AMA — IMPULSEVEN TEAM MET WITH CRYPTO ZYTE COMMUNITY — 21ST APRIL 2021
- Questions :
Alright, before we start the AMA can u guys please introduce a little about yourself to our Community?
I am Cora Ng-Korimbocus, COO to ImpulseVen project. I’m a Chartered Marketer with over 20 years of experience in management, branding and communications.
Hello everyone my name is Amit Debnath I’m the lead developer of Impulseven I handle the development part behind the Impulseven
Surething! I am Krystelle Galano and I am responsible for forging partnerships with crypto companies, financial institutions, and community groups, I’m a Marketing, Public Relations, and Investor Relations specialist.
First Segment : Question From AMA Host
- Questions 1 :
About impulseven, can u Explain the main features of the ImpulseVen DeFi project?
Sure………first, we’ ll start by giving a heads up about ImpulseVen
ImpulseVen is a complete Decentralized Finance ecosystem that offers a range of solutions, including lending, staking, farming, trading and a decentralized exchange all in one suite.
ImpulseVen is so user-friendly, that it enables anyone to have access to this decentralized finance platform easily.
- Questions 2 :
can u explain the main features of the ImpulseVen DeFi project ?
In a nutshell, the revolutionary ImpulseVen stack makes us the one-stop-shop for everything in DeFi.
We have 5 key features: AI Arbitrage Trading Bot, DEX, Staking, Lending & Farming
we will give an overview of each feature…….
AI ARBITRAGE TRADING BOT: While all the product features of ImpulseVen’s platform make us unique, it’s our AI arbitrage trading bot that automatically executes profitable cross-platform trades that truly sets us apart.
ImpulseVen’s arbitrage trading bot will monitor different decentralized exchanges to identify price discrepancies between token pairs. Users can then capitalize on such discrepancies by placing profitable trades directly in our app. To ensure that users can take advantage of every opportunity, our bot will be configured for high throughput, capable of executing thousands of transactions per second across multiple exchanges simultaneously.
DEX: The ImpulseVen DEX is a fourth-generation exchange platform that is focused on cross-chain and non-custodial transactions. It features an advanced order book that allows for derivative and futures trading, and up to 20x leverage on perpetual contracts.
STAKING: Our staking service for VEN (ImpulseVen’s ERC-20 token) is equipped with a unique protocol that offers an array of advanced features that includes a mechanism that is designed to offer 80% of the fees generated from all VEN transactions as dividends, to be shared between all the stakers.
These dividends start accumulating the moment VEN tokens are staked, and payout of dividends is made once every 3 days. This dividend will be automatically added to the staked tokens, thereby gradually increasing the amount of staked VEN.
Users will be able to access all product and service offerings in the ImpulseVen ecosystem through a single dashboard with customizable features and the highest standards of security, reliability and transparency in the industry.
LENDING: ImpulseVen is already building the underlying infrastructure for our lending platform. It will be a decentralized solution that serves individuals and businesses alike.
Users will be able to borrow stablecoins through the platform after depositing a variety of crypto assets as collateral. The platform intends to offer maximum convenience to borrowers through minimizing interest rates. With ImpulseVen’s Lending platform, borrowers can earn passive interest in the form of VEN token variants by borrowing secure coins. Additionally, investors involved in staking or those contributing tokens towards the lending pool will also earn stablecoins as either interest or rewards.
and last ……
FARMING: Yield Farming, also known as Liquidity Mining, is an opportunity to earn passive income for cryptocurrency holders.
ImpulseVen implements a flexible Yield Farming program that offers attractive annual percentage yields in the form of VEN tokens. The liquidity secured through Yield Farming will be instrumental in helping the project further strengthen its DeFi offerings.
- Questions 3 :
What have you developed and released up to now? Where have you reached with the development works?
Thanks for this question, I will go on and answer for this.
Firstly, our smart contracts have been developed and the same were audited by Blockchain Consilium. The Staking platform has already been developed and was launched in March 2021. At the moment our Team of Developers is working on the Farming platform which is nearly completed and testing is done. The launching of the Farming platform is scheduled for this month itself.
We need to highlight that our roadmap milestones are being respected and launches are being done on time. This proves that ImpulseVen is a serious project and has a really dedicated team to make things happen. More updates about the project progress will be shared with our community and the public in general. You may check our progress with our roadmap on our website www.impulseven.com
- Questions 4 :
Has ImpulseVen token been listed on CEX and DEX? Will there be more listings? If yes, where pls?
Ven Token has been listed on Uniswap and one CEX. More listing on other exchanges will be done very soon….e.g Coinsbit. We are actually in discussions with several exchanges and. Announcements will be done shortly. Please follow ImpulseVen updates by joining our Community Groups:
- Questions 5 :
What are the APYs on ImpulseVen staking platform? What are the steps to follow to stake your Digital Assets?
Hi, i know lots of people are waiting for details about the staking APY.
ImpulseVen Staking Platform was launched in March of this year and the APYs being offered are really attractive:
ImpulseVen offers good and interesting APYs for staking. Please find below the easy steps to follow to stake your VEN Tokens with us and benefit from high APYs.
Stake with ImpulseVen in only 4 Steps:
Step 1: Visit https://stake.impulseven.com
You will see the various staking pools.
Step 2: Choose your desired staking option and connect your wallet.
Step 3: Stake your tokens
Step 4: View your staked tokens in the ImpulseVen dApp and monitor your rewards.
You may also read this medium article about ImpulseVen Staking: https://impulsevencoin.medium.com/impulseven-staking-is-now-live-e7d5774f7cec
- Questions 6 :
What are the security measures that the ImpulseVen developers have taken?
Yes I have been waiting for this question as everyone know security is the main concern for every project so we did like this
Impulseven has already implemented some robust security measures in respect to various types of attack.
The two main ones are as per below:
Chain operator is corrupt
The user is corrupt
In either case, if a user’s assets on the plasma chain have been compromised, they’d need to start mass exiting. Impulseven provides constructions on the rootchain smart contract that can be leveraged.
Security offered by Impulseven Plasma contracts piggybacks on Ethereum’s security. Users funds are only ever at risk if Ethereum fails. Having a plasma chain is as secure as the main chain consensus mechanism.
As a DApp developer if you’d like to build on Impulsevens with a Plasma security guarantee, you are required to write custom predicates for your smart contracts. This basically means writing the external contracts that handle the dispute conditions set in place by the ImpulseVen Plasma constructs.
Apart from pure Plasma security and pure Proof of Stake security that is possible in DApps deployed on Impulseven there is a Hybrid approach that developers can follow — which simply means having both plasma and proof of stake guarantees on some particular workflows of the DApp.
This approach is better understood with an example: Consider a gaming DApp with a set of smart contracts that describes the game’s logic. Let’s say the game uses its own erc20 token to reward players. Now, the smart contracts defining the game logic can be deployed on Impulseven sidechain directly guaranteeing Proof of Stake security to the contracts. The erc20 token transfer can be secured with Plasma guarantees and fraud proof embedded in Impulseven root chain contracts.
- Questions 7 :
Does ImpulseVen have any expansion plan in Asia, Africa and Europe?
ImpulseVen has a clear and well-defined expansion strategy on these 3 Continents. We have already started the execution of our plan. ImpulseVen has been scrutinising the different markets and will be working with some Key Partners. Several AMAs will be conducted in multiple Crypto Communities in different countries in the next coming 4 weeks. ImpulseVen will also be partnering with some Top Influencers too and organise lots of webinars and talks to spread the words about ImpulseVen. The success of any Decentralised Finance project depends on the mass adoption of its services. So, please don’t hesitate to share information about ImpulseVen DeFi ecosystem with your peers.
We also have a specific plan for the middle east too.
- Questions 8 :
ImpulseVen was developed on Ethereum Blockchain. Do you think the high gas fee would be a major problem for ImpulseVen? Is the team working on a solution with regard to this issue?
Yes for every new project high gas fees is a problem but we know how to tackle this specific issue. We will make our new derivative platform where we will be using our layer2 solutions. Users can also trade Ven tokens and other erc20 tokens and will be charged a minimum gas fee.
Layer 2 refers to a secondary framework or protocol that is built on top of an existing blockchain system. The main goal of these protocols is to solve the transaction speed and scaling difficulties that are being faced by the major cryptocurrency networks.
In a broader sense, layer 2 protocols create a secondary framework, where blockchain transactions can take place independently of the layer 1 (main chain). For this reason, these techniques may also be referred to as “off-chain” scaling solutions.
One of the main advantages of using off-chain solutions is that the main chain doesn’t need to go through any structural change because the second layer is added as an extra layer. As such, layer 2 solutions have the potential to achieve high throughput without sacrificing network security.
In other words, a great portion of the work that would be performed by the main chain can be moved to the second layer. So while the main chain (layer 1) provides security, the second layer offers high throughput, being able to perform hundreds of transactions per second.
Also, it is good to highlight that Ethereum is shifting from proof of work to proof of stake and that the fees would be much lower.
- Questions 9 :
In your Whitepaper, you have mentioned about an AI Arbitrage Trading BOT and a Derivative Platform?Can you please give more details about these?
It is the very first time in the decentralised finance space that a project is using AI to trade. Here are the rationales and benefits of using AI:
We are using AI to feed our smart contracts so that it can detect any price slippage and profit. This AI Arbitrage Bot will make sure there is no front running happening during the trade. First of all, we collect the data from the exchanges by the help of API keys. Then the data is being sent to our cloud centralised server and it will automatically try to find a match. If there is a match, the system will call to your smart contract and then the AI Bot calculates the profit and makes it happen in a fraction of a sec. It is a simple process yet very risky. We are going to cut off all the risk factors from it. There are a lot of holders in the crypto space who have huge amounts of assets and they can benefit from this AI Arbitrage Trading Bot services and make good profit. ImpulseVen has other services where small assets holders can send their assets into a smart contract pool. The Smart Contract will execute all the arbitrage opportunities and make profits. The profits generated will be then distributed to all investors. The investors will be able to generate profit nearly everyday if there are Arbitrage opportunities.
ImpulseVen is going to launch a Decentralised Derivative platform too where users would be able to swap their ERC20 tokens. They would also be able to leverage on our CLP pool too — Up to 20%.
Second Segment : Question From Twitter
- Questions 1 :
#Impulse_Ven works “DEFI SOLUTION”, but, why is that important? Is this really profitable for investors? Can you explain in detail what benefits it offers? Are there any risks involved in doing this?
Many crypto investors are adopting Defi solutions around the world. By simply looking at the latest statistics of Uniswap, you will see that there is a rush towards Defi projects.
Uniswap has reached an all time high of $10B trading volume in 1 week!! There are many benefits like less fees compared to Central Exchange, assets remain within the investors’ wallet and are not transferred to third parties, smart contracts ensure the transactions will be duly executed and the Staking and farming products provide good APY.
For Impulseven staking platform, 80% of the fees generated are being redistributed to all the stakers(investors). So Defi works in the interests of its token holders. All assets are being secured through a smart contract and it is very difficult for hackers to reach these assets. Defi benefits from the advantages of using blockchain. I.e. immutability, secured, transparency and traceability.
- Questions 2 :
Reading about IMPULSEVEN,I was struck by the fact that they have ERC20 mechanism, and they offer that the first 3 months is 0 fees,my question is: how do they sustain the structure of the project by not charging fees for the first 3 months, does this affect IMPULSEVEN’s liquidity?
Impulseven wants to encourage its users with the zero fees for the first 3 months. ImpulseVen will take charge of the trx fees during the period. This will have a little effect on the liquidity but we have already made provision for this. We want to give our users this particular benefit for the first 3 months. We will cover this cost thereafter. At ImpulseVen, we are not greedy and we want a Defi ecosystem which will work in the interests of its users.
- Questions 3 :
From @EbrahimKholil42 :
Many new projects made a good impression at first but were suddenly abandoned. My question is, how will you manage your project to gain a place in the market and become a best token in the blockchain world?
Yes, this is true. Most of the Defi projects are anonymous, but when you see Impulseven, you have real faces on the website. We have a long-term plan and we really want to be successful. The community is at the heart of all that we are doing. With all the products and services that we are launching, we are confident that our users will stay with Impulseven and try to benefit from the high APY being offered for staking and farming.
Our project is being managed by a professional team with lots of experience. Impulseven really means business. In terms of market growth and expansion, as stated earlier, we have a clear plan and we will be partnering with key media houses, influencers, and AMAs communities around the world.
- Questions 4 :
a lot of scam projects out there, guess what guarantees that your project is different from them?
Yes there are a lot of difference between us and scammy projects out there in the market we are not anonymous you can check all the members behind Impulseven just click this link https://Impulseven.com and everything is updated at there, we are already locked our tokens in smart contracts and it will be released by monthly vesting every contract has been audited and tested perfectly and anyone can check the audit report from etherscan and we are delivering everything what we have promised earlier. We are looking for a lot of partnerships and listings on tier 1 exchanges. Most importantly we have a strong and experienced team.
- Questions 5 :
This is my first time seeing this project, and I believe there are some people who are just like me, so my question is how do you attract and convince a new users, customer or Investors to join your project, and how important is the community to you?
Definitely, we listen carefully to our community and try to respond to all their queries. And we do take their feedback into consideration and discuss internally and implement changes if need be.
Our platform offers several combined products which makes the project unique. The revolutionary ImpulseVen stack makes us the one-stop-shop for everything in DeFi.
We are especially proud about the AI Arbitrage Trading Bot, which makes ImpulseVen even more special!
Fourth Segment : Questions From Member
- Questions 1 :
Is the $VEN token already listed on an exchange or DEX, CEX and how do you get your $VEN token?
Yes itsliste on uniswap and bilaxy r soon it will be listed on some major exchanges from here you can buy for now
Yes, we are listed on Uniswap and going to be listed onCoinsbit very soon. You can get your token on Uniswap.
- Questions 2 :
While you build your project.. do you take into account community feedbacks and demands?What’s role play community on Your project?
Indeed, very much so. Yes we do consider feedbacks from our community. We care about our community because they are the persons who use the platform. We are guided by our community.
Defi is a project by the people for the people
- Questions 3 :
Could you tell me a little bit about Your roadmap going forward, how do you plan onboarding users and gaining more adoption for Your project?
Up to now, we have respected and delivered all milestones as per our roadmap. Like mentioned earlier, we have a clear expansion & marketing plan. We are going to reach out to lots of crypto enthusiasts and the public in general through several channels.
- Questions 4 :
🎳🏀Q.1-Increasing Token price
2- make Token Valuable
3-Building Community Trust
From 3 aspects above,. I want to ask,. Which one the most important for you??
If all above are important for you,. Which one that Will you do first??
All 3 are same important so at first we are going to work on building community trust
Read more about ImpulseVen at the link below :
Official Website : https://www.impulseven.com/
Twitter : https://twitter.com/impulse_ven
Medium : https://medium.com/@impulsevencoin
Linkedin : https://www.linkedin.com/company/impulseven/
Telegram : https://t.me/ImpulseVen