Space Summary
The Twitter Space Yield Tokenization on TON: Late Night Talk with FIVA hosted by ton_society. Delve into the world of Yield Tokenization on TON with FIVA, where discussions oscillate between MEMES and TON ALFA in a cozy setting. Explore unique tokenization strategies, community engagement, and the future trends in the TON ecosystem. Discover how humor, networking opportunities, and innovative approaches intertwine within the Open Network space.
For more spaces, visit the Unique Projects page.
Questions
Q: What is the significance of tokenizing yields on the TON network?
A: Tokenizing yields on TON opens up new investment avenues and financial opportunities.
Q: How does FIVA create a cozy atmosphere for TON events?
A: FIVA's hosting style and community engagement contribute to the cozy ambiance of TON gatherings.
Q: Why is community participation crucial in TON discussions?
A: Active community involvement enhances the diversity of ideas and insights shared in TON events.
Q: What unique tokenization strategies are discussed in the space?
A: Participants explore innovative approaches to tokenization, including the fusion of MEMES and TON ALFA.
Q: What role does humor play in Open Network conversations?
A: Humor adds a lighthearted touch to discussions, fostering a welcoming and engaging environment for participants.
Q: How can TON ALFA be leveraged for tokenization advancements?
A: TON ALFA presents opportunities for pushing the boundaries of tokenization methods and strategies.
Q: What insights are shared about the future of yield tokenization in the TON ecosystem?
A: Participants delve into upcoming trends and potential developments in yield tokenization on TON.
Q: What networking opportunities are available within the TON community?
A: TON events provide a platform for networking, collaboration, and knowledge-sharing among community members.
Q: How does the intersection of MEMES and TON ALFA influence discussions?
A: The blend of MEMES with TON ALFA sparks creative dialogue and exploration of unconventional tokenization concepts.
Q: Why are cozy TON events hosted by FIVA significant?
A: FIVA's events create a warm and inviting space for participants to engage in discussions and connect with the TON community.
Highlights
Time: 00:15:42
Exploring Yield Tokenization on TON Insights into the process and benefits of yield tokenization within the TON ecosystem.
Time: 00:25:18
MEMES and TON ALFA Fusion Discussing the creative fusion of MEMES culture with TON ALFA tokenization approaches.
Time: 00:35:59
Community Engagement in TON Discussions Importance of active community participation for fostering dynamic TON conversations.
Time: 00:45:27
Innovative Tokenization Strategies Exploring unique and unconventional tokenization strategies in the TON environment.
Time: 00:55:14
TON ALFA for Tokenization Advancements Leveraging TON ALFA capabilities for pushing the boundaries of tokenization practices.
Time: 01:05:39
Future Trends in Yield Tokenization Insights into upcoming trends and developments shaping yield tokenization on TON.
Time: 01:15:22
Cozy Networking at TON Events Creating a comfortable and interactive space for networking and knowledge-sharing within the TON community.
Time: 01:25:48
MEMES Influence on Tokenization Discussions Exploring the impact of MEMES culture on driving creative discussions around tokenization in TON.
Time: 01:35:17
Humor and Engagement in Open Network Conversations The role of humor in fostering engaging and inclusive discussions within the Open Network community.
Time: 01:45:29
TON ALFA's Role in Tokenization Understanding the capabilities of TON ALFA in fueling innovative approaches to tokenization strategies.
Key Takeaways
- Understanding the nuances of tokenizing yields on the TON network.
- Exploring the intersection of MEMES and TON ALFA within the Open Network community.
- Insights into the potential of yield tokenization for diverse investment opportunities.
- The importance of community participation in TON events and discussions.
- Exploring the cozy atmosphere of TON events hosted by FIVA.
- Learning about unique tokenization strategies in the context of Yield Tokenization on TON.
- The role of humor and entertainment in Open Network conversations.
- Opportunities for networking and engagement within the TON community.
- Insights into utilizing TON ALFA for innovative tokenization approaches.
- Discussing the future trends and developments in yield tokenization within the TON ecosystem.
Behind the Mic
Introduction and Welcoming
GM. Gm. Everybody, welcome in. My name is Victor. I think many of you already know me, if. No, it's a big pleasure to meet you today. Yeah, I'm speaking out of this profile also as myself as a co host, just so you know. Who am I? And so that also my dear friends and reply guys could join us as well. I appreciate you all. Thank you for joining us on time. Make sure to go to the bottom right corner, retweet the room, drop a like and invite a couple of friends, tell them that this space is happening and this is actually very important. Today we're going to talk together with Piva. And first of all, I want to say hello and welcome. And if you don't mind, would you introduce yourself? Who is behind the profile picture today?
Introduction of Andrew
Jmjm. Awesome day today. I'm Andrew, CEO of Viva and it is a pleasure to be here, guys, and to ask your questions and to introduce ourselves to the community. Yeah. Thank you for joining us, Andrew, and it's a big pleasure to have you. So I think, first of all, it's important to tell people why are we here in the first place. But before I go into it, let me quickly pin at the top of the room for you guys the official announcement for the space that we had so that you could actually go and grab yourself an SBT. I'm going to speak about it a little later, but I'm just going to leave it as the first post. So just that, you know. Okay. It's important. And please interact with it too. Drop with a couple likes and retweets. But here a little bit about the what is actually happening and what is Fiwa doing.
Discussion about Fiwa
I think it's best if you briefly explain to us how did we got here and what are you building. Sure, sure. So we are the finalist of the last tone hackathon and what we are building. We bring in tokenization of yield to the ecosystem and basically to the users. We promise to unlock the potential of your future money gains today. And it is like three use cases, fixed yield liquidity provided impermanent loss and yield speculation. Yeah, this is what we are doing here, basically. This is very cool. I mean, I don't know as much about this technical side of things, and I know that there is many community members that are exploring Defi. And I wanted to ask you, how does it work? Is it your own telegram mini app that you have or how it works for users?
Explanation of Protocol
Yeah, basically we are defi protocol. So if you're familiar with Eva, Stonefi does so. Yeah, we will have web application and telegram mini app. We already have MVP on the testnet. Yeah. So it is how it looks like and what we are. In simple words we will just allow users to earn more money and better yield in our protocol. Would you mind sharing with us a little bit about yields also that got to be accessible to people. I think it's pretty interesting. Yeah sure. So basically now you have liquidity staking protocols like tone stakers, BMO awesome guys and they offering you to stake tone.
Yield API and Tokenization
But this yield API is changing always. And what we are providing, we provide the technical solution to fix your yield. And basically always, usually it is like a higher yield also, and also with some incentives and it is the main use case and how we do it by tokenizing it. So we create a digital token that represents the future yield and now you can trade it like an asset. Wow. Okay. I know very little. It's, it's complicated for me so I will just move with the questions along. It's, I think it's type of a product that you need to give a try. Speaking also of incentives that you mentioned, what type of incentives are we talking about?
Incentives for Participation
Like is it gonna be like sort of invite based or participation based? What is it going to be like? Sure. Yeah. We are planning to introduce you to our point system so you will be able to earn points in our protocol by completing some tasks and providing the liquidity on the testnet, trying to swap the tokens and do all this amazing stuff. And later it will be converted to our tokenization until the TGE. So it is really the best way to align our incentives with our community, with the investors. So we are all in one page here. This is very interesting. I also wanted to ask you about the community role and community participation and everything that you're building.
Community Engagement
Like you know, is there a particular way for them, let's say to give a feedback, ideas, are they welcomed? And what do you think overall of community? Sharing their thoughts of how to improve the products? Yeah, answering the questions, definitely. Yes, we have a telegram channel and group so you can join and just try our app, give us your feedback and we will definitely use it in the development. And basically we are start from the community. We are winners of the Warsaw bootcamp and we just met there at the community, we saw the hype and yeah now we have the protocol so we are really in close connection with the community and we're building for them.
Team Overview
So that's why really appreciate your feedback and just join our telegram channel and share your thoughts on this? This is absolutely amazing. And yeah, it's so great that you've actually build something in such a short period of time because that was quite recently. That's, that's not a long time. And speaking of that, I wanted to ask you know, how long you think would it take you to get the Alpha version? As you mentioned before, you're in the beta mode right now. Right. So how long is it going to take to, what are your expectations to move to the next stage? Sure. Yeah. We have MVP on the testnet and our mainnet launch plan for the Q 120 25 because a lot of stuff should be improved.
Future Plans
Also you want to pass the audit, but if you want a precise date. So it is Q 120 25. We aiming at the beginning at January 1. Okay. This is very cool and thank you for sharing this. First of all, I wanted to appreciate you and also speaking of the team because I was curious to learn a little bit about how many people you have working on the project in total. And if you don't mind sharing with us a little bit about them and their past experiences as well. Sure, sure. Of course. We have awesome team, a lot of software engineers and also we have some on the space here.
Team Introduction
So the team consists of eight people. And. Yeah, I guess I, five of them are software engineers. And I think maybe if we can add and give a voice to the Alec. He's here. And also Dominic, they can introduce themselves. What do you think about this one? Oh, yeah, absolutely. I've actually seen Dominic requesting before, but I didn't know that this is the right Dominic. So if they could request, I can bring them up. Oh yeah, I see Dominic. I can invite him. Let's go. But yeah, guys, just request the mic if you're in the room. I would be happy if you join us on stage as well.
Dominic's Experience
And yeah, it's just, you know, it's always cool to hear about the people experience that they already had and then understand what kind of scale and products they've already developed to and how much they work together. So I'm eager to know a little bit more about you guys and Dominic, join us on stage and please go ahead. Okay, yeah, let me. I will start by introducing myself. Yeah, I'm Andrew and I'm from the traditional finance. And basically, yeah, I'm working for banks and doing and calculating risks there. I saw a lot of inefficiencies in the bank system. That's why I move toward DeFi.
Dominic's Role
Yes. And building the protocol here. Yes, it is about myself. So I'm just building the models for the banks and I want to improve the finance system. That's why I moved to the DeFi. But yeah, I think we can give a mic to Dominic and also Alec if you're here, please join us on the stage because it is our CTO with 15 years of experience in the it. So he's awesome guy. Yeah, sure. Hello everyone. Guys, maybe Alec will join later. I will start. So I'm Dominic, as you can see. And to be honest, I'm really thrilled to be a part of the FIFA team, which wouldn't have happened if we haven't met with Andre in the last year on some web three hackathon in Warsaw.
Project Development
I remember that were discussing about this kind of protocol then. So the idea has been growing for such time in the project. I was responsible for building the front end part of our application, me and Phil, which is probably here with us. So we are some kind of front end team of the FIFA. And there is also Alina with us who is a designer with proficiency in DeFi interfaces.
Introduction and Background of Speaker 1
So it looks like that. And about my background, briefly, for several years I was in the web development as full stack developer in the telecommunication industry. I'm an enthusiast of web three. I've taken part in a few of web three hackathons and also written an engineering thesis on blockchain use cases in a medicine, which was super boring. But Defi is much more interesting. So that's about me.
Discussion on Team Formation
Awesome. And Victor, can you add Alec? He said that he sent your request. Yeah, yeah, I see. Okay, here we go. I wanted just to ask you to be sure about his username or name here. Yeah, I appreciate it. Yeah, we have Alek here. Yeah, hello guys, my name is Aliak, I'm CTo at Fiva. So couple of world words about myself. I have around 15 years in it and last four years I was involved in building a couple of big protocols at EVM blockchains. But maybe six months I read about Tom and deep into the technical solution and I was impressed by this design.
Project Development and Protocol Explanation
It's super cool, I mean very cool from the engineering point of view and I think it will bring a lot of scale and it will solve this problem of existing blockchains. So I decided to start building atone and yeah, we met with guys at Hackathon and decided to build this protocol. And couple of words about this protocol. It's very important. Maybe it's hard to understand from the first site, but in reality it's like necessary primitive for kind of more efficient fund allocation. So basically, big players, medium players and maybe small players will be able to more precisely handle their profits from the tokens.
Importance of Protocol for Users
And I think it's very important and it will allow a lot of users to basically use tone blockchain and defy a ton more efficiently. That is very interesting and thank you for breaking that down. Us as well. I appreciate you guys for joining us today. And I wanted to ask you a little bit also about how your team met. You've mentioned that you've met guys at the hackathon itself and from there decided to build something together. Could you share with us like this journey, the team formation and how did we got here?
Team Formation Story
Yeah, it is really interesting story. So basically, went to the Warsaw bootcamp with the idea. We met there, but not the team that we have right now. I was there and we built the idea, pitch it to the community. We saw the hype, we won the second place. And yeah, after that I started to collect the missing specialists. I met Alec, they built awesome solution also on the bootcamp. And I know that they are really good technical guys.
Networking and Expanding the Team
Also, I knew Dominique, I also met Alina there, the awesome designer who helped him to make things beautiful. And it is how it works. So basically, this bootcamp, it was the workplace of our team. And then we expanded and now we have all people that are needed to succeed. Let's go. The one thing I can add here is that going to those bootcamps really makes sense. It's incredible story of how you've been able to form a team.
Opportunities from Networking
Just from going to one of those events that tone society organizing. I am absolutely fascinated. Sorry, please go ahead. Yeah, and just to add that really we appreciate the opportunities by tont foundation, because I met a lot of awesome people there. Also some yes, investors and needed networking connections. We met a lot of representatives of Tons foundation. We now in the contact to help us and maybe with some partnerships.
Encouragement to Attend Events
But yeah, it was awesome experience. So, yeah, guys, definitely if you have something around, just go there, build, meet people, communicate. You see how it goes. Now we are building the really fascinating project together. This is a great story. And I also was in the Warsaw actually at event, you may have seen me and it's absolutely great energy.
Continuing the Events in the Community
I think those opportunities all across the globe are absolutely worth your time, guys. Everyone in the audience, if you haven't participated before, look out for more. We constantly host some events. There is also a lot of events. You know, we have an ambassador's tone syndicate program and they are hosting tone breakfast and a couple other side events happening all across the globe and many are actually right now doing in Nigeria.
Expansion and Growth of the Events
There is the expansion across all the regions in Europe. It's been so cool to witness this growth and I'm absolutely fascinated to hear the results that it brings and how meaningful it is for people in terms of meeting each other and being able to develop upon their ideas. This is what those events are for and I'm just happy that we are here today.
Future Plans Post Launch
I also wanted to ask you, going into the future, what people can expect post launch of your main product on the main net. Yeah, we have a lot of plans, to be honest. Basically, the vision is just to bring the instrument, financial instrument that before was available only for the bankers and for big institutions just to the community.
Specific Plans for Points
But from the practical point of view now the points are really hyping in tone. BMO introduced points, Eva farming points. So we also want to create some opportunity to give more points to our users. Yes, we also discussed that with these protocols. So yeah, a lot of things will be going there. By the way, I really wanted to ask you about the point system as well, if you don't mind.
Explaining the Points System
Elaborate a little bit more detailed on this topic if you can. Of course, you mean hours. So how we plan to just use other protocols points to help them to earn these points, I think both at. This point to be honest. Since you mentioned. Okay yeah, basically let's start from the most fascinating ones from the existing protocols.
Farming Points Across Protocols
Points that you can farm and earn on EvA, on Bima and definitely will be more. So basically. Yeah, just one caveat here. Our aspiration is pendle. Yes it is in Ethereum and it is like 9th biggest protocol with 3 billion of TVL. And basically idea is that we help to attract people to their EvA point system or to the Beaver point system and we have the agreement with them that they receive some.
Details on Future Plans for Points
I have particular multiplier but it is far away. But it is the idea you just receive more points by using our protocol in the future. But if you're talking about our point system, yeah, we will launch it, probably just give you some orientation. It will be October or November this year. So just follow us so you can earn points system, just points in our testnet application and our application completing some task also referral program and then it will be converted to our token after TG.
Airdrop Farming and Community Education
Okay, so there is another sort of airdrop farming starting from point up to the point of TG. Yeah. And if I can add something from front end part of the team, I can say that we have plans to not only make points system for community, but we want to also learn, teach people and make them learning our protocol and how to use using to it the points.
Challenges of UI Simplification
So it's another use case of points to enable users to get in more about our protocol, which will beneficial not only for us, but mainly for the users. By the way, I wanted to ask you also, how do you overcome the challenges of simplifying the UI for the users? How do you work on that, if you don't mind me asking, because it's sometimes very challenging for the average person to interact with a complex defi product.
Efforts to Enhance User Experience
So yeah, just eager to learn a little bit more. How do you overcome these challenges of simplifying it? Yeah, that's true. And to be honest, it's one of the most difficult things for us right now. Honestly, we've observed that a lot of DeFi protocols, and not only DeFi, just crypto applications has not user friendly interfaces.
Importance of User-Friendly Design
And the applications requires from user that his or her is technical guy. But in most cases it doesn't work like that. So for us, it's really important to create as easy to use and also understand interface as we can. And I think, I'm pretty sure that we'll achieve it with deeply, with a deep analysis and UI UX things which will be provided by our awesome Alina designer and also us as a user.
Focus on User-Centric Design
So our approach is to make it usable and easy to use for people who are not specifically familiar with Defi and who know how to invest in crypto, how to use crypto, but we want them also to know exactly how they can earn from our protocol and how it could beneficial for them. Yeah, maybe I will add to some just shortly speaking.
Driving Simplicity Through Advanced Functionality
Yeah, basically main focus just to provide user a car and you shouldn't know how the engine work if you want to drive the car is our approach. Yeah. So basically, yeah. So it is our idea just to give users pre use cases and take all the technical stuff in the business logic, in the smart contract, and for the advanced users, of course, they can just go through the transactions and track it.
Learning from Other Protocols
So basically, yes, it is. And also the second point, we learn from the mistakes of other protocols because it is not the new concept. Pendle exists like I guess three years already and they change the UI UX. So we will use the best practice from there. By the way, would you mind also sharing a little bit what is pendle?
Pendle and Its Impact on DeFi
Okay. Yeah, it is just my big inspiration. So basically it is the protocol in Ethereum and they come up with this idea of yield tokenization and how to do it properly in the crypto. Because in the traditional finance you have like the bank interest rate and it is one of the most important traits. And you have a lot of instruments like called derivatives, how you can play or hatch or just speculate on this interest rate, but it was not implementing the crypto.
Pendle's Success and Influence
And these guys from pandle, they came up with the idea and bring it and prove that it works and that community need it and they just reach billions of TVL. That is why it is pandal. And yeah, we really inspired by the guys, but we want to bring it on ton because it is more scalable solution.
User-Friendliness as a Core Principle
Yes. And we want to make it more user friendly. Yeah, basically it is our idea. Well, that's a great plan and great inspiration. If you don't mind me also asking a little bit here, what are your thoughts of the success of such an instrument, of such a tool in tone defi ecosystem? What is the potential for, how do you look at that?
Market Size and Growth Potential
Yeah, sure. Basically at tone right now you have $400 million locked in the liquidity staking protocols. So basically, yeah, if you provide the money to the tone stakers or BMO, you just have a token and you lock it and you have no use cases, you can just provide it for some dexes and earn swap fees.
Creating a Market for Locked Wealth
But we are creating the next step like market for these 400 million that lays in their users investors wallets. So basically it is the size of the market right now, but it already grew like I guess like twice or even more from the beginning of this year. So it is just growing market and now it is like 400 million TvL.
Conclusion and Remarks
Okay, this is very interesting. Yeah, it's very cool that you're building this.
Tone Ecosystem and Positioning
I wanted to ask you, are you sort of the first of its kind in tone ecosystem? Because it's a little bit different from what Evo protocol is, for example, even though there is a lot of similarities as you mentioned. Yeah, we are the first of such kind on tone ecosystem and now toa is growing. That's why we want to bring solution as fast as possible. But also a good one. Yeah, but answering your questions. Yeah, we have the first one. So it is like this all market is just to take and we definitely will go for it. This is very cool.
Competition in the Tone Ecosystem
And what do you think the competition will be soon to join as well or what are your thoughts on that? Yeah, of course, where you have the opportunity, you have the competition. But we already started this in the hackathon that takes place in June and the tone. It's nice to work on tone because, to build on tone, because you are one of the first and there are a lot of technical challenges here. Yes. And I think they will need more time to catch up with us and we will definitely have an advantage over the first mover here. This is absolutely fascinating by the way, before we keep on going, I wanted to say guys, if anyone down in the audience got questions, please drop them in the bottom right corner.
Introducing Jerry Bond and Devmusti
I still have a few more, but just write them there. And we have also Jeribond and Devmushti join us on stage. Jerry Bond is one of the ogs in ton ecosystem and that Mushtia recently joined also on syndicate. He is actually a very knowledgeable developer and he knows so many technical terms that I can't understand. For me, it sounds like an alien language, but when this man speaks, I'm like yeah, this is what it means. But I still don't get it entirely. So. Devmusty, Jerry Bond, welcome on stage.
Audience Engagement
It's a pleasure to have you too. They're great guys. So I wanted to say, if you have a question, feel free to time and also ask. It would be absolute pleasure. Yeah, GMGM, thank you so much. Victor. You know you're talking about Dev mostly. I'll tell you, that's one guy that talks about torn as if he has him and Duro have actually created a code. But anyway, good to be here and I'm gonna chime in when I, when you guys are. As it goes on though, don't worry, I'll ask my own question very soon.
Team Expansion and Improvement
I appreciate it. Thank you for joining us. Jeremy, thanks for being here. And Devmusti, welcome in. If you have any questions, feel free to ask. I'm sorry. And thank you for the remark. Actually, I don't have much to say other than this. Thank you. Thank you for joining us, my friend. Thank you for being here too. It's a big pleasure FIBA. I also wanted to ask you a little bit more about the further improvements, like how do you form them and based on what?
Current Development Phase
Because right now you're in the testnet phase and you're still in the working process. So I was curious to learn a little bit more of how do you overcome the development challenges as well on your side. Yeah, sure. We have our roadmap, we planned with the team to sit all together and yes, we have the plan how to deliver the protocol live. And basically we now working on improving the solution. Also we are planning to build our own IMm.
Technology and Security Improvements
Yeah, so basically which will allow you to provide liquidity to our protocol without impermanent loss. Yeah, we can also dive deep into this later maybe. And yeah it is challenged there also about yield stripping and it is the process what we are doing right now. We also improving the security because we faced during the first phase of the development. We faced a lot of challenges because of the tone architecture and yes, how you store memory of all these asynchronous transactions. We face a lot of challenges there.
Onboarding New Experts
This is why we onboard Alec who is right now helping us to solve these challenges. So basically answering your questions right now we improving the security and the functionality of the yield stripping. After that, we are planning to build our own anm so you can enjoy no impermanent loss. And of course we are developing right now the better UI Ux to the users. Well, let's go.
Community Involvement
Thank you for sharing that. I appreciate it. I think it's just very important for the community and overall. You've also mentioned that you just hired Alec quite recently to help you to overcome all those challenges. And I was wondering do you expand the team further, do you plan, are you hiring more people or looking for more enthusiasts to join you or not at the moment? Yeah, we always have open doors for their contributors and who want to help us to bring it.
Collaboration Opportunities
And answering your questions. Yeah, we also onboard Maximilian who will help us with business development and marketing like I guess this week, but further expansion of the team in terms of like full time or part-time collaboration I think no. But if you want to help us to review the application, to give your feedback or just join our journey. So we always open and we would like to have you on board and we will share information and the details how you can contribute and of course we will have incentives.
Open Source Commitment
We are here to stay. We are here to build, not just be greedy and just keep everything for ourselves. The plan is that we are building open source application. So with open code. Yes, after the auditing in the future and the plan that we distribute 50% of their equity tokens to the community and we are planning to have Dao in the future. But yes, it is here for community. So if you want to join, of course we really will appreciate that.
Getting Started with the Project
Awesome. And speaking of people joining in, what is the easiest way to go and explore what you have, where they should go to get started? Sure they should go to our telegram channel and our telegram group. So we are all there. So just also we prepare some medium articles about our protocol and also our mvp is available. So just go there, understand what we are doing asking some questions.
Engagement and Communication
We will see that you are interested and you also can reach me Andrey as I always available there and we can have a chat and see how we can collaborate. This is awesome. Thank you for sharing this. Also, before we keep on going, I actually pinned something you posted a few days ago, maybe a week ago around that where you're having a medium article. So if anyone want to go through that, also check out their page for more tweets.
SBT Distribution
I'm going to leave that right here. And I wanted to also say before we go to the next question is that guys, there is today an SBT for everyone that join us in this space. If you want the SBT, it is pretty simple. At the bottom of the first pin post you will see the link to the on ton bot. So that's where you need to go. And then it will ask you for the secret word. So what is the secret word for today?
The Secret Word
It is yield. Yield. Like the first word in the title of this space. You see, yield. That is the secret word. Go claim your SBT. And yeah, as always, there is time limit. So yeah, please do so while we're here, while it works. And I appreciate you with that said. Look, there is a few more questions I wanted to ask also in the regard how you operate.
Roles in the Team
It's like you've mentioned, there are several people at several different roles. And speaking of that, who is managing social media mainly all the time? Is that you, Andrew, behind the profile? Or is that going to be a different person going into the future as well? Yeah, sure. Basically it's not me. It used to be me. Now we have an awesome guy, Maximilian, and he will help us with managing our social medias and doing the business development.
Operational Structure
Yes, it is answering your question and how we operate, we have, I call them flows. We have the smart contract flow, we have the application flow, and we have business and marketing flow. And we working with Jira. We are agile, we are fancy, we are effective. We using these tools to operate and to organize our work. We have sprints and we have plans.
Future Development Plans
Everything is planned, everything will be delivered. So just follow us on our social medias. I appreciate for sharing that. And guys, make sure you're following also, people ask if you plan to do any audits in the future. Because this is one of the topics to verify how secure everything is. I understand that now you're in the still long way to go till the alpha version going to be released.
Audit Plans
But still it's people asking, do you plan to do audits in the future? Yeah, basically the idea to do the audit before the launch in January. So we want to do it this year after we created the smart contract. We want to be audited because we want to make sure that your money is safe. We really approach it really seriously and try to make things as good and as safe as possible.
Conclusion
That's good. Thank you for answering. To be honest, that's all the questions that I see from the community in the bottom right corner. So I don't really have that many to ask. And yeah, I mean we're just going to be looking forward to hearing more updates and how you're going to be developing further. But I wanted to ask you now, is there something that maybe I forgot to mention, forgot to ask that you would love to share with us as well? Yeah, I think we covered the most important thing and I just want to really say thank you to having us to hosting us.
Introduction to Team Contributions
Maybe some of my team members will want to add something. Dominic? Alec? Yeah, actually I wanted to add one thing because me and Phil were talking about it yesterday and also on the previous meetings and we have also idea to integrate an AI in our web application and we see the possible use case for this in educating users. So basically the idea is to create an assistant which will know everything about our protocol and know exactly how to help user with his investments or just with app. And yeah, we have plans to implement it as AI chat assistance, something like that, which will be experts working 24 hours per seven days in a week. So that's some kind of innovative thing. So I just wanted to add it.
Feedback on AI Integration
Yeah, yeah, this is pretty cool. Can I chime in please? Go ahead. Okay. Okay. Thank you so much. You know, if you give me a name, you give me like the headmaster or the school teacher, I always tell you how are you actually creating an avenue to educate the users, whatever you're building? Because that's very important. We have a lot of people coming into the space with prior knowledge and those with prior, with no prior knowledge. And so we need to educate people because of our user retention and all that. So it is important for us to always have projects that will create stuff that will educate. So I would just want to know, is there a chance or is there a way you're going to educate users in any capacity or in any way?
Plans for Educational Initiatives
Yeah, I will take this one. Basically we want to create something like Viva academy. It is just the place where we will try to educate the users with some of the video materials because the DeFi space is new and difficult one and the concept even of yield tokenization, yield farming. It is really hard to grasp without the proper education or videos or examples. Yes. So they're answering your questions. We plan to do this after the lunch. All right, this sounds sweet. And in any way we can actually support would actually give our support because we want people to really understand what the heck is going on here. And at the end of the day, once we have more people, we achieve the proper mass adoption, not just bringing in people and with no knowledge.
The Vision for Mass Adoption
We want a situation whereby in every household, every home, we have somebody that will give you good knowledge of what you tokenization or youth farming or whatever it is, or someone that could talk about crypto and so on, while we wait for the days where we're going to have these in our curriculum in schools from the elementary to the advanced. And that is when we totally achieve mass adoption. Thank you very much. I appreciate it. Yeah, I appreciate you. It's also awesome mission. Let's go. And I think there is one thing I wanted to also ask. Do you plan on anyhow leveraging also the viral mechanics and invite mechanism that is wildly known across the mini apps and telegram too, and if so, when people could actually already try to experience that too?
Exploration of Viral Mechanics
Yeah, I think nothing particular in the plants right now, so. But we will check this topic. But now we want to focus more on building, you know, safe, good technical solution and to give the community and to the whales here on Tong more opportunities and use cases. But in the future, of course, we are open to this. But now, nothing specific on this topic. Thank you. Thank you for sharing. Once again, that's all I wanted to know. It's just community is asking and I'm asking you and thank you for that. So I don't really have any more questions.
Reflections on the Product Development Journey
I've only got a couple words to wrap up. This is absolutely incredible, the fact that you guys met together at one of the hackathons. You won the hackathon, received the support, being able to develop a working product and now in the testing phase and improvement phase before you launch it on the mainnet. It is absolutely fascinating journey and you're the first to develop this kind of product, which is phenomenal idea and I hope and wish you all the best on this journey. Of course. And thank you for sharing with us also about your team background, point system and so many other things that we've asked throughout the space.
It’s Time for Community Engagement
If someone missed anything from this space, feel free to listen back to it. It's a recorded space. It's going to be available on the page of tone society. And I also wanted to remind everyone once again, you can claim SBT from today's space. It is under the first pinpost at the top there is the link to the onton bot. And the secret word is yield. Thank you. Claim your SBT. The time is limited and I hope you get it in time. Also, if you have noticed, we've been actually sharing some sbts on our page in the mornings as well with the GM posts. So pay attention to the hints and claim those sbts.
Emphasizing the Importance of SBTs
At some point you will know more, but they are going to be very important. Okay, I keep on repeating that svts are important, so go and claim them. It's completely free, gasless experience. And I wanted to thank you for joining us today, for sharing with us, for bringing all your team together as well, to listen and to express their takes, their points of views and what they do and the company. And yeah, can't wait to see what the product going to be eventually looking like and how people got to find the new use cases.
Closing Remarks
I know there is a lot of DJ's, let's call them that way they explore the DeFi ecosystem. Like, I don't even stand close. Okay. They're leveraging the BMO finance and evo protocol and doing some cool crazy stuff that I don't understand. And I hope they can understand you at this deep level and to be able to explore the ecosystem in a little bit new way as well for them. With that said, big thank you. And I also wanted to say hello quickly to Howard, who just joined us on stage.
Advice for New Builders
So, Howard, welcome in. How are you doing? Let's wait for a minute forward. He dropped down. All right then, with that said, guys, I wanted to ask you one last thing before we close up the room is what would be the advice you would give to the new builders, to the enthusiasts that are just looking to get started today, what you would suggest to them? Yeah, I will say, just go, don't afraid and build it. Also go to the bootcamps so you can get traction and know the people. So these two things, if you have awesome idea, you prove that you can deliver and you show it to the community.
Expressions of Gratitude
Yeah, you will definitely will succeed. And yeah, it is my advice. But also, Victor, I want to say thank you for having us. It was really pleasure to share what we are building here. We are really excited. We want to share these emotions with you. And yeah, we're here to stay and we're here to build and develop the Tong Defi community. So, yeah, thank you for having us. Thank you so much for joining us. And yes, guys, please be on the lookout for those events.
Encouragement for Future Engagement
You know, Jerry Bond is attending some, co hosting some. There's been that. Musti, join us on stage for a minute. Same thing with him. You know, there is many other people. And make sure you go to the live events. And for example, I'm going to one next week, but I think it's just on society event. But the next weekend, and I'm going to Riga, which is also pretty cool. I just want to meet more builders.
Community Bringing People Together
Yeah. Victor, let me also say something in that regards. Also. You want to come into the african community, the nigerian community. Let's also have a discussion about that. Let's give people exposure to what you guys are building. I love what you guys are building. We have little of it on the Tonica system. It would be good to have more of it. And I love what you guys are doing. So let's also expose more Africans to this protocol.
Concluding Thoughts
Thank you very much. Sure. Let's do this. Yeah, he would like to do this. Let's go. With that said. Thank you everyone for joining us today. Thank you, Fiwa. Thank you for an entire team joining us. Ali, Dominic, Andrew, thank you for being here. Guys, keep on building. We're going to keep an eye. If anything, you already have chats with us. So just reach out, let us know. And we're going to wait for more updates from your site to come.
Final Instructions and Farewell
Everyone, feel free to join the community as well. And don't forget to claim your SBT. With that said, I'm going to be closing up a room. If anyone missed anything from the space, feel free to release them back to the recording. It is going to be available on our page. And thank you. See you at the next one. With you us, Victor, an orange PFp guy. And today, representing ton society. And it's my big pleasure talking to you guys.
