Mr Bụt
💥 Dear community, VIC GROUP will host an AMA with KRYSTAL TEAM!!
And our guests today is @e13sunny and @hiepcopywriter 😘 welcom to VIC group
Jason Vu | Never DM you first
VIC is such a very young & active community. I’m glad to be here.
Mr Bụt,
AMA will have 3 parts
👉Part 1 : Basic Introduction of KRYSTAL and Guests Sunny is Ceo of KRYSTAL with JaSon Head of Marketing of KRYSTAL
👉Part 2: Guests Sunny is Ceo of KRYSTAL with JaSon Head of Marketing of KRYSTAL will answer community questions from to form
👉Part 3: All members can ask anything directly about KRYSTAL
Sunny 🐻,
Excited to be here !!
Mr Bụt
Group will be muted for AMA to start!!!!!
We’ll start with part I
👉Part 1 : Basic Introduction of KRYSTAL and Guests Sunny is Ceo of KRYSTAL with JaSon Head of Marketing of KRYSTAL
Hello 2 guests we can start @hiepcopywriter @e13sunny
Sunny 🐻
Yeah, lets do it.
Mr Bụt
Thanks, We will come to the first question of part I
Question : What did you do before crypto and did you have any other previous venture in crypto? What is your role at Krystal App?
Sunny 🐻
Ok, I will go first.
Hey VIC Community,
I’m Sunny -CEO of Krystal DeFi.
Before Krystal, I had led the development of multiple Fintech products from ideation to execution for major players in the market like Apple and Alipay (Lazada). Having since expanded my expertise to the DeFi market, i’m now dedicates my time to developing Krystal to achieve its aim of being every user’s go-to for everything DeFi
— done —
Jason Vu | Never DM you first
Hello VIC Community. My name is Jason — Head of Marketing at Krystal. Prior to this, I have worked at a Forex company, then KyberSwap — a DEX ulitizng Kyber Network protocol (I think you’re familiar with this brand in Vietnam).
Then I only dove down into blockchain/crypto in the middle of 2019, when I was looking for some of the most suitable ways to invest my money. The more I researched, the more interested I am in this industry. In a stroke of luck, KyberSwap was recruiting a Marketing Manager at that time & of course, I couldn’t miss that chance. After 1.5 years, we decided to revamp KyberSwap to a totally new full-fledged platform so-called Krystal. That’s why I’m here today.
- done -
Mr Bụt
Yes, thanks for the introduction and the answer from the guest, we will continue the second question
Question : What is the project about in a few simple sentences? For how long have you been working on Krystal App? How many people are on the team?
Jason Vu | Never DM you first
yeah
Sunny 🐻
Glad to be here. Let me explain about Krystal
Krystal is a brand new decentralized mobile app (iOS & Android) with a great user experience that will save users time, money, and effort by consolidating the best DeFi services under one roof. Our website will be launched soon.
In addition to this, Krystal is:
- A simple UI/UX for all defi touchpoints. Protocols are integrated directly on the app so users can access easily. Supported project are: Uniswap, Kyber, SushiSwap (on Ethereum), PancakeSwap (on BSC) and other protocols on other chains in the future.
- The easiest place for users of all level can earn passive income from lending via AAVE/Compound/Venus, liquidity mining and commission from referral codes.
— done —
Mr Bụt
Thank you for the answer from the guest, we will continue to question 3rd
Question : Simple UI/UX is very importance for mass adoption, is this what you are aiming to achive?
Sunny 🐻
Ok, let me take this one as well. :)
Jason Vu | Never DM you first
sure
Sunny 🐻
Yes, UI/UX is very important for users.
As DeFi grows, there are many advanced action users can do such as liquidity mining & yield farming.
However, in order to access these different features, users currently have to navigate through complicated UI from multiple platforms, learn the nuances of directly using each of them, and compare rates and gas cost before making a final decision.
For instance, if someone wants to earn yield on USDC, he has to decide
- if he wants to deposit it on Compound, AAVE
- or another platform,
- or provide liquidity in an AMM pool,
- or perhaps even deposit it at a centralized exchange.
Each option provides different yield returns and has different risks involved, and it is challenging to track assets across different platforms using multiple tabs. Overall, this could be overwhelming and frustrating for new DeFi users.
We believe that we can reduce these complexities and greatly simplify the DeFi experience so we can attract more users of all level to DeFi world
— done —
Mr Bụt
Thanks for the answer and explaining to everyone the importance of UI/UX for users
With the second question mentioned Referral code
We will come to the last question to understand what is Code ref ?
Question 4 : Usually i only see referal program on centralized exchanges but i havn’t seen it on a Decentralized wallet before. Could you give me more details about how Krystal’s referal program work?
Krystal referral program sounds quite interesting. Could you give more details on it?
Jason Vu | Never DM you first
Let me answer this question
it could be a long answer
Mr Bụt
Details will make it easier for users to use Krystal
Sunny 🐻
Bring it on.
Jason Vu | Never DM you first
Before diving in “Referral Program”, I would like to explain Krystal Points — our Point-based reward system first. So we’ve built a comprehensive point-based reward system that we call Krystal Points. As a user, you can earn Krystal Points through multiple avenues (e.g. a referral link) and redeem all your Krystal Points. Then the interesting thing is you can convert Krystal Points to ETH (on Ethereum), to BNB (on BSC) with one single tap on the app.
The ways to earn Krystal Points may include (among others):
- Welcome Bonus — Any users upon successfully installing and importing a wallet in the Krystal app will get certain Krystal points.
- Streak — Any users who successfully complete 100 swap txns at Krystal will get some Krystal points.
- Learn & Earn — Any users who successfully learn about any blockchain projects via Krystal app will be entitled for Krystal points.
- Retweet campaign — Users are motivated to retweet a specific tweet and some users are randomly picked by the Krystal team and are given Krystal points. Users can redeem these points for ETH.
- Referral — Users can invite their friends to use the Krystal app and earn rewards in Krystal points. Reward amount may vary depending on how much and what activities their friends perform on Krystal.
Since 27th May, Krystal also support Binance Smart chain thus the commision could be collected on both blockchain.
On Ethereum you will collect eKP and on BSC it is bKP.
To learn more, you can find it here: https://support.krystal.app/support/solutions/47000522901
- Done -
Mr Bụt
Yes, thank you for explaining in detail about Code ref and adding 1 more detail that the product supports BSC and ETH
We end part I and continue part II with the questions collected from the form
Jason Vu | Never DM you first
Sorry for interupting you @Mrbut88
Referral Program is very critical, so could I dive in details on this, and give an example to walk community members through it?
Mr Bụt
It is very welcome because it is for the benefit of the users please
Jason Vu | Never DM you first
thank you
So here is how Referral Program works on our dapp:
When creating or importing a wallet in Krystal, 05 Referral Codes will be automatically generated for the User (Referrer) to send to the friends (Referees).
If a new User creates/imports a wallet and perform a digital asset swap in Krystal via a Referral Code, the Referee’s Trade Volume will be used to calculate Tiers for the Referrer and the Referee following the structure given below:
Referral Code 1: 100% for the Referrer’s Tier — 0% for the Referee’s Tier.
Referral Code 2: 75% for the Referrer’s Tier — 25% for the Referee’s Tier.
Referral Code 3: 50% for the Referrer’s Tier — 50% for the Referee’s Tier.
Referral Code 4: 25% for the Referrer’s Tier — 75% for the Referee’s Tier.
Referral Code 5: 0% for the Referrer’s Tier — 100% for the Referee’s Tier.
Each wallet of a Referee is associated with one Referral Code generated by a Referrer. Neither the wallet nor the Referral Code can be replaced.
In order to get 05 Referral Codes, the User needs to import a wallet (or create a new wallet) to Krystal, then access the Explore → Krystal Point → Referral tab. The User can find out 05 Referral Codes associated with his wallet on this screen. Each Referral Code can be used to introduce multiple Referees.
You can find more details about Referral Program here: https://support.krystal.app/support/solutions/articles/47001181546-referral-program
And here is an example
Jason Vu | Never DM you first, [13.06.21 20:24]
Alan downloads the Krystal app and imports his Ethereum wallet. Alan will be given 5 Referral Codes which he can share with anyone. Alan shares Referral Code 3 (50%-50%) to Jake.
Switching to Jake, he refers Alice with Referral Code 2 (75%-25%) and Bob with Referral Code 3 (50%-50%) to Krystal. Both Alice and Bob don’t refer anyone to Krystal.
Suppose during a month, the Trade Volume of Jake, Alice and Bob is 50 ETH, 100 ETH and 30 ETH respectively. Thus, the Confirmed Volume to calculate their Tiers will look like this:
Confirmed Volume of Alan = 50% * (Trade Volume of Jake) = 50% * 50 = 25 ETH
Confirmed Volume of Jake = 50% * (Trade Volume of Jake) + 75% * (Trade Volume of Alice) + 50% * (Trade Volume of Bob) = 50% * 50 + 75% * 100 + 50% * 30 = 25 + 75 + 15 = 115 ETH
Confirmed Volume of Alice = 25% * (Trade Volume of Alice) = 25% * 100 = 25 ETH
Confirmed Volume of Bob = 50% * (Trade Volume of Bob) = 50% * 30 = 15 ETH
And the respective Tiers as well as Krystal Points Earned will be:
- done -
Mr Bụt,
Yes thanks for the detailed explanation of the benefits of Krystal for users
We will continue with the first question of part II
Mr Bụt
Question : Can you list 1–3 killer features of KRYSTAL that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Jason Vu | Never DM you first
@e13sunny I think you should take this one
Sunny 🐻,
ok. sure.
DeFi is very dynamic & in order to adapt to the fast-changing needs, we sought to build an app that is both inclusive and innovative, that could provide a wide range of exciting features that can be easily and securely accessed by users from all walks of life.
As i mentioned earlier, we will focus on:
- A simple UI/UX for all defi touchpoints. Protocols are integrated directly on the app so users can access them straight from the app, such as: Uniswap, Kyber, SushiSwap (on Ethereum), PancakeSwap (on BSC) and other protocols on other chains in ther future.
- The easiest place for users of all level can earn passive income from lending via AAVE/Compound/Venus, liquidity mining and commission from referral codes.
— done —
Mr Bụt
Yes, thanks for the reply from the guest, we will continue with the second question
Question : Trust and security is very important in any business , what makes investors , customer and users safe secure when working with your project?
Sunny 🐻
ok.
Yes, security is always our top priority. All of our smart contract have been fully audited by 3rd party professionals. Our audit reports are available on Krystal git hub.
— done —
Mr Bụt
The next question : How is KRYSTAL development going? Can you describe in detail current development efforts, market expansion plans, expected applications, and when will they become commercially available?
Sunny 🐻
let me take this one as well.
Krystal was launched on 20 April & since then we have added a lot of new features.
Platform — Krystal app is available on both Android & iOS. Our team is working very hard to launch desktop version. Expect the good news in a week or so
Supported Chains — Ethereum & Binance Smart Chain (BSC). Users can now swap their token through PancakeSwap on BSC or Uniswap on Ethereum. In very near future we are going to support Polygon as well.
Features — Currently supporting Swap & Lending. We also offer referral as explained by Jason just now. We are also working with many DeFi Dapp to integrate them directly into the app.
We are very positive that Krystal will become one stop shop for all DeFi users of all level by the end of the year
— done —
Mr Bụt
Yes, thanks for the answer from the guest, next question
Question : You said that Krystal’s Earn service is the best choice, how does Krystal’s earn work? what should the user do, what % of the profit we gets, please explain to us?
Jason Vu | Never DM you first
let me handle this one
DeFi is very dynamic & in order to adapt to the fast-changing needs, we sought to build an app that is both inclusive and innovative, that could provide a wide range of exciting features that can be easily and securely accessed by users from all walks of life.
Therefore, we build the Earn service as a “Yield/Saving aggregator” that seeks the best yields/interest rates in all Defi then aggregating them in 01 single stop shop for all users. It means that the user can access AAVE/Compound/Venus & other platforms in Krystal in ease, and you can supply your funds to earn attractive yields/interests with just several simple taps in the app.
- Done -
Mr Bụt, [13.06.21 20:41]
Yes thanks for the answer we continue with the next question
Mr Bụt
Last question : What is the function of crystal point? and you say the value of krystal points is 1ETH = 10,000 Krystal points, what if the price of eth goes up/down? Will the value of Krystal points also follow the price of ETH?
Jason Vu | Never DM you first
As I mentioned above, Krystal Point is a point-based system of us that allows users to accrue via multiple actions in the app, then he can convert Krystal to ETH (on Ethereum), BNB (on BSC), and Matic (in Polygon Matic), Sol (on Solana)
“and you say the value of krystal points is 1ETH = 10,000 Krystal points, what if the price of eth goes up/down?” — -> Yes. 1 ETH = 10,000 Krystal Points on Ethereum. And 1 BNB = 10,000 Krystal Points on BSC. I know that Defi users always want to earn more ETH/BNB. Thus, if the price of ETH goes up, the value of Krystal Points will follow it.
- done -
Mr Bụt
Trước khi bước qua phần III xin bật mí với mọi người là hiện tại Krystal đang có event dành cho người đăng ký mới
Phần thưởng chào mừng — một chiến dịch dành riêng cho các thành viên Vic:
3.000 ví đầu tiên có mã Vic sẽ đủ điều kiện để nhận 10 eKP (~ 0,001 ETH) & 5 bKP (~ 0,0005 BNB) khi cài đặt ứng dụng Krystal và nhập mã này: <VICGRP2>
Để nhận được tiền thưởng, tất cả những gì bạn cần là:
- Bước 1: Cài đặt ứng dụng Krystal (có trên cả Google Play Store & App Store, hoặc bạn có thể tìm link tải tại đây: https://krystal.app/
- Bước 2: Tạo / Nhập ví của bạn vào ứng dụng
- Bước 3: (Rất quan trọng) Bạn cần nhập mã ref = <VICGRP2>
Sau đó, bạn có thể thấy 10 eKP trên ví Ethereum và 5 bKP trên ví BSC của mình ngay lập tức. Tuy nhiên, chức năng xác nhận quyền sở hữu sẽ được kích hoạt sau đó. Trong thời gian đó, bạn vẫn có thể tích lũy thêm Điểm Krystal với các chương trình giới thiệu và các hoạt động khuyến mại khác trong ứng dụng.
Mr Bụt
Yes, thank you for your questions, please choose the 5 most interesting questions to answer
Jason Vu | Never DM you first
Ok,please give me 3 mins to pick up 5 among thousands questions @@
Question : I saw that now Krystal users can swap BEP-20 tokens via PancakeSwap on BSC. So, will users only be able to do it via PancakeSwap or do you have plans on adding other ways people can swap their BEP-20 tokens? Also, now that you’ve added BSC, which one will you add next to Krystal?
Yes, we recently added support for BSC. Right now we are integrated with PancakeSwap. Soon Venus and other protocols will be added. We are also giving $20,000 rewards on BSC.
Please use VICGRP2 code while downloading the app.
Question : What strategy will be use to Introducing your project crypto and non-crypto people? What would be the 3 important things about your project everybody should know?
We’ve implemented referral code. It’s first time a decentrazlied app has implemented it. We also focus a lot of UX and add relevant features. We plan to reach out to user via word of mouth. Do try our app and refer your friend. you can earn BNB or ETH. Use code VICGRP2
Question : How do you see gaming on Project evolving in 2021? NFTs are a big part, is there anything else you can share currently regarding your endeavours in gaming?
Gaming is essential part of tech world. But until now the speed of transaction was limiting game development. With upcoming new chains such as BSC, SOLANA and L2 solutions like Matic solves this problem. I am expecting to see a lot of traction in gaming side.
We are currently exploring NFT marketplace segment for Krystal. We firmly believe in NFT Potential.
Question :
What is biggest focus for KRYSTAL at the moment and what is the number #1 priority for the team in the next 6 months??
Defi is growing supper fast with many ecosystems. We’re trying to support as much major chains as possible, and doing native integrations with corresponding protocols on it. Thus, we can make sure that users can access some basic services like Swap/Transfer/Saving/Earning Interest in all ecosystems. In addition, we also release more kool features like Staking or other services like Syrup pool on PancakeSwap that allows users to stake naked tokens to earn other tokens.
Question :”STAKING” is one of the STRATEGIES to ATTRACT USERS and HOLD Them long term.Does your GREAT PROJECT have plan about Staking?
Yeah, I agree that “Staking” is one of the most useful strategies to keep users holding tokens for long term. That’s why I mentioned “staking” feature in my answer above. I also would like to give more info about our plan with Staking. So basically, Krystal will implement 02 kinds of staking: (1) External staking: Running staking for numerous tokens from different projects, such as: Stake OGN to earn more OGN or stake LINK to earn more LINK. (2) Internal staking: Similar to PancakeSwap Syrup pool. We will allow users to stake a token (could be the native token of Krystal in the future if we had plan to issue it) to earn various other tokens.
Everything will be revealed in our roadmap this year
- Done -
Mr Bụt,
Yes, thank you for all the questions and answers from the guests
Jason Vu | Never DM you first
In addition, there is one more news I would like to inform VIC Community
So we do partnership with VIC in Vietnam. It means this AMA, Welcome bonus & $20,000 trading contest are just initial activities of this partnership. Krystal will join hands with VIC Community to bring more big campaigns & exciting activities to members in the future. Please keep using Krystal app & bear with us!
I’m fully done, such an informative AMA. Thank you so much VIC Community ^^
Mr Bụt
Yes, thank you for all the questions and answers from the guests
If you have any questions or concerns, feel free to join
AMA END !!!!