Depth AMA Transcript

"a secure and efficient stable assets management protocol "

By
BSCNews
on
October 19, 2021
Category:
AMA

Andrew (BSC.News)

Hello everyone and welcome to the AMA with Depth!

Today we have Eric, the head of marketing and operations for the Depth Team

0xEric@Depth

Hi all, so excited to be here :)

Andrew (BSC.News)

Great to have you here today @oxeric

So how this will work is, the AMA will consist of two rounds. The first round will be us going through the questions that I had prepared for you before hand. And then the second round will be a community round where I will open up the room to allow questions to come in. The second round is also where we will select the two winners of our giveaway

Sound good?

0xEric@Depth

sure :)

Andrew (BSC.News)

Okay great

So to kick things off


1. Please tell us briefly about yourself and the Depth project, as well as the current environment and stage of the project.


0xEric@Depth

Hi everyone, my name is Eric. I have 8 years of working experience in the communication and Internet industry, and in 2018 I started my career in the crypto field. I once served as the BD and marketing guy in a Dapp team as well as a crypto hedge fund. Now I am responsible for the marketing and operations in the Depth team.

Depth was launched on Feb 28th 2021, it is a secure and efficient stable assets management protocol based on HECO. Depth has been running smoothly on HECO for nearly 10 months.

We come to BSC on 29th 2021, which is a great step for us and our users. From the very beginning, we have actively collaborated with outstanding projects and wallets on BSC, such as Alpaca, Venus,Coin98, etc.

To our surprised, also many good projects come to us willingly for cooperation. This is very gratifying to us, and it proves that our operations on HECO have been unanimously recognized in the industry. This also makes us more confident to serve more users on BSC.

Andrew (BSC.News)

Okay nice! Thank you for that overview of Depth


2. Can you tell us in detail about your products and historical performance so far since launch?


0xEric@Depth

sure

Here are basically what you can do on Depth:

1.Depth Stablecoin Swap-Low Fees,Low Slippage

If you swap 1000 BUSD to USDT, you can get 999.71USDT, nearly lossless experience. And by establishing partnership with other projects like iSwap, we can support BUSD/USDT on BSC to bridge to HECO in a very low fees & Slippage.

That means you will get big arbitrage opportunities between two chains.

This is how you can swap stablecoins on Depth.

2.Depth Pools For Miners

Depth supports the liquidity mining of BDEP/BNB on PancakeSwap through which users can earn BDEP rewards by staking BDEP/BNB LP Token in the LP Farms.

After nearly a month of operation,  Depth keeps a leading APR in the stablecoin depositing field on both BSC and HECO. As you can see the APR for stablecoin swap pool is around 15.14% now. And the APR for BDEP-BNB is around 111.75%

3.Vaults for Stablecoins and BNB

Users can earn competitive BDEP rewards just by staking single stablecoin or BNB to the vault pools.

Now we have connected with several leading protocols on BSC including Venus, CoinWind, Alpaca.

The APR for stablecoin is around 11-16%. Always leads the market.

For BNB it's much higher.

4.DAO

We are actively deploying DAO on BSC, and we will meet with you soon.

On HECO, staking DEPs to DAO,users can share all Depth' earnings in HUSD.

Yes, ALL earnings!!!!

And more than 5 million HUSD has been distributed to Depth DAO on HECO, for all DEP token stakers.

And of course the most important thing for DAO is governance and voting.

Now HECO Depth is discussing whether should Depth protocol use its revenue to buy DEP token back and burn. That's interesting and let's see what will people vote later.

5.Decentralized OTC and DEX

These two are also projects that we successfully launched on HECO, which can provide services for many customers with exchange needs.

We also plan to bring this feature to BSC and share its convenience with BSC users.

And that's our product line and history ~👌

Andrew (BSC.News)

Wonderful! Tons of exciting work coming out of Depth I see


3. How  has  the  response  from  the  market  been  so  far  since  launch on HECO and BSC?  (turnover, user base, etc)


0xEric@Depth

Since launch on HECO, The highest TVL reached 800 Million USD. APR has been stable at the forefront of HECO's similar pools.

Besides, as mentioned above, Depth shares all platform earnings with users. According to previous data, Depth DAO is sharing over 3.5 million USD rewards with DEP holders each week in HUSD.

Now, Depth's TVL is around $47 million and half of them are from BSC. As  for  users, Depth  attaches  great  importance  to  community  communication.

It  has been  almost  10 months  since  the  beta & formal launch  time,  and  we  have  communicated  with community  members  daily  about  the  obstacles  we  encountered,  achievements  we made, and plans for future products and services.

It's worth mentioning that BXH.com (BSC) launched a BDEP/BUSD pool just last week, the APR is still amazing now. We are keeping exploring more partners on BSC.

Andrew (BSC.News)

Okay nice, I love that you guys are so cooperative with other projects and keep the integrity of decentralization

0xEric@Depth

Yes, more will be revealed.

Andrew (BSC.News)


4. What does your average user/investor look like? How do you attract users?


0xEric@Depth

There  are  mainly  two  types  of  people  who  use & care about  Depth: product users  and  community members.

Users hope to swap stablecoins with low slippage and investors hope to earn high yield and rewards  by  depositing  stablecoins or BNB.

Community members hodl DEP token to governance the protocol and always share their ideas.

Depth team has fulfilled their needs through following approaches.

In fact, many media on BSC are paying attention to us, which attracts more users to our community. For example, BSC NEWS and BSC Daily have reported on Depth.

In addition, many BSC platforms have also made an objective evaluation of us. The following diagrams can truly reflect the value of Depth.

0xEric@Depth

And so does BSC News

So we are happy to share more here :) 👌

Andrew (BSC.News)

Yes indeed :)

So to touch back more about the Depth Tokem


5. Could you give us some info on the Depth Token?


0xEric@Depth

Of course.

The Depth token (also called DEP on HECO and BDEP on BSC) is the governance token of the Depth protocol, with a total amount of about 10 billion, to be issued in more than 10 years.

DEP and BDEP were released through Depth's liquidity mining started on Mar.1st, 2021 and Oct.29th,2021.

For BDEP token, the maximum supply will be 4 billion.

BSC BDEP Token Contract is:0x16f99577b259B069a2d1D166e70d349b11b1D325

It's available on Pancakeswap & BXH now.

And here is the BDEP Distribution Plan:

And a few days before this AMA, we have burnt 23M BDEP tokens, which means 43.5% BDEP token minted are permanently gone.

More BDEP will be burnt in the future.

And you may find more details about DEP tokens here

That's some basic info about DEP token.👌

Andrew (BSC.News)

Okay so with so much done...


6. What  is  the  vision  for  Depth?  What  are  the  team's  main  plans  for  the  second half of 2021 and next year?


0xEric@Depth

Depth hopes to build its ecosystem and community more convenient for users.

We really want  to  fulfill  all  kinds  of  users'  needs  to  increase  transaction  efficiency  and  reduce unnecessary costs, and makes yield farming APR more stable & higher.

In addition to continuously optimizing existing products, we will also use our experience to gradually deploy more products that users like to BSC, such as Decentralized OTC, DEX, and DAO Voting. Of course, we will continue to find opportunities to work with more partners on BSC.

Also, Depth team has completed the cross-chain solutions to BSC now, that's a quite meaningful step for us and our community members.

0xEric@Depth

You might see Depth operating on other public chains besides HECO and BSC in the future~👌

Andrew (BSC.News)

Okay awesome

So last but not least


7. What's the best way for us to stay in touch with your project?


0xEric@Depth

We have multiple ways and platforms, you are welcome to visit our sites and use our product & services.

Official Website

Telegram CN:

TelegramENG:

Discord:

Twitter

Tutorial:

Youtube/Video tutorial:

thanks

Andrew (BSC.News)

Wonderful! Make sure to go and check out Depth everyone!


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