BiShares Finance AMA Recap
This post recaps the AMA with DeFi Vlad, Co-Founder of BiShares Finance that took place on the Mogul Official Discord Server on Wednesday, December 8th.
Intro: I know some of the community have already met you last night through Twitter Spaces, but for those who haven’t, it would be great if you could introduce yourselves and tell the community a bit about what you do at BiShares.
Defi Vlad: Yeah sure. I’m one of the co-founders of BiShares.finance a decentralized index fund-based platform. I and a few guys came up with the concept of creating index funds on the Binance Chain and since I have taken on the role of being the public face of BiShares
Well, my voice and avatars anyways.
Behind the scenes, I help design the concepts for new products, work with partner projects and just do whatever I can to help push the project forward.
Q1: That's awesome! Being the voice and avatar of BiShares sounds fun. I'm sure some people are wondering what decentralized index funds are, can you tell us more about it?
DeFi Vlad: Haha right. BiShares is a platform for decentralized Exchange Traded Funds or dETFs for short. ETFs are a popular way to diversify in a basket of assets. BiShares does this but with crypto and in a decentralized way.
The project’s goal is to be a safe haven for diversification with variable risk exposure funds suitable to different profiles, from conservative to profit maximalist. Our funds include entire market sectors and ecosystems such as DeFi, GameFi, NFTs, and others, without having to manage a ton of tokens individually. We believe that as a community we can build dETF products that will track sector growth better than the avg individual would on their own.
Q2: Gotcha! Recently, BiShares announced the partnership with the Blockchain Metaverse Alliance that consists of Mogul, NFTY Labs, CEEk, and Oasis. What's the goal of that partnerships?
DeFi Vlad: Yeah, great question
We are big fans of the metaverse... I guess everyone in crypto is. And we were looking for ways to help the sector in our own way.
BiShares as a protocol is built around helping liquidity for projects so we decided to build out a metaverse fund using LP tokens from projects we felt were the most promising such as STARS and CEEK and the rest of the Metaverse alliance
This way, (we) are able to help projects get more exposure to more communities, make it easier to invest in the whole alliance in one click, and help build LP liquidity for those projects while users earn yield the whole way
Q3: When I saw the announcement, it felt like watching the Avenger assemble scene haha
Aside from the Blockchain Metaverse Alliance, are there any partnerships in the works?
DeFi Vlad: Yes...We are always on the lookout for new partners. BiShares works best the more partners we get involved so we are always looking for partners we can help out with.
I noticed our biz dev @eznika here with me...he may chime in on some of these questions
Speaking of partnerships, we are gearing up for expansion to a new chain so there will be some partners to announce for sure
Q4: I'm excited to see what's coming. Let's move on to the next question, what other opportunities can we expect to see between Mogul and BiShares?
DeFi Vlad: We are constantly building new products which help support the ecosystem and we do have some more tricks up our sleeve.
Just not ready to announce the details yet...since everyone always starts asking WEN DEV
Q5: Now that we're talking about new products, what other products is BiShares building on the roadmap? Something that you can share a little insight on what's coming.
Eznika: For sure! So currently we have 2 main types of products: dETFs - decentralized Exchange Traded Funds, which contain a set of underlying tokens which give exposure to many tokens at the same time. As Vlad stated
The other product is YBF - Yield Bearing Funds (which on the FTM side we call Multi Farms). These consist of an auto-compounding token that gets the yield from multiple underlying farms at the same time. STARS is featured in the Metaverse Fund along with the other tokens mentioned before and BISON, which is BiShares native token. We also have stables YBF for example, which only farm stable coins so there's no IL for those who may be faint of heart of it.
We will keep building YBF/MF - of course - but we are also working on a little surprise which will be released on Cronos chain, I can't share much -yet- or Vlad will get mad at me. We really like surprises and the project is still young, we try to explore and innovate with products for our users
Q6 (@Sol): What are your criteria for selecting assets for the funds and what if the role of your token
Eznika: Great question! We pick assets and group them based on the sectors they belong to. So for example we have a fund that gives exposure to major coins like BTC, ETH, FTM, BNB, AVAX, etc. We do as well have a fund for GameFi tokens and big projects like AXS, Mobox, or Skill among others are included. We basically build funds according to sector and pick coins/tokens which would be suitable. So we take many profiles into consideration and based on their risk appetite
BISON is the governance token of BiShares which grants voting rights for protocol proposals. BISON can be staked to earn platform fees which are redistributed to stakers of it. We are currently working to grow the TVL of the platform which will result in more platform fees and more rewards for users. It’s important to point out that BISON is included in every fund and YBF/MF and that its a way to contribute to shaping the future of BiShares once the DAO is implemented
Q7 (@Sol): Are you positioning yourself for traditional and more conservative investors
We would definitely love to have traditional investors. Everyone has a spot at BiShares. For example, the CHAIN fund which I just mentioned is quite suitable for conservative profiles since it diversifies in top market cap projects like BTC, ETH, and BNB to name a few. There are many possibilities in fact and we build our funds trying to include every investor profile
Q8 (@Barcell1): Does BiShare have some hedge fund product with BTC? Like to when BTC crashes people at least in that fund could have some protection
DefiVlad: Working on something like this
Q9 (@Sol) — Today at 13:35
Will you be working to offer or be part of traditional retirement (401-k) type services
Eznika: Another great question! It would definitely be a great thing but crypto are still a new thing for most people. Not saying it’s not possible but as of now we believe the crypto market still has to mature and it will be some years before those types of funds are seen
Q10 (@Satm8una): Which metaverse platforms would you prefer to connect with?
Eznika: Projects included in the Metaverse fund are all great partners and very promising projects! We are very open to proposals from projects and always happy to talk
Q11: If there are no more questions, I'd like to thank @DeFiVlad and @eznika for doing this AMA. Can you please share your social platforms so the community can follow you guys?
Eznika: Sure! that would be great
- Website https://bishares.finance/
- Telegram https://t.me/bishares
- Twitter https://twitter.com/BiSharesFinance
- Discord https://discord.gg/w2jejq5rBP
- Medium https://bi-shares.medium.com/
- Youtube channel https://www.youtube.com/channel/UCjV58IkUJtWYLFBjmsA32iw