BSCDaily.com hosts Dios Finance: #Dios #DiosFinance #Finance #BSCDaily #BSC
BSCDaily Admin: Hello Jim and how are you doing on this fine day?
JM | DIOS Finance: Quite good, thank you!
Hope you all Merry Christmas and Happy Holiday.
BSCDaily Admin: Thank you Jim, are you ready to start the AMA?
JM | DIOS Finance: I’m ready. Ecstatic to be here today with you guys.
BSCDaily Admin: And I’m sure the people would love to get to know Dios Finance.
Q1: First, please introduce to us about the inspiration behind Dios Finance and its mission?
JM | DIOS Finance: Frankly speaking, we are inspired by OlympusDAO and their idea of a reserve currency that is backed by a basket of assets instead of being pegged with the US dollar through the act of printing and burning. We all know about the current situation of the printing of the US dollar in recent years due to some… questionable decisions and where that might lead to.
The idea from OlympusDAO is brilliant but it does have a fatal flaw: Ethereum. Ethereum isn’t what it used to be. Now the fees for transactions are so high and take so much time that only whales can do anything meaningful or groundbreaking there. Thus we think of bringing the Olympus experience to BSC where the gas price is cheap and processing time is low. We aim to grow the project to provide a clean source of liquidity for BSC projects and become a common trading currency on BSC.
Q2: What about the Team behind this project? Who are you and what are your past experiences?
JM | DIOS Finance: At the moment, we prefer to keep our anonymity. In general, I can say we are a team of crypto enthusiasts that got fed up with the increasing inconveniences of Ethereum and wanted to explore more improved, highly promising blockchains that put user experience above other things.
We’ve got a fair share of knowledge in the DeFi space particularly and the crypto scene in general, joining from mid-2017. We’d had our hands on pretty much every architecture and model there is.
Q3: Can you tell us more about your $DIOS, its tokenomics as well as some of its use cases?
JM | DIOS Finance: $DIOS is the core of our project, being the token that drives everything. $DIOS, due to be a rebase token in design, has no upper cap. The supply will change every rebase according to the price of $DIOS. If the price is above 1$ then the Treasury will print an amount equal to the inflation ratio and distribute it to stakers. If the price ever drops below 1$, the Treasury will trigger automatic buyback and burning of DIOS and all printing will be halted.
We are currently in the first phase of the project where we are finding a foothold and accumulate liquidity + assets to back the $DIOS token. In later stages, you can expect to use $DIOS for lending/borrowing, lottery, binary option, etc…
Q4: Does your token get audited? And how can we buy it?
JM | DIOS Finance: It is indeed quite new. Less than 3 weeks old infant.
About the auditing, our token is currently ongoing Certik audition. You can find it here https://www.certik.com/projects/diosfinance.
PeckShield is under negotiation, Hacken deal has been sealed while Mist is being contacted. In the future, we will of course revisit these audit to make sure we have a healthy and secure codebase.
Regarding where to buy, you can buy $DIOS for very cheap via the Bond page (https://app.dios.finance/#/bonds) using BUSD or DIOS/BUSD LP which offer good discount compared to the market price with two conditions:
1/ Bond has a linear vesting period of 5 days.
2/ The more Bond purchased, the higher the Bond price will be. It is based on the first come first serve rule with a twist that the cheaper the Bond price is, the less you can buy at a time.
If too many people are buying Bond at the same time, buying $DIOS directly from PancakeSwap might be a better option. We have a swap page that uses PCS router so you can conveniently buy $DIOS or make DIOS/BUSD LP without leaving our website UI: https://swap.dios.finance/swap
Q5: What plans do you have for the future? What more does Dios Finance have in store for us?
JM | DIOS Finance: In the future, we will extend out and become a DEX of our own using the liquidity from our Treasury while the stablecoins like BUSD or Tether will be used in lending/borrowing protocol, bringing in revenue and further reinforcing the backing of $DIOS. This is quite a challenging goal but we know it is possible if the project can grow big enough.
Some other fun upgrades might include Lottery, Prediction Market, Auto-Staking of pending/vesting Bond, Cross-Chain Bonding/Staking and even Multi-Chain Swapping.
However, I do want to add that the future will always be uncertain and we will always ever evolving to keep up with all that future might hold.
Q6: How are you different from and better than other similar staking, bonding or yield farming projects?
JM | DIOS Finance: Generally speaking, we are not your familiar Staking or Yield Farming project where people come in, rent out their liquidity, mint a bunch, dump the token to oblivion, withdraw their liquidity and move on. The main focus of our project is the Treasury mechanic and the Bonding function that fuel it. With DIOS, instead of renting out liquidity, users are encouraged to exchange their LP to the Treasury for discounted DIOS. Through this, the Treasury will be the owner of the liquidity and ensure that there will always be liquidity for the project’s operations. The Treasury, with all the assets acquired, will keep the price higher than 1$ and continuously increase its value by lending out the stablecoins available.
All this is done to ensure that $DIOS will always have a safety net to fall back to, thus encouraging Staking $DIOS to earn rebase rewards. The more you stake and the earlier you stake, the better thanks to auto-compounding Staking reward.
Q7: So can you walk us through your roadmap in the next year 2022?
JM | DIOS Finance: Alright.
So, we expect to finish all audits with security firms like Certik or PeckShield by the end of the next quarter. Chain Link Data Feeds will also be negotiated in this time span.
In the second quarter, Lending/Borrowing with DIOS and sDIOS as collateral will launch along with a mobile DApp to help users manage their investment with Dios.
In the remaining 6 months, we will work to fix the bugs of the DApp and stabilize it even more. At this time, Lottery mini-game and perhaps Prediction Market will be introduced to the protocol.
I do want to add that we will expand to other chains if there is demand from the DAO, starting from quarter 3.
Q8: Where can we find out more about Dios Finance?
JM | DIOS Finance: You can check out our project at:
— Main Website: dios.finance
— DApp: app.dios.finance
— Twitter: https://twitter.com/DiosFinance
— Telegram Announcement: https://t.me/dios_announcement
— Telegram Community: https://t.me/dios_community
— Korea Telegram Community: https://t.me/dios_korea_community
— Discord: https://discord.gg/aNhJmJXKEW
— Medium: https://medium.com/@diosfinance
— Email for inquiries and proposals: [email protected]
BSCDaily Admin: With this we are now at the end of our AMA session with Dios Finance 🔥🔥🔥
Time for wrapping up, any last words you would like to say to our community?
JM | DIOS Finance: I would like to thank the awesome BSCdaily for having me here today.
It is a pleasure to answer questions from you guys. Too bad we can’t dive deeper into many more aspects but hey, that might just be the chance for a future meetup.
Merry Christmas and Happy New Year folks.
BSCDaily Admin: Merry Christmas to you and Dios Finance too! Happy New Year and best of luck.