LBank AMA Recap with KALATA

10 min readOct 14, 2021

Introduction:

GUEST:

Stella Kalata.io(I will never PM first):

Hello, everyone. I’m Stella Wong, the CMO for Kalata. I’m very glad to be given the opportunity to be here with you all and introduce Kalata. I hope you will find my stream informative and helpful.

First five AMA Questions (First Part):

QUESTION 1:

Could you briefly introduce Kalata?

GUEST:

The Kalata Protocol (KALA) is a synthetic asset protocol. The Kalata synthetic protocol allows everyone to mint synthetic asset tokens by locking in collateral. This enables users to gain the equity of assets without obtaining them. Currently Kalata uses BUSD to mint synthetic asset tokens, and will support more stablecoins in the future. Through the AMM mechanism deployed in the decentralized exchange, transactions of synthetic asset tokens can be automatically executed without matching buy & sell orders. Providers of synthetic asset trading liquidity can then earn transaction fees paid by traders. This is a brief introduction to the operation mechanism of Kalata. For those who are interested in more detail, please visit our oﬃcial website to download the white paper.

QUESTION 2:

Can you tell us something about the KALA token please?

GUEST:

The Kalata Protocol token is named KALA. KALA is based on the BEP-20 standard with a total issuance of 200 million. 10% of the total KALA is retained by the foundation, 45% is used to motivate users to participate in synthetic asset minting, 20% is used for private selling, and 15% will be distributed to the founding team and early stage investors.

Note that the total amount of KALA tokens after the IDO will be 120 million, with an initial circulation of 15 million. Assuming the token price of $0.25 USD at IDO, the initial market cap will be $3.75 million USD accordingly. There is deﬁnitely room for improvement in terms of valuation, compared with other synthetic asset projects.

In Kalata Exchange transactions, a 0.03% fee is charged per transaction and the fee enters the staking pool and serves as a reward for the mortgagor. The mortgagor will expect to receive the KALA reward once a week, this is derived from the income of the Kalata system. Users who conduct derivatives transactions can also earn rewards of KALA tokens based on the proportion of the transaction amount to the total transaction volume.

QUESTION 3:

How did you come up with the idea to create the Kalata project?

GUEST:

Let’s bring up some background: ever since the founding of the New York Stock Exchange in 1817, the global security market has had a history of over 200 years. Today, the global securities and ﬁnancial markets are highly matured institutionalised and oligarchic. It is not rare that people can sometimes face injustice in the ﬁnancial and trading world.

After the core contributors of the team came into contact with DeFi and spent a long time prudently studying and researching, and bringing in their past investment experience, they realized that DeFi and synthetic assets will play an important part in the future of the ﬁnancial sector.

The Kalata team all think that DeFi is a topic with a very high learning threshold and too many terms that are obscure and diﬃcult to understand. And the crypto market is a market of high volatility. Our original idea when we created the Kalata Protocol Dapp was to create a simple and easy way for new users to enter the crypto market.

The Kalata Protocol is a carrier of intrinsic value regardless of all the twists and turns in the future crypto area. Kalata will be a credible and reliable partner of our users through the bull and bear markets of the future.

QUESTION 4:

Why did you decide to migrate/build on the Binance Smart Chain?

And What do you hope to see next from the BSC community?

GUEST:

At present, Ethereum is currently facing extremely high gas fees and congestion. Thus the vigrance shown in the Binance Smart Chain community is inevitable. We sincerely hope that the Binance Smart Chain community will continue to work hard.

BSC’s high public chain performance and low gas fee provide a solid foundation for Kalata Protocol. At the same time, the high TVL of BSC will make the Kalata Protocol even more powerful, making Kalata one step closer to its mission and vision.

We have also seen that there are many excellent DeFi projects and teams in the BSC ecosystem. Kalata Protocol is very much looking forward to cooperating and communicating with them to promote the advancement of BSC and DeFi ecology together.

We hope to actively participate in the Kalata community. Kalata Protocol provides seamless compatible support and silky-smooth experience for BNB, BUSD and Binance Chain Wallet. BSC community users will experience incomparable friendliness and respect when using Kalata Protocol products.

We hope to learn innovative ideas, unique insights on DeFi from the BSC community. We also welcome all resources, cooperation and support from the BSC community.

Kalata Protocol sees highly of projects that boldly try new ideas. Based on the principle of active learning, Kalata hopes to communicate with all projects in the BSC community to explore the inﬁnite possibilities in the future of the DeFi world.

QUESTION 5:

Why did you choose Synthetic assets as the track?

GUEST:

As we know, After DeFi, NFTs (Non Fungible Tokens) are poised for explosive growth in 2021. In fact, the rapid mainstream acceptance of these new tokens are due to their ability to integrate well with real-world items (e.g. trading cards, artwork, digital content, etc.).

However, apart from NFTs, there is another form of asset in the cryptocurrency world that can perfectly interact with the real world and which enables everything to be tokenized: synthetic assets. In short, synthetic assets are a bridge between the real world and the crypto world. They are a simulation of an asset (cryptocurrency, stock, gold, commodity, derivative, etc.) onchain, representing a financial instrument made of one or more combinations of assets/derivatives. They are designed to meet the investment needs of investors who are unable or unwilling to hold the initial assets.

From the DeFi boom in 2019–2020 to the NFT popularity of 2020–2021, the market seems to be looking for the catalyst that will trigger the next round of market growth. Many industry insiders, including Changpeng Zhao, founder of Binance, are very bullish on synthetic assets and believe that synthetic assets are likely the “spark plug” to start this engine.

Synthetix, which began with the emergence of Synthetix in 2019 and has grown exponentially in the decentralized financial space over the last two years, is now a key component of the ‘DeFi movement’ , according to The Block data, Synthetix lockups reached $4.63 billion on February 12, 2021.

The data does not lie, there is no doubt that the market enthusiasm for synthetic assets is heating up, if we go back to 2019, when the DeFi lockup was only $2 million, but in just two years, this rose to above $65 billion. The current synthetic asset lockup is about $3–4 billion. If this follows the trajectory of the DeFi explosion, the scale of synthetic assets issued through the blockchain in the future will probably exceed a trillion dollars.

We strongly believe that the choice of synthetic assets is very promising at this stage and our aim is to build Kalata’s market position as a leading derivatives trading platform.

QUESTION 6:

What are the main advantages of the Kalata Protocol for the user, compared to a similar project from a mainstream ﬁnancial market?

GUEST:

1. Efficient Economic Model:

Kalata has a somewhat similar business model to Synthetix and Mirror Protocol in that they both convert traditional financial products into a digital currency, allowing users to gain investment exposure without actually holding the traditional financial products. Kalata is able to support a much larger number of synthetic financial products, with the support of BSC.

As we know, BSC has a clear advantage of low fees and high throughput compared to Ether, which means that Kalata users will have much easier access to high-yield synthetic asset transactions and a smoother user experience than Synthetix and UMA synthetic asset protocols that are still deployed on the Ether blockchain today, product performance will also be better.

In addition, by being based on BSC, Kalata is able to generate synthetic assets through BUSD. In the future, it will provide users with unlimited deep trading services without slippage and counterparties based on the debt pool model, which is also an advantage of BSC which empowers Kalata on the asset side. Kalata has designed an efficient economic model based on the KALA token.

2. Integration of Chainlink Price Feeds to Power Synthetic Asset Trading

Kalata has deployed Chainlink Price Feeds on Binance Smart Chain (BSC) as the default oracle solution for all markets on our synthetic asset trading protocol. With the high-quality, tamper-proof data brought on-chain by Chainlink’s decentralized oracles, Kalata Protocol can accurately price in real-time various synthetic assets like cryptocurrencies, stocks, commodities, derivatives, and virtually any asset in the future that our ecosystem demands.

Integrating Chainlink’s time-tested oracles will strengthen the precision and robustness of Kalata’s synthetic asset trading platform, marking a major milestone towards our goal of making DeFi trading available to everyone and getting us closer to achieving one of our core missions — executing every trade with real-time price feeds.

3. US stock market — one of the most common application scenarios

As we know, the US stock market is indeed one of the most common application scenarios for synthetic assets right now, Kalata Protocol (KALA) is a synthetic asset protocol. The ﬁrst version of Kalata can realize a 1:1 peg to the stock price, allowing users from the traditional ﬁnance world to learn DeFi at a lower cost. There is no need for complicated processes.

Users will only need to connect their decentralized wallet to the Kalata DApp and then they can trade global mainstream asset like Tsla.US, BIDU.US, Coin.US, the Dow Jones, ARKK (ARK Innovation ETF), SPCE.US (Virgin Galactic Holdings Inc), PACB.US (Paciﬁc Biosciences of California), etc. This is a very thrilling innovation. In addition, the early and long-term supporters of Kalata Protocol come from mainstream ﬁnancial subdivisions such as trusts, banking, and securities. They have professional experience and attainments in traditional ﬁnancial ﬁelds. The long-term supporters of the Kalata Protocol will inﬂuence and inspire more traditional ﬁnancial users to join. We have the confidence and ability to compete with these programs.

QUESTION 7:

Would you like to share with us something about Kalata’s latest progress?

GUEST:

We undertook the Private Sale of $KALA from July 23rd to the 30th this year. Our IDO followed on August 7th. In both cases they were fully subscribed which shows great enthusiasm for the Katala project.

Prior to the launch of the Kalata app we completed security audits conducted by Certik and Trustlook. We did this because we are acutely aware of the importance of security in our ecosystem. We also released our open source code on GitHub prior to the launch of the Kalata app.

Our app launch which was much anticipated by the community, occurred on August 16th this year. Our dapp V1.0 launched with KALA, kCOIN trading functions available. Single KALA and single BUSD staking functions are both available now. Now KalaSwap supports multiple currencies, you can swap BNB BTCB ETH USDT USDC and CAKE on the platform. The KALA-BUSD mining function is also available. We launched our Genesis Mining campaign which rewarded our users with a mining APR of up to 2,200%. Our current KALA-BUSD LP pool has a steady APR of around 200% now. Recently we openedClick here to download for iOS or Android

Website: https://lbank.info
Twitter: https://twitter.com/LBank_Exchange
Facebook: https://www.facebook.com/LBank.info/
YouTube: https://www.youtube.com/c/LBankExchange
Telegram: https://t.me/LBank_en
LinkedIn: https://www.linkedin.com/company/lbank
Medium: https://medium.com/LBank
Reddit: https://www.reddit.com/r/LBank2021/: kCoin-kUSD、kCOIN-BUSD、CAKE-kUSD and BNB-kUSD liquidity pools. Please visit app.kalata.io for more details. We’re testing DAPP V1.2 and adding the NFT module now.

We’ve made significant progress with making the Kalata app accessible on multiple wallets. Currently, the app is accessible on MathWallet, Token Pocket Wallet, Trust Wallet, Coin98 Wallet and more. We also opened yield farms and snack pools on BabySwap on August 31st. We also reached a partnership with AIpaca Finance which is the 1st leverage yield farming protocol on BSC. We also reached a partnership with Mars、Wizard、AutoShark、CafeSwap、BakerySwap、Mars、MDEX etc.

We carried out several giveaway activities targeting the community members with our partners; CoinMarketCap, ONTO Wallet, and MathWallet. Kalata has a very solid user base and following which continues to grow. We now have over 60,000 members in our Telegram and our Twitter account has over 120,000 followers. Trading volumes on the Kalata app continue to grow and over 12,000 addresses hold $KALA tokens now.

QUESTION 8:

8. Finally, what can we expect from Kalata over the next few years?

GUEST:

Kalata is committed to building a next-generation synthetic asset trading platform with cross-chain capabilities. We have already started development on other emerging public blockchains.

We remain committed to achieving everything we have detailed in our roadmap and much more.

We know it’s going to be a long journey that requires dedication and consistent effort. We are absolutely committed to achieving success, so everyone can keep dreaming big with us.

Selected five Questions with Answers from the Telegram community (Second Part):

@faruk57618

QUESTION 1:

Will your project support nft in the future or if already support. Can I send one? @fortune2021

GUEST:

Yes, we’re testing DAPP V1.2 and adding the NFT module now. Stay tuned.

@Pravin456286

QUESTION 2:

Where can I buy your token? Can you share a link to the whitepaper and roadmap for more information?

GUEST:

Now you can buy from our Dapp: app.kalata.io.

You can also buy from BabySwap/BiSwap/Pancake etc.. And you can also buy it from LBank from tomorrow.

Roadmap: https://docs.kalata.io/roadmap

Whitepaper: https://kalata.io/media/kalata-1.0.pdf

Click here to download for iOS or Android

LBank AMA Recap with KALATA

Written by LBank Listings&Projects

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