coinwire.com hosts an AMA with Blur Finance. #BlurFinance #BNBChain #BSCDaily #AMA
Coinwire Admin: Here we go fam, welcome to our AMA with Blur Finance. I’m Daley, your host, and I’m joined by Mr. Tim Bard – CMO. Tim, would you mind telling us a bit about yourself to start the AMA?
Tim Bard: Hello everyone. This is TIm Bard. You can just call me Bard. I was a former employee of Proof Systems. I have also worked with ConsenSys, FOAM, Dether, & Grid+, Centrality, Sylo (a decentralized messaging dApp with 300k users in NZ), NEAR Protocol etc. Now I’m in charge of marketing of Blur
Coinwire Admin: Alrighty, Bard also worked at Earn.com for those who don’t know! Pleasure to have you here with us
Tim Bard: Me too. Really glad to be here
Coinwire Admin: So let’s start this AMA with our first segment: Q&A with the host. We have prepared a few questions for Bard here about Blur Finance. The first question is:
Q1: Who are the people behind Blur Finance?
Tim Bard: I guess I can introduce them through quoting the “team” page of Blur Whitepaper. There are 15 staff members in the Blur team. Most of them are blockchain engineers. Here are some team leaders in Blur:
Harry Lenerdo | CEO
As the founder of Blur Finance, Harry worked for a software development company experienced in building complex blockchain products. He is taking the technical role in the product with an extensive team of web3 developers, web and mobile developers, system architects, security experts and analysts.
SHADOW BAT | FRONT-END DEVELOPER
Shadow bat leads front-end development of Blur Finance and has been programming and making apps for 14 years. While he has built and designed large scalable systems, his recent focus has been UI/UX development. With his previous co-founding experience, Shadow has experience in leading small teams. His areas of interest are programming (specifically functional programming) and human- computer interaction.
JASON | BACK-END DEVELOPER
Jason is a full stack developer with prior experience in automation engineering, development of scalable and efficient tools, and providing backend services for large corporations. In Blur, Jason is responsible for backend development of the protocol.
Coinwire Admin: The team is indeed really technical, and I think that’s a strong edge that you have against the other projects. So let’s talk about Blur right now:
Q2: What is Blur Finance all about? Give us a little summary. How long has this been in development?
Tim Bard: Blur aims to deliver the best yield aggregator to BSC. Basically Blur is building vaults for users to maximize their yield. All assets users deposit into Blur vaults will be auto-compounded on Venus and Pancakeswap. The tokens earned from those platforms will be exchanged for more assets for the next turn of auto-compounding. Blur vaults have been built and tested for two months and here we are, freshly listed on Binance Smart Chain！
Q3: Why did you and your team decide to build Blur when there have been various yield aggregators in the BNBChain?
Tim Bard: Most of us have been using Beefy or other famous aggregators in the past few years. But most of them don’t really have a user-friendly UI and it takes time to get started with. So it comes to us someday that why don’t we build a yield aggregator ourselves? It can be a more easy-to-use and more gas-saving protocol. And that’s why we decided to build Blur
Coinwire Admin: DeFi right now is in need of “new blood”, and with legislation about to come to this market, people are going to have more confidence to join. However, as you said, some renowned protocols look somewhat complicated for the new users to use. Hence, Blur Finance is here to help with that. But aiming to solve those problems alone can’t help the protocol last. That’s why I have this question:
Q4: Let’s dive into your tokens $BLR. Can you share with us your tokenomics?
Tim Bard: Yes here they are:
Initial Liquidity: 10%
liquidity staking rewards: 60%
Seed Round investment: 12% (Release 2% monthly after 6 months)
Community Reserve：8%（Release 2% monthly after 3 months）
Development Reserve & Team Reserve：10% （Release 1% monthly after 6 months）
Total Supply of $BLR will be 100,000,000
Coinwire Admin: Interestingly, you don’t have ICOs or Pre-sale, but you do have seed rounds. Would you mind elaborating why? Is it an effort to limit inflation?
Tim Bard: Yeah we have raised funds for developing Blur yield aggregator. The seed round fund-raising helped our team to recruit some blockchain experts. We’ll see if we can buy back the seed round tokens to ensure they can be burned to ensure a deflation.
Coinwire Admin: I see, it’s a crucial step to take. Let’s move on to the next question:
Tim Bard: Yes it is.
Q5: Give us an introduction to the impressive staking pools that you have. What are the next pools that Blur Finance is considering adding?
Tim Bard: Currently we have two kinds of pools: Venus pools and PancakeSwap pools.
All single-assets users deposit into Blur vaults will be auto-compounded on Venus lending pools. The interests earned from Venus will be exchanged for more single-assets for the next turn of auto-compounding. All liquidity pairs users deposit into Blur vaults will be auto-compounded on PancakeSwap farms. The rewards (Cake) earned from PancakeSwap will be exchanged for more LP for the next turn of auto-compounding. We’ll add more single-asset pools first in the near future. There will be three: USDC;ETH;BTC. And more LP pools are also on the way!
Coinwire Admin: Check them out at blur.finance fam! Also, since the APRs are soooo juicy, and you spend 60% of tokens to reward stakers and liquid providers
Q6: What mechanism have you employed to prevent investors dumping the tokens?
Tim Bard: We’ll expand user cases of $BLR in the coming future. You can stake BLR to earn BLR currently. It’s a makeshift way of preventing possible dump. We’ll enable holders of BLR to decide which pool to be launched next. There will be buyback of $BLR with the performance fee charged.
Coinwire Admin: Gotcha, the project is still very new, so users can expect more use cases in the near future. But also because the project is new, it may raise some concerns about safety
Q7: Have you been audited? Also, in case of an attack, how would you compensate the users?
Tim Bard: Yeah we’ve passed the audit by SolidProof. Here’s the link: https://github.com/solidproof/projects/tree/main/BlurFinance
We’ll make sure there won’t be any bugs to be hacked. If the attack really happens we’ll compensate users with seed round funds and performance fees charged, in the worst scenario.
Coinwire Admin: Hopefully it won’t happen. But, preparation is never wrong. What about your future plans:
Q8: How do you plan on putting more TVL on the board?
Tim Bard: As we are providing a financial service, Blur aims to achieve more exposure to more users, which requires more marketing. Also, more pools will be introduced to users to maximize the yield with assets they have. As long as we keep building and offering stable services, our team has confidence that TVL will rise steadily with a growing number of users. That’s the plan! And with that being said, I think people would love to research more about you, maybe join Blur Finance even
Q9: Where can we find out more about Blur Finance? Maybe if you have any events right now for early comers, let us know!
Tim Bard: We are also open for new members. I’ll paste some useful links here:
The next big thing to come is: Blur will launch a cross-chain integration with the Polygon network! Polygon users will also have access to Blur aggregator!!!
Coinwire Admin: Check them outtttt 🔥🔥🔥
Coinwire Admin: With this we are now at the end of our AMA session with Blur Finance 🔥🔥🔥
Time for wrapping up, any last words you would like to say to our community?
Tim Bard: Once again, I’m glad to be here and I wish you all a good day. DO remember to try our yield aggregator! Thank you Daley and thank you all.
Coinwire Admin: Thank you Bard for being here with us and introducing Blur Finance to the BSCDaily community! Take care man