Seascape Seaside Talk #5 Recap with Dafi Protocol
On the 28th of May, 2021, Zain Rana, the Founder of Dafi Protocol was live on Seascape Seaside Talk #5, to provide the community with insights on their recent partnership with Seascape, and also attend to the questions and queries provided by Community members. The session was moderated by Kerel Verwaerde, CMO of Seascape Network.
In order to ensure clarity to my readers, this article has been divided into three segments; the first segment, gives full account of the questions asked by the moderator (Kerel) of this session, the second segment gives account of some selected questions asked by Community members, while the third segment gives account of live questions asked by Community members during the session.
SESSION ONE
Kerel — Hey Guys, let’s get the AMA on the road. Welcome Zain, happy to have you with us today.
Zain — Thanks for having me.
Kerel — We’re super excited to have you here with us today as we partnered with Dafi and are very excited about the potential this brings. Lets start by hearing a bit about you. How did you get into crypto and what is the origin of DAFI?
Zain —I was originally a Foreign Exchange technical analyst and naturally was interested in Bitcoin, following this I then introduced Blockchain to leading universities & institutions in England.
DAFI was created after forming a thesis that all inflation in decentralized networks is flawed, doesn’t support long term users, and actually devalues the whole economy.
Kerel — Wow, quite the background and statement. Wondering if some of our users would have some more questions regarding that later on. Could you explain to us what is Dafi and what makes it unique?
Zain — Sure. DAFI reinvents every network, and enables protocols & applications to incentivize through adoption.
As an economy grows, its supporting users (e.g. in staking, or liquidity programes, or simply incentive holders) will see their rewards maximize. Inflation is the foundation of everything decentralized, Bitcoin miners would not participate if they were not incentivized (as an example)
We’ve created DAFI as the first alternative to Bitcoin in how any economy, new/old, can maintain it’s decentralization especially in fragile periods
Kerel — Awesome, for you guys that don’t know what Dafi does, they’ll basically allow us to give you guys rewards in much more innovative and interesting ways. But with all that said and done, what most people are interested in is progress, could you tell us a bit more about what’s next for Dafi?
Zain — Yup, Gaming & NFT’s are heavily enhanced through rewards, it’s a perfect example. We have the Super Staking product launch in June — so far this is the biggest milestone ever in our roadmap.
Users will be able to stake for maximum incentives, and synthetic dDAFI rewards are pegged to network demand. It’s going to be on multiple chains, and our partners can soon adopt it after :)
Kerel — That’s exactly the type of thing we’re looking forward too, you know we’re all about incentivizing. But i’m kind of currious, what do you think about the current rewards model in the blockchain industry?
Zain — It’s not really been changed since Satoshi, the only way to attract participants in an economy is by distributing huge amounts of tokens. There’s no support for long term users, it pools network value to participants who can harm the network, and it really struggles when the market declines (e.g. in 2018 high inflation & low demand = devaluation).
It’s pretty cool, DAFI enables dTokens, like dCWS, which are distributed to users and it can do some cool things. In can incentivize you to trade NFT’s, to stake for long periods, and to receive rewards only as the platform grows.
SESSION 2 : Community Question
Community Question 1 — Can you guys elaborate as to how you see this working with the seascape ecosystem? So this is a question for both you and me Zain I guess, you can start and I’ll fill in some more at the end.
Zain — Well the simple statement is, it enables Seascape users to be more part of the network.
Seascape can create many flavours of dCWS synthetics, and distribute them to you guys, some will be to reward you to trade NFT’s (which is really cool). Some in staking programs (super staking) and even social rewards.
The key thing is that users who care & stay within the ecosystem will see their dCWS rewards multiply as the platform grows.
Kerel — As Zain just said the first use we can have is to have dCWS that be unlock depending with different factors so you can look forward to more social rewards with creative campaigns and competitions.
But we’re also super bullish about Dafi and look forward to integrate them more into the Seascape ecosystem itself as their product and features grow, so you can also think about all the creative elements that could be added to the platform.
Zain — Yup! There are many cool things we can do together, it’s going to be the start of something pretty epic.
Community Question 2 — Is this network really game focused or token focused? How do you plan to solve the problems which are currently plaguing the industry? (micro transactions, incomplete games, false promises etc. Will the network allow users to vote off potentially inappropriate games?
Kerel — So first answer is: we are bring tokenization to games, we are a project, not a coin, so our focus is and will always be bringing usable products and features to you guys, but we equal part blockchain/crypto and gaming.
As for the problems plaguing the industry we absolutely agree, that micro transaction, faulty/incomplete products, false promises, etc, have sadly become a staple of the gaming industry.
Zain — I think the best logic which applies to everything in the industry — is to always reduce the surface area of which decisions have to be made, simply if the network & games are designed so that it requires less decision making, the better.
Kerel — We also think that the corporate and multiple actors with self interests at heart are something that hurts the industry in general. That’s why having a platform such as ours that focuses on fair incentivization of all actors would solve many of the issues currently visible.
micro transaction are a problem because they bring little to the player and only benefit the corporations, this would not be the case with us as all actors are rewarded for interacting with the system (although how well you are doing with the rewards still depends on your skills and strategy).
As you guys know we are a platform, so that means other game developers will be coming and you could all get involved in the release of new games on the platform so you would have much more impact regarding the games than in the traditional industry
And lastly false promises is a particular thing we really do not like, and also one of the reason you do not see us hyping everything to the moon, as being fair, honest, and consistent with you guys is the way forward for us.
Community Question 3 — What benefit do developers have from using your technology/SDK? compared to the competition. What is the competition for you? is there even one?
Zain — DAFI is pretty niche to be honest, the market is huge because everything decentralized or with users can, in theory, use DAFI
I’d say competition for DAFI would be the standard/old way of simply distributing tokens/rewards to networks and users
Kerel — As for, similarly to what Zain said, the competition right now is not that present in the sense that SDKs allowing game developers to easily tokenize their games with a good documentation and DeFi and NFT economy are simply not out there right now.
So our SDK would bring be very simple to use and be well documented, and we would continuously work on improving it. We would also incorporate DeFi ad NFT economies into it, and not simple tokeniztion or NFT collections but an actual working ecosystem for it.
We also work as a platform and thus offer a potential for games to work together, and come up with new innovative ways to rewards the users or add new gameplay elements. So partnerships like Dafi are very important for us as they bring new potential for all our future partner that wish to develop on our platform.
SESSION 3 : Live Questions
Live Question 1— I am all for protecting the economies of projects by providing rewards in and incentivized manner using synthetics, I think it’s great. Really evens outs the paying field, my question would be would the same model be approached when dealing with NFTs like synthetic NFTs?
Zain — Good question, we’ve been researching different use-cases with NFT’s, the first of course is the illiquidity issue where synthetic rewards can grow as TX’s increase. But in general, we have a few cool plans later in the year to really tackle NFT’s using our developed tech.
Live Question 2— Did you publish your smart contract to be viewed by public or is it private?
Zain — Public. Most of our github is currently closed-source until we launch in June (to prevent forks) however it’s being audited.
Live Question 3 — How will you get enough liquidity on the DEX? This seems like a big challenge for a starting crypto with many platforms already being worked on?
Zain — We are launching the first LP program on Monday 31st of May actually for Uniswap.
Live Question 4— As the games on your platform become more and more popular, maintaining the operations could require hundreds of thousands or even millions of transactions. How do you plan to address the scaling in time?
Kerel — Excellent question, for that we have multiple partnerships we’re working on to ensure our games run smoothly, and we might announce one such partnerships very soon.
Live Question 5— Dafi Protocol’s smart contract has fully audited?
Zain — Our last product is yes, and our Super Staking product will be going into the audit phase very soon.
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