AMA RECAP : CRYPTO MALLU CLUB x ASGARD

Venue : @CryptoMalluClub

Date : 20th December 2021

Time : 4PM UTC

GUEST : Kevin | ASGARD

SEGMENT 1 : INTRODUCTION SEGMENT

CHISTINA | CRYPTO MALLU CLUB

Q1. Please introduce yourself and the team behind Asgard Dao.

KEVIN | ASGARD

I am the founder of Asgard Dao , We are a community project built by a team of engineers, researchers, and marketing professionals who have participated in Olympus and other OHM forks. By combining the best traits of these DAOs and our team’s past experience, we aim higher and plan to build something even bigger.

CHISTINA | CRYPTO MALLU CLUB

Q2. What is Asgard Dao and what are you trying to accomplish with your project?

KEVIN | ASGARD

Asgard’s aim is to offer a new class asset token that can be a part of any portfolio. It can be used to hedge risky assets while offering safer and better incentives than stable coins.

CHISTINA | CRYPTO MALLU CLUB

Q3. Can you briefly list the features that you offer on Asgard Dao?

KEVIN | ASGARD

It is a decentralized treasury-backed currency on BSC that maintains a value of at least 1$ USD. However, Asgard is not pegged to anything and therefore can have a value worth more than 1$ USD providing its holders with a potential for great upside.

We are in the early phase of the project and put its early adopters in a unique position, where they can capitalize on their contribution to incentivizing the currency.

We have currently staking and bonding ..

CHISTINA | CRYPTO MALLU CLUB

Q4. Why is Asgard Dao safer than stable coins?

KEVIN | ASGARD

First of all, Asgard is not a stable coin. Rather, Asgard aspires to become an algorithmic reserve currency backed by other decentralized assets. Similar to the idea of the gold standard, Asgard provides free-floating value its users can always fall back on, simply because of the fractional treasury reserves Asgard draws its intrinsic value form.

Furthermore, Each Asgard is backed by 1 USDT, not pegged to it. Because the treasury backs every Asgard with at least 1 USDT, the protocol would buy back and burn Asgard when it trades below 1 USDT. This has the effect of pushing Asgard price back up to 1 USDT. Asgard could always trade above 1 USDT because there is no upper limit imposed by the protocol. Think pegged == 1, while backed >= 1………

You might say that the Asgard floor price or intrinsic value is 1 USDT. We believe that the actual price will always be 1 USDT + premium, but in the end that is up to the market to decide.

CHISTINA | CRYPTO MALLU CLUB

Q5. How can users hedge risks using Asgard Dao? Can you please give an example?

KEVIN | ASGARD

Let’s break down the basics to understand more in detail ..

Each Asgard token is backed by 1 BUSD (i.e. USDT, DAI, BUSD, USDC) in the treasury. We will initially start with BUSD as our treasury asset. After launch, we will be adding other stable coins to balance our treasury. This will include BUSD, USDC etc…

Tokens cannot be minted or burned by anyone except the protocol. The protocol only mints or burns in response to price. Asgard does not rebase. Instead, a new supply is created via direct sales into the market and burned via direct purchases from the market. This way, Asgard remains backed by real assets in the treasury, i.e., BUSD…..

When Asgard trades below ↓ 1 USDT, the protocol buys it back and burns Asgard..

When Asgard trades above ↑ 1 USDT, the protocol mints and sells new Asgard.
This is because the treasury must hold 1 USDT and only 1 USDT for each Asgard every time it is bought or sold so it makes a profit. That means the protocol either gets more than 1 USDT for the sale side or spends less than 1 USDT on the purchase side.

The fact that the protocol holds USDT for each token allows us to say with certainty that Asgard will not trade below its intrinsic value in the long term..

CHISTINA | CRYPTO MALLU CLUB

Q6. What is $Asgard and how are they utilized on your platform?

KEVIN | ASGARD

It is a currency backed by multi-asset stable coins. It is a currency of which the treasury and reserve are protocol controlled. It is a currency driven by a community-governed protocol.

Buying Asgard as close to or just below 1 USDT as you can.

Remember the distance from 1 is the risk you take on (actually it is negative below 1!).

Regardless of where you buy you can then stake your Asgard or provide it to the Pancake swap pool as liquidity and bond the LP token.

In both cases, you will earn more Asgard over time!.

Asgard is an advanced DeFi protocol

CHISTINA | CRYPTO MALLU CLUB

Q7. Why should I stake Asgard?

KEVIN | ASGARD

Staking Asgard will be profitable for investors.. For Example your Asgard balance will grow exponentially over time thanks to the power of compounding in staking in our platform.

Let’s say you buy a Asgard for $400 now and the market decides that in 1 year time, the intrinsic value of Asgard will be $2. Assuming a daily compound interest rate of 2% in staking, your balance would grow to about 1377 Asgard’s by the end of the year, which is worth around $2754. That is a cool $2354 profit! By now, you should understand that you are paying a premium for Asgard now in exchange for a long-term benefit. Thus, you should have a long time horizon to allow your Asgard balance to grow exponentially and make this a worthwhile investment..

Asgard works on Game theory , to know watch this video ..

CHISTINA | CRYPTO MALLU CLUB

Q8. Tell us about how funds are controlled with rebase mechanism.

KEVIN | ASGARD

As the protocol controls the funds in its treasury, Asgard can only be minted or burned by the protocol. This also guarantees that the protocol can always back 1 Asgard with 1 USDT. You can easily define the risk of your investment because you can be confident that the protocol will indefinitely buy Asgard below 1 USDT with the treasury assets until no one is left to sell. You can’t trust the FED but you can trust the code..

As the protocol accumulates more liquidity, more runway is guaranteed for the stakers. This means the stakers can be confident that the current staking APY can be sustained for a longer term because more funds are available in the treasury..

Rebase is a mechanism by which your staked Asgard (sAsgard) balance increases automatically. When new Asgard are minted by the protocol, a large portion of it goes to the stakers. Because stakers only see staked Asgard (sAsgard) balance instead of Asgard, the protocol utilizes the rebase mechanism to increase the staked Asgard (sAsgard) balance so that 1 staked Asgard (sAsgard) is always redeemable for 1 Asgard.

CHISTINA | CRYPTO MALLU CLUB

Q9. Please explain some key points about bonding in your platform.

KEVIN | ASGARD

Bonds refer to the process of trading Liquidity Provider (LP) tokens for Asgard tokens at a discount (below market price).

With Asgard, the process of purchasing bonds has been simplified to a one-step process. Instead of having to purchase the LP tokens then trading them for Bonds, users only need to have the asset-pair (BUSD + Asgard) in their wallet to purchase the bonds directly.

Bonds are vested for 5 days and are paid out per block height. For example, if you were to purchase a bond, after the first day you would have received 20% of the vested amount; then 40% after the second day, etc…

CHISTINA | CRYPTO MALLU CLUB

10. Any exciting news you would like to announce here today?

KEVIN | ASGARD

our Presale is live now

Now our Whitelist is public.
If anyone want to join, we are offering default Whitelisted. Please don’t be worried about Whitelisting.

Presale page is live

https://app.asgarddao.live/#/presale

Asgard DAO

Decentralized currency Reserve Protocol built on Binance smart chain. A community-owned decentralized financial infrastructure designed to facilitate growth and transparency .

Official links

Telegram Chat Group : https://t.me/Asgard_dao

Telegram Ann. Channel: https://t.me/Asgardanno

Website : https://asgarddao.live/

Discord: https://discord.gg/gXevKQJTAx

Whitepaper: https://docs.asgarddao.live/

Twitter : https://twitter.com/asgarddao_/status/1462536484620222469?s=21

Medium : https://medium.com/@Asgard_Dao

SEGMENT 2: LIVE Q & A

Q1) from @crypto123

Is your token is audited?

KEVIN | ASGARD

we are audited .

https://twitter.com/BlockAudit/status/1467447476546424833?s=20

Q2) from @hdkggs

Why you choose Binance Smart chain? we see some chain pop up with good scalability too, then why you choose BSC?

KEVIN | ASGARD

Correct.

As of now, we are on #BinanceSmartChain just because of Low Gas Fee and most scalable Blockchain for public use…

Since we were using Stable Coin with Fast Transaction, we selected BUSD. And BUSD is on #BinanceSmartChain

To avoid network congested, we have purchased our own node…

Our private node on #BSC Blockchain will help us for fastest transaction.

Q3) from @Bangladeshyy2121

IS This Your project only for elite investors, how about others with small funds, is it open to everyone?

KEVIN | ASGARD

This is open for everyone now. Just before the AMA, we did default Whitelist for public… Now anyone can invest with any amount of fund…

Everyone’s Welcome Here

And most importantly,

We Are Public Now. We Are Doxxed

Q4) from @Babubhai009

How many team members do you have? Do they have enough experience in the blockchain field? Do they have any experience on working in crypto and non-crypto project?

KEVIN | ASGARD

TBH, it was not easy to fork. As you know we are updated fork of Olympus.

It took more than a month just to make contracts and plans…

We are having 12 Contracts till now. But adding some more…

Please check out our public faces on LinkedIn, and decide when we entered the CryptoWorld

Q5) from @mayabiprem

STAKING is one of the STRATEGIES to ATTRACT USERS and HOLD Them and long term. Does your GREAT PROJECT have plan about to Staking?

KEVIN | ASGARD

Haha, Asgard Treasury have most beautiful APY to attract anyone…

As per calculations, we are going far more that 100,000% APY for initial Stakers…

And,
Staking works like,

One initial days or launch day, staking reward will be much higher, like 10,000% — 100,000% APR. (As per the Treasury Calculations, APY can go upto 500,000%, but we are still considering less figures)

Initial stakers will get high yield and will be decreased time after time as more stakers will join and reward will be distributed to all…

STAKING DON’T HAVE ANY CONDITIONS

STAKING HAVE

NO Minimum Staking Time
NO Minimum Tokens to Stake
NOT Referral is needed
CAN Claim Rewards anytime
CAN unstake and sell anytime

Follow ASGARD here for latest updates;

Website: https://asgarddao.live/
Twitter: https://twitter.com/asgarddao_/status/1462536484620222469?s=21
Telegram : https://t.me/Asgard_dao

Follow CRYPTO MALLU CLUB:

Group : https://t.me/CryptoMalluclub
Channel : https://t.me/@CryptoMallu_Club
Twitter : https://twitter.com/CryptomalluC