ChainDot Finance AMA Recap With Neng Yuni Forum

22 min readFeb 5, 2021

Dear Community, Welcome to the recap of our AMA with ChainDot Finance.

Our vibrant and enthusiastic community had a lot question to ask. To those who want to know quickly what ChainDot Finance is about, we are sure this recap gonna help you. So without further, continue reading.

Speaker : Matthew Joddorowsky — CTO of ChainDot Finance

First Session Project Introduction

Before we start AMA, Could you give an introduction of yourself and how can play an important role in ChainDot FInance?

Mr. Matthew: Sure. I’ve been a game/finance loving technology enthusiast all my life, with a passion for exploring emerging technology. I had the joy and pleasure of working with the some of the most successful online games of all time at major software houses, and have experimented and explored everything from independent game design to tools for efficiently interact with smart contracts.

I am bringing my skills and my experience on ChainDot team. Very important is that I come from mainstream softwares company and I have many links in the “legacy” finance since I worked as contractor for many banks helping them with gaming experiences and mixed reality for some of their promotional events.

Q1. What is ChainDot Finance? And how is the story behind the ChainDot Finance creation?

Mr. Matthew: ChainDot is the new web3 top-notch product bringing a complete DeFi ecosystem gathering together, under a single project, all the most exciting and useful features of smart contracts, Dapps and blockchains.

I knew Jason, one of the founder of ChainDot finance since high-school. We took two different working paths as I went more in the gaming software field and he’s a financial advisor and entrepreneur. We always been in contact and had many hobby projects together after the school years until he came up with the ChainDot idea nearly 1,5 years ago. We then started working more seriously on the project until we decided to make the final bet: leave our 9–5 jobs and put all our efforts and life in this project. This because we strongly believe in Cryptocurrencies and blockchain financial and ethical revolution.

So after 1 and more year of development, ideas, trial and errors we came up with this great and innovative project with a talented team and a great backing of investors ready to push ChainDot to DeFi top ten list.

Q2. What is so exciting about ChainDot Finance, which might make ChainDot different from all other project out there?

Mr. Matthew: While other project focus on a single product, ChainDot is a more like an hub and a complete ecosystem for a true and solid, forward looking Decentralized Finance ecosystem.

In fact ChainDot has an anonymous transaction mixer (ChainAnon) which enable secure and anon Ethereum transactions. Anonimity is a big concern in cryptocurrencies and ETH lacks of a proper anonymous transactions system and smart contract environment. Here comes ChainAnon, the anon mixer of ChainDot Finance.

But we also offer to our token holders other amazing product out of the box: a governance token, staking capabilities so that holders can earn passive income, farming platform, decentralized oracle and a few more products which are still in WIP stage and can’t be disclosed to public yet.

You can read all the detailed information on our website https://chaindot.finance

Q3. Please provide some information about your roadmap, How ChainDot Finance is progressing so far? And what ChainDot is currently focused on?

Mr. Matthew: *TECH ROADMAP*

(Ad maiora!)

- PRIVATE SALE CROWDFUNDING

6–13 February 2021

- PUBLIC SALE CROWDFUNDING

20 February — 20 March 2021

- TOKEN RELEASE & UNISWAP LISTING

23 March 2021

- ChainDot Anon Mixer Smart Contract mainnet deploy

23 April 2021

- ChainDot Oracle testnet deploy

Summer 2021

— — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — -

These days I’m focused on building a flagship product for ChainDot with a super hype, and I’m thrilled to have the opportunity to bring all the benefits of blockchain mixed with privacy features to mainstream adoption. Obtaining privacy yet provable ownership demonstrability and funds disclosement is the step needed to obtain a legal compliant statu-quo of the blockchain technology when it comes to mainstream finance regulation. All the capabilities of ChainDot makes it perfect to fit the role of the first and most advanced privacy based DeFi project.

Q4. Please tell us more about your token $CHOT? what utilities does the token have and How buy in presale?

Mr. Matthew: ChainDot ($CHOT): This is the ERC20 token used for ChainDot ecosystem governance. Users who hold $CHOT can participate in community voting to build and shape the future development path of ChainDot Decentralized Finance ecosystem. $CHOT token holders can influence decisions concerning the project such as proposing or deciding on new feature proposals and even changing the governance system itself.

$CHOT has a deflationary logic which never inflate the supply and thus reduce the number of circulating coins periodically with burning of tokens. Increasing scarcity over time is the only way to sustain prices and avoid market dumps. Market will be more stable and prices will most probably only rise thanks to the fair distribution of CHOT token.

To purchase $CHOT during presale you have two ways: participate in the private presale starting the 6th of February (this will get your the best buy price of 0.075$ per token) or participate in the public presale starting late February (which gives a great discount too on the market price at 0.1$ per token). When $CHOT will be listed on Uniswap the listing price will be 0.5$ . There will be smart contract dedicated to the presale and users just need to deposit ETH or other accepted tokens into the contract. On the release date $CHOT will be distributed to those addresses who sent ETH to the presale contract accordingly with the price of purchase.

ChainDot has locked liquidity plans to ensure that uniswap pair has always enough liquidity compared to circulating supply and ensuring that no rug pull can be made, so that community can sleep well while holding CHOT

Q5. What are ChainDot Finance upcoming plans, Especially 2021?

Mr. Matthew: Our main plans are to disrupt the scene of DeFi with our project and become at least on of the TOP25 projects by both volume and marketcap.

We are confident ChainDot can do this and it will :)

More technically we’ll follow the roadmap as posted above

Blog posts will be used to mantain an updated status of the development and of what is going on hunder the hood for ChainDot Finance.

The plans are great and the planners are amazing, so it will be a success

Second Session “Twitter Question”

Q1. Creating a token is easy, but it takes professional intelligence to keep it valuable in the long term. So what is your plan to make the ChainDot token valuable in the long run?

Mr. Matthew: This is a very interesting question since we gave a lot of attention and care to this side of the coin’s management.

Our long-term plans to keep the value of ChainDot tokens to always higher level is based on three main factors:

- Increase usability with strategic partnerships

- Decrease coin supply circulation with periodical burning processes and thus increase scarcity over time.

- Proper funds management as we scheduled, you can read the details below.

Funds from private presale will be managed according to the following plan:

25% of Private presale funds will be locked as Uniswap trading liquidity.

25% of Private presale funds will be used to execute market buybacks, with a regular and scheduled basis.

25% of Private presale funds will be used to continue development and hire new team members to boost the production rate and reach development goals faster and better.

15% of Private presale funds will be used for marketing purposes to raise awareness about ChainDot in the cryptospace.

10% of Private presale funds will be locked in timelocked wallet and will remain unspendable until 2023.

Funds from public presale will be managed according to the following plan:

35% of Public presale funds will be locked as Uniswap trading liquidity.

25% of Public presale funds will be used to continue development and hire new team members/external auditors to boost the production rate and reach development goals faster and better.

10% of Public presale funds will be used for marketing purposes to raise awareness about ChainDot in the cryptospace

15% of Public presale funds will be used to execute market buybacks, with a regular and scheduled basis.

5% of Public presale funds will be used to provide mixing liquidity for ChainDot Anon mixer app.

5% of Public presale funds will be locked in timelocked wallet and will remain unspendable until 2023

5% of Public presale funds will be used pay fees for CEX listings

last but not least having an underlying product which is useful and trusted is another point we take a lot into consideration when dealing with a medium-long term development and economic sustainability of the project

Q2. What is ChainDot strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally? What services do you provide to the community?

Mr. Matthew: We are not that kind of team which is never available to speak with or similar. We are simple guys and girls like you which put lot of efforts and work in what they do, and we aim to do it at our best!

We believe a lot in the concept of community driven project. Being part of a community gives us a sense of belonging. It enables us to share personal relatedness and support perpetual growth of each other, ourselves and our environment.

Our motto is SUPPORT, SHARING, CONNECTION.

Being part of a shared space, whether physical or virtual, gives people the chance to be inspired, solve problems, share humour, vent their frustrations and share their achievements. People who stay within a community are the ones that agree passionately with its values and with these shared beliefs, trust and togetherness, there’s no limit to what they can do for their community. Bringing together like-minded people who are headed for the same goal undoubtedly, nurtures a rewarding community.

We will provide many services to our community including VIP programs, free giveaways and airdrops, community tasks, community games and much more. It will be fun for everyone ;)

Q3. What is the mission of ChainDot Finance in the competitive market of cryocurrencies? And what marketing strategies are you willing to use to achieve greater adoption?

Mr. Matthew: The mission of ChainDot Finance is to bring accessible yet secure decentralized financial instruments to anyone, anywhere in the world while shaping the future of finance, with web3 and smart contracts technologies. With anonymity and privacy in mind we will push on this marketing side consistently

As already explained we will focus on strategic long term based partnership instead of spending useless google ads campaigns in example

We will narrow our target to the crypto community first then expand to a wider audience with the right partners which we are already have involved in this early stages of the ChainDot project.

Q4. How Chaindot to unite the complete DeFi ecosystem, under one project, all the most interesting and useful features of smart contracts, Dapps and blockchain?

Mr. Matthew: Given that ChainDot finance ecosystem is not limited to a single product concerning DeFi avantgarde technologies being a $CHOT holders give significant advantages using all the ChainDot sub products.

I’ll give a general overview of how ChainDot Finance ecosystem will be structured and which are the main tokens involved in ChainDot tokenomics.

ChainDot Finance is composed by the following core products, which all refer to the main token as the core product.

ChainDot ($CHOT): This is the core product, the ERC20 token used for ChainDot ecosystem governance. Users who hold $CHOT can participate in community voting to build and shape the future development path of ChainDot Decentralized Finance ecosystem. $CHOT token holders can influence decisions concerning the project such as proposing or deciding on new feature proposals and even changing the governance system itself.

ChainAnon ($CHON): By default, your entire Ethereum transaction history and balances are public. All transactions can be seen on block explorers like Etherscan, and anyone who knows that you own a particular address can easily view your payments, trace the source of your funds, calculate your holdings, and analyse your on-chain activity. ChainAnon improves transaction privacy by breaking the on-chain link between recipient and destination addresses. It uses a smart contract that accepts ETH deposits that can be withdrawn by a different address. Whenever ETH is withdrawn by the new address, there is no way to link the withdrawal to the deposit, ensuring complete privacy. In this way, ChainAnon acts as a proxy to ensure that the transaction is 100% anonymous with zkSnarks proofs. Using ChainAnon you earn $CHON which are rewarded the more time users keep their coins in the mixing pool, thus increasing also your privacy level. $CHON will be released after $CHOT goes live on ETH mainnet.

ChainFeed ($CHED): ChainFeed is the decentralized feed provider product for the ChainDot Finance ecosystem. “Oracle” is a term in cryptocurrency that is not new, but has become more and more relevant as the decentralized finance (DeFi) space has begun to grow more rapidly. To the uninitiated, an oracle may make you think of a prophet or messenger from mystical times — but in the crypto space, oracle takes on a more down-to-earth role as the messenger between real-world data and blockchains. In cryptocurrency, to be more specific, an oracle provides real-world off-chain data and submits this information to a blockchain to be used by smart contracts. Typically, this is a data feed provided by a third party service. Decentralized oracles are slow and expensive, but manipulating them is expensive as well, and they have a higher degree of liveness guarantee. It is tough to decentralize the process by which off-chain data gets used on-chain, which is why it is often part of a “gradual decentralization” plan. The ability to begin as only partly decentralized — with plans for full decentralization to follow — enables a broader marketplace of ideas to be tested. In fact, there are many DeFi protocols out there that simply can not use a decentralized oracle without greatly reducing the user experience of their product — so they’d rather wait and progress towards decentralization over time.

ChainDot Finance is more like a DeFi hub and not only a DeFi product. This is why ChainDot can gather all these interesting features available in the DeFi ecosystem under a single umbrella.

Q5. Security & User Interface are the Most Important Aspect that Users see on a platform. How has Your Project worked on this?

Mr. Matthew: Our CEO and co-founder Came from financial world so security is one of the main concern during development of such projects. Our smart contracts are audited by third parties security firms and professionals.

We put a lot of research and study on the latest security threats About smart contracts and solidity language. So that we are always up-to-date and we never miss an important change In security practices.

Being the CTO of this project it’s my duty to check that everything is fine on the security side of the code and I do it really seriously. I always read three or four times the same code lines to be sure that we are not missing anything just to give you an example of my precision about this work.

Our server infrastructure where our website is hosted is protected with anti-DDOS and latest security measures. We will be hosting our interfaces gateway on IPFS too to increase this centralisation of the ChainDot protocol and to make it uncensoreable.

The Third Session “Live Question”

Q1. As you know Covid-19 has a large impact in the crypto Market, So How can your company maintain its project and also the team that are working hard during this pandemic?

Mr. Matthew: Being a Decentralized Finance project we born decentralised and spread around the world. As explained in the AMA our project born from people of the same city and county but it quickly expanded including new core team members from all over the world. The beauty and the power of internet technologies makes this possible and COVID won’t stop the DeFi revolution just because we have to meet less than before.

Q2. Which liquidity pools ChainDot using right now for example uniswap, and do you plan to add more liquidity soon?

Mr. Matthew: We plan to use Uniswap as main DEX but we will provide secondary liquidity pools on other DEX for decentralization reasons.

We have a strict and intelligent fund management plan.

ChainDot Liquidity Planning:

To ensure a fair and liquid market for ChainDot we will provide a liquidity plan to cover the initial liquidity on Uniswap or other decentralized exchanges. Locking liquidity means that ChainDot team will supply liquidity to Uniswap trading pool and will make the ETH deposited unspendable, so that they remain locked in the liquidity pool and no owner or anyone else can remove from it.