On December 28th, the Marketing Lead of Symbiosis Finance, Diana Kovaleva, joined a live Ask Me Anything session on the official OKC Telegram channel and answered questions from the OKC team.
The purpose of the event was to introduce Symbiosis Finance to the OKC Community.
The following is a recap of the AMA.
Why do we need Symbiosis? What problems is it solving?
Diana: Through the invention of blockchain technology, we can finally send money across borders, instantaneously, and almost for free. But there’s one obvious invention lacking. Making sure that all these cryptocurrencies can flow into each other. What if you are purchasing a good and only have Ethereum while the seller only accepts Solana? Now you have to go to a centralized exchange, open an account that can take days, and give up all your privacy. This was not the idea of cryptocurrencies.
That’s how we came up with Symbiosis. A solution to a problem that every investor will stumble upon. We make sure that you don’t have to worry about cryptocurrencies you have never heard about. No fragmentation, everything will be liquid and interchangeable.
We have seen the market growing at an exponential rate. And we believe this is only the beginning. We are now well-positioned to become the leader in providing liquidity across all blockchains.
What is the utility of the $SIS token?
Diana: The SIS protocol needs a token to reward and secure the network of Symbiosis. We call this network the relayers network as it relays information over different blockchains. Each node that runs the Symbiosis protocol receives $SIS tokens in return and helps govern the Symbiosis DAO and DAO treasure. The token is deployed on the Ethereum blockchain.
What are the benefits of using Symbiosis?
Diana: Users gain several benefits when using the Symbiosis protocol:
● Fully decentralized: normally you have to rely on a centralized exchange in
order to swap coins from different blockchains. Sending your crypto to a centralized exchange comes with different risks such as giving up your privacy and custody.
● Easy to use: it shouldn’t be hard to swap cryptocurrencies from different exchanges. That’s why the Symbiosis protocol has a very elegant way of solving this problem by simply connecting your wallet. No additional wallets or extra steps are necessary.
● Limitless cross-chain liquidity: the Symbios protocol plugs into already existing liquidity pools and uses it to swap all possible token pairs across
different chains. By doing so it tries to achieve the best price with low slippage.
Could you tell us a bit more about the milestones you have achieved and the future roadmap?
Diana: We don’t want to over-rush things, that’s why we first build and run our systems on many different tenets. You only got one change when using real money. The Symbiosis protocol is already operational on Ethereum, Avalance, Binance Smart Chain, HECO, OKC, and Polygon. We got a lot of feedback to finetune the protocol was translated into a spectacular IDO. So far the $SIS token is listed on both OKEX and ByBit. This is of course only the beginning.
We first need to further finetune the protocol so it becomes absolute censorship-resistant and can handle the burden of limitless cross-chain swaps. Next, we are preparing LP farming. As always we announce new features on our social media channels.
So who is building this? Could you tell us a bit more about the team?
Diana: Will Kamalov is our CEO with a background in blockchain technology. Before founding Symbiosis he was a managing partner at SDT group where he launched several blockchain businesses. He also participated and consulted in various DLT projects on a governmental level. It was through working in this sector that he saw this opportunity.
Alex Lushnikov is our CTO and has over 5 years of experience in the crypto industry. He also consulted on various successful projects. Before that, he was also head of engineering at the SDT group.
Nick Avramow is our CMO and a real blockchain addict. Before he joined forces with Symbiosis he led a marketing team of the instant swap exchange ChangeNOW.io. He also consulted in a German exchange called trustody.io and helped shape the early marketing funnels of a Swiss-based exchange called Aximetria.com. You could say he understands the market.
I’m a marketing leader who is responsible for the visual representation of Symbiosis Finance and runs the day-to-day communications.
Where can members find out more about Symbiosis Finance?
Diana: Join The Symbiosis community to find out launch dates and updates first!
Twitter: https://twitter.com/symbiosis_fi Telegram: https://t.me/symbiosis_finance Medium: https://medium.com/symbiosis-fi Discord: https://discord.gg/symbiosis Publish0x: https://www.publish0x.com/symbiosis-finance-blog More info soon on https://symbiosis.finance/
