AMA with Razor

On the 10th of March, 2022 at 13:00 UTC, Decentralized Club had the honor of hosting Hrishikesh, CEO from Razor Network, for an Ask-Me-Anything session on their Telegram page with a community of over 70,000 people. It was hosted by DC Admin, May.

The session was divided into three segments. Introductions were made in Segment 1, questions from the Twitter community were answered in Segment 2, and live questions from the community members in attendance were answered in Segment 3.

If you missed this event and would like to know what Razor Network is all about, you can find a recap of the interview here. Information here should be researched and should not be taken as investment or financial advice. Also note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.

Segment 1 - Introduction

[May]
Helló, สวัสดี, 大家好, नमस्ते, Selamat!

It’s your favorite host, May! Here again for another session - this time with Razor Network 🥳

Joining us today from the Razor Network is a special guest!

You're welcome to the Đecentralized Člub

[Hrishikesh]
Hey Everyone! Thanks for having me here

https://t.me/decentralized_club/751124

[May]
Haha! Thank you for being here! Cool sticker pack by the way!

How's your day going?

[Hrishikesh]
Thanks! The day is going well. I am excited for this AMA and to answer the questions from your community.

[May]
That's awesome! 🤩

I'm excited as well!

Could you please introduce yourself to our community and tell us your role at Razor?

[Hrishikesh]
I am Hrishikesh. The CEO of Razor network.
I have worked in various positions such as data scientist and product manager before discovering Bitcoin and Ethereum at the end of 2015. I found the technology fascinating and decided to work as a blockchain developer in this field in 2016. I have worked with various companies as a blockchain developer including ConsenSys. I have made open source contributions to projects such as the Ethereum and Raiden networks.
At Razor, I manage the core architecture of the oracle and manage the strategy of the project as well.

[Pankaj]
Hi, I am Pankaj, I take care of marketing efforts at the razor.network, I tweet about my learnings about WEB3 space.

Catch me on Twitter: https://twitter.com/PankajS81524644

[May]
You're welcome to the Đecentralized Člub 🥳

Great introductions from you both!

Let's get right into the session!

[Hrishikesh]
https://t.me/decentralized_club/751136

[May]
These sticker packs are giving me liiiife 🤩

[Hrishikesh]
These are designed by our community. We love them too 🙂

[May]
Cool! 🥳

Can you tell us about the Razor Network and the inspiration that got it started?

[Hrishikesh]
In early 2019, I was exploring real-world applications of blockchain. At that time DeFi was in very early stages but was slowly proving to be a promising use-case.
But as I did more research I quickly realized space was limited due to the centralized nature of the oracles used. This will always be a limiting factor of DeFi unless the oracle problem is solved.
The Oracle problem is a very well-known and notoriously difficult problem. I loved the challenging nature of the problem and started designing and analyzing different mechanisms for a fully decentralized and secure oracle.
For two years, we continued to research and develop Razor to make it the most robust, secure, and fast oracle network.

Razor Network is a blockchain agnostic decentralized oracle network with a focus on Maximum game-theoretical security, complete decentralization, and being fully permissionless. Razor achieves this while still being fast and practical for Decentralized Finance. Our dispute resolution mechanism increases the game-theoretical security and protects against multiple kinds of attacks. Our utility token is called RAZOR.

We have partnered with blockchains such as Polygon Network, SKALE, Algorand, Elrond, Conflux, Persistence, and many more.

[May]
https://t.me/decentralized_club/751147

What innovative solution is Razor bringing to topple its competitors with similar oracle offerings in the DeFi sector?

[Hrishikesh]
Razor network is designed from the ground up to provide maximum game-theoretical security without compromising speed. Apart from that, Razor is fully decentralized, permissionless, and fast.
Most of the oracles use the Schelling Coin mechanism. The mechanism is flawed and is vulnerable to various attacks. Razor uses a modified Schellingcoin algorithm with a sliding court mechanism. This includes an iterative dispute resolution mechanism which makes it robust against all kinds of game theoretical attacks.

[May]
https://t.me/decentralized_club/751152

[Hrishikesh]
https://t.me/decentralized_club/751154

Really good!

What are the utilities of your native token?

[Hrishikesh]
Our utility token is called $RAZOR.
Razor network is a proof of stake oracle, you must stake $RAZOR to be able to be a validator in the network.
$RAZOR is also required to participate in the governance mechanism.

[May]
You have a governance use case! That's great!

Where's $RAZOR trading?

[Hrishikesh]
$RAZOR is trading at various exchanges such as mesc, gate.io, uniswap, dfyn, etc. You can check the entire list at https://www.coingecko.com/en/coins/razor-network

[May]
Awesome!

How soon can we expect your mainnet launch?

[Hrishikesh]
We are targeting Q2 2022. We need the time to finish the audit and do one more phase of incentivized testnet.

[May]
On audits, can you tell us about the security of the Razor Network? Have you passed any previous audits?

[Hrishikesh]
We are in contact with leading auditors in the space to audit our smart contracts. We will get the audit completed before the mainnet release.
This will be our first audit.
Security is of utmost concern for us at Razor. We have close to 100% test coverage in our code and use industry-standard tools for static analysis, scenario-based testing, etc. We will also engage with the best auditors in the space to minimize the probability of such incidents.
RAZOR

[May]
Impressive!

[Hrishikesh]
https://t.me/decentralized_club/751170

[May]
Please give us a summary of your 2021 highlights and what major news should we look forward to from Razor in 2022?

[Hrishikesh]
We have completed the development of our first version. We are implementing bug fixes and minor UX issues. We have successfully completed our first incentivized testnet without issues.

We have developed and released our network explorer and staking portal razorscan.io
We have partnered with a large number of projects in the space and will continue to increase the number of partners in the coming months.

In Q2 this year we are planning a mainnet release. In Q4 we are targeting the second release of our mainnet with more advanced features and taking the oracle security to the next level.
RAZOR

[May]
👏🏻👏🏻👏🏻

Looking forward to hearing good news from Razor in the coming months!

Let's now take some questions from our Twitter community.

Segment 2 - Twitter Questions

[May]
Does the Razor network use any consensus algorithm?

Razor network is said to be an Oracle, what definite features make it different from all other oracles?

Twitter Username: @Christianstel18

[Hrishikesh]
Razor uses a proof of stake consensus mechanism.

Razor has the following features.

-Truly decentralized and permissionless
-Flexibility to request results in an automated and manual fashion
-Game theoretically sound and resistant to collusion, bribing, Sybil
and censorship attacks
-Blockchain agnostic with many partnerships and integrations
RAZOR

[May]
Awesome!

I saw users can become "Delegators" in Razor Network, can you tell us more about this? What role do the delegators have on the platform? How can someone become one? What are the benefits a user gets from being a delegator and how do delegators help the growth of the ecosystem?

Twitter Username: @TayfunessTurrk

[Hrishikesh]
The Razor network is a proof of stake network. Once our mainnet is launched, anyone can stake their $RAZOR to become a data validator.
Users can also delegate their $RAZOR to other stakers. A simple portal is created for users to delegate their razor at razorscan.io

Since running a node and becoming a staker is a big responsibility and requires some technical knowledge, not everyone will be interested in that. Those users can easily delegate their tokens to one of the existing stakers in the network. They can go to razorscan.io and delegate their tokens on any of the stakers based on their performance, commission, reputation, etc.

Delegators will earn block rewards from the network. They will have to pay a commission to the stakers they have delegated to. Delegators increase the economic security of the network and participate in the governance of the protocol.

RAZOR

[May]
Wow! This is great.

Can you tell us the requirements on how we efficiently run Razor Network's nodes? Will there be any permission needed to comply before we can officially run your network's nodes?

Twitter Username: @0JeanWayne

[Hrishikesh]
Razor is a permissionless network. Anyone can stake $RAZOR to become a staker. You do not need anyone's permission.
Server requirements are 4GB RAM, 4 Core (arm64 or amd64 architecture).

[May]
🥳

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?

Twitter Username: @Aisha13511292

[Hrishikesh]
Yes. You must hold $RAZOR to participate in the governance. You can vote on various parameters of the oracle such as a minimum stake, withdrawal delay, block rewards, etc.
RAZOR

[May]
👏🏻👏🏻👏🏻

[Hrishikesh]
https://t.me/decentralized_club/751186

[May]
I understand that Razor_network will require multitudes of Data Providers and validators to become a leading Oracle network. How do you intend to achieve this? How would you ensure that genuine data is maintained on Razor_network? Who would be your major Customer?

Twitter Username: @TayfunessTurrk

[Hrishikesh]
We use publicly available data to ensure maximum data availability and verifiability. Our truth by consensus algorithm along with the dispute resolution mechanism ensures maximum game-theoretical security and accuracy of the reported data. There are penalties for stakers if they are providing inconsistent data. This ensures the data is as close to the true data as possible.

Our target market is mainly defi space. We are also targeting any industry which requires on-chain data such as metaverse, NFT space, etc.

RAZOR

[May]
Great answers!

Let's take this session further with questions from our live audience.

[Hrishikesh]
Yes, let's do it!

https://t.me/decentralized_club/751191

[May]
In this 3rd segment, I will open the group for some seconds for the live community to shoot you some pressing questions.

Please pick five original questions to answer.

Try to ignore generic, vague, and copy-paste questions 😊

Everyone, please prepare your questions

What’s your favorite car manufacturer?

[Hrishikesh]
Lamborghini of course

[May]
Ayyyeee! Lambo gangggg. 🤩

Dear community, as a measure to deter bots and reward hunters, please include the phrase below in your questions so the guest can tell original questions apart!

May is the best host ever and our guest loves Lamborghinis!

Dear guest, please prioritize such questions 🙂

The group will be unmuted shortly

---Chat was then opened for the live community to send in their questions---

Segment 3 - Live Questions

[May]
Wow! So many questions 🤣

Group now muted. 🤩

Dear guest, please begin to answer.

Dear guest, as a measure to deter bots and reward hunters, the phrase below has been included in questions so you can tell original ones apart!

May is the best host ever and our guest loves Lamborghinis!

Please prioritize such questions 🙂

[KaptinBlack]
Hey there Mr. Hrishikesh 👋 (May is the best host ever and our guest loves Lamborghinis!)

You said something earlier,
"Razor network is designed from the ground up to provide maximum game-theoretical security without compromising speed"

As the CEO can you tell us how this is going to be feasible?

I don't see this listed in steps on your website,
How exactly do you intend to achieve this?

Please tell 🤔

[Hrishikesh]
Razor network uses a novel sliding court mechanism where any result of the oracle can be disputed iteratively. This can thwart any attack that can happen on the oracle. This mechanism makes it impossible to attack the oracle profitably.

[Samuel Kenny]
May is the best host ever and our guest loves Lamborghini

Can you explain to us how we can earn $RAZOR? You mentioned in your telegram that there are five editions of earning $RAZOR on Polygon. Can you elaborate this more to us?

Also, how secure is the RAZOR network? How is it better than other centralized/Decentralized oracles?

[Hrishikesh]
You can provide $RAZOR-$DFYN or $RAZOR-$WETH liquidity on dfyn to earn $RAZOR rewards. Please check this article for more details

https://medium.com/razor-network/razor-networks-razor-farms-on-dfyn-enters-fifth-edition-bcd81e39b6e3?source=rss----599c96a1e4c5---4

[May]
Keep the answers coming! 🤩

[Nimsa]
What chain is $RAZOR on? Should we expect omnichain integration in the future?

May is the best host ever and our guest loves Lamborghinis!

[Hrishikesh]
$RAZOR is currently on Ethereum and polygon. We have many more partnerships and will be integrating with them in the future. Some of our partners include Skale, Algorand, Elrond, persistence, etc. Razor is a chain agnostic oracle and will be available in many chains through integration.

[Queen]
May is the best host ever and our guest loves Lamborghini
Is it easy for me to delegate my tokens without any guide and please how can delegators earn block rewards from the network???

[Hrishikesh]
You can follow this delegation guide https://docs.razor.network/delegation/delegate/

[Decentralized Enthusiast]
Users and ambassadors alike play a very important role in the governance of any project. Is there an ambassador role at razor for users to join in?

May is the best host ever and our guest loves Lamborghini

[Pankaj]
Yes, we are running an ambassador program for almost two years now, we open up the entries from time to time, stay updated on our socials to apply next time we open the application forms

https://twitter.com/razor_network/status/1442483278628339717?s=20&t=r-oqlKH_Jrn3LdTHGm9TDQ

[May]
One more question 🥳

Can you please take one more? 🥳

[Lovely DC]
I read in your documentation that Razor Network offers “2 types of queries” (Auto Mode Queries and Manual Mode Queries). Can you explain about these two Queries? What are the use cases for both? And How do you ensure that the automated query is error-free?

May is the best host ever and our guest loves Lamborghinis!

[Hrishikesh]
Auto mode query is like a datafeed (ETH/USD) which is updated in every epoch continuously and automatically.
Manual mode is a question like "Who won the Oscars in 2022?"

Auto mode queries will be used in defi and manual mode is used in prediction markets.

[May]
Aaaaannd it's a wrap! 🥳

It has been an enlightening session!

Any closing remarks for our community?

[Pankaj]
https://t.me/decentralized_club/751355

Razor Partnerships
https://t.me/decentralized_club/751356

Knit Finance
MOAR Finance
Plutos Network
Litentry
VortexDeFi
CellFrame
Injective Protocol
Ambee
MobiFi
SpiderDao
Web3API
Paid Network
Elrond
Algorand
Moonbeam
Meter
Dafi
Sentinel Network
OpenDeFi
Conflux
Mantra Dao
XinFin’s XDC
Persistence
Skale
Matic Network

Follow our blog to stay updated: https://medium.com/razor-network

[May]
An impressive list! 👏🏻👏🏻👏🏻

[Hrishikesh]
Thanks a lot for having us here. It was a lot of fun!

https://t.me/decentralized_club/751359

[May]
Thank you so much for your time!

[Hrishikesh]
Thanks. Please keep in touch!

Telegram Community - https://t.me/razornetwork
Telegram Announcement Channel - https://t.me/razor_announcement
Our twitter: https://twitter.com/razor_network
Website: https://razor.network

[May]
We're sending our best wishes to the rest of the Razor Team! Thank you all for your good work in pushing this project to the top!

We will!

Thank you dear guests for your time in giving us great answers!

[Pankaj]
https://t.me/decentralized_club/751365

[May]
We do wish you all the best for the future!

https://t.me/decentralized_club/751369

Until next time, do have a splendid day!

[Pankaj]
Thank you for having us!

https://t.me/decentralized_club/751371

[May]
The pleasure is ours

The guests might be going now, but these stickers will stay with us here for a very long time 🥳

The AMA with the very impressive Razor Network project is now over.