RECAP AMA EPID COMMUNITY X PANDORA PROTOCOL
🗓 Date: 18th August 3 PM UTC | 10 PM (GMT +7)
🏚Venue For AMA: @EPID_Community
💰Reward Pool: $100
➡️Part 1: Project Introduction.
Q1. Could you briefly introduce about your project?
A:
Yes sure so Pandora is founded by Pushkar Vohra (CEO), who was previously part of EthLend(now AAVE) and many other DeFi projects.
We provide a liquid infrastructure protocol where any assets can be tokenised in liquid form and can be further traded as swap, lend, borrow or can derivative trade.
For those NFT generated on other platforms, we are bringing innovative mechanism to bring liquidity via PiNFT. PiNFT is a novel approach to get liquidity in any NFT and make it tradable to a cross-chain platform.
Q2. What makes the PANDORA PROTOCOL project stand out more than the projects in the same direction at the moment?
A:
Pandora is a hybrid Open Finance solution for the problems faced by both traditional finance and decentralised finance. We envision the transaction of real-world assets on the trustless and decentralised platform in a borderless economy. Our scalable, interoperable and high throughput infrastructure converts the illiquid state of NFT to the liquid state for both Real-world and digital assets.
Technically, Pandora is the middle layer solution that is inducing liquidity to NFT created on Pandora and other platforms. Developers can also plug and play their Dapp to the Pandora Protocol and provide liquidity to the user’s NFT.
Pandora is not competing with any other projects. Instead of competing it is helping other projects to have liquidity induction in their NFT which is unique and innovative ✨✨
Q3. What are the memorable milestones of PANDORA PROTOCOL in the research and development process?
A:
Pandora, Protocol aimed to bring the real-world assets to On-chain from the beginning.
We talked with various industry experts, users and devised our solution and saw that there are many different problems when bridging traditional finance to decentralized finance. Like liquidity issues, the validity of assets, identity issue of the asset owner, cross-chain transactions, and various other concerns.
Among them, the most concerning issue was the liquidity problem. And, there, we decided to work on inducing the liquidity in the tokenized assets for Open Finance.
Milestone 1:
In a short period, we were fortunate to build the beta version of our product with very few team members.
Milestone 2:
We have also closed a small amount of early-stage of money to develop the product. On the business side there are 3 products getting built on Pandora.
Apart from that we have several minor milestones . That you can find in the pinned chat of our group or our announcement channel.
➡️Part 2: Question From Twitter (5 best questions).
Q1: @safeene3939
They recently announced their partnership with Unmarshal in order to "leverage their data indexing API to get metadata relays", but could you really explain in more detail how beneficial this partnership is to the NFT trade?
A:
Pandora works in NFT space and Unmarshal works in data indexing space.
While making trade of NFT, there are lots of parameters like price, owner, and other data points used for making decisions before doing trade. By partnering with Unmarshal, these data points will be available in the Pandora Stack itself. We have put the article around it as well. You can read more details at:
https://medium.com/pandoraprotocol/pandora-partners-unmarshal-to-leverage-its-data-indexing-api-for-richer-nft-metadata-relays-fa87213a6315?source=collection_category---4------1-----------------------
Q2: @basCLU2
Within your scheme and design of borrowing real world assets without intermediaries, it is extremely striking and innovative, but my question is are they purely decentralized? and is your technology audited by which recognized companies?
A:
Yes , we are completely Decentralized . That's the beauty of the product crafting out the product was but of a challenge but the team did it effortlessly with the limited time and resources . We are currently running on BSC chain and will be shifting to Polkadot after some time.
As for the Audits. We have audit report from the one of the most renowned names of the blockchain industry , Zokyo has performed audits of Pandora Protocol smart contracts and verified that is the safe and secure for any vulnerabilities!
Q3: @tndkhoa11
In an article on Medium I read that Pandora is working on the creation of real-world asset tokens through dynamic NFTs. Exactly what are these dynamic NFTs and what differentiates them from traditional NFTs? What advantages and benefits would this type of NFT bring to users?
A:
Dynamic NFTs are those NFTs whose value changes with respect to outside events. Here we are using oracle to fetch the external event details in the NFT and making it dynamic. This is something very new we are coming with for the NFT ecosystem. Further Details can be found here:
https://medium.com/pandoraprotocol/pandora-protocol-a-concise-guide-to-dynamic-nfts-5a0507e1cd58?source=collection_category---4------4-----------------------
Q4: @BADGUYss999
As a community-based project, how can I donate my quota for your success? Do you have a Global Ambassador Program or a Referral Rewards System?
A:
Our Global Ambassador Programme is ready. Just waiting for the perfect time to drop the bomb.
Lots of big surprises are planned for the community and we would like to have you all associated with us.
As a customer centric company we look out for our community as our family and we will do everything necessary to make them feel special.
As for Global referral programme will go live as soon as the product will go live. Time to time competition as being held in the community to engage and maintain a healthy relationship between the community !
Q5: @trumAKALI
Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?
A:
All the major decisions lies in the hands of the community only:
Token has mainly 3 use cases.
1. Utility token : used for trading NFT
2. Governance token : Used at DAO infrastructure
3. Staking token for Parachain
We have also released detail around our tokenomics and token usage.
Blog can be found at https://medium.com/pandoraprotocol/introducing-pndr-token-from-pandora-finance-tokenomics-and-distribution-5a4acc90ea66
➡️Part 3: Free asking (5 best questions)
Q1: @KKaitokid1412
Can you share your route with our community? And what is your top priority going forward?
A:
We have planned to go in market with digital assets platform KyLyX first then we will bring Real World Assets on it. That’s the top priority as of now!
Q2: @drammaoi
Can you share to us your tokenomics? How much is the total and circulation supply of your tokens? Will there be buy back system or token burning in the future?
A:
We have released a detailed article around our tokenomics and token usage.Blog can be found at
https://medium.com/pandoraprotocol/introducing-pndr-token-from-pandora-finance-tokenomics-and-distribution-5a4acc90ea66
Q3: @Rosane1a88
🌸 With Pandora, users can tokenize their social skills in the form of NFTs and make them tradable,it is curious to me, what social skills can be tokenized?
A:
Anything that can be registered as an NFT can be tokenized and registered as an NFT . But there will be any specific criteria to select the registration of an NFT as an Valid NFT'S . So that there isn't any spam on the website!
Q4: @sorrysir145
Can you tell us about your team members? they qualified and professional in their fields? what are the recruiting qualifications for team members for your extraordinary project?
A:
We are a team of individual experts in the technology and business vertical. Pandora founder Pushkar Vohra has worked with Ethlend ( now AAVE ), founded Blockslab and worked with few other DeFi projects before starting Pandora. He has also been the TedX speaker.
Other teammates Ankit and Sachin, have also worked with various crypto and non-crypto companies like Ocean Protocol, BigChainDB, Red Hat, Blockslabs and few others.
One common thing about most team members is that they have worked with the best DeFi and crypto projects before. We are very much confident about the success of Pandora in the NFT ecosystem.
Q5: @MANGA24HF
Could you please tell me just a little more about the team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes?
A:
We have an highlighy qualified team of developers, Marketing , operations and R&D . That utilize their time in improving the product and taking feedback of the customers and giving them to the team for the feedback. Background are from AAVE and other big names in the Blockchain Universe!
