AMA Recap: CRYPTO MINERS X PLEDGE FINANCE

Pledge Protocol (“Pledge”) is a fully autonomous, algorithmic lending platform on the Binance Smart Chain. Pledge is a decentralized protocol which establishes lending markets with
algorithmically determined interest rates and provides its own token in exchange called pTokens
based on market forces of supply and demand. This allows users to frictionlessly exchange the
time value of money derived from collateralized digital assets and stablecoins.

We hosted an AMA session with Pledge Finance on 9th January.

Miss Uzma was the host from Crypto Miners and Le T was the guest and shared delightful knowledge and unique features of Pledge.

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Segment 1️⃣: Introduction

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Uzma:
Hello Everyone 👋
Welcome to the special AMA Session with Pledge Finance

We’re lucky to be joined by Chia as today’s guest❤️

Le T:
Hello Everyone!

Uzma:
Hello👋
Welcome here🤝

Can you please introduce yourself to our community?

Le T:
Yes, I am a Program Manager at Pledge Finance.

I am one of the few that get to go between biz dev and and product teams.

Uzma:
Nice to meet you🤝

Le T:
It’s great to be here.

Uzma:
So can we go the first question of introduction segment if you're ready 😃

Le T:
Sure.

Uzma:
Q1) Can you give a brief explanation about 'Pledge' .What popped up in your mind to create such a platform in this Space?

Le T:
We're a marketplace for crypto loans.

Specifically, Pledge Finance is a protocol on the Binance Smart Chain offering borrowing & lending at fixed-rate & fixed terms.

In traditional banking, you are subject to your credit score being assessed to be able to borrow or take out loans.

Lending is more accessible to everyone. Repayments can also be more flexible.

Uzma:
Great👌

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

Le T:
We have three main features: Lending, Borrowing and Provide Liquidity.

Obviously it puts limits to when and how you can access money. Also, not all your assets are counted for - leaving money on the table, it’s not always easy to access cash - less coin assets cannot be collateralized in traditional markets. So here are some features…

For lenders:
Loans are not repayable. So the lender's fixed return is guaranteed.

Lenders can sell the SP_TOKEN (bond token) for immediate liquidity.

For borrowers:
Borrow rate, cost of capital is fixed. Less risk for borrowing for high cost of capital.

Borrowers still have upside and downside exposure of the pledged collateral.

(Borrowers’ JP_TOKEN can claim back collateral after the loan is matured). Loans are non recourse.

Borrowers will never need to pay back the loan or be underwater.

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

Le T:
We are led by a team of Engineers & stakeholders with expertise in Technology, Security, Trading and Designers.

So there is a lot of interest in the financial community on lending / borrowing crypto right now. We are oversubscribed in the project. It’s a very good time.

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

Le T:
I’ll speak from the business side on this one. What you gain is a maturity fee of the token PRGR, and the majority of interest from the eco system award of the GSR.

The mechanics is: staking, farming, lending and borrowing.

The staking has a period of 3 mo.

You want to stake for the full scope to earn award.

Pledge is deployed on Binance smart chain and we will go on the other chains, currently it’s on BSC mainnet.

Uzma:
Moving to the last question of this segment

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

Le T:
1 Year.
It’s inception was in 2017 and there was always a feeling around our investors that there were too many pain points in retaining loans, needs for cheaper access to capital and the low rates on traditional savings accounts.

In the financial world, the best we can do is to get 1% by putting money in the Bank. Lending on Pledge, investors should be able to get at least 4%. That’s a step up and that’s what we are working hard to change for you.

ROAD MAP
V1 - Q1 is staking, farming, lending and borrowing.

V2 - Q2 Bridge swaps and swaps of PLGR

Uzma:
Thanks for this well detailed introduction about Pledge Finance :)
And that's the wrap up of our the first part of the AMA session ✅

Let's go to the second and last segment- Live QnA

Le T:
THANK YOU

Uzma:
Can we go if you're ready 😃

Le T:
sure.

Uzma:
Here we go,

Segment 2️⃣: Live QnA
(In this segment group was opened for 60 seconds and Miners sent hundreds of questions. Guest choose some best to answer)

1)Non-crypto user is very important for mainstream adoption. How you are planning to attract non-crypto users towards your project ? Is there any upcoming partnership that will brings non-crypto user and real-use case ?

Le T:
To answer this - UI Development. Our UI is so simple and easy to use that you could instruct your grandmother to use the platform and borrow and trade. Currently it’s on BSC Mainnet. Try for yourself.

2) The Covid-19 pandemic season weakened economies around the world. What did the Defi project do to motivate and educate members of the Defi community to survive in the Defi community??

Le T:
It gave DeFi more time to re-evaluate and come together has a community to try to solve some of the biggest problems in blockchain. We are still a community that cares about a green space in DeFi, making a coin that is greener. Trying to solve the Trifecta problem and pooling, strenthening security. All these problems are always in the back drop. So, it important to keep testing on a platform and contantly have touch points like this.

3) Is this your project only for elite investors, or want to know about others with any other small fund, is it open to everyone?

Le T:
Not at all just for elite. Anyone can borrow and lend. You can borrow and assess as little as 5K.

4) Can you briefly describe your PARTNERSHIP so far and upcoming partnerships?

Le T:
We are reaching out to B to B. That’s all I can say as much is under NDA.

5) Do the token holders have the right to participate in the governance of the project? What kind of, decisions can they vote on about the project

Le T:
Sure, our PLGR token is the governance token for the Pledge protocol. For instance, we have hard-wired deflationary burning mechanics into the TRX fees. In other words, 20% of the profit from the protocol will be used as buyback. Holder can use the PLGR token as collateral and do staking on Pledge. PLGR can be used as collateral to borrow stable coins such as BUSD, DAI on Pledge.

*This segment ends here*

Uzma:
Thankew for your well detailed and brief answers❤️
This is the end of this segment

Anything else, you want to share with us?

Le T:
Everyone, please be safe out there. Make 2022 a good year. Wear your masks and keep wearing your masks.

Uzma:
Totally agree🤝

Time to conclude this AMA session
Best of luck for the future 💕

If you want ro to learn more about Pledge Finance, here are some important links for you;

Website: https://www.pledger.finance/

Twitter: http://www.twitter.com/PledgerFinance

Telegram: https://t.me/pledgerfinance

Discord: https://discord.gg/NuwA7yvH24

GitHub: https://github.com/pledgefinance

Medium: Pledge Offical