Non-Custodial, Multi-chain, Gamified DeFi Product Suite
Frumps | OIG: Greetings OIG community! We are excited to have with us Kyte.One! The Non-Custodial, Multi-chain, Gamified DeFi Product Suite!
We have @Chandra_Bhushan and @rachitmagon joining us.
Hi guys, can you briefly introduce yourselves to our community?
Chandra Bhushan: Hello. This is Chandra here and thanks for having me here. Glad to have an AMA session with the awesome community of OIG :)
To start with, Chandra here and I handle the Product and Customer division of Kyte.One and also one of the Co-Founders here. Earlier I was the COO & cofounder of canumeet.com and have been working in customer success, marketing, community management & investor relations for a long time now.
Rachit Magon: Hello!
I’m Rachit Magon, one of the cofounders at Kyte. I have more than 10 years of software development experience in various technologies including blockchain — as a freelancer, in huge corporates, in startups as well as with my own software development studio. Before Kyte, I founded a marketplace for digital marketing agencies and small businesses
Frumps | OIG: Amazing guys, it's great to have you here, you both are two very experienced people with a great product, so we can not wait to hear more
Let's jump straight in!
Can you summarise for us what Kyte is?
Chandra Bhushan:Sure thing. Kyte.One is actually something that is very close to each of our hearts and we aim to achieve awesome things with our product. At Kyte.One, we are aiming to build a suite of gamified, fun DeFi applications that would bring DeFi to the real world. We currently have 4 modules in the roadmap each of which is exciting and has the ability to change the way we currently handle certain things.
Kyte aims to build a growth platform for organizations, a bot engine for developers, a bot battle platform and prediction markets for traders.
With Kyte’s growth platform AIRLYFT (A great tool to win free airdrops without losing money), organizations can create gamified airdrops and let users do certain tasks (answer questions like “When will Kyte launch?”, share on Twitter, or literally anything) for free giveaways of tokens, coupons, or NFTs!!! Do stay updated
We are also building a bot engine Patang, a bot battle platform and prediction markets (already available on the avalanche testnet). Based on which bots are performing the best in battle, they will be gradually moved to our Bot As A Service platform which is totally open source and users can hire these bots for a certain fee. So WIN WIN for both :)
Frumps | OIG: This is amazing. You have plenty of exciting things to offer! Each of these products sounds exciting and fun and have a range of applications!
To bring this vast array of products you will need a strong core team.
Can you tell us a little about the core team? Where are they based and what qualifications and experiences do they have that will help them drive Kyte.One to success?
Chandra Bhushan: Yes sure. An awesome team is one of our strong points. We are a team of 7 which is Myself, Rachit, Surya, Neha, Muiz, Aslam and Omar and each of us hold 8+ years of experience in our respective fields. While all of us are big-time techies but we understood that apart from having technical knowledge, we need to dive deep into and have chosen the team very carefully where each of us works with a single aim of helping Kyte put at a place where it deserves. Each of us has entrepreneurial experience in SaaS sectors and other fields and have been trading and understanding blockchain for a long time now. Only after we got a game-changing idea, we started on our project Kyte.One
To understand in-depth each of one, please refer to the link below for a greater explanation.
https://blog.kyte.one/introduction-to-the-team-behind-kyte-one-3b78930c6728
Frumps | OIG: This is a highly experienced team you have! You have very relevant experience in relevant fields. I recommend to our community to follow the link and get to know more about you guys! Impressive stuff!
Chandra Bhushan: Indeed and yes please do join as we too have a lot of things to learn from you. :)
Frumps | OIG: Can you tell us what problems does Kyte solve?
Chandra Bhushan: Sure. It's very important to understand the CRUX of what we are doing. Each of our modules is made with an aim in mind to solve something.
So our first module is AirLyft which will allow users to participate in giveaways & airdrops where they don’t have to worry about bots reducing their chances for the airdrop, or organizations not giving the airdrop in the end.
To host airdrops on airlyft, organizations will have to first lock their tokens and only then they’ll be able to host the airdrop 🙂We are making sure that only legit participants are joining in the giveaways and organization gets the most out of giveaway being organized.
For our second module which is bot battle, it is designed to catch every price movement in the specified range. The bot splits the range into multiple Grid Levels and places a buy or sell Limit Order on every level, which allows one to buy every drop and sell every rise. These bots will be developed and battle-tested after which winning bots can be hired for a fee on our bot as a service platform which is our 3rd module.
Lastly, the fourth module of prediction market, we only have crypto prediction amrkets for users encouraging everyone to do research-based prediction and not just luck-based predictions. This would change the way predictions are being viewed and at the same time, educate people about the project.
Frumps | OIG: Wow, AirLyft is a massively needed product! The bot battle is extremely exciting with massive earning potential! There are so many amazing things you have just mentioned here, you really are a DeFi Product Suite!
Great stuff
Chandra Bhushan: Indeed.. wait till you see the full product that we will be going mainnet on AIRLYFT ;)
Frumps | OIG: We are very excited indeed!
What will the KTE token be used for? How does this fit into your project? When and where can we get our hands on it?
Chandra Bhushan: This is something which we have been working on for a long time now and each of our utilities is very well defined. So $KTE will be an ERC20 Utility token for the Kyte platform.
Please note that it is a multichain protocol and we will first launch on Avalanche.
- All of our platforms will use $KTE as the main participation token.
- To increase leverage, traders can stake Kyte tokens and earn more if they win.
- Kyte tokens can be staked on Kyte liquidity pools (DEXs) to earn extra Kyte tokens
- All council actions require the token which gives the power to users to shape the future of the Kyte platform
- And there would be a referral program soon!
- Users will also be able to hire bots using our KTE tokens.
- The entire AirLyft platform in its depth have got a lot of utilities on performing giveaways, working, reward pools for either KOLs, VCs, and Launchpads
These are some of the many utilities that we are planning and will be implemented soon.
Now for the WHEN question, we would obviously launch it in the month of January and the details will be available soon. Do join to stay updated.
Frumps | OIG: Ok, so basically $KTE is an integral part of your project! There are so many real utilities for this token! We will be following you closely to find out specific dates in January when you will launch
Chandra Bhushan: Awesome! :)
Frumps | OIG: It seems like you have achieved so much already! What milestones have you hit in your roadmap that we should know about?
Chandra Bhushan: Well, we do have a few milestones that we have achieved:
- First is obviously the whitepaper that was released back in the month of March and we really received some awesome feedback on the whitepaper.
- Moving forward, Version 1 of our prediction market testnet was already launched in August and the responses were awesome. To be exact, people loved our testnet so much that they locked more than 500K tokens in just a single week.
- Version 2 is also now launched last week and that is making strides.
- The marketing tool will also be launched soon by next month which will support organizations to host competitions and send airdrops. This is something which is we will go mainnet on so the team is working hard.
Frumps | OIG: The whitepaper was really strong! Version 1 hitting 500k tokens in a week is incredible! Everyone needs to go and check version 2! This is a great deal achieved already and you are so early in your journey!
Chandra Bhushan: We are working hard each growing day to provide a suite of DApps that everyone deserves :)
Frumps | OIG: Brilliant stuff!
We will now turn to the Twitter community questions to see what the community want to know
Community Twitter Questions:
Question 1)
Chandra Bhushan: Indeed an awesome question. The tech as I mentioned earlier is one of our strong points and our tech team is really awesome who work day and night to provide an easy to use DAPP. Now, yes with our testnet platform which is currently live at test.kyte.one , there is a minimum token that a market creator must put i.e. 300 KTE tokens. There are lot of perks attached for the market creators in those cases basing the commissions and things. But please be assured that it is totally based on chain governance to decide what should be market creation price. We want our community to decide that and we take our community feedback very seriously.
For the second part, we believe that the more the number of users is available who have participated in the market, the share percentage of commission will be more. It will be more convenient for the markets creator to then make sure more number of users have participated in the market. Now, so that the engagement rates are high, we have also provided options to share the created market on the social channels for more users to participate. These extra winnings I believe can create high motivation central figure.
Frumps | OIG: It is clear that your project excels the tech side! Its great that you listen to and incorporate community feedback.
Question 2)
Chandra Bhushan: Thanks to Arun for such an awesome question! Talking about it, regaining control of finances is the essence of blockchain and each of the platforms on blockchains is trying to achieve it in some or another. Similarly, we too aim to do the same.
Our platform, as well as our roadmap, is specifically designed to include the community and trust us when we say so. For instance, Our first module which is the Gamified growth platform “AirLyft” can be considered like an escrow service, basically, so we know organizations won’t go back on their word after the users participate. Users can do activities, learn about participating organizations & win free tokens/NFTs through the growth tool. They participate in high yield markets by predicting the future value of assets or which bot will win. Organizations can market their new crypto project to real people in our ecosystem and finally…
Developers can participate in grid bot battles to earn handsome rewards.
These are our entire four modules in a nutshell and this is really really exciting.
So in the end, these problems are really the core issues that is currently broken and we plan to fix them using our suite of multichain DApps. We are pretty sure that with your help, we would achieve the same.
Frumps | OIG: Brilliant answer! Clearly, there are a ton of uses and functions that help users in regards to controlling their finances! Kyte is going to be an essential tool that should be used by all!
Question 3)
Chandra Bhushan: To start with, I believe that there are lots of bots available in the market but no way to understand which bot is performing the best and is of best use for them. Hence, the way with which bots are being perceived has now changed.
The aim of Kyte.One bots module is to provide users with a platform where the developers can buckle up and build their own bots. Based on the bots being developed, we plan on performing bot battle competitions between these bots to understand which bot is maximizing the profits. Basically, all the bots are open source and post-battle testing of these bots, they will gradually be moved to our bot as a service platform where users can come in check the in and outs of bots and then hire these bots for a fee. And yes, our platform too will have the AI implemented to automate these operations.
Frumps | OIG:
😍 we love this! so much potential with this concept
Chandra Bhushan: Indeed. Thank you so much :)
Frumps | OIG: Amazing.
It was a pleasure to have you here today to hear about your exceptional project, your answers really highlight what a brilliant team and products you have.
Do you have any final words you would like to leave with our community?
Chandra Bhushan: Sure thing… while all of the community questions were awesome, I wish I was able to answer them all. Please do join and connect with us there to know about us more. Below are our links.
Official Channel: https://t.me/kyteone
Twitter: https://twitter.com/kyteone
We would love to connect with all and have their doubts cleared
Frumps | OIG: Thank you again guys and thank you OIG for your great questions. Go and support Kyte.One!
See you soon OIG community, stay blessed!
Chandra Bhushan: Thanks a lot to each of the members for being here and would love to connect with you further. :)
And special thanks to @Danfrumps23 for organizing this AMA session.
Frumps | OIG: It really was our pleasure, OIG love to hear about outstanding projects and yours is definitely one of them!
Rachit MagonThank you so much @Danfrumps23 for hosting us today ☺️
Kyte.One:
Twitter: https://twitter.com/kyteone
Website: ;https://www.kyte.one/
Telegram: https://t.me/kyteone
