AMA Recap GreatDrop with VISION NETWORK

Hello GreatDrop community,

On 22nd November, at 12:00 PM UTC (19:00) we just successfully hosted our 13th AMA’s with VISION NETWORK, Bringing Interoperability to the DeFi Ecosystem.

With our guest from VISION NETWORK team:

  • Jarod, CEO of VISION NETWORK

Many of you might have participated or many of not, So here we are up with the AMA transcript for those who missed the AMA session.

Introduction Questions Asked By GreatDrop Team

Q1: Can you please introduce yourselves and tell us about your project to our community?

First of all, let me thank you and your community for this wonderful opportunity of exposing our project to you guys. I am glad to be here.
I am Jarod, CEO of VISION NETWORK.

VISION NETWORK is a whole ecosystem in itself. It’s a governance model business that aims to deliver several much-needed functions in the DeFI space. We want to create an interoperability bridge to connect most of the existing popular DeFi solution and the Vision App that will be the platform to go to for DeFi solutions.

Q2: What kind of achievement your project has made so far and what target your project want to achieve in the next year?

We have just released our wallet (which will have several use cases in the future). We continue to develop our product, Mainnet is expected for Q1/Q2 2021.

Q3: At the moment, what is Vision Network focusing on?

At the moment we are focused on developing our bridge, respecting the roadmap, and becoming a community project, a DAO.

We have also just launched staking via Ferrum Network’s Unifyre wallet
It wasn’t planned, but it’s a bonus for our community.

Dear Visionaries,

To be able to take advantage of VSN Staking, you will have to use the Unifyre wallet.
Here are the links

Unifyre iOS:
https://apps.apple.com/us/app/unifyre-wallet/id1505450820?ls=1

Unifyre Android:
https://play.google.com/store/apps/details?id=com.ferrum.unifyre

Unifyre website :
https://unifyre.io/

Vision Network Team

Q4: Where can I find the team working behind Vision Network? Why do you prefer to be anonymous? Are they people who are reliable in their fields?

Most of the team members are located in Northern Europe.
We wished to remain anonymous because we come from a small country and some of us also have another job in parallel.
This scared off some investors at the beginning but we are still here.

Yes, all members who work on VSN have the skills for and all my confidence.

Q5: Why do you prefer to use the PoV consensus? What are the advantages over PoW and PoS?

We want to launch our POV because ETH is currently a network that can be quickly congested and where fees are very high.
I will give more details in the following questions.

Blockchain is evolving quickly and I can’t wait to see what ETH 2.0 will do, it may change our plans.
No need to invent the wheel if it already exists.

Questions Asked on Twitter For VISION NETWORK Team

Q1 from @Shayla407

Proof of Work (PoW) and Proof of Stake (PoS) are two fairly common terms in the cryptocurrency market in particular and the Blockchain space in general. Why Vision Network choice a new consensus as Proof of Vision?

Pov “Proof of Vision” is a new consensus, due to our conception of Vision Blockchain we need a lot of scalabilities and consequently low transaction fees. With a combination of hardware and software improvement, great scalability and fees close to zero.

With this technology, and by making available a portion of our income, we will be able to ensure no-fees to users of our application who participate in the stacking program with their VSN’s.

The election of the nodes will be done in a similar way to what is generally called DPOS, the nodes which will have a mission to secure the network will be submitted to the votes, and the DAO (the people who stack the VSN) will be the determining factor of who will be a node or not. Staking will be done on the principle of redistribution of part of our income according to the number of VSNs owned.

With strong interoperability favored by the use of the Vision Bridge, we expect a significant number of users which will ensure interesting staking for any holder of VSN.

Having VSNs will not only give weight to the operation of the DAO, to use Vision Bridge at no cost but will also allow you to collect VSNs on a daily basis. It also means that the more the Vision Network ecosystem is used, the higher the income.

Q2 from @manugotsuka1

Vision Network have so little fees and the vision Bridge claims that will have Zero COST, so How Vision network Will generates its passive incomes to sustain the developement?

Yes, our goal is not to generate money on our community’s transactions — quite the contrary.
We want a fluid and accessible network.
Concerning our finances, the team has 35M tokens which will also be managed by the community for the development of Vision Network.

Q3 from @zambrano_li

Can you tell us more about the VSN-B blockchain you mention on your Litepaper? Would you mention some of the best features and advantages of operating on your own blockchain? How will it benefit investors of $VSN?

We need a node system to secure our Bridge, so the best way to incentivize them is by securing rewards. Transaction costs will go partially to the nodes, and of course mining rewards which implies a minor inflation model to help sustain the ecosystem.
As for the no-fees part, those who stake VSN will be using the “Vision App” without any fee cost for transactions. This will be one of the benefits of staking VSN. Also, once the application starts generating some revenue, this is where our token will have not only, a governance utility, but also will gain in value because stakers will benefit from getting these revenues.

Q4 from @Rosanela08

How can Vision Network make the adoption of DeFi from new users easier, How much knowledge do I need to use DeFi applications with Vision Network?

Vision App is basically aimed at average joe users. We understand that crypto in itself is quite difficult to grasp, let alone DeFi which is even more complex. We believe that in order to achieve mainstream adoption, the application must be very simple to use.

Once the application has started, anyone in the whole world can just join and start using different DeFi functions from different projects, and the whole process is automated using the “Vision Bridge”.

So you, as an average user who knows nothing about crypto, you download the app, you chose to lend for example based on the best return rate. You deposit money, paying with a credit card or bank transfer (application will use FIAT onramp from one of our partners), you will pay fees, but they will be minor on an individual scale, you will also pay transaction fees. These fees, as more and more users use our application, will be quite significant in value, and will be shared by stakers.

On top of that, we will have different functions (not just lending), and the possibility to customize usage by building DeFi DAPPS which will be simplified with our technology.

Q5 from @Alisha90112

Can you tell us about the motivation and benefits for investors to keep the VSN token in the long run? What plans do you have to help drive the demand and scarcity of the VSN token?

You will be able to generate revenue, make fee-free transactions, and actively participate in the development.
We are trying and discussing with companies to extend our solution.

Questions asked by our GreatDrop community members during live Session to VISION NETWORK Team

Q1 from @schowalterchris

What are the key benefits of VSN Tokens for users and traders of conventional cryptocurrencies? Do you think decentralized finance is better than traditional finance? If so, why?

For traders, speculation because the VSN token is below its launch price and the marketcap is low.

The DEFI will revolutionize the world of finance because everyone will be able to be a master of his money.
No more dependence on banks is a huge advantage.

Q2 from @benedictmedhurs

Security is a community concern. Let me know how Vision Networkhandle customer asset security at E-Contract? What happen if there be any security problem about application?

Like all projects, we do our utmost to ensure the security of our funds.
But we are never safe in the crypto world.
Look at Harvest Finance recently which lost millions of dollars.

Q3 from @suna09876

Investors are afraid of scam, exchange is afraid of scam, partners are afraid of scam, so what does Your project guarantee not to scam investors?

Very simply. If we had scams we would have done it in the beginning when there were hype and a lot of money.
We could have sold all the tokens, walked away with liquidity.
We didn’t and we never will. I want a Community driving project.

Q4 from @System033

Although ETH 2.0 is delayed to next year, but it will solve all exist problem of ETH and become the best choice for DAPPs in future, so do you think this is a threat for Your project and how could you overcome this barrier?

We will never be a competitor of ETH but rather a complement.
ETH is and will remain one of the most important projects.
I don’t think that this is detrimental to our project, on the contrary.

Q5 from @Chinthaka93

Crypto people say that the next boom will on NFT after the Defi, Do you agree with this? Please share with us about NFT launching on VSN in future?

That’s a good question.
In order to do that we would have to change the goal of our project, I’m not saying it’s impossible.
But it would mean that our idea of Bridge is no longer useful.
In this case, we could reorient our project.

Here are some important links of VISION NETWORK:

Website: https://www.vision-network.io/
Twitter: https://twitter.com/Vision_VSN
Medium: https://visionnetwork.medium.com/
Telegram Group: https://t.me/visionnetworkVSN
Telegram Channel: https://t.me/VisionnetworkANN

Indonesian crypto community that focused on providing the latest information about cryptocurrency in the form of Airdrop, Bounty, AMA, and so on.