AMA with Nolus
> Miss Futuristi:
Hello there Decentralised Club. It’s your fantastic Futuristi and I will be your host for today for yet another. awesome AMA. session
> Miss Futuristi:
Today’s guest is @Kamen_Trendafilov from Nolus Protocol
> Kamen Trendafilov:
Delighted to be here, thanks you for the invite
> Miss Futuristi:
Hey there Kamen!
> Miss Futuristi:
How is your day going?
And you are most welcome to our community!
> Kamen Trendafilov:
It has been a long ride on my side but good things were accomplished, so happy. Hope the same on your side
> Miss Futuristi:
Yeah it will be
Let’s commence the event!
> Miss Futuristi:
First of all kindly introduce yourself to our community.
> Kamen Trendafilov:
Sure, my name is Kamen, I am the founder of Nolus. I come from web2 financial world and in the past 3 years I have been devolved entirely to the DeFi space
> Kamen Trendafilov:
Nolus is a layer 1 app-specific chain built using the Cosmos SDK that addresses some of the major inefficiencies in crypto money markets (оvercollateralized lending, high risk of liquidations, and asset ownership) with a non-custodial cross-chain money market.
> Kamen Trendafilov:
Nolus defines a money market between lenders looking to earn yield on deposited stablecoins and borrowers looking to amplify holdings with more assets than their current equity.
> Kamen Trendafilov:
This is us
> Miss Futuristi:
That’s good to hear
> Miss Futuristi:
Interesting!
> Miss Futuristi:
Let me quickly explain the flow of today’s events with you…
> Miss Futuristi:
Segment 1️⃣: Introduction Questions with Project team
Segment 2️⃣: 5 best Question from Twitter Gets Answered
Segment 3️⃣: Live Telegram Questions ,Best 5 Telegram questions get answered.
Kindly type”✅” after you are done answering so we can move ahead.
> Kamen Trendafilov:
Sure
> Miss Futuristi:
Segment 1 begins….
> Miss Futuristi:
Can you start us off with the introduction to Nolus Protocol and its ecosystem?
> Kamen Trendafilov:
Nolus is a semi-permissioned blockchain bridging lenders and borrowers in a DeFi money market. With its DeFi Lease, borrowers can secure up to 150% financing on their initial investments, and access to the underlying leveraged assets through whitelisted strategies.
> Kamen Trendafilov:
Nolus is live since June 2023 and more than $50m transactions have been processed with a total current TVL of $5m from 10k users.
> Kamen Trendafilov:
We are inspired by traditional leasing, where one pays a fraction upfront and gains ownership after repayment, Nolus’ approach cuts down the DeFi sector’s high over-collateralization standards. This boosts capital efficiency and offers borrowers better loan terms. ✅
> Miss Futuristi:
TVL of $5m from mere 10k users is a great figure to start with!
> Miss Futuristi:
Okay!
Let’s know more about Nolus🔥
> Miss Futuristi:
Why should people choose Nolus Protocol over others?
what competetive advantages does it offer?
> Kamen Trendafilov:
Nolus offers borrowers new way to interact with lending: Borrowers lock up a down payment (in any fiat, stable or digital asset), gets 150% above the provided down payment as a loan in stables and both are used to purchase the desired digital asset. This is 3x compared to other cryptо lenders. The down payment together with the loan are locked into a DeFi Lease position and act as collateral, thus reducing the margin call risk by 40% compared to other blockchain lenders.
> Kamen Trendafilov:
During the amplified position with lower risk, the borrowers can utilize the assets within their active lease position in yield strategies whitelisted by the Protocol, basically creating self-repaying loans.
> Kamen Trendafilov:
Crypto Lenders (both DeFi and CeFi) provide financing up to 50% to 60% of any deposited collateral while full liquidation will happen at less than 40% drop of the price. Futures and perpetual contracts provide the ability to purchase above 50% of the collateral threshold, however users do not receive ownership of the assets and are exposed to extreme risks of liquidation and high costs.
> Kamen Trendafilov:
So what we do is
> Kamen Trendafilov:
Nolus provides 3x the exposure, at 40% lower margin call risk, fixed-never changing interest rate, ownership of the underlying asset and simple user experience. Even more, Nolus does not liquidate in full rather provides partial liquidations in order to provide more time for the user to recover his position.✅
> Miss Futuristi:
Very cool
> Miss Futuristi:
Now let’s talk about a bit more on the technical aspects
> Miss Futuristi:
What are the usecases of $NLS in your ecosystem, Discuss about your major partners and backers ?
> Kamen Trendafilov:
The token NLS plays a vital role within the ecosystem. As a layer 1, NLS is used for gas, but also staked NLS will eventually incentivize borrowers for lower interest and lenders for higher interest.
> Kamen Trendafilov:
We have been building the protocol with a team of 15 for two years and launched it in June 2023. Nolus has raised $2.5m in pre-seed and seed round with partners being Autonomy Capital, Token Metrics Ventures, Cogitent Ventures, Dorahacks, BlockBuilders, Everstake. We are audited by Halborn and Oak Security proving robust code base. We are about to close another $3.5m Series A as well soon.
> Kamen Trendafilov:
Since launch we had listed 25 supported assets. the Nolus app is 7 different languages and can be connected from Ledger/Keplr/Leap wallets ✅
> Miss Futuristi:
Thanks alot Kamen
For the information!
> Miss Futuristi:
Now let’s know about the team itself
> Miss Futuristi:
Discuss about the team behind Nolus Protocol and their background.
> Kamen Trendafilov:
We are mostly coming from traditional lending and banking. Our CTO has been building blockchain technology for a century and has a team of 10 to support all developments ✅
> Miss Futuristi:
Perfect!
> Miss Futuristi:
Now let’s discuss on the last question; interesting one😁
> Miss Futuristi:
How could Nolus Protocol impact positively to the crypto space?
> Kamen Trendafilov:
Nolus wants to be the one stop shop for your crypto transaction, as well as change how inefficient lending is done by becoming a cross chain leveraged margin trading protocol with lower margin call risk and actual ownership of the asset (thus creating opportunities for many yield optimization schemes during the DeFi Lease)
> Kamen Trendafilov:
We are also non-custodial thus security is extremely important
> Kamen Trendafilov:
Nolus provides Web3 financial suite that allows users to manage all digital assets and purchase, sell, swap, or stake their crypto
> Kamen Trendafilov:
With our easy UI, we aim to include more people into the space ✅
> Miss Futuristi:
That’s great
> Miss Futuristi:
Keep up the good work!
> Miss Futuristi:
Let’s move on to our next segment!
The Twitter segment
> Kamen Trendafilov:
let us do it
> Miss Futuristi:
Can you elaborate more on the money market feature which involves depositing and borrowing of tokens?In what form are tokens borrowed?what criteria must users meet before they can be eligible to borrow loans and how do you ensure that borrowed loans are repaid back in due time?
> Kamen Trendafilov:
as starters, the money market is both sides – borrowers and lenders. borrowers we discussed: take financing at better terms. Lenders earn on their stablecoins
> Kamen Trendafilov:
Tokens are borrowed at real assets – so ownership is with the user
> Kamen Trendafilov:
There is no criteria – this is DeFi. You connect walle, provide a downpayment, and you are eligible to take a loan✅
> Miss Futuristi:
Perfection!
> Miss Futuristi:
Next one is..
> Miss Futuristi:
The cash-basis model used by Nolus aims to ensure timely distribution of interest payments to lenders. How does this model enhance transparency and accountability within the lending ecosystem, and what mechanisms are in place to facilitate interest collection and distribution?
> Kamen Trendafilov:
Lenders are incentivized to be on the platform as they can earn rewards in stablecoins from the borrowers’ repayments in cash (rather than accrual). As lenders are capped and new deposits stopped when optimal funds utilization is breached, LPs will receive real yields from borrowers. We currently have more than 13% APY for LPs done sustainably. Borrowers need to repay interest every 15 days, if not part of the collateral covers that and LPs are paid out in full. This is how we guarantee proper collection ✅
> Miss Futuristi:
Got it!
> Miss Futuristi:
Non-crypto user is very important for mainstream adoption. How you are planning to attract non-crypto users to your #NolusProtocol project? Is there any upcoming partnership that will bring non-crypto users and real-usereal-use cases?
> Kamen Trendafilov:
yes, we are aiming at two things: a well know financial product to all and easy UI and onboarding. This is where our app design kicks in and adoption will grow due to usability ✅
> Miss Futuristi:
Awesome!
> Kamen Trendafilov:
this is the same, can you please shoot the next one :)
> Miss Futuristi:
Yup yup
> Miss Futuristi:
Can you provide more insight into how the Nolus DeFi Lease model applies traditional leasing concepts to the Defi space? How does this innovative approach address the inefficiencies present in conventional crypto lending and borrowing?
> Kamen Trendafilov:
Sure
> Kamen Trendafilov:
you can summarize it like that – with the DeFi lease you get 3x more exposure, 40% lower risk of liquidations, never changing interest rate, exposure to many native asset, options to yield on amplified position, partial liquidation ✅
> Miss Futuristi:
Okay it’s time for the 5th one
> Miss Futuristi:
And last one too
> Miss Futuristi:
Could you explain us about Nolus the achievements you’ve made as of now, and also your. objectives for the next year? What are your plans for growth and what are your main goal elements right now? Do you have a certain key advantages which you can use to attract users?
> Kamen Trendafilov:
We have grown with more than $40m transactional volume: here is a good view of accomplishments: https://app.nolus.io/stats
> Kamen Trendafilov:
Also, we just launch our new website, check it out: https://nolus.io/
> Kamen Trendafilov:
Our main goals are to increase asset base, integrate with other DEXs, expand to EVM chains, launch a swap functionality in the app, create the option for short rather than long only. All of these are happening next 12 months ✅
> Miss Futuristi:
Perfectly done
> Miss Futuristi:
Now it’s time for the most interesting part
> Miss Futuristi:
The Live segment
Are you ready @Kamen_Trendafilov
> Miss Futuristi:
Here is a summary of all links from. Nolus Protocol
https://nolus.io/
https://github.com/nolus-protocol
https://discord.com/invite/nolus-protocol
https://twitter.com/NolusProtocol
https://hub.nolus.io/en_US/technical-documentation
> Kamen Trendafilov:
sure
> Miss Futuristi:
Muted ✅
> Miss Futuristi:
Well that’s a lot of questions
It’s it @Kamen_Trendafilov 😁😁
> Miss Futuristi:
Now you can choose the best 5 of them and answer them!
> Kamen Trendafilov:
sure
> Kamen Trendafilov:
let me see
> Miss Futuristi:
LFG 🚀
> Kamen Trendafilov:
it is extremely suitable for new crypto users, this is part of our core model. Professionals can also take advantage, of course
> Kamen Trendafilov:
yes, audited by Halborn and Oak Security with very high quality
> Miss Futuristi:
3 more to go
> Kamen Trendafilov:
tokenomics can be found in here: https://nolus.io/Nolus-Whitepaper.pdf# The model is like that: there are unique revenue streams of the protocol (swap, tx cost and margin cost) that will automatically buyback NLS and refill the incentive pool and distributing additional rewards to Lenders, thus incentivizing long-term adoption and growth
> Miss Futuristi:
2 more
> Miss Futuristi:
🚀🚀
> Kamen Trendafilov:
partial liquidations return you to a healthier level and allow you to stay longer in the game
> Miss Futuristi:
1 more
> Miss Futuristi:
🚀
> Kamen Trendafilov:
yes, NLS is a governance token and can earn lucrative rewards
> Miss Futuristi:
That’s done I guess
> Miss Futuristi:
That’s all for today and with this, we come to an end of this awesome session.
Thanks a ton for such a proficient session.
Some concluding lines you wanna convey to our community
> Kamen Trendafilov:
thank you for having me
> Miss Futuristi:
Thanks again for that awesome AMA session, the well detailed answers🔥.
It’s your fantastic Futuristi signing off.
Peace out🙌
> Kamen Trendafilov:
Best!
> Miss Futuristi:
We are delighted to have you here for the Event;
> Miss Futuristi:
Unmutimg chats
> Miss Futuristi:
AMA concluded