LBank AMA Recap with MVD
On 13 April we held an AMA with the MVD, hosted on LBank official telegram channel. If you missed this telegram session, here’s another chance to get a full transcript of the AMA event.
Host
So I have a first question from our user. They will like you to reveal your amazing team that you have behind you and the genius behind the project who is the main founder. And what is the idea of the project?
Arthur
So let’s start at the beginning. So Metavault started out of conversation that steve and I had over the years. And we always think about what’s the next play, what’s a good defi structure, what’s a good coin to invest in? So seems like we’re doing these a lot. We talked daily for a long time before we even started developing anything. The idea that basically crystallized itself is build something that brings great benefit to crypto users and don’t stop there. Right?
Now, we are looking to, you always wanted to build something like gmx if you know it, it’s a perpetual trading decks. And we always thought it would be great. Can, yeah, build something like they did. And steve was an early investor and participant. So for him, he analyzed everything. He went into every detail. And so that’s how everything started without development. So then we hired the first developers and started building a team and everybody is motivated. We started with our Metavault Dao which is on the market right now trading MVD that’s the token.From there, we build everything. And then we have a big team.
Now, we have a great experience developed team. And they come from Google, Apple, Sushi. We have six industry veterans. That’s like Steve some other colleagues that work on strategy, business development, economics, all of these things. What brings us together basically, is the mutual vision of building something in the web 2 space. We just started building our first platform, and we’re not gonna stop there.
Host
As I see, you guys have a lot of experience in economic and everything that we need for the new generation of web3.0. And I can say that your team is great and it’s important. You have the experience behind any project and anything we do in the life. But I still wanna ask Steve, if he has anything to add on this answer, if he wants。
Steve:
the team is built well, we have good structures, internally.
internal audit systems. We are analyzing deep into the market, looking for weaknesses or opportunities to join or to maybe improve this. We want to increase the rally of defi and let people participate. The actual problem is that most projects acting like be accepting for more people jumped in and they cash out on them.
We don’t want this and we are avoiding this with some market making strategies or with not rushing too fast into the market. Because there are a lot of front running in the market. And we want avoid this that we have a sustainable growth.
The team is not motivated on the money side. They want to build something new because the developer from us, they are well funded. And a lot of experience and developer, which are veterans, they have no approach to rock the market. So we want to build something which has sustainable.
Host
It’s important to have motivation for the revolution of everything, like changing some new things and implementing in the industry. I hope that answer could make our users know more about the team, it is important to have a great community behind it.
So as I can go with the question 2 is, what is your strongest advantage that you think will make you leading the market?
Steve
The first thing, what I can say is the motivation of the team. That’s the most important thing, because when we are hiring or adding people to the team, we will tell them, what is our vision. If they are not okay with this vision, they are not allowed to join us. We only looking for highly skilled developers which have a long experience and want to be part of this. We have a number of top Ctos on our top team. They come from large companies and have experience in team management, project management and so on, which makes us very professional.
Our team can analyze, develop, and deploy smart contracts faster than most other projects. Because we have a large team that is well managed and can do more.
One of the people on our team is an artist who is good at analyzing and identifying weaknesses and good protocols to improve them and leverage them for the benefit of our own community. That’s all I can say.
Host
So that’s the summary, I think we could talk for hours, I think you have a lot to say about your great project. Can you add something to the answer?
Arthur
It summed up well in the end. I think what’s really different for us is the backend and the big software, which is services.
We combine this with a deeper knowledge of trends. So we now have a team that can basically build on any blockchain on the market. We made sure we were structurally ahead of the game. We can develop multiple platforms and projects simultaneously. That’s what we set up.
Host
Like Steve said, you’ve done a lot of work on this project. It’s the most important thing for everyone. I want to ask you a few questions, like, how would you describe your community?
Arthur
Our community is a mix of any community, right? We might have someone more experienced with Defi.
For example, platforms are not easy for everyone to understand. We are working hard to achieve this goal. We’ve been working hard to improve our documentation and in our article give a very good insight into why this is special and what it means for you as a user.
And I think the main main factor is that we are DAO. That’s the goal, right? We want separation of powers and the functioning of democracy. The community is at the center of everything, and the decisions it makes affect our future and the direction we go in. As a leader. We have ideas. We’ll make suggestions. That’s how constant time works. The team makes suggestions, the holders vote, and they make a choice, and they get rewarded for it. So DAO is very important to us. They should benefit from it. Also. We plan to implement the framework within 28 days. Every 28 days, we basically vote on how to manage revenue streams, how to manage expenses. So DAO has a long future because, as Steve said earlier, the capital market will only better benefit the very few whales in the market. To change that, we must ensure that these structures are democratic and that the rewards are distributed fairly. That’s our goal.
Host
That is great that you have a very great community with a lot of experience. And that this interesting in DAO as we actually talked about community, like the DAO and the concept is in general, is there anything new in Metavault DAO? What benefits can community get?
Steve
I can explain it this way, we want to implement an immutable system.
Another benefit is that government recipients will receive stable current rewards. A portion of the exchequer’s revenue will be distributed only to those who actively participate in governance. This means that a person who votes or bets on tokens for this governance proposal will receive a stable monetary reward from the outside, which is 20% of the total proceeds, which will be allocated to this staking contract.
Host
We can see there is a lot of rewards for the users who are very involved in in in the project. But how would you say about the security in the speed? What is the most important factor there? What for your own project?
Steve
First of all, we must block this flashboards or the sandwich pots in the training. They are harming the pools and traders themselves, which wants to join to the Metavault.
The second is our internal audit structure and standard procedures, and every developer has to sign off on his weekly tests and controls for the environment. With DAO implemented, they generally no longer pose any risk to the community. Some of the developers will do bad things to the committee because all decisions are made on the chain. And strict control of the environment can only be exercised through voting. Under the highest security standards, developers need to use different equipment for education, development, and deployment. The environment is a double benefit of total autonomy and isolation.
Host
The next question is, who are your business partners? Can you name some new partners that have helped your project? Will there be any collaborations in the near future? If you want to talk about it?
Arthur
We just started, I think, Metavault is growing. Token prices are on a very good trajectory. We’re getting more and more users on board, more and more stakeholders on board, and they understand what differentiates us from other platforms. But in general, when it comes to partnerships, I don’t think we can give all the details yet because everything is still in progress.
But we’ve made a lot of progress based on two major ecosystems, as well as multiple established, centralized exchanges and decentralized exchanges. Finally, we have been able to conduct transactions in LBank. It’s also a good position for us. But when it comes to partners, I have a lot of work to do. I’d love to tell you this, but it’s too soon. I’m sorry.
Arthur
we have to keep it confidential for now. But if people join our channels and subscribe to our twitter and join our telegram group, they will be the first to find out.
Arthur
it’s good things coming. It’s very positive developments coming soon. So that’s all I can end.
Host
Okay, that’s a good, that’s we can say the bright future in front of us。
Arthur
Thank you very much. I think we’re kind of in a bear market. It is too early to disclose these partnerships. Because in cryptography, partnerships are not announced by the other party. This is normal common sense in the crypto world, where partnerships are only disclosed when partners drop out.
Host
As we come, basically, to the end, I have a very important question here is why people will buy the token and how they will be attracted to the project？
Steve
I can explain this in a short. The other one is Metavault. Dao. token and biggie will be the mothership. Whole ecosystem we are building free applications.Actually, one will be options, but from so on a nearly to be finished in the test phase. Metavault rate is nearly to launch on polygon. Two other sufferers are actually started building one is a sauce like the service as software . That will all benefit completely the DAO ecosystem itself. That means the holding structure of Metavault, the mothership, the holding company. and the subsidiaries will be the dotted companies. That means all incomes from this platform will benefit totally to the treasury of Metavault. And this will be distributed fully to the community or to the token stickers.
Host
I hope that attract a lot of users to go. And Mr Arthur, do you have anything yet?
Arthur
If you think about this like what we what be discovered in the market and we are traders.
We look for opportunities and what we see more and more and it’s nothing new, right? There’s a certain size of either individual trader or fund that just can easily outperform the rest of the market. And they can use tactics and techniques that give them an edge, right? That give them a benefit against normal retail users. So what we offer to people is build a DAO and become that whale yourself, right? Join that and benefit in the same way like the big boys do in the sorts. Right? So we know the techniques of making that happen and disregard disregarding from all of these. So things that can also be used in a positive manner. Clean up, you can do you spend it parts and drain sandwich spots these kind of things. And in addition to that, I think it’s really like what Steve does that said this is so important to know that there is a software company in china right now, meta desk that will just do software as a service.
And this income stream we will on ramp. This in income stream will go back into the DAO, which is like an experiment of sorts, right? We want to see how this goes, how we can mix the old economy with the new economy and just really showcase that a crypto platform and a project can run on sustainable revenues. And you can still have high yields and benefits over old world’s investment structures. But you can combine the two words, too. So I think that’s very important for people to understand.
Host
So I have a first question i can see in the chat is Mattis. He ask you, guys, are you locally based? Or what is the future pension that you have in mind? Are you based in one place or you are everywhere in the world.
Arthur
a little bit of both. So we have it in in Europe. We have a team in china. We have individual senior deaths who work remote.
Host
So you guys are expanding, and you’re not only locally based in us or anywhere in other worlds. So you are basically everywhere, as we can say.
Arthur
That we have our hope. So I think the software company in china, for example, that’s a hub, right? There’s an office. But everybody else basically, I with covert and all it doesn’t really make sense anymore to run in office, capital companies have done this for a while now before it was cool, so to speak, as long as you have the right leaders and the right systems, I don’t think it’s a disadvantage to work remotely and great results are being published. So it’s a little bit of both to answer your question.
Steve
To add to this question. The team know each other personally that means nobody is anonymous inside the team. We do our due diligence before on boarding any team members. We are hiring actually more developers in china to develop more indoor sea specific tailored software solutions which will be benefited to DAO itself. The other one is for increasing the value of the DAO and the long term relations. And many projects say they want to last long, but we can promise and say for sure that we have a long pipeline and the long road map, and we are very motivated to done this. Our motivation is not only to get money. we don’t meet this because we are well funded as developer team. We are long in the crypto space that we can say we won’t change something, because we have self camped from many projects. And we want changes because together, the committee is stronger how to explain this in the details when we won’t build something, we want this as motivation and to be a big community that can grow even more than other communities can do, because we don’t want to stop after we reach some goals.
We are hungry to build more and more to increase the value of the ecosystem. We believe in this DAO, because it’s a great opportunity for the whole developers, for the community that will benefit both sides.
Audience
My question is that apart from staking, what other things can I do on your platform. Is there any other thing I can do? That is my question. Thank you.
Arthur
So at the moment for you can stake your MVD on me. You can wrap them as well to get ready for staking. In the end because it’s a DAO, what’s most important is governance voting.
This mother ship is important to make all the decisions, for all the other things we want to do. The main purpose is for users, what you actually do is you stake and you participate in the voting. It gets a bit more interesting in the next ventures. So like I mentioned before, we are launching the decentralized perpetual exchange and swap platform. There you can trade, you can do up to 30 x level trade. So you can have very, very low slippage and like a lot of improvements over other decentralized platforms. At the same time, there you can stake and can be a liquidity provider. We built more and more of use cases for users, but to understand this clearly, DAO is that’s our command center.
You’re there to basically help us with the decision making heaven influence and participate and the strategies and products we bring forward.
Host
Thank you for that question. We will go to another one.
Audience
My question so far is very limited and those in parameters to cover everything, can we have a white paper on these very beautiful projects?
Arthur
So we don’t have a white paper right now, but we have a full documentation. So if you go ours website, you’ll find out get book and everything is described in detail. But we are working on more documentation and more reading material.
Steve
I realize another of limited, sorry, the documentation is only not limited to technical documentation. There are visions, the team and the road map is clearly described.
Ricky
Hello. I’m not visit this crypto currency of it. Is there any of the details can give to us to trainers on the project? Because I don’t even know anything.
Arthur
You hear me, as mentioned before, we spent quite a lot of time on the documentation so that it’s very clear, but we also have a medium bloc, not a lot of our articles in there, if the moderators allow, we would link to these in the chat.
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