Thank you to everyone who joined AMA Blockelite x Shield on 30th November at 10:00 AM UTC I 05:00 PM (UTC+7). Here is the recap for those who missed this AMA.
Yuno – Blockelite Host: Hello everyone, today’s AMA activities is Sponsored by Solv Seahorse.
Solv Protocol is the decentralized platform for creating, managing and trading Financial NFTs.
Solv Seahorse Initiative, as a partnership plan, is a continuous campaign for Solv Protocol to build a prosper ecosystem of Finanncial NFTs with its partners.
And now, we will meet Charles – Co-founder of Shield
Hello @ShieldCharles , welcome to Blockelite today
Charles – Co-founder of Shield: hey guys nice to e-meet.
Yuno – Blockelite Host: Hello Charles , How are you today?
Charles – Co-founder of Shield: I’m doing pretty good.
Yuno – Blockelite Host: So great
On to the Segment 1 of our AMA, we hope you’re ready for the next few questions coming at you!
Charles – Co-founder of Shield: Yes les rock~
Yuno – Blockelite Host: Our guest is ready, we will enter Segment 1 right now !!!
Q1: Can you explain to us what Shield is going to build ?
Charles – Co-founder of Shield: Shield is trying to be the Uniswap tailored for derivative products. It is a user-friendly protocol that enables smooth transactions ready for mass adoption. Shield aims to be a truly decentralised trading protocol specialised in derivative products. You are able to trade the academically-innovative everlasting option products on the Shield platform and other derivative products including perpetual swaps and other structured products built upon Shield. Shield is aspired to be the next generation of infrastructure for decentralised derivative trading that everyone can use.
We are on coin98 wallet it is easy to have a trial.
Yuno – Blockelite Host: Thanks for answer, next question
Perfect, I use coin98 and hope everyone use also it
Q2: What core innovations do you think that will help Shield stand out from numerous derivative protocols?
Charles – Co-founder of Shield: Shield is the first derivative protocol that achieve high capital efficiency, low LP counterparty risk and no impermanent loss all at same time.
Shield introduces P2DP(Peer to Dual pools) which essentially solves the LP counterparty risk of on-chain derivatives by introducing two types of pools, private ones for professional market makers and public one for regular users, that ensures on-chain liquidity and minimal risks for regular users. Professional market makers can provide risk-free liquidity in the private pool through risk-hedging strategies or take orders first, while regular users can provide almost risk-free back-up liquidity in the public pool.
Besides, Shield designed a third-party liquidator system and a brokerage system based on non-cooperative game theory and introduced an innovative trading fees buy-back and burn mechanism, which resulted in a Nash equilibrium inside the protocol and ultimately delivered a perfect decentralised network.
Yuno – Blockelite Host: Oh, P2DP, this is the first time i know about it
Charles – Co-founder of Shield: peer 2 dual pools
instead of traditional peer 2 pool
Yuno – Blockelite Host: yeah, undertood =)
Q3: What highlighted features or user benefits of Shield do you think stand out the most that will help the project attract users?
Charles – Co-founder of Shield:
1- The whole trading experience over Shield is completely on-chain. Shield is genuinely a DeFi protocol that inherits all revolutionary traits after DeFi, non-custodial, transparent and censorship-resistant.
2- Shield’s perpetual option is the first zero price slippage, high leverage(50x-250x) and forced-liquidation risk-free product on the market. Limited downside and unlimited upside. Shield can be the killer protocol in this volatile crypto market.
Yuno – Blockelite Host: Zero price slippage =) sounds great
Charles – Co-founder of Shield: that is the magic of P2DP mechanism
Yuno – Blockelite Host: I used to trade with high slippage and I don’t like it 🙂 so crazy
Okay, thanks for answer
Continue with Q4
Q4: What is a simple way for me to get involved with Shield as a community member and what are the benefits of participation?
Charles – Co-founder of Shield: Yeah it’s a great question
In order for new users to fully understand and engage in the Shield Protocol, we just launched a full-stack Shielder exclusive campaign carnival called Shield Union to flourish the Shield ecosystem on a worldwide scale.
Every new user joining Shield Union can learn-to-earn by watching a short clip explaining Shield protocol and get rewarded a welcome bonus worth of 50 $SLD. After that, there will be professional trading strategy tutorials brought by volunteers around the world, increasing users’ chance of successful trade. Any positive PnL trade conducted has the opportunity to be the winner of a 100,000SLD lottery. More interesting build-to-earn events are yet to be launched.
Join here at https://app.shieldex.io/union.html
Yuno – Blockelite Host: How can I receive the bonus ?
Charles – Co-founder of Shield: If you are a normal address without deception you can join our https://t.me/shieldunion to claim bonus
however shield union is not only about bonus but also has other benefits
Yuno – Blockelite Host: Okay, last question in segment 1
Q5: What are the next key milestones for Shield that we are excited about?
Charles – Co-founder of Shield: Having Shield 1.0 mainnet alive, our upcoming milestones would be:
- Ensure perpetual options running smoothly while increasing the trade volume
- Initiate liquidity mining project on PancakeSwap
- Complete the CEX listing of $SLD
- Shield 2.0 with perpetual swap and expand to Layer 2
- Shield 3.0 to support more developers to build on Shied protocol and develop exciting derivative products
We hope all Shield builders that participate in the early development of the ecosystem can share the bonus from the growth of Shield. And this is the best timing.
Yuno – Blockelite Host: Perfect
We wrapped up nicely the first part.
Are you ready for Segment 2 (5 best questions from twitter)?
Charles – Co-founder of Shield: yes
Yuno – Blockelite Host: Our guest is ready, we will start Segment 2 right now !!!
Q1: how will you minimize an “impermanence loss” risk as user provide liquidity in your Public pool that Shield DAO?
Charles – Co-founder of Shield: Shield implements P2DP(Peer to Dual Pool) mechanism to ensure strong liquidity to the protocol and use index price feed by the oracle, which avoid the risk of impermanent loss issue in the AMM mechanism.
Because of private pool that can hedge risks. Therefore, professional market makers can provide liquidity in the private pool without risk while ordinary users can provide liquidity in the public pool almost without risk, thus completely solving the problem of lack of liquidity for on-chain perpetual contract products.
Yuno – Blockelite Host:
Q2: Can you tell us about the team’s accomplishments so far? What are the primary goals that #Shield has yet to accomplish? If at all possible, give your road map as well.
Charles – Co-founder of Shield: The Shield team have been working on this project for almost one year and achieved many milestone so far. We closed $2M private round and complete the IDO within 3 mins. SLD get listed in Uniswap & Pancake Swap. Now launched mainnet on BSC and Shield Union with 200K SLD incentive.
Our daily trading volume has been at a record high in these days
With the deployment of Shield 1.0, we will focus on product adoption and CEX listing. In December, we plan to launch new products such as perpetual swaps and structure products, which showcase Shield competitive capability of financial entering and long-term value.
Yuno – Blockelite Host: Congrats
Q3: Is your platform suitable for crypto beginners? Or does it only limited for professional users?
Charles – Co-founder of Shield: Yes, Shield is born for retails. How to service such retail traders in crypto when they access these sophisticated derivatives products has been one of the Shield’s initiatives to start the journey. With Shield perpetual options, users get to bypass the hassle of studying market conditions and determining the apt strike price, expiration date. It’s an extremely retail-friendly protocol with smooth transactions and clean UI.
Yuno – Blockelite Host: Sounds great, next question
Q4: I’m a developer, and I’m interested in contributing to your project alongsides earning, Do you have any Bug Bounty to check for vulnerabilities ? How can i become a part of “Shield’?
Charles – Co-founder of Shield: Yes, Shield is participating Gitcoin Hackthon GR12. We welcome developers, builder to create structured product on top of Shield protocol. We have workshop scheduled on 3rd Dec for detail explanation. Follow us on twitter and mark your calendar.
Yuno – Blockelite Host: Ok, last question of this segment, everyone please prepare good questions for segment 3.
Q5: Do you have a Token Burning plan to increase Token value and attract Investors to invest ?
Charles – Co-founder of Shield: Yes, Shield implements Swap&Burn. It’s an innovative deflationary token model that allows anyone to swap $SLD for profits meanwhile reducing token’s total supply.
In future versions, SLDs will also be available for pledging to provide liquidity
Yuno – Blockelite Host: You are awesome, thanks for answer all 5 best questions from twitter of my community.
Last Segment for AMA today, The guests will select 5 best questions from the community.
Charles – Co-founder of Shield: Thanks Yuno.
Is this Your project only for elite investors, how about others with small funds, is it open to everyone?
Charles – Co-founder of Shield: Shield is much friendly for small funds due to High leverage but without the risk of being liquidation
From where you get the project name? What does it means to you? And why you choose this name for your project? What is your mission and vision to built this project? What you want to achieve Through in future?
Charles – Co-founder of Shield: To Build The Next Generation of Global Derivatives Infrastructure. DeFi will impact and disrupt CeFi & TradFi becoming an unstoppable trend. Shield strives to expand on the success of DeFi in derivatives market.
What are the ways that your project generates profit / revenue to sustain your project and what is its revenue model? How can it be mutually beneficial for both the investor and your project?
Charles – Co-founder of Shield: SLD capture value from trading fees and ensure its long-term upside through a repurchase and burn mechanism.
According to the project’s roadmap- what are your most important next priorities?
Charles – Co-founder of Shield: Prosper the ecology of the protocol through Shield Union and complete the CEX listing
On your website you don’t mention that you have done any internal or external audit of your smart contract, so can you give us details if you have done any audit before? And in case you haven’t, would you plan to perform any review of your smart contract in the near future?
Charles – Co-founder of Shield: We do have. Here is the link: https://github.com/peckshield/publications/blob/master/audit_reports/PeckShield-Audit-Report-Shield-v1.0.1.pdf
Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?
Charles – Co-founder of Shield: SLD will be BNB or UNI in defi derivatives space.
Thanks everyone 🙏
Yuno – Blockelite Host: Thank you for joining today AMA! It was awesome!
I will unmute chat, and everyone don’t foget join: https://t.me/shield_dao to update more informations of project
Our AMA session is now over !!!