AMA Recap: CRYPTO MINERS X OOKI

Ooki is a protocol for tokenized margin trading and lending. It is a financial primitive for shorting, leverage, borrowing, and lending that empowers decentralized, efficient, and rent-free blockchain. Ooki Protocol allows anyone to build applications that enable lenders, borrowers, and traders to interact with the most flexible decentralized finance protocol on Ethereum. Ooki is a fully decentralized community-run project, governed by the community vote for all major changes to the protocol. Ooki is a powerful and fully decentralized margin trading, borrowing, and lending platform with a ton of features. Ooki is a protocol for margin trading, borrowing, lending, and staking. The OOKI token is a governance token that allows the Ooki community to govern the protocol through staking OOKI token and voting in the Ooki DAO. The Ooki ecosystem is designed to emphasize community control over the protocol through governance, fee sharing, and voting. Ooki Protocol currently supports four blockchains: Ethereum, Polygon, Binance Smart Chain, and Arbitrum. The Ooki community is creating innovative, cutting edge financial software with a focus on radical decentralization. It creates unstoppable applications that are sustainable, efficient, and rent free. The global financial system is filled with middlemen that can and will be replaced by software, and Ooki is that software.

We hosted an AMA session with OOKI on 8th August.

Mr. Ramsy was the host from Crypto Miners and Mr. Paris was the guest. He shared delightful knowledge and unique features of OOKI.
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Segment 1️⃣: Introduction

Ramsy | Crypto Miners:
Hello everyone 👋 Welcome to the Crypto Miners #Special AMA session With Ooki

To help us learn more about Ooki, We are lucky to be joined By Mr. Paris

Paris:
Hi guys glad to be here 😄

Ramsy | Crypto Miners:
Hey there 👋

Welcome here ❤️

Thanks for bringing Us Ooki

Paris:
Thanks for having me

Ramsy | Crypto Miners:
How are you doing today mate?

Paris:
Im doing great, yourself?

Ramsy | Crypto Miners:
So do I 😃

I’m pretty sure that our Community is very much excited to learn more about Ooki✌️

So let’s get started if you’re ready!!

Paris:
Ready to go sir 🙂

Ramsy | Crypto Miners:
First of all Please give us a brief explanation about ‘Ooki’. What popped up in your mind to create such a platform in this Space?

Paris:
Ooki is a powerful and fully decentralized protocol for tokenized margin trading, borrowing, lending and staking enabling the building of Decentralized Applications for lenders, borrowers, and traders to interact with the most flexible decentralized finance protocol on multiple blockchains. Ooki is a fully decentralized, community-run project, governed by the community vote for all major changes to the protocol.

The main driver of creating Ooki was to deliver financial independence by reinventing financial services for a decentralized future.

Ramsy | Crypto Miners:
Thanks Paris for this well start about Ooki 👍

Now let’s see our second question from this segment

Q2) So what are your main features and advantages that discern you from other Projects?

Paris:
Fully a DAO — Ooki is for everybody and we want the community to be involved.

Leveraged spot trading

Dex selector — allows users to specify liquidity providers

Dynamic interest rates engine — interest rate parameters change according to supply and demand

Low fees on most chains

No KYC — Fully decentralized — No ID confirmation just connect a wallet and start trading.

Ramsy | Crypto Miners:
May i ask How many Chains Support Ooki and What are they?

Paris:
Of course.

Ooki currently supports

- Ethereum
- Binance Smart Chain
- Optimism
- Polygon
- Arbitrum

And more coming soon 🙂

Ramsy | Crypto Miners:
Glad to know 👌

Q3) How has the experience and background of your team been effective in the success of your project so far?

Paris:
The Ooki DAO members are international and come from a wide variety of backgrounds. This means that we complement each other very well and can cover all areas.

We have some really bright people in the DAO, many of them already are OGs. They understand the crypto world, know what’s important, and also have a pretty good idea of the direction crypto will take in the next few years. In this respect, we are therefore well positioned and not afraid to take on challenges.

Ramsy | Crypto Miners:
4) Now Share us about your Native token, What are the some of utlities of $OOKI Token in Your Ecosystem? And if possible share to us the Tokenomics

Paris:
OOKI is the primary token of the platform. OOKI is a governance token first and foremost. An active and vibrant community of stakeholders collectively advancing the protocol is at the heart of Ooki.

Users who stake OOKI tokens are eligible to earn fees generated by the protocol and are able to vote for representatives responsible for approving upgrades to the protocol.

OOKI is designed to kickstart liquidity, and network effects by aligning stakeholders’ long term interests. Other utilities are being worked on for the token right now, like paying fees with it or getting some sort of discount on fees if you hold OOKI.

The current maximum supply of OOKI is 10.5bn OOKI Tokens. About 4.1bn are in circulation. The rest is vesting until spring 2024.

Ramsy | Crypto Miners:
Q5) So how long did it take to develop this project? What plans do you have for the future? And what can we expect from Ooki If possible could you please share road map with us.

Paris:
Ooki has been live since 2017 but had a rebranding at the end of last year. So the core team has been working on it for 4 years. That makes Ooki an OG of DeFi.

We have a lot of features and new stuff in the pipeline. Things like limit orders, permissionless listings and a pro interface for professional traders are currently worked on and will be released this year. We also plan to strengthen the community by implementing different ways of social trading and social sharing and other cool stuff.

Ooki has always been targeted to be the gateway to DeFi. You can trade, stake, lend and borrow everything in one app. With our easy and intuitive platform and our Ookiversity, we make it possible for everyone to participate in crypto. This is our main target fo the future. Our community is very active and passionate and we aim to be the Binance of DeFi. That’s what we’re working on.

Since we’re a full DAO, we don’t have a roadmap showing the plans years ahead. This always depends on the will of the community. But we have community goals which can be seen on https://ooki.canny.io/roadmap. The above mentioned features are those to come next. Then we see what the community wants next.

Ramsy | Crypto Miners:
Thanks Paris for this well detailed introduction about Ooki:)

And that’s the wrap up of our the first part of the AMA session ✅

Let’s now proceed to our Twitter Questions section

i hope you’re ready for that!!

Paris:
Let’s go 🙂

Ramsy | Crypto Miners:
Cool 👍

Paris:
We have no game at the moment 😄

Segment 2️⃣: Twitter Questions

Ramsy | Crypto Miners:
1)You said that Ooki doesn’t ask for our identity nor does it run credit checks on our financial history. So how could you recognize that your user is not scammer or hacker without checking their identities do you have other ways to check their backgrounds?

Paris:
Ooki has no need to check KYC. They’re connect with their wallets and interact with our protocol. That way they cant harm the protocol. It is vastly different from a CEX.

Ramsy | Crypto Miners:
2)Market is currently experiencing a decline, this condition is exacerbated by rising interest rates and inflation. people prefer to abandon risky assets. How do you convince new investors that your project will be useful in the future?

Paris:
Ooki does not comment on the market movements, although we do believe our tech speaks for itself!

Ramsy | Crypto Miners:
That’s the wind up of our twitter segment

Now Moving on to our last segment — Live Q&A

Shall We Go mate?

Paris:
yep!

Ramsy | Crypto Miners:
lets go then

Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and Miners sent hundreds of questions. Guest choose some best to answer)

1) Alejandro:
First of all, thank you for organising this awesome AMA
How does the OokiDAO team manage the security of the protocol? And what does “first FULLY decentralised exchange” mean in terms of security?

Paris:
Thank you!

We have several audits and a bug bouty program.

This means that evreything is transparent and can be verified on chain 🙂

2) Munna Bhaiya:
Can you tell us about lend and borrow feature and what is the lending rate? How can we lend on OOKI and what are the supported crypto for lending? Also tell us the same for borrowing.

Paris:
Best to see for yourself! The rates can vary 🙂

ooki.com/lend

ooki.com/borrow

3) emeka:
Just like some exchange have trading BOT, is there any BOT that can be used for trading on OOKITRADE?

Paris:
You can make your own bots actually!

4) 🅲🅰️🅻🅴🅱️ 🆁🅾️🅼🅰️🅽:
Is your project for English speaking countries only or do you have a community for non-English speaking users? If so, are they local ???

Paris:
Our homepage supports many languages! Take a look 🙂

Hello.ooki.com

5) Bot_Gamar_M:
Do you allow suggestions and feedback from the community? Are we allowed in decision making, do you put community into consideration ?

Paris:
Of course! Just head to our telegram + community forums 🙂

6) Bot_Gamar_M:
Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?

Paris:
Upcoming Permissionless listings

*This segment ends here*

Ramsy | Crypto Miners:
Thankyou so much Paris For your valuable answers and information about Ooki ❤️

It Was Pleasure Hosting An Ama With You

Paris:
No problem, thank you again for having us!

Ramsy | Crypto Miners:
We Wish all the very best for Project Ooki And The Entire team behind the project❤️🤝

Have a nice day my friend 🤝

Community, if you would like to learn more about Ooki, here are some useful links for you:

Website: https://hello.ooki.com/#
Twitter: https://twitter.com/ookitrade
Telegram: https://t.me/ookitrade
Discord: https://discord.gg/JKSzSk
Facebook: https://www.facebook.com/OokiTrade
Instagram: https://www.instagram.com/ookitrade/
YouTube: https://www.youtube.com/ookitrade
Shop: https://shop.ooki.com
Blog: https://blog.ooki.com