Unlocking new use cases in DeFi: GoraCast Episode 14 transcription

Text transcript of our recent AMA with Gora and RociFi.

Written by Serhii Krutko. Published on April 2, 2024.

    AMA
Unlocking new use cases in DeFi: AMA with GoraFi

Listen to the recording on X:

GoraCast Ep 14 is live now![https://t.co/Or8xZg9UGq](https://t.co/Or8xZg9UGq)

— Gora Network (@GoraNetwork) March 28, 2024

The space was hosted by Gora Network and RociFi. Thanks for the invitation, teams!

Hosts:

Norbi | Gora

Abdul | Gora

Chris | Roci

Fred | Gora

Guest:

Dhruv | Qoda

***

Norbi

We are now on Episode 14, and today marks one of the biggest milestones for Gora Network itself. To start off with, we’re going to get a quick intro from our special guest, Dhruv Dang, the CEO of Qoda Finance. If we could get a quick intro from you, that would be nice.

Dhruv

Hey, thanks for the intro, and thanks for having me.

My name is Dhruv Dang. I am the CEO and founder of Qoda Finance. Our goal is to decentralize institutional financial services and make them accessible to everyone.

The second part of that mission is really important to us. We believe financial services should be accessible to everyone, and that’s the true spirit of DeFi. I’m really excited to be on this Goracast episode with you. I know we have a lot of exciting stuff to talk about.

Norbi

Amazing. Yeah, we really appreciate you coming over as well. We’ll just get a quick intro from Roci. We have the CEO, Christopher Brookins. Could you introduce yourself and say what Roci is, then I’ll go into a quick intro about this Goracast.

Chris

Sure, no problem. I’m Chris, one of the co-founders of Roci, an on-chain credit oracle that allows users to monetize their on-chain history. I think the biggest news of this week is the merger. Roci is merging with Gora and looking to bring what we’ve built within that stack, particularly with EVM DeFi, to Gora so that it can expand its tentacles and also unlock new use cases within the DeFi stack, which, hopefully, we’re going to be able to dive into it.

Norbi

Thanks for that. Probably everyone knows Abdul Osman here. He is the CEO of Gora Network itself. We also have FRED, the CMO of Gora Network, and I am Norby, the community manager at Gora Network.

And without further, we can get started. So today we have the Goracast mainly about the merger between Roci and Gora Network. And we jump on some topics about it. Why merger, what benefits it willl give, the potential behind this, the DeFi risk oracle, and as well, we jump in with Qoda Finance and see how that brings benefits between the parties too.

So I’ll hand it over to Abdul if you can throw some words in here.

Abdul

Yeah, for sure. So, thanks to everybody for joining and for moderating, Norby. It’s a real pleasure to be on the space with some heavyweight entrepreneurs. We’re working on Gora, a decentralized oracle. A lot of our focus has been on enterprises. Getting deeper sensor data on-chain helps with the verification of real-world events. And what one thing we realize is a lot of these organizations building on the blockchain are in that prototyping phase where they’re going to be building solutions that are not necessarily here now, but a very long sale cycle of 8 to 10 months of this, testing it out and then another year of determining if that’s what they wanna do.

But here and now, the most pressing need is always, I think, giving people the ability to do more or do what they want with their finances. The ability to kind of take money and really do these novel things in DeFi is what excites so many people and why a lot of people are here.

Chris has quite a few connections in the DeFi space. And I think Qoda is a great example of exactly being able to get tokens and then borrow against them. This is such a cool use case. But I think for us, this merger made a lot of sense because it allows us to use our price and just custom-type oracles for the most pressing use cases for oracles right now, which is DeFi. So, that’s one of the reasons we can, maybe, Chris, give you a few words on it. We did have a Twitter space a few days ago.

Chris

Yeah, I appreciate that. I touched on it a little bit with the kickoff, but being able to combine is the biggest thing. Abdul and I can see the green space within the Oracle sector. A lot of it is just the same old, same old, leaving a lot of design space. But there are also many potentially untapped use cases to build upon, especially for novel new strategies or whatever it may be.

So having the ability to, in our particular case, combine just regular oracle price feeds and even long-tail asset feeds with wallet-level information that taps into a user’s behavior across a variety of different protocols and EVM chains. You can be able to do that seamlessly and possibly even be able to connect some off-chain pieces of information through that same exact oracle network. And you’re getting it and receiving it through a web3 API is really powerful. So it reduces complexity, it reduces cost and also it enhances scalability and performance there as well. We’re excited to be able to tap into that, like Abdul said, DeFi is now back in vogue and I think there’s still tons of green space to be signed upon.

And with the merger, we saw an opportunity to be able to bring that forward at a faster pace as a combined entity versus working separately. That is the biggest thing I’m very excited about, and I’m also very excited about being able to highlight Dhruv. He’s thinking around DeFi in a lot of the same exact ways that we are as well, being able to push it forward, having some real-world utility growing the space, and pushing the envelope of innovation. So happy to talk and continue to hear more about that and then also touch into some of these new areas that will look to unlock.

Abdul

Dhruv, you’ve provided a high-level overview of Qoda. Let’s start from there. I think the original design of Qoda was incredibly unique. Where you’re looking in to push it with V2?

Dhruv

Thanks for all the intros, everyone. It was really great getting to know everyone on the Gora side a bit better because we haven’t had a chance to do an AMA before. So it’s super interesting to hear about your backgrounds and plans for the future. And Chris, it’s nice to be chatting again. Amazing stuff has happened since the last time we spoke about the developments on your end.

A brief history lesson. Qoda started back in 2021 as an idea to bring better credit markets to DeFi. At that time, Aave and Compound were really the prominent players, pool-based liquidity was at its height of excitement and euphoria in our industry. But having had a traditional financial background, I knew that real volumes just weren’t happening on DeFi. We needed to bring TradFi volumes to DeFi, and we can do that through fixed-income and credit markets. That’s how Qoda was born as a decentralized orderbook-placed fixed-rate lending and borrowing marketplace.

It was the first of its kind, we still don’t have any competitors. There’s no one else really doing this and we’ve been out now for over a year in production. We’re live on Arbitrum One and have had over $2 million of loans settled autonomously through our smart contracts. It’s really exciting. Chris and I started working together, and we said, let’s bring Roci’s credit scores to the portfolios on Qonstant. It’s been a really exciting partnership to have.

But along the way, as start-up progresses, we learn from our users and our community feedback. While it was something that brought the innovations of TradFi to crypto, we also needed to embrace the reality of how people are interacting with DeFi on-chain. There are some pressing issues that exist in DeFi that need to be addressed and haven’t yet been addressed by the protocols in the space. So, again, Roci, and Gora, and Qoda are working together to address some of the most prominent issues. Some of them deal with vesting contracts on-chain and unlocking capital and liquidity from assets that are locked inside vesting contracts.

Credit markets are the best way to unlock liquidity and capital from idle assets. We’ve seen that from overcollateralized borrowing on-chain, we’ve seen that from traditional borrowing off-chain. We believe that there is a ton of assets and value that are locked inside vesting contracts from teams and investors that can be better utilized to grow the DeFi community. And what we’re working on now is Qonstant V2, which embraces this challenge to try and unlock liquidity from unvested tokens.

Chris

It’s perfectly laid out, and again, we’re cut from a similar cloth, have similar backgrounds, and similarly see the future of DeFi. In order to scale, we need to bring in those larger amounts of capital. There has to be a different model than just fork Aave or Compound and slap new token economics on it. It’s not great for those projects that have done that, but that ultimately doesn’t move the industry further to where it can actually become.

I think this concept of lending on unvested token contracts is incredibly novel and incredibly interesting. We’re also seeing more and more burgeoning demand for it right now, not just from this particular pilot that we’re talking about but also some additional OTC deals where early-stage investors are looking to sell out of their tokens to later-stage investors simply because they’re looking for liquidity.

You’re seeing that and other teams looking for other areas like how to sell and do OTC, but it doesn’t necessarily need to be that way with this next path coming up. If the pilot goes successful with unvested token lending, it seems to be a win-win for all parties involved, as you don’t have to injure or hurt the price chart for that particular token or put downward sell pressure on a token that could negatively affect the DAO’s Treasury Reserve or sentiments or whatever it may be. So I really think that this is a unique concept and I’m really interested to see how this plays out in practice. But with that being said, Dhruv, let’s dive deeper down the rabbit hole with more details.

Dhruv

You’ve put it really well. The reality is if you are a whale in a particular project and you have a bunch of tokens, the only way to really unlock liquidity or realize some of the benefits of your investment or participation in the project is by selling those tokens. And that usually has a huge negative impact on the community. If it’s done sort in the wrong way. So, facilitating borrowing against those vesting contracts is definitely gonna help achieve better, I guess, protocol health outcomes and DAO health outcomes. An example that I can think of is almost every protocol that deals with a corporate treasury or a team treasury that’s sitting on a vesting contract.

We’re coming out of a bear market now depending on how the market has gone. So, I imagine there are other teams dealing with cash flow issues. The only way to address that is by selling some of those treasury tokens, which can really hurt the prospects of the token and the team in the long run. So, being able to borrow as a team without actually having to hurt the price movement of the token, I think, is super valuable. This is one of the outcomes that motivates us to really build this, right?

So diving into the details, how can this work? How does a lending and borrowing protocol work? What are the key pieces to make it function in a decentralized manner?

It’s kind of counterintuitive because crypto is fully anonymous. How do you lend to someone who is anonymous? You don’t know who they are, and you don’t know if they’re going to pay you back. That’s the core aspect of credit risk.

Well, the known solution is overcollateralization and liquidation. Borrowers post up collateral, for example, in Qonstant, you can post collateral into a single collateral pool in a bunch of different assets. Let’s say it’s WBTC, ETH, and ARB. As an example, the protocol and small contracts will automatically value that collateral based on oracles like Gora to figure out the US dollar value of that collateral that will then be in dollar value and will be adjusted to get your virtual collateral balance. And that’s the collateral you can borrow against and whatever token that’s available on that marketplace.

Now, that limits the use cases of borrowing. People can’t really borrow undercollateralized because there’s no guarantee that the lender will be repaid their funds. Because the borrower remains anonymous and other protocols have solved these problems by doxing their borrowers or working with institutions.

I think Maple Finance is an example where they work with large institutions or large whales that will do a KYC process and say we want to borrow a 10% interest without any collateral. And you can use the typical legal framework to pursue repayment in case of default.

But there’s a problem with that. That’s not really in the spirit of DeFi. W e want to make this accessible to everyone. What about all the small teams out there that have vesting contracts and all the investors that are helping to bring new technology to our industry?

They aren’t really able to capitalize on the true value of borrowing on-chain because it has to be overcollateralized.

So we want to build independent markets in Qonstant V2 that allow borrowers to dictate the terms on which they want to borrow and deploy that market.

So, a market that can potentially have partial collateralization or still be overcollateralized. But with liquid assets, notice how when I talked about overcollateralization before, with Qonstant V1, they were really liquid coins, right? Wrapped Bitcoin, ETH, ARB, there were no illiquid tokens in that list, and that’s because we rely on liquidators to liquidate collateral in the event of default.

But what if someone’s sitting on a million dollars of unvested tokens, and it’s super liquid, no liquidator would want to liquidate that. And the tokens aren’t actually accessible to be liquidated because they’re not vested yet. How do we reconcile this to enable a new type of borrowing on-chain?

We are working on the legal framework to enable that kind of lending and borrowing. When lenders and borrowers meet at the marketplace run by Qonstant V2, they understand the terms of lending and borrowing to each other and the risk involved with it.

So, it’s all done in a way that’s completely regulatory compliant. There are compliant regulations, apologies.

The second is the physical settlement of collateral.

We need a way to value the collateral using Gora protocol oracles and a way to qualify borrowers using grossly credit scores.

We need a way to economically reconcile these unvested tokens with lenders in the event of default. For example, what if a borrower doesn’t repay on time or maintains not enough collateral to finance their borrowing position?

So, what we’ve figured out is that this can be done through physical settlement during a liquidation where the lenders take control of the vesting contract, and that greatly incentivizes the borrower to repay on time because not only do they get paid in the vesting contract in the underlying tokens over time um in the value of the loan that’s owed to them, but also a significant penalty.

This penalty doesn’t get paid to liquidators, random third parties that operate to maintain these protocols. So it doesn’t incentivize devs. Instead, it incentivizes borrowers to ensure they repay their debts on time.

So this is the core innovation of Qonstant V2 and what we have figured out. I won’t step on your toes, Chris, but we actually have a couple of partners in mind to work with us on the first marketplace that will use this mechanism.

Chris

I love it. I mean, obviously, this from top to bottom and incredibly vital component in sort of bringing this innovation to life and pushing the boundaries of getting back to what true credit is.

So, what we have right now, it’s credit kind of. But with overcollateralization, there’s no risk in it. True credit comes from the undercollateralized component of it. And I think how you’re framing and setting up Qoda V2 is to be able to push that boundary and get to that in a more friendly manner in general, where it fits with the ethos.

I’m very curious to hear about the one project that will be rolling out with the pilot. But have you been talking to any other ones? If not happy, we can sort of go back and forth organically talking about the schematics of the pilot and also the project as well.

Dhruv

Yeah. We do actually have some partners with whom we are working and have in-principle agreements to borrow using Qonstant V2. So beyond vesting contracts, we really want to diversify.

With Qonstant V1, we really standardize how people lend and borrow. There is a fixed set of markets, every market has an orderbook, a fixed maturity date. And the thing that floats freely is the interest rate and that’s really valuable to build something like a yield curve, but it standardizes the credit risk. And what we realized was we actually need to standardize the terms of lending and borrowing, things like the APR and price discovery and allow credit risk to be something that is more flexible.

So, when lenders go to Qonstant V2, there should be a dashboard of opportunities to invest in by lending based on different levels of credit risk.

So, when we talk about the physical settlement of vested tokens and unvested tokens over time in the event of a default, that depends on the investor. That’s a very unique level of risk, right? because you’re still getting an asset if something goes wrong.

However, other investors may have a different risk appetite. They might want more yield where there’s no collateral or undercollateralized borrowing, and that should be reflected freely in the market.

So we have some partners in place, unfortunately, I can’t announce their names today, but they are ready to borrow uncollateralized with us.

Chris

That’s amazing to hear. I know you went through it so well and succinctly, but it is so for those that might not know that Roci was built to bring in undercollateralized lending within DeFi. So, as long as you had an EVM wallet in history, you had the ability to generate a credit score that could get you undercollateralized terms if it was good enough. We ran the credit side of the house obviously, and then we also had our own lending platform as well where we offered customized terms for wallet addresses routed into the different pools based upon it.

It was a really novel concept. But at the end of the day, we had to sunset that to be able to focus solely on the credit oracle side because that is where we had a competitive advantage. And obviously that is the biggest area of scalability for a common good within DeFi. This concept of being able to put the boundaries of undercollateralization is incredibly near and dear to my heart. So to hear how you’ve kind of tackled these individual components and seeing where Gora is wedging itself firmly in the center of it is, is really powerful, and yield is the name of the game right now.

So, as you mentioned, I think lending on blue-chip assets, regardless if it’s undercollateralized or what had to be able to push the APR boundaries and the borrow rates really aggressively or not really aggressively, just above average, so to speak, it’s difficult. We kind of even saw that within Roci. However, with some of these more novel concepts like what we’re talking about, unvested tokens, and everything else, not only does it solve a huge pain point for a lot of projects, DAO contributors, and investors out there. But it really helps out in a variety of other ways as well because you can begin to make it a lot more attractive for lenders and also the customization of the types of risks that they want to take as well.

You’re seeing all sorts of new protocols that appear to have sustainable APRs of 20%, 30%, et cetera. Only time will tell whenever the water goes out of the bull market, whether or not those APRs were in fact actually sustainable or there was some underlying hidden risk associated with it, which we all found out with Anchor and Terra sort of the hard way, the last cycle. So we’ll just have to wait and see. Whereas with un or undercollateralized lending, everything is point blank, you know exactly where that risk comes from. If this particular borrower, whether it’s an individual or it’s an entity at DAO, doesn’t repay its debt for whatever reason it may be, there’s a market crash, you know, exactly that is the risk that you’re taking on whenever you are signing up and you can choose to reflect or deposit into the lending pools where the APR most suits that risk tolerance that you want to take on. And in which case, you can envision a world where we start pushing those boundaries of the 20% and of the 30% as well for the deposit or for the borrow rates. It becomes very, very attractive.

I think there’s a lot of education component that goes into it because this is a very novel concept within DeFi where everyone expects that everything’s overcollateralized. Everyone expects that if anything happens negatively, the protocol will sort it in X and Z that’s not how credit works, nor should it be how credit works. There should be enough information out there provided through Gora oracles so that lenders can make the most rigorous decision as best as possible and take on the associated risks that they feel most comfortable with. So, Dhruv, feel free to push back on anything that I might have said. But that’s kind of how I see it, like the excitement of it, but also where I can see it evolving into a go-to-market strategy or perspective product market fit.

Dhruv

Yeah, you’ve given a great overview. I think one thing that stood out to me was it is definitely something new, right? And with anything new, as you pointed out, a lot of learning needs to happen and we’re prepared to help our communities learn as much as they need to learn to, to be able to use Qonstant V2 productively. And the core aspect of that is presenting the right information.

I know Gora and Roci are in the information business, and that information is going to be very useful for lenders and also for the protocol to stay healthy and compliant. But one thing that we have learned in the last, I would say, three years of building, us that our team really cares about user experience. And it’s probably the most cliche thing said by any tech company ever. But it’s true and we admit that we’re not perfect at it like we want. It’s something we are continually trying to get better at. With Qonstant V1, we learned that bringing something new to the market and providing educational materials out there, sometimes isn’t enough. Sometimes we have to do even better in UX. With Qonstant V2, that’s a real, core part of our goal to make it as easy as possible to execute on your decision as a lender or borrower..

Getting to that point is an educational process. You’re learning how to use the platform, you’re learning about the borrower, you’re learning about the assets that need to be lent, and you need to learn about the collateral. We will do our best. With the support of Gora, it’s easy for lenders to get to that point. But once you get to that decision point, making the decision to actually lend should be super simple.

So the supply mechanics that most people are used to with existing lending and borrowing protocols are going to continue forward with Qonstant V2, which means that you don’t have to think so much about quotes or positions and unwinding positions as you do with Qonstant V1. Instead, lending funds in a market is a matter of just entering how much you want to lend and supplying to that market.

Redeeming your funds involves entering how much you want to redeem and redeeming that amount as long as liquidity is available to early unwind your loan position.

So, that’s another core aspect of this. I guess I’m being a little vulnerable here for our team, but that’s something our team has learned continually over the last three years. And we’re really looking forward to bringing it.

Abdul

Some really cool things are being discussed here. I want to jump to a couple of future-facing things. There’s one protocol we work with Nimble Insurance.

If this all starts to really come together, insurance protocols are gonna start wanting to jump in to maybe provide insurance. This is a great thing, very high repayment rates. Maybe there’s some money to be made and in the sense of insuring against defaults, for example. I guess like credit default swaps are a huge market in TradFi, and that’s one of the objectives. What do you think, Dhruv?

Dhruv

There is definitely scope for insurers to examine that and ensure certain markets and loans. Based on the credit risk of each market, we’re totally open to collaborating on that.

Abdul

Yeah, for sure. I’ll make a connection. Maybe we can chat further on that offline. In our private chat, we are always talking about “he got an allocation in this, and they all got an allocation that.” People are actually selling allocations before the token hits the market, or you have seed investors who might want to do something before. And we seem to be moving to a world where things are becoming tokenized on the chain more and more.

Getting back to V2, obviously, pricing is a bit harder here, right? Valuations are going to be more art and science when something hasn’t launched yet. But you see something where Degens could start participating in creating a whole new market of finance.

Dhruv

Definitely. I think that if there’s someone who’s thinking about selling their allocation, the benefit of borrowing against that allocation might negate the need to sell it in the first place because there are usually two reasons to sell, right? One is I want to realize a profit that there’s no market for yet. So I’m gonna sell it at a price that’s probably lower than what it would trade at to unlock that profit. Now, the second is I need the capital to invest in something else or to use it for something else.

My gut feeling is that they would. It would probably be that people are trying to sell their allocations for accessing other opportunities that may be happening, right? Or other sales they want to get allocations for.

If you can borrow against your allocation, then you don’t really have to sell it and lose the exposure and any potential upside you may get in the coming weeks by just keeping it.

So this allows you to unlock a portion of that capital, at least by borrowing against it. And I think that’s what Qonstant V2 will offer as an alternative to outright selling it before the TGE.

Abdul

Yeah, that’s actually a really good way of putting it, and I hadn’t really thought of it. People are being made to make very difficult decisions when there are thousands of crystal assets in their wallets. Right. It’s like: “I really love this project and noted them do well, but I really wanna buy that shining token.”

So, you’ve just sort of made the decision a lot easier for many people.

Tell us about some of the chains that you’re on and your areas of expansion. Do you see yourself as being on as many chains as possible, or are you focusing on some of the chains that have more of a five-focus?

Dhruv

Yeah, that’s a great question. You know, we believe in multichain, in the sense that we want to help as many people as possible regardless of which chain they prefer. Regarding practicality, we’re EVM compatible, that’s our focus.

One product that we recently launched, which is actually related to the services that Roci and Gora offer and I can dive into that, is Threebalance. We’re almost a month after launch. It’s a product that we were able to build in about 2.5 months from idea to production, which I’m very proud of the team for. It allows people to rebalance their crypto portfolios in three steps. So it’s really easy to connect your wallet, view your portfolio, view the allocations in your portfolio as a percentage of your total holdings, and enter your new allocations as a percentage. Threebalance will figure out the trades you need to do. And it’s all done on-chain powered by 1inch, some of the best prices out there.

We’ve already had quite a bit of volume go through with very minimal marketing. So I think over 100 and 50,000 have traded volume, which is very exciting for us. And we’re nearing the 100 mark of actual rebalances being completed.

Our vision for Threebalance is pretty big. We already support five chains, but we are building our own engine on top of 1inch liquidity that integrates very deeply with other DeFi protocols. So based on TVL activity, we’re gonna decide which protocols to integrate with first.

Qonstant V2 is definitely going to be a part of a Threebalance portfolio. Because it’s one thing to be able to rebalance your exposure based on speculative assets, the crypto equivalent of equity, right? Tokens.

Another thing is to be able to level up your portfolio management skills with debt. Qonstant V2 positions will be tokenized as ERC20 tokens, which means we can start treating them as a portion of your portfolio. We want to have those loans embedded into Threebalance portfolios. You can actually choose your allocation to debt as a part of that rebalancing flow, which takes about 45 seconds to rebalance.

Another thing that we can do with the partnership with Roci and Gora is to start thinking about how a basket of loans might look. So if we think into the future, right? And you know, we’ll start small with 11 markets on Qonstant V2, and we’ll grow as the interest picks up.

But imagine we’ve achieved our vision, right? We have 100 different markets, all with different creditworthiness and credit profiles reflected by a Rocis credit score, right? And we use Gora prices to price these liquid assets. What if I don’t want to just lend all my funds to one borrower? I want to diversify my credit risk to multiple borrowers who have collateralized with multiple different vesting contracts.

How do I quantify the risk of that portfolio of loans? That’s part of Threebalance’s vision, it should be the portal to understanding your portfolio and risk exposure on DeFi, not just on one particular chain.

I know it’s kind of an extended answer to your question about multichain, but I could totally see a way to use Roci data and Gora oracles to come up with a composite score to quickly understand your exposure to a basket of loans with different credit worthiness.

That’s sort of the lines we’re thinking on right now and what we’re building. So, Threebalance is out. You can try it. I really recommend you try it, even if you just want to trade a dollar. It’s worth checking it out. It’s the easiest way to do multiple trades with your portfolio.

Chris

I love it. It’s definitely something that I can see us leveraging. But I love the vision. Again, it’s something near and dear to my heart to be able to create essentially a freely tradable fixed-income market. So it’s a huge benefit for users like the retailers and the degens, but also maybe for some of the sophisticated whales and institutions. I think it will be incredibly invaluable 100%.

I mean, there is definitely a way for us to partner with Threebalance in the short term. And then also, obviously, as that continues to catch traction and move forward in the long term with all the other areas that you had mentioned previously as well. So I think it sounds amazing.

Dhruv, why don’t you tell everyone where they can find yourself, where they can find Qoda, and maybe anything else that you might have coming up in the near future?

Dhruv

Thanks, Chris. The best way to stay updated with our news is through X. So the Qoda Finance account is listening to the space. We have a couple of other X accounts that are linked from there, but that’s the main one you want to follow. We also have a very active and vibrant Discord. That’s where you can create tickets and make suggestions. We’re always open to feedback. We love community engagement.

We also have a telegram group. We also have a telegram channel with announcements. Those are all linked from X and Discord.

Something coming up soon is the launch of the Qoda DAO, which will be quickly preceded by a liquidity bootstrap pool, launching the QODA token. We’ve started the QODA Qountdown. We have a million tokens we’re giving away. Now is the time to take part in our DAO as it’s formed, all of the products we build, all of the stuff that we’ve talked about will be governed by stakers in the DAO. We are planning to do a revenue share as well.

Chris

Beautiful. I appreciate it. So I think we got one question that came in. The questions about a particular day or time frame for our official launch on Ethereum.

Gora oracles are already on testnet, and some partners are utilizing a variety of EVM chains as well. So that is there, and we will be pushed abroad very shortly.

From a credit-scoring perspective. Obviously, we come from the EVM world. So that’s our bread and butter. We cover all the majors within EVMs. In regards to the token outcome, more details will come over the coming days, but we don’t have an exact time or date for when we’ll be launching that particular ERC-20 token. We will be communicating with the community very regularly and whenever we have that exact date, as well as exact instructions, et cetera, how to follow, where exactly the ERC-20 launch will be.

We’ll send it to the community and likely even hop on another AMA to walk through the different steps and answer any outstanding questions. But thank you for the question.

Dhruv, thank you so much for coming on, talking about your vision, and sharing your passion with us. Abdul, thank you for joining us as well, walking us through your vision again for Gora, asking some great questions. Norby, thank you for hosting. Look forward to doing it again and also look forward to pushing the pilot forward together with you Dhruv in the coming future.

Dhruv

Awesome. Thank you so much, Chris. Thank you, Abdul, Norbi, Fred. Really appreciate being on this score class episode. I love our shared vision, and I’m so excited about the stuff we’re building together.

Chris

Excellent. Likewise, enjoy the rest of your week, and we will talk to you soon. All right, everyone take care.

Norbi

Thanks for joining, everyone. I really appreciate you guys as well. Everyone here, be on the lookout for the Gora Network X right now, Roci, and Qoda Finance for the latest news regarding the merge. We are in the process of launching a token on ERC-20.

Make sure to share this Goracast. We are on Spotify right after the Goracast ends. So if you would like, you can either do it here or via Spotify, but I will end it here. Thanks again, everyone for joining, and we’ll see you on the next episode.

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