Guests: Ocean — CEO of Moma.Finance
Segment 1. Guest and project introduction:
Leon-CryptoIA: Let’s invite Ocean @oceanliao, CEO of Moma.Finance, to introduce [Moma.Finance] to us.
Ocean Liao: Hey,glad to talk with u guys!
Leon-CryptoIA: Thanks for taking your time with us today! We have prepared some questions for you to give us a deeper understanding of Moma.Finance.
Could you introduce yourself to our community firstly?
Ocean Liao: Happy to do it. Hi CryptolA community! I am Ocean, an entrepreneur in the blockchain industry. Since 2017, I have been building projects such as Gravity (the largest EOS node with 300,000+ token holders), Lichang (a community app with 1 million+ users), and TokenUp Wallet (a multichain wallet with 100,000+ users).
I guess I am a “familiar name” or veteran among the Chinese blockchain community. And I am Founder & CEO of Moma Finance.
Ocean Liao: I am a long-termist and idealist myself. I like to do some innovative things and enjoy the process from 0 to 1.Maybe I will not succeed every time, but I have always been trying to change the world through the efforts of myself and our team.
Segment 2. Online interview about Moma.Finance:
Leon-CryptoIA: Quite impressive. Not everyone have the courage to try to change the world. Nice to know more about your ideas about Moma.Finance
Let’s start my questions.
As we know, Moma is a Defi lending products, but we wonder what are the advantages of Moma Protocol compared with other DeFi Lending products？Please tell us more about it.
Ocean Liao: First please let me give u guys a brief intro about Moma Protocol.
Ocean Liao: Moma Protocol is a proprietary solution to meet the growing demands for liquidity, scalability and speculation in DeFi Lending markets. With Moma Protocol, everyone can create and manage lending markets.
The protocol offers a proprietary customizable Smart Contract Factory which serves the lending markets and users in three roles: Factory,Launcher and Aggregator.
Factory is smart contract factory that can produce and manage Launch Pool and Lending Pool.
Launch Pool is a customizable Pre-Lending Pool designed for community mining. Community tokens can be distributed for any projects through the Launch Pool.and Lending Pool is a customizable lending market pool with an over-collateralized loan structure. This pool can support lending and borrowing in any market.
Aggregator is a calculator and analyzer based on Pool and market data. It helps users solve their personalized DeFi demands for lending, borrowing and community mining of crypto assets.
Moma Protocol differs from its competitors in multiple dimensions,I will choose some of these features to share with u guys.
- Limitless Markets: Moma can support an unlimited number of assets, while Aave, Compound and Cream only support a limited number of assets.
2. User-defined pools: Moma offers a customizable pool solution, while Aave, Compound and Cream do not.
3. Application scenarios: Moma’s use case scenarios are extended to Launch, Lending, and Aggregate, while Aave, Compound and Cream’s user case scenario limits to lending.
4. Incentive tokens: Moma can have an unlimited types of incentive tokens, not just Aave, Comp and Cream tokens.
5. Risk management: Moma creates a multi-folded and sophisticated risk management framework, including: Token Risk Rating Database, Reserve Pool,Dao Pool and Whistleblower Mechanism. Aave, Compound, and Cream mainly rely on a single token risk framework.
6. Anyone can create pools! Anyone can use! Anyone can earn!
Leon-CryptoIA: I saw that there was a concept of “Factory”. We are very interested in Moma’s factory. Can you tell our community members more about Moma’s factory?
Ocean: Moma’s Factory is just like Uniswap. Uniswap produces trading pairs, Moma produces lending pools and launch pools. Anyone can create a pool, but honestly the creation of a lending pool is a bit more complex than trading pair because it has more parameter setting requirements for risk management purposes.
The whole process would be much more easier for somebody who understand the mechanism of a over-collateralized loan platform, like Aave and Compound.
We will provide instruction documents to guide and assist those who wish to run their own lending pools. For now, we think the first batch of pool builders will be blockchain project teams like us and some institutions who manages funds like CEX and token funds.
Leon-CryptoIA: About DeFi Lending products, risk management is the primary consideration. What does the Moma Protocol do in terms of risk management?
Ocean: Moma Protocol Risk management contains 4 components:
1）Crypto Asset Risk Rating Database acts as a risk prompt list for identifying any potential risks related to the crypto asset in the Lending Pool. Moma users can take into account the rating score of a particular crypto asset from the database when they are deciding their participation strategies.
2）Whistleblower is the core mechanism of Moma’s risk management framework. By staking Moma tokens, users can become Whistleblowers and submit risk warning information. Once the information is confirmed as valid, Whistleblower will receive incentives.
3）Reserve Pool receives a portion of the interest revenue from Lending Pool and forms a fund pool. In situations where losses occur, the funds in the Reserve Pool will be mobilized for compensation.
4）Dao Pool is a staking pool which anyone can stake $MOMAT tokens into it. They can get $MOMAT incentives from the pool.If any risk problems occur during the pool operation process and result in losses on the user side, Moma tokens in the Dao Pool will be mobilized to compensate the affected users.
Leon-CryptoIA: You mentioned “whistleblower” in 2nd component explanation. Whistleblower is an interesting point. How does one become a whistleblower and what incentives for whistleblowers?
Ocean: Whistleblower is the core mechanism of Moma’s risk management framework. With the expansion of Moma’s business and the increase of the number of Lending Pools, the workload of risk assessment and judgment would become very large. It would be impossible to complete all information judgment only through the risk control department of Moma. To accomplish this extremely important mission, we have designed the role of “Whistleblower” in the system.
Anyone could become a Whistleblower by staking Moma tokens, and the specific details will be announced after our product goes live.
After a user has become a Whistleblower, he or she could submit risk warning information. Moma will judge how valid such risk warning information is, through community or committee governance. Once the information is confirmed to be factual and valid, the Whistleblower who submitted the information will be rewarded by Moma tokens. If the information submission is malicious, the collateral in Moma token will be slashed as a form of punishment.
Leon-CryptoIA: What is the interest of the $MOMAT holder can enjoy?
Ocean Liao: $MOMAT Token is the native governance token of the Moma protocol. The utility and use cases of $MOMAT include but are not limited to:
$MOMAT holders can obtain part of our platform’s revenue.
$MOMAT holders can enjoy certain privileges and interests for future use of the platform’s lending market or other services.
$MOMAT holders can vote to participate in the development and key governance of the platform.
$MOMAT holders can stake $MOMA into the DAO Pool to get incentives.
Leon-CryptoIA: Why have you opted for your own oracle system instead of using oracle networks already available on platforms like Chainlink ?
Ocean: Moma is a solution to meet the needs of the long-tail lending market, this means that there will be a large number of digital currencies in our market that need the support of oracles, and some of them can be met by current mature oracle solutions such as Chainlink, and some are not, that’s why we are here to offer a solution to meet business needs in today’s DeFi market.
Of course, Chainlink including Uniswap and other DEXes will become our price-Feed data sources, but it is always better to have a set of oracle solutions that could be scaled and extended.
Leon-CryptoIA: Next question must be one of the most curious question from community.
What marketing strategies of Moma Protocol decided to use to promote growth and use of the project?
Ocean: For the business development side, here is our plan:
1–3 weeks: As our product and the first Launch Pool goes live, we will continue to get more high-quality projects in the pipeline and use high-yield to attract market attention and capital participation.
1–3 months: As we continue to have more Launch Pools, some of those will be upgraded Lending Pools and boost the TVL on our platform and some of our company’s existing project partners would be joining us then.
3–6 months: We will engage in strategic cooperation with DeFi platforms to provide a multi-variety token lending markets to fill up the gap in other competing platforms.
As for the user side, we will be actively launching different user-first campaigns to encourage participation, such as project ambassador plan, on-going community events, launch of DAO, and other incentive programs with other platforms with good traffic.
Btw, our Moma Protocol Invite Contest is ongoing, an incentive pool worth $12,500 for the winners.More detail: https://link.medium.com/8F22lsgPAhb
Leon-CryptoIA: Are there any exciting news regards to Moma Protocol that Ocean would like to share with our community members?
Ocean: First of all, Moma Protocol is about to usher in an important milestone-the launch event of Moma governance token $MOMAT. We will launch IDO at WeStarter&Boune at 11:00 (UTC) on July 6th, and launch IEO at Hotbit. After IDO, we will list MXC, Hotbit, Uniswap & Mdex at 13:00 (UTC) on July 6th, which is today.
Secondly, regarding the progress of the Moma product, our current contract has passed Certic’s audit, and the beta version of the product will be launched soon. The product will also be officially launched this month, and some partners have determined to open the Launch Pool after the product is launched.
Currently, the Bounce whitelisting event is closed. But more, we have prepared a competition event and prepared a $12,500 incentive pool for community users, More detail: https://twitter.com/Moma_Finance/status/1411334517613240325
Segment 3. Free-asking from the community members:
子 骆: Recently, the cryptocurrency market has been in a downturn, and the lock-up volume index of DEFI project is also declining. How does the MOMA project respond to the downturn of DEFI market？
Ocean: I think defi always represents the future development direction of the blockchain industry. The market is always a collection of short-term behaviors. What Moma wants to do is to become the infrastructure of the huge Defi ecosystem in the future and create value for users and projects. .Whether it is a bull market or a bear market, persist in innovation and continuous growth, the market and users will give us a reasonable position.
ADC: Where does Momo come from?
Ocean: The platform idea of creating Moma Protocol came from two parts.
First, when I used Uniswap for the first time in 2019, I was totally overwhlemed about its permissionless and anonymous product logic. Anyone can create. Anyone can use. Anyone can participate. It’s really the kind of infinite game I always prefer!
When we were initiating our own DeFi project, I kept asking myself what is the best way to implement lending markets with unlimited scalability. Finally we decided to adopt this Factory pattern to produce customizable Launch Pools and Lending Pools, and the two types of Pools provide use case scenarios for each other, so in theory, infinite liquidity could be generated in this close loop platform design.
Second, before we established Moma, we already were running a two-year-old community app with over 1 million registered users and over 30 blockchain project partners. We believe Moma can offer real value to our existing users and business partners by providing a DeFi solution that suits today’s real market needs.
Khoa Pug: Are you confident Moma is the best defi platform? Which partners do you cooperate with for development?
Ocean: We have great confidence about the development of the crypto-industry and the DeFi market in the near future. Moma Protocol will play an important role in the field of DeFi market infrastructure, we always maintained the original motivation and enthusiasm.
No More: How you ensure us about security of MOMAT?
Ocean Liao: For risk management,Moma will adopt some mechanisms to reveal and handle the risk,such as Crypto Asset Risk Rating Database,Whistleblower,Reserve Pool and Dao pool.
Moma’s code is audited by two different safe partners for eliminate all the leak.And We will continue to improve the code safety of Moma.
Olinda Mansfield: Which partnerships are on the roadmap of Moma Protocol ? Having the support of projects consolidated in the field always helps with trust and therefore adoption
Ocean: We have confirmed to partner with Hotbit、Anyswap、NFT Stars and Octopus Protocol when we launch the live version of our product after listing, and are in talks with more projects.
As for our pool partnership pipeline, our strategy is to get at least one project to join as every week at the initial phase. This is not our first blockchain project and we have partnered with over 30 projects in our company’s community app, we are confident that some of our existing would join us when we are live. We would also focus on bettering our product and user experience, and let our product’s quality speak for itself, and that would get us new partnerships too.
Leon-CryptoIA: Thanks Ocean. The above is all for today’s AMA with Moma.Finance.
More about Moma.Finance:
Official Website: https://moma.finance/