AMA Cryptoscreen With Zerogoki

On 21 July 2021, Zerogoki conducted an AMA in the Cryptoscreen Community. Our guest is the Antonio of Zerogoki.

Lots of questions as usual from the Community about Zerogoki progress. The Zerogoki team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Cryptoscreen community. If you missed the AMA in person, read this recap for a deeper insight into Zerogoki.

Let’s take a look at the most interesting points of our conversation.

 

INTRODUCTION

Idal Vernando :
Okay, Before I start the first session can you introduce yourself to our community?

Antonio :
Hi Team, I’m Antonio, the marketing head and core team member of Zerogoki and Duet Protocol. I have been in crypto for over 3 years now, have the experince working on securtity tokens and several other Defi products.

Idal Vernando :
Nice background
Your experince will certainly motivate us in the future😊

Antonio :
thank you

Idal Vernando :
Okay, In the first session I will give questions about Zerogoki, if you have given an answer please say “Done”

Antonio :
ok, noted

Idal Vernando :
Let’s start with the first question

Q1. Can you tell the members a little about Zerogoki?

Antonio :
Zerogoki, a transliteration of ‘零号機’ in Japanese, stands for the experimental model Unit-00, and its token REI is the pronunciation of the word ‘zero’ (れい) in Japanese. Thus, it’s a metaphor for a prototype.

Zerogoki is the pilot experimental protocol from Duet Protocol, which only has the Lite-minting module of Duet Protocol.

The birth of Zerogoki stems from Duet’s attempts to innovate mechanism design. Zerogoki is the first algorithmic stable leveraged asset minting and trading protocol. This is an outpost project of the Duet ecology, which will provide valuable experience for Duet’s subsequent steady launch. Through a concise and clear framework, Duet ecological participants will quickly become familiar with and understand the practical application of the algorithm anchoring mechanism. At the same time, users can experience convenient leveraged transactions of traditional assets on the blockchain.

Idal Vernando :
Perfect! Thank you

Q2. What do you think are the main features that differentiate Zerogoki from other projects?

Antonio :
1. zAsset list: Leveraged token for traditional assets in defi. This this one and only defi platform you can mint and trade derivatives of FX and Commodities

2. Algo-based pegging mechanism: Unique synthetic minting methodology and more opputunity for arbitrager. Zerogoki governance token has strong value back to support the synth assets.

3.Community driven: Zerogoki is an important part of Duet eco and its participaters will be important stakeholders in feature.

Idal Vernando :
Q3. What are the services that Zerogoki provides to users?

Antonio :
1. Mint Zerogoki synthetic asset (zAsset)

2. Farm with zAsset and REI

3. Governance of Zerogoki

4. Algorithm pegged stablecoin zUSD

Idal Vernando :
Q4. What are you looking most forward to doing in #Zerogoki ?

Antonio :
First, the birth of Zerogoki stems from Duet’s attempts to innovate mechanism design. Zerogoki is the first algorithmic stable leveraged asset minting and trading protocol. We hope that in future Zerogoki will help the most exciting DeFi innovation and experamental product get delivered.

Second, Zerogoki’s mission is to take presure test of Duet protocal and educate potential users. Through a concise and clear framework, Duet ecological participants will quickly become familiar with and understand the practical application of the algorithm anchoring mechanism.

Last, Zerogoki will help to bridge transactions of traditional assets on the blockchain.

Idal Vernando :
This is last question in segmen 1

Q5. What is your progress on your roadmap till now? And what is your future plan in 2021?

Antonio :
We are excited to announce that Liquidity on Zerogoki has reached $3Million and growing stronger and REI price has skyrocketed 700% and various leverage tokens were added.

In 2021, Zerogoki has 4 main goals to achieve:
1. Provide pressure test enviorment for Duet Lite Mint Module.

2. List more novel deveratives of on-chain native asset pegging traditional assets.

3. Onboard governance module

4. Use all protocol revenue to benefit users and stake holders of Zerogoki

Idal Vernando :
Okay, we move on to the second session, which is a question from Twitter😊

QUESTION FROM TWITTER

Idal Vernando :

Q1. Your Governance Model brings me to this question, who is responsible for selecting the project where 0Zerogoki is investing? Can the community vote according to the numbers of tokens they own or the decision making of the project to be funded is solely made by your team?
@Kowshik43211725

Antonio :
For now, Zerogoki is in its early stage. At this time, the team is here to provide initial trading liquidity, set basic parameter, ensure the code sequrity, onboard key products,and provide solidy mechanism.

After Zerogoki goverance module go live, the DAO will take charge of keeping the project operation and maintainance. It will just like any other DAO-oriented defi projects. Staker holders lock their token and get voting rights for proposals.

Idal Vernando :
Q2. What is $REI token used for? How can I get $REI token? What are the benefits of holding $REI token?
@gem07330708

Antonio :
REI is Zerogoki’s core asset, which is used as a fuel for synthetic leveraged assets. For every $1 of synthetic assets minted, $1 of REI will be burned. Synthetic assets and REI are two-way interoperable, and the same redemption of REI of $1 needs to burn synthetic assets worth $1. In the long run, as the supply of synthetic assets grows, the total amount of REI will enter deflation, and the actual total amount will gradually decrease.

For short term, holding REI and provide liquidity can earn high APY in yield farming. Reinvest REI reward can accumulate compound. APY. Or they can just join governance, get sigle token staking reward.

For long term, they are huge demand side of REI token and it’s deflation economy. The totally supply will be decreased.
At the same time, REI holders can recieve protocol revenue from protocol users.
It’s a valuable asset in every aspects.

You can buy and Trade REI here : https://zerogoki.org/#/

Idal Vernando :
Q3. I understand that Zerogoki is a relatively new project and it strikes me that in various parts of their documents and social networks they mention Duet Protocol, so what is the relationship between Duet Protocol and Zerogoki? How do both projects work on mutual development?
@georgehi270

Antonio :
REI is the token of Zerogoki, the advanced version of Duet’s platform. REI is the core asset of Zerogoki. It is responsible for the verification of the algorithm anchoring mechanism in actual trading scenarios and is used as fuel for synthetic leveraged assets.

Like KSM and DOT, it is open and running as an independent project.

Zerogoki undertakes a certain stress test function of Duet, and its risk and profit structure are significantly different due to the difference in mechanism design.

REI and zUSD are mainly oriented to traditional investment target derivative assets, providing many original investment targets for the crypto market, such as: zUST 20L US 10-year Treasury bond futures 20 times more, zXAUUSD 10L gold spot 10 times more, and zEURUSD 20L EUR/USD 20 times more such derivatives.

Duet is currently mainly for synthetic assets in US stocks. Zerogoki will continue to maintain and operate steadily. If the subsequent Duet’s synthetic asset module protocol upgrades, it will also be tested on the Zerogoki first.

Idal Vernando :
Q4. – What is the release schedule of tokens? What jurisdictions are eligible to participate in the sale? Will the sale be fairly distributed over the different membership tier levels or can we expect higher tiers to have the option to invest more?
@karebet_budi

Antonio :
REI will be distributed by farming in following 1-2 years. Most of allocation is rewarded to LP holders.
There is no public sales and won’t face regulation risk.
The rest of allocation will also be used to incentive project participater as eco partners. There won’t be public sales. Only way to get REI are buying from DEX, join the farming, contribute to Zerogoki.

Idal Vernando :
This is last question in segmen 2

Q5. It caught my attention that on your tokenomics I saw that 25% of KEI is destined to “Stabilization Reserve”, can you tell us more about this reserve? On what hypothetical cases will this stabilization reserve be needed? Why do you need that much of KEI for it?
@ngo_nguyenkhang

Antonio :
When facing extreme market downside, this part of reserve will be used to help synthetic asset pegging stablility. Since if REI price goes down dramaticly, its liquidity could be insufficient to support zAsset redeption.

Zerogoki project will use treasury to provide liquidity for REI to resis price goes to dead spiral or zAsset redeption failure. (In general situation, price goes up and down may not also be unilateral. With the REI price goes down in short term, the synthetic assets redeption will burn more REI in quantity, which will significantly reduce the circulating supply of REI, helping price stability.

LIVE/FREE QUESTION

Question 1

Does Zerogoki apply any rules for the valuation of leveraged assets?

Antonio :

We use same calculation method that FTX used, and rebalance the postion when underlying assets changed 10%, pls check our doc from the bottom of zergoki.org to see the detail method.

Question 2

Zerogoki is a leveraged synthetic asset minting platform based on algorithm-pegging model from #DuetProtocol. So as a beginner, can you tell me further about the Algorithm-pegging model and how does it work? Also may I know your relationship with DuetProtocol?

Antonio :

In the algorithm-pegging module (Lite Mint), Duet supports direct burn DUET and mint equal dollar value synthetic assets. Zerogoki is a fark of Duet Lite Mint module, which means in Zerogoki, the synthetic asset is minted via buring equal value REI.

For example, one users wants to get $100 worth of zUSD from mint sector, this user need to provide $100 worth of REI, input into Zerogoki, burn it, and mint $100 zUSD as return. So in the end, there is $100 REI reduces in circulating supply and new 100 zUSD issued.

Zerogoki is one of Duet ecosystem and delivered by Duet team. However once governance module is ready, all these project will governanced by DAO.

Question 3

As a DeFi platform using AMM model, in what areas of decentralized security does Zerogoki innovate to successfully implement like Pancake Swap? And how can you plan to achieve that while other DEXes simply can’t?

Antonio :

Actually Zerogoki doesn’t have its own self-built AMM DEX yet.

The project leverages Uniswap and all token trading transactions happen on Uniswap V2. The internal DEX is still on our roadmap. Please stay turned.

Question 4

In Yield Farming programs,when they mint the tokens it simply causes inflation and devaluation of tokens. How Zerogoki Ecosystem will resolved this problem so that the value of token consistently rises.? By what method will you reduce the inflation?

Antonio :

REI token value will constantly increase alongside the increase of holds and the raising amount of zAsset. What best for traders is hold REI as early as possible, due to the demand of REI will raise.

The key points are incentive zAsset liquidity providing and zAsset traders. First, the system set high yieldling reward to zUSD/zAsset liquidity provider.

Currently it’s could be the one of the most profitable farming pool in whole defi market. Second, the zAssets are unique leveraged farm of traditional asset and other hot trending assets, such as Metaverse index(already listed), US Treasuries and stock index.

Question 5

How will the system incentivize REI/USDT, zUSD/USDT, zUSD/zAsset liquidity providers and users who have REI to participate in blocking governance? What will be the level of return earned by users providing liquidity? Will their assets be locked?

Antonio :

The liquidity provider will receive 50% of the initial total REI allocation, of which the REI/USDT and zUSD/USD liquidity pools will receive no less than 25% separately of this part of the allocation.

The rest is allocated by leveraged tokens versus zUSD’s liquidity pool.In the first week, the REI-USDT pool reward is 5,000 REI/day. zUSD-USDT pool reward is 4,000 REI/day.

There is no lockup for REI rewards. Users can claim their REI anytime they want.

 

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More information about Zerogoki

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THANK YOU.

 

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