Crypto Wizards AMA with Pandora Protocol
Guests : Pushkar Vohra and Ankit Raj
Section 1 : Introductory Questions
1.Could you both please provide a quick self-introduction for the community?
Ans- Ankit : My name is Ankit. I am leading the Product at Pandora. I have worked with Red hat, ocean Protocol and been part of Entrepreneur First in the past.
I have been working with Pandora from the last 6 months.!! Its exciting journey so far.
Pushkar : My name is Pushkar Vohra and I have worked with Ethlend ( now AAVE ), co-founded Blockslab and worked with few other DeFi projects before starting Pandora. Also shared many international stages and a TEDx speaker as well. Innovation and Product is at heart.
2.Can you introduce the project Pandora Protocol, what are some of utlities of Pandora ? How do you think you stand out among the competitors if there are any?
Pandora is a hybrid Open Finance solution for the problems faced by both traditional finance and decentralised finance. We envision the transaction of real-world assets on the trustless and decentralised platform in a borderless economy. Our scalable, interoperable and high throughput infrastructure converts the illiquid state of NFT to the liquid state for both Real-world and digital assets.
Technically, Pandora is the middle layer solution that is inducing liquidity to NFT created on Pandora and other platforms. Developers can also plug and play their Dapp to the Pandora Protocol and provide liquidity to the user’s NFT.
Pandora is not competing with any other projects. Instead of competing it is helping other projects to have liquidity induction in their NFT which is unique and innovative.
3. Can you share the achievements the team has made so far ? what are the major achievement target Pandora Protocol is yet to achieve . If possible also share your roadmap.
Ans-In a short period, we were fortunate to build the beta version of our product with very few team members.
Along with that, we have also closed a small amount of early-stage of money to develop the product. On the business side there are 3 products getting built on Pandora.
Our roadmap is built on quarter to quarter basis.
First-quarter we were able to build a Beta version of the product and secure a small fund to develop the product.
In the second quarter, we are going on main-net along with a token launch event.
For the third quarter, we will be working on cross-chain transaction and other innovations.
For last quarter we will start working on DAO structure of Pandora.
Details on Roadmap we are publishing soon on our social media handle.
4. Why did Pandora Protocol had a rebranding recently?
Ans- It was not rebranding as a whole. But there were some major update and changes on website and we build beta product as well . So we have basically upgraded ourself.
5. What is the total supply of the token ? Could you share a detailed tokenomics of main-net token’s supply distribution
Ans- We haven’t shared the complete detailed tokenomics yet. Announcement regarding tokenomics will follow in coming weeks.
We worked a lot on it as well, so a good one for sure
6. When is the IDO or any other fund raising initiatives planned ? What are the Criterions to be met to participate?
Ans- We have closed our fund raising rounds and planning IDO for first week of June. Details will be published a week before IDO. Announcements have to follow in upcoming weeks 😊
Section 2 : Twitter Questions
1. Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?- @Account8595
Ans-We are living in a decentralised world. Vulnerability is something which one can’t skip but can minimise it by taking the various measure. This is what all the best DeFi projects do—we at Pandora not pushing any code on the main-net without getting an audit from a reliable and good security auditing firm. Everything needs to be audited from token contract to SDK; then only it will be pushed to main-net. We have partnered with one of the best security auditing firm.
2. Pandora’s mission is to provide a platform on which real-world assets can be traded without confidence and without friction. How does Pandora reduce the gap between off-chain assets? What schemes do they use?-@luckluckan1
Decentralisation is something which we are stuck from the day from the product architecture point of view.
Pandora SDK is used to bridge the off-chain assets to the on-chain ecosystem via NFT. While tokenising, we have designed various modular components like verifications, onboarding to assets, user and other participants, reputation system and few other things. These components act as checkpoint about the quality of assets and asset owner. And all these works in the decentralised system through Pandora on-chain protocol.
3. How has the experience and background of your team been effective in the success of your project so far and how do you aim to revolutionize the field of blockchain and Defi & NFT?-@doaan01
We are a team of individual experts in the technology and business vertical.
Pandora founder and CEO - Pushkar Vohra has worked with Ethlend ( now AAVE ), founded Blockslab and worked with few other DeFi projects before starting Pandora. He has also been the TedX speaker.
Other teammates like me (Ankit) and Sachin have also worked with various crypto and non-crypto companies like Ocean Protocol, BigChainDB, Red Hat, Blockslabs and few others.
One common thing about most team members is that they have worked with the best DeFi and crypto projects before. We are very much confident about the success of Pandora in the NFT ecosystem.
4. On your Website, I could see many new upcoming products which were quoted as "Coming Soon". Will you explain more about different Products getting build on the Pandora stack and their expected time of arrival at the market?-@BasilBijuK1
Ans- Yeah, there is exciting development going on in this vertical. 3 products are getting built on the Pandora stack.
KylyX : A marketplace for digital and real-world assets.
BOX: A innovation zone built on top of Pandora SDK where cross-chain transaction and few other exciting features coming up.
Kalel: A social token NFT dapp getting built on Pandora.
All three projects are getting built on Pandora and boosting up the NFT ecosystem. More details around that are coming soon.
5. I love Hackethon and it’s healthy for both community and for project itself. Do you have plan to involve community developers and run a Hackethon program?-@MdFaysa32472178
Ans-Definitely yes! In our Roadmap, all these are included to boost the developer community. We will have various hackathon on a different theme and grants for the project getting built on Pandora.
Section 3 : Live QnA
1. The road map tells us '’what you have planned until 2021’’❓ with this being crypto that’s a very short road map‼️ What are the plans for the future, and do you hope to do❓
Ans-Yes we do have ! But first things first.
2. No one can achieve anything valuable on its own, please tell us about your current and future partnerships that will lead you to success in this highly cramped crypto space?
Ans-We have partnered with unmarshal and oropocket . Few other partnerships are also on pipeline..
3. Do you have any strategic partners as well as investors on your project?
Ans- Yes, please do join our tg group for all the relevant info
4. What are your targeted customers and audiences for the market?what are your strategies to aware for non english community?
Ans- Developers, product owners , assets owners (digital asset and real world asset )
5."Turn your real assets into digital assets using NFT with our unique and innovative approach" which innovative do you mean? is it different from other NFT Projects?
Ans- Cross chain transaction.
Liquidity induction for each NFT