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rASKO AMA Recap with Crypto Royals

28 July 2021

Our Co-Founders Felipe De Anda and Victor Yampolsky joined Crypto Royals’ Telegram community to answer questions regarding rASKO and the ASKO projects. They expressed their content with the session and the warm welcome they received from the community.

The AMA was divided into three parts:

  1. Introduction Questions
  2. Twitter Questions
  3. Live Questions

Q1. Could you please introduce yourselves and tell us about your background?

Felipe:
My name is Felipe De Anda, Co-Founder of ASKO and I’ve been in the blockchain space for a little over one year. Prior to working in blockchain, I had experience working in accounting.

Victor:
This is Victor, I am a co-founder of ASKO and rASKO on BSC. I come from a project management background in the infrastructure and tech industries. Several years now in the blockchain/DeFi space and loving it, most exciting and challenging experience.

Q2. Please tell the community about ASKO in detail?

Victor:
ASKO started its development a little over one year ago. One of the main problems ASKO solves is to offer a wide range of promising crypto assets such as midcaps, so investors could borrow and lend while being able to manage their risk profile in an effective way while earning substantial APY and ROI.  Midcaps and Microcaps today are very poorly represented in the borrow and lend sector as an asset class due to the inability of other platforms to manage the associated risks with these asset classes.  As you can imagine this is a huge market that has not been addressed. rASKO Money Markets will change all that.

So ASKO DAO is the Governance organization and is being launched now on Polygon while rASKO is the borrow and lend money market being launched on BSC.   Other money markets will follow as well on other blockchains, such as Polygon and Ethereum.

Q3. What do you think is ASKO advantage over its competitors?

Victor:
rASKO borrow and lend platform, as I mentioned briefly in the previous answer, is able to offer lenders a multitier risk management system, which prevents lenders from potentially losing all their capital in a liquidation event.   There is a multitier risk management system on the platform for all assets listed on ASKOLend and automated liquidation features in case of loan delinquency by borrowers. Plus, users of the platform can also create pools with their risk tokens on rASKO Swap which is part of the rASKO Money Market and farm rASKO rewards.   Also, borrowers receive rewards for borrowing and are able to offset their Loan APR costs. So there is a great deal of functionality, ability to earn, manage risk for lenders and borrow and lend multiple assets across the platform.

Q4. Could you please tell us about $rASKO, its total supply, its features?

rASKO is the utility token for all money markets created by ASKO DAO. So the first money market is on BSC, rASKO fixed supply is 1 billion BEP20 rASKO tokens.  The token is deflationary as it offers both token burns which are done monthly and also buybacks using part of the money market fees, which ensure continue price support.    rASKO on BSC token is a utility token and provides the money market users the ability to earn rewards, swap, farm and of course, use rASKO for borrowing and lending as any other crypto asset class on the ASKOLend platform, so the utility for rASKO highly diverse and we expect to be very profitable for rASKO token holders.

Twitter Questions

  • What value of economic benefits will ASKO bring to the users of the ASKO Finance platform? Attracting Users in the first stage of launching the ecosystem is very important, so with a new direction and model from ASKO, how will you do for users to trust and use?

Victor:
rASKO provides benefits to both borrowers and lenders, due to their unprecedented ability to earn rewards and use their risk tokens, which are ASKOLend accounting units representing assets that are locked to secure the loan and assets lent, that can be used to swap across a range of assets listed on the platform, and farm rewards. rASKO creates a self-regenerative and self-sustaining Money Market, it helps to create a highly versatile and sustainable DeFi Market which in turn allows borrowers to more flexibility to work with a variety of crypto assets while offsetting their borrowing costs and lenders to increase their ROI on capital. The ASKOlend platform is audited by Certik and has undergone a very rigorous testing process. Investors can be sure that rASKO money markets are developed to the highest standard of security.

  • Listing on the right exchanges especially major exchanges helps to increase the token price and is a form of Marketing. So Where can we buy $rASKO tokens and what plans do you have for listing on major exchanges (DEX and CEX?)

Victor:
ASKO/rASKO is partnering with ApeSwap to bring the rASKO token to the market, we also have plans to list rASKO on exchanges such as Gate.io and KuCoin.   Currently the ASKO DAO token which is ASKO(ERC20) that has been trading for over 1 year on the markets is listed on exchanges such as MXC, Hoo, Uniswap, Bilaxy and others. rASKO we plan to have listed on leading CEXs, shortly after the IDO offering.

  • As far as I know, Asko_Finance introduced 2 tokens which are:Asko  & rAsko. Can you please explain what is the purpose of these two tokens? How are they used and what role do they play in the Asko_Finance platform? Asko_Finance users need to hold both tokens?

Victor:
I think this is well explained in my previous answers but just to reiterate. ASKO (erc20) is the Governance and Management token driving the ASKO DAO, which develops, governs, and manages all rASKO Money Markets. While rASKO token is the utility token for all rASKO Money Markets, as explained previously. So ASKO DAO will govern all Money Markets and is being launched on Polygon while rASKO will serve to enhance the money markets and provide unprecedented utility for borrow and lending market.

  • I see rASKO has a unique borrowing technique which is “ASKOLend”. Can you tell me more details about it? And, what sets ASKOLend apart from other Lending/Lending protocols? And what kind of security system is ASKOLend also audited?

Victor:
Okay, as I previously mentioned briefly, ASKOLend implements a dual-tier risk management system, so there are low risk and high-risk tiers, this simply means the lender can choose how they structure their lending risk. The high-risk tier would be the one that gets liquidated first in case of a liquidation even and for that high-risk tier receives a higher APR, while the low-risk tier would only be subject to liquidation after the high-risk tier and receives a lower APR from the average rate.  But we have taken it one step further and have also introduced liquidation bots which in turn afford additional protection to lenders, so even during periods of high market volatility Lenders would risk losing all their capital due to the inability of borrowers to service their loans. This took us over a year to design and build, there is nothing else like this on the market, and that is why we can list a very diverse range of crypto assets on the ASKOLend platform and still offer investors that their capital is secure, while they are able to take advantage of the multiple opportunities to earn APR, farm yield, trade assets across the board on the rASKO Money market, given an incredible range of flexibility audited by Certik.

  • Blockchain technology is being explored in other environments, where immutability and data security are crucial. How does ASKO maintain and protect its platform? Can ASKO ensure data security for its users?

Well first of all we use TWAP for example as price oracle, which serves to protect the platform from being exploited by malicious users, as of course, you have seen the exploitation,  our code is gone through with a fine-tooth comb, then hard tested internally and then we invite experts and ask them to try and penetrate the platform, in addition, we do audits and also bug bounties which we plan to run soon so that anyone wishing to hack or penetrate the platform can try to do so.  Our community knows we have spent a great deal of time addressing security and that is why we have taken close to 1 year to bring the platform to the market and do a public launch.  By the way thanks to our community for their trust, support and patience, you guys are awesome!

Live Questions

  • We are witness of more than 100 daily BSC projects. A lot of traffic is here. Investors are confused which we need to invest. So, tell us how your project is different and unique from others?

Victor:
ASKO/rASKO is not a money grab project just hyping a token.  We invested a lot of time and money in developing what we believe are the Money Markets of the future.   You can imagine it is not an easy task as we automate pretty much 90% of all functionality the market platform serves as the asset manager, risk manager and liquidity manager, enhances earning potential and provides a platform that is intuitive and easy to use.   Our token has a real utility which will only grow over time, so for anyone looking to invest in a self-sustaining DeFi market, we believe we have one of the best offerings today in the Market.   And many investors recognize that and have supported ASKO over the last months in our efforts and our development.

  • How can we know for sure that early adopters and seed phase investors cannot dump token on us if we invest now?

Felipe:
To prevent this issue we’ve placed a vesting schedule for rASKO token Presale Buyers that is further described in the link below.

https://presale.asko.finance/
  • Do you have a Token Burning plan to increase Token value and attract Investors to invest?

Felipe:
Token burns and buybacks are planned, a portion of the Money Market fees will go to buybacks of rASKO and rASKO will be burnt in equivalent to the fees paid to ASKO DAO on Polygon.

  • Can you briefly describe your PARTNERSHIP so far and upcoming partnerships?

Victor:
Yes, we are working with ApeSwap to create a unique partnership, where the listed assets on their swap will also have access to list their assets on rASKO Money Markets, further driving utility and use case for their tokens, while receiving APR, yield, rewards in multiple tokens and each asset listed on rASKO Money Market can be swapped for another listed asset by using risk tokens and can be traded or used to farm for additional yields.  While borrowers receive an offset on their borrowing costs, by receiving rewards each time they borrow. All this can be done securely and safely.  So, we are in touch with protocols that wish to list their assets and with our cooperation with ApeSwap range of asset classes listing on our platform will be highly diverse right from the start.   We also anticipate rapid growth in TVL on ASKOLend and extensive use by traders and investors alike.

  • At present social media is playing a vital rule for all the business field. Do you have any important social media links to follow announcement of your projects? If you have, will you show us?

Felipe:

Website: https://asko.finance/

Telegram: https://t.me/Askomain

Twitter: https://twitter.com/asko_official

Medium: https://medium.com/@AskoFinance

Discord: https://discord.com/invite/rYXC7KZHVD

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