RSS news feed support for the ASKO token is now available for Crypto.com users! ASKO fans and Crypto.com users can […]
Our team was pleased to introduce rASKO to the CryptoScape Community. Co-Founders Felipe De Anda and Victor Yampolsky answered a few questions about the project!
Q1. Please introduce yourself and your team to our community and tell your crypto story?
Victor: This is Victor I am a co-founder of ASKO and rASKO on BSC. I come from an extensive project management background in infrastructure and tech industries. Several years now in the blockchain/DeFi space and loving it, most exciting and challenging experience.
My crypto story, started when I began working as business development advisor for companies entering the blockchain space and moving from hardware tech to the blockchain.
Felipe: My name is Felipe I am also one of the co-founder of ASKO and rASKO on BSC. I come from a military background and prior to crypto I spent time working in the finance sector, I joined the crypto scene in 2017 when I needed a method to easily send money. From that day forward I become interested in blockchain and new that I wanted to become part of the space.
Q2. What’s Asko all about, explain it along with the use case and vision?
Victor: Well, ASKO is a borrow and lend protocol which focuses on providing a non — custodial platform for a diverse range of crypto assets, while establishing a self sustaining and regenerative money market. All participants in the market have the ability to borrow and lend various small cap, mid cap and blue-chip crypto assets, while also being able to swap, farm and manage their crypto portfolio strategies, earnings and risks. ASKO allows to list over 70 assets on its platform, contrary to most platforms which offer only a few assets to borrow and lend.
Q3. Please elaborate your tokenomics and justify the distribution and mention about locking of liquidity?
Victor: Sure, so first of all we have a token which called ASKO (ERC20) this token has been publicly listed and traded since July of 2020, ASKO is the Governance token and drives the ASKO DAO which is being launched this month on Polygon. Secondly, we have created a utility token which drives the money market and this token is called rASKO on BSC (BEP20), which is for the first money market that we are launching on Binance Smart Chain.
rASKO has a fixed supply of 1billion tokens, which will be distributed to the market in an organic way, driven by supply and demand. It is also deflationary and is used for as an asset that can be borrowed or lent, a rewards token that can be farmed and a token that off-sets borrowers APR costs while enhancing lender APR. rASKO will be burnt monthly and part of the money market fees will always go to also buy back rASKO to sustain the borrower’s rewards pools and farming rewards.
Q4. What are your plans on partnerships with some of established project over BSC for farming and all other stuffs?
Victor: Well, we are in process of establishing partnerships with ApeSwap, clearly our platforms have a great deal of synergies and we believe this could lead to a very rapid adoption of our platform, we are also establishing partnerships with protocols that are looking to be active participants by offering their crypto asset and further providing farming rewards as well. It is a great way for any crypto protocol to enhance the utility to their token and drive growth of token holders.
Follow up: So soon can we see a staking pool with rASKO on ApeSwap?
Victor: Yeah after our IDO is completed, currently we have just recently started our Presale for rASKO on BSC which will then be followed by IDO on a tier 1 launchpad.
Q5. How will you assure the security of your product and also that you won’t abandon it after a dump (if it arises)?
Victor: Good question, first regarding security we perform extensive hard tests on the platform and we also invite devs from protocols that are wishing to use the platform to participate in the restricted Beta Launch, where they have opportunity to test the platform as they wish and try and penetrate. rASKO Money Markets will continue to be developed on various blockchains, our plans after BSC is to go on Polygon, then Ethereum and other blockchains. The ASKO DAO is community run and will Govern and Manage the rASKO Money Markets, this ensures that all money markets will always have support and on going development as the DAO participants have a vested interest in the success of each rASKO Money Market, as 25% of all fees generated by the money market will go to the ASKO DAO, this ensures that all legacy and development is being supported at all time for all rASKO Money Markets. Please note that ASKOLend the core of the rASKO money markets has already been audited by Certik, you are welcome to review the report on the Certik website.
Q1. Asko Finance have a very good DAO system (Asko DAO) that community members can vote on important project decisions. However, how many $ASKO token do I need to hold to participate and what kind of project decisions can we vote on? @Aravind75154890
Victor: Okay good question, you need to be an ASKO (ERC20) holder to participate in the voting, the number of tokens required for this will be determined by the community, as it is a community run DAO. The voting would in effect be directly related to the Governance and Management of rASKO Money Markets.
Q2. As I noticed you have some amazing partnerships out of them the most notable one is Quai Dao. So what could we expect from this collaboration and how would it benefit your project? @Namanbhalla926
Victor: Good question, so QUAI DAO is an accelerator and a diversified DeFi holding which owns, develops its own protocols as well. So QUAI will provide the ability to help vet projects that list on rASKO Money Markets, provide a DeFi Gateway to BTC markets that wish to onboard their capital to rASKO Money Markets and also QUAI will be listed as an asset offered on the rASKO markets. QUAI also assists ASKO/rASKO with go-to market services and supports the development of rASKO Money Markets. So we have a lot of synergies with QUAI and view this as a long term partnership, beneficial for both protocols.
Q3. Elaborate about rASKO money market and how it differs from other borrowing and lending platforms and what are the advantages given to lenders and what’s your take on flash loans @Abc97341745
Victor: sure, good question. As I stated previously rASKO Money Markets are focused on being non-custodial and allowing the markets to develop organically, while offering an automated way for market participants to manage risk across a broad range of crypto assets for borrowing and lending. So this really sets rASKO apart, we have spent close to 1 year developing platform which is very extensive from stand point of functionality, capital security and utility. rASKO money markets are also self sustaining and will be driven by supply and demand, in an organic way within custodial intervention, this will occur over time as the markets develop and create sufficient volume to be fully autonomous and self-sustaining. Lenders have the advantage of knowing that the risk management tools necessary to protect their capital and make it a rewarding experience, are implemented on the rASKO borrow and lend platform, further Lender and Borrowers alike have the ability to earn APR, Yield and rewards, which provides additional off-set for Lender risks and for Borrower’s reduces their borrowing costs.
Q4. One of the DApps Asko’s working on at the moment is the AskoReserve, which was built for users to wrap any cryptocurrency with the XDai network, nonetheless, how does AskoReserve keep track of all the cryptocurrencies listed for the XDai network to wrap? @shadyaboabdo
Victor: ASKO Reserve is not currently being developed this is something that will come later, our primary focus are the rASKO Money Markets and the ASKO DAO. You are welcome to review the updated litepaper that is available on our site.
Victor: Our Presale is currently open and will continue to be open until the 20th of August. The Presale offers up to 40% bonus on rASKO which will be distributed after the IDO as per a defined vesting schedule. rASKO gives token holders the ability to earn APR, yields and rewards, so the rASKO Money Market is designed in such a way the it rewards our token holders and allows them continue earning over the long term .. regarding NFTs yes we are partnering with a QUAI developed project called MeDIA eYe NFT Portal which will be one of the largest NFT platforms to come to the market in 2021, this will soon be released by QUAI and we look to use NFTs to create unique rewards programs and offer people ASKO and rASKO NFT collectibles.. this is another benefit of our partnership with QUAI and their soon be launched platform QUAI Invest.
Q1. As you know Covid-19 has a big impact on the Crypto Market, So how can your team maintain your project and how is the team working during this pandemic?
Victor: We are all working remotely and our team is well adapted, to the current work environment caused by Covid-19, in fact pretty much all of our development has been done during the Covid. So yes we are well adapted to working remotely and being very effective in doing so.
Q2. Can you tell us about pre-sale? Tell me when and where to start? If possible, share your pre-sale link so we can easily purchase?
Victor: Presale link has been shared in CryptoScape community so you can follow the link that will take you to our Presale page, be sure to Whitelist in order to get your rASKO bonus.
Q3. Which one of these aspects is important for you?
1-Increasing Token Price & Value
2-Empowering Platform Development
3-Building Community Trust
4-Expanding Partnership Globally
In what order?
Victor: All these aspects are important and after 25 years in project management and business development can tell you that all these key metrics and business development fundamentals have to be balanced and run in parallel, as these are all interconnected and important to ensure success of the business.
Q4. What is your strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally? What services do you provide to the community?
Victor: ASKO already has a strong and very supportive community that has supported us from the start, we plan to build on that to grow the community further and again provide our community direct participation in Governance and development of the rASKO Money Markets, as we expand cross chain. So our community will grow even stronger as they will be united through their participation in the ASKO DAO.
Q5. While you build your project, do you take into account community feedbacks and demands?
Victor: Yes always, and our community is very helpful, often providing valuable advice, we have many people in our community with business and crypto experience, so we often get valuable advice and assistance from our community members.
Q6. I read that to bet on Asko DAO, ASKO ERC-20 holders need to un-apply and link their ERC-20 ASKO to ASKO on Polygon (Matic). But how can we do this? What is the bridge relationship between both layers? What is the purpose of this action, how does it benefit?
Felipe: ASKO will be bridged to Polygon (Matic) where ASKO token holders will be able to collect fees and vote on the DAO. The DAO is currently in the final stages of development and will be deployed shortly after.
Q7. What is your token advantage that can convince me to change from my favorite token?
Victor: rASKO token, enhances the Money Market rewards and and earnings and it offers utility for driving the money market growth users and token holders. It also acts as an asset that can be borrowed and lent or used as collateral to borrow and lend other assets. Plus rASKO is deflationary. So not many tokens can offer such token metrics, which are sustainable and are driven by underlying revenues of a market with the potential that rASKO Money Markets have.
Q8. Do you have a Token Burning plan to increase Token value and attract Investors to invest?
Felipe: 75% of all fees generated from the platform will be used for rASKO buy backs and operating expenses. 25% of all fees generated on rASKO Money Market, and distributed to the DAO, will cause equivalent in rASKO tokens to be burnt.
Q. What are the privileges you offer for investors and what are their prime role in the governance of ASKO DAO ?
Victor: Investors that acquire ASKO to participate in governance, will of course be able to get involved directly in future development of rASKO Money Markets, investors prime role in governance would be to participate at the level where capita allocation, development strategies are determined for future rASKO Money Markets and other dApps which ASKO develops and builds. This is a formative period for ASKO Governance and so they can also participate in helping the governance structure evolve.
Our team was pleased with this AMA and would love to join the CryptoScape community in the future!
RSS news feed support for the ASKO token is now available for Crypto.com users! ASKO fans and Crypto.com users can […]
After completing a highly successful sell-out IDO offering of rASKO, along with the new trading listing on ApeSwap, there is now […]
The rASKO IDO offering on DxSale was a massive success. We are excited to share that the IDO offering on […]