kind of noticed the frustrating problem of fluctuations in interest rate

and this problem led to the solution which would later the basis of Unreal Finance

Unreal Finance tokenizes the future yield of an underlying protocol effectively creating a new synthetic asset class – something similar to interest rate swap markets of traditional finance

D. | Satoshi Club: so you decided start this project not long time ago? are you working alone, or you have team partners?

Gold Rocket | Satoshi Club: You have a great experience for creating your own project, I dare say👍

D. | Satoshi Club: sounds like complex product 😁

Ishan Garg: we are a team of 4 people – 2 brilliant smart contract developers and some amazing marketing people

thank you

Gold Rocket | Satoshi Club: Are you an anonymous team?

Ishan Garg: not really

we are currently updating our website with the new information

D. | Satoshi Club: we can see that you are definitely not anon 😊

Ishan Garg: haha yeah

Gold Rocket | Satoshi Club: Tell us about the benefits of Unreal Finance. How is it different from others platforms?

Ishan Garg: sure

One of the biggest benefit of Unreal Finance is that Unreal Finance allows people to lock-in their interest rate in lending protocol/farm – that is even if the interest rate drop, a person gets their desired interest rate

moreover, users can now speculate on the interest rate (long interest rate or short them depending on the market) in a more capital efficient way

One of the key difference between us and lending protocols/farms is that we allow the above advantages – moreover, through Unreal Finance a user gets the entire interest rate upfront

which they can reuse in a different lending protcol, thus maximising their earned interest

i am done

Gold Rocket | Satoshi Club: Thank you very much for the great intro!

Our community members have prepared a few questions for you!

Are you ready to proceed?🚀

Ishan Garg: Definitely

D. | Satoshi Club: let’s gooo! 🚀

Q1 from Telegram user @dudeiebitch

You talked specifically on the fact that your company is an on-chain decentralized yield futures platform with a mission of allowing people to “earn future yield instantly”. We all know that crypto is not a get rich quick scheme and the fact you used “future” and “instant” in the same sentence, is it not a form of enticement to newbies and only help them loose their money. How do you plan to help them earn future yield instantly, do you plan to trade shitcoins that does not have 100% trust?

Ishan Garg: The reason why we say “earn future yield instantly” is that a person gets a synthetic token on their deposit that tracks the amount of yield generated by their deposit. This yield is yet to be generated hence the word future

this synthetic token can be sold on any AMM for pure cash anytime the user wants (even afte depositing) hence the word earn instantly

done

Gold Rocket | Satoshi Club: thank you very much for the clear answer👍

Will Unreal Finance use his own token?

Ishan Garg: yes

Unreal has its own native token UGT

Gold Rocket | Satoshi Club: Please share more tokenomics😊

D. | Satoshi Club: we have question about token in this part 👀 maybe a bit later?

Ishan Garg: sure

D. | Satoshi Club: thank you for the answer! ready for the next question?

Ishan Garg: as for the tokenomics we haven’t made it public yet, we will be releasing to the public shortly

D. | Satoshi Club: 👍 nice! good to know that!

Gold Rocket | Satoshi Club: thank you very much for the information👍

Q2 from Telegram user @cryptofollower

One of the promises of Unreal Finance is fixed interest rates. On other projects, we are seeing the interest rates and APY’s changing over time depending the liquidity on the pools. What are your technologies for providing a fixed rate of interest and can you share the expected minimum APY for your pools?

Ishan Garg: yes, that’s a good question

The minimum APY depends on the APY provided by the underlying protocol – for example in Compound we see APY’s from 2%-24%

For fixed interest rate, we have introduced a unique three token model. This unique token model separates the principle and the future yield

Gold Rocket | Satoshi Club: This is very promising. Please tell us more

Ishan Garg: for eg: if you deposit 1000 DAI on Unreal FInance, the protocol generates two tokens – 1000 UOS, which are the ownership token, which tracks your deposit and 1000 UToken which track the yield generated by the deposit

assuming the current protocol is Aave and the current interest rate is 33% APY, the user can effectively sell the 1000 UToken for 330 DAI

and get the interest rate upfront, effectively locking your yearly interest rate

done

D. | Satoshi Club: so we can deposit funds directly into your platform? without needs to use Comound and Aave for example?

Ishan Garg: yes, we act as a layer on top of compound/aave

D. | Satoshi Club: got it. thanks for the clarification 👌

Gold Rocket | Satoshi Club: This is a very original model! Thank you for the clarification! Are you ready to proceed to the next question?

Ishan Garg: sure

Q3 from Telegram user @NataliyaKil

I read that Unreal Finance has UToken is a synthetic token minted by the protocol generated by the protocol and UOS is the Ownership Token for Unreal Finance. What functions and purpose do they have, users should own both tokens, how can they get them, and are these two tokens enough?

Ishan Garg: sure

As soon as you deposit on Unreal Finance, two tokens are generated UOS and UToken

UOS is the ownership token, that is it represents your share in the total deposited funds.

While UToken tracks the yield generated by your deposit from the total yield generated

depending on what kind of strategies you want to perform you buy/sell/hold these tokens

i hope this helps in understanding Unreal

done

D. | Satoshi Club: thanks! what types of wallets your platform will support? if let say i use metamask, after deposit on your platform, both of these tokens will be visible in my wallet without need to add them customly?

Ishan Garg: so yes we will be supporting Metamask, Walletconnect, Wallet link

and the tokens are automatically added to your wallet once minted

D. | Satoshi Club: nice! very convenient

Gold Rocket | Satoshi Club: Thank you for such clear answers! Are you ready for the next question?😉

Ishan Garg: sure

Q4 from Telegram user @h1drX

I was reading your future plans and I saw that you are actively working on “Layer-2”, can you tell us a bit about this new implementation? What benefits will you bring to Unreal Finance? Since when are you working on this improvement? And finally, can you tell us when it will be released approximately?

Ishan Garg: ofcourse

D. | Satoshi Club: everyone wants Layer-2 asap 😄

Ishan Garg: haha true

although, we are fairly early in L2 implementation. We want to bring a new architecture there, we want to keep funds on L1 but allow users to trade and manage positions on L2, we will share more updates as we progress with our community in the coming months

done

D. | Satoshi Club: thank you! are you looking more into optimism or zk rollups? 😉 regarding to L2 implementation

Ishan Garg: optimism first

D. | Satoshi Club: got it! 👌

thanks for the answer! let’s jump to the next question! 🚀

Ishan Garg: sure

Q5 from Telegram user @jodasf

You can tell us if there is any type of insurance when making any type of loan within Unreal Finance, that is, you or another external entity takes charge of the installments of said loan if the holder is in any situation that prevents them from paying them?

Ishan Garg: Users can sell their future yield instantly instead of taking a loan through Unreal Finance, much like how alchemix does it

we do not deal with the borrowing side of things, so there’s no liquidation or other problems associated with borrowing.

done

Gold Rocket | Satoshi Club: By the way, tell us a bit about

governance Unreal Finance…

how it works?

Ishan Garg: The community can vote on how Unreal Finance will work and move forward – that is the protocols that will be supported, the fees structure changes, and future updates

D. | Satoshi Club: will you issue your governance token?

Ishan Garg: yes the UGT is native governance token of Unreal

D. | Satoshi Club: oh, understood, thanks! 👍

Gold Rocket | Satoshi Club: Thank you very much for the information! Ready to proceed?

Ishan Garg: yes

Q6 from Telegram user @Indomiekuy

To achieve the revolutionizing of decentralized lending space will be not easy and thats why a project like Unreal Finance must have strong partner. Can we know which project/firm that already makes agreement with Unreal Finance? How are the criteria if other want to join partnership with your project? And what do you expect from partnership?

Ishan Garg: Parnterships are key to Unreal’s success and we would be spending condierable amount of time building new partnerships in the industry

One of our first partner is Unilend Finance, which is one of the fastest growing lending protocol in space

D. | Satoshi Club: yep, nice guys

Ishan Garg: and lending protcol/farm that generates a future yield is a potential partner for Unreal Finance. One of the first criteria we are going to look at is the TVL of the protocol as higher the TVL more robust the protcol is

done

D. | Satoshi Club: are you looking for partners only on Ethereum blockchain? or you are ready working with people from BSC etc?

Ishan Garg: currently it’s of ETH blockchain, once we launch on BSC we will start partenring with BSC based projects

D. | Satoshi Club: [ 👍 Sticker ]

great! i hope you will find lots of good projects and cool partnerships 👍😉

Ishan Garg: Thank you 🙂

Part 2 — live questions from the Telegram community

Q1 from telegram username @Derazy

Is there any minimum or maximum deposit at Unreal Finance Platform to generate UOS and UToken?

Ishan Garg: while there is no min deposit – it would be advisable in the iniital launch to put in a big amount on to offset the gas fee until our L2, and BSC chain go live

Q2 from telegram username @topind7

Is it true that the protocol will be governed by token holders through proposals, why is this so? And why also go with the name Unreal?

Ishan Garg: so Unreal is a short form of – Unrealised Yield

and we wanted to also play with words – like once we get the interest rate upfront we can say – “mate, the profits are unreal” haha

community can always help in doing what’s the best for the project

as we have seen with this amazing community 🙂

Q3 from telegram username @crypto9690

What is the development phase of unreal now.Many new projects make a good impression at the beginning, but are suddenly responded to. How will you manage your project to gain a place in the market and become the best token in the blockchain world, Can you explain to us? #unreal# AMA #community @ishangarg

Ishan Garg: we are working on releasing the public beta and will update you more on this soon. One of the strategies which we will be employing will be of partnerships as more partners we have the more bigger unreal finance will become

Q4 from telegram username @sumione

What does your project aims to solve the problem in real life of blockchain? In other word also why DEFI needs Unreal Finance?

Ishan Garg: the biggest problem of decentralized lending is that the interest rate isn’t fixed

Q5 from telegram username @Tony2523210

Unreal platform allows user to receive profit by using margin trading, but have you considered integrate more types of Derivates Markets ? Like futures or perpetual ?

Ishan Garg: they can be integrated of course, and we would welcome the community to build new financial products on top of Unreal’s future yield tokens

Q6 from telegram username @Eminet001

How can users be part of the success of this project, are we allowed in any governance activities like voting ?

Ishan Garg: yes, holding $UGT will give you the right to vote and govern the protocol. Oh and also earn passive income 🙂

Q7 from telegram username @budykarebet

What are Unreal top priorities in 2021? Can you share some of your plans for the coming year? Which part of the project are you focusing on most now?

Ishan Garg: our current priority is make the public beta live so our community can test and play around with Unreal Finance. Our 2021 priority is make the platform live, while also integrate with more lending/farming protocols

Q8 from telegram username @Alberto_vzla

One of the strengths of Unreal Finance is its ability to create new products through unreal finance. What concept does Unreal Finance handle of unreal finance and how are these products created from this concept?

Ishan Garg: one of the biggest strength of Unreal Finance is that the tokens generated are compatible with the existing defi infrastructure. This allows the future yield tokens be used in a varietly of applications such as interest rate maximisation, liquidity maximsation, yield insurance etc

Q9 from telegram username @dainairlangga

Token burn is important for investors, do you have any plan burn or buy back?

Ishan Garg: we haven’t finalized this yet, we will release more information regarding this in the future

Q10 from telegram username @Josuchams

How can the community help UNREAL grow? Do you have a page where we can help, liking, reposting, and commenting?

Ishan Garg: yes, we wil be launching this shortly, do stay tuned on our official group 🙂