DefiCliq AMA with Shantanu Kumar

Steven Jim

Published in

The AMA Room

7 min readDec 18, 2020

Introduction AMA

Shantanu: Hey @ERCSU, Sure let’s start

And thanks for the opportunity of letting me talk about our project with our community.

Eric: First of all, glad you took the time to have an AMA with us! Can you tell us what is Deficliq?

Shantanu: Sure ! So deficliq is the first company to provide both collateralized and uncollateralized loans in both p2p and traditional ways with more features like DAO, staking, interoperability in one place on polkadot

Eric: Can you tell us your role in this project and how the idea started? @shancliq

Shantanu: We have recently shared sneak peeks of our p2p platform as well

So I am the CEO and founder of deficliq and as a CEO of a startup I basically handle and monitor most departments of the project but my main expertise is Marketing and team management.

Regarding the generation of ideas, I came to know about blockchain and cryptocurrency from one of my friends. Initially, I used to see it from a trading and technical point of views as I was not aware of much about the financial system then, and as the time grew I got fascinated by the idea of how it can change the existing centralized financial system and from there I thought of being a part of this change.

So with deficliq I am trying to do that!

Eric: Great stuff. Can you show us here? any screenshot or links?

Shantanu: Sure

https://twitter.com/deficliq/status/1314852054054047744?s=19

Eric: Why build on polkadot? @shancliq

Shantanu: So basically just a few months back people who were not part of 2017 would not have an idea about this crazy gas fee on ethereum.

But now people can see how it’s difficult for people who want to make a smaller transaction.

So using polkadot we will make it easier for small investors who want to deal with a few $ as a person won’t pay a 50$ gas fee to take a 50$ loan.

With polkadot people can also interact with different defi platforms and use liquidity available there.

Hope my typing speed is not that slow.

Eric: alright. So you got Charlie Shrem as a strategic advisor. Can you tell us how that came about and what is he helping you guys with?

Eric: no worries, mate

Shantanu: Yes so first of all we have to wait a few weeks to get Charlie’s appointment.

In that conversation, we told him about our idea, what we have done till and what’s our long-term plan with a full strategy to accomplish the plan and many other things as well.

He had also some questions from us which we got him answered and that was the part which got him really excited.

So basically it’s the idea and our vision which he wants to be part of.

So as we all know he is a core member of BITCOIN Foundation and has been in the crypto space since the beginning so as he says there is no company in this space that he doesn’t know or which he doesn’t have access to.

He is helping us to connect with some great people in the space who matches our vision, we also have few calls from time to time to discuss stuff and how things are going, and how we can make it better

Shantanu: Yes, apart from advising he has personally invested in us.

So he is also an investor in deficliq

Eric: so what does the $CLIQ token do?

Shantanu: Ok so let me tell u $cliq utility

Is it fine to share an image that can show all the utilities?

Eric: sure!

Shantanu:

Saved everyone’s time 💪

Eric: Nice. will open the floor for some community questions! Remember. you can 2x, 3x, even 7x the AMA prize if you buy EXNT and stake at exnt.io

Community AMA

Q: What are the details for the token sale? What will be the conditions and participation criteria? How will the type of sale take place and what privileges will early participants benefit from?

A: We have recently released our tokenomics which can be read here.

https://medium.com/@deficliq/cliq-tokens-and-economics-428edc9cb711

We have a crowd-sale on 13th Oct for which details will be announced soon.

Crowd sale will be done from the complete allocation of pre-sale as there are no other allocations except private and pre-sale.

And we won’t do sales like others using the bonding curve or anything like that where only bots or big investors get a chance to buy.

Q: On which main problem, deficlicq is trying to create a solution?

A: So we are building a platform that can provide u many options for which u need to go to different platforms currently like for collateral u need to go to one platform and for others u need to go to other platforms.

So we are saving our users time by removing the need of moving from one platform to another.

Q: How interoperable is Deficliq with other DeFi protocols on other networks? I’m aware that you offer to the stake, can you tell us the minimum amount of cliq token that can be staked and the time frame it takes to get a reward?#deficliq

A: We have mentioned staking in our Whitepaper which will be released just after the exchange listing.

For staking, we did a partnership with the FERRUM network as well and also trying to ok board some other staking pools as well.

https://medium.com/@deficliq/deficliq-partners-with-ferrum-network-to-integrate-proprietary-liquidity-options-6da5c2473c0b

Q: Recently you announced a partnership with Ferrum network, can you tell us more about it and how it will benefit us as a community member?

A: U will be get staking reward for just Staking on the staking platforms.

The partnership will not only help us in just making the staking possible on their platform but it also gives exposure to both the projects which is highly necessary for every market

Q: Polkadot is a new technology as well as the DeFis protocols. How will Deficliq deal with possible future vulnerabilities of your platform? Can users feel safe?

A: Technology might be new but we have a great experienced dev team that is working round the clock to make it easier and safer for our users.

Yes and absolutely users fund will be safe.

Q: What do you think are the strengths that DefiCliq has compared to other Defis? How to stay ahead of innovation in the long term?

A: Our strength is that we are making things easier for our users by saving their time.

Once a user has visited and used our platform they won’t be required to go to other platforms as we provide all the defi options in a better and easier way.

The long-term of a company is decided by whether they can see what users will want in the future and we know that everyone wants and will want to save their time and do things in a quicker time.

Also, companies which are providing certain things in defi right now will start adding more features and we will have those features before them

Given the high costs of on-chain voting, we have designed an off-chain governance voting mechanism for our community.

As we have said we believe in the true power of decentralization so we feel it right not to have some centralized governance body and instead the community can participate in product building decisions.

Our office is in Estonia only and we have great connections there as well who are well connected and influential in the Estonia market.

We have built up these connections which will help us grow in Estonia and other European countries.

Q: Until when will the Cliq token serve as the erc20 infrastructure? What exactly is the work on the Polkadot transition plan and when will the transition be?

A: We are working with the timeline mentioned in the roadmap According to which we will migrate to polkadot in Q1 2021.

Q: At the moment DeFiCliq is based on Polkadot, but will you consider having a bridge with on other chains like Binance Smart Chain, Cosmos, etc. to enable cross-chain swaps?

A: Right now we don’t have such plans