Welcome!
On Friday, August 19th, our first-ever AMA Session was held in the UniLend Finance Community as part of our expanding collaboration. UniLend’s Manisha Keswani (UniLend Team Member) hosted an eventful AMA for our (Founder) Ra. Vin in the UniLend Finance Community just before our highly anticipated uBoost dApp went Live. In AMA, questions and queries regarding the uBoost mission and how it will benefit UniLend Flash Loans were answered.
2000+ members participated in this Amazing AMA session from both the communities.
And the community has been rewarded with $200 worth of $UFT & $USDT tokens through participation on Twitter and Telegram.
The AMA started with greetings, well-wishes and brief introduction then shortly after went down to nitty-gritty and Manisha asked questions she suspected the UniLend community would most want to be answered. Here’s the transcript of this session -
Part-1 Questions From The Host
Q1. What is uBoost for our audience members who don’t already know? Can you please give us a brief overview? Also please tell us what inspired this concept?
Ra. Vin-
uBoost is an integrated interface on top of multiple DeFi protocols that are bringing DeFi more accessible to the crypto audience. Our first service is a market making interface that allows uncollateralized borrowing of liquidity from liquidity pools of UniLend and swap it on DEXs for boosting volume of both the paired tokens. This is a move in direction to empower communities and projects and leverage the multiple utility of flash loans.
Our inspiration came from the potential of what flash loans to break the barriers of traditional finance. We saw UniLend protocol’s flash loan a game changer and we wanted to expand the utility of it and bring the revolution for the non tech community of crypto as well.
Q2. What kinds of challenges or hurdles have you run into along the way? Also can you expand on some of the major updates that uBoost is bringing to the table in the short-term?
Ra. Vin -
We believe user experience is the core challenge in the entire crypto ecosystem. The current Dapps miss an intuitive nature of usability and we had to overlook and research this extensively. We embedded UI and dapp experience strongly in our ideology.
At uBoost we are first starting a flash loan service with UniLend Finance Protocol. We are launching market making for new projects on DEXs across Ethereum, Polygon and BSC. And you can soon expect us to bring much more utility out of flash loans with arbitrage, collateral swap, self liquidation and many more unexplored areas.
So yeah these are some updates from uBoost team 😁
Q3. This all sounds really exciting 🚀. Can you tell more about the team?
Ra. Vin -
I am so glad to be introducing my team to you all.
We’re 2 founders, me and Ronam, our uBoost product lead. We together have built multiple projects over the last 3 years in the fintech space. Both of us have software development experience and have passionately developed products in DeFi and NFTs.
We are also joined by team of 4 more people from Poland, Singapore, Dubai and Bangladesh. This is a small team that is highly aligned towards building a world class product and thus we chose to keep us anonymous for sometime. Keeping ourselves away from buzz allows us right now to be more focused on building high validation and tractionable products.
Q4. Awesome, I can tell your team has been working very hard. So let’s talk about the token , how will your guys’ token play into all the buzz that’s surmounting?
Ra. Vin -
Thanks to you and the entire UniLend team for continuous support 🙂
But I assure the community uBoost token will rise to be one of the best DeFi token with tremendous opportunities
Q5. This is really cool tech 🔥.. How do users of both the UniLend and uBoost platforms benefit from our partnership?
Ra. Vin -
Until now UniLend flash loans were more actively used by developers around the globe. And they are the one taking leverage out of this game changer aspect of DeFi technology.
uBoost product features on UniLend flash loan service will activate an environment for non developers and the entire crypto community to start utilizing flash loan for market making, collateral swaps, arbitrage and self liquidation.
Together we will transform financial independence.
Also we cannot think of a better partner than UniLend Finance. I have special gratitude towards Chandresh and the entire UniLend team for supporting us at uBoost. They provided us with mentorship, grants and industry insights that have extensively been used to bring uBoost products to you all.
And we are sure this partnership will multifold from here.
After answering the important questions that UniLend host Manisha brought for our Founder Ra. Vin, then questions and queries from UniLend’s Twitter and Telegram community members were answered for the giveaway. Ra. Vin was excited to answer questions from the community.
Part -2 Questions From UniLend Twitter Community Members
T1. Community and Partnership are fundamental things required to the project growing. How does uBoost deal with these two factors?
Ra. Vin-
So true! We acknowledge the great role the community plays in the development of any project. We have seen this happening right here at UniLend Finance also. Post our product launch we are channelizing our efforts in community development as well.
There are a lot of events like bug bounty and trading competitions are also planned to give the community a first hand experience of uBoost.
Partnerships are already in line. We are soon introducing some big partnerships with DEXs and the value addition through such collaborations. Please stay tuned to exciting news through our twitter.
T2. Is this platform suitable for Crypto beginners? Or does it only appeal to professional users?
Ra. Vin-
Absolutely! This is what the uBoost vision statement was. We have built our product that can be used by anyone out there and flash loan guide from UniLend is a great starting point.
Our intuitive interface makes it completely easy to borrow flash loans from UniLend Finance and utilize it over DEXs. We would love to have your feedback around the product so please do write to us on twitter or DM me here on TG.
T3. It is difficult for investors to trust and invest in new projects lately, and most projects claimed to be tampered with. How can investors trust your platform?
Ra. Vin-
Thank you for bringing this up. Trust is a key element and we are particular about taking security a serious aspect in product development.
Our smart contract has been reviewed thoroughly and we have routed our product to multiple testing agencies. We would love to highlight all these to the community on our lite paper launch.
T4. Each project has interesting stories before it is created. So can you tell people about the story that gave you the motivation to build and develop a great project like yours?
Ra. Vin-
We love APIs and Integrations layers ❤️
And we have a culture of participating in hackathons together. The idea of uBoost first struck us in one such event and we took a brainstorming of 3 months before first applying to the UniLend Grants Program. Since then Ideas have grown out to be much bigger picture we started with.
T5. Tell me how your project is different from others?Is your project a local project and a global project ? Can anyone use your services from anywhere in the world?
Ra. Vin-
We’re global 🌍
Our team is global 😁
Crypto breaks the boundaries and definitely uBoost has been developed to be utilised by anyone out there in the world. And we are sure irrespective of your experience in the crypto you will find the uBoost utility very intuitive.
I would like to highlight 🔥🔥🔥🔥
uBoost Dapp is going live tomorrow 🚀
And we are excited to grab the reaction from the UniLend community ❤️
Check out our uBoost dApp Teaser :- https://twitter.com/uBoostApp/status/1427624750126403593
Part -3 Questions From UniLend Telegram Community Members
Q1. Non-crypto users are very important for mainstream adoption. How are you planning to attract non-crypto users towards your project? Is there any upcoming partnership that will bring non-crypto users and real-use cases?
Ra. Vin-
I transitioned my career from web2 to web3 in 2019. I understand what opportunity crypto has for the entire world.
Our vision is to be the torch bearer and pull the non crypto audience here in the clan.
We have started looking at partnerships with communities that are giving outreach of crypto, blockchain and DeFi. We will also
1. Create events and educational content around the DeFi in general.
2. We will be launching many trading challenges to grab the audience’s interest.
Q2. Many investors hit and run in the sell and sell session after listing on the first exchange. How did Your project prevent early investors from selling their tokens and what benefits would you give them?
Ra. Vin-
For the same reason we are looking at product development as much more priority than token launch.
We understand the community always looks for an opportunity in IDOs but we want to add maximum value to our token holders.
And the product updates that we will be bringing in a few months will first bring real traction to the platform and the community will really take a sensible call to hold or release tokens whenever we launch our token on an exchange.
Q3. Most of the projects planned for global adoption, mainly hope to spread to Asian communities. But will this project welcome other community members besides the Asian community? As an African, I can access your project without any restrictions. Do you have a language translator for non-English speakers? ?
Ra. Vin-
We highlighted in the AMA that we are a global team.
Communities from Africa are prominent players in the entire crypto ecosystem and I am confident their value addition is very much required.
We will definitely launch our communities and we look forward to your participation in growth and product development.
Q4. What are the ways that your project generates profit / revenue to sustain your project and what is its revenue model? How can it be mutually beneficial for both the investor and your project?
Ra. Vin-
uBoost is exploring multiple revenue models. But our focus is to expand the integration with many protocols and bring a unified DeFi layer for the community.
Over time we might experiment with such revenue models but I am sure we will utilise a good part of uBoost revenue for community participation.
Q5. Which one of these aspects is important for you?
1-Increasing Token Price&Value
2-Empowering Platform Development
3-Building Community Trust
4-Expanding Partnership Globally… In what order?
Ra. Vin-
Here in the order
Building Community Trust — -> Empowering Platform Development → Expanding Partnership Globally — -> Increasing Token Price & Value.
After answering several questions from the Global UniLend Community, it was time to wrap things up so both teams could get back to the rewarding work of building the future of decentralised finance.
Our Founder, Ra. Vin, graciously thanked the Global UniLend Community for an memorable event and praised UniLend’s host Manisha for organising such an amazing AMA session.
Make sure to check out uBoost dApp and social channel if you haven’t already to stay up-to-date on the latest on our collaborations with UniLend Finance and a number of other important DeFi protocols.
uBoost dApp : https://uboost.xyz/
uBoost Official Twitter: https://twitter.com/uBoostApp
Soon we will release guides, documents & videos around the use of Flash Loans and Market Making. Also get ready to soon be part of our TG community and contribute with us in building the integrated interfaces for DeFi.
If you enjoyed our AMA Session, please share this AMA blog with your friends.
Also don’t forget to join our Official Twitter for partner AMAs and giveaways. Stay Tuned for further updates.
