CryptoScape AMA Recap

13 min readSep 13, 2021

Yesterday we took part in an AMA session with the Cryptoscape community on telegram. A number of interesting questions were asked by the community and it was our pleasure to be able to answer them. For those of you who weren’t able to attend, below you can find a recap of the session. 👇

Recap

Sahil Seth: Hello Chris, Mr. Blank, and M Rock we welcome you to an ama session with Cryptoscape

M Rock: Hello, happy to be her

Chris: hey Sahil very glad to be here!

Mr. Blank: Hello everyone Thanks for having us here

Sahil Seth [In reply to Mr. Blank]: It’s our pleasure to have you amongst us today so are you ready to start the Ama session with usual custom of introductory questions?

Mr. Blank [In reply to Sahil Seth]: Let’s go!

Sahil Seth: That’s amazing so dropping in the first question amidst your eyes :) please introduce yourself and your team to our community and tell your crypto story

Chris: Hey everyone, so a quick introduction…most of my professional career has been in traditional finance as an investment advisor, asset manager, and mortgage broker. I’ve always seen a need for what GovWorld is designed for dating back to 2017 when I first learned about Bitcoin and distributed ledger technology.

Mr. Blank: I’m the CMO for GovWorld, I graduated from university around 2 yrs. ago in the states and moved to the UK, fate brought me to Dubai which is where I’m currently based. I actually developed an interest in crypto from a very early age, first explored BTC when I was 13, which is around 9 years ago now. Throughout the years I’ve made a number of strategic investments, notably purchasing super farm’s entire first collection, I’m also a governance member and top-tier holder within a number of well-known projects, one of which is where I met Chris & Mike

M Rock: I am a CFA charter holder with a Master’s of Science in Investment Management with vast experience in TradFi including managing $250M statistical arbitrage strategy and having been a portfolio manager of over $10bn at one of the world’s leading private equity firms. I became involved in crypto last year and made it my full-time endeavor this year after seeing the potential of DeFi being involved in a few projects over the past year including governance of Poolz, analyzing projects for a few VCs, and architecting a decentralized fund management system with Nyan Finance as well as a few other experiences.

Sahil Seth: That’s an amazing introduction given by you now moving ahead with the next question.

Sahil Seth: What is GovWorld all about explain it along with use cases and Vision

Chris: GovWorld came about because, as I said before, I saw a need in the marketplace especially when it was applied to launchpad and incubator governance tokens (although the GovWorld concept applies to a much larger audience of MANY types of crypto projects) this is where I met Musthafa Ahmed, Mike Rockland while being members of top tier incubator and Launchpad groups like DuckDAO, Ferrum, Poolz, Dext etc. We all wanted to see a loan marketplace that would allow someone to borrow cash (or stablecoins) against the value of their governance token while still maintaining tier-level benefits & staking rewards. Think of us like an eBay for high APY% short-term loans. Borrowers create all the rules to the loan and the marketplace (aka lenders) decide whether or not the risk/reward ratio is worth it. This will be a need in DeFi for a long time and we think the customizable nature that gives our user’s the freedom to choose all loan terms is one of the big differentiators of GovWorld and GovLend.

Sahil Seth [In reply to Chris]: That’s amazing now time for the next question. Share in your Tokenomics and mention locking and all. Additionally, mention transaction fees charged on every transaction

M Rock: At a high level I will say first that there are no transaction fees that will be charged on transactions and second that we have carefully created the tokenomics in such a way to stagger any selling pressures that may be seen from vesting and smooth out the unlocks as much as possible over a longer period of time. There are many projects who have had their tokenomics detract from token value and we have worked closely with our strategic launchpad partners to craft tokenomics that leverage our learnings thereby creating a better experience for holders. For further information and specific vesting details, I would like to point everyone to the pitch deck for GovWorld which we will include in the links at the end of the AMA.

Sahil Seth:[In reply to M Rock]: That’s amazing no transaction fees :)Now moving ahead with the next question.

Can you tell us about Govworld's current partners, plans for partnerships, and what everybody stands to gain from these partnerships?

Mr Blank: So far, we’ve announced 3 electric partnerships with: DuckDAO, Ferrum Network and Zokyo labs (for auditing of our smart contracts), We have more strategic partnerships in the pipeline that the community can look forward to hearing about very soon. As far as benefits go, just to name a few, our strategic partners’ governance tokens are instantly approved for staking on GovLend, where community members can take out cash loans, GovLend will also mint a synthetic native governance token at a 1;1 ratio so that users can keep their tier level status and staking rewards within there respective community, and we will also run exclusive staking pools where community members can stake their tokens and farm rewards!

Sahil Seth[In reply to Mr Blank]:That’s amazing actually: Now time for the penultimate question of this segment be prepared

Why should the community hold $GOV, what are the main utilities?

Chris: GovWorld gives value to all $GOV holders in several ways such as access to 1. GovLend to borrow USDT, USDC, or DAI against the value of any approved altcoin or NFT they hold in their wallet 2. Increase the amount of $$ they can borrow by holding more $GOV. Higher LTV (Loan to Value) based on $GOV holdings 3. FarmFi staking pools for our Strategic Partner communities where they stake their native governance token (such as DDIM, FRM, etc) along w an equal amount of $GOV to earn $GOV 4. GovBridge allows our community to move their $GOV token between BSC, ETH, and Polygon (MATIC) for new staking, staking , borrowing and lending opportunities 4. Other cool stuff coming soon too such as GovIntel, GovGaimz etc which u can read about in our WhitePaper.

Sahil Seth[In reply to Chris]: That’s amazing actually :) So with that we came to the end of this segment

Are you ready for the next segment wherein we selected the best 5 questions out of hundreds posted over our Twitter handle?

Chris [In reply to Sahil Seth]: Yes sir!

Sahil Seth[In reply to Chris l GovWorld]: That’s amazing so time to put up the first question in front of your screen.

I think I read something about the 1st two parts of the #GovWorld Ecosystem to go live will be: #GovBridge and #FarmFi? So can you talk more about these 2 much-awaited launches on the platform? Can you share some of their amazing features & how they work?

Mr Blank: Yes, so FarmFi will be one of the first features to go live shortly after TGE, so that both our community and our strategic partners communities have the opportunity to stake their tokens and earn farming rewards through our exclusive pools while we run through the final stages of development on GovLend (the crown jewel). GovBridge, like the name suggests, will be a bridge between the ETH, BSC, and the Polygon chain with some neat features/use cases like using our $Gov token for gas fees. One use case for GovBridge will be for users to move their $Gov tokens from chain to chain for new SP farming pools. More info will come soon on some additional features/use cases and what the community can expect!

Sahil Seth [In reply to Mr Blank]: Seems really interesting :)Now moving ahead with the next question

At GovWorld the lending process can have any collateral types including NFTs, how can NFTs work as collateral of any currency if they are not fungible? The amount of the currency that can be lender would depend of the momentary price of the NFT complete?

Chris[In reply to Sahil Seth]: NFTs are a huge part of the GovWorld ecosystem. Beginning with borrowing against the value but also in the future through our innovative GovGaimz and FarmFi products.In short tho regarding price I will answer the same way I answered Ian at Ferrum…The NFT space is one of the most exciting sectors within the crypto space. I think there are also challenges within the space too which I’ve mentioned in other AMAs, such as.,

1. NFTs are highly subjective in their pricing.

2. There isn’t a lot of trading activity on most NFTs

So because there isn’t a lot of trading, there also isn’t a constant price feed (like altcoins) to track liquidation risk. Again think of GovWorld like eBay…. all we do is facilitate the connection between NFT holders (borrowers) and lenders… we port in data from Open Sea, Rarible, or Nfty Gateway…including price. The lender then will see the NFT loan offers and the info ported in from these platforms and decide whether the APY% and the collateral NFT is worth the risk. Of course, we will flag NFT loans with a warning recommendation to lenders to complete due diligence before accepting the given value (price) of an NFT for a loan offer. Liquidation on NFT loans will only occur if the loan isn’t paid back on time NOT based on price fluctuation like altcoin loans. Again we will see real-time what the appetite is in the market for such loan offers.

Sahil Seth[In reply to Chris]: This is a really detailed answer given by you now moving ahead with the next question.

High gas costs, fragmented liquidity pools, low throughput, and poor user experience are the current challenges in DeFi. What will the GovWorld team do to address this? Does the GovWorld team have experience in the Blockchain industry?

M Rock: I agree that a huge challenge to DeFi is the user experience. From what I see in the industry right now the majority of protocols are being built almost entirely by engineers, which — absolutely no disrespect to engineers because they are brilliant, but in my professional experience a project built solely by engineers can lead to a poor user experience. We have a diverse set of backgrounds on our team and are laser-focused on user experience (which encompasses gas costs and throughput in our eyes). We don’t want anything we build to be cumbersome, costly or complex, but rather intuitive, efficient and approachable. We have a wide range of experience in the blockchain industry as well as in traditional finance between our team, advisers, and partners which provides us with a strong foundation to take our accumulated knowledge and tackle the challenges faced in DeFi and provide users with an enjoyable experience.

Sahil Seth[In reply to M Rock]: That’s great now time for the fourth question of this segment :)

4) What’s your plan to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of $Gov

Chris: What we are doing is taking something that non-crypto-natives are familiar with which is borrowing against the value of something you own. In traditional finance if u own the deed to your house, car, etc you can borrow against it, in crypto if u have the private keys and hold the altcoins or NFT then u can borrow against them, so non-crypto-natives will understand this and will probably be more inclined to interact with DEXs and DeFi if they see something they are familiar with. As for the value of $GOV that is inherent in the use-case found within ALL products and services of GovWorld.

Sahil Seth[In reply to Chris]: That’s really interesting now time for the last but not the least question of this segment:)

As reading from your website I found that Users can Receive rewards through the $gov token. Can you tell us a bit more about these rewards?

Mr Blank: So we are big on giving back to the community.. Aside from the exclusive staking pools which I previously mentioned, GovGaimz and GovGenius rewards are two cool features that offer our community the chance to win/earn rewards. For GovGaimz, we will have a number of games starting with YFLotto where our community members can ‘play to earn’ and through GovGenius rewards, community members will be rewarded for their amazing ideas and contributions to the GovWorld ecosystem (more to come on this soon). We also tend to run contests from time to time as an added bonus where anyone is welcome to join in, for the chance to win!

Mr Blank: Right now, we are running our early supporter contest There are just under 6 hours left till we close it but we welcome everyone to participate for the chance to win from a $3000 USD worth of $GOV tokens prize pool 🎊 Ill drop the link below for everyone to check out ❗️

Mr Blank: https://bit.ly/3nqIOGj

Mr Blank: Remember, the giveaway ends at 9PM UTC , just under 6 hours left🔥

Sahil Seth [In reply to Mr Blank]: So with that, we conclude this segment as well are you ready for the final segment wherein you could interact with our community and address their questions (best 5)???

Chris [In reply to Sahil Seth]: Yessir!

Mr Blank [In reply to Sahil Seth]: Let’s go 🙌

Sahil Seth: That’s amazing so guys opening up chat in 30 Seconds meanwhile posting ruled go through them:)

Sahil Seth: https://t.me/GovWorld_Community Join this group to be eligible for prizes. Slow mode will be enabled so don’t wait until the very last moments. Opening up chat in …

X: Does GovWorld have a qualified team to fulfill it’s goals?

Chris [In reply to X]: We are fortunate to have some of the most experienced developers within DeFi on our team. All products and services within the GovWorld Ecosystem follow the same process which includes vigorous auditing so it will work as promised… here I will share our ecosystem…

Captain Price: How important is security, safety and privacy to the GovWorld platform? Smart contracts are open to risks, is your contract audited, is there a report? If you passed the audit, can you tell me what glitches and problems you encountered in your project?

M Rock [In reply to Captain Price]: These aspects are of paramount importance to us. In addition, our large and experienced engineering team we have partnered with Zokyo who is trusted by such projects as Yearn and AAVE for smart contract audits. You can rest assured that once the platform and smart contracts that power it are completed they will undergo full audits to ensure security and safety for our users.

Nhựt Tran: Most users only care about immediate benefits rather than the real value of the project in the long-term. How can Your Project convince users invest to your platform in the long-term?

Mr. Blank — [In reply to Nhựt Tran]: The GovWorld ecosystem was built with the long run in mind. We understand the need for new projects in the cryptospace designed for BOTH the bull and bear markets, the use cases our ecosystem incentivize long-term holders, whether users are looking for additional capital to invest with while maintaining tier-level and staking rewards, shorting a token in a bear market or even simply earning farming rewards, GovWorld has the communities best interest at mind!

Pichchi: Can you list 1–3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?

Chris: Yes please see here :)

Karim: Is there a book or website for your project so we can learn more about your project? If so, can you share with us?

M Rock[In reply to Karim]: You can see documentation and all our social media links here: https://t.ly/govworld-about-socialmedia-links

King(Rj): Binance smart Chain blockchain is having high transaction speed and cheap gas fees, are you planning to launch in this your mainet or switch to other blockchains in the future?

Mr. Blank [In reply to King(Rj)]: Yes, so the first two chains we will be launching on (adding liquidity to) will be the ETH chain and BSC. GovBridge will be up and running shortly after TGE for users to move their $Gov over from chain to chain as we understand each user has their own preference. We have plans to add liquidity to polygon (no set date yet) but we will update the community accordingly if we decide to include any other chains in our plans :)

STONAR : Southeast Asia is a very vibrant market and there are many new platforms under development. So what do you think about Southeast Asia and do you have plans to grow there?

Chris [In reply to STONAR]: STONAR we are very excited to expand to Asia; we are in talks w Huobi Ecosystem about expanding the HECO chain… so please stay tuned!

Sahil Seth: So with that, we came to the end of this ama session anything you will like to conclude with???

Mr. Blank [In reply to Sahil Seth]: Was our pleasure answering the community’s questions! Thanks for having us 🙏

Sahil Seth: [In reply to Mr. Blank]: It’s our pleasure to have you amongst us today thanks a lot for sharing in your valuable time with our community and addressing the questions in so much detail:)

We wish you all the best with your product and hope to see you soon:)

Chris l GovWorld [In reply to Sahil Seth]: thank you Sahil for having us it was great to be here everyone thank you!

About GovWorld 😎

GovWorld is the first DeFi ecosystem of its kind, leveraging the power of the most customizable P2P, cross-chain lending protocol on the blockchain. Able to collateralize any approved altcoin or NFT for public or private loans of USDC, USDT, or DAI. This is where users can unlock their liquidity, retain tier level benefits & staking rewards, and have 100% freedom to choose their terms.

🚀 🚀

✅ Innovative DeFi ecosystem.

✅ Collateralize any approved Altcoin for short-term cash* loans.

✅ Collateralize any NFT for short-term cash* loans.

✅ Choose your loan terms.

✅ High APY% opportunities for lenders on USDT, USDC, DAI.

✅ Maintain tier & staking rewards while altcoin staked for loans.

✅ Limited time, strategic partner staking pools to earn $GOV.

✅ PLUS + + other cool DeFi benefits in the GovWorld ecosystem.

🚀🚀 *USDT, USDC, or DAI

Unlock Your Potential at GovWorld!… 🙌

Website: https://www.govworld.io/