ShuttleOne AMA Recap together with HongZhuang L. (Founder -CEO)
The AMA Session had 3 Segments:
- Introduction / Questions from The CryptoChainPh Team
- Questions from Twitter
- Live AMA
Segment 1: Introduction / Questions from The CryptoChainPh Team
Ren:
Let's start the First Segment.Can you please introduce yourself to the community and kindly give us an introduction about ShuttleOne?
Zhuang:
Hi! Thank you for having me today and it is a pleasure to be able to share about my work and myself to the PH community.
For starters, I am Zhuang, I am the founder and CEO at ShuttleOne. Personally, I am a ex investment banker dealing in structured products and quantitative finance before I became an entrepreneur in the agriculture industry. Yes, I became a farmer. You folks can read more about my story here.
After successfully exiting from the farming business sometime in 2017, I begun to transit to be involved in the crypto space by way of mining Ethereum. It was funny as I read about bitcoin in 2011 and I thought at that time I was late, nonetheless I got started in mining eth and built one of Singapore’s largest mining facilities. More of the story here.
Miners have one issue, the problem is we still need fiat currencies to pay for our electricity, rent workforce etc. These are costs that we as miners had to exchange eth to domestic currencies. This therefore gave spark at the end of 2018 to begin what we have today in ShuttleOne.
We’ve been building ShuttleOne for the past 2 years now and we begun to dabbling in DeFi from a very early stage at the end of 2019 with the various options like Maker.
Therefore, ShuttleOne is a defi company and we are based in Singapore. We offer trade financing and microloans using the blockchain by tokenizing real world assets. We are probably one of the few crypto companies in the Defi space that applies the blockchain and crypto for real world problems in this case the financial services industry.
We support Government to Business companies around the region by lending stablecoins out to these merchants who needs loans and borrowing.
As a team, we were involved in crypto for a long time, and my whole team are entrepreneurs. They were the first licensed playstation and xbox developers outside of US and Japan. We decided we want to build a company with a real product, revenue generating income to support a token and the financial services industry.
Ren:
What are the products you can offer to the community?
Zhuang:
As a company, from a business stand point, our main clientele are G2B corporations. G2B stands for government to business. Therefore we serve government linked companies as they support their communities. These could range from port businesses, logistics, commodities and various other government initiatives that has a huge outreach to business communities. So that’s our business and we serve the government entities around the region in South East Asia.
This AMA is special as ShuttleOne cannot function without the community. It is the support of the community that the technologies that ShuttleOne has built brings about stronger support for the G2B communities in this region.
As such, with the community, we offer a high interest bearing product for your liquidity supply in stablecoins. If you head over to www.shuttleone.io/mainnet you will be able to see the profit we pay is one of the highest in the crypto market at 10% APY. On top of that we offer a reward in $SZO the ShuttleOne token to our liquidity suppliers. While we have not listed the token due to the fact that we want more and more people to farm and mine the token first we do believe when we launch SZO on exchanges it will be a good pay day to our token holders just as CRV or UNI has done. So I do hope you get into liquidity supplying before the rewards is too late!
Ren:
You mention that the community plays a big part in your project, and I saw on twitter that you're having a meme competition, can you give us more details about it?
Zhuang:
definitely..
we started a MeMe competition as we think the community can participate and give us a shout out to your friends and the crypto community as a whole. Here are the details
To know more, please read the whole Article here:
we have 2 more days to go only! some of the art so far has been very very interesting. like this gif was created by a community member. so join up!
we will announce winners 2 days after the 5th
https://twitter.com/IamCryptoZombie/status/1334124149418065921?s=20
this is another interesting one..
Ren:
Can you share us your TOKENOMICS? What are the usecases of $SZO?
Zhuang:
SZO is very close to our heart. we’ve been planning and designing the token for the past 2 years. $SZO token is a utility token that regulates incentivies and secures the network for token holders and suppliers of liquidity in the mining pool.
General Information
Token Supply - 230,000,000 SZO
Token Type - ERC20
Inflation - 5% a year or 11.5mil SZO per year.
the allocation of the tokens can be found here:
Our token can be traded on Uniswap very soon. Please join our telegram group or follow us on twitter for the announcements coming shortly. For liquidity suppliers, what this means is they have a good chance to earn good profits with the SZO via liquidity mining and also a good return on their stablecoins. the token is already in action..whenever loans are taken out
SZO holders is incentivsed by providing liqudity and it burns, you guys can check out this txn
🔥🔥Watch $SZO Burnnnn🔥🔥
💰Trade Financing disbursed by the ShuttleOne.Network for US$4322.00 in support of a e-Commerce Trader doing cross border trade preparing for Christmas!
https://twitter.com/shuttle_one/status/1334048487655108610?s=20
done!
Ren:
There are a lot of DEFI projects that develop lending/borrowing products, what makes ShuttleOne stands out against its competitors?
Zhuang:
this is a very interesting question and definitely one important, there are 6 big points on why we are different and why this is important.
1. We did not do an ICO
Therefore, this means that the tokens in circulation and marketcap will be very low and it will grow according to the business that we do. Essentially, in cryptotalk it means there are no whales to dump on you.
2. Watch SZO BURNNNN
To ensure that there is a constant burn and reduction of total supply, if you have been following us on twitter (@shuttle_one) and our telegram announcement page, you will see that successful business done via the ShuttleOne.Network will DECREASE the token supply.
This potentially allows for strong price appreciation and the token holders are incentivized to hold SZO and supply liquidity via the ShuttleOne.Network to gain more value
3. Very low starting supply
If you go to our Guides on the ShuttleOne.Network, you may see that more than 50% of the token supply IS NOT MINTED. The tokens can only be minted when there are successful business to be made (along with the burn) so the circulating supply on day 1 is actually less than 1% of the token supply if we would do a good estimate. The total number of tokens minted for the team and also our equity investors are also locked for 4 years from listing.
4. Working Business
Many project these days are in their early days of inception. Most of the tokens do not have real use cases or are battle tested. Even the projects in 2017, most do not garner a proper use case for their tokens. ShuttleOne stands out by having a working crypto business first (we decentralized over the past 2 years) and this is highly different. The amount of revenue that we have clocked in our trade financing this year of almost US$3mil allows us to say we are firmly a start up looking to scale and we need the community’s help at www.shuttleone.io/mainnet to make it happen
5. We are backed by some highly notable equity investors.
ShuttleOne equity investors include Maker, CMT Digital, Andromeda Capital and various angels in Singapore. Recently, Microsoft’s ex Director Charlie Songhurst who took over Yahoo and Skype also invested in us.
6. Regulated DeFi
We believe we are one of the few DeFi projects that is successfully in process of applying for licensing in the world via Singapore. If you go to our github at www.github.com/shuttle-one you will be able to find our application submission to the monetary authority of Singapore.
I would love to also point out, we are also a part of Singapore’s Financial Sector Development Fund awardee. This means the technologies and business that ShuttleOne has built is being recognized by the central bank in Singapore.
done!
Ren:
For the last question for this round
Tell us about your plans for 2020, what are you currently working on? Can you share us your roadmap?
Zhuang:
I think 2020 is about to end! We are less than a month away now from 2021! I think I will recap what we’ve delivered this year in terms of roadmap
Our past 2019/20 Roadmap
here's what is coming up next
As we are on the question of roadmap, something interesting is coming up actually for tomorrow and it is one of the products we have for our enterprise clients. I’d let the PH community here have a quick glimpse of what it is at this moment to play around. If you head over to https://shuttleone.io/mainnet/ratdetail.php?n=goerli you will find the testnets and mainnets of the database for our enterprise token $RAT or Risk Assessment Token. RAT is a NFT and we have been using it to tokenize real world assets in on the blockchain with the trade financing that we do
This is a huge step forward for the financial services industry as in finance today, especially so when you want to take a loan, is is very difficult for the financer to check if the asset that you are pledging (for e.g your house). With the database that ShuttleOne is building, we are hopeful that on the blockchain given the transparency of assets, any financer who wishes to check if the assets have a loan or charge outstanding will be able to utilize this product to do so. And while doing so, more $SZO will be burnt! just to play around some of our products...if i am not clear https://shuttleone.io/mainnet/ratdetail.php?n=goerli go to this web type in tokenID 12 and click check. you will see a loan coming up that we’ve done in October in terms of rice this is the blockchain in action, for real world problems and real world companies.
Done✔️
Segment 2: Questions from Twitter
Ren:
Question #2 from @y1sus_afp - What are the characteristics of the digital currency infrastructure in the block chain that Shuttle is creating to provide uninterrupted financial services in an era of programmable money? How does this infrastructure solve the current problems of DeFi?
Zhuang:
This is a very good and pointed question. I think one of the biggest issues of DeFi is that the products and technologies that crypto companies have built (especially this year in DeFi) do not really solve real world problems. Now this is not really new, most crypto doesn’t solve real world problems. It helps you earn (and lose) money via digital assets I guess? Like when you farm sushi, pasta, harvest veggies haha you know what I mean.
Some of the characteristics of the infra that ShuttleOne is building are these:
1. Non-custodial
- smart contracts that hold funds of our liquidity suppliers DO NOT have admin keys. Therefore, we as a company and developers cannot rug it.
2. Decentralized
- as a company, ShuttleOne do not hold onto funds of the borrower (neither our liquidity suppliers). All of the assets that are created from real world assets also hold to this philosophy.
For more of these information, we hope you folks can go to www.github.com/shuttle-one or try to provide liquidity and get some SZO at www.shuttleone.io/mainnet
So ShuttleOne enables DeFi by building our technologies to support real world problems. Things like it is tough for a ecommerce merchant to take trade finance for cross border trades. We support some of the largest ecommerce platforms here in South East Asia and most of these merchants the bank does not care. Maybe because their business is small or perhaps their credit lines are not strong. The solutions of ShuttleOne solves these issues as you can see as we announce our trades on twitter or telegram.
Ren:
Question #3 from @molestika - Shuttle's target audience is unbanked users, but do you have a strategy to get people who still blindly trust centralized entities to give your project a vote of confidence?
Zhuang:
We have one very simple strategy, which I think is working for the most parts of 2020. In terms of business we have never sold ourselves as a independent platform, ShuttleOne (if you are an enterprise client, we are a widget, a plugin in YOUR ecosystem). We integrate into larger software platforms and ecommerce platforms and we focus 100% on delivering the financial services for these players.
We’ve licensed the platform this year to a Singapore government owned company, a company that deals with national identity for the whole of Singapore. I think that’s a great vote of confidence as they actually pay us to use ShuttleOne.Network. and if you check this out you folks are mainly in Philippines, you guys should know Shopee.
If you are an e-commerce merchant do sign on with Shopee to see how defi enabled loans can help with your business!
This is our product powering the G2B organizations...and of course supporting Shopee merchants..
this is the EDM that is blasted for shopee merchants..
Ren:
Question #4 from @Lunakyeot - As far as I can see with the concept of your project it seriously needs an armada of lawyers which will help you to deal with regulations to be implemented properly. What are your countermeasures to deal with regulations flawlessly?
Zhuang:
We do have a very strong legal team dealing and working for us. If you go to our github, you will see our submission for licensing which regulates crypto in Singapore. Maybe not an armada, but just a couple of legal folks who UNDERSTANDS the innovation of crypto. This lawfirm that we hire and work with on our legal paperwork also represents companies like Coinbase and MakerDAO for regulatory advice in Singapore. Our github can be found here.
Ren:
We're now heading on the last question for this round. That was fast. 😅Question #5 from @Kvindvr- For microloans, ShuttleOne connected alternate sources of income and digitize the financial process via Visage Protocol. What is Visage Protocol? How do Visage Protocol digitize the income sources? What benefits by using Visage Protocol?
Zhuang:
Visage Protocol is a proprietary A.I product that ShuttleOne deploy to digitize the manual process of trade finance. In the process of trade finance there are a lot of paperwork, our customers are able to reduce manpower and reduce the costs of loan applications in a digital manner with Visage Protocol.
With this AI computer vision product it cuts manpower by around 80% so that trade financing and loans can be risk scored and disbursed even faster.....
For a full list of our products you may go to:
https://www.shuttleone.io/product.php
You may check out our list of products here too.
Liquidity Mining
https://www.shuttleone.io/mainnet/
Demo of Our Enterprise Product
https://www.youtube.com/watch?v=VFrUo9ASNuA&feature=youtu.be
so calista finance is a singapore government linked company's finance product
ShuttleOne's DeFi techstack is powering it now...
like the Shopee one u saw
done✔️
Segment 3: Live AMA
Community Q1:
a lot of scam projects out there, guess what guarantees that your project is different from them.
Zhuang:
i think if you look closely, as i have mentioned above in the 6 points that makes us stand out...and let me refresh these again....
1. We did not do an ICO
Therefore, this means that the tokens in circulation and marketcap will be very low and it will grow according to the business that we do. Essentially, in cryptotalk it means there are no whales to dump on you.
2. Watch SZO BURNNNN
To ensure that there is a constant burn and reduction of total supply, if you have been following us on twitter (@shuttle_one) and our telegram announcement page, you will see that successful business done via the ShuttleOne.Network will DECREASE the token supply.
This potentially allows for strong price appreciation and the token holders are incentivized to hold SZO and supply liquidity via the ShuttleOne.Network to gain more value
3. Very low starting supply
If you go to our Guides on the ShuttleOne.Network, you may see that more than 50% of the token supply IS NOT MINTED. The tokens can only be minted when there are successful business to be made (along with the burn) so the circulating supply on day 1 is actually less than 1% of the token supply if we would do a good estimate. The total number of tokens minted for the team and also our equity investors are also locked for 4 years from listing.
4. Working Business
Many project these days are in their early days of inception. Most of the tokens do not have real use cases or are battle tested. Even the projects in 2017, most do not garner a proper use case for their tokens. ShuttleOne stands out by having a working crypto business first (we decentralized over the past 2 years) and this is highly different. The amount of revenue that we have clocked in our trade financing this year of almost US$3mil allows us to say we are firmly a start up looking to scale and we need the community’s help at www.shuttleone.io/mainnet to make it happen
5. We are backed by some highly notable equity investors.
ShuttleOne equity investors include Maker, CMT Digital, Andromeda Capital and various angels in Singapore. Recently, Microsoft’s ex Director Charlie Songhurst who took over Yahoo and Skype also invested in us.
6. Regulated DeFi
We believe we are one of the few DeFi projects that is successfully in process of applying for licensing in the world via Singapore. If you go to our github at www.github.com/shuttle-one you will be able to find our application submission to the monetary authority of Singapore.
Community Q2:
Crypto people say that the next boom will on NFT after the Defi, Do you agree with this? And what are the plans of SHUTTLE to build on NFT concept/Technology ? Any future idea about NFT?
Zhuang:
We believe that NFT ARE a part of DeFi. it is not a boom but a huge innovation.
ShuttleOne already utilizes NFTs as part of the SZO ecosystem...
just go to this product that we've built called Alahasa (this is the first time I am mentioning to your community earlier)
https://shuttleone.io/mainnet/ratdetail.php?n=goerli
Type in the tokenID 12 and click check. You will see the $RAT token is a NFT that tokenizes real world assets in ShuttleOne we’ve many working products working together to generate revenue and value to the $SZO token.
Community Q3:
Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?
Zhuang:
We TOTALLY have a BURN MEchanism, in fact almost every other day SZO is burnt.
🔥🔥Watch $SZO Burnnnn🔥🔥
🚀🚀THE LARGEST SZO BURN FOR TRADE FINANCE via the ShuttleOne.Network!!
Trade Financing disbursed by the http://ShuttleOne.Network for US$4736.00 in support of a Freight Forwarder dealing in cross border Logistics. Funded by @MakerDAO’s $DAI
https://etherscan.io/tx/0x496e6a0f2b3b02d1d5ab90386a2d47e65964ffa57b2bd1ef0fe2a82fb87684e7
Trade Financing disbursed by the http://ShuttleOne.Network for US$5000 in support of a Food Merchant dealing in cross border Truffles. Funded by @MakerDAO 's $DAI
https://twitter.com/shuttle_one/status/1329034957218410499?s=20
⚡️⚡️A good burn and mint mechanism is tied to a working product. ⚡️⚡️
Crypto is transforming the API call revenue model of traditional softwares, we are happy to watch SZO Burnnnn 🔥🔥🔥 as ShuttleOne's product is used for real world clients.
Watch how many SZO burns as a borrower for trade financing undertakes a US$101,976 loan.
https://twitter.com/shuttle_one/status/1326021086073352192?s=20
we can only burn SZO because we have real working products serving real clients in this space. these are organic and not made to pump and then dump we can’t dump anyway.never did an ICO
Community Q4:
Partnerships are essential for Adoption, and the progress of a project, so can you tell us what partner #ShuttleOne has now and in the future?
Zhuang:
We take partnerships seriously. And every partnership must generate revenue for the value of SZO and of course us as the company....what's relevant in crypto actually happened on the 5th of October where ShuttleOne was voted in as a COLLATERAL in MakerDao's protocol....
💫Maker (MKR) Token Holders Votes to Greenlight ShuttleOne's CAT to begin Collateral Onboarding Work in the Maker Protocol💫
We would like to say a big thank you to the MKR holders that voted to greenlight us. Please read on to find why this matters and what does it bring to ShuttleOne.
https://twitter.com/shuttle_one/status/1313152635956916225
It may not seem important to a lot of folks but technically the ShuttleOne’s enterprise tokens $CAT (like $RAT) can be tokenized like ETH in MakerDao’s protocol and lend out Dai to support more real world use cases, this to me is the most important partnership there and it has been community voted more than $40mil MKR voted for ShuttleOne.
Community Q5:
As you know Covid-19 has a large impact in the crypto Market, So How can your company maintain its project and also the team that are working hard during this pandemic?
Zhuang:
ShuttleOne, our products and revenue soared some 7000% during the pandemic...
this is because as banks and remittance houses shuts or gets locked down
people staying at home...many are turning to digital finance that facilitate still cross border trades....
this is where we come in
you can read more about ShuttleOne in the pandemic here:
[Building ShuttleOne Series 2: Standing Firm in Mission Critical Financial Services]
Read how the Blockchain Industry comes of age in the face of COVID19. See how MakerDao's Dai, Centrifuge's asset lending platform Tinlake and ShuttleOne's fintech blockchains come together in the fight against the pandemic.
"Crypto comes out fighting. Our network never sleeps. Because the fight against COVID19, the desire to flatten the curve, and seeing the light and the end of the tunnel never diminishes."
We facilitated a lot of covid19 trade and more importantly we remitted $DAI to support hospitals, military efforts in PH =)
You can read about those in the medium post this was done for the Philippines, amongst other things that we’ve supported in PH.
End of AMA Session…..
🔷🔶🔷🔶🔷🔶🔷🔶🔷🔶🔷🔶
About ShuttleOne
ShuttleOne is a digital asset blockchain infrastructure company that builds systems that support governments, institutions and business to business platforms. ShuttleOne services
the Southeast Asian region in remittances, microlending and trade financing.
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