Annex Finance AMA Transcript

Crypto lending/borrowing platform with DEX, Swap, and NFT auction

By
BSCNews
on
July 21, 2021
Category:
AMA

Andrew:

Hi all and welcome to the AMA with Annex Finance!

Today we have the founder David joining us as well as Gabi the community manager!

David:

Hello, thanks for hosting us

Gabi:

Thanks Andrew and BSC News for hosting us 🙏

Andrew:

Of course, so before it begins let me go over how it will work is the AMA will consist of two rounds

In the first round we will go over the questions that I had prepared for you. In the second round, I will open the room up for the community to ask questions and from there you guys will pick 2 questions you'd like to answer and they will the winners of our giveaway

Sound good?

David:

sounds good

Andrew:

Great, so let's get started then.


1. Can you introduce yourself? Do you have a background in crypto prior to launching Annex?


David:

sure thing, as you can tell my name is David, I'm the founder of Annex Finance. we founded this project with my team of 40 who are specialized in software design and development with a rich experience on DeFi and NFT development experiences.  We had developed project such as OctoFi and shopping.io in DeFi as well as NFT platform such as Club Rare in our background

Andrew:

Great! So pretty extensive knowledge on the crypto space

so just as a side q, how long have you been in the DeFi space?

David:

Gabi had been helping me and my team on market analysis also, he had been of great aid for us.

I personally had been in defi space since around 2015

so I've seen the up and down of crypto market

Andrew:

Gotcha, thank you for the answer

So moving on


2. What is Annex Finance? What is your overall vision/mission of this project?


David:

this is a fun one, in our vision, we want to turn Annex Finance into a one stop shop DeFi platform with Collateralized lending protocol, AMM, IDO auctions, and NFT on cross chain.  The plan is to initially launch the platform on BSC and then ETH and Polygon shortly after.  We wish to unity the cross chain platform through our protocol by offering lending/borrowing protocol across different chain users.  on the side note of BSC/ETH/Poly, we are also currently in talk with TRON's team at the moment also, if market liquidity supports it, we plan to add tron's token in our lending portfolio also

I hope that kinda answers your question on that

Andrew:

Yeah it does! Great to see you guys constantly looking to build more and contribute more to the DeFi space as a whole

So there is a lot to unpack there as when I went to check out Annex, I saw there were tons of features


3. What are all the features that are implemented or will be implemented onto Annex Finance?


David: 

We see short coming in different chain of network, currently there isn't a very well known platform that are willing to target  multiple chains at the same time, so we wish to be the first to disable this shortcoming

as for features that will be implemented or will be implemented onto our protocol.  As you might be already aware of is that the main features of the platform on day 1 are lending, swap, farms, auction and token holding rewards. In the short term after launch we will also have an NFT marketplace.  We have a long term goal to build our own chain base on cosmos to support multi-network swap & liquidity.  We also have plans to support banking and card services as well as offering ANN its own sellers platform connected to amazon seller center in our pipeline.  This project’s goal is to provide a multi-function service center across the Defi space for all the major defi networks.

as for features that will be implemented or will be implemented onto our protocol.  As you might be already aware of is that the main features of the platform on day 1 are lending, swap, farms, auction and token holding rewards. In the short term after launch we will also have an NFT marketplace.  We have a long term goal to build our own chain base on cosmos to support multi-network swap & liquidity.  We also have plans to support banking and card services as well as offering ANN its own sellers platform connected to amazon seller center in our pipeline.  This project’s goal is to provide a multi-function service center across the Defi space for all the major defi networks.

banking and card service although might sounds like a long term goal, but our team are already in talk with crypto card company to offer whitelabel cards for the future, but before that can happen, we need to make sure we have a solid liquidity in our platform first

the goal set in our whitepaper are by no mean a hype :)

Andrew:

Big plans I see!

So it is very in line with your vision of having this all encompassing platform

David:

ya, we want to fill some big gaps

Andrew:

So it is very in line with your vision of having this all encompassing platform

David:

ya, we want to fill some big gaps

Andrew:

Very cool


4. What is $ANN? What are its uses on Annex?


David:

we are by no mean a small team, with the knowledge behind our teammate and developer, we believe we can make it happen.

As for $ANN, ANN token will be our native token, the token will serve much utilities, firstly, the token allow us to create a secure lending platform where lenders receive compounded interest per block while borrower pay interest on the cryptocurrency borrowed, the token itself will also act as a governance token of our platform.

The token will be minted through both LP staking and governance staking with about 80% of token distributed to the users in 4 years.  On top of that, the $ANN token will also act as currency in auction platforms and as well as enable purchase/bid of NFT collectibles

Andrew:

Awesome, thank you for that explanation


5. How do you feel as though Annex Finance is unique or different from the hundreds of other projects on the Binance Smart Chain?


David:

I personally feel that we are definitely unique and different from other projects on BSC.  We are building a one stop Defi platform, Users can Lend & Borrow, Supply Liquidity, Sway Tokens (AMM), Buy NFTs and even launch projects via our unique IDO auction launchpad.  Although the scope of this project is huge, we are however lucky to have the experience and knowhow to help us achieve this goal.  Ultimately we believe our project can bond the defi network closer to each other and serve as an upfront “go to” platform for users in crosschain.

there are project that offers lending and borrowing such as venus.io and fortress.  But I want to stress that we do not wish to be known as their competitors, rather, we wish to co-exist with those project and bring more utilities to the DeFi space

Gabi:

We love what Venus and Fortress is doing tbh :)

Andrew:

That's really cool

How instead of competition, you guys are really in this to grow the entire space

Gabi:

but we have much more to offer to Defi space

David:

we want to bring defi space closer :)

Gabi:

true..

Andrew:


6. Why did you decide to build this project using blockchain? What are the benefits from utilizing blockchain technology with Annex?


David:

The core functionality of ANN token is to be able to swap liquidity and it’s supported in lending supply/borrow, auctioning purchase token and ANN holding rewards without staking.  All of these would only be possible by utilizing blockchain.

without blockchain, we would not be able to reach our vision of what we can offer in DeFi space

Andrew:

Of course

There was one feature that I was really interested in and was wondering if you could elaborate more on what that was for our community here.


7. Tell us more about your auctions, is this sort of a launchpad?


David:

Yes, it's a kind of launchpad which also ensures the initial liquidity for the projects. We will have multiple auctions (Batch, dutch and fixed-swap auctions) built-in for our protocol to support multiple forms of liquidity.  The biggest advantage of batch auction is that buyers don't have to wait for a certain time to submit orders, but that they can submit orders at any time.

for the launch, if there is any unsold token, the unsold token will go directly back into community treasury.  User who decided stake ANN for a long period of time will be heavily rewarded

hope that answers it

Andrew:

I see

and yes it does, thanks for that clarification


8. How will you be able to maintain instant liquidity for your borrowing protocol?


David:

We are planning to conduct ILO of $ANN tokens which will give us instant liquidity for our native token and we also have farming incentives in ANN for liquidity providers just like PancakeSwap.  But in terms of instant liquidity for borrowing protocol.  Liquidity provided by auction will always remind constant  We also have detailed analytics data and modules from multiple markets in lending with high volume assets to support this claim as well.

the initial liquidity would play a critical role for our platform.

Andrew:

okay awesome

and lastly


9. Any exciting news you’d like to announce here today?


David:

I got a few in my mind yes, 

firstly, We have recently completed the lending and auction in testnet.  Currently we are going through the 2nd stage of internal testing. We will soon release the protocol in testnet prior to token offering so users can get a feel of the protocol before deciding if this platform is right for them and it will bring more details to users how it works.

second, we plan to renounce ownership on day 1 to provide a sense of security to investor through DAO, Certik is taking the first step to complete the audit for us and we hope to gain investor's trust by enabling skynet with the protocol on day 1

Andrew:

Sounds good!

Can you send links to all of your social media accounts that you'd like the community here to check out?

David:

yes

twitter:

Telegram:

landing page:

whitepaper:

Medium:

Github (for those interested):

Announcement Channel:

Andrew:

So thank you again for joining us today David and Gabi and good luck on future developments for Annex Finance!


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