AMA Recap: Creator x GOEN
Creator is pleased to conduct an AMA with Goen Finance on the 3rd of June. Mr. Jason Vu — Goen Finance founder has answered all highly anticipated questions from community members. Catch up with us in this amazing AMA session!
Ms. Tina
Hello all, joining us today is Mr. Jason Vu — Founder of Goen Finance
Let’s say hello to the KoiStarter community Jason!😊
Mr. Jason Vu
Hi everyone, I’m so excited to be here ^^
Ms. Tina
Welcome mate
Glad to see you here:)
Could you introduce yourself to help our audience get to know you better 😉
Mr. Jason Vu
Sure
So, my name is Jason, Co-founder of Goen Finance.
Prior to Goen, I have worked at one Forex company, then KyberSwap — a DEX utilizing Kyber Network protocol. I only dove into blockchain/crypto in the middle of 2019, when I was looking for some of the most suitable ways to invest my money. After 2 years working at KyberSwap, I decided to quit that company & start my own project. That’s why I’m here today.
I was doxxed, you can check my LinkedIn here
https://www.linkedin.com/in/hiepcopywriter/
Ms. Tina
This will be very promising project worth waiting for 🤩
Mr. Jason Vu
I will do my best
Ms. Tina
Great!
Now, let’s kick off the AMA today with 5 introduction questions about Goen Finance!
Are you ready Jason?
Mr. Jason Vu
Yeah, I’m ready
Ms. Tina
Q1. First of all, could you tell us about the idea behind Goen Finance? How did you come up with it?
Mr. Jason Vu
That’s an interesting question
Inspired by Andrea Cronje, founder of Yearn protocol (you might know this bad guy in Defi) with the motto: “Earn it, don’t buy it”, the team behind Goen Finance decided to build a full-fledged aggregator to help you earn any desired token at low risk but significant return like BTC/BNB/ETH/DOT or any token you want.
Ms. Tina
Very interesting name of Goen!
I bet you will get many Japanese loyal users 😄
Mr. Jason Vu
Arigatour Gozaimatsu !
Ms. Tina
Q2. So, what are the main services of Goen Finance?
Mr. Jason Vu
The main service of Goen is “Staking”. Basically, you can stake token X, to earn token Y. ex: Stake BUSD, earn BTC; or stake CAKE, earn BNB; or stake BUSD, earn CTR whatever…
It’s a kind of “setup & forget” strategy. Basically, you can deposit your X token (working capital) and let it accrue other tokens by time for you, without risk, without gas fee or daily execution by you.
In the future, we will implement multiple strategies to bring the highest ROI for users, and enable more services like lending or portfolio management.
However, the most interesting thing is Goen Finance will be a DAO in the beginning. So all users can participate in governance to decide on significant improvements of this protocol.
Ms. Tina
Let’s move to the next question
Q3. I’ve heard that GOEN will conduct a fair launch in the late of June. But why is it a fair launch but not an IDO?
Mr. Jason Vu
Yeah, fairlaunch. Everybody loves fairlaunch.
So we’re trying to bootstrap our protocol as the way other big protocols like Yearn Finance, Badger Finance or Uniswap did in the past. Bread for everyone!
I believe that a fairlaunch provides a fair opportunity for retail investors against other flying-by whales who just pump & dump projects.
To be more specific, there are 3 big advantages we can see from fairlaunch:
For the project founding team: skip traditional fundraising and improve token distribution. (sorry, but I want to say *^E#&())_*^* them!)
For the community: Gives the opportunity to participate and buy and sell tokens from the very beginning, and is given the right to administrate, participate in voting for project changes.
For retail investors: Having the opportunity to buy tokens like funds, not afraid of large investors “discharge” causing the token to drop in price.
As the idea of fair launch is aligned with the model of Goen, also it is a fair chance for everyone to experience the beauty of the Defi world.
Ms. Tina
Thank you for the detailed explanation!
Fairlaunch’s lit!
I start loving it btw
Next question for you
Q4. Could you explain the tokenomics of Goen?
Mr. Jason Vu
Yeah, so I can explain via those 02 images:
Goen Tokenomics
Vesting Schedule
The vast of our tokens is distributed to ecosystem contributors as you (those who stake funds to earn other tokens, plus $GOEN).
For example: You would want to stake your $BUSD to earn $BNB with APR = 4%. But the protocol could award you more with 3% in $GOEN. Thus, you can earn APR 7% in total.
Also to prevent over-supplied GOEN token in the market, GOEN is a burnable token and cannot be minted more. We can consider burning chunks of GOEN tokens in the future.
Ms.Tina
Q5. Now, tell us more about the utilities of $GOEN token and Goen governance.
Mr. Jason Vu
Currently, we design 2 main utilities for GOEN token, all require veGOEN (vote-escrowed GOEN):
1. Participate in Goen Governance
2. Receive a weekly BTCB, ETH, BNB rebate, which totals 50% of DAO treasury.
Also, you can provide liquidity to our GOEN-BNB pool to earn extra GOEN in reward.
And not just that, more and more utilities will be added to power GOEN in the future, guaranteeing the benefit for all holders.
— — — — — — — — — — — — -
Regarding veGOEN, you might want to refer to vote-escrowed models of Curve Finance or Transchess. In simple text, it means:
1- You can lock $GOEN to earn veGOEN
2- with veGOEN, you can vote on all proposals of protocol.
3- And you can earn rebates in $BTC, $ETH, $BNB in the return.
Ms. Tina
Thank you, Jason
That’s the last question of the segment 1
Now, let’s move to Part 2: Twitter questions!
Wow, just take a look a this tweet
https://twitter.com/GOENfinance/status/1531976354320760832/photo/1
We got more than 600 questions!
Mr. Jason Vu
@@
Wow wow
Ms. Tina
No worries, I will choose just 3 questions from this for you to answer😄
Q1. What are the ways that generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both investors and your project?
Mr. Jason Vu
I’m glad that you asked. For our current product — staking pools, with our experience and technology, we will manage the fund provided by our users and utilize available protocol on the market to yield the highest APR possible.
5% of the interest harvested from the pools will be swapped to BNB and moved to DAO treasury & dev fund for further incentivize and develop of the project. 50% of DAO treasury to determine users’ voting rights, 50% left will be put in Treasury to fund development.
That way we create a full circle where investors receive rewards at low risks while saving their time, and our project benefits from the profit we bring back to our users as well. Our team will be encouraged to bring the highest APR since the higher it is the more revenue we will receive to further improve our product and roll-out new services.
Ms. Tina
Let’s move to the 2nd one
Q2. Can you tell us about the main GOENfinance targets you are currently focusing on and the market you are trying to reach? Are you going to make the GOENfinance project that grows on a global scale or will you be active only in certain regions for now?
Mr. Jason Vu
I already mentioned it above:
GOEN targets a large group of users, users with a lot of free money who want to make profits but are afraid to take risks, those who are new to the market who are afraid of risk or simply those who have a great love for top coins like BTC, ETH and want to earn these coins the easiest way.
Goen will add more functions and value to users in the future which help it have much more room for growth. We believe in the mass adoption of $GOEN in the long run.
And obviously, we develop Goen Finance on a global scale with the mission to reach users in every corner of the world, not just a certain region.
Ms. Tina
Yeah, great to heard that!
We are left with the last question from Twitter
Q3. Can we (as a token holders) participate in governance of GOEN finance project? And what mechanism has you implemented to make sure the Fairness of decisions making between small and big investor?
Mr. Jason Vu
Yeah, of course, you DO participate in governance of the protocol.
regarding the fairness, the more $GOEN you locked, the more veGOEN you will receive and your voting power also increases, and your rebates in $BNB, $ETH, $BTC also increases as well
So it is easy to see that the decision power of small investors and big investors is different. Fairness is in the fact that you get the rights and power equal to the money you invest in Goen.
Ms. Tina
Thanks Jason
Now, it’s time to move to the last segment — Live questions!
I will open the group after 10 seconds. Prepare your best question guys ;)
Time’s up!
Live Question
Q1. I’m concerned about the security of your platform. What do you do to avoid hacks and cyber attacks?
Mr. Jason Vu
Yeah, security has always been the most serious issue when it comes to this Defi space.
At Goen Finance, we are confident to have technology experts with experience in developing security systems and blockchain in our team. Besides the internal audit, we pick up some strong audit firms for all services on our platform before launch,
In short, Goen will do our best to bring the most secure system to our users.
Q2. How Goen and Creator could contribute to the development of each other. How do users of the two platforms benefit from it?
It’s such great news from Goen to partner up with Creator to develop a strong and highly secured Defi ecosystem. We can support each other in so many different ways, including:
Technical support: Defi services are regulated based on the “code is law” theory with all steps and transactions enforced by smart contracts. As a professional in blockchain technology, Creator will support Goen to develop an all-rounded and well functioning system by empowering staking, lending and portfolio management smart contracts of the platform, using the leading technology in the Blockchain industry.
Co-marketing activities: Beyond the technical field, we will also implement co-marketing campaigns with Creatorchain Network. Creator would provide Goen with major support to grow a strong community and extend its presence on the global scale.
Other support: Being a strategic partner, Creator can also spread the image across Defi lands by engaging $CTR with Goen’s services. Let us look forward to the ideal future for Creator where $CTR is on Goen token whitelist, and people can deposit $CAKE to farm $CTR with APR around 15%, or colateralize $CTR in order to borrow out other crypto assets and vice versa. The collaboration will bring fruitful results to all $CTR holders in definite.
Q3. Currently, most investors only focus on the price of a token in the short-term instead of the real value of the project. Could you tell us the benefits of holding your token for long-term?
With the non-stop growing trend of crypto currencies in general, more and more people are investing in this industry, especially big whales and incorporations. Investors are racing to obtain more and more digital assets, especially top coins like $BTC, $ETH, $BNB, etc.
As you know, Goen helps users earn these top coins safely and for free. Over time, the value of these coins will surely increase leading to the rise of TVL on Goen, contributing to the increase of $GOEN in price.
Ms. Tina
Thank you
That’s the end of the AMA today
Thank Jason for your participation today. Any words to share with our community?
Feel free to share your social channels with our comm
Mr. Jason Vu
Oh, a small “spoiler” for you guys
there will be a “big event” coming up on Creator channels. Since Goen will conduct a fair launch, $CTR holders will definitely have “something” as a special treat. Goen will spend part of our $GOEN airdrop to reward $CTR stakers at launch. More details will be announced soon. Just stay updated! 😎😎😎
For more information, please head over our channels:
Website: https://www.goen.finance/?lang=en
Twitter: https://twitter.com/GOENfinance
Telegram: https://t.me/goen_global
Telegram ANN: https://t.me/goen_ann
Medium: https://medium.com/@Goen_Finance
I think that’s it!
Thank @tinadang & Creator/KoiStarter community. It’s such an informative AMA. I hope can welcome you to our protocol next month. Have a good day. And WAGMI!!!!
Ms. Tina
Thanks again Jason! See you soon😉
