Recap of the NodeDAO AMA with Blockchain Space
On Monday, April 25th, we had the pleasure to welcome to our Telegram chat:
Dr. Peng Zhou, The CAO at NodeDAO.
We asked him questions about the development of NodeDAO.
Q~ Thanks for joining us today, could you introduce yourself to our community firstly ?
A~ Sure, I’m Dr. Peng Zhou.
I hold a first-class degree in Philosophy from Peking University and an MSc in Economics and Finance from York University.
Following my Ph.D., I was a lecturer in Economics and Finance at Cardiff Metropolitan University and a visiting lecturer at Cardiff University.
In addition, my research in macroeconomics, entrepreneurship, and policy evaluation has been published in professional books and peer-reviewed journals such as Regional Studies and Consumer Journal of Consumer Behavior.
At the same time, I also have extensive experience in the blockchain.
Q~ What is NodeDAO ?
A~ NodeDAO is a DAO-oriented vault or a decentralized insurance protocol.
It mainly benefits users by providing risk support services for valuable DeFi projects.
Q~ Has NodeDAO launched a blockchain insurance product? How are insurance premiums calculated ?
A~ Yes. NodeDAO has launched the platform’s first insurance product, NodeINS, which provides insurance for users who hold most ERC-20 tokens.
Insurance premiums will be calculated based on the price path of the underlying asset and the option pricing model.
When the price of the insurance token reaches the value specified in the contract, NodeINS will pay compensation to the user according to the purchased amount and the compensation ratio.
It is worth mentioning that after the user registers with the wallet and successfully pays the premium, NodeDAO will also generate an NFT insurance contract for the user, including exercise price, expiration time, compensation ratio, compensation amount, etc. Each contract will be unique.
Q~ In concepts similar to NodeDAO, OHM and Convex have occupied the head position. What is special about NodeDAO ?
A~ It’s a great question
NodeDAO abandoned the traditional way of issuing additional shares and mining to stimulate liquidity.
It provides NED tokens through bonds. Bond buyers exchange NED with insurance collateral providers (LP) tokens (USDT, USDC, BUSD, DAI) at a discounted price (lower than the market price).
The fund pool model and the original token NED can also empower the entire NodeDAO ecosystem, help projects avoid the “death spiral” trap, and lead the next hot track in the blockchain industry.
Q~ What is the native token of NodeDAO? How is it distributed ?
A~ Token symbol: NED
The distribution is as follows:
First issue: 30,000
Staking rate of return: 100%
Stakers & Bonders: Added 90% of NED
DAO: Added 10% of NED
Q~ The value of tokens has always been a concern of users. How do you guarantee the value of NED ?
A~ Great question again.
First, to ensure that the circulation quantity of NED in the trading market can match its ecological development, NED can only be mined or destroyed by the protocol. The token holders decide the growth and change of the protocol by voting.
Second, NED is supported by the vault’s portfolio of assets. At least one USDT supports every NED.
To guarantee the value of NED, whenever the price of NED is lower than one USDT, the protocol will automatically buy NED from the market and destroy it.
The protocol controls the assets in the vault. When certain conditions are met, it will mint and burn NED.
Set the destruction permission agreement to support its price. This unique mechanism determines that NED’s price in the market has a vast space for appreciation.
Q~ What is the vision and goal of NodeDAO ?
A~ The vision of NodeDAO is to be a decentralized one-stop insurance platform.
The insurance products of its platform can cover all aspects of users’ insurance needs, including asset price insurance, contract guarantee insurance, NFT insurance, pension insurance, etc., ultimately making decentralized insurance an indispensable part of the DeFi ecosystem.
It will successfully bring the traditional insurance field into a new space of digitization and achieve a leap in the credibility of the insurance industry.
Q~ What plans does NodeDAO have for products shortly? How can users who are interested in NodeDAO learn about your activity ?
A~ We will launch the Test Net soon and send rewards to test network users. You can follow our news in the following ways if you are interested in NodeDAO.
Facebook: Admin Access
QUESTIONS FROM TELEGRAM
Q~ How can I buy tokens from your project. Will you have a program to sell tokens to users in the near future?
A~ Yes, we will launch the Test Net soon. You can follow us on TG.
Q~ Staking programme is very important for any project, can I stake your token. Do you have any plan of starting a staking programme?
A~ We will announce it on our TG.
Q~ What is the most ambitious goal of your project. Could you share with us any upcoming updates?
A~ Our vision is to be a decentralized one-stop insurance platform.
Q~ There’s little information on NodeDAO, I was hoping to learn more, to boost my confidence in the project, will you create a whitepaper?
A~ Yes, you can check it on our web.
Please follow our community, we will announce more details.
Hoping all our users can make money on NodeDAO.
It’s really nice having the NodeDAO project in here!!!
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