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Nick Avramov, CMO of Symbiosis Finance, answered the questions

vc_rowvc_columnvc_message message_box_color=”white” icon_fontawesome=”fas fa-audio-description”Backed through Symbiosis/vc_messagevc_column_textSymbiosis’su Finance challenge, which enables simple use of liquidity among different blockchains Nick Avramov replied probably the most frequently asked questions:

you’ve gotten garnered an excellent deal of consideration in Turkey. Are you making plans to organize a different experience for Turkish customers?

we’ve always regarded as Turkey as one in every of the most efficient markets, however why? Cryptocurrency adoption is expanding day by way of day and there is great hobby in era. Turkey could also be one of the prime countries in the world in DeFi and that is the reason why we are right here.

Do you plan to set up a Turkish Telegram staff for Turkish users?

Yes, our primary focus for now. to grow our international team and achieve extra users. Then we plan to arrange native Telegram groups. The Turkey staff may also be considered one of the primary local groups we plan to establish.

Do you plan to begin any farming application for the SIS token?

Yes.

We will evaluate in keeping with the demand.

Will Symbiosis support Layer 2 networks (Arbitrum, Optimism, Zkysnc and so on.)?

December 2021-January 2022 We Are planning to add Arbitrium and Optimism beef up as of now. But our final goal is to support all Layer 2 networks within the long run.

Are you considering an airdrop software for early other folks taking part in the trying out phase of Symbiosis?

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Actually, it is already tester We did an airdrop for ‘s. i’m not sure if we’re going to do a new airdrop each time soon. However for worm finders and testers, we might make a new assertion soon.

At The Same Time As liberating Symbiosis Finance, what problems did you consider fixing in DeFi? What drawback will Symbiosis remedy?

There are 2 primary problems we would like to unravel;

the first drawback we want to unravel is that different networks can work with each other. We want to remedy the disproportionate distribution of the quantity of locked budget (TVL) in the chains, together with the straightforward transition of liquidity in numerous networks.

the second one problem we want to unravel is the complex person interface of DeFi platforms.

We use fixed swimming pools for each alternate, so we have very efficient liquidity. We use those swimming pools efficiently with a device referred to as smart routing.

Are there any institutional traders who’re in contact with you and are taking into account investing?

Currently Blockchain.com , Spartan group and many institutional investors. thanks to Dragonfly and a couple of companies, we now have supplied liquidity, so i think these are enough for now.

How will the sensible contracts on Symbiosis be secured?

Safety is our most sensible priority. one among the topics. For this, we divide the wallet private keys into three portions with a machine called “Threshold Signature Scheme”, and on this way, no birthday celebration can own all the personal key, expanding security with this decentralization. Individuals nodes (nodes) need to stake a few SIS tokens to join the system. in this machine, nodes that approve wrong transactions are penalized. In this way, we take safety to the next degree.

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Which exchanges do you intend to record the SIS token on in the first degree?

SIS was once indexed on Gateio and Bybit earlier this month .

We Are working on list our token on a few more exchanges.

what is the role of the SIS token within the Symbiosis surroundings? Why did you wish to have a token?

SIS token is used as a governance device for Symbiosis DAO and Treasury. On top of that, relay network nodes need to stake SIS to take part in consensus and process swaps.

Did you stumble upon any critical insects during testing?

No, we’ve not encountered any severe bugs.

How so much enlargement potential do you think that the DeFi surroundings has over the next FIVE years?

Construction on symbiosis It serves as a basis for many projects. all of us understand the position of TCP/IP transport within the adoption of the web. Symbiosis will allow this transition for the DeFi surroundings and assist the surroundings grow.

DeFI surroundings has nice potential for enlargement, we will be able to see it all in combination.

Symbiosis Finance official web site: https:/ /symbiosis.finance/
Symbiosis Finance Twitter: https://twitter.com/symbiosis_fi
Symbiosis Finance Telegram: https://t.me/SymbiosisFinanceChat/vc_column_text/vc_column/vc_row

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