HECO AMA Series Recap — VEE.Finance

Guest: Grant Reistad from VEE.Finance
Host: Andy of HECO

Introduction — Segment I

Welcome, Grant Reistad. Could you tell us about yourself? What did you do and why did you choose to work for Vee.Finance?

Hello, everyone! I am Grant Reistad, And I lead the marketing team at Vee.Finance. I am a veteran of the banking industry, having worked for financial institutions such as GE Capital, GE Money, and Discover Financial before joining Vee.Finance.

Q&A — Segment II

  1. Could you tell us more about your project? In other words, what does Vee.Finance do?

Sure! Vee.Finance is a DeFi lending protocol, which aims to commit to bridge the gap between traditional finance and DeFi and providing users with better digital asset management services. Vee.Finance’s fundamental goal is to reduce barriers for traditional users to participate in DeFi and optimize the efficiency of global asset allocation.

Currently, Vee.Finance is live on HECO and Avalanche. Users can supply any supported assets on our markets and use the provided capital as collateral to borrow another supported asset.

2. There are many similar out there, some have been quite successful. What is special about Vee.Finance compared to other projects?

The bottom-layer lending of Vee.Finance protocol is the same as that of Compound and AAVE, that is, a variable interest rate lending protocol. Anyone can supply and withdraw or borrow their assets to obtain a floating interest rate.

Our main differences between Vee.Finance and existing solutions are:

-Vee.Finance solves the liquidity problem by building a pool of different underlying tokens to achieve rapid aggregation of lending needs. So, the protocol has 2 separate lending sectors, Crypto and Stable Coin. Each sector has different parameters, suited for different lending needs.

-Vee.Finance aims to optimize asset allocation. We will add new features like fixed-rate products and cross-chain lending for the benefit of users and token holders.

3. DAO is really important for all web 3 projects! Security and user interface are the most important aspect that users see on a platform. How do you guarantee users’ asset security?

Security is of paramount importance to our team and we always think about how to bring the security of assets to our users. I share our attention and actions in security here.

-Security Audit. Vee.Finance’s smart contracts have passed the security audit by SlowMist and CertiK. We are also in contact with more authoritative security agencies to participate in the security of the Vee.Finance protocol.

-Data Monitoring. We updated our services to continuously monitor the suspicious activities in the pool and arranged dedicated personnel to monitor the backend 24/7.

-Product Testing. Vee.Finance optimized our product testing procedure to ensure that no users will ever suffer losses related to our product protocol.

4. Could you please provide some progress? What results Vee.Finance has achieved so far?

At the moment, Vee.Finance offers a full lending service that allows users to supply or borrow assets on the platform. The team developed the mobile version of Vee.Finance and integrated various wallets to ensure the best possible experience for our users.

We also have deployed Vee.Finance smart contracts on the Heco Chain and Avalanche network, and we will deploy other public chains in due course based on suggestions from our community users.

5. What problems Vee.Finance wants to solve through cross-chaining?

The potential for the overall DeFi lending market is nowhere near fully unlocked, and the liquidity is split across different public chains is very inconvenient for users of the lending product and additional costs are lost in the process.

Vee.Finance is working on launching a cross-chain lending function to connect the assets markets of various public chains, providing interoperability of assets between different public chains, and enabling seamless participation in DeFi.

6. Can you talk about VEE token? What are the benefits for investors in holding tokens? What are the usage areas?

VEE is the native governance token of the Vee.Finance, there are a number of protocol parameters that will be controlled by governance, including parameter setting and protocol upgrades. VEE staking will also give holders the ability to enhance reward acceleration, and significantly enhance APRs of the users lending pools.

As Vee.Finance matures, the protocol will eventually be governed by a DAO containing VEE token holders and governance structures.

There are plenty of cases in the history of crypto that long-term holding is the way to invest for generational wealth. Those who invest long-term will gain higher profit margins in the future.

7. What are the steps and requirements to be able to get reward acceleration?

The reward acceleration is a new feature that was added after Vee.Finance was available on HECO. VEE token holders can stake their VEE into the Vee Finance on HECO to receive reward acceleration and Vee Finance provides a flexible acceleration mechanism.

Namely, the longer or the more VEE stake, the higher acceleration rates they get, and they can earn a boost of up to 5x mining rewards. Read more here:

https://docs.vee.finance/guides/reward-acceleration

8. Marketing strategy is very important in a project. So that a project remains standing and successful. How do you build a strong community for good?

Marketing is a very important factor that brings any project to users. There is no exception for Vee.Finance. We have done many marketing activities, including:

- Connecting with influencers, KOLs

- Doing AMAs in many channels

- Publish articles in Medium and other communication channels.

- We also provide some incentive programs for users like staking pools, airdrop to enable them to get rewards.

Our marketing efforts are focused on developing healthy communities, user acquisition, and retention. We also have plans to find community leaders in various regions to be responsible for their local community construction. If you are interested, feel free to contact us.

9. How many partners does Vee.Finance currently cooperate with? Can you share a few more information about them?

Currently, we have announced partnerships with Chainlink, Pangolin, Donnie Finance, and Cobak. We are close to announcing some more exciting partnerships soon, and we are also working with a number of other service providers, You can find out more about each one on our Medium.

10. What are Vee.Finance’s main goals in 2022? What are the next plans?

Our target of always serving our community users, we will continuously improve our products and add more functions to provide a fantastic user experience. We have several key objectives in our pipeline in 2022, like deploying more public chains and fixed-rate products.

11. While you build your project, do you take into account community feedbacks and demands?

We are always very active on our social media channels. Users and the community are the most important thing to us. Join our telegram group or Discord channel to give us feedback! We are always very happy to listen to the community and improve Vee.Finance.

About HECO

HECO Chain is a decentralized, high-efficiency, and energy-saving public chain, and the first product launched on the HECO Chain Open Platform. On the basis of supporting high-performance transactions, the compatibility of smart contracts is realized. HECO Chain’s native digital asset is HT, which uses the HPOS consensus mechanism.

· HECO Website

· HECO Twitter and Telegram Channel (For the latest news)

· HECO Telegram Community

· HECO Discord (Welcome all developers to join!)

· HECO Explorer

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