BSCDaily hosts Depth: #Defi #Depth #BSCDaily #BSC
BSC_Daily Admin: Hello and welcome, how are you today?
0xEric: Nice day for us and for Crypto world, hope you still remember DeFi when NFT/Metaverse pumping LOL~
BSC_Daily Admin: Happy to hear! Ready to start our AMA?
Q1: Please tell us briefly about yourself and the Depth project, as well as the current environment and stage of the project.
0xEric: OK, my name is Eric. I have 8 years of working experience in the communication and Internet industry, and in 2018 I started my career in the crypto field.
Depth was launched in Feb 2021
It is a secure and efficient stable assets management protocol based on HECO. Depth has been running smoothly for nearly 9 months.
We came to BSC by the end of Sep,2021, which is a great step for us and our users.
To our surprise, also many good projects come to us willingly for partnership.
This is very gratifying to us, and it proves that our operations on HECO have been unanimously recognized in the industry.
This also makes us more confident to serve more users on BSC.
Q2: Can you tell us in detail about your products and historical performance so far since launch?
0xEric: Here are basically what you can do on Depth:
1. Depth Stablecoin Swap-Low Fees, Low Slippage
Look at this: If you swap 1000 BUSD to USDT, you can get 999.87USDT, nearly lossless experience.
And by establishing partnership with other projects like iswap, we can support BUSD/USDT on BSC to bridge to HECO in a very low fees & Slippage.
That means you will get big a
2. Depth Pools For Miners
Depth supports the liquidity mining of BDEP/BNB on PancakeSwap through which users can earn BDEP rewards by staking BDEP/BNB LP Token in the LP Farms.
After nearly a month of operation, Depth keeps a leading APR in the stablecoin depositing field on both BSC and HECO.
As you can see the APR for stablecoin swap pool more than 29% now. And the APR for BDEP-BNB is amazing 102%.
3. Vaults for Stablecoins and BNB
Users can earn competitive BDEP rewards just by staking single stablecoin or BNB to the vault pools.
Now we have connected with top leading protocols on BSC including Venus, Alpaca.
The BNB APR is around 17% and stablecoin APR is more than 27% now, which is still delicious in the whole market.
We are actively deploying DAO on BSC, and we will meet with you soon. The most important thing for DAO is governance and voting. By staking DEP to Depth DAO, users can get xDEP in a 1:1 ration, which can be used to vote.
In the near future, xDEP staking rewards will be available, by Staking xDEP in DAO Pool, users can win DEP token rewards.
5. Decentralized OTC and DEX
These two are also projects that we successfully launched on HECO, which can provide services for many customers with exchange needs.
We also plan to bring this feature to BSC and share its convenience with BSC users.
Q3: How has the response from the market been so far since launch on HECO and BSC? (turnover, user base, etc)
0xEric: Since launch on HECO, the highest TVL of Depth reached 800 Million USD, for BSC it was 150M USD. As we showed, the Depth APR has been leading the market on both BSC and HECO ecosystems. Now, Depth’s TVL is around $19 million and around 6million USD from BSC. As for users, we have some really good community members.
Why the community loves Depth token staking program?
Because Depth DAO has distributed over 5.4 million USD rewards to DEP holders on HECO in the past and will rewards the holders with DEP tokens in the future.
It has been almost 9 months since the launch time, and we have communicated with community members daily about the obstacles we encountered, achievements we made, and plans for future products and services.
Q4: What does your average user/investor look like? How do you attract users?
0xEric: There are mainly two types of people who use & care about Depth: product users and community members
Users hope to swap stablecoins with low slippage and hope to earn high yield and rewards by depositing stablecoins or BNB. And community members choose to hold the DEP/BDEP token to governance the protocol.
Thanks to the media like BSCdaily, people are paying attention to us.
Many BSC platforms have also made an objective evaluation of us. The following diagrams can truly reflect the value of Depth.
They are really helpful.
Q5: Could you give us some info on the Depth Token?
0xEric: The Depth token (also called DEP on HECO and BDEP on BSC) is the governance token of the Depth protocol, with a total amount of about 10 billion, to be issued in more than 10 years. DEP and BDEP were released through Depth’s liquidity mining started on March 1st, 2021 and Sep 29th, 2021.
For BDEP token on BSC, the maximum supply will be 4 billion.
And the BSC BDEP Token Contract is: 0x16f99577b259B069a2d1D166e70d349b11b1D325, you can get all info you want on BSC Scan.
Here is the BDEP Distribution Plan.
And since lauch on BSC, Depth is keeping Burning, Burning and Burning BDEP token.
As of now, Depth have burnt 58M BDEP tokens, which means more than 54.05% BDEP token minted are permanently gone.
And you may find more details about DEP tokens here：
Q6: Let’s talk about partnerships & influencers that you are collaborating with.
0xEric: Sure, from the very beginning on BSC, we have actively collaborated with outstanding wallets on BSC, such as Coin98, Huobi Wallets, TokenPocket, HyperPay, etc.
The Depth stablecoin swap pool is connecting with Channels on BSC and Filda protocol on HECO, which improves the utilization rate.
The Depth Vault has been working with the top tier lending/yield farming aggregators for a long time, like Venus/ Alpaca on BSC, and Channels, Filda, LendHub, Pilot on HECO.
We will have partnerships with NFT projects like Celestial to explore our boundary and touch more users. That what we have for now, still a lot work to do.
Q7: What is the vision for Depth? What are the team’s main plans for the second half of 2021 and next year?
0xEric: Depth hopes to build its ecosystem and community more convenient for users. We really want to fulfill all kinds of users’ needs to increase transaction efficiency and reduce unnecessary costs.
In addition to continuously optimizing existing products, we will also use our experience to gradually deploy more products that users like to BSC, such as Decentralized OTC, DEX, and DAO Voting. Of course, we will continue to find opportunities to work with more partners on BSC.
Also, Depth team has completed the cross-chain solutions to BSC now, that’s a quite meaningful step for us and our community members. You might see Depth operating on other public chains besides HECO and BSC in the future.
Q8: Where can we find out more about Depth on social media?
Official Website: https://depth.fi
Youtube/Video tutorial: https://bit.ly/3ucmp09
BSC_Daily Admin: With this, we are now at the end of our AMA session with Depth.
Time for wrapping up, any last words you would like to say to our community?
0xEric: Thanks for stay with us and Depth. And how about try Depth.fi Now? And special thanks to BSCdaily team, we love this community.
BSC_Daily Admin: Thank you so much for spending time with our community & all the very best for Depth.