AMA With DeHive|| Apr-8–2021
Sergey Onyshchenko- CEO of Dehive & Pasha Bergman- CBDO of Dehive have taken AMA in Crypto Avengers TG Channel and helped to know about Dehive in detail. you can check full session details below.
Crypto Avengers: Hi @Sergey_InC & @pasha_bergman , Welcome to CryptoAvengers Community , how are you doing ?
Sergey: HI, nice to meet you all
Pasha: Hello 👋
Thank you for invitation! We are glad to be here with Crypto Avengers community and share how we inspired with our upcoming project.
How are you?
Crypto Avengers: nice welcome guys let’s start our AMA session without any delay . lets start with asking you to introduce yourselves, your role and your background ? and how you discovered crypto?
Sergey: My name is Sergey Onyshchenko and I am a founder and CEO of DeHive — DeFi protocol. I am a current CEO and Co-founder of Blaize — blockchain dev company. I am in crypto since 2016.
Crypto Avengers: Nice what is Dehive? can you explain Dehive in layman terms?
Sergey: DeHive is Blaize in-house project. The idea of developing our own in-house project has been crossing my mind for a while. So when we have gathered the right knowledge of the market, I think we are ready to deliver smth the community can benefit from.
The main idea behind DeHive is to provide an economically sound and justified index of the top DeFi assets. Thus, the user will be able to get the picture of DeFi sector development and assess the market health in general. In addition, in contrast to the centralized market tools, in DeHive users will benefit from liquidity mining and yield farming and get an additional profit.
Crypto Avengers: so dehive is an defi indexing protocol ?
Pasha: Yes. To make long story short, DeHive is a tool for users to use and stake indexes of crypto market, and of course DeFi indexes.
Crypto Avengers: cool, how does the Dehive Platform work? i read “DeHive protocol gives you an opportunity to wrap your funds into a single crypto-hive full of top DeFi crypto assets. Let the protocol bring you the honey of yield farming and passive income” can you guys explain how does this platform work?
Sergey: nice question.
in the rough explanation the DeHive mechanism of index issuing will looks as follows:
the user will make an initial contribution in ETH
the system accepts and calculates how many indexes he will get. This process is driven by the set of in-built decentralized oracles that checks for the actual prices of tokens that are included in the chosen index.
Then, the algorithm recalculates the weights of the underlying's and issues index(or indexes) in the corresponding amount.
The algorithm redeems the underlying's and stores them on the platform assigned to the user.
Crypto Avengers: awesome you mentioned decentralized oracles are you guys using 3rd party oracle to query data?
Pasha: Yes, we will be using Uniswap oracles to get the price for collaterals and DHV. It is necessary for redemption and staking/unstaking Index token for Yield farming
Crypto Avengers: can you talk about team behind Dehive? what’s the team size and how many developers are involved?
Sergey: Together with my fellows, we set up our blockchain development company Blaize in 2016. Now we are more than 5 years on the market, delivering solutions for such partners as Akropolis, Yield App, Zokyo, Solana, Celo, Breaker and many more.
We have 35+ developers in our team, including devops, QA, solidity and rust specialists al well as our own in-house team of auditors
Crypto Avengers: Fantastic background guys! my next question is Do you have competitors building something similar to Dehive?
Sergey: hmmm nice question, as far as what DeHive strives to deliver is fully decentralized crypto index — there is no similar solution, so no direct competitors here. Yet, there are a few projects that acts in the similar market area like power pool or SciFi — they are indirect competitors of DeHive. We have described the difference between our projects in this article https://medium.com/dehive/why-powerpool-is-not-an-index-a83aa8dae3c5
Crypto Avengers: Cool thanks for the medium article mate.
my next question , can you talk about What’s the current status of the Dehive project ? any upcoming major milestones ?
Sergey: we are working actively on the mvp version of the platform where the index issuing, index redemption are enabled, and yield farming is also on the top list. The private demos will be available in a few weeks. The first major milestone is targeted on the end of June which will be already tested and adopted for users.
Crypto Avengers: my next question is can you please talk about partners, investors and advisors of Dehive ?
Pasha: Our favorite partner and investor that bring DeHive tons of value is Phoenix VC with no doubts ❤️
We highly appreciate support and wish to go shoulder to shoulder in a long run
Sergey: sure! First of all, we want to share our gratitude to all investors and DHV early adopters who have shown confidence in our project so far. The trust and support we receive is highly appreciated.
There is a post we have shared recently featuring all of them https://medium.com/dehive/see-the-power-of-dehive-main-investors-backers-6a6a8f215ce1
Crypto Avengers: so the token symbol is $DHV can you talk about Dehive token and it’s utilities?
Sergey: yes, you are right, DHV is DeHive platform native token. The total supply is 10M, DHV is needed for custom index issuing, taking part in DAO, index redemption and additional protocol features. You can check more in our tokenomics here https://medium.com/dehive/dhv-vs-dehive-index-dehive-tokenomics-preliminary-architecture-4c3eedb2ad50
Crypto Avengers: my next question is most anticipated one i know public sale will be on 14th When is the Listing ? any IDO plans?
Sergey: nice question! yes, the public sale is on 14th, it will take place on our website dehive.finance. And if I may use my time here, I want to warn you before scams, and fake groups that are crossing telegram and naming theirself as DeHive. @DeHive_chat is the only official chat, please check the updates about IDO and public sale only there 🐝
Pasha: We will host both IDO and IEO after April 20. We will announce platforms after public sale.
TGE & Uniswap listing will happen at the same day of IDO & IEO.
Crypto Avengers:
Thank you guys!
we are going to open the floor for community to ask questions, @Sergey_InC & @pasha_bergman you can ignore irrelevant questions from community and answer what you want to answer.
Crypto Avengers Community: How do you plan to promote about your project in different countries? where English is not spoken very well. Do you have a local community so they can understand your project?
Sergey: hi, nice question. Yes, we are aware that there are many markets where crypto is performing very well, but they are not english natives, like Asian markets. Turkey and Vietnam markets are also going dive into crypto right now. We have made a strategic partnerships with a few very influential funds to reach out to those communities and go global.
Crypto Avengers Community: Eth gas fee is crazy high. So, do you have any plan to move on other Blockchain such as BSC or other L2 solution?
Sergey: Ethereum is a good start point in order to achieve maximum adoption and volume at the beginning.
In terms of gas fees, yeap they are high. Yet, as I said before, we know how to build blockchains and have dealt with a number of DeFis projects so gas fee optimization is achievable goal for us. For instance you can use fixed-size arrays and recommend pooled operation instead of a row of consistent ones. We often use those practices for our clients in Blaize, which helps alot, believe me. Yet we are planning to go cross-chain with BSC and Polkadot integration as prior
Crypto Avengers Community: What are the competitive advantages of your project? What advantages do you have that other competitors? What would be your project secure most similar contender in the market today in terms of scalability, security, features, and adaptability?
Pasha: If we will take a look on other index projects we could admit that their product is index itself as a token.
Our core goal is to provide a tool for users to interact with crypto market in easiest and most effective way.
We name DeHive as a tool, since we will issue only a few indexes initially.
Most of the indexes will be issued by the users who will submit proposals to DAO. Other users will vote to list index or not with DHV.
After all, index issuers will receive percentage of staking APY of his index from other users who will stake it.
Crypto Avengers Community: Is this project a Global project ?
Can local communities partake in it ?
Pasha: It’s global project in terms of territories. We are seeking for local partners and community managers.
Right now we are focusing on, as Vitaliy Buterin said, “people who knows what is Bitcoin”.
Our goal is to provide effective and user friendly tools for diversifying a portfolio and yield farming in order to interact with enormous amount of crypto assets.
Global adoption is admirable but not achievable in short term and requires work of whole existing crypto community.
Crypto Avengers Community: Q:Do you have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to invest?
Sergey: We have fixed 10 mln supply of DHV tokens, we will not mint anymore or burn any. This decision is driven by the health economy practices. The utility of DHV flows from its using in the different actions within the platform, so we incentivize to lock more tokens (to extract them from circulation) for having more profits from yield farming, and involve users to DeHive platform governance.
Crypto Avengers Community: You guys are doing Ama’s in many groups & almost answering same types of questions again and again? How do You feel about it???
Sergey: ahaah nice one! Look, this can seems like that, right, but we strive to reach to the larger audience and understand that all people cannot be in the same AMAs. That the reason we conduct many of them 😄 Also, when community sends us their questions we can see their concerns and uncertainities, so we can find the place where we should strengthen our strategy. So receiving your questions is highly appreciated !
Crypto Avengers Community: Any measures have been done to ensure the safety of the dehive platform? Like insurance or audits?
Sergey: Security is the top priority for DeFi project and DeHive is not an exclusion. As you know already, DeHive is build by Blaize team of blockchain devs that runs its own in-house team of auditors. Yet, nothing can be perfect enough, that is why we partnered with Zokyo in terms of DeHive platform audit and attack prevention. Zokyo is a top-tier US-based auditors team, so we can be sure our safety is in the right hands
Crypto Avengers : thanks @Sergey_InC Is there any thing you want to add before we close this AMA?
Sergey: I what to share the great thanks to you and CryptoAvengers community for showing so much interest in DeHive so far and hope we have clarified a lot of uncertain questions here.
Crypto Avengers :
Let’s Wrap it, Thanks everyone! Please support Dehive Guys!!
Thank you @Sergey_InC & @pasha_bergman for your wonderful time with us!! we learnt more about Dehive from you today.
Guys follow below channels for more updates!
⭐️Dehive Social Links:
Website: http://dehive.finance/
Twitter: https://twitter.com/unoreinsure
Telegram Channel: https://t.me/DeHive_chat
⭐️CryptoAvengers Channel Links:
Discussion Channel: https://t.me/ImCryptoAvenger
Announcement Channel: https://t.me/HiCryptoAvengers
