On Dec 1st 2020, we held an “Ask Me Anything” session with Bithumb Global. Bithumb has become the largest cryptocurrency exchange in Korea with the most traded volume in the world by January 2017. With William Sutanto as our co-founder, we always strive to answer any question you may have about our project.
So, for those of you who missed it, here is the recap:
Ready? Set, go!
Q1: What is the meaning behind the project name?
A1: We chose Tadpole because this is a young creature that will be evolve into a bigger a more mature animal in the future. It’s just like Tadpole Finance now which is a very young on blockchain DeFi project industry, and still have few aspect to improve. Tadpole is the early phase of this project, if this DeFi is flying off, we plan to rebrand this project into a more serious name.
Q2: What made your team jump into DeFi markets?
A2: Indodax and Tokenomy can be considered as old players in crypto industry. Indodax alone has around 200 staffs in house. We are one of very few companies that are capable to develop a serious crypto project in south east asia. With recent hype of DeFi trend, we feel the responsibility to join to improve this industry. Before we initiating Tadpole Finance, we found that there is a big problem with current DeFi especially lending ecosystem, that we can improve
Q3: What are the benefit of staking Tadpole?
A3: There are several staking options.
1. Genesis Mining (ended last month). This is when we initiated this project and let people to acquire early distribution of the TAD Token. This time you staked TEN token and got TAD token as rewards.
2. DEX LP Mining (ongoing). You can give supply to uniswap, and earn TAD token as rewards.
3. Platform Mining (to be announce). You supply various tokens in the lending platform, earn some interest and get TAD token as rewards.
These staking options are very important to support Tadpole Finance ecosystem.
Q4: What is the revenue model of Tadpole?
A4: TAD token usage beside governance token, is also used for paying listing fee. In Tadpole Finance, unlike other lending platform, anyone can submit erc20 to be listed in the lending markets. And this listing requires paying some TAD tokens as listing fee. This fee will be burn and removed from TAD supplies. This method is to make sure TAD token is deflationary.
Q5: What is the differences between TAD and other DeFi?
A5: In Tadpole Finance we try to improve the current lending DeFi ecosystem which is still very exclusive. To be listed in current existing lending project, requires enormous voting power which is impossible to be achieved by small-medium projects. We believe in blockchain ideology that is supposed to be open and inclusive. So we develop a more open lending market, which mimic Uniswap but for Lending market. Anyone can list any tokens into Tadpole Finance so people can save and lend these tokens.
Don’t miss out on more AMAs!
In the meantime, happy staking!