BSCDaily hosts Demeter: #Protocol #LendingMarket #Demeter#BSCDaily #BSC
BSC_Daily Admin: Hello and welcome, how are you today?
Darrel: Today is an exciting day.
BSC_Daily Admin: Happy to hear! Ready to start our AMA?
Darrel: Too much good news to tell everyone, Let me tell everyone in the AMA.
Q1: Please tell us briefly about yourself and the Demeter project.
Darrel: Hi everyone, my name is Darrel and I am from the Gold Coast, Australia. I have been working in the marketing field for about 6 years, including 3 years in the cryptocurrency market.
Demeter is a decentralized lending and stablecoin protocol. Compared with MakerDao, Demeter is superior in interest rate model, mortgage asset class and mortgage factor. In addition, it also introduced a credit line mechanism. Demeter’s decentralized stable currency DUSD is expected to become the largest stable currency in the itrm network on the Heco chain. With the prosperity of the Demeter ecosystem, Demeter has now been successfully deployed on BSC, becoming the only decentralized stablecoin listed on both HECO and BSC. Projects such as MDEX, Butterswap and Booster all support DUSD mining through their products. And obtained a higher return than USDT.
Users on Demeter can choose loan mining, coin mining and LP mining. In order to obtain Demeter’s management token DMT, users can deposit/lend assets, mint stable coins or conduct liquidity mining.
Q2: Can you tell us a bit about the team and their experience with crypto projects?
Darrel: CMO Remi has two master’s degrees in business and marketing and has now worked in the marketing field for about 6 years.
The technical staff are anonymous, they are all from some public chain and defi developers.
The CEO is very powerful and will have the opportunity to let everyone know him.
Q3: Can you tell us in detail about your products and historical performance so far since launch?
Darrel: I hope you can go to our official website to browse the products, I think everyone will know it at a glance.
Since Demeter was deployed on the Heco chain in mid-September, it has been recognized by users and capital for its tokenomics and security: TVL exceeding $350 million within 72 hours leaping to the top 1 on HECO lending. And since we launched BSC on November 5th, TVL has exceeded $80 million.
In fact, TVL cannot summarize the growth of Demeter. Within one month,8 ecological projects (dex, games, vaults, etc.) have supported the use of DUSD. The current DUSD minting volume has exceeded $350 million, which is a key indicator. Judging from the current growth rate, we have obtained more trust from our users.
Q4: Can you walk us through the uniqueness of Demeter?
Darrel: Demeter is a decentralized cryptocurrency protocol. The uniqueness of Demeter is mainly reflected in the following 5 points:
<1>Demeter adopts a dual token system: the governance token DMT, and a decentralized stablecoin DUSD.
<2> Mint stablecoins at low cost: while supporting mortgage loans, Demeter allows synthesis and minting of stablecoins DUSD through over-collateralization.
<3> Demeter builds a new credit rating model (DCRM) with an optimized interest rate model as well as collateral ratios in the DeFi lending protocol to consolidate and grade all existing crypto assets for credit.
<4> Demeter used TRFM (Target Rate Feedback Mechanism) to maintain the target price of $1 DUSD.
<5> Demeter has established an over-allocation distribution mechanism where a certain percentage (0%-100%) of over-allocation revenue along with a portion of governance tokens will go to the DAO vaults, thus ensuring that the actual annual over-allocation rate is in an adjustable state.
Q5: Please tell us about the $DMT token! What are the token use cases, distribution, and how to buy/get it?
Darrel: DMT is Demeter’s governance token that is produced through mining, similar to MakerDao’s MKR token.
Demeter’s governance rights are particularly important because Demeter completely adopts DAO governance. Governance acts such as user key parameter settings and asset allocation are all determined through DMT voting.
In addition, as mentioned earlier, one of the advantages of the Demeter protocol is that it can generate a large amount of genuine revenue, and DMT holders can stake tokens to obtain the rewards. We also have a differentiated design for the lock-up period to ensure that long-term holders can benefit from it.
In addition, DMT holders can also participate in DAO Treasury distribution and DAO revenue pool distribution to obtain higher returns.
Half of DMT are issued on Heco, and the other half are issued on BSC, distribution as follows
Q6: Let’s talk about partnerships & influencers that you are collaborating with.
Darrel: The results achieved on Heco are also obvious to all. In just one month, there were 6 DeFi ecological projects cooperating with us, including (dex, chain game, machine gun pool, etc.).Since Demeter launched on BSC, it has cooperated with Crypto Blades and Babylons. More cooperation is coming soon, we need some time.
Establishing cooperation with other projects in a diversified market will help promote Demeter’s own growth, and it can also bring new players to other projects, establish more application scenarios for the stable currency DUSD to make it a real stable currency.
Q7: What is the vision for Demeter & Roadmap in next 6 months?
Darrel: 4th Quarter of 2021
1. Strengthen cooperation in the BSC ecosystem and expand the use of DUSD.
2. Deploy Heco network Version 2. (V2) to support scalable Demeter bridge and cross-chain lending.
3. Build richer credit tiers and optimize Demeter interest rate markets.
1. DUSD lands on more mainstream trading platforms and eco-networks, creating more convenient exchange venues for users.
2. Launch graded Funds & fixed revenue bonds
3. Launching the bonding agreement for non-standard assets, providing the financial market with high efficiency and liquidity for certified staking and refinancing, future cash flow bonds and convertible bonds
4. Explore smart pools, fixed interest rate and agencies, off-chain assets, on-chain lending and other businesses.
We will explore more new areas in the future, including cross-chain lending, synthetic assets and NFT assets lending, structured financial products, etc. I think this is a never-ending journey, our biggest goal is to keep exceeding ourselves!
Q8: Where can we find out more about Demeter on social media?
Darrel: I’ll share all of that with you guys.
This is our information collection
Audit Report: https://github.com/peckshield/publications/blob/master/audit_reports/PeckShield-Audit-Report-Demeter-v1.0.pdf
BSC_Daily Admin: With this, we are now at the end of our AMA session with Demeter.
Time for wrapping up, any last words you would like to say to our community?
Darrel: Cryptocurrency is an interesting market, all kinds of projects are very interesting, I hope you all come to learn about us! And If you guys have any questions, please feel free to speak to me.
BSC_Daily Admin: Thank you so much for spending time with our community & all the very best for Demeter.