RECAP OF NORD FINANCE AMA WITH CRYPTO TALKZS

8 min readApr 28, 2021

On the 27th of April, the Crpto talkzs community played host to Nord finance and enagaged an eventful AMA session.

Nord Finance team led by the CEO Amarnath joined Crpto talkzs telegram community to discuss and share insightful information and events on Nord finance.

The AMA session was moderated by Princess Joy, Crpto_Talkzs community Moderator.

To ensure clarity, this article is divided into three sections; the first section gives a full account of questions asked by the AMA host while the second section gives full detail of questions asked by the Twitter community and the last section accounts for the telegram community Questions.

PROJECTION INTRODUCTION

Princess joy: Hello Chat, Welcome to a special AMA session with NORD Finance

Amarnath: Hello, thank you for inviting me today

Princess joy: Please introduce yourself to our community @amarnath_reddy

Amarnath: Sure. My self Amarnath CEO of Nord Finance, I have been into crypto since 2017 end, the exact last bull run. I was fascinated by the technology and volatility of the industry, we then Co-Founded Amesten Asset (crypto Hedge fund) taking care of operations and Research analyst for early-stage blockchain startups.

After leaving from Amesten in Sept 2020, I have Co-founded Nord Finance along with Jignesh vasoya who is lead Developer at Tezos India Foundation, he also worked on financial platforms with Ethereum & Hyperledger Fabric. Jignesh and me know each other for quite some time and we have been exploring DeFi space for quite some time, we then came up with this idea of founding Nord Finance.

Princess joy: Can you briefly describe what is NORD Finance? We would like to know more about it and how it works.

Amarnath: At Nord Finance, we are building a one-stop advanced decentralized financial ecosystem for its user’s investments to meet their financial goals. Within the Nord Finance ecosystem. We are trying to build traditional finance applications such as savings, investment and loans on DeFi. We are chain agnostic which means we will be available on multiple blockchains.

We have below Key Products;

Nord.Savings: Earn highest risk-adjusted APYs across chains

Nord.Advisory: Risk profile based Robo Advisory

Nord.Loans: Overdraft crypto loans/loans against portfolio

Nord.Swap: Multi-chain asset swap facility for DeFi users

Princess joy: What are your main features that distinguish you from other projects and what competitive advantages do you have?

Amarnath: Our Savings protocol is live on Ethereum, we are going to live on BSC and Polygon ( Matic) very soon. we will be first savings protocol to be live on three major blockchains taking advantage of the defi growth on each chain.

Our NORD advisory will be first of its kind once we launch, we will be early mover into this untapped market. We hope to take advantage by being early mover.

Princess joy: How has the experience and background of your team been effective in the success of your project so far?

Amarnath: We believe in project development is being a core part of our success, our team is heavy on tech and development.

We have 6 devs team working on to build, can find about our team details at https://nordfinance.io/

Princess joy: What are you looking most forward to doing in NORD Finance?Amarnath: Our savings protocol will be live on BSC and Polygon soon, we are also launching our own on chain staking platform on BSC. We are planning to bring Nord Advisory as our next product which is very exciting to build. We will update our road map accordingly soon.

Princess joy: Could you please provide some progress on your Roadmap and what results NORD Finance has achieved so far? And any sneak peek into 2021 plans for NORD Finance?

Amarnath: NORD FINANCE ROADMAP

Q1 2021

✔️ Protocol Audit (Final stage)

✔️ Nord savings launch V1

⌛️ Nord savings launch V2

✔️ Staking program (SP1)

Q2 2021

⏳ Nord swap launch V1

⏳ Nord loan launch V1

⏳ Staking program (SP2)

Q3 2021

⏳ Nord advisory launch V1

⏳ $Nord Collateral program (CP1)

Dashboard: https://app.nordfinance.io/

Telegram: https://t.me/NordFinance

Telegram News Channel: https://t.me/NordFinance_Ann

Twitter: https://twitter.com/Nord_Finance

Medium: https://nordfinance.medium.com/

TWITTER QUESTIONS

Q1. Nord. Savings is a platform product that allows users to optimize returns through a cultivation mechanism adjusted to the highest possible risk. Could you explain in detail how returns are maximized? How does the protocol employ the highest risk-adjusted APYs?

Amarnath: Nord Savings first and foremost principle is to safeguard the capital. We deploy user funds to most safest and high liquid lending platforms like compound, Aave and venus protocols. By which users can earn risk free stable returns, we also reward users with $NORD for liquidity mining. Users will earn yield in both stable coins + $NORD

Q2. I have seen Nord Finance offers a variety of very useful services such as savings, loans, etc … but I am interested in their advisory services, what kind of advice regarding the simplification of financial products does Nord offer? Do you have a use case?

Amarnath: Like I said earlier NORD Advisory will be our most exciting product, robo-advisory service designed to chalk out profitable and customized strategies for users to hold better positions based on their financial goals. The automated robo service analyzes the user profile and evaluates personalized solutions that will help accomplish the users’ financial goals by employing a diversified portfolio. The data-driven proprietary algorithms facilitate unleashing the potential of a certain portfolio by executing smart tactics. This service is a revolutionary move as the technical nitty-gritty of the DeFi landscape might seem a bit complex for novice users, thus demanding assistance for the same. We are yet to build the same, which will be announced in later stage of road map.

Q3. Nord finance has a treasury fund, that is the results of all fees collected in the platform, so can you tell us what are the usages of these funds exactly? Why do you need it?

Amarnath: We have a small fee/profit share would be charged by the protocol in $NORD. These fees will be retained in the protocol treasury.

Its NORD revenue from the products we offer, once we grow in treasury number we use part the funds to buy back NORD and lock them in supply.

Q4. I could see in your app that the savings in Binance Smart Chain Mainnet is not yet available, would you really have the exact date of when it will be available? Besides which tokens will be available for it?

Amarnath: We are supposed to launch our BSC savings a month back, unfortunately it got delayed as its undergoing security audit. We tired our best to expedite the process as it’s the most awaited product for our community.

We are in touch with our Auditors to give ETA for the same, we wish to launch it in May without any delays.

Q5. You said Nord Finance “integrates multi-chain interoperability”. Interoperability is one of the most prevalent problems in crypto and blockchain. How does Nord Finance solve this Interoperability problem?

Amarnath: Nord by being chain agonist means our products will be available on all major blockchain, which means users can interact NORD on any blockchain. Interoperability means allowing users to access use our product seamlessly on different blockchains. This will be future as we give users a choice to choose where they want to interact. We are glad that we are working on the same successfully.

TELEGRAM QUESTIONS

Q. Nord Finance has interesting products to offer its community, but the Nord.Advisory really stands out, can you tell me how fast is the in-built robot service when asked to make a customized strategy? Can users make use of this service with no chance of contest it at all?

Amarnath: In NORD Advisory Stratagies are made from the back testing data, risk apatite of the users and end goals. So all the strategies will have built with at-most care and backed by experience. We will build them to use it by the community. We will see in future if we can make the strategies build by users and chosen by community via governance.

Q: About your token, what are the primary utilities of $NORD Token and how can the users mine or purchase your token? Also what are the benefits for holding and investing $NORD in the long term?

Amarnath: NORD token has various utilities in the Nord Finance financial ecosystems: Liquidity Mining: For the Nord Finance ecosystem to function properly, users would need to be incentivized to play the role of liquidity providers and stake their digital assets into the market making pools. As compensation for opportunity costs as well as impermanent losses, these liquidity providers which help to promote adoption of the Nord Finance ecosystem by staking or including assets to liquidity pools would be rewarded with $NORD tokens (i.e. liquidity “mining” programs on the Nord Finance ecosystem), according to each user’s relative contribution after various adjustment and correction parameters.

Incentivizing programs: Users can earn $NORD token incentives by participating in the platform, such as trading/exchanging or developing new strategies for the vault.

Distributing Fee Rewards: To stimulate participation in the platform, $NORD token will be distributed as rewards to users for various contests and community giveaways.

Community governance incentives: The $NORD token holders will earnestly participate in the protocol’s governance by voting on various proposals regarding product upgrades. Users will be required to stake their $NORD tokens in the staking program to participate in governance and vote on proposals, and as a reward they will be able to earn additional $NORD tokens proportionate to their contributions.

Service fees: For the services rendered a small fee/profit share would be charged by the protocol in $NORD. These fees will be retained in the protocol treasury.

Cross Chain Settlement: Using the $NORD token as the base platform currency, $NORD will expedite digital asset swaps between compatible blockchain seamlessly.

Q. The biggest allocation token is for ecosystem 35% (pls correct your chart, it said 25%) from total supply 10M $NORD. Would you tell a bit how it is used?

Amarnath: 35% is 25% of ecosystem and 10% of reward pool. 3,500,000 $NORD is allocated for the community in the form of a reward pool and ecosystem. A total reward pool of 1,000,000 $NORD will be distributed under incentive programs, including yield farming, staking, and liquidity pools over 12 months.

Under Nord Finance Ecosystem, we have allocated 2,500,000 $NORD to be distributed for future community-based platform reward programs for the next 24 months. https://nordfinance.medium.com/nord-tokenomics-and-distribution-edba056bf6e1

Q. There are a lot of projects which have already rug pulled on its community. How your project is different, unique and trust worthy?

Amarnath: Benning Public and working to build real products with tire 1 partnerships should not worry about rug pulls . We are here for the long term game , not to be part of any pump and dump. Though the price is not in our hand , its the market that decides its value . We continue to build and execute products as per the roadmap.

Q. Where can I buy $ NORD tokens? And how much is 1 $ NORD token currently worth?

Amarnath: Nord Listings:

Official $NORD contract address

(https://etherscan.io/token/0x6e9730ecffbed43fd876a264c982e254ef05a0de)0x6e9730ecffbed43fd876a264c982e254ef05a0de

Note: Remains same on both chains ETH and BSC

DEX Listings: Uniswap: (https://app.uniswap.org/#/swap?inputCurrency=0x6e9730ecffbed43fd876a264c982e254ef05a0de)

Pancakeswap: (http://bit.ly/NordOnPanCake)⚡️ ParaSwap (https://paraswap.io/#/)

Matcha.xyz: (https://matcha.xyz/markets/NORD)CEX Listings:

Gate.io (https://www.gate.io/trade/NORD_USDT)

Bitmax (https://bitmax.io/en/basic/cashtrade-spottrading/usdt/nord)

Bilaxy: (https://m.bilaxy.io/app/trade/1076)NORD Cross chain Bridge:

It was pleasure having you @amarnath_reddy :)

Thank you so much for spending time with our community & all the very best for “NORD Finance” 🚀🚀.

Amarnath added that crypto_talkzs members can ask more questions by joining NORD Finance Telegram Group