Ask Me Anything with Neuron Fund at ICO Speaks: Summary July 18-th held an Ask Me Anything session at ICO Speaks telegram chat. From the Neuron Fund team there was: Max Tandelov, founder and CEO of Neuron @tandeloff
I am CEO of Neuron Fund project that aims to create the platform for investments/savings from one place. Let’s get started!
Q: What is the current status of the project? A: Main modules and systems of the project is already finished, and now our team needs to complete working on some technicalities and polishing. We are preparing to release soon! Q: How do you plan to engage the community? A: We are interested in the feedback of community, so various activities in the socials, or bug hunting will be rewarded.
Moreover, we aim to create product that fits saving demands of users. Neuron will offer saving product also, not only Invest product. So we greatly appreciate feedback on features!
But how will this feedback will be received by your team?
We are planning to hold Dev sessions, where everyone would be able to discuss current stage of the project and ask relevant questions about it, or just speak to the devs directly. Q:What is your plan for the nearest future? A: Current priority is to present the project for the crypto community and interested investors\funds. We are currently in the middle of the partnership negotiation with Cointelegraph. Such partnership is not fundraising, but searching for clients (users) also. We will offer institutional investment products among others: constant interest rate pool, for example.
Q: You are promising quite substantial yields. What would you say to the people who would think that these project could potentially be a rugpull? A: I would say: I understand your concerns about security.
In 2021 rugpulls got more rare, but they still happen. Hacker attacks are often.
To increase community trust in code, we’ve already made 1 audit and we are going to make 1-2 more to further decrease the risk of auditors’ inattentiveness.
Bug bounty program will be launched with the project: we will pay ethical hackers for finding and reporting vulnerabilities. Correctly held bug bounty program will definitely improve the security of Neuron Fund protocol’s code.
Q: DeFi projects aren’t really that popular right now, what audience do you intend to attract? A: To be completely honest, projects became no less crowded than they were 1-2 months before the peak. In current state of DeFi adoption, corrections are displeasant for bullish investors, but they are normal. You can also view current market in the following way: in fully developed and balanced markets yields are not that wild as you can see now in DeFi: stablecoin interest in the 10-25% range is just mean, not risky for decentralised world! I had problems explaining these interest rates to people from traditional finance.
If you listen to this AMA today, you can consider yourself a pioneer. You get most of the benefits, but you definitely want to be more covered from risks. Neuron can’t change market’s correction, but it makes risks, volatility and returns for liquidity providing pools accessible and transparent. I hope that will help you make mindful desicion on where to apply you cryptoasssts and USD stablecoins.
Q: What makes you different from major yield aggregators like yearn or vesper? A: Diversity of the investment or saving opportunites, transparency of our pools for the client and security high enough even for users with special demands for it.
At launch we will offer 4 products:
1. Liquidity providing Neuron pools for reliable assets and DEX projects
2. Option Neuron pools generating exceptional yield for ETH or WBTC
3. Lending pools for stable gains with minimal risk.
4. Stable APY pool for institutions. Q: Well could you tell us more about diversity, what do you mean by it? A:Essentially, there are different incentives to use DeFi. One of them is gaining returns on deposited assets (native crypto or stablecoins) via protocols with capital demands: dexes, lending protocols, liquidity mining programs.
We aim to cover every opportunity for a capital provider (name it: investor, money market fund user, user seeking savings product) to gain interest. Pools are chosen based on the balance between returns and risk and are regularly updated. Since such opportunities are more fruitful at launch and it’s a complicated task to stay vigilant to them accross different chains and projects, Neuron protects their users against the FOMO feeling as well 🙂 Constant monitoring and research of new projects is replaced by just staying up to date with Neuron pools’ updates. Q: What about transparency and security? A: We stress the point that no one ever own user’s assets except themself. Such is the way Neuron was developed and this approach will never change: deposits are routed by means of smart contracts mechanics.
Our works is to make smart contract mechanics itself secure with several audits and ongoing bug bounty program. Q: Are you a global project, or a local project?
-Can anyone use your project anywhere, without any restrictions?
A: Thank you for this question. We are global project and aim to make finance accessible for everyone no matter where he or she was born.
The ultimate goal is to make hedge-fund level investments completely independent of
1. entering capital
2. residence Q: Why did you go with ‘BSC’ blockchain network and not some other? A: We are crosschain-oriented: we will launch on Ethereum and Polygon with other chains coming soon Q: Most users only care about immediate benefits rather than the real value of the project in the long-term. How can Your Project convince users invest to your platform in the long-term? A: When you are committedcommited to long term goals, your clients will see that in your product – I believe in that.
Our long-term goal is to make decentralised hedge-fund that offers it’s products for anyone interested to make world economics more just and equal – for the benefit of everyone.
Q: Is your whitepaper released or ready? Can you please share with us to study for the community? A: We are ready to publish protocol details on the lending page, this will happen in a matter of days – to be notified, subscribe to twitter.com/neuronfund 🙂
Q: According to the roadmap, What are your most important next priorities? Does your team have enough funds and strong community to achieve those milestones? A: Our next big priority is improving investment analytics (returns/volatility time series) and overall improvement of risk assessment to help users make investment decisions.
On funds: yes, we are privately funded.
Q: How do you keep your project running for the future? Do you have a unique strategy that you use in your project? A: Unique strategy, to say briefly – to maintain high and reasonable longterm goals. 🙂
Q: The security system of a company is very important. To avoid hackers who want to take or break into company systems, be it company data or user data. How are your efforts for project security? Do you have a specific security system for your project/company? And do you also provide special security guarantees for users/investors? A: We will launch bug bounty program with the protocol to incentivise ethical hackers find and fix minor and major vulnerabilitiesvulnerabilies in code.
Q: At this moment, which one the most Necessary for your project:
Exchange and why? A: Our user are of most importance. No matter what your funding or are you in comfortable market conditions if your product doesn’t fit your client’s demands.
Q: On which companies did your team work before this project and experience? A: I am Physics B.Sc. in past and worked on data analysis in Neuroscience lab before entering fintech. 🙂
Q:Please, tell us more about your token use cases. What benefits do you suggest? A: Thank you for that questions.
Token holders (when they stake NEUR to get veNEUR) get proportional part of fund’s performance and management fees.
Just as for traditional fund, but with revenues shared with it’s clients.
Q: Where does the name of the project come from? What does this mean for you and why did you choose that name for your project? A: Well, I worked for some time in neuroscience field and stay in love with brain science even today!
Q: Could you please send some links about your project so we can know more clearly about your project? A: Sure! https://medium.com/neuronfund-announcement/neuron-fund-and-defi-yields-fc2a53efdb9e
New articles, whitepaper announcements will take place on twitter: twitter.com/neuronfund
Q: Revenue is a very important, aspect for all projects, to survive and maintain the project / company.
-What is the way to generate profit / revenue of token?
-What is the income model? A: We make revenue through the fee model: perfomance fee on interest and management fee on assets in the protocol.
Q: My question is about your long term marketing plans. How, or through which big partnerships do you plan on utilising to pass your product onto the normal – especially non-crypto people? A: We are in process of creating media (videos, articles) for novice users in DeFi and crypto to make investments in DeFi just as easy as depositing funds to one’s bank account.
ICOSpeaks hosted an AMA Session with the Neuron Fund Team. That’s all for today.