Thank you to everyone who joined AMA Blockelite x DeHive on 9th April at 10:00 AM UTC I 05:00 PM (UTC+7). Here is the recap for those who missed this AMA.
Our special guest today is Sergey Onyshchenko – CEO of DeHive, Pasha Bergman – CBDO of DeHive
Segment 1: Introduction about DeHive and Sergey Onyshchenko – CEO of DeHive, Pasha Bergman – CBDO of DeHive
Q1: Who is the CEO?
Sergey Onyshchenko – CEO of DeHive: well, it’s me 😁 My name is Sergey Onyshchenko and I am a founder and CEO of DeHive – DeFi protocol. I am a real blockchain geek and DeFi admirer
I’ve started my way in crypto in 2016. Together with my fellows we were so into this technology and the general idea of data decentralization and that’s where we decided to set up our blockchain development company Blaize.
Q2: Who builds DeHive and what is Blaize?
Sergey Onyshchenko – CEO of DeHive: DeHive is developed and maintained by Blaize – experienced team of devs with full knowledge of the market. From head to toe. Since we are delivering solutions for such partners as Akropolis, Solana, Remme, Breaker, Celo, Zokyo and many more.
We actually prepared an article about clue team members behind DeHive Finance:
The idea of developing our own in-house project has been crossing my mind for a while. And now we are here with DeHive. Gathering the right knowledge of market, financial, marketing and development parts.
Q3: What users can get from DeHive project?
Sergey Onyshchenko – CEO of DeHive: DeHive will provide its users with an economically sound and justified index of the top DeFi assets.
Thus, the user will be able to get the picture of DeFi sector development and assess the market health in general. Also in contrast to the centralized market tools, in DeHive users will benefit from liquidity mining and yield farming and get an additional profit.
Q4: What are the advantages of your product (what’s new?)
Sergey Onyshchenko – CEO of DeHive: Also good one! First of all, its decentralization, so the user is completely in control of his basket.
Also, there is no high risk operations like futures trading, so risk is tend to zero.
In DeHive you have a balanced basket that is market regulated and economically sound, so single token dump will not trigger such great losses as for futures.
And of course several bonuses in a form of liquidity mining, yield farming and (as its is planned in our pipeline) operations on different chains.
Blockelite Host: Can you talk about $DHV? What will users get if they hold $DHV tokens?
Sergey Onyshchenko – CEO of DeHive: We created DHV token to support protocol economy during such actions as: index redemption; in order to get yield; protocol governance; custom index issuing and more you can check in this piece about DeHive tokenomics
Blockelite Host: You have shared what I want to know, :)) pre-sale
Sergey Onyshchenko – CEO of DeHive: aaha sure, I can do it once again,
here is the pre-sale details https://medium.com/dehive/the-dhv-pre-sale-is-closed-congrats-to-all-dhv-early-adopters-3a4323a31b09
Q5: Are you planning to go cross chain?
Sergey Onyshchenko – CEO of DeHive: Yes, surely.
We plan to integrate to BSC in the Q4,2021 and Polkadot in the Q1, 2022. Moreover, we are currently thinking of implementing a cross-chain index as an alternative feature. This is an interesting idea and we will surely concentrate on it a bit later after fulfilling the strategic steps from or pipeline.
Segment 2: Twitter questions
Q1: I read on your website that one of the characteristics of your hive is that you provide a “Customizable cryptographic index”, but really I don’t know what are the features that I can program and which ones not?
Sergey Onyshchenko – CEO of DeHive: yes, DeHive platform will offer the creation of custom indexes.
The system works so that the platform allows you to collect and combine your own portfolio, convert it to the custom index and deliver it to the market through the DeHive platform.
In order to enable this feature, we implement DAO mechanism. The users will be able to propose their own set of cryptos for index. Then, DHV token holders will be able to vote for the set underlyings they prefer
Q2: I read that Dehive project dont have liquidity pool, so can you please tell us what is the use of $DHV token? What are your community possible to do with $DHV in your ecosystem ? What makes $DHV token important?
Sergey Onyshchenko – CEO of DeHive: [I have shared some features DHV have within the platform ecosystem, here I will proceed.]
Yes, we do not have and did not want to have liquidity pools because those solutions are prone to impermanent loss and other inconveniences. We chose to promote DHV token utility through other actions. The DHV token is needed for:
- Protocol economy support during index redemption;
- in order to get yield;
- Liquidity mining;
- Protocol governance;
- Custom index issuing;
- Support of protocol treasury.
A lot DHV tokens functions influence the amount of yield the user will generate, and the overall direction of the DeHive protocol.
Of course, holding the index is not the only option available within the protocol. In order to enable yield farming, the user needs to stake the DeHive Index along with a supporting amount of DHV tokens. The DHV deposit will be returned to the user together with the profit from the yield farming after the unstaking.
Q3: Most solid projects with token utility and good infrastructure but perform poorly because investors dumped after listing on the first exchange. How do you prevent early investors from dumping your tokens?
Sergey Onyshchenko – CEO of DeHive: True. This is an issue for many DeFi startups and I saw a lot of projects suffering from this. That is why, we have established 10 month linear vesting for all DHVs acquired during private, pre-sale and public sale rounds. Yes, we are aware that some may not be very pleased with that, yet this is a health economy practice that is needed to prevent token dumping.
Also, we enabled several tools within the protocol that will help to abstain token dumping, like DHV staking.
Q4 – What problems you guys trying to solve to make it easier for Crypto users? Please let us know how evolving the roadmap is right now. What will happen this year and in the future?
Sergey Onyshchenko – CEO of DeHive: Sure, according to our internal research, the current market lacks a fully decentralized index of crypto assets and high-performing DeFi tokens; the “Pooled” solutions are not secure enough as they are prone to impermanent loss and other risks due to arbitrage opportunities. DeHive strives to provide and economically justifies and market regulated index to miss this gap in the current DeFi space.
The roadmap is available via the link https://dehive.finance/roadmap. We are keeping up with the established deadline and currently are working on the MVP that start fully functioning in July. The first private MVP will be delivered within a few weeks.
Q5 – How will your “NFT Index” development be implemented and how will such index be able to capture the economical segments of popular NFT marketplaces to ensure greater profitability? Do you also have plans to develop your own NFT and what function will it have within your platform?
Sergey Onyshchenko – CEO of DeHive: Yeah, sure.
NFT is rocking right now and we are sure the tendency will strive for the future year as well. According to our roadmap, we plan to start the development of NFT index model at the mid-end of Q3, 2021.
Then, the world should see the MVP in Q4, 2021. Currently we are meeting all deadlines we have established in our pipeline, will do our best to keep up with everything in the future.
Segment 3: Live questions
Are #DEHIVE afraid that hackers are stalking and attacking your system?’
Sergey Onyshchenko – CEO of DeHive: hi, we provide a very severe security process.
FIrst of all, we provide CI/CD for security, so each feature implemented in smart contracts goes through several checks with security tools like Slither, Echidna, etc. We have a requirement for 100% unit test coverage for all features.
Also, we have an in-house team of experienced auditors which provide cross-check of newly developed features. And, last but not least, we have partnered with Zokyo, so our contracts will also pass an external security audit.
What is your biggest goal in your project? We would appreciate it if you could share with us any upcoming Updates?
Sergey Onyshchenko – CEO of DeHive: yeah/ sure thing. The most important priorities for us are: launch yield farming for indexes, complete integration of Binance chain to launch the cross-cahin indexes, NFT for index ownership
partners in every project play a huge role as backup and support at every start of a project and company, so my question is What role do your partners play in the ecosystem of DeHive and what benefits do they have for being a partner?
Pasha Bergman – CBDO of DeHive: The main advantages that we are expecting from partners is supporting DeHive for a long run.
Sergey Onyshchenko – CEO of DeHive: Each partner bring us networking and marketing opportunities that bring value for DeHive project and DHV in particular.
Also, deep technical partnerships is highly appreciated to integrate DeHive to more projects.
Right now we are partnering with Zokyo, Hapi, Peanut and YAgnostic.
We have Exnetwork Capital, Phoenix VC, Titans Ventures, LVT and DCI funds onboard
What tools has Dehive built to improve performance farming and bring the “honey”of passive income to users? What are the most optimal strategies for depositing the underlying funds in the yield farming protocols that Dehive provides?
Sergey Onyshchenko – CEO of DeHive: Currently, we are building infrastructure for “honey extraction”, it will include participations in different defi protocols, and similar to vaults. Strategies have been drafted and some of them will be implemented for Alpha release.
The name “DEHIVE” sounds good, but what comes to my mind first is bees. Can you tell me how the name DEHIVE is related to the purpose of your project?
Sergey Onyshchenko – CEO of DeHive: The “bee” thing and Hive have not came out of nothing 😁it has been proven that hexagons get the most optimal coverage of surfaces and volumes, and in DeHive we strive to create optimally filled indexes, and hexagons are associated with bees, which are associated with the hive, which displays our index
What methods does #DEHIVE plan to control the distribution volume and supply-demand relationship and ensure the value of #DEHIVE?
Sergey Onyshchenko – CEO of DeHive: To prevent dumping, we have established 10 month linear vesting for all DHVs acquired during private, pre-sale and public sale rounds. To increase demand (create utility value) on DHV token, we designed the platform so that DHV token participate in core platform activities, such as yield farming, token redemptions and index creation.