Everscale AMA – Ask us anything about DeFi and what worries you about its current state

Hello, Sergey Shashev here, Founder of Everscale’s core development team Broxus and Everscale DeFi alliance. With me is Sergey Dzhurinskiy, Everscale DeFi Alliance co-founder and Warp Capital Managing Director.

We’re here to chat about Decentralized Finance (DeFi), its most prevalent issues, and why it can be a significant step forward for the crypto industry. Today we’re going to address the age-old question, whether or not DeFi is dead. There are various vocal communities claiming that the sector has no future and that it is soon to meet its own demise, but is there any merit to this statement? Stick around and we’ll have a constructive discussion revolving around these claims.

Thank you to the r/cryptocurrency community for having us here. We're excited to chat with you all as we discuss the current state of the industry and exchange valuable insights regarding the future of DeFi.

AMA Format

The AMA is held today on November 9th 2022. The session will go on for 3 hours, starting from 14:00 until 17:00 UTC. Please submit your questions and we’ll do our best to answer as many as possible.

We’re also giving away 300 USD in EVER to your top questions. Authors of the top 3 questions will receive 50 USD in EVER and an additional 5 questions will each be rewarded 30 USD in EVER, so make sure you give it your best shot.

A brief intro on Broxus

Broxus is the key development team behind Everscale, providing numerous projects that serve all your financial needs. Our Motto is “Crypto is Easy”: we’ve been developing DeFi solutions with intuitive usage. Among them are Everscale’s largest cross-chain offering Octus Bridge, its very own EVER Wallet, and DEX & farming hub FlatQube.

What is Everscale?

Everscale is the 5th gen blockchain capable of handling 64,000 transactions per second with a theoretical limit of 1M TPS while offering high scalability, low commissions, & security for all projects. The blockchain was created approximately 2 years ago and saw good community support. Everscale now has over 60 projects developed on its basis, with the potential to withstand hundreds of thousands of dApps without the network being overloaded.

Why are we even talking about DeFi?

Because the DeFi sector is seeing a significant drop in TVL, will it recover? Due to the unregulated nature of DeFi, are we looking at a magnet for money laundering and illegal activity? How have DeFi protocols addressed the problem of sustainable liquidity? Does the market need regulation? If so, how could regulation look like for a free financial market? Could regulation hinder the sector’s development? Or will this result in a better DeFi than the one we have right now? How can the sphere break into the mainstream? Are DAOs to blame for projects not having a clear direction?

These are all questions that should be addressed in order to ensure the industry’s long-term development.

What can you do with the EVER you win during this AMA?

You can stake on EVER Pools, farm on FlatQube, transfer tokens across multiple networks using Octus Bridge, trade NFTs, and more.

Accounts you should expect to hear from here:

  • u/Broxus_Team
  • u/everscale_team

Follow our socials!

We’re always conducting events & publishing educational and entertaining content on our social media:

  • Everscale – Telegram
  • Everscale – Twitter
  • r/Everscale

Additionally, stay up to date with our Broxus socials where we regularly publish more expert insights:

  • Broxus – Telegram
  • Broxus – Twitter

Important Disclaimer

Any information posted by Broxus on r/Cryptocurrency, including but not limited to posts & comments provided by Broxus, shall not be considered as financial advice or promise.

That being said, let’s get this session started.

AMA!

Everscale AMA - Ask us anything about DeFi and what worries you about its current state

50 thoughts on “Everscale AMA – Ask us anything about DeFi and what worries you about its current state”

  1. Pin the daily again, it’s awesome during a crash. I don’t even know Everscale

  2. Everscale is the future of technology. We are waiting for a new round of development with the advent of file storage and the launch of a decentralized exchange. Everything gonna be alright!

  3. Is Everscale still a community driven blockchain? Do we need to attract new hard working people? How can I contribute to the ecosystem if I’m for example not a technical person?) But I want to help, don’t just wait for the sunrise ). Is it possible to use LEVER tokens for the community members’ contribution with real value for the network? Let’s organize this 😉

  4. I have a question: The biggest DeFi needs are that of interoperability, providing cross chain interactions and multiple blockchains, how does yield achieve this?

  5. Could you share some results of Onchain Composability Bounty led by Broxus during Elysium Hackhaton? Will you organize some other bounties or such activities in other events?

  6. Many DeFi platforms have created operational mechanisms that guarantee their economic stability in the face of cryptocurrency volatility. However, these mechanisms often seem insufficient. How does Everscale plan to protect the ecosystem against constant fluctuations?

  7. Any extra measures have been taken into Everscale bridge following such big hacks happening recently in the ecosystem?

  8. I’m worried about on and off ramp cuts , centralized exchanges it’s pretty cheap but as far as i know for defi it’s more expensive, can this problem fixed?

  9. Hi sir, What prospects do you see in Everscale and in the projects of this ecosystem?
    What are the advantages of your blockchain from other blockchains: for example, from solana?

  10. QUESTION: Liquidity mining has sparked a growth in the DeFi market, but increased gas fees and network congestion limit users from taking advantage of DeFi’s full potential. What is the most pressing issue that needs to be addressed? How does #EverScale plan to provide a long-term remedy? Thanks!

  11. The biggest DeFi needs are that of interoperability, providing cross chain interactions and multiple blockchains, how does yield achieve this? Do users need KYC to enjoy all the awesome features of yield ?

  12. What breakthrough new products are you ready to provide to the crypto community in the near future? Thanks.

  13. As an ecosystem, will Everscale organize more hackhatons or developer events in local aspects?

  14. So “defi” is unequivocally a scam and just moves shit tokens from one place to another. I guess my question is, how do you reconcile that with trying to be good and honest human beings? 2nd q, I would love to know if you sleep well at night and if so, how?

  15. Is whatever your “project” is just another scam throwing around the usual buzzwords to try and dump worthless “crypto” on people hoping to make a quick buck so you can stack that sweet, sweet fiat?

  16. How can defi protocols work with regulators in order to create a more streamlined taxation process for users?

  17. What are the risks associated with staking PoS tokens on a centralized exchange?

  18. DeFi’s reputation has been tarnished, causing the slow adoption of the sector. How can that be changed?

  19. well seems like defi collects all the problems of traditional finance. for example dao.

    democracy works well when 1 person =1vote. However in a dao votes are calculated through tokens, meaning that people’s votes can be disproportionate since people holding on to a much higher number of tokens have a considerably louder voice. how can you guarantee a truly democratic environment for dao participants ?

  20. While I see the advantages of defi and also have found some very promising projects, I also basically have seen these defi projects over and over again have their tokens continually halfed in price. Despite remaining invested in a number of defi projects, I’m having difficulty seeing how this will all succeed in the long run…? How do we have billions of dollars in so many different places and on so many different chains? How can we have one project after another start and then lose almost all of their value via the tokens falling down a cliff after barely any success early on? Defi sounds and seems great, and there is tons of innovation, hence my personal investments in the space space, but how can something that is currently failing so much and constantly losing value (across so many different chains and players) end up pulling it out in the end.

    Please keep in mind that almost every token and project that I reference above (as losing money) isn’t just a token, rather they are all projects with utilities and innovation, yet they still in mass can’t maintain value and answer how it works in long run.

    I realize the question(s) were a bit all over the place here, but please answer however you can since you would finally be someone from the dev/project side answering this (as opposed to just making money off others investments and not answering whether this can really work in the long run given what we are seeing and experiencing now).

    Thank you.

    Edited – grammar spelling

  21. Defi is adding 0 real world value, thats why soon as markets have dropped projects have mainly all crumbled. They were all a ponzi

  22. What makes your defi scam better than the other defi scams? Should I try to get my grandma to invest her retirement savings?

  23. We just saw a takeover of a major CeX , do you think this the opportunity for DeFi to make a mark and show it’s potential? If yes , then how.

  24. Can the user see everything the exchange can see? If not how can we trust that you aren’t trading against your users?

  25. Are you suprised that DeFi has held up so well as CeFi has melted all around us this bear market? Do you think this goes against what most people expected?

  26. EVER is a fork from the TON network, right?
    What are the differences between the current TON and EVER?

    Also, is EVER Russian based? Or has many Devs from Russia? If yes, how do you deal with the war?

  27. https://www.reddit.com/r/CryptoCurrency/comments/yq2tow/daily_general_discussion_november_9_2022_gmt0/

  28. Can you just tell us when your blockchain is planning to get “hacked” so people can plan their exits accordingly?

  29. Can you explain how DeFi creates value aside from “people are putting money in the box and it grows”?

  30. Am I one of Jerry’s kids for continuously putting money into something I have absolutely no clue about or what I’m doing, mind you I read hours ever night trying to figure it out. Seems like the future to me. For the record I keep buying BTC

    1. Create chain during bear market
      2 )Make profit during Bull market and sell coins
    2. Abandon chain
    3. See step 1

    I am onto you crypto devs.

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