Revault AMA Transcript

"Find and deposit funds in the best performing vaults in market at any given time"

By
BSCNews
on
October 12, 2021
Category:
AMA

Andrew (BSC.News)

Hi everyone and welcome to the AMA with Revault Network! Today we have the CPO and Co-Founder @OhadGalorKimchi Joining us today

Ohad Galor Kimchi

Hello @DrewtheAce! thanks for having us here today 🙂

Andrew (BSC.News)

Yeah! Its great to have you here

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 with you?

Ohad Galor Kimchi

sounds good!

Andrew (BSC.News)

So to start things off


1. Please introduce yourself and the team behind Revault.


My name is Ohad Galor Kimchi, I have 8 years of software development xp and 3 years with smart contracts. I am the Founder and former CEO of efrontier.io which is a crypto algotrade company trading over $150M daily volume and provides financial services to crypto projects and CEXs since 2017.

I believe DeFi is the future of the global economy and it is a matter of time until smart contracts will take over the exiting financial infrastructure. As such, I focus my efforts on creating a platform that will eventually enable everyone to enjoy the amazing financial innovations being invented in Defi nowadays. With me is the amazing team of Revault.

My name is Ohad Galor Kimchi, I have 8 years of software development xp and 3 years with smart contracts. I am the Founder and former CEO of efrontier.io which is a crypto algotrade company trading over $150M daily volume and provides financial services to crypto projects and CEXs since 2017.

I believe DeFi is the future of the global economy and it is a matter of time until smart contracts will take over the exiting financial infrastructure. As such, I focus my efforts on creating a platform that will eventually enable everyone to enjoy the amazing financial innovations being invented in Defi nowadays. With me is the amazing team of Revault.

Uriel Peled has co-founded revault with me, @urielpeled do you want to introduce yourself?

Andrew (BSC.News)

One sec, let me give Uriel speaking rights as well

Ohad Galor Kimchi

perfect 🙂

Uriel

Hi guys! nice to meet everyone

Andrew (BSC.News)

Alright Uriel the stage is yours

Uriel

and thanks Andrew for having us

so abit about myself, computer engineering background

co founded a startup company called Visualead in 2012 in the space of image recognition and computer vision

sold the company to Alibaba in 2017

co founded Orbs.com in 2017

we raised $100m for Orbs in a private token sell in 2017

now token is trading at around $1.xxB fully diluted market cap

I also co founded Israel's largest crypto hedge fund called Moment Capital managing $500M AUM, long shot big caps algo trading

and been working with Ohad for the last year on Revault!

Andrew (BSC.News)

That's amazing!

Definitely sounds like there is a ton of experience and knowledge between the two of you

So then let's talk about your most recent endeavor which is the Revault Network


2. What is Revault? And what is a Vault aggregator?


Ohad Galor Kimchi

To better understand what is Revault or vault aggregator, one must first understand the way we look at the Defi space. The DeFi APY food chain is built from layers.

The first layer is the lending\borrowing and swapping protocols that generate revenues to their liquidity providers.

The second one consists of the farming protocols that compensate you for staking the LP tokens you received from the first layer.

The third and most interesting in our belief, are the vault protocols, which are basically automated trading strategies deployed into a smart contract with a single goal in mind of maximizing the base assets yields. Each vault executes a different trading strategy.

We consider ourselves as the 4th layer, aggregating 3rd layer protocols while simplifying the interaction with them and automate users’ position 24/7 to always be on optimum.

Uriel

We basically want to solve two main pains:

1. Where should I put my money now!?

2. lets say I put my money in a vault, I don't want to continue needing to chase the market for better APYs and figure out if the vault is secure

So with Revault you can find the best APY for any asset at any given time

and Revault also babysits your position 24/7 and if there are better APYs out there, or if there are security alerts u should be aware of, Revault notifies you (through our Rebalance feature) that you should consider to just to a better or more secure vault

Back to u Andrew :)

Andrew (BSC.News)

Okay I see, so just to be clear. Revault is in a sense like the third layer of yield aggregators, however the vault that Revault provides is automated to move the LP tokens around various 3rd layer protocols for the optimum APY?

Ohad Galor Kimchi

No

Andrew (BSC.News)

Sorry haha, just trying to wrap my head around this

Ohad Galor Kimchi

we do not compete with other vaults

Andrew (BSC.News)

So there is no utilization of vaults outside of your protocol?

Ohad Galor Kimchi

we are just a layer that simplifies the usage of them 🙂

Andrew (BSC.News)

Ohhh I see

Uriel

we focus on discovering the best vaults in the market

and babysitting your position 24/7 and notifying u if u should move to a better APY vault or a better security vault

Andrew (BSC.News)

I understand now. Thank you for that clarification!

So my next question was actually about the APY Food Chain but as you have answered that amazingly already I think we should move on to the question after

Uriel

basically we hope to save u all the time of researching the defi market yourself, for hours, and keeping tabs on everything :)

Andrew (BSC.News)

Very neat

So moving onto question 4...


4. What is $REVA and how is it used on your platform


Ohad Galor Kimchi

REVA is the fuel of the revault protocol. it grants its stakers governance privileges as voting on proposals, and creating them. It also grants its stakers a portion of the protocol profits.

On top of expanding the protocol to support more vaults, assets, and blockchains, we will develop a reach set of protocol features and integrations with our partners that will be available only to REVA stakers.

Andrew (BSC.News)

Okay nice


5. Can you tell us more about how you will be raising initial liquidity?


Ohad Galor Kimchi

We had a presale of 1.25% of the total supply for 735 BNB

and tommorow we are having the ILO event where we will hopefully raise around $435,000 more

ALL of the funds raised in this rounds will be locked in Pancakeswap for 2 years

together with another 2.5% of the total supply

Andrew (BSC.News)

Okay and the 2 year period is for all who participate in the ILO

Ohad Galor Kimchi

after 2 years, the LP tokens will be released to revault’s DAO treasury

the community will decide whet to do with the funds (maybe lock for some more time :P)

Andrew (BSC.News)

Okay nice

Ohad Galor Kimchi

you referring the the participants lock?

Andrew (BSC.News)

Yes

Ohad Galor Kimchi

they will get the REVA in 3 tranches, 1/3 immediately, another 1\3 after 30 days, and the last 1\3 after 60 days (same as presale participants)

Andrew (BSC.News)

Ohhh I see I see

So this next topic is one I am pretty interested in as many platforms today have become more and more corssw-chain


6. By being a cross-chain platform? Would you users be exposed to yields on different blockchains?


Ohad Galor Kimchi

the simple and short answer is, Yes they will.

Diving in a bit, to begin with the protocol service will be provided for each blockchain as stand alone (like beefy, 1inch or sushi), Meaning you will be able to select a chain and get the best performing vaults on that chain.

Later down the road, with enough reserves, it will be possible to interconnect same asset vaults to perform as bridges, which eventually allow cross-chain rebalance ( as @urielpeled mentined earlier rebalance is the action of moving your funds from vault to vault).

Uriel

So the vision is that yes

You could come for example wjth usdc

And we will actually notify u there is a better APY on BSC than Ethereum

And deploy you funds there

Giving users access to the entire defi space APYs and security

And babysitting their positions 24/7

If this works well (and it will) I hope there won’t be a reason to hold funds in other places 😁

Andrew (BSC.News)

Awesome! That was exactly the answer I was looking forward to hearing

Thanks guys

So I wanted to circle back to this so that you had a chance to explain in a more straight forward way


7. Why should users use Revault rather than for example Beefy Finance or AutoFarm?


Ohad Galor Kimchi

First of all, those are great projects and I'm personally using them. But, I constantly move my funds when one overcome the other in terms of APY. Their APY is changing so fast because of TVL and BIFI\AUTO token price fluctuations. This is the first reason it is better to use them through revault.

Notice it is not a choice between revault and Autofarm/Beefy, its using Autofarm/Beefy via revault.

On top of that, another reason might be the added REVA rewards we provide on top of the best vault. Using them through Revault will get you the highest APY available at any given time + REVA rewards.

Uriel

It’s abit like asking what’s better to use Uniswap or Sushi or 1inch

1inch gives u access to the best swap possible in the market

So no need to go directly to Sushi or do your own research

We do the same for vaults

No need to go directly to the vault level projects

U can come to revault, we compare all the vaults for u, choose the best one at any given time

And deploy your funds to it

Revault uses Auto and Bunny and all the projects below it

Andrew (BSC.News)

Yeah I think that this is a great point that you bring up

Especially for those who might be confused still

Ohad Galor Kimchi

haha DeFi is confusing 🙂

Andrew (BSC.News)

When is Revault set to launch? Im already getting excited about it

Ohad Galor Kimchi

we try to resolve that problem as well 😛

24h after the ILO is finished! on the 14th

Andrew (BSC.News)

Okay nice!


8. If your platform audited? What security measures have you taken to ensure that your user’s funds are safe?


Ohad Galor Kimchi

Yes, our platform has been audited by CertiK and Paladin, and I want to take this opportunity to thank these 2 great auditing firms for the super professional work they’ve done. Since our innovative architecture was built from scratch, it was more of a challenge to complete the audits, and it created a situation where we work closely with those incredible auditors on a daily basis. You can find a blogpost we published about it on our Medium.

Paladin's audit can be found on their website, while Certik’s final report will be out in the next few days

For extra security measures, first we are launching our bug-bounty program with immunifi, which proved to be incredibly efficient (what’s better than a pentest right?)

We have also partnered with valid.network, which is a super strong security firm to help us not only defend our platform, but to provide real time security insights on the vaults for our users

Andrew (BSC.News)

Yeah seems like you guys are for sure taking the right steps to ensure that your project is safe to use

Especially with the Bug Bounty program

When we spoke to Immunifi during our Security Summit, they had great plans to make DeFi a more user-friendly space

Glad to see that resonating with Revault as well

Ohad Galor Kimchi

Immunifi indeed are incredible, security is one of the biggest challenges and obstacles for DeFi to become globally adopted. I'm happy bright people like Immunifi team are on that 🙂

Andrew (BSC.News)

So last but not least


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


Uriel

Hi sure!

We recently announced our incubation at Defi.org a blockchain accelerator by Binance, moonstake and orbs. The best part of being a member of these kind of projects' network is the fact they introduce amazing collaboration opportunities every other day. So all I can say at this point is that we are currently talking with several big names in the industry regarding them allocating funds as TVL at the platform. For the specifics I invite everyone to follow us on our channels and be the first to know

Andrew (BSC.News)

Exciting!

Could you provide us with your social media links so that our community here can go check it out?

Ohad Galor Kimchi

sure!

Website:

Telegram:

Twitter:

Medium:

Discord:

Andrew (BSC.News)

Alright everyone make sure to go and check out Revault Network for their new and innovative Revault that will find the best vault strategies to optimize your yields!


Tags:
BSCNews

Text Link

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.