Recap of the WallstreetNinja AMA with Blockchain Space
On Wednesday, July 7th, we had the pleasure to welcome to our Telegram chat:
H, The Project Lead at WallstreetNinja, and
F, A Developer and one of the prime movers at WallstreetNinja.
We asked them questions about the development of WallstreetNinja.
INTRODUCTION
Q~ Thanks for joining us today. Please start off by introducing yourself to the Blockchain Space community and your role in the team ?
A~
WSN H : Pleasure to be here. You can call me H. I have a background in finance and technology. I’m also very passionate about decentralization, consequently have been active in this space for over a decade. My role in the WSN team is project lead.
WSN F : Hi All. H and myself (F) are the prime movers of the project. After an IT career in the private sector, I left to focus on entrepreneurship and have since been involved in a number of projects and businesses.
I have a passion for finance and technology, DeFi fits right in.
We are here to take DeFi to the next level, complete decentralization.
Q~ Tell us what WallstreetNinja is, how it works, and what kind of value the platform adds to the ever expanding DeFi ecosystem ?
A~ The WallStreetNinja Finance Suite is an unstoppable finance solution, where users can access the DeFi ecosystem chain of their choice, in a more simplistic manner, broadening accessibility and fostering mainstream adoption.
We feel the barrier to adoption is the need to install browser extensions and smartphone wallet apps. There are already a multitude of protocols and liquidity available within the DeFi ecosystem, but largely inaccessible to the average person. Essentially we want to give people accessibility to existing infrastructure in a more user friendly fashion.
Our competitive advantage is full stack decentralization, hence making it unstoppable, as well as the ease of use.
Xiaolin : So with WSN Finance suite we users don’t need to install browser extensions and apps ?
WSN H : No. We do away with plugins and extensions. That is one of our USPs.
Q~ Can you share with us detailed information on the $WSN tokenomics and it’s usecases ?
A~ Users are required to stake WSN tokens to access various features of WSNS.
Monthly subscription fees paid in WSN will unlock further functionality and advanced features.
The subscription fees paid in WSN will be used for burning events, rewards and funding of further technology developments.
Token Utility
Burning (governed burning events. using revenues generated by the platform to purchase WSN tokens from the market and sending to a burn address.)
Staking (NFT’s, Interest Bearing Tokens, Single Tokens, LP Tokens)
Referrals
Participation (farming)
Decentralized Governance
Proposals
Rewards
Voting
Monetary Control
Participation rewards
Xiaolin : The tokenomics has not been decided/released yet right ?
WSN H : Yes. They are available.
They are also included in the whitepaper
Q~ Did you raise funds so far? If so, how did you handle them? Are you planning to do any future raises ?
A~ WallStreetNinja has been incubated by Darkpool Ventures, an incubation, advisory and project listing strategist with a solid track record of incubations and advisory services.
With Darkpool Ventures as our main partner, its strategy and advisory services will be provided along with their long standing market experience and deep industry relationships.
We have already completed our seed round and are currently conducting the private round. In the future we plan to undertake a public sale in the form of an IEO and IDO.
Q~ Can you give us an update on what the team at WallstreetNinja has accomplished till date and your future plans for WallstreetNinja ?
A~ We have completed the user interface design and prototype. Development works are underway on the back/front end.
QUESTIONS FROM TELEGRAM
Q~ Why did you decide to host your financial suite on Dfinity’s Internet Computer, given the array of other blockchain options?
A~ There are not many options for decentralized hosting. Internet Computer is the most mainstream, however, we are also working with StackOS which is also a great solution.
Q~ According to their roadmap I could see that in the 4Q of this year they plan to launch Launchpad, Lending, Borrowing. My question is, at the time of lending or borrowing is it necessary to comply with a verification such as a KYC? Will there be some kind of control to guarantee safety?
A~ We do not intend to have KYC in our platform. That is why it is called Unstoppable DeFi, because even if someone has a problem with us not having KYC, nobody can stop the platform from running because it has full stack decentralization. To ensure safety, we will have the technology thoroughly audited, pen tested and run an on going bug bounty, not to mention it will be open source.
Q~ I noticed that WallStreetNinja’s team is anonymous, is there ant specific reason for it? Do you have plans on staying anon forever or do you have plans on revealing your identities? Aren’t you afraid that a lot of investors won’t trust you because of this?
A~ No, we have no immediate plans to go public. In the best interest of this project it is best to stay anonymous. We feel at some point, global regulators, such as the Financial Action Task Force will start scrutinising the DeFi space, hence we have gone down the Unstoppable path.
Q~ Almost 4/5 of investors are solely concerned with the price of the token in the short term. Could you tell us about the incentives and rewards for long-term investors to keep your token?
A~ In order to gain access to all the features of the WallStreetNinja Suite you must buy and hold the token. As the Platform starts to generate revenue, that revenue will be passed back to the Token Holders in the form of rewards and burning, which will in turn increase the token value.
Q~ Could you tell me about your native WSN token regarding its distribution? What are the different use cases you have? And where can the WSN token be traded?
A~ There is more information about the token distribution and use cases in the tokenomics section in our GitBook (https://wsninja.gitbook.io/wall-street-ninja/wsn-economics). Currently, the WSN token cannot be traded, but after the IEO/IDO we will have a CEX/DEX listing.
CONCLUSION
Join us and become part of the unstoppable finance movement!
It was great to participate in this AMA with such a wonderful community. To commemorate this AMA, we have produced 3 limited edition NFTs specifically for this community.
If anyone in the community would like to enter the draw to win one of these exclusive NFTs, please enter the draw via Gleam.
It’s really nice having the WallstreetNinja project in here!!!
You can check out their Website for more details. You can also follow them on Telegram and Twitter to keep up to date with all things relating to WallstreetNinja.
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