RECAP AMA IDCRYPTO X ShuttleOne
AMA Theme : All about ShuttleOne
Date : October, 29th 2020
3 SESSION FOR AMA
1. PROJECT INTRODUCTION
2. FORWARD BEST QUESTION
3. FREE ASKING
IDCRYPTO:hello sir @Zhuangg535 how are you
I am good! thanks for having me! Selamat Sore semua
IDCRYPTO:perfect, but before we start please introduce yourself and your background..
yes of course..
Personally, I graduated from Singapore doing sociology and quant finance
i started working at an investment bank in London before coming back to Singapore and driving into Malaysia to become a farmer….
i sold off my farms in 2015 and started to get into technology as an entrepreneur
i got in touch with btc in 2011 and started to go deeper in 2016 as a miner in Singapore
yup thats the brief intro~
IDCRYPTO:you have ever been farming, so exciting your background sir.
u guys can read about this here…
yes it was because of farming i learnt Bahasa
i had many workers from Lombok and Java
IDCRYPTO:haha have you lived in Java too, sir? How long
haha unfortunately not too long
i was in Cirebon for a couple of weeks last year
thats because my helper in Singapore (who works in my home) is from Cirebon and we were in Cirebon setting up remittance counters to cash out crypto to IDR
having said that I lived in Jakarta for a while and also in Jogja
all for about 1 year in 2019
IDCRYPTO:I’m glad to hear that you’ve been to Indonesia
Well can we start to first session sir ??
Zhuang:lets start the first session
IDCRYPTO:I think enough to introduce, let’s start to first session.
I will start with first question from this session.
SESSION 1 PROJECT INTRODUCTION
IDCRYPTO: 1. What is ShuttleOne, ? can you explain a simple definition? And since when was shuttleOne founded? @Zhuangg535
yes of course
ShuttleOne is a defi company based in Singapore. We offer trade financing and microloans using the blockchain by tokenizing real world assets.
We support Government to Business companies around the region by lending stablecoins out to these merchants who needs loans and borrowing.
We are founded in end 2018 and have been building our dapp ShuttleOne.Network for the past 2 years.
IDCRYPTO: 2. Does ShuttleOne have its own token, what is the ticker and where is your token allocation?@Zhuangg535
ShuttleOne’s native token is the SZO token. The SZO token is a utility token that regulates incentivies and secures the network for token holders and suppliers of liquidity in the mining pool.
General InformationToken Supply – 230,000,000 SZOToken Type – ERC20Inflation – 5% a year or 11.5mil SZO per year.
the allocation of the tokens can be found here:
https://shuttleone.gitbook.io/step-by-step-guide-to-the-shuttleone-network/the-shuttleone-token/structureOur token can be traded on Uniswap very soon. Please join our telegram group or follow us on twitter for the announcements coming shortly.
IDCRYPTO:3. What benefits can we get if we hold SZO Token? can SZO be traded now ?
If you hold the ShuttleOne token, you are able to share higher interests rates that is generated by these real world assets.
not many crypto projects are trying to bridge the real world gap, we believe we are one of the few actually having product, delivering revenue and tokenizing real world assets
We allow the average stablecoin supplier to be exposed to bank grade quality assets that usually people are not able to invests in. These include commodities like rice, metals and soon energy.
IDCRYPTO:Do you have a target price for listing on uniswap?
thats something that will be announced later..
we will try to give your community some heads up
when that happens
there is only 1 way to obtain the shuttleone token
that is to provide liquidity into https://shuttleone.network/mainnet/
there is no ICO
neither did we raise investments from token sale
IDCRYPTO:4. Can you describe how far you have come? And what are you planning for the future?@Zhuangg535
Since inception, ShuttleOne has been a small team. We’ve been validated both in Singapore when we obtained not 1 but 2 grants from the central bank.
Globally, ShuttleOne equity investors include Maker, CMT Digital, Andromeda Capital and various angels in Singapore. Recently, Microsoft’s ex Director Charlie Songhurst who took over Yahoo and Skype also invested in us.
Going forward, ShuttleOne is looking to introduce innovative solutions that will attract more assets and liquidity into the ShuttleOne.Network.
We are working on tokenizing Oil now with a oil giant and this will be announced more in 2021.
For liquidity suppliers, we are one of the highest paying interest rate of 10% at the moment on Dai, USDC and USDT both in the crypto space and also against banks.
IDCRYPTO:looks like you really get the attention of big companies too.
Zhuang:haha thank God
we are well supported
if i am not wrong
Maker does not invest in equity neither tokens
we are probably the only one in Asia they invested in 2019
IDCRYPTO:5. What security system are you using? Are you absolutely sure about shuttleOne’s security?@Zhuangg535
that’s a very good question…
In terms of smart contracts, our contracts has been audited by Peckshield in April 2020. While we cannot be 100% sure of security issues as it may arise, we have ensured that the proper infrastructure that is in place to circumvent it.
Take for instance, our in-house custody solution is never connected to the internet and it provides a 100% safe environment for the storage of digital assets. This solution has 5 patent on it and it is developed by the ex-cybersecurity personnel of a western nation. We are also negotiation various insurance programs to protect user funds…
that is because, we are currently applying for the license for crypto in Singapore…
so we need to have all these proper compliance in place
IDCRYPTO:The 5 questions from the first session have been completed, are you ready to proceed to the second session sir
SESSION 2 FORWARD BEST QUESTION
IDCRYPTO:1. from @adito_007 ShuttleOne facilitates remittances and cross border transfers for our users and partners from ASEAN to the world. Is there a collaboration between ShuttleOne and a company in Indonesia? So that people in Indonesia can use the ShuttleOne service
Very good question. Indeed, we have partnerships with Remittance houses and Banks in Indonesia to facilitate the transfer of crypto assets during the remittance and trade financing process.
In fact, we’ve a microloans program that ended with a rural bank recently (over 1 year period) where we supported 400 over micro borrowers in Yogjakarta.
We are also starting to work with some ports in Indonesia to facilitate supply chain financing in the coming months.
IDCRYPTO:2. from @shihazop Are you focused on the market? or focus on something else, for example your platform development and users or partnerships?what are your global expansion plans ?@Zhuangg535
I am focused on the business if that is what you mean. If you study our token economics and how SZO is designed, the more business we do, the more transactions there is in the smart contracts and the token price will increase.
In terms of partnerships, at the moment, we have partnerships with Government-Linked entities in Singapore (you can go on our telegram group and check out the announcements), we also support the initiative with Shopee Singapore and are looking to support Shopee in Indonesia in the not so distant future.
Globally, because we support government initiatives, we have a global expansion plan to support SME lending in the US, Europe and Africa.
IDCRYPTO:I just heard about projects like you, you really have a glimpse of Indonesian users
haha thank you
Indonesia are our friends
not only for Shuttleone, but also Singapore.
IDCRYPTO:I hope your plans will run smoothly soon
we donated alot of covid19 supplies to indonesia with our friends
IDCRYPTO:3. from @Aryamahessa1 What are the advantages and different of Shuttle one wallet from other wallets? And why do user need to use Shuttle one Wallet to hold their assets rather than other wallets? @Zhuangg535
The ShuttleOne wallet is one of the few wallets that connects crypto to fiat on and off ramps. This means in South East Asia, in the countries that we are active in, users are able to buy and sell and cash out to their domestic currency in one wallet.
We are also currently upgrading the wallet, so that users who store their crypto in our wallets have the ability to connect into the ShuttleOne DeFi network (ShuttleOne.Network) therefore ensuring that the crypto assets they are staking are generating profits while they sleep.
IDCRYPTO : 4. from @Doraemo3 What are the plans to ensure sufficient liquidity on the exchange to fulfill market orders, especially as adoption increases and clients begin to multiply from year to year?@Zhuangg535
If you folks follow our twitter (@shuttle_one) you will see an announcement on the 5th of October that the ShuttleOne token CAT for tokenizing real world assets are voted to be onboarded into the MakerDAO protocol.
This partnership will ensure that there is sufficient Dai liquidity to meet the demands for the business to be viable going forwards. We’re very grateful to the Maker community that they have voted us in.
In terms of buying demand, everytime a borrower wants to borrower capital, repay or check their credit scores the SZO token is used and burnt to ensure that the token appreciates in price.
So to ensure that, we want to invite users to participate in our liquidity pools at https://shuttleone.network/mainnet/
IDCRYPTO: last question5. from @Naruto1673 Liquidity mining, Yield farming has been a very popular concept and a strategy for DeFi projects to boostrapping nowadays, does ShuttleOne have similar planning to incentivize platform adoption?
Yes, we’ve already developed our liquidity mining and yield farming platform and it has been a product that is already working.
You may head over to https://shuttleone.network/mainnet/ to check this out.
In short, the liquidity that users provide farms 10% APY at the moment that is generated from real world assets. If you check around the industry, this is one of the HIGHEST paying for stablecoins interest rates.
it definitely beats your bank interest rates at the moment.Crypto > BanksDefi will eat traditional finance. 100%
SESSION 3 FREE ASKING
Jesus Freites:Q: ShuttleOne focuses on the United Nations’ SDG 2030. What changes have you made in the world of digital finance to stand out as a developer in and contribute to the fulfillment of the Millennium Goals? How is your platform being prepared?
Our remittances are already facilitating cross border transactions UNDER 3% all in costs. this is aligned with the UN SDG 2030 goals.
In fact, a lot of our users are migrant workers in Malaysia sending monies back to Indonesia. thats how we support them via tech and not be a vampire to eat up all their hard earned salaries.
JaKi:A big problem for a lot of Defi projects seems to be that when farming starts, the price goes down because people unload to put liquidity into the farm. Will there be an incentive to hold and not just farm and dump?
Yes. We are very aware of the current trend in crypto.
for the SZO token
1. there is organic buying from our users. As long as they apply for loan, check credit scores and do a transaction they have to PAY in SZO. Therefore, the SZO is thereafter burnt to decrease the number of SZO that is in circulation.
2. the SZO token *HAS NOT* done an ICO, so there are no whales with crazy amount of SZO dumping.
3. If you hold the SZO token, we are introducing ShuttleVaults where users who stake can get better APY and also stronger returns in the future
Sakib:⚡The financial markets, cryptos market … all fell due to the covid-19 epidemic. Does this affect your project development plan?
No in fact in you read one of our updates,
our demand for our financial services sky rocketed during the covid19 pandemic.
that is because, when people are locked down they can’t go to the banks, they can’t apply for loans. With ShuttleOne everything can be done digitally. And beside that we are the only ones (other than the big banks) that offer cross border loans/trade finance
S a p t a | Cendana:So many projects have ruggpull and become scammers. So how does ShuttleOne convince investors that they won’t do that?
This is an important and crucial question to be answered.
We believe you can go to our github www.github.com/shuttle-one and check out our codes if u understand it.
If you don’t as a project we are all known developers and leaders in the crypto space. on top of that, our investors are well known.
for these reasons, rugging is beyond what we can do…
Sakib:⚡From a startup project to a mainstream project, being a pioneer in the industry, do you anticipate that many new startups will show up and compete?
we believe that there is always going to be competition.
However we believe one of the ways to compete is the experience that the team has. Me as a founder I’ve had successful exits in business before that’s well known in SIngapore.
On top of that the talent in ShuttleOne includes our CTO Samret and developers who are the FIRST licensed Playstation and Xbox developers outside of the U.S. so technically and via experience we are more than capable to compete.
Karla Herrera Pulido:The ShuttleOne network allows G2B organizations to facilitate global trade finance, but are they focused on one specific area of trade or do they address all sectors of the economy?
Right now we support these sectors:
Food commoditiesMetal commoditiesVehicles (cars, lori etc)Medical Supplies (covid19 rescue)
in november we hope to tokenize OIL (minyak)
IDCRYPTO:Looks like we are finished, is there any need to tell us sir?
well thank you for the time! I hope the ID Crypto community can support us in supplying liquidity for our cause here:
terimah kasih semua!!
also thank you to the host for the wonderful experience
IDCRYPTO:I also thank you for taking the time for this great AMA
Well… We declare AMA’s Series IDCrypto with ShuttleOne is Done. ????
Thanks to who gave us the time to share this knowledge, I hope we will understand more about ShuttleOne
Thank you to the participants who have attended this event to the end. the winners will be announced soon???
MORE INFO ABOUT ShuttleOne
Website : http://www.shuttle.one/
Telegram Group : http://t.me/shuttleone
Telegram Channel :http://t.me/shuttleoneANN
Github : https://github.com/shuttle-one/flyshuttleone