Date : 21 JANUARY 2022
Time : 12:00 PM UTC
Guest : Mr. Pierre Cumenal (CEO) & Ms. Vittoria Lanzarotti (Head of Marketing)
Venue : https://t.me/Crypto_Talkzs
Website : http://kibo.finance/
✨ Mr. Pierre Cumenal (CEO) & Ms. Vittoria Lanzarotti (Head of Marketing) shared us details about KIBO and it’s unique Features ✨
Host : 👋Hello Chat , Welcome to another exclusive Crypto Talkz AMA❤️
Today with us, we have @kibofinance !
Hello and welcome to our community, I’m glad you here to join the AMA today! @PeteKibo Vittoria 🙂
Pierre: Thanks for having us, glad to be there to discuss more about our project Kibo Finance
Amazing, very excited to share with our community and with new joiners !
Vittoria: Glad to be here to answer all questions about Kibo 💪
Could you start by introducing yourself and perhaps regarding the key team behind Kibo Finance to us? What kind of backgrounds do you guys have prior to Kibo Finance?
Pierre: I’m Pierre the CEO and Founder of Kibo, i have a financial background working in the city of London for 6 years where i was a Quant doing pricing for derivatives and options.
Our core dev team consists of Baptist our CTO, Xavier and Thibaut together they have accumulated a solid experience in the blockchain industry working for example with Deribit or Artblock.
Vittoria: I am Vittoria, the Head of Marketing for KIBO. I graduated in Switzerland in Business Management with Marketing Specialization and have 10 years experience working in the luxury sector worldwide from Paris,to Switzerland as well as overseas.
I oversee a great, small team which consists of multiple members all with a different background and from various nationalities. Each of them focuses on and works on specific goals of our Marketing strategy , like managing our fast growing community and preparing promotional and engaging campaigns. Research and innovation are some of the core values of both our technical progress as well as our Marketing strategy.
Can you give an overview of KIBO as a whole? What’s the project about and what kind of underlying issues do you intend to solve in the market?
Pierre: Kibo’s initial origin actually dates back to 2019 when I was awarded 30 under 30 by QuantMind for my essay about the blockchain and option market.
Kibo aims to be an intuitive options trading platform, solving the problem of liquidity and allowing users to trade options on more underlying assets than any of our competitors.
Kibo will provide a frictionless trading experience on decentralized options without having to rely on intermediaries and therefore avoiding unnecessary fees. 💰💰
May I ask at this point, do you already have some partnerships lined up and can you share with us some information about the investors?
We are constantly looking for and building new partnerships, thanks to our incredible line-up of investors in our seed round, which was recently closed at $1.5Million.
We already have the key contacts to proceed further with renowned exchanges , such as Huobi and Gates.io which have already invested, , with market makers out of which GSR or MGNR invested, Republic leading as Public sales token specialist and finally also Blockchain key figures like Sandeep from Polygon.🔥🔥
Then, How important is the community to your project?
Vittoria: Our community is our most valuable asset and the feedback we receive are always taken into consideration in order to ensure that we will provide the best experience for our users.
We aim to design a solid product with innovative tokenomics and our Marketing Team is working hard to build a strong, organic community and engage community members with exciting as well as rewarding campaigns. 💸💸💸
And lastly, Could you please provide some progress on your Roadmap and what results KIBO has achieved so far?
Pierre: From a development perspective, Kibo was initially a three stage protocoles, a proof of concept that we called V0, then V1 and V2.
We finished coding V0 a few months ago and we offered users access to testnet. With V1 being way in advance compared to the initially expected release date, we decided to not make V0 mainnet and directly wait for V1 which will offer users a unique experience.
From a marketing perspective we managed to significantly increase our community with various promotional and rewarding campaigns and are now focusing on building brand awareness to ensure we have a solid community once we are ready for the launch.
Q1. Staking and yield farms are most attractive feature of Defi. So, are we going to enjoy these options too with your project? If yes, how will you solve the problem of low liquidity by incentivizing liquidity providers? Will your staking come with time lock or not?
We totally agree with you, strong tokenomics is important and Kibo’s one is definitely a unique one : the protocol will own its liquidity and therefore there are, strictly speaking, no LPs on Kibo.
Users will be able to mint discounted pKBT, the product of the minting will be used to provide liquidity on the protocol which will be then owned by the DAO. Users holding pKBT will then be able to decide if they prefer to sell them on the market, stack them, or wrap them into KBT and start collecting protocol fees till they are converted into KBT.
KBT holders will instead be able to lock their token to collect the fees generated by the protocol.
The time lock for the stacking is still subject to discussion, and for the time being there will be no time lock. The lock will happen when people mint discounted pKBT and we foresee that the vesting will be around one week. 🚀🚀
Q2. What is the role of token in the ecosystem? Where can people currently buy it?what would be its used?
We have dual token approach using pKBT and KBT:
The KBT is the protocol token controlling the DAO and getting paid the fees generated on the protocol when holders lock their KBT. In the future users holding KBT will also be rewarded with perks on the platform, such as boosted premium when selling options, or discount on trading fees.
pKBT can be seen as a discounted future on the KBT and users can use them in 2 different ways.
Option 1 is for them to mint pKBT and stack them in which case it will be considered as a futures on discounted KBT.
Option 2 is for them to sell on the market or wrap them into KBT to start collecting fees until they are unwrapped for real KBT.
Even in our tokenomics we introduced some gaming features which allow the user to decide themselves what to do :
Stack and collect as much pKBT as possible ? ✅
Be the first and only one to wrap your pKBT into KBT and collect all the fees of the protocol alone ? ✅
Do you prefer high APY all the time ? ✅
Do you prefer less KBT but higher reward fees ? ✅
With Kibo you can choose and we let you maximize your ROI. 🔥🔥
Q3. Q.1What are your marketing strategies and how will you have a global expansion and adoption for your #KiboProtocol project where English is not spoken❓What are your next upcoming priorities? What is in your roadmap❓
We are lucky to have members of our Marketing Team coming from all over the world and speaking various languages, which will definitely help to expand the community and reach expansion through all continents. 💪🔥
Furthermore, our investors will play a huge role in helping build new connections and partnerships worldwide and creating a network of contacts which will allow us to widely expand. 🔝
Our current priorities are:
➡Ensuring a solid product and continue to enhance it
➡Finalize protocol implementation
➡Grow a strong community
➡Build new partnerships
Q4. A limiting factor in Options Trading is the lack of simplicity and transparency of the entire process. How is options trading on Kibo Finance simplified and how does it enhance the user experience? Also, why don’t you use a third-party oracle and use the Oracle IM you created?
That’s a very interesting question: our aim with Kibo is to make option trading accessible to anyone by introducing some gamification of the experience. Kibo is an intuitive, easy to use platform and anyone would be able to simply understand what they are buying and what is the payoff. 🤝🤝🤝
Moreover we faced the liquidity issue by offering deeper liquidity and an innovative architecture will enhance and make the user experience uncomparable. With regards to the Oracle we will use a third-party one for options on ETH and BTC as there is a market for them and implied volatility is easily accessible.
Q5. You said that Kibo’s unique engineering allows LPs to earn up to 10x more reward. Please explain this unique technique and what makes Kibo so rewarding? Is there any degree of risk for LP providers when the rewards are this high? How do I become an LP in Kibo Finance?
On an option protocol the liquidity is used to buy options to traders but is also locked as a collateral when traders are buying options on the pool. In other words when a trader buys one Call option on ETH the protocol needs to lock 1 ETH in collateral, and you see that a protocol with 1000 ETH of liquidity would be able to only sell 1000 Call options.
👉We use two mechanisms to avoid locking 1 ETH in collateral for each ETH Call we sell while ensuring there is enough collateral. The first one consists in using the option bought by the pool, for example, a trader sold (minted) 1 ETH Call to the pool, the pool can then sell to another trader 1 ETH Call without posting ETH as a collateral as the pool is perfectly hedged. Following this mechanism the price automatically adjusts to help the pool being always around perfect hedge. The second mechanism is rather technical ( I won’t go too much in detail ), but long story short we managed to solve the strike fragmentation problem. In other words we are able to hedge options on different strikes togethers.
These two mechanisms allow us to reduce the amount of token to put in collateral, hence bringing 1ETH of liquidity will not be used to sell 1 ETH Call option but many more, hence generating much more rewards.
Fundamental feature is Kibo owning its liquidity, using a mechanism where users will be able to mint a token by swapping the liquidity they provided, then, using various mechanisms they will be able to convert these tokens into discounted KBT. Kibo owning the liquidity means there are no liquidity risks for the individual LPs.
Telegram Live Segment
Can you list 1-3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
-I read that the engineering that Kibo possesses allows LPs to earn up to 10 times more rewards. Can you tell us what this model is all about and how it achieves this level of performance? How do you ensure that LPs receive the maximum return on capital through this design?
Revenue is an important aspect for all projects to survive and maintain the project / company. What is the way to generate profit / revenue of token? What is the income model?
My question Sir,
Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?
Southeast Asia is a very vibrant market and there are many new platforms under development. So what do you think about Southeast Asia and do you have plans to grow there?
Thank you very mich for your question! We definitely want to expand globally and our great network of investors and exchanges based in Asia will definitely assist us in this. We have a renowned net of collaborations in Asia such as DFG, KENETIC, FERNBUSHI, HUOBI, GATE which are continuously helping us building new connections 💪🔥
Host : Thanks for diving us deeper unto KIBO. Chat thanks also for those great questions.
Its time for Wrapping Up, any other things you want to share with the communities? @PeteKibo @Viky1710 🙂
Vittoria : We would like to thank every one who took the time to join us today and invite you to follow us on our social platforms to keep updated with our new campaigns and news!!🔥
Pierre : Thank you for attending and all you great question, continue to follow for more giveway, news about the project, release date and more.
📌 Here below are links for you to get the latest update about KIBO Finance
Telegram News Channel: https://t.me/KiboFinance_Announcements