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 ShuttleOne and our guest was Zhuang?—?@zhuangg535. The AMA took place on 19 February.
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&WebSite
Andres M. | Satoshi Club:
Hello community, today we are pleased to announce our AMA with Shuttle one, our honorable guest is @ zhuangg535, welcome
Gold Rocket | Satoshi Club:
Welcome to Satoshi Club @zhuangg535
Zhuang:
Hello!! Thanks for having me again!!
Andres M. | Satoshi Club:
How is going your week?
Gold Rocket | Satoshi Club:
We are very glad to see you again
Zhuang:
Haha, this week has been hectic… We launched a new UIUX and we are preparing for IDO on the 22.2, special number!
In anticipation of our IDO on the 22nd of Feb, ShuttleOne decided to launch a brand new look!
check out the brand new SpacePods!
http://www.shuttleone.io/mainnet)https://twitter.com/shuttle_one/status/1362635660109094912?s=20 Cleaner, sharper.
Andres M. | Satoshi Club:
Haha a big week for Shuttle one, we are happy to have good news.
Zhuang:
More and more good news coming, but again, a pleasure to be here again.
Andres M. | Satoshi Club:
Congratulations.
Gold Rocket | Satoshi Club:
First, remind us a little about yourself and about Shuttle one, please
Zhuang:
For starters, I am Zhuang, I am the founder and CEO at ShuttleOne. Personally, I am an ex-investment banker dealing in structured products and quantitative finance before I became an entrepreneur in the agriculture industry. Yes, I became a farmer. You folks can read more about my story here: https://www.asiaone.com/betting-farm-1 After successfully exiting from the farming business sometime in 2017, I began to transit to be involved in the crypto space by way of mining Ethereum. It was funny as I read about bitcoin in 2011 and I thought at that time I was late, nonetheless I got started in mining eth and built one of Singapore’s largest mining facilities.
More of the story here: https://www.straitstimes.com/business/companies-markets/from-farming-veggies-to-mining-digital-currencies ShuttleOne is a defi company and we are based in Singapore. We offer trade financing and microloans using the blockchain by tokenizing real world assets. We are probably one of the few crypto companies in the Defi space that applies the blockchain and crypto for real world problems in this case the financial services industry. We support Government to Business companies around the region by lending stablecoins out to these merchants who need loans and borrowing.
Gold Rocket | Satoshi Club:
You have chosen a very promising part of the crypto market!
And you have a great background!
Zhuang:
Well, we suffered thru the winter. I was a “real” farmer? Now I’m a real farmer.
Gold Rocket | Satoshi Club:
What kind of crop have you gathered?
Andres M. | Satoshi Club:
Have you helped projects of farmers across your platform?
Zhuang:
Virtual? Or the real world. Well, our tech facilitates the farming of SZO… and there’s huge news coming for our farmers in the next few days as we move into March…. we are going to reward our liquidity suppliers for their support to the ShuttleOne.Network.
Gold Rocket | Satoshi Club:
Both
Well, jokes aside! If you’re ready, we can jump into the community questions.
Andres M. | Satoshi Club:
What have been the largest projects that you have financed or is it something anonymous?
Zhuang:
Of course… Well, we did one crazy real world in a week ago?
Learn How ShuttleOne is Pushing Boundaries in DeFi for the Real World.
ShuttleOne does First Cross Protocol Transaction disbursing SGD$100,000 via $DAI Loan Facility in DeFi for the Real World.
Zhuang:
ShuttleOne<>Maker?—?— SGD$100,000 to an amazon eCommerce trader. I believe this is one of our largest loans…
Andres M. | Satoshi Club:
Amazing, how much is the interest rate for that big amount?
Zhuang:
6.5%, but across the portfolio of almost 3mil loans. (real-world btw) we payout 10% to our liquidity suppliers at www.shuttleone.io/mainnet It’s getting more and more exciting.
Andres M. | Satoshi Club:
Let’s go.
Zhuang:
Let’s go.
Andres M. | Satoshi Club:
Q1 from Telegram User @Pratze
Actually, I already follow ShuttleOne since 1st ama with Satoshi Club and the news is ShuttleOne token will list on DODO exchange, but why DODO exchange can you give the reason? because in my opinion DODO exchange is not famous, by the way, is there any other news since your 1st ama with Satoshi Club?
Zhuang:
Very very good question…. Internally, when we started talking to Dodo in December….we also had that reservation… Dodo isn’t famous, they are based in China. Who are they?
Gold Rocket | Satoshi Club:
This is your fan as I understand it
Zhuang:
But after sitting down and studying their PMM and no impermanent loss code…we realize this is actually a very safe decentralized exchange more importantly… we consider Dodo exchange the Uniswap of China…. let’s dig deeper… other than it being safe for users, and the “uniswap of china” we actually wanted to list on the 22nd of January…
Gold Rocket | Satoshi Club:
These are great arguments for DODO.
Zhuang:
Which was pushed back 1 month later due to technical difficulties… We realized, Dodo as team care so much about security and auditable records… Therefore, we can pretty much assume they are serious in their tech?—?as a technical founder. I can appreciate this. Therefore, we decided with Dodo to push back our IDO to 22/2, which after 1 month. Dodo rocketed onto BINANCE their token price pumped… This creates a lot of buzz for ShuttleOne because we are the 1st IDO on Dodo v2.
Lastly, every token that went on Dodo did very well… The last token that IDO went from $1?—?$8 in 24hrs. These are the reasons why we chose Dodo over others. In terms of news, I believe if you would follow us on Twitter and our announcement channels, we’ve many product updates, deals done and soon a serious partnership announcement coming thru.
Andres M. | Satoshi Club:
Yes, it was a big pump.
Zhuang:
The agreement was signed yesterday.
Gold Rocket | Satoshi Club:
By the way, share some useful links with our community.
Zhuang:
https://t.me/shuttleoneANN Zhuang:
https://t.me/shuttleone Here is our telegram group!
Andres M. | Satoshi Club:
What alliances other than DODO have you made so far?
I mean your partnerships.
Zhuang:
As mentioned, we have struck a partnership and grant incentive with one of the largest blockchain companies globally to hopefully help solve ethereum’s high gas’ issues. The agreement was signed yesterday and it will be announced soon, it will be announced shortly.
Gold Rocket | Satoshi Club:
Everyone is really tired of this problem
However, we are very excited about what you share.
Andres M. | Satoshi Club:
Q2 from Telegram User @konditer_rolex
You are aiming to be the first project in Asia to provide six-figure stablecoin loans to users. What crypto assets will you lend and support collateralized physical assets?
Zhuang:
We have done 2–3 6 figure stablecoin loans to users, real world companies dealing in trade finance as a product. It’s real, and it’s working. As more and more loans are done on the ShuttleOne.Network. SZO is burnt to incentivize liquidity suppliers and SZO token holders. We utilize a stablecoin called Credit Assessment Token or in short CAT. While we have not started to list CAT. It has already been on mainnet and as a crypto asset CAT has been approved to be collateral in the Maker Protocol and just like ETH can be collateralized to borrow DAI.
Maker (MKR) Token Holders Votes to Greenlight ShuttleOne’s CAT to begin Collateral Onboarding Work in the Maker Protocol
We would like to say a big thank you to the MKR holders that voted to greenlight us. Please read on to find why this matters and what does it bring to ShuttleOne.
So we are doing up the technicals with the maker domain teams soon.
CAT is what we call enterprise stablecoins. It is available for enterprises who successfully apply for loans in our systems and it acts like an algothrimic stablecoin where it balances itself to $1. I believe more and more enterprise tokens will come out in this Defi wave.
Andres M. | Satoshi Club:
Btw, what are the main benefits for SZO holders?
Zhuang:
And we have been testing and using CAT for all the loans disbursed on the ShuttleOne Network. SZO Holders are our dearest community.
Many projects in this space started off as Fintech first, still using traditional banking rails and corridors to conduct their business. For ShuttleOne, we started off a building on crypto and the blockchain and focused on solving real-world problems applying the DeFi technology to microloans and more recently in the past 6 months trade financing.
As a business, we support many government-linked entities in Singapore and South East Asia. More importantly, as you will see from this loan that we’ve done via etherscan:
https://etherscan.io/tx/0xb56db7337bf4a1606959adb47d1aa31df3652c22deb83177a40f784c28b22ad5 In ShuttleOne and SZO, we adopt a Continuous Burning Model. And we feel it is a beautiful alignment of interest of borrowers, token holders and liquidity suppliers.
- Liquidity suppliers supply stablecoins into www.shuttleone.io/mainnet earns 10% APY on their stablecoins.
- Borrowers take a loan from the system and burns SZO.
- Token holders benefits from the lower circulating supply SZO.
If anyone looks at our smart contract: https://etherscan.io/token/0x6086b52cab4522b4b0e8af9c3b2c5b8994c36ba6 You are able to see the burning of SZO happening on a almost daily basis as loans are approved in a decentralized manner on the ShuttleOne.Network, but a very important piece of information we’d like to say SZO is a KYCed Token. That is due to our licensing obligation in Singapore (yes Singapore has a crypto law now). The traded coin is wSZO, more information here:
Important Details of our Token Listing on the 22nd of Feb! Read on!
Gold Rocket | Satoshi Club:
I liked this name: CAT and RAT tokens
It is an accident? Or is it intended? Btw.
Zhuang:
It is going to be like wNXM the wrapped version of the Nexus Mutual Token. One day we were sitting thinking about token names and my dev was wearing a Tom and Jerry shirt. So we thought: hey why not RAT and CAT. And that’s how it became the Risk Assessment Token (an NFT that captures all the details of the borrower and company) and Credit Assessment Token (a token that captures the value of the asset in the real world). Well if only we can put that as the token logo on etherscan, that would be fantastic, but it will infringe copyright issues.
Andres M. | Satoshi Club:
How much tokens do you have? RAT, CAT, SZO, which other?
Zhuang:
Thats all.
Gold Rocket | Satoshi Club:
You have great web designers judging by the website. They will draw even better!
Zhuang:
But RAT, CAT and SZO work seamlessly in tandem throughout the whole ShuttleOne network with a specific purpose for each of the token types. We built everything in-house from a website and smart contracts from scratch, not a fork of a fork.
Andres M. | Satoshi Club:
So, how big is your team?
Zhuang:
When I first came to Satoshi Club we were 3 pax, me, and 2 devs. In Jan we hired 8 more folks and we are a team of 11 now. We could hire before our listing because the protocol is churning revenue that allowed us to bring on a bigger team for better products.
Gold Rocket | Satoshi Club:
Incredible! This is truly a team of the best specialists!
Zhuang:
Yes, SZO holders first, product and execution laser focus.
Andres M. | Satoshi Club:
Q3 from Telegram User @AugusS7
If ShuttleOne really seeks to “solve the fragmentation in finance”, it means that it will be a bridge that interconnects all the financial systems both Cex and Dex, right? or what is the fragmentation you are looking to solve?
Zhuang:
Another solid question. I think we are not trying to solve the divide between CEX and DEX. Both CEX and DEX co-exists as they need each other. In terms of the financial fragmentation that we are speaking about is the disconnect between the users and traditional finance. Typically, we serve the types of users that are:
- Do not have strong relationships with financial institutions;
- Poor credit history and underserved ;
- Small ticket sizes (microloan sizes) where profits don’t mean anything to these financial institutions;
- Cross border types of transactions.
This group of borrowers, typically have issues obtaining credit and this is one of the fragmentation that we speak of. Next, we feel every time anyone wants to take a loan. I’m sure many of you folks here experience these. You need to fill up a form, walk to the bank or go to the bank’s website to apply for a loan. ShuttleOne exists as a financial service infrastructure WITHIN our partners’ site. Take for instance, a sizable e-commerce company in South East Asia…
Andres M. | Satoshi Club:
How difficult is it to ask for a loan? anyone can do it or do they need some special features?
Zhuang:
We are just a button in their merchant central, these eCommerce merchants just need to tap the button, apply and get stablecoins all within the same platform. They do not need to go outside their ecosystem to apply for a loan.
Therefore, we feel we are building the operating system of a digital finance future….every digital platform will have ShuttleOne incorporated in their business strategy.
Well generally, if you are rich, you don’t need a loan, if you are poor you don’t have what it takes for a loan. So it can get pretty tricky…
Andres M. | Satoshi Club:
That’s true, usually, we need an excellent credit history to apply for a loan.
Zhuang:
How we are faster?—?in Singapore and perhaps parts of southeast Asia the average application time to disbursement (getting your money) is around 14 days. Everyone knows the blockchain does it in 7mins and coupled with the automated risk and credit management systems. We have basically automated the whole loan process and made redundant the whole risk management team of humans.
Andres M. | Satoshi Club:
Well, thanks for the clarification, our users are really interested in “fragmentation” an interesting feature of Shuttle One
Q4 from Telegram User @Rosane1a8
Among ShuttleOne major objectives, their one about solving the problem of fragmentation, this is a great advantage because having multiple accounts to store our funds results inefficient and even more expensive sometimes, but fragmentation has also made people increase the security of their portfolios due to the necessity of having it diversified among several sites. How do you enhance the security of users’ funds in one place, with the fragmentation problem solved?
Zhuang:
Some of the characteristics of the infra that ShuttleOne is building are these:
- Non-custodial
- smart contracts that hold funds of our liquidity suppliers DO NOT have admin keys. Therefore, we as a company and developers cannot rug it.
- Decentralized
- as a company, ShuttleOne do not hold onto funds of the borrower (neither our liquidity suppliers). All of the assets that are created from real world assets also hold to this philosophy.
Security and Risks are very important to us. The SZO contract is audited by Peckshield as early as April 2020. You can view the smart contract audit on www.github.com/shuttle-one (before DeFi even boomed).
We always ensure the safety of our users and that is also part of our licensing application with the Monetary Authority of Singapore. Which can be found on our GitHub also.
I don’t believe many defi projects are looking to be regulated, ShuttleOne is one of the few globally that has taken steps to do it to safeguard our investors, company and liquidity suppliers. You may read up on how we deal with risks and security here:
https://shuttleone.gitbook.io/step-by-step-guide-to-the-shuttleone-network/the-shuttleone-token/risk-management-and-disclaimers Andres M. | Satoshi Club:
Q5 from Telegram User @yellowchamp
Can you describe and elaborate more about Visage Protocol in Shuttle One? How does this protocol work in the Shuttle One network? What impacts and influence it will bring to the entire platform, investors, and to Shuttle One Community? What are the good and bad sides of this protocol? Thank you!
Zhuang:
First and foremost, the ShuttleOne team doesn’t only deploy blockchain, while that is core. The blockchain is just a great database for the immutability of data. Basically, it’s a decentralized excel spreadsheet.
Visage protocol is a computer vision facial recognition software that we’ve developed in-house to capture and digitize paperwork into digital format (JSON) so that our A. I can calculate the risk management portion of the borrower’s details. So simply put, Visage is like a pair of eyes that captures and remembers the data and it gets recorded onto the blockchain.
The good side of Visage is basically it automates (we do a lot of automation ain’t it?!) the risk management loan application process, truly letting machines and codes decide the outcome of a decision, taking out the human is also a good thing because it reduces the probability of fraud.
However, the bad side is also definitely taking away the human, the system is super automated and if codes do not work as planned? it may have detrimental downsides.
Of course….huge…and in the ShuttleOne ecosystem, we crunch a large number of data to ensure the loan applicant is a credible and safe loan applicant.
Andres M. | Satoshi Club:
What could happen in that case? I mean, what would you do if the protocol fails?
Zhuang:
At this point, if the codes fail, the loan application will just not be approved or go through (for security sake) and our partners will have to inform us to check what and how were the codes corrupted.
Andres M. | Satoshi Club:
People can be sure that this info never will be released to external companies, right?
Zhuang:
It’s decentralized. So the RAT token will only have attributes, but not the raw data.
Andres M. | Satoshi Club:
Q6 from Telegram User @Mahrabhossain
Could you tell me about your roadmap? What do you have planned for 2021?
Zhuang:
Well as everyone knows by now….we are conducting an IDO on the 22 of Feb. The details can be read here:
We will be having an IDO with dodoex.io Click
for more details:
https://t.co/Nr2tbfREKj?amp=1 Token Name: ShuttleOne (wSZO)
SZO Token Address: https://etherscan.io/token/0x6086b52cab4522b4b0e8af9c3b2c5b8994c36ba6 wSZO Token Address: https://etherscan.io/token/0x5538ac3ce36e73bb851921f2a804b4657b5307bf Token Allocation Chart: https://t.co/bmVRgQw0u1?amp=1 Crowdpooling Token Allocation: 1,000,000 Wrapped SZO (0.5% of the Total Token Supply)
Crowdpooling Token Price: 1 wSZO = 0.25 USDT
Crowdpooling Hard Cap: 250,000 USDT
Crowdpooling Start Time: 5 PM February 22, 2021(UTC+8)
Crowdpooling End Time: 5 PM February 23, 2021(UTC+8)
That is the immediate roadmap that we’re planning for. In terms of products, we are planning for a series of things that will enhance the SZO ecosystem by rewarding and securing the network a lot better
More importantly, if you go to the new UIUX today.
Andres M. | Satoshi Club:
A mobile app, maybe?
Zhuang:
You will see a feature called ShuttleSwap.
We are intending to release into production in the next 3 months and ShuttleSwap will allow users to go from Crypto to Fiat and Fiat to Defi seamlessly. We’ve been actively testing ShuttleSwap for a couple of weeks now. This will then differentiate us from other Defi projects as we bridge the real world again. So imagine you can go from USD to farming in 3 clicks That’s going to be a game-changer.
This is currently being upgraded. So yes mobile to farming? Why not.
Gold Rocket | Satoshi Club:
Incredible! You have already done so much and you have such big plans and goals!
Zhuang:
We will do it. Just because SatoshiClub asks for it.
Andres M. | Satoshi Club:
Thank you very much for this exciting conversation, as a moderator I have really enjoyed it
Are you ready for part 2 of the AMA, what I like to call “the rain of questions?”
Zhuang, [19.02.21 17:09]
Let’s rain it!
Part 2?—?live questions from the Telegram community
Q1 from Telegram user @ Johnny
Hello. CAT is an enterprise stablecoin. Am quite familiar with algo-stablecoin but I don’t think I know much about this enterprise stablecoin. Does it function similarly to an algo-stablecoin or are they different? How does it offer stability?
Zhuang:
When we mean enterprise stablecoin it means that it will be used only by businesses and enterprises to value and on-chain their assets onto the blockchain therefore it is not for retail, unlike SZO.
Q2 from Telegram user @ Bea evolvet
ShuttleOne is known to have made a great effort in the fight against Covid, how did Covid19 affect the development of your project? And do you really believe that Shuttleone and it’s transfer system will improve the pandemic situation we live in?
Zhuang:
I believe that our tech has been forged stronger during the pandemic, you may read more about it here:
https://medium.com/@zhuang_66760/building-shuttleone-series-2-standing-firm-in-mission-critical-financial-services-c252b5f74630?sk=75053343da7fccbb01c40afd5d47bea9 Q3 from Telegram user @ Icy
In my opinion, ShuttleOne is a big and great project, I’m also interested in your project. so did you have any private sale or maybe an ICO / public sale that still available for now? kindly to share
Zhuang:
thank you for your kind words. we hope you’d support the IDO on Dodoex on the 22 of Feb. however we do not have any private or seed rounds. that is because everyone starts fair.
Q4 from Telegram user @ Johnny
Hello. As at the last time you were here, you said there is NO PLAN to carry out IEO or any crowdfunding program. But now, you will be carrying out an IDO which is similar to IEO on DODO. What has changed? Why do you think you need it now and how can interested investors be part of this?
Zhuang:
This is a great question. The IDO funds raised will go to form the mining pool on Dodoex, and it is very different from an IEO or ICO where the funds go directly to the company and a large dump of tokens happen right after…we are trying to prevent this with a very small circulating supply of around 3%.
Q5 from Telegram user @ tehMoonHunter
Hello. Mr @Zhuangg535 welcome again, DODO offers sufficient liquidity comparable to that of centralized exchanges (CEX), because ShuttleOne chooses this exchange to list at $SZO, what are the benefits it offers, $SZO on it?
Zhuang:
- Dodo is seen as the Uniswap of China therefore there’s a huge Chinese community backing it.
- The previous IDO on Dodo went 8x upon listing, from $1 to $8.
- Dodo’s tech PMM prevents impermanent loss and we believe this is a huge innovation from Uniswap.
Q6 from Telegram user @ Prof. RZ
What about ShutthleOne’s tokenomics? how are your tokens distributed and how many tokens would be unlimited?
Zhuang:
Here are the token metrics, but what is good to note, the initial circulating supply is at around 3% and in these bull markets, small caps you know how it goes.
Q7 from Telegram user @ Ho-jin
Can you tell us what the Structure and Distribution of the $SZO would look like? @zhuangg535
Zhuang:
It looks like this:
https://shuttleone.gitbook.io/step-by-step-guide-to-the-shuttleone-network/the-shuttleone-token/structure As most of the SZO rewards from liquidity mining are not mined. We can safely assume the 22/2 circulating supply will be at 3%.
Q8 from Telegram user @ Cengizhan Tekin
I care much about real life reflections of crypto projects and you have it. Can you tell me some about SME Financing and other similar studies of Shuttle please?
Zhuang:
We’ve supported a whole range of different industries. As mentioned we are looking to be the operating system of finance for anything that’s digital…you may read more about our case studies here:
https://shuttleone.gitbook.io/step-by-step-guide-to-the-shuttleone-network/about-shuttleone/case-studies Q9 from Telegram user @ Memo
Each of the cross-border transactions carried out by ShuttleOne will be completely transparent and can they be seen on etherscan? or are they totally private?
Zhuang:
These are all on public blockchains….you may check out the SZO smart contract here:
https://etherscan.io/token/0x6086b52cab4522b4b0e8af9c3b2c5b8994c36ba6 Q10 from Telegram user @ Jade
Why almost 50 % of the total supply of Shuttle one is not minted yet? How do you guarantee the security of that funds without locking the report?
Zhuang:
What this means is that more than 50% of SZO has not been created. it is just like BTC right? we know there’s only 21mil BTC, and there’s around 19mil BTC circulating at the moment if I recall correctly. It will only be minted when there are block rewards created.
For SZO, it is the same. more than 50% of the tokens are not created. and therefore there are no tokens to circulate and can only be minted when there is the business to be done in the ShuttleOne.Network.
We designed it that way to safeguard SZO token holders with a small market cap, and incentivize the team to push for more loans and business to be done and therefore bringing more SZO to life.
Part 3?—?Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club/ Russian Telegram group: https://t.me/satoshi_club_ru/ Spanish Telegram group: https://t.me/satoshi_club_spanish/ Telegram Channel: https://t.me/satoshi_club_channel/ Twitter: https://twitter.com/realsatoshiclub/ Website: https://esatoshi.club/ Our partners:
Telegram Community?—?https://t.me/shuttleone Twitter?—?https://twitter.com/shuttle_one Medium?—?https://medium.com/@zhuang_66760/building-shuttleone-series-2-standing-firm-in-mission-critical-financial-services-c252b5f74630?sk=75053343da7fccbb01c40afd5d47bea9 Github?—?www.github.com/shuttle-one WebSite?—?https://shuttleone.gitbook.io http://www.shuttleone.io/mainnet
