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AMA RECAP: VENICE FINANCE X ONESHOT VENTURES

AMA RECAP: VENICE FINANCE X ONESHOT VENTURES

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On 22nd January, ONESHOT Ventures has a Telegram AMA with Venice Finance.

At the AMA: Alex Park, Head of Marketing at Venice Finance, introduced and shared many interesting information about Venice Finance.

  • PLACE : https://t.me/oneshotventures_chat
  • TIME : 2 PM UTC | 9 PM (UTC +7) | 22nd January 2022
  • Airdrop : 100$

Great, the AMA will be happening as follows:

Part 1 : Introduction
Part 2 : Questions In Website
Part 3 : Questions In Twitter
Part 4 : Questions In Free Asking

ONESHOT: Hello everyone, we’re now getting ready to have our AMA with Venice Finance today. The chat will be muted during the AMA and you’ll be able to talk again once it’s finished.

@alexpark7 Thanks for joining us today! We’re very excited to have you here!

VENICE FINANCE: My pleasure

ONESHOT: Please type “done” at the end of your answers in case that I jump in too early !

To start the AMA, we’ll turn to segment 1: Introduction.

ONESHOT: Can you briefly introduce Venice Finance and yourself ?

VENICE FINANCE: Hi Everyone, this is Alex Park, Head of Marketing at Venice Finance At Venice Finance, I am leading the marketing and growth team to pioneer and innovate the blockchain ecosystem.

After graduating from USC in 2013, I have spent almost 7 years in the Fintech industry and got involved in the Blockchain field in 2019. Before joining Venice, I was the Chief Marketing Officer for a cross-border payment company based in Asia, where I gained valuable insights on the friction & pain points of the legacy payment system. I certainly understand the need to revolutionize every block in the #TradFi system and how blockchain helps transform it with more decentralization and transparency; also, after so many years of experience dealing with kyc providers and capricious regulations, I also understand the importance of privacy preservation to build a real, open, decentralized financial system.

Venice is the next-generation, Zero Knowledge powered decentralized exchange, primarily focused on privacy preservation, front-running resistance and cross-chain liquidity aggregation. At launch, Venice will be the first front-running resistant, privacy-preserving Automated Market Maker (AMM) Decentralized Exchange (DEX) in the world.

Front-running has always been a problem for DEX and AMMs. Front running is When a trader sticks with the deal, watching the price accumulation, and figuring out when to slip past the other traders at the final possible moment to make a profit, since blockchain transactions are broadcast publicly, people on the lookout can spot large deals about to take place and submit their own trades to profit from the scenario. Good news is the Bulletproofs functionality can solve this problem and it is now live on Findora’s privacy-preserving UTXO ledger. Venice supports trades/swaps wherein the asset type and amount are masked, effectively removing any chance of malicious users exploiting the system. It also provides an elegant mechanism to prevent front-running while maintaining the ideology behind a completely decentralized and transparent system.

Choose Venice Finance for the best trading experience, most economical trading cost and safest trading.

ONESHOT: Nice answer !

Can you briefly describe your PARTNERSHIPS so far?

VENICE FINANCE: Right now we are partnering with Tokensoft and several Layer 1 chains. We have already received commitments of $60 million + worth of liquidity from various layer 1 foundations and undisclosed liquidity partners towards the Venice launch. We also have a partnership with Polygon and will deploy on Polygon soon. Polkadot and Web3 Foundation is our infrastructure partner as well. In the near future, Cosmos and Near and Avalanche will be announced soon! We have a number of private investors.

ONESHOT: What services and features are/will be available on Venice Finance?

VENICE FINANCE: Venice is the first-of-its-kind, front-running resistant, privacy-preserving AMM DEX, Venice stands out because of the following strength:

  1. Advanced cryptography algorithms including Bulletproofs, Turbo-PLONK, MPC, etc. to encrypt smart contract inputs. Venice enjoys a function of front-running resistance and full anonymity to protect users from value extracting players.
  2. Community -Oriented Governance as VENI’s innovative deflationary tokenomics design and game-theoretic-inspired mining mechanism guarantees long-term sustainability of Venice protocol. We let venetians collectively decide on the optimum solution for the protocol through farming, staking and voting.
  3. Chain-agnostic liquidity hub. Venice allows users to frictionlessly and trustlessly move the liquidity inter-ecosystem without revealing their position or identity.

We are very different from any of the Vanilla AMM dex on the market. Veni has a lot of use cases down the road including governance, lottery, launchpad participation, etc , just to name a few…

ONESHOT: Please tell us about $VENI token. What are the token difference, use-case, distribution, and where we can buy/get it?

VENICE FINANCE: Venice is well-positioned for community-led growth with the introduction of VENI (FRC-20 standard) to guarantee such sustainability, led by a dedicated governance mechanism and shared community ownership.

A total of 1 billion VENI tokens will be minted at genesis. Venice features a unique deflationary economy design in which – at the VENI token issuance master smart contract level – a per-transfer 0.2% tax policy will be enforced and sent to a blackhole address. Effectively, VENI is a DEX platform token which incorporates a tax that creates clear deflation for every on-chain movement. A 5% average movement per day creates an effective deflation of 4% annually.

The majority of VENI tokens will be distributed via Community Incentives and Liquidity Mining to achieve a balance of high market utilization and a wide distribution of governance participants. VENI holders can propose improvements (e.g. adjusting pool parameters, integrating new ecosystems) and collectively decide on the optimum solution for the protocol.

Community Mining Allocation Breakdown:
20%
VENI token incentive mining
2% each month for TGE+5mon, 0.5% each month for TGE+5mon onwards until finish

17%
FRA incentive mining
1% each month for TGE~TGE+5mon, 0.5% each month for TGE+6mon~TGE+12mon, 0.25% each month for TGE+12mon onwards until finish

6%
Mining across all LP tokens

0.5%
each month from TGE onwards
We also have a burning mechanism for transaction fees etc toi make sure the VENI supply is deflationary and scarce.

Currently we just finished our private round token placement. We are going to have public sale. It seems to me that participating in the public sale is the only way to get VENI tokens for now before the liquidity mining starts. VENI tokens are not listed anywhere yet. Please be aware of scams.

ONESHOT: How can us be assured that Venice Finance has a long term focus and are committed to community participation and outreach?

VENICE FINANCE: Venice is a 100% community driven blockchain project, so we wish we could have a robust community to mature the development of Venice Finance. community-Oriented Governance as VENI’s innovative deflationary tokenomics design and game-theoretic-inspired mining mechanism guarantees long-term sustainability of Venice protocol. We let venetians collectively decide on the optimum solution for the protocol through farming, staking and voting.

We view the community as the key to our success. We divide community into several sub segments: general crypto community; developer and researcher’s community and enterprise users as a community. We believe these communities should be equally strong and benefit each other. On the general crypto community side, we have teams around the world to raise awareness of Venice brand and services, deploy all kinds of growth programs including incentivized participation, gamified application experiments, bounty program. We also have a privacy preserving stable coin project that is designed to help solve lack of banking access and cost effective international remittance issues.

On the developer and researcher’s community side, we have established researchers, economists and computer scientists, we have specialized funds to sponsor and support research projects for both private and public domain especially cryptography. We are willing to invest and flourish a developer’s community, an ecosystem fund is being set up to invest in Defi and other applications

Finally, power user adoption is huge for DEFI. We firmly believe, practically, a large portion of the world’s total transactions will be moved onto the blockchain. And we are already working with partners like WOO Network. The more TVL, the more support to our DEX and token utilities will occur..

ONESHOT: With this answer, Part 1 of the AMA has been closed. I believe that everyone has had an overview of your team and Venice Finance !

To go into more detail, we’ll come to Part 2: Answer the questions from Website.

ONESHOT: What is the Dev’s plan to attract investors, how can the project be realized, and how can the project survive in these bad market times?

VENICE FINANCE: Our privacy-preserving Dex features and deflationary tokenomics are great attractions for investors. Venice will have a constant revenue to survive in the bad market times.

ONESHOT: Which projects are your closest competitors? For example, do you accept all Finance project as your competitors? How will you take to the next level?

VENICE FINANCE: I would say Uniswap and pancake swap are the most direct competitors. Comparing to them, Venice will offer the most exciting privacy preserving features which will take the project to the next level.

ONESHOT: With this answer, Part 2 of the AMA has been closed.

We’ll come to Part 3: Answer the questions from Twitter.

First, I would like to say thank to the members of ONESHOT Community for sending so many questions about Venice Finance to our Twitter.

All questions are very good but we can only choose 3 of them to answer because of time limit!!!

ONESHOT:  I noticed the project “Findora Network” featured at the bottom of your website. Could you please tell us about your relationship with Findora Network? How is this project related to and associated with your project?

From: @DAD2829

VENICE FINANCE: Findora utilizes the latest breakthroughs in zero-knowledge proofs, Bulletproofs, and multi-party computation, to allow users transactional privacy with selective disclosure and auditability. This is the biggest advantage of Findora over other public blockchains.

Therefore, based on Findora, Venice could offer a programmable & composable privacy solution for liquidity migration across all blockchain bridges. Venice aims to be the Chain-agnostic Liquidity Hub, where users can frictionlessly and teustlessly move liquidity inter-ecosystem without revealing their position or identity

Additionally, Findora Foundation has committed $10 million worth of liquidity from its $100MM+ Ecosystem Fund towards the Venice launch.

ONESHOT: For a project development first of all main priority is having enough fund.
Does your team financially capable to run this project?
Do you have enough fund for it is development?
Can you tell us that how your project generates the profit?

From: @bijoy_mamud

VENICE FINANCE: Just like any other protocol, the foundation will charge a very small portion of the onchain transaction fee, and redistribute the rest back to the early adopters, and That is why we highly encourage all of you to participate in the protocol early and get to know our project early, You maybe eligible for early liquidity mining as well

In the long run, Venice is going to develop launchpad, lending and stablecoin(s). Revenue will be generated from many sources as transaction fees, commissions and taxes, which is owned and governed by the entire VENI holders’ community.

At Stage 2, Venice will also provide DARK POOL exchange services for KYCed institutional users. This will also be an important revenue source of fees.

ONESHOT: To be an outstanding platform for both investors and users. The importance of transparency and security cannot be overstated.
Could you tell us more about your transparency (for example, team members) and security mechanism?
Have you previously finished your platform’s audit?

From: @KunObocchama

VENICE FINANCE: This is a great question and I strongly believe that the way we handle privacy and security at Venice is very unique compared to other protocols available in the industry.

To protect user’s privacy and security, the transaction you made on Venice is made confidentially and anonymously. This simply means that you won’t be targeted by hackers because hackers won’t know WHO’s making the transaction nor HOW MUCH the amount is being processed. This is achieved by the Bulletproofs functionality by encrypting the transaction so the transaction isn’t visible to other people’s eyes; which is now being practiced by Findora on its privacy-preserving UTXO ledger.

Also, Venice is partnering with top auditing firms including Certik to guarantee the security of users’ money. Besides, the codes are drawn with strict security auditing and through tests and bounty programs. I would encourage everyone to go try it out at: testnet.venice.finance

The Venice Team consists of experts with a strong technical background for various fields:

  1. Tanmay, software advisory. Tanmay has past experience being a senior software developer on OneLedger; Research Scientist for Conduent.
  2. Taylor, a UC Berkeley graduate with an Architecture background who had previously worked as a private consultant for 2 years. Taylor joined Venice to use his project management skills to strengthen the team and help the team work more efficiently.
  3. Oleks, frontend engineer, team lead of Venice. Oleks has 18 years of experience in the IT industry with multiple languages and tools. Before joining Venice, Oleks has past experience in Findora and another blockchain project where he built a wallet and worked a lot on improving and extending their block explorer. Oleks has also implemented Ledge integration into the wallet, and built a wallet chrome extension and worked on maintaining and supporting their SDK.
  4. Sergio, cryptography advisory at Venice. Sergio worked as an innovation cryptography manager. He had led a team of developers to implement cryptography algorithms and explored prosing blockchain applications to the business using SAFe methodology for development.

ONESHOT: That’s was the last question from Twitter.

Now is the segment that most people are waiting for.

In this segment. Everyone, please send your questions to the group to be answered by Alex and receive a reward!

SEGMENT 4 WILL TAKE PLACE AT Group Venice Finance

COMMUNITY: Hello Sir my Q

1) Telegram Group
2) YouTube channel
3) Tiktok Channel
4.) Website
5) twitter
For NSUR project? From where we can learn Something? Please share with us link.?

VENICE FINANCE: Please visit us at Venice Finance for official site updates
Join our telegram channel at: https://t.me/venicefinance
Join our telegram Announcement: https://t.me/venice_finance
Join Our discord at: https://discord.gg/CbCDJvk3
We will post daily updates about our product, roadmap and also we have various different campaigns coming up! So stay tuned for more information.

COMMUNITY: Audit is important for both trust and security. Have you done any audit of smart contract?

VENICE FINANCE: Venice is partnering with top auditing firms including Certik to guarantee the security of users’ money. Besides, the codes are drawn with strict security auditing and through tests and bounty programs. I would encourage everyone to go try it out at: testnet.venice.finance

COMMUNITY: Sir I want to buy your token. is it listed

1.Pancakeswap.

2.Binance.

3.Kucoin.

4.MEXC OR Any Exchangers?

Where can I buy your tokens now?? CAN YOU TELL US PLEASE???

VENICE FINANCE: Currently we just finished our private round token placement. We are going to have public sale. It seems to me that participating in the public sale is the only way to get VENI tokens for now before the liquidity mining starts. VENI tokens are not listed anywhere yet. Please be aware of scams

COMMUNITY: Revenue is an important aspect for all projects to survive and maintain the project/company. How have you been able to build a complete project and what is the way to generate profit/revenue of the token? What is the income model?

VENICE FINANCE: Just like any other protocol, the foundation will charge a very small portion of the onchain transaction fee, and redistribute the rest back to the early adopters, and That is why we highly encourage all of you to participate in the protocol early and get to know our project early, You maybe eligible for early liquidity mining as well.

In the long run, Venice is going to develop launchpad, lending and stablecoin(s). Revenue will be generated from many sources as transaction fees, commissions and taxes, which is owned and governed by the entire VENI holders’ community.

At Stage 2, Venice will also provide DARK POOL exchange services for KYCed institutional users. This will also be an important revenue source of fees.

COMMUNITY: Can you list 1-2 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?

VENICE FINANCE:

  1. Advanced cryptography algorithms including Bulletproofs, Turbo-PLONK, MPC, etc. to encrypt smart contract inputs. Venice enjoys a function of front-running resistance and full anonymity to protect users from value extracting players.
  2. Community -Oriented Governance as VENI’s innovative deflationary tokenomics design and game-theoretic-inspired mining mechanism guarantees long-term sustainability of Venice protocol. We let venetians collectively decide on the optimum solution for the protocol through farming, staking and voting.
  3. Chain-agnostic liquidity hub. Venice allows users to frictionlessly and trustlessly move the liquidity inter-ecosystem without revealing their position or identity.

 

ONESHOT: Congratulations to all winner.

With those 5 answers, I would like to announce that the AMA is here to end !

Do you have something to say to our community? @alexpark7

VENICE FINANCE: Please visit us at Venice Finance for official site updates
Join our telegram channel at: https://t.me/venicefinance
Join our telegram Announcement: https://t.me/venice_finance
Join Our discord at: https://discord.gg/CbCDJvk3
We will post daily updates about our product, roadmap and also we have various different campaigns coming up! So stay tuned for more information !!!

ONESHOT: Allright, I declare the ONESHOT VENTURES AMA with VENICE FINANCE has ended.

To the members, thank you for following this event to the end. winners will be announced soon.

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